GALWAY METALS INC - GAYMF STOCK NEWS

Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) provides a corporate update for 2024, focusing on advancing its Canadian gold assets amid rising gold prices. Key points include:

1. Two drill rigs running at Clarence Stream gold project, with 44 drillholes pending assay results.

2. Updated NI 43-101 Mineral Resource Estimate for Estrades project expected in early Q4 2024.

3. Metallurgical testing programs underway for both Clarence Stream and Estrades projects.

4. Promotions and new appointments to strengthen the management team and board of directors.

5. CEO Robert Hinchcliffe has purchased over 700,000 shares in 2024, now owning approximately 9% of the company.

Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) has initiated a NI 43-101 Mineral Resource Estimate and metallurgical test program at its Estrades property in Quebec. The company aims to update the resource estimate for the precious metal-rich VMS deposit, which was previously mined in 1990-1991. The new estimate will incorporate 42,099 meters of drilling completed since 2018 and reflect current metal prices, including a 38% increase in gold prices.

Galway has engaged SLR Consulting for the resource estimate and Base Metal Laboratories for metallurgical testing. The study will focus on improving recoveries of Cu, Pb, Zn, Au, and Ag, while minimizing capital and operating costs. Results are expected in the fourth quarter. The company believes the project's economics have improved, primarily due to rising gold prices.

Galway Metals reported positive results from its diamond drilling program at the Clarence Stream high-grade gold project in New Brunswick, Canada.

Highlights include:

Hole CL-179: 19.5 g/t gold over 4.2 meters, including 45.9 g/t gold over 1.2 meters.

Hole CL-190: 2.7 g/t gold over 4.5 meters, including 13.8 g/t gold over 0.5 meters.

Hole CL-186: 1.4 g/t gold over 12.9 meters.

Nine additional follow-up drill holes are pending assays.

The company is mobilizing a second rig to target high-grade mineralization at the South Deposit.

Financial support was provided by the New Brunswick Junior Mining Assistance Program.

Galway Metals Inc. announces a non-brokered private placement to raise up to $4,500,000 through charity flow-through units and flow-through units. The Offering includes warrants for common shares with an exercise price of $0.60 per share for a 2-year period. The proceeds will be used for Canadian exploration expenses, with a closing anticipated by the end of the year.

Galway Metals Inc. announces additional metallurgical and process studies for Clarence Stream gold project. The Company aims to advance process flowsheet definition and gold recovery with the support of industry veteran Steve Haggarty. Metallurgical test work will be conducted throughout 2024 at McClelland Labs in Nevada.

Galway Metals Inc. announces positive assay results from its diamond drilling program at the Southwest Deposit in Clarence Stream gold project. The company's management sees district-scale potential with expansion opportunities in all directions.

Galway Metals Inc. appoints Peter Gula as Director, bringing 35 years of mining industry experience. Gula's background includes key roles in mine management, production, and project leadership. His appointment aims to enhance Galway's Board with technical expertise and industry connections.

Galway Metals Inc. announces the promotion of two geologists, Jesse Fisher and Rob Richard, and the addition of two experienced industry professionals, Phillip Walford and Allan Moran, to its technical team. The Company's flagship Clarence Stream gold project has a district scale strike length of 65 kilometres, is open in all directions, and remains largely unexplored, with excellent infrastructure in the mining-friendly province of New Brunswick, Canada.

Galway Metals Inc. announces positive drilling results at the Oak Bay property, part of the Clarence Stream Gold Project, showcasing the potential for a multi-million-ounce gold district. The winter 2024 drill program aims to increase the current pit resource and target new discoveries, focusing on two exploration targets with high gold potential. The company also provides detailed geological and mineralization information for Oak Bay and Clarence Stream, emphasizing the potential for significant gold deposits. The press release highlights the extensive drilling program and the positive impact on the company's gold resource.