• Offers up to 464,285,714 new options to eligible participants
• Funds to be used for exploration, asset maintenance, and working capital
• Lead manager CPS Capital Pty Ltd received 90,000,000 options

Galilee Energy Ltd has announced an options prospectus, offering up to 464,285,714 new options to eligible participants. The options will be issued to participants in the company's recent $6.5 million placement, including directors Ray Shorrocks and Stephen Kelemen. The new options will be exercisable at $0.011 on or before the date that is 3 years from the date of issue. The company plans to use the funds raised from the placement and the exercise of the new options for exploration on the Mineral Leases (following the exercise of the Mineral U Option), to maintain the company's existing assets, and for working capital. The company also appointed CPS Capital Pty Ltd as the lead manager to the placement, who received 90,000,000 options exercisable at $0.0105 on or before the date that is 36 months from the date of issue as part of their fee.