Galway Metals Inc. reported assay results from its diamond drilling program at the Southwest Deposit at the Company's 100%-owned Clarence Stream high-grade gold project in New Brunswick, Canada. The Southwest Deposit, as well as the South and North Deposits, are open in all directions for expansion. Management believes that the Clarence Stream gold project has district-scale potential with an exploration strike length of approximately 65 kilometres.

Holes BL-251 and BL-252 were drilled to test the down dip expansion of high-grade gold mineralization. Both holes intersected visible gold within sericite altered quartz veining and extended the deposit 106 metres from previous high-grade intercepts (BL-72 and BL-87). Holes BL-249, BL-250 and holes BL-253 through BL-258 were testing up-dip extensions to bring gold mineralization to the surface, which was confirmed with these assay results.

The intercepts highlighted within this press release are all outside the area that was included in the 2022 Mineral Resource Estimate. Two Additional Areas were Explored to Test: The down-dip and western extensions of the Southwest Deposit; Hole BL-220 intersected 0.84 g/t gold over 21 metres and 0.79 g/t gold over 6 metres, confirming gold mineralization below the known resource; Hole BL-202 intersected 2.23 g/t gold over 1.0 metre, which is over 1 kilometre SW of the Southwest Deposit; Gold in soil anomalies on the western side of the Sorrel Ridge granite host the Southwest Deposit where gold zones are parallel to the granite contact; Hole PL-01 intersected 2.39 g/t gold over 0.8 metres. These encouraging results show the strong potential for additional gold discoveries along the boundaries with any of the felsic intrusions, and in structures parallel to the Sawyer Brook Fault at the Clarence Stream gold project.

Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which partially funded drilling of the Southwest Deposit.