Galore Announces Implementation of a Shares FOR Services Arrangement ON Its Drill Contract and Closing ON a First Tranche of Its Private Placement

| 19141 Stone Oak Parkway - #104, San Antonio, Texas, 78258 USA |

| PH: (210) 860-9212 | Fax: (604) 648-8894 | [email protected] |

FOR IMMEDIATE RELEASE October 17, 2019

GALORE ANNOUNCES IMPLEMENTATION OF A SHARES FOR SERVICES ARRANGEMENT ON

ITS DRILL CONTRACT AND CLOSING ON A FIRST TRANCHE OF ITS PRIVATE PLACEMENT

Vancouver, BC: Galore Resources Inc. (TSX -V: GRI) (the “Company ”) announced the

completion of 1667.2 meters of core drilling at it’s 100% owned El Alamo claim . Results from the

balance of the drill holes are still at the lab pending release. According to Galore's geologists and as

reported in Galore's September news release, the drill results to date indicate a lower and much

larger zone of mineralization associated with brecciated limestone , interpreted to represent a large

structure dipping to the south. For this reason Galore has decided to cease drilling in orde r to map

and sample this trend at the base of El Alamo hill and redesign the drill program. We look forward

to resuming drilling very soon.

Shares for Services Agreement

Further to Galore’s news release dated May 27, 2019, wherein the Company announced a drill

contract with COMEFIN S DE RL DE CV (“Comefins”) to conduct the diamond core drilling

programs at Galore’s 100% owned El Alamo and Los Gemelos projects , the parties had further

agreed to enter into a shares for services arrangement relating to the drill programs wherein

payment for Comefins’ services will be made by a combination of cash and shares. As of the date

of this release, the Company incurred a total payable in shares to Comefins of US $68,920.53, using

the conversion rate of $1 USD = $1.3204 CAD, or CDN $91,002.67. The parties have agreed to the

issuance of 1,820,053 common shares at a deemed price of CDN$0.0 5 per share , subject to

regulatory approval. The shares will be subject to a 4-month hold period from the date of issuance.

The shares for services arrangement has been made in order to preserve cash committed to project

development and working capital.

Private Placement – Tranche 1 Closing

The Company also announces it has closed a first tranche of its unit private placement , originally

announced June 24 and as updated August 13 and September 18, 2019 . In this first tranche the

Company issued 3,743,629 units at a price of $0.05 per unit for gross proceeds of C DN

$187,181.46. Each Unit consists of one common share in the capital of the Company and one share

purchase warrant exercisable into one common share at a price of $0. 10 per share for a period of

two years from the date of closing of the financing, subject to acceleration provisions , such that if

the closing price equals or exceeds CDN$0.15 per share for 10 consecutive trading days the

Company may provide notice to the warrant holders that the exercise period of the warrants shall be

reduced to 30 days commencing seven calendar days following the tenth consecutive trading day.

Applicable securities laws require that the securities issued pursua nt to the private placement are

subject to a hold period that expires January 17, 2020.

[2]

About Galore Resources

Galore Resources is a mineral exploration and development company who se focus is to make and

develop significant mineral discoveries, which are supported by a sustainable business model. Our

goal is to discover a world -class gold and silver deposit in Mexico. Our flagship project is in the

heart of the Concepcion del Oro Mining District, the Dos Santos Project. This project covers two

historic gold zones and has the potential to host bulk tonnage gold -silver deposits based on past

drilling, trenching, and a recent airborne geophysical survey.

ON BEHALF OF THE BOARD

“Michael McMillan”

President and CEO

To find out more about Galore Resources (TSX.V:GRI) please contact:

Mike McMillan at (210) 860-9212 (USA)

Please visit our website at www.galoreresources.com or contact us at [email protected].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture

Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The

securities have not been and will not be registered under the United States Secur ities Act of 1933, as amended (the “U.S. Securities

Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless register ed under

the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.