Mr. Nick Brodie reports

GALANE GOLD LTD. RELEASES FINANCIAL AND OPERATING RESULTS FOR THIRD QUARTER 2018

Galane Gold Ltd. has released its financial results for the three and nine months ended Sept. 30, 2018. All amounts are in U.S. dollars.

A copy of the unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2018 prepared in accordance with International Financial Reporting Standards and the corresponding Management's Discussion and Analysis will be available under the Company's profile on www.sedar.com .

Third Quarter 2018 Highlights

• Produced 8,545 ounces of gold.
• Positive cash flows from operating activities of $302,329.
• All-in operating cash cost of $1,011 per ounce (excluding royalties).(1)

Galane Gold CEO, Nick Brodie commented: "Another quarter of positive production at Mupane with current expectations for a good last quarter and a forecasted annual production of approximately 35,000 ounces.(2)

We expect to be in a position to give updates to the market soon on progress at our Galaxy Mine and the prospective Andy Well transaction as we look to continue our accretive growth strategy for Galane."

About Galane Gold

Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange under the symbol "GG" and the OTCQB under the symbol "GGGOF". Galane Gold's management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.

Notes:

(1) Total operating cash cost excluding royalties is a non-GAAP measure. Refer to "Supplemental Information to Management's Discussion and Analysis" in the Company's Management's Discussion and Analysis for the three and nine months ended September 30, 2018 for reconciliation to measures reported in the Company's financial statements.

(2) The deposits at the Mupane mine are supported by a technical report entitled "Independent Technical Report on the Mupane Gold Mine" dated May 10, 2011, a copy of which is available under the Company's profile on www.sedar.com.

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