Galway Metals Adrian and GMZ Gaps Return 5.8 g/t Au Over 55.5m, and 8.1 g/t Au over 17.5m

Dec 7, 2021

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(Toronto, Ontario, December 7, 2021) - Galway Metals Inc. (TSX-V: GWM, OTCQB: GAYMF) (the "Company" or "Galway") is pleased to report drill results that expand the Adrian Zone in multiple directions, and the George Murphy Zone where the Company recently reported a 50% strike length expansion. Significant potential exists to be able to combine the GMZ with the Adrian and Richard Zones at its Clarence Stream property in southwest New Brunswick, Canada.

Adrian Zone Highlights:

  • The wide vein within the Adrian Zone was previously expanded by 44 metres (m) to the northeast with an intersect that now returns 5.8 g/t Au over 55.5m in hole CL-122 (originally reported as 38.6 g/t Au over 7.5m with assays pending; assays are still pending) from a previously-released intersect that returned 1.1 g/t Au over 78.5m in hole CL-52
  • This vein has now been expanded 192m northeast with 2.2 g/t Au over 10.7m in hole 136 from the intersect in hole CL-52
  • A deeper vein in the Adrian Zone was expanded 207m south with an intersect that returned 97.7g/t Au over 1.0m in hole CL-139 from several previously-released intersects such as 22.7 g/t Au over 3.5m (hole CL-92), 5.7 g/t Au over 25.0m (hole CL-103), and 12.9 g/t Au over 2.0m (hole CL-116)

George Murphy Zone Highlights:

  • Drilling in the George Murphy Zone (GMZ) has intersected 8.1 g/t Au over 17.5m in hole CL-136. This intersection is located 108m southwest of a previously-reported intersect in hole 109 that returned 1.7 g/t Au over 10.0m
  • These GMZ intersects are located within the 400m gap between the previous northeastern edge of the GMZ and wildcat step-out hole CL-75 that returned 9.4 g/t Au over 0.5m, which represented a 50% expansion of the GMZ to more than 1.1km
  • Most of these wide and high-grade intersections from both the GMZ and Adrian Zones are likely to fall within pit shells. For details, refer to Figure 1, Figure 2 and Figure 3

"Galway continues to receive wide and high-grade drill results that are expanding the GMZ and Adrian Zones and significantly improving the potential to combine these two pits into one. We see the same potential with the GMZ and Richard Zones where wide mineralized intersects were recently released and where additional assays are pending. We believe these pending results will contribute significantly to the ability to combine these zones, enhance the economics of the project and benefit the resource update. As a result, the resource update will be released in the first quarter rather than this month," cites Robert Hinchcliffe, President and CEO of Galway Metals, "We are pleased to see many of the holes drilled have wide intersects in both the GMZ and Adrian Zones. There are pending assays in both zones and mineralization appears to continue past the intersects being released."

Drill Highlights

  • Hole CL-122 intersected 5.8 g/t Au over 55.5m (previously reported as 38.5 g/t Au over 7.5m), which includes 151.0 g/t Au over 0.5m, 144.0 g/t Au over 0.55m, 110.0 g/t Au over 0.5m, 41.6 g/t Au over 0.5m, 21.2 g/t Au over 0.5m, 23.7 g/t Au over 0.5m, and 35.4 g/t Au over 0.5m, plus 34.0 g/t Au over 0.5m, starting at vertical depths of 176m and 226m
  • Hole CL-120 intersected 3.9g/t Au over 17.0m (previously reported as 10.2 g/t Au Over 6.0m), including 91.2 g/t Au over 0.5m, plus 0.9g/t Au over 52.5m, including 4.0 g/t Au over 3.0m, 4.3 g/t Au over 1.0m, and 7.6 g/t Au over 0.5m, starting at vertical depths of 115m, and 169m
  • Hole CL-136 intersected 8.1g/t Au over 17.5m, including 89.2 g/t Au over 0.5m and 88.8 g/t Au over 0.65m, plus 2.2g/t Au over 10.7m, including 16.9 g/t Au over 0.5m, and 20.4 g/t Au over 0.5m, plus 1.0 g/t Au over 13.0m, including 7.1 g/t Au over 1.0m, starting at vertical depths of 85m, 201m, and 175m
  • Hole CL-139 intersected 97.7g/t Au over 1.0m, including 193.0 g/t Au over 0.5m, plus 2.0 g/t Au over 7.0m, including 17.9 g/t Au over 0.5m, plus 1.0 g/t Au over 8.5m, including 2.7 g/t Au over 1.5m, starting at vertical depths of 222m, 235m, and 147m
  • Hole CL-126 intersected 1.1g/t Au over 37.3m, including 3.6 g/t Au over 1.0m, 3.4 g/t Au over 1.0m, and 3.2 g/t Au over 1.0m, starting at a vertical depth of 150m
  • Hole CL-94 intersected 1.2g/t Au over 34.0m, including 16.0 g/t Au over 1.0m, starting at a vertical depth of 155m
  • Hole CL-117 intersected 1.3g/t Au over 19.5m, including 9.5 g/t Au over 1.0m, 3.3 g/t Au over 1.0m, and 3.6 g/t Au over 0.5m, starting at a vertical depth of 80m
  • Hole CL-123 intersected 11.2g/t Au over 4.25m, including 77.7 g/t Au over 0.6, starting at a vertical depth of 133m
  • Hole CL-134 intersected 5.5 g/t Au over 4.7m, including 23.8 g/t Au over 0.5m, and 16.5 g/t Au over 0.7m, starting at a vertical depth of 179m
  • Hole CL-102 intersected 1.0g/t Au over 24.0m, including 3.6 g/t Au over 2.5m, and 5.3 g/t Au over 1.5m, starting at a vertical depth of 139m
  • Hole CL-105 intersected 6.5g/t Au over 3.5m, including 14.8 g/t Au over 0.5m, plus 3.9 g/t Au over 4.0m, including 12.6 g/t Au over 1.0m, plus 0.5 g/t Au over 11.5m, starting at vertical depths of 166m, 191m, and 206m
  • Hole CL-103 intersected 2.4g/t Au over 6.0m, plus previously-released 5.7 g/t Au over 25.0m, including 20.5 g/t Au over 5.95m, starting at vertical depths of 229m and 286m
  • Hole CL-107 intersected 3.4g/t Au over 7.0m, including 12.3 g/t Au over 1.0m, starting at a vertical depth of 297m
  • Hole CL-98 intersected 1.1g/t Au over 11.5m, including 6.4 g/t Au over 0.5m, and 3.8 g/t Au over 1.5m, starting at a vertical depth of 165m
  • Hole CL-91 intersected 0.7g/t Au over 21.0m, including 2.1 g/t Au over 1.5m, starting at a vertical depth of 84m
  • Hole CL-125 intersected 0.6g/t Au over 19.0m, including 2.0 g/t Au over 1.0m, starting at a vertical depth of 172m
  • Hole CL-121 intersected 1.6g/t Au over 10.2m, starting at a vertical depth of 185m
  • Hole CL-93 intersected 0.8g/t Au over 15.2m, including 2.9 g/t Au over 1.0m, plus 0.5g/t Au over 19.0m, starting at vertical depths of 190m, and 162m
  • Hole CL-101 intersected 1.0 g/t Au over 5.5m, including 3.3 g/t Au over 1.0m starting at a vertical depth of 260m
  • Hole CL-82 intersected 1.5 g/t Au over 5.05m, plus previously released 1.5 g/t Au over 14.6m, including 8.7 g/t Au over 1.05m, and 4.2 g/t Au over 0.6m, starting at vertical depths of 295m and 68m

ADRIAN INCREASES

Most of the new intersections are located down-dip from the original Adrian discovery holes where the zone appears to flatten and thicken considerably before intersecting the steeper GMZ. The 5.8 g/t Au over 55.5m intersection in hole 122 is preceded by 20%-55% quartz for 60 metres with pending assays. It is located 44m northeast of another wide intersection from hole CL-52 which returned 1.1 g/t Au over 78.5m. Going northeast from these holes, the closest intersections are 1.1 g/t Au over 37.3m in hole 126, located 78m away, but that is at a higher elevation - assays are pending for mineralized core further down where the main part of the zone should be. Hole 136 appears to have intersected the same zone, returning 2.2 g/t Au over 10.7m, located 192m northeast of the intersect in hole 52. Holes 125, 126, 144, 147, 150, 152 are pending most or all assays for this zone.

Hole 139 intersected 193.0 g/t Au over 0.5m plus 2.0 g/t Au over 7.0m, which appear to line up with a high-grade zone that has previously-reported intersections of 22.7 g/t Au over 3.5m, including 98.7 g/t Au over 0.5m (hole 92), 5.7 g/t Au over 25.0m, including 20.5 g/t Au over 5.95m (hole 103), and 12.9 g/t Au over 2.0m, including 48.2 g/t Au over 0.5m (hole 116). These intersections are located 207m to the northeast of hole 139 with numerous holes between pending assays. Hole 107 has intersected this high-grade zone, returning 3.4 g/t Au over 7.0m, located 42m southwest of hole 116.

Hole 98 intersected 1.1 g/t Au over 11.5m, which represents the furthest northeastern intersection in Adrian, located 35m east of the 12.9 g/t Au over 2.0m in hole 116 - but not in the same zone.

The intersections in holes 91 and 82 appear to line up with previously-released hole 77 (1.3 g/t Au over 35.3m, plus 0.9 g/t Au over 14.8m) and likely represent where the folded Adrian Zone comes towards surface.

GMZ INCREASES

The GMZ has been intersected in hole 136, returning 8.1 g/t Au over 17.5m. This intersection is located within the previous 400m gap between the northeastern edge of the GMZ and wildcat step-out hole 75 that returned 9.4 g/t Au over 0.5m, which represented a 50% expansion of the GMZ to more than 1.1km. The intersection in hole 136 is located 108m to the southwest of previously-reported hole CL-109 that returned 1.7 g/t Au over 10.0m. Hole 117, which returned 1.3 g/t Au over 19.5m, intersected the same zone 64m below the 1.7 g/t Au over 10.0m. Holes 121, 122, 123, 125, 126, 130, 139, and 144 are pending most assays for this zone.

The GMZ/Adrian Zones are currently more than 1.1km long with multiple structures over 388m horizontal thickness (width), and with all veins open in every direction. The Adrian Zone is north of the GMZ and is part of the same overall system that Galway has been drilling during the past 4 years that stretches 3.1km from Adrian to the GMZ, Richard and Jubilee Zones (Adrian is flat dipping whereas the latter three are steeply dipping to the south). Soil anomalies, in conjunction with glacial till and stream sediment anomalies along magnetic lows led to the discovery of all 7 known gold deposits at Clarence Stream, and the property hosts many other as of yet untested gold anomalies.

Resource will be released in the first quarter of 2022

The Clarence Stream resource update targeted for this month is now scheduled for the first quarter. Galway has in excess of 8,000 samples pending assay results at the labs. There is generally an 8-12 week delay in receiving results, and the Company would like to incorporate key pending assays into the update. A recent previously-reported intersection of 1.3 g/t Au over 41.15 metres in the 400m gap between the Richard and the GMZ came from an area with numerous holes pending all assays. This area too is key to the resource because it could combine two pits into one. Galway plans on incorporating all zones discussed in this press release, Adrian, GMZ, Richard and Jubilee, which cover a strike length of 3.1km, as well as the existing South and North Zones, into the resource update.

Table 1: Drill Result Highlights

Hole ID From To Intercept TW Au Zone
(m) (m) (m) (m) g/t
GWM20CL-40 73.25 83.05 9.80 6.5 1.1** GMZ
including 75.70 76.55 0.85 4.1** GMZ
85.60 86.60 1.00 0.6** GMZ
92.85 96.50 3.65 1.2** GMZ
180.40 188.90 5.90 4.0 0.7** GMZ
including 185.25 186.00 0.75 0.50 2.5** GMZ
197.00 197.95 0.95 0.6** GMZ
GWM20CL-48 66.50 68.00 1.50 0.4 Adrian
GWM20CL-52 100.50 102.00 1.50 1.6 ** Adrian
148.00 149.50 1.50 1.2** Adrian
173.00 174.50 1.50 5.9** Adrian
177.50 179.00 1.50 2.3** Adrian
189.50 231.00 41.50 1.3 ** Adrian
152.50 231.00 78.50 76.10 1.1** Adrian
including 191.00 197.00 6.00 5.80 4.7 ** Adrian
including 204.00 204.50 0.50 0.50 2.3** Adrian
including 226.00 226.50 0.50 0.50 5.7 ** Adrian
including 227.50 228.00 0.50 0.50 2.4** Adrian
including 230.50 231.00 0.50 0.50 2.3** Adrian
352.00 354.50 2.50 0.5 Adrian
GWM20CL-81 178.00 179.00 1.00 0.6 Adrian
179.85 184.55 4.70 33.7 VG** Adrian
including 180.35 182.50 2.15 60.7 VG** Adrian
188.60 189.10 0.50 0.6 Adrian
190.65 192.65 2.00 0.5 Adrian
198.60 201.00 2.40 0.7 Adrian
226.50 229.50 3.00 0.6 Adrian
268.50 270.00 1.50 1.5** Adrian
309.00 310.50 1.50 0.5 Adrian
312.00 315.00 3.00 1.2** Adrian
GWM20CL-82 22.40 23.10 0.70 1.8** Adrian
31.80 32.50 0.70 2.2** Adrian
68.00 69.00 1.00 1.0** Adrian
72.65 86.55 13.90 1.5** Adrian
including 73.65 74.25 0.60 4.2** Adrian
including 78.70 79.75 1.05 8.7** Adrian
91.40 92.20 0.80 0.4 Adrian
100.25 103.85 3.60 0.5** Adrian
112.85 115.70 2.85 0.9** Adrian
169.30 171.25 1.95 0.5** Adrian
180.00 181.05 1.05 0.7** Adrian
203.80 204.45 0.65 1.7** Adrian
238.15 239.20 1.05 0.6 Adrian
311.05 316.10 5.05 1.5** Adrian
332.65 333.20 0.55 0.7 Adrian
337.00 339.00 2.00 0.6 Adrian
GWM21CL-89 87.50 88.50 1.00 3.8** Adrian
118.50 120.00 1.50 0.9 Adrian
138.00 139.50 1.50 0.5 Adrian
179.00 182.00 3.00 78.4** Adrian
including 181.00 181.50 0.50 313** Adrian
including 181.50 182.00 0.50 147** Adrian
184.00 185.00 1.00 0.7** Adrian
190.00 202.00 12.00 0.5 Adrian
207.50 209.00 1.50 0.5 Adrian
227.00 228.50 1.50 0.4 Adrian
240.50 241.50 1.00 6.4 Adrian
251.50 252.50 1.00 0.4 Adrian
256.00 257.50 1.50 0.7 Adrian
266.00 267.00 1.00 0.4 Adrian
285.00 327.00 42.00 pending Adrian
GWM21CL-90 143.00 145.50 2.50 1.2 Adrian
156.00 157.50 1.50 0.7 Adrian
171.00 172.50 1.50 0.4 Adrian
211.00 213.00 2.00 0.5 Adrian
219.00 220.50 1.50 0.5 Adrian
222.00 224.00 2.00 0.9 Adrian
226.00 227.00 1.00 0.5 Adrian
229.00 230.00 1.00 0.4 Adrian
236.00 237.00 1.00 0.6 Adrian
240.00 242.00 2.00 1.0 Adrian
317.45 318.40 0.95 8.8 Adrian
365.60 367.00 1.40 1.4 Adrian
GWM21CL-91 60.00 61.50 1.50 0.5 Adrian
84.00 85.00 1.00 0.5 Adrian
90.50 111.50 21.00 0.7 Adrian
110.00 111.50 1.50 2.1 Adrian
138.50 140.00 1.50 0.6 Adrian
166.50 167.00 0.50 0.8 Adrian
178.50 179.00 0.50 2.2 Adrian
191.10 191.60 0.50 0.6 Adrian
197.50 198.00 0.50 0.5 Adrian
GWM21CL-93 144.00 148.50 4.50 0.6 Adrian
202.50 204.00 1.50 0.4 Adrian
207.00 226.00 19.00 0.5 Adrian
239.00 254.20 15.20 0.8 Adrian
including 246.00 247.00 1.00 2.9 Adrian
GWM21CL-94 155.00 156.00 1.00 0.6 Adrian
158.00 159.00 1.00 0.5 Adrian
167.00 168.00 1.00 0.4 Adrian
170.00 204.00 34.00 30.50 1.2 Adrian
including 178.00 179.00 1.00 0.90 16.0 Adrian
GWM20CL-96 43.75 44.60 0.85 0.4** Adrian
53.00 54.10 1.10 0.8** Adrian
62.15 63.65 1.50 0.5** Adrian
135.00 136.50 1.50 0.6 Adrian
146.00 147.00 1.00 9.9** Adrian
160.50 162.00 1.50 0.5 Adrian
175.00 184.00 9.00 0.9 Adrian
including 175.00 175.50 0.50 7.9 Adrian
190.15 209.00 18.85 0.7** Adrian
Including 199.65 200.20 0.55 8.5** Adrian
217.35 220.75 3.40 1.1** Adrian
204.00 204.50 0.50 1.1 Adrian
GWM21CL-98 71.00 72.00 1.00 5.2 Adrian
146.50 154.50 8.00 0.5 Adrian
163.50 168.50 5.00 1.3 Adrian
including 163.50 164.00 0.50 6.6 Adrian
180.00 180.50 0.50 0.5 Adrian
182.00 193.50 11.50 1.1 Adrian
including 182.00 183.50 1.50 3.8 Adrian
including 193.00 193.50 0.50 6.4 Adrian
201.00 501.00 300.00 pending Adrian
GWM21CL-101 183.00 184.00 1.00 0.6 Adrian
205.50 206.00 0.50 6.5 Adrian
215.50 217.00 1.50 0.8 Adrian
301.00 302.00 1.00 0.5 Adrian
304.00 309.50 5.50 1.0 Adrian
including 304.00 305.00 1.00 3.3 Adrian
347.00 381.50 34.50 pending Adrian
388.00 401.00 13.00 pending Adrian
GWM21CL-102 46.50 55.00 8.50 pending Adrian
145.00 169.00 24.00 1.0 Adrian
including 145.00 147.50 2.50 3.6 Adrian
including 151.00 152.50 1.50 5.3 Adrian
227.50 229.00 1.50 0.6 Adrian
GWM21CL-103 131.30 132.00 0.70 0.8 Adrian
321.00 327.00 6.00 2.4 Adrian
400.00 425.00 25.00 5.7** Adrian
including 408.05 414.00 5.95 20.5** Adrian
GWM21CL-105 169.50 173.00 3.50 6.5 Adrian
including 170.50 171.00 0.50 14.8 Adrian
181.00 185.00 4.00 0.5 Adrian
195.50 199.50 4.00 2.8 Adrian
including 196.00 197.00 1.00 12.8 Adrian
210.50 222.00 11.50 0.5 Adrian
GWM21CL-107 146.00 164.00 18.00 0.2 Adrian
214.00 214.50 0.50 1.6 Adrian
295.00 295.50 0.50 0.5 Adrian
300.00 307.00 7.00 3.4 Adrian
including 304.00 305.00 1.00 12.3 Adrian
GWM21CL-109 21.00 22.50 1.50 0.4
162.00 163.50 1.50 0.7
179.00 189.00 10.00 8.70 1.7**
including 187.00 188.00 1.00 0.90 8.0**
196.00 197.00 1.00 1.5**
200.00 543.00 343.00 pending
649.50 660.70 11.20 pending
GWM21CL-112 12.00 21.50 9.50 pending Adrian
30.00 99.00 69.00 pending Adrian
109.00 109.70 0.70 1.2 Adrian
153.00 163.00 10.00 1.6** Adrian
including 153.00 154.00 1.00 5.3** Adrian
including 158.00 159.00 1.00 5.5** Adrian
199.50 201.00 1.50 0.6 Adrian
222.00 223.50 1.50 3.7 Adrian
241.50 259.50 18.00 pending Adrian
298.00 308.00 10.00 0.8** Adrian
including 306.50 307.30 0.80 3.4** Adrian
321.00 366.00 45.00 pending Adrian
382.50 397.00 14.50 pending Adrian
408.00 418.00 10.00 pending Adrian
GWM21CL-116 123.00 126.00 3.00 0.4 Adrian
126.00 130.00 4.00 pending Adrian
159.00 159.50 0.50 2.0 Adrian
179.50 180.60 1.10 0.9 Adrian
191.00 194.00 3.00 1.3 Adrian
including 191.00 192.00 1.00 3.5 Adrian
217.50 218.00 0.50 0.5 Adrian
237.00 240.00 3.00 1.8 Adrian
including 237.00 237.50 0.50 7.0 Adrian
261.00 262.50 1.50 2.3 Adrian
297.50 299.00 1.50 0.9 Adrian
304.50 306.50 2.0 12.9** Adrian
including 305.00 305.50 0.50 48.2** Adrian
309.50 310.10 0.60 0.7 Adrian
315.00 316.50 1.50 0.5 Adrian
GWM21CL-117 84.00 103.50 19.50 5.40 1.3 GMZ
including 94.50 95.50 1.00 0.30 9.5 GMZ
including 90.50 91.50 1.00 0.30 3.3 GMZ
including 100.50 101.00 0.50 0.10 3.6 GMZ
107.30 108.30 1.00 0.4 GMZ
111.30 117.00 5.70 1.60 0.6 GMZ
145.80 146.50 0.70 1.0 GMZ
200.50 304.50 104.00 pending Adrian
309.00 310.50 1.50 0.5 Adrian
312.00 318.00 6.00 pending Adrian
GWM21CL-118 11.00 207.00 196.00 pending Adrian
270.00 327.10 57.10 pending Adrian
328.50 330.00 1.50 1.5 Adrian
331.50 333.00 1.50 0.6 Adrian
351.00 352.00 1.00 0.5 Adrian
363.00 364.00 1.00 12.9 Adrian
373.50 375.00 1.50 0.5 Adrian
375.00 381.00 6.00 pending Adrian
GWM21CL-119 46.00 104.50 58.50 pending GMZ
118.90 120.00 1.10 0.5 GMZ
122.00 123.20 1.20 0.5 GMZ
123.20 187.00 63.80 pending GMZ
198.40 220.00 21.60 20.60 0.7** GMZ
220.00 400.00 180.00 pending GMZ
GWM21CL-120 61.60 102.00 40.40 pending GMZ
108.00 142.00 34.00 pending GMZ
145.00 162.00 17.00 10.50 3.9 GMZ
including 143.50 144.00 0.50 0.30 0.6 GMZ
including 145.00 145.50 0.50 0.30 91.2 GMZ
145.00 151.00 6.00 10.2** GMZ
172.00 180.00 8.00 pending Adrian
188.00 189.00 1.00 0.5 Adrian
199.00 251.50 52.50 41.90 0.9 Adrian
including 204.00 207.00 3.00 2.40 4.0 Adrian
including 215.00 216.00 1.00 0.80 4.3 Adrian
including 251.00 251.50 0.50 0.40 7.6 Adrian
280.00 281.00 1.00 0.8 Adrian
309.00 310.00 1.00 0.4 Adrian
314.00 315.00 1.00 3.3 Adrian
366.50 385.00 18.50 pending Adrian
394.50 413.00 18.50 pending Adrian
413.00 419.25 6.25 0.6 Adrian
419.25 423.50 4.25 pending Adrian
423.50 429.00 5.50 0.5 Adrian
GWM21CL-121 154.50 158.00 3.50 1.40 1.6 GMZ
including 155.50 156.00 0.50 4.5 GMZ
162.00 181.00 19.00 pending GMZ
189.00 198.50 9.50 pending GMZ
201.00 211.20 10.20 4.10 1.6 GMZ
213.20 214.30 1.10 0.7 GMZ
229.50 230.50 1.00 1.7 GMZ
266.50 269.00 2.50 1.7 GMZ
including 267.50 268.00 0.50 6.0 GMZ
275.75 477.00 201.25 pending GMZ
GWM21CL-122 56.00 96.00 40.00 pending Adrian
137.00 196.50 59.50 pending Adrian
219.00 263.00 44.00 pending Adrian
263.00 318.50 55.50 36.60 5.8 Adrian
including 310.00 310.50 0.50 0.30 151.0** Adrian
including 314.00 314.55 0.55 0.40 144.0** Adrian
303.75 308.00 4.25 pending Adrian
340.00 340.50 0.50 34.0 Adrian
412.50 441.00 28.50 pending Adrian
GWM21CL-123 62.00 148.00 86.00 pending GMZ
151.25 155.50 4.25 2.10 11.2 GMZ
including 151.25 151.75 0.5 0.2 77.7 GMZ
155.50 180.00 24.50 pending GMZ
183.00 185.00 2.00 2.8 GMZ
185.00 426.50 241.50 pending GMZ
GWM21CL-125 57.00 226.00 169.00 pending Adrian
226.00 245.00 19.00 14.50 0.6 Adrian
244.00 245.00 1.00 0.80 2.0 Adrian
250.00 373.00 123.00 pending Adrian
GWM21CL-126 56.00 193.00 137.00 pending Adrian
197.00 234.30 37.30 28.80 1.1 Adrian
including 208.00 209.00 1.00 8.00 3.4 Adrian
including 213.00 214.00 1.00 0.80 3.6 Adrian
including 222.00 223.00 1.00 0.80 3.2 Adrian
239.50 330.00 90.50 pending Adrian
GWM21CL-130 25.00 195.00 170.00 pending GMZ
198.00 201.00 3.00 0.9 GMZ
202.00 324.00 122.00 pending GMZ
GWM21CL-134 154.00 155.00 1.00 0.5 GMZ
160.00 162.00 2.00 1.0 GMZ
187.00 188.00 1.00 2.2 GMZ
195.00 199.70 4.70 2.10 5.5 GMZ
including 198.50 199.00 0.50 0.20 23.8 GMZ
including 199.00 199.70 0.70 0.30 16.5 GMZ
212.15 213.00 0.85 0.6 GMZ
221.00 222.00 1.00 1.1 GMZ
231.50 240.00 8.50 0.7 GMZ
249.00 252.50 3.50 0.6 Adrian
257.00 258.00 1.00 1.0 Adrian
GWM21CL-136 109.00 126.50 17.50 11.40 8.1 GMZ
including 121.50 122.00 0.50 0.30 89.2 GMZ
including 122.00 122.65 0.65 0.40 88.8 GMZ
130.50 131.50 1.00 0.7 GMZ
165.00 166.85 1.85 0.5 GMZ
229.00 242.00 13.00 9.90 1.0 Adrian
including 241.00 242.00 1.00 0.80 7.1 Adrian
251.70 253.00 1.30 1.0 Adrian
259.00 260.00 1.00 0.6 Adrian
263.30 274.00 10.70 8.20 2.2 Adrian
including 263.30 263.80 0.50 0.40 16.9 Adrian
including 264.65 265.15 0.50 0.40 20.4 Adrian
284.00 285.00 1.00 0.9 Adrian
306.00 312.65 6.65 0.7 Adrian
324.00 325.00 1.00 0.7 Adrian
GWM21CL-139 42.00 154.50 112.50 pending GMZ
167.00 175.50 8.50 3.90 1.0 GMZ
including 170.00 171.50 1.50 0.70 2.7 GMZ
186.50 230.50 44.00 pending Adrian
252.00 252.50 0.50 0.5 Adrian
254.00 255.00 1.00 97.7 Adrian
including 254.00 254.50 0.50 193.0 Adrian
267.50 274.50 7.00 2.0 Adrian
including 267.50 268.00 0.50 17.9 Adrian
279.50 375.00 95.50 pending Adrian

** previously released; VG = visible gold. 0.42 g/t Au was used for the bottom cut-off; True widths are unknown if not noted.

New Brunswick Junior Mining Assistance Program

Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which partially funded drilling of the GMZ, Jubilee, and Richard Zones.

Geology and Mineralization

The discovery of the Richard Zone in hole 12 contains elevated levels of bismuth, arsenopyrite, and antimony, in multiple quartz veins, with tungsten in the vicinity. This is similar to other Clarence Stream deposits, which can be characterized as intrusion-related quartz-vein hosted gold deposits. The Richard Zone contains multiple zones of quartz veining with sulfides and sericite alteration. In general, mineralization at Clarence Stream consists of 10-70% quartz stockworks and veins with 1-5% fine pyrite plus pyrrhotite plus arsenopyrite plus stibnite in sericite altered sediments. The Jubilee mineralization consists of 2%-5% disseminated pyrite, sphalerite, galena, arsenopyrite, chalcopyrite, and pyrrhotite in sediments with white to smoky grey quartz veining. Locally there is up to 10% sphalerite and semi-massive galena veinlets. The 2.5 km trend that hosts the GMZ, Richard and Jubilee Zones contains a mineralized mafic intrusive locally - similar to the South Zone, which currently hosts most of the property's last reported gold resources (September 2017). A more complete description of Clarence Stream's geology and mineralization can be found at www.galwaymetalsinc.com.

Review by Qualified Person, Quality Control and Reports

Michael Sutton, P.Geo., Director and VP of Exploration for Galway Metals, is the Qualified Person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals Inc. 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. 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%.

Table 2: Drill Hole Coordinates

Hole ID Azimuth Dip Easting Northing Depth
GWM20CL-40 122 -48 654391 5022582 204
GWM20CL-48 339 -45 5023060 654230 339
GWM20CL-52 345 -75 654368 5022562 393
GWM20CL-81 85 -70 654366 5022822 408
GWM20CL-82 85 -70 654363 5022871 381
GWM21CL-89 120 -67 654359 5022870 242
GWM21CL-90 326 -47 654482 5022649 369
GWM21CL-91 100 -70 654359 5022870 240
GWM21CL-93 317 -55 654482 5022649 396
GWM21CL-94 315 -65 654482 5022649 369
GWM20CL-96 95 -45 653896 5022081 492
GWM21CL-98 316 -66 654553 5022834 201
GWM21CL-101 108 -60 654359 5022870 347
GWM21CL-102 73 -78 654362 5022829 240
GWM21CL-103 310 -45 654657 5022676 465
GWM21CL-105 66 -78 654366 5022802 309
GWM21CL-107 78 -83.5 654422 5022812 330
GWM21CL-109 310 -60 654657 5022676 680
GWM21CL-112 80 -81 654435 5022828 288
GWM21CL-116 80 -80 654396 5022852 321
GWM21CL-117 310 -75 654656 5022676 318
GWM21CL-118 60 -81 654371 5022783 381
GWM21CL-119 305 -59 654604 5022607 400
GWM21CL-120 312 -56 654564 5022510 429
GWM21CL-121 312 -67 654564 5022510 477
GWM21CL-122 312 -45 654564 5022510 441
GWM21CL-123 310 -61 5022476 654546 427
GWM21CL-125 310 -50 654546 5022477 373
GWM21CL-126 313 -51 654583 5022546 330
GWM21CL-130 317 -62 654583 5022547 324
GWM21CL-134 315 -71 654583 5022546 327
GWM21CL-136 310 -53 654648 5022613 369
GWM21CL-139 296 -62.5 654645 5022627 375

For results of all holes that Galway has drilled at Clarence Stream, go to Galway's website at www.galwaymetalsinc.com.

Figure 1: Plan Map of the Adrian, GMZ, Richard and Jubilee Zones

Figure 2: Plan Map of the Adrian and GMZ Zones

Figure 3: GMZ and Adrian Cross Section

About the Company

Galway Metals is well capitalized with two projects in Canada: Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade, gold-rich VMS polymetallic mine in Quebec. The Company began trading on January 4, 2013, after its successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million sale of that company. With substantially the same management team and Board of Directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.

Should you have any questions and for further information, please contact (toll free):

Galway Metals Inc.

Robert Hinchcliffe

President & Chief Executive Officer

1-800-771-0680

Website: www.galwaymetalsinc.com

Email: info@galwaymetalsinc.com

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CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that 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 statements made herein with respect to, among other things, the Company's objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company's public disclosure documents filed on SEDAR. Although the Company believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management's expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, 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 contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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Galway Metals Inc. published this content on 07 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 December 2021 12:11:04 UTC.