DISCLAIMER

The information and content contained on this webpage is intended to be used or viewed solely in jurisdictions where it is lawful to do so. If you access the broker research reports contained herein(Research Reports), you must inform yourself about, and comply with, applicable laws and regulations, including (without limitation) observing securities laws and regulations in jurisdictions that impose restrictions on the distribution of such Research Reports.

Research Reports herein may have been commissioned and paid for by Galena Mining Limited (Galena). Where a Research Report is commissioned and paid for by Galena, the Research Report will state that this is the case. Third party consent regarding the publication of the information contained in the Research Reports has been received by Galena. The views expressed in the Research Reports are those of the third party analyst or firm writing the report and no part of the compensation received by the analyst is directly related to the inclusion of specific recommendations or opinions.

Galena, its directors, officers, employees, associates, affiliates and agents disclaim all liability and responsibility for any direct or indirect loss, or damage, which may be incurred by any recipient through any information, omission, error, or inaccuracy contained in the Research Reports. All information, opinions, conclusions, estimates or recommendations provided in the Research Reports have been prepared by third parties, and Galena, its directors, officers, employees, associates, affiliates and agents make no representation or warranty as to the accuracy, completeness, or reliability of information prepared by third parties, including any price target, earnings forecast or other statements (including forward-looking statements) about Galena’s business activities.

To the extent any recommendations or statements of opinion or fact made in the Research Reports may constitute financial advice, they constitute general information and not personal financial advice in any form. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of the recipient. Recipients of information should not act on any recommendation without first taking appropriate steps to verify the information in the Research Reports, consulting their independent investment advisor in order to ascertain whether the recommendation (if any) is appropriate, having regard to their investment objectives, financial situation and particular needs. Providing access to the Research Reports should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Galena.

The information provided may include projections, targets, opinions, forecasts and/or estimates which constitute forward-looking statements. These expressed beliefs of future performance, events, results, or returns may not eventuate and as such no guarantee of these future scenarios is given or implied by Galena. The past performance of Galena cannot be relied upon as a guide to its future performance.

Each Research Report will only be current as at the date of the relevant Research Report, and as such, the Research Reports themselves may be subject to change. Galena accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in the Research Reports or any other information made available to a person, nor any obligation to furnish the person with any further information.

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