Galway Metals Commences 5,000-Metre Drill Program at Estrades Funded by DOWA
82 Richmond Street East Tel: 800-771-0680
Toronto, ON M5C 1P1 Fax: 416-361-0923
Galway Metals Commences 5,000-Metre Drill Program at Estrades Funded by
DOWA
(Toronto, Ontario, July 23, 2026) – - Galway Metals Inc. (TSX-V: GWM; OTCQB: GAYMF) (the
“Company” or “Galway”) is pleased to announce that two diamond drills have been mobilized and
drilling has commenced at the Estrades Project in the northern Abitibi region of western Québec.
The approximately 5,000-metre program forms part of the Phase I work program under the Option
and Joint Venture Term Sheet with DOWA METALS & MINING CO., LTD. (“DOWA”), announced
in January 2026. The Estrades Project is a high -grade, gold- and zinc-rich volcanic mass ive
sulphide (VMS) deposit. Historically, Breakwater Resources Ltd. invested approximately CAD$20
million developing the precious-metal-rich deposit, which was previously mined via a 200-metre-
deep ramp with production in 1990 -1991. Galway released a positive Preliminary Economic
Assessment on the Estrades Project earlier this year.
“We have just finished the 3rd drill hole of this campaign, and we are very optimistic about Estrades’
prospects moving forward. This program is an important first field step under our agreement with
DOWA. The drilling is designed to provide representative material for the next phase of metallurgical
work while adding useful geological information across the Main, Central and East zones. Together,
this work will help us continue evaluating the develop ment pathways identified in the recent PEA, ”
cites Robert Hinchcliffe, President & CEO of Galway Metals, adding “ We are very pleased to partner
with one of the world’s most respected integrated mining and metals companies. DOWA brings deep
expertise in zinc concentrate processing, technical evaluation, and project development. Their
commitment to funding up to US$25 mi llion validates the quality and potential of Estrades and we
look forward to working collaboratively to advance the project toward a production decision.”
Estrades Past Producer
The Estrades Project is a series of gold, zinc, copper, lead, and silver -rich massive sulphide
lenses and is located about 95 km north -northeast of La Sarre, Québec. Breakwater Resources
mined the Estrades deposit between July 1990 and May 1991. Breakwater used a decline to the
190-meter level and then they developed a network of ramp-connected levels. The Estrades ore
was shipped and then processed at the Matagami Mill ~135 kilometers away. The Estrades
deposit is presently envisioned as an underground mining operation, with additional regional and
local exploration prospects also worth noting.
2026 Drill Program and Metallurgical Testwork
The current program is focused on obtaining fresh mineralized material suitable for metallurgical
testwork. Drill holes are planned across the Main, Central and East zones to provide samples
representative of the principal mineralization styles and grade ranges at Estrades. SGS Canada
will conduct the planned testwork at its Burnaby facility. Results will be incorporated into Galway
and DOWA’s ongoing evaluation of the Project.
Galway has completed 52,281 metres of drilling at Estrades since acquiring the Project in 2016.
The additional drilling from the current program is expected to improve local geological confidence
and provide information that may support future resource, engineering and development studies.
Recommendations and Project Optimization
Galway Metals is encouraged by the results of the Estrades PEA and looks forward to advancing
the project towards a viable, cash-flow generating mining operation.
A few of the initiatives as we move forward will include:
• An Environmental Baseline study is expected to begin in the second quarter of 2026, and
continued work on our community outreach program.
• Work will continue towards upgrading the Mineral Resource through drilling at depth and
by testing the lateral extent of the deposit.
• Metallurgical studies will continue with the goal of increasing metal recoveries.
Estrades 2026 Drill Program - Site Photo
Figure 1. Galway and contractor personnel at an Estrades drill site.
Additional Estrades Site Photos
Figure 2. Diamond drill operating at the Estrades Project.
Figure 3. Core logging facility at Estrades.
Review by Qualified Person
Stephen Poitras, P .Geo., Project Manager for Galway Metals, is the Qualified Person who supervised
the preparation of the scientific and technical disclosure in this news release on behalf of Galway
Metals.
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing
its 100%-owned, high-grade, open-pitable 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 widths of up to 28 kilometres in certain areas. Galway Metals holds
a 90% p articipating interest in the Estrades Project, a former producing high -grade, gold -rich
polymetallic VMS mine in the northern Abitibi of western Québec. DOWA METALS & MINING CO.,
LTD. (“DOWA”) holds a 10% participating interest pursuant to the previously announced Option and
Joint Venture Term Sheet under which DOWA may earn up to a 45% interest in the Project. 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, please contact:
Robert Hinchcliffe, President & Chief Executive Officer
Telephone: 1-800-771-0680
Email: [email protected]
Website: www.galwaymetalsinc.com
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markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying signifi cantly from
estimates and the other risks involved in the mineral exploration and development, and those risks set out in the Company’s public documents
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