Glenover Project Drilling Update

6 December 2011

Galileo Resources Plc

("Galileo" or the "Company")

Glenover Rare Earth Project Drilling Update

The Board of Galileo Resources Plc ("Galileo"), the AIM-quoted
emerging African Rare Earth exploration company, is pleased to announce
further positive drilling results from its latest three boreholes GVH002, 003
and 004 on its Glenover Rare Earths Joint Venture project in Thaba Zimbi,
South Africa. Borehole GVH002 shows simllar characteristics to GVH001 (results
previously announced 10 November 2011) while boreholes GVH003 and GVH004
intersected significantly higher rare earth oxide mineralisation than seen to
date and over relatively long core lengths.

Highlights:

- Four boreholes with results completed to date in area peripheral
to the old open pit, previously worked for its high grade phosphate ore but
disregarded the REOs present

- Rare earth oxide ("REO") mineralisation >1% REO intersected in
the three boreholes reported herein

- Borehole GVH003 intersected 52.6 metres from surface assaying
4.27% REO including 18.3 metres (from 30 to 41 meters) assaying 8.24% REO

- Borehole GVH004 showed significant REO mineralisation over some
82 metres from surface (total 100 meters drilled) assaying 2.47% REO,
including 45 metres from surface assaying 3.23% REO and 8 metres (from 20 to
28 meters) assaying 8.03% REO

- Drilling continues with a further four boreholes (GVH005 to
GVH008) drilled around the old pit and samples submitted for assay

A summary of the results for the latest boreholes are given in the
tables below.

Colin Bird, Executive Chairman of Galileo Resources, said: "These
results are very pleasing and significant. Our mission now moves with
confidence towards producing a SAMREC code compliant resource estimate for the
areas peripheral to the open pit and at depth."

The drilling programne is aimed at correlating the rare earth
mineralisation with the various rock type facies. Core logging data continues
to indicate the REO mineralisation is hosted predominantly within the apatite
breccia facies. However in borehole GVH004, elevated intermitted REO
mineralisations of between 2% to 6% REO over several metres were seen to
persist in the carbonatite facies for some 30 metres below the usual REO
mineralised apatite breccia.

The results to date permit the project to advance towards a
definitive resource statement and concurrently a prefeasibility study phase.
Likewise, the results give the project the confidence to extend its
exploration programme to other potential prospective areas, which the Company
believes exist on its concession.

Drilling continues with four further boreholes GVH005 to GVH008
drilled, logged and sampled. The samples have been submitted for assay.

The internationally accredited laboratory Genalysis Laboratory
Services (Pty) Ltd, a part of Intertek Group plc carried out the the assays of
the borehole core samples.

Summary of results for Boreholes GHV002, 003 and 004 over selected
core lengths

Borehole GVH002

GRADE CUT                                FROM (m)     TO (m)     WIDTH (m)      TREO* %**     P2O5 %**    Nb2O5 %**
Total core                                     0         133           133           0.77         4.94         0.12
     > 1% RE0                              82.98       86.57          3.59           2.76        10.66         0.34
     Including                              84.7       86.57          1.87           4.20        12.48         0.47
     > 1% REO                              88.62       92.11          3.49           1.62         9.01         0.32

* Includes Yttrium ** length weighted averages

Borehole GVH003

GRADE CUT                  FROM (m)     TO (m)     WIDTH (m)       TREO* %**     P2O5 %**     Nb2O5%**
Total core                       0       133.4         133.4            2.15         9.74         0.43
     > 1% REO                    0       52.64         52.64            4.27        21.70         0.85
     Including               30.07       48.36         18.29            8.24        15.21         0.75

* Includes Yttrium ** length weighted averages

Borehole GVH004

GRADE CUT                               FROM (m)       TO (m)    WIDTH (m)       TREO * %**      P2O5 %**  Nb2O5 %**
Elevated REO in core                           0        82.16        82.16             2.47          7.39       0.30
> 1% REO                                       0        45.08        45.08             3.23         11.70       0.41
              Including                     5.64        7.77          2.13             4.49         26.37       0.39
              Including                    20.14        27.92         7.78             8.03         14.97       0.74
> 1% REO                                   51.04        52.29         1.25             6.52          2.61       0.18
> 1% REO                                   58.98        63.9          4.92             1.86          0.32       0.01
> 1% REO                                   66.27        73.53         7.26             2.58          1.98       0.15
> 1% REO                                   79.66        82.16          2.5             2.17          2.70       0.18

Includes Yttrium ** length weighted averages

For further information, please contact:

Colin Bird                           Tel [phone]
Chairman & CEO

Richard Wollenberg                   Tel [phone]
Non-Executive Director

Beaumont Cornish Limited,            Tel [phone]
Nominated Advisor and Broker
Roland Cornish/James Biddle

Shore Capital Stockbrokers Limited   Tel [phone]
Joint Broker
Jerry Keen/Toby Gibbs

Bishopsgate Communications           Tel [phone]
Nick Rome/Shabnam Bashir

A copy of the announcement is available on the Company's website www.galileoresources.com

Technical Sign-Off

Andrew Sarosi, Technical Director of Galileo, who holds a B.Sc.
Metallurgy and M.Sc. Engineering, University of Witwatersrand and is a member
of The Institute of Materials, Minerals and Mining, is a 'qualified person' as
defined under the AIM Rules for Companies and a competent person under the
reporting standards. The technical parts of this announcement have been
prepared under Andrew Sarosi's supervision and he has approved the release of
this announcement.

Note:

Galileo Resources Plc is a natural resource exploration company.
The Company has an experienced management team with proven technical and
commercial background. The flagship property is the Glenover Phosphate
concession, which produced phosphate for many years. Phosphate however, is now
subordinated to Rare Earth Elements (REEs). The project area is known to
contain REEs and that the grades, if of sufficient size and continuity may
well lead to a medium-sized operation for the production of REOs.

Galileo Resources currently has an 11.5% interest in the Glenover
Project and has the option, via additional stage payments as set out in the
Company's Admission Document, to earn up to a maximum interest of 73.73%.

One of the key benefits of the project for a medium-sized operation is that,
if REEs, which have been shown to be present in the stockpiles from the
previous phosphate operations, can be proven to compliant resource category,
the cost of mining it and the associated risks should substantially be
reduced.

The concession is of considerable size and hosts mineralisation
types suitable for potential REE presence. The aim is to investigate the
mineralisation types for REE presence and content with the view to proving up
a mineable resource of REOs.

The Company also has a number of Iron Ore and Manganese exploration
projects in the Cape, all of which are in proximity either to current
operations or discoveries, which are not currently being processed.

Galileo has rights to joint venture in an aggregate producing
quarry close to Mthata in the Eastern Cape. The Directors beieve that the
quarry is well positioned to supply construction aggregate for the significant
potential infrastructure programme being undertaken by local government.

Technical Glossary

Apatite: a phosphate mineral of calcium containing chlorine or fluorine, or
both.

Breccia: a rock composed of broken fragments of minerals or rock cemented
together

Collapse breccia: A collapse breccia forms where there has been a collapse of
rock

Facies: a body of rock with specified characteristics

Phosphate (P2O5): an oxide of phosphorus

Rare earth elements: a set of fifteen chemical elements in the periodic table
specifically

(REE) the lanthanides (plus yttrium ad hoc) and by convention categorised as
light REE (the first seven elements plus yttrium and heavy REEs the last eight
lanthanides)

REO (rare earth oxide): the oxide form of the rare earth element

TREO: total rare earth oxides

The major rare earth elements (~98% of TREO) in the borehole core sampled are:

Ce: Cerium Uses include cathode ray tube glass to prevent age discoloration,
in auto catalytic converters, rich red colour pigments, low energy light
bulbs, film studio carbon-arc lighting and minor use in self cleaning ovens

Eu: Europium Uses include bright red coloration in television tubes;
industrial street lighting to give a more natural light, thin film
superconductor alloys and in lasers

Gd: Gadolinium Uses include neutron capture capability and in compounds as a
contrasting agent in radiography and magnetic resonance imaging in medical
diagnostics

La: Lanthanum Uses include carbon-arc lighting, additive to glass for lenses
and new treatment for bone disease (osteodysrophy). Potential use for hydrogen
(H) storage for H-fuelled vehicles: being able to absorb hydrogen as much as
400 times its volume

Nd: Neodymium Uses include alloyed with iron and boron to make one the most
powerul permanent magnets known (see also Samarium below) and found in modern
vehicles using motorised devices; in welders protective glasses and power
lasers

Pr: Praseodymium Uses include as an additive to give glass a pure yellow
colour and brilliant pastel greens and yellows for glazes

Sm: Samarium Uses include alloyed with cobalt to produce permanent magnets ten
thousand times more powerful than iron and has the highest resistance to
demagnetization; in masers (microwave lasers) capable of cutting steel and
bouncing off the surface of the moon

Y: Yttrium Uses include lasers, as host for europium in TV red phosphor,
alloyed with boron and cobalt high temperature superconductors and microwave
filters