AMN - BOTSWANA: Galane and B2Gold move forward

Galane Gold announces that all of the conditions precedent set forth in the earn-in option agreement with B2Gold Corp covering two gold prospecting licences in Botswana have been satisfied. This will enable the parties to move forward with their obligations under the agreement.

Under the earn-in agreement, B2Gold has the option to indirectly acquire, in tranches, up to 70% of the shares of Southern Cross Exploration and Development (Pty) Ltd, a newly incorporated subsidiary of Galane Gold.

Southern Cross has received two gold prospecting licences over an aggregate of about 520 sqkm around Galane’s Mupane property, excluding its current operations and mining licences.

B2Gold has agreed to and will carry out exploration on the properties with guidance received from a jointly formed technical committee.

Upon B2Gold acquiring shares of Southern Cross, the earn-in agreement will be replaced by a definitive shareholders agreement governing the parties’ interests in Southern Cross.

Galane Gold CEO Nick Brodie said, “This represents a great opportunity for Galane and B2Gold to join together to target exploration in the highly prospective Tati Greenstone Belt.

"I am confident that B2Gold and Galane working together represents the best chance of finding another significant resource like Tau, which has been the backbone of Mupane for the majority of its operations.”

Galane Gold is a TSX Venture Exchange-listed, un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa.

www.GalaneGold.com