Galway Metals begins work on Clarence Stream MRE

Executive Summary

• Galway Metals Inc. has commenced work on an updated National Instrument 43-101-compliant mineral resource estimate (MRE) for its 100%-owned Clarence Stream gold project in southwestern New Brunswick, Canada.
• The update incorporates significant new drilling data, including 342 diamond drill holes totaling 69,556 metres completed since the previous 2022 MRE, focusing on resource expansion and infill at the Southwest and North deposits.
• The updated MRE is expected to be completed and disclosed by the end of the second quarter of 2026, reflecting a higher gold price environment and refined geological interpretations.

Key Details

• Project Location: Clarence Stream gold project, southwestern New Brunswick, Canada.
• Current Resource Status (2022 MRE):
  • Indicated: 12.4 million tonnes at 2.3 g/t Au for 922,000 ounces.
  • Inferred: 16.0 million tonnes at 2.6 g/t Au for 1,334,000 ounces.
  • Previous Gold Price Assumption: $1,650 USD/oz.
• New Drilling Data:
  • 342 diamond drill holes completed since the 2022 report.
  • Total footage: 69,556 metres.
  • Focus areas: Resource expansion and infill at Southwest and North deposits; continued exploration along the broader Clarence Stream trend.
• Updated MRE Scope:
  • Will incorporate results from the new drilling.
  • Will include refined geological interpretation, updated grade estimation, and revised pit-constrained assumptions.
  • Prepared by SLR Consulting Ltd. (independent qualified consultant).
• Timeline: Completion and disclosure expected by the end of Q2 2026.
• Geology: Intrusion-related, structurally controlled, quartz-vein-hosted gold deposits hosted in intrusive and metasedimentary rocks within high-strain zones. Mineralization includes pyrite, base metal sulphides, stibnite, and anomalous bismuth, arsenic, antimony, and tungsten.
• Technical Review: Reviewed and approved by Jesse Fisher, PGeo, a qualified person as defined by NI 43-101.
• Assaying Protocols: Samples assayed by Activation Laboratories, Agat Laboratories, and/or Swastika Laboratories (all ISO/IEC 17025 accredited). Gold assayed via fire assay with gravimetric finish. QA/QC includes blanks, standards, and duplicates inserted at 1 per 20 samples.

Notable Quotes

• "Commencing an updated mineral resource estimate is an important step in advancing Clarence Stream. The project has benefited from substantial drilling since our last resource, and this update will provide a current and comprehensive view of the deposit. In the context of a higher gold price environment, an updated resource will be an important foundation as we continue to assess the project's technical and economic potential, with completion of the updated mineral resource estimate expected by the end of the second quarter of 2026." — Rob Hinchcliffe, President and CEO