Galway Metals - GAYMF STOCK NEWS

Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) announced key updates regarding personnel and ongoing projects. Allan Moran joins as a technical advisor, while Larry Strauss resigns as VP of Corporate Development but remains a Director. The company is finalizing a $4 million financing to resume exploration, including drilling. Metallurgical test work is underway for both the Clarence Stream and Estrades projects. In Clarence Stream, cyanidation testing will assess gold extraction potential. Meanwhile, the Estrades Project aims to enhance recovery through new technologies and ore sorting, which could reduce costs and environmental impact. Galway Metals is committed to sustainable development and maximizing shareholder value through its 100%-owned Canadian projects.

Galway Metals Inc. (TSXV:GWM; OTCQB:GAYMF) announced the adoption of an amended equity incentive plan at its Annual General and Special Meeting held on December 14, 2022. This plan reserves 20,154,942 shares for issuance, now adjusted to 6,718,312 shares following a share consolidation effective January 25, 2023. The amendment ensures compliance with the TSX Venture Exchange's Policy 4.4 Security Based Compensation. Galway is committed to exploring and developing its gold projects in Canada, specifically the Clarence Stream and Estrades projects, while also maintaining environmental and community standards.

Galway Metals Inc. (OTCQB:GAYMF) reported promising drill results from its Clarence Stream Gold Project in New Brunswick, revealing gold mineralization outside existing resource boundaries. The recent results, coming from the North Zone, highlight drill holes with impressive grades, including 18.0 g/t Au over 0.5m and 12.4 g/t Au over 1.5m. The total indicated and inferred resource currently stands at 2.25Moz with an average grade of 2.3 g/t Au. The findings suggest significant expansion potential across various zones, indicating that Clarence Stream could be among Eastern Canada's pivotal gold districts.

Galway Metals Inc. (OTCQB:GAYMF) has received final approval from the TSX Venture Exchange to consolidate its shares at a rate of one post-consolidation share for every three pre-consolidation shares. This consolidation will reduce the number of outstanding shares from approximately 201.5 million to about 67.2 million and will take effect on January 27, 2023. No fractional shares will be issued; any fractions will be rounded down. The company's focus remains on exploring its two 100%-owned projects in Canada, aiming to enhance per share value while respecting environmental standards.

Galway Metals (OTCQB:GAYMF) has announced a temporary suspension of drilling at its Clarence Stream gold project due to challenging market conditions. This decision aims to conserve capital while the company reevaluates recent findings, especially related to the Mineral Resource Update from April 2022. As of the end of Q3 2022, Galway reported a robust balance sheet with $7.7 million in cash. Key high-priority targets remain for future exploration, including the Triangle Area and several notable soil anomalies.

Galway Metals has announced promising drill results from its ongoing program at the Clarence Stream project, specifically expanding mineralization in the Triangle Area north of the SW Deposit. This area may provide additional shallow resources, further enhancing one of Canada’s largest high-grade gold projects. Galway has drilled 170,000 meters since 2016, discovering new zones and potentially linking existing ones. The resource estimate as of April 2022 includes 886,000 ounces indicated at 2.27 g/t Au and 731,000 ounces inferred at 1.93 g/t Au, emphasizing significant expansion opportunities.

Galway Metals Inc. (TSXV:GWM) announces a $125,000 cash payment and the issuance of 925,926 common shares valued at $0.405 per share, totaling $375,000, as the Third Partial Payment for a previously agreed royalty buyback.

The deal, initiated in July 2020, aims to eliminate a 2.0% net smelter returns royalty from the Clarence Stream property. The overall purchase price is set at $3,000,000 in six annual installments.

Galway Metals (OTCQB:GAYMF) announced insider purchases of its common shares, with CEO Robert Hinchcliffe acquiring 350,000 shares this quarter, totaling 1,074,500 shares over the past year. VP Michael Sutton purchased 245,000 shares recently, while Director Joseph Cartafalsa acquired 48,250 shares this quarter. Hinchcliffe now holds 15,642,740 shares (7.8% of outstanding shares). Galway Metals is well-capitalized with two significant projects in Canada, aiming to leverage these acquisitions for future growth.

Galway Metals Inc. has announced an increase in its bought deal private placement financing, now totaling $10 million. The offering includes 6,666,700 flow-through shares at $0.60 each and 14,117,700 common shares at $0.425 each. Additionally, underwriters have the option to increase the offering by 1,176,500 shares. The proceeds will be allocated to exploration and technical studies. The offering is subject to regulatory approval, with a planned closing date of May 26, 2022.