TORONTO - Galway Metals Inc. (TSXV: GWM) (the 'Company' or 'Galway') is pleased to report expansions in three areas at its Clarence Stream property in southwest New Brunswick, Canada, as follows.

New Discovery Area: follow-up to discovery hole CL-72 that intersected 4.8 g/t Au over 3.1m with new hole CL-111, which returned 4.1 g/t Au over 10.25m. This area is located 900m NW of the Adrian Zone

George Murphy Zone (GMZ): expanded by 50% along strike to over 1.1km with 1.7 g/t Au over 10.0m in hole CL-109.

Adrian Zone : expanded by 49m to the SE with visible gold (VG) in hole CL-116, plus hole CL-103 intersected 5.7 g/t Au over 25.0m, located 61m NW of the hole 116 intersection, and 16.4m west of 22.7 g/t Au over 3.5m in previously-reported hole CL-92

'You've got to love the constant new discoveries and subsequent expansions just like we predicted, based on geologic evidence. We feel comfortable to predict that there's more to come. The upcoming resource will potentially have plenty of room to grow,' cites Robert Hinchcliffe, President and CEO of Galway Metals.

New Discovery 900m NW of Adrian: Confirmed with Additional Mineralization in Follow-Up Drilling

Follow-up drilling was undertaken around discovery hole CL-72 that intersected 4.8 g/t Au over 3.1m in sediments between two intrusions (20m away from one) and that was controlled by a fault. Follow-up hole CL-111 intersected 4.1 g/t Au over 10.25m in what is likely another vein. This hole intersected 5 separate veins. The area is located 900m NW and likely along a different trend than the Adrian Zone, which was discovered in July 2020 and returned 13.4 grams per tonne (g/t) Au over 12.95 metres (m) in discovery hole CL-65.

GMZ Zone: Extended by 50% to More Than 1.1km

Drilling was undertaken to follow up on hole CL-75, a 400m stepout east of the eastern limit and along strike of the GMZ, which returned 9.4 g/t Au over 0.5m that hosted visible gold (VG). The intervening 400m is the continuation of the same soil anomaly that originally led to the discovery of the GMZ in December 2017, and had not yet been drilled. At about midway between the previous eastern limit of the GMZ and the 9.4/0.5m intersect, hole CL-109 returned 1.7 g/t Au over 10.0m in a massive quartz vein. With these two intersects, the GMZ has been expanded by 50% to more than 1.1km from 765m.

Adrian Zone: Extended 49m SE with Visible Gold, Plus Continues to Return Other Strong Intersects

At the Adrian Zone, follow-up drilling was undertaken on the previously-reported intersection in hole CL-92 that returned 22.7 g/t Au over 3.5m , including 98.7 g/t Au over 0.5m . Follow-up hole CL-103 intersected 5.7 g/t Au over 25.0m , including 20.5 g/t Au over 5.95m , located 61m NW of the VG intersected in hole 116, and 16.4m west of the intersection in hole 92. The VG in hole CL-116 is hosted in 10.5 metres of 50% smoky quartz veining with 3-5% sulphides, located 49m SE of the previous edge of the Adrian Zone and 75m SE of the new intersection in hole 103. These intersections in holes 92, 103 and 116 are all near the same elevation and it is thought that, like the rest of Adrian, this could represent a folded, locally, flat-dipping vein. Hole 116 represents the furthest mineralization to the east intersected to date in the Adrian Zone - none of the new zones, which cover a strike length of 3.1km, are yet in resource. Hole 116 also represents an eastern extension along strike to the Adrian Zone, which is now 462m long, up from 450m previously.

Adrian - Expanding to the SE and at Depth

Hole CL-103 intersected 5.7 g/t Au over 25.0m , including 20.5 g/t Au over 5.95m , and the VG in hole CL-116 is hosted in 10.5m of 50% smoky quartz veining with 3-5% sulphides, located 75m SE of the intersect in hole 103. These, and the intersect in hole 92, which returned 22.7 g/t Au over 3.5m , including 98.7 g/t Au over 0.5m at 301m below surface (this hole also intersected 24.6 g/t Au over 3.0m including 67.0 g/t Au over 1.0m at 80.5m below surface), are all near the same elevation and it is thought that, like the rest of Adrian, this could represent a folded, locally, flat-dipping vein. Hole 116 represents a 49m extension of the Adrian Zone to the SE, which is now 462m long. This intersection, and the other 2 (holes 103 and 92) are the deepest intersections in the Adrian Zone.

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.

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

Email: info@galwaymetalsinc.com

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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