Toronto - Galway Metals Inc. (TSX-V: GWM) (the 'Company' or 'Galway') is pleased to report assay results from a new discovery from wildcat exploration drilling at the Company's Clarence Stream project in southwest New Brunswick, Canada.

This hole, the first in the area, is located 900m NW and likely along a different trend than the discovery hole in the previously-reported New Discovery (now named the Adrian Zone) of 13.4 grams per tonne (g/t) Au over 12.95 metres (m). The new discovery intersected 4.8 g/t Au over 3.1m in sediments between two intrusions (20m away from one) and is controlled by a fault.

In the other hole being reported, an intersection of 9.4 g/t Au over 0.5m with visible gold (VG) was returned from a stepout hole located 400m east of the previous eastern limit, and along strike of the GMZ. The intervening 400m is the continuation of the soil anomaly that led to the discovery of the GMZ in December 2017, and has not yet been drilled. Results from this hole cover a core length of 6m that were RUSHED out of the 391.5m total; the balance of this hole remains pending.

Galway is Increasing its Drill Count to 7 Rigs from 5 at Clarence Stream

Given the three new discoveries Galway has made in recent months (13.4 g/t Au over 12.95m, 186.5 g/t Au over 0.6m and 4.8 g/t Au over 3.1m), which are now targeted for follow up drilling, plus the highly prospective claims recently acquired that the Company plans to drill (August 25, 2020), plus the goal of completing the drill program for the pending resource update, Galway has decided to expand its drill program at Clarence Stream to 7 rigs from 5. The 6th rig is expected to arrive in January and the 7th in February. This drilling, which will result in an increase in the 2020-21 program to 100,000m from 75,000m, is expected to further demonstrate that Clarence Stream is an important new gold district in North America.

About the Company

Galway Metals is well capitalized with two gold projects in Canada, Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade VMS mine in Quebec. The Company began trading on January 4, 2013, after the 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.

Contact:

Robert Hinchcliffe

Tel: 1-800-771-0680

Web: www.galwaymetalsinc.com

CAUTIONARY STATEMENT

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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