Galway Metals drills six m of nine g/t Au at Clarence

Executive Summary

• Galway Metals Inc. released drill results for seven diamond drill holes at the Southwest deposit of its Clarence Stream high-grade gold project in New Brunswick, Canada.
• The results highlight robust high-grade intercepts at shallow depths, reinforcing interpretations of strong vertical and lateral continuity within the deposit.
• These results will be incorporated into an ongoing mineral resource estimate update, anticipated for release around the end of Q2.

Key Details

• CL-242: 9.0 g/t Au over 6.0 m, beginning 15.0 m from surface; including 44.7 g/t Au over 1.0 m and 1.6 g/t Au over 15.0 m.
• CL-240: 52.3 g/t Au over 2.0 m (including 104.0 g/t Au over 1.0 m); 33.5 g/t Au over 2.0 m (including 66.2 g/t Au over 1.0 m); and 1.1 g/t Au over 20.0 m.
• CL-241: 2.8 g/t Au over 13.0 m, including 8.0 g/t Au over 2.0 m.
• CL-243: 2.5 g/t Au over 6.0 m, including 6.7 g/t Au over 1.0 m.
• CL-239: 1.4 g/t Au over 13.0 m, including 5.8 g/t Au over 1.0 m.
• CL-238: Intersected 1.0 g/t Au over 8.0 m and 0.6 g/t Au over 9.0 m.
• Pending Assays: There are currently 44 drill holes from the Southwest deposit with pending assays, including seven holes located near the results reported in this release.
• Project Context: The Clarence Stream project hosts district-scale potential with an approximately 65-kilometre strike length. A 2022 mineral resource estimate reported 12.4 million tonnes at 2.3 g/t Au indicated (922,000 oz) and 16.0 million tonnes at 2.6 g/t Au inferred (1,334,000 oz).
• Technical Review: Scientific and technical information reviewed by Jesse Fisher, PGeo, a qualified person as defined by NI 43-101.
• Assay Labs: Samples assayed by Activation Laboratories, Agat Laboratories, and/or Swastika Laboratories, all ISO/IEC 17025 accredited.

Notable Quotes

• "The Southwest deposit continues to deliver robust high-grade intercepts at shallow depths, reinforcing our interpretation of strong vertical and lateral continuity. By connecting mineralization from depth into the near-surface pit shells, we are working to enhance the overall coherence of the deposit. These results will be incorporated into our ongoing mineral resource estimate update, which we anticipate releasing around the end of Q2. We believe this phase of drilling has the potential to positively influence the near-surface component of the resource and further highlight the open-pit potential at Clarence Stream." — Rob Hinchcliffe, President and CEO