Galway Metals Advances Estrades Project as BBA E&C Inc. Transitions Internal Scoping Study to PEA

Rhea-AI Summary

Galway Metals (OTCQB:GAYMF) has announced the initiation of a Preliminary Economic Assessment (PEA) for its 100% owned Estrades Polymetallic VMS project in Quebec, Canada. The company has engaged BBA E&C Inc. to conduct the PEA, expected to be completed in Q4 2025.

The project contains significant resources including 1.75M tonnes of indicated resources grading 2.86 g/t Au, 5.76% Zn, 0.97% Cu, 94.4 g/t Ag, and 0.48% Pb, plus 2.68M tonnes of inferred resources at 1.81 g/t Au, 4.75% Zn, 0.86% Cu, 77.4 g/t Ag, and 0.28% Pb. The project, previously mined in 1990-91, saw CAD$20 million in historical development by Breakwater Resources Ltd.

Positive

• High-grade gold and zinc deposit with significant precious and base metal content
• Recent metallurgical recovery improvements enhance project economics
• Gold as primary revenue driver benefits from record prices
• Strategic plan to seek third-party capital to minimize shareholder dilution

Negative

• Project is secondary to company's flagship Clarence Stream project
• Previous mining operations were short-lived (1990-91)

TORONTO, ON / ACCESS Newswire / July 17, 2025 / Galway Metals Inc. (TSX-V:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to announce the commencement of a Preliminary Economic Assessment (the "PEA") at Galway's Estrades Polymetallic VMS project (the "Project") located in the northern Abitibi of Western Québec, Canada. The 100% owned Estrades project, is a high-grade gold and zinc deposit. Historically, Breakwater Resources Ltd, spent CAD$20 million developing the precious metal rich VMS deposit which was previously mined via a 200-metre-deep ramp with production in 1990-91.

Rob Hinchcliffe, President and CEO of Galway, said, "Galway has re-engaged BBA E&C Inc., who previously completed an internal scoping study on Estrades to move forward with a PEA and finalize the report for the fourth quarter 2025. The primary metal that will make up the bulk of the economics for this project is gold, which has been continuing to reach new record prices". He continues, "A positive PEA will help Galway's efforts to move the Estrades project forward as we look to bring a third-party capital to minimize dilution for existing share holders. Clarence Stream remains Galway's Flagship gold project with two drill rigs currently turning."

High Grade Gold and Zinc Deposit

The Preliminary Economic Assessment, which will be completed by BBA E&C Inc. will incorporate the recent metallurgical recovery improvements and the 2024 MRE of 1,750,000 tonnes of 2.86 g/t Au, 5.76% Zn, 0.97% Cu, 94.4 g/t Ag and 0.48% Pb indicated, and 2,680,000 tonnes of 1.81 g/t Au, 4.75% Zn, 0.86% Cu, 77.4 g/t Ag and 0.28% Pb inferred resource from the NI 43-101 technical report titled "Technical Report Estrades Project, Quebec, Canada" dated November 5, 2024, by SLR Consulting Ltd.

Metallurgical Progress and New Resource Estimate

For information related to recent metallurgical improvements and the highlights of the new Mineral Resource Estimate, please see the press release titled "Dramatic Increase in Gold Recovery Significantly Improved the Business Options for Past-Producing High-Grade Gold Zinc Estrades Mine - Scoping Study to be Initiated" dated Jan 27, 2025.

Reviewed by Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Kamil Khobzi, P.Eng., a Qualified Person as defined by National Instrument 43-101 and certifies that this news release fairly and accurately reflects the technical information and data presented. Mr. Kamil Khobzi is independent of the Company and is a Professional Engineer registered in Quebec.

About Galway Metals Inc.

Galway Metals is a Canadian mineral exploration and development company focused on advancing its 100%-owned, high-grade, open-pit flagship Clarence Stream gold project in southwest New Brunswick. Clarence Stream is an emerging gold district with an exploration strike length of approximately 65 kilometres, and the existing resource is open in virtually all directions. Galway Metals also has 100%-ownership in the Estrades project, a former producing high-grade, gold-rich polymetallic VMS mine in the northern Abitibi of western Quebec. Led by a management team with a proven track-record of creating shareholder value having sold Galway Resources for US$340 million, Galway Metals is focused on creating value for all its stakeholders.

For additional Information on Galway Metals Inc., Please contact:

Robert Hinchcliffe President & Chief Executive Officer
Telephone: 1-800-771-0680
Email: info@galwaymetalsinc.com
Website: www.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 Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This News Release includes certain "forward-looking statements" and "forward-looking information" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information 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, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors.

Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development, and those risks set out in the Company's public documents filed on SEDAR+ at sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, 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, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Galway Metals Inc.

View the original press release on ACCESS Newswire

FAQ

What are the resource estimates for Galway Metals' Estrades project (GAYMF)?

The project contains 1.75M tonnes of indicated resources at 2.86 g/t Au, 5.76% Zn, 0.97% Cu, 94.4 g/t Ag, and 0.48% Pb, plus 2.68M tonnes of inferred resources at 1.81 g/t Au, 4.75% Zn, 0.86% Cu, 77.4 g/t Ag, and 0.28% Pb.

When will Galway Metals (GAYMF) complete the Preliminary Economic Assessment for Estrades?

The PEA is expected to be completed in the fourth quarter of 2025.

What is the ownership structure of the Estrades project?

The Estrades project is 100% owned by Galway Metals and is located in the northern Abitibi of Western Québec, Canada.

What is the historical development of the Estrades project?

Breakwater Resources Ltd. previously invested CAD$20 million in development, including a 200-metre-deep ramp, with production occurring in 1990-91.

How does Galway Metals plan to finance the Estrades project development?

Galway plans to seek third-party capital to minimize dilution for existing shareholders.