Galway Metals Reports Updated Clarence Stream Mineral Resource Estimate

Open Pit Constrained Gold Resource Indicated: 1.36M Au Ounces at 1.58g/t (in 26.68M Tonnes) Inferred: 1.02M Au Ounces at 1.26g/t (in 25.17M Tonnes) Underground Constrained Gold Resource Indicated: 0.06M Au Ounces at 3.60g/t (in 0.52M Tonnes) Inferred: 0.27M Au Ounces at 2.50g/t (in 3.37M Tonnes) TORONTO, ON / ACCESS Newswire / July 13, 2026 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") announced today an updated Mineral Resource Estimate ("MRE") for its 100%-owned Clarence Stream Gold Project in southwest New Brunswick. The updated MRE reports Indicated Mineral Resources of 27.2 million tonnes grading 1.62 g/t Au containing 1.42 million ounces of gold and Inferred Mineral Resources of 28.5 million tonnes grading 1.40 g/t Au containing 1.29 million ounces of gold. The updated estimate also includes approximately 19,500 tonnes of contained antimony in the Indicated category and 3,100 tonnes in the Inferred category, representing increases of approximately 103% and 45%, respectively, compared to the 2022 Mineral Resource Estimate1. "This updated Mineral Resource Estimate marks a significant milestone for the Clarence Stream Project," stated Robert Hinchcliffe, President and CEO of Galway Metals. "The 20% increase in total contained gold, together with the 54% increase in Indicated gold ounces, provides a substantially stronger foundation for the Project. We are extremely happy with our new resource estimate and look forward to an exciting 2026. "Approximately half of our contained Indicated gold ounces occur at grades above 3.0 g/t Au (see Table 2.0 below), underscoring the quality of the updated resource and its potential to support future development. Most importantly, the North, South and Southwest Deposits remain open for expansion through ongoing drilling, while our broader 65-kilometre Clarence Stream district continues to provide significant discovery potential." "With four drill rigs currently operating as part of our planned 40,000-metre 2026 drill program, Galway is well positioned to continue expanding and upgrading the Mineral Resource, make new discoveries across our 65-kilometre district, and advance Clarence Stream through future economic studies. Notably, the next milestone for Clarence Stream is the Preliminary Economic Assessment (PEA). We are currently reviewing proposals for this next step." 1 For complete details of the previous resource, refer to: "Technical Report on the Clarence Stream Mineral Resource Project, New Brunswick, Canada" dated March 31, 2022, prepared by SLR Consulting Ltd. Table 1.0: Summary of Mineral Resources as of May 29, 2026 Mining Method Deposit Category Tonnage (‘000 t) Grade Contained Metal (g/t Au) (ppm Sb) (‘000 oz Au) (t Sb) Open Pit North Indicated 2,131 1.83 4,519 125 9,600 Inferred 2,562 2.16 727 178 1,900 South Indicated 10,920 1.72 847 604 9,200 Inferred 879 1.69 416 48 400 Southwest Indicated 13,631 1.43 17 627 200 Inferred 21,729 1.13 14 791 300 Sub-totals, Open Pit Indicated 26,682 1.58 716 1,356 19,000 Inferred 25,170 1.26 100 1,017 2,500 Underground North Indicated 0 0 0 0 0 Inferred 0 0 0 0 0 South Indicated 519 3.62 718 60 400 Inferred 787 3.37 637 85 500 Southwest Indicated 0 0 0 0 0 Inferred 2,581 2.24 14 186 37 Sub-totals, Underground Indicated 519 3.60 719 60 400 Inferred 3,368 2.50 160 271 500 Open Pit + Underground Grand Total Indicated 27,201 1.62 716 1,416 19,500 Inferred 28,538 1.40 107 1,288 3,100 Notes: 1. CIM (2014) definitions were followed for Mineral Resources. 2. Mineral Resources are estimated at a cut-off grade of $31/t NSR and $171/t NSR for open pit and underground, respectively. 3. Mineral Resources are estimated using a long-term gold price of US$3,250 per ounce, a long-term antimony price of US$29,000/t, and a US$/C$ exchange rate of 1.35. 4. Minimum mining widths of approximately three metres were used for the open pit portion of the North and South Zone deposits. A minimum mining width of approximately 1.5 m was used for the underground portion of the South Zone deposit. A minimum width of approximately two metres was used for the Southwest deposit. 5. Bulk density is 2.74 t/m3 for the North Zone mineralization, is 2.81 t/m3 for the South Zone mineralization, and 2.73 t/m3 for the Southwest Deposit mineralization. The bulk densities for the Southwest Zone mineralization range from 2.39 t/m3 to 2.77 t/m3. 6. Mineral Resources are inclusive of Mineral Reserves. 7. There are no Mineral Reserves at Clarence Stream. 8. Open pit Mineral Resource statements are prepared using surfaces generated using the pseudoflow algorithm. 9. Underground Mineral Resource statements are prepared using three-dimensional shapes to outline volumes of continuous blocks which satisfy the cut-off grade and minimum width criteria. 10. Numbers may not add due to rounding. 11. Antimony contents are rounded to the nearest 100 tonnes. Table 2.0: Distribution of Gold Contents by Gold Grade Bins at 3.0 g/t Au, 5.0 g/t Au and 10.0 g/t Au Threshold Values for the Combined Open-pit and Underground North Deposit, South Deposit and Southwest Deposit Resource. Gold Ounces Above 3.0 g/t Au Deposit Indicated Mineral Resource (Au oz) Tonnage ('000 t) Inferred Mineral Resource (Au oz) Tonnage ('000 t) North 72,113 389 91,004 542 South 339,477 1,790 88,148 612 Southwest 293,469 1,161 382,923 2,024 Total 705,059 3,340 562,075 3,178 Gold Ounces Above 5.0 g/t Au Deposit Indicated Mineral Resource (Au oz) Tonnage ('000 t) Inferred Mineral Resource (Au oz) Tonnage ('000 t) North 46,827 188 51,321 218 South 222,353 840 30,232 145 Southwest 224,285 598 242,888 879 Total 493,465 1,626 324,441 1,242 Gold Ounces Above 10.0 g/t Au Deposit Indicated Mineral Resource (Au oz) Tonnage ('000 t) Inferred Mineral Resource (Au oz) Tonnage ('000 t) North 12,751 29 9,389 23 South 80,822 183 616 2 Southwest 143,047 229 94,895 199 Total 236,620 441 104,900 223 Notes: 1. Open pit grade distributions are reported by applying the respective grade thresholds to Mineral Resource blocks contained within the base case pit shell with a pit discard value greater than $31/t NSR. 2. Underground grade distributions for the Mineral Resources are reported by applying the respective grade thresholds to constraining volumes created using a threshold value of $171/t NSR. 3. Due to spatial variability, the reported tonnages and grades for each grade bin may not be achieved during a potential extraction scenario. The reported tonnages and grades are to be considered as indicative of the tonnes, average grade, and contained metal within each grade bin only. 4. No spatial continuity for the tonnages, average grade, and contained metal within each grade bin is implied. 5. Sums may not add due to rounding. Updated Resource Estimate Overview The updated Mineral Resource Estimate incorporates results from approximately 340 diamond drill holes totalling approximately 70,000 metres completed since the 2022 Mineral Resource Estimate. The updated estimate reflects a significant increase in resource confidence and incorporates revised geological interpretations and resource modelling for the North, South and Southwest Deposits. The updated Mineral Resource contains a substantial higher-grade component, with approximately 50% of contained Indicated gold ounces occurring at grades above 3.0 g/t Au, including approximately 35% occurring at grades above 5.0 g/t Au. A detailed breakdown of contained ounces by grade threshold is provided in Table 2.1. Open-pit Mineral Resources demonstrate relatively consistent contained ounces and average grades across a broad range of long-term gold price assumptions, highlighting the robustness of the Mineral Resource under varying gold price scenarios (Table 3.0). The updated MRE includes open-pit Mineral Resources of 1.36 million ounces of gold in the Indicated category and 1.02 million ounces of gold in the Inferred category. Underground Mineral Resources total 60,000 ounces of gold in the Indicated category and 271,000 ounces of gold in the Inferred category. Predominantly Open-Pit Constrained Mineral Resource Approximately 96% of the contained gold ounces within the Indicated Mineral Resource are constrained within optimized open-pit shells across the North, South and Southwest deposits. This predominance of open-pit constrained Mineral Resources provides a strong foundation for future development studies while preserving opportunities for future underground expansion, particularly within the South and Southwest deposits. Continued Growth Potential The updated MRE is centred on the established North, South and Southwest Deposits, each of which remains open for expansion through continued drilling. While exploration to date has largely focused on defining near-surface mineralization suitable for open-pit extraction, significant opportunities remain to evaluate extensions of the deposits both along strike and at depth. At the North Deposit, drilling completed since the 2022 Mineral Resource Estimate has extended mineralization beyond the limits of the previous pit-constrained resource, including within the northern extension area located approximately 430 metres north of the 2022 pit shell. Recent drilling has also identified opportunities to further evaluate mineralization between previously modelled zones and along the western portion of the deposit. The South and Southwest Deposits remain important targets for future resource growth and conversion. The Southwest Deposit is characterized by broad zones of gold mineralization with potential for bulk-tonnage development scenarios, while the South Deposit contains higher-grade vein-hosted mineralization that remains prospective for additional expansion at depth. Beyond the established deposits, Galway controls an approximately 65-kilometre prospective gold trend containing numerous gold showings, geochemical anomalies and untested exploration targets, providing potential opportunities for future discoveries across the broader Clarence Stream district. Next Steps Four diamond drill rigs are currently operating at Clarence Stream as part of the Company's approximately 40,000 metre 2026 drill program. Two rigs are focused on resource expansion and infill drilling around the North, South and Southwest Deposits, while two additional rigs are testing regional and near-deposit exploration targets with the objective of making new discoveries across the broader Clarence Stream district. In addition to the ongoing drill program, Galway's next phase of work at Clarence Stream is expected to include the following activities: Expansion and delineation drilling at the North, South and Southwest Deposits to support further resource growth, resource conversion and refinement of the geological model; Additional metallurgical test work to further evaluate gold recovery, processing characteristics and potential optimization opportunities across the established deposits; Waste rock characterization studies to support mine planning, environmental assessment and future project design; Geotechnical drilling and engineering studies to support future pit design, infrastructure planning and development evaluations; Continued evaluation of development scenarios utilizing the updated Mineral Resource Estimate and supporting technical studies; Evaluation of a Preliminary Economic Assessment (PEA); and Continued district-scale exploration across Galway's approximately 65-kilometre prospective gold trend, including follow-up work on regional exploration targets. Review by Qualified Person The Mineral Resource Estimate for the North and South deposits was prepared by Mr. Reno Pressacco, P.Geo., M.Sc.(A)., FGC, SLR Associate Principal Geologist. The Mineral Resource Estimate for the Southwest deposit was prepared by Mr. Charles Parkinson, P.Geo., SLR Project Manager under the supervision of Mr. Pressacco. Mr. Pressacco is a Qualified Person independent of Galway as defined by NI 43-101 and has read and approved the scientific and technical content of this news release as it relates to the Updated Mineral Resource Estimate. The scientific and technical information contained in this news release has been reviewed and approved by Jason Flight, P.Geo., Vice President of Exploration for Galway and Jesse Fisher, P.Geo., Project Manager for Clarence Stream and a Qualified Persons as defined by National Instrument 43-101. Mr. Fisher certifies that this news release fairly and accurately reflects the technical information and data presented. Galway Metals conducts its exploration activities in accordance with CIM Exploration Best Practice Guidelines. Quality Control and Reports All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41 Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. Drill core is NQ size and sample intervals range from 0.5 meters to 1.5 meters in length. All samples are assayed for gold by Fire Assay, with gravimetric finish, and other elements assayed using ICP. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. Core recovery in the mineralized zones has averaged 99%. About Galway Metals Inc. Galway Metals is a Canadian mineral exploration and development company focused on advancing its 100%-owned, high-grade, open-pitable flagship Clarence Stream gold project in southwest New Brunswick. Clarence Stream is an emerging gold district with an exploration strike length of approximately 65 kilometres and widths of up to 28 kilometres in certain areas. Galway Metals holds a 90% participating interest in the Estrades Project, a former producing high-grade, gold-rich polymetallic VMS mine in the northern Abitibi of western Québec. DOWA METALS & MINING CO., LTD. ("DOWA") holds a 10% participating interest pursuant to the previously announced Option and Joint Venture Term Sheet under which DOWA may earn up to a 45% interest in the Project. Led by a management team with a proven track-record of creating shareholder value having sold Galway Resources for US$340 million, Galway Metals is focused on creating value for all its stakeholders. For additional Information on Galway Metals Inc., Please contact: Robert Hinchcliffe President & Chief Executive Officer Telephone: 1-800-501-4808 Email: [email protected] Website: www.galwaymetalsinc.com Look us up on Facebook, Twitter or LinkedIn Cautionary Statement Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements" and "forward-looking information" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development, and those risks set out in the Company's public documents filed on SEDAR+ at sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. SOURCE: Galway Metals Inc. View the original press release on ACCESS Newswire