Galway Metals Commences Updated Mineral Resource Estimate at Clarence Stream Gold Project
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
1
NEWS RELEASE
Galway Metals Commences Updated Mineral Resource Estimate at
Clarence Stream Gold Project
(Toronto, Ontario, February 05, 2026) - Galway Metals Inc. (TSX-V: GWM); OTCQB: GAYMF) (the
"Company" or “Galway”) is pleased to announce that it has commenced work on an updated National
Instrument 43-101 compliant Mineral Resource Estimate (“MRE”) for its 100%-owned Clarence Stream
Gold Project, located in southwest New Brunswick, Canada. The Clarence Stream Gold Project
currently hosts a 2022 MRE of 12.4 Mt @ 2.3 g/t Au Indicated for 922,000 oz., and 16.0 Mt @ 2.6 g/t
Au Inferred for 1.334 M oz. gold from the NI 43 -101 technical report titled “ Technical Report on the
Clarence Stream Mineral Resource Project, New Brunswick, Canada ” dated March 31, 2022, by SLR
Consulting Ltd. The 2022 mineral resource estimate was prepared using a gold price of US$1,650 per
ounce, and the current update is being undertaken in a materially higher gold price environment.
Rob Hinchcliffe, President and CEO of Galway stated “Commencing an updated mineral resource
estimate is an important step in advancing Clarence Stream. The project has benefited from substantial
drilling since our last resource, and this update will provide a current and comprehensive view of the
deposit. In the context of a higher gold price environment, an updated resource will be an important
foundation as we continue to assess the project’s technical and economic potential, with completion of
the updated mineral resource estimate expected by the end of the second quarter of 2026.”
The updated MRE will incorporate results from drilling completed since the Company’s previous mineral
resource estimate, which was disclosed in a NI 43 -101 technical report dated March 31, 2022. Since
that time, Galway has completed 342 diamond drill holes totaling 69,556 metres of drilling at
Clarence Stream. This drilling has been primarily focused on resource expansion and infill at the
Southwest and North Deposits, as well as continued exploration drilling along the broader Clarence
Stream trend.
The updated mineral resource estimate is expected to reflect the impact of additional drilling, refined
geological interpretation, updated grade estimation, and revised pit -constrained assumptions, where
applicable. Galway has engaged SLR Consulting Ltd., an independent qualified consultant, to prepare
the updated mineral resource estimate in accordance with National Instrument 43-101 guidelines.
The Company expects to complete and disclose the updated MRE following completion of the required
data verification, geological modeling, and independent review processes. Galway will provide further
updates as work on the mineral resource estimate progresses.
Geology and Mineralization
The Clarence Stream deposits can be characterized as intrusion-related, structurally controlled, quartz-
vein hosted gold deposits. These deposits consist of quartz veins and quartz stockwork within brittle-
ductile fault zones that include adjacent crushed, altered wall rocks and veinlet material. The
mineralized systems are hosted in intrusive and metasedimentary rocks within high strain zones
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
2
controlled by regional fault systems. Pyrite, base metal sulphides, and stibnite occur in these deposits
along with anomalous concentrations of bismuth, arsenic, antimony and tungsten. Alteration in the host
rocks is confined within a few metres of quartz veins and occurs mainly in the form of sericitization and
chloritization. A more complete description of Clarence Stream’s geology and mineralization can be
found at www.galwaymetalsinc.com.
Review by Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved
by Jesse Fisher, P.Geo., Project Manager for Clarence Stream and a Qualified Person as defined by
National Instrument 43-101. Mr. Fisher certifies that this news release fairly and accurately reflects the
technical information and data presented. Galway Metals conducts its exploration activities in
accordance with CIM Best Practices Guidelines.
Quality Control and Reports
All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41
Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road,
Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or
Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All
core is under watch from the drill site to the core processing facility. Drill core is NQ size and sample
intervals range from 0.5 meters to 1.5 meters in length. All samples are assayed for gold by Fire Assay,
with gravimetric finish, and other elements assayed using ICP. The Company's QA/QC program
includes the regular insertion of blanks and standards into the sample shipments, as well as instructions
for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately
five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results
averaged and intersections updated when received. Core recovery in the mineralized zones has
averaged 99%.
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 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: [email protected]
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
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
3
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” 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
industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company,
including but not limited to the effects of COVID-19 on the price of commodities, capital market
conditions, restrictions on labour and international travel and supply chains, and those risks set out in
the Company’s public documents filed on SEDAR. 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.