Galway Metals Discovers 3 New Veins in Gap: 19.5 g/t Au over 4.0m, 75.9 g/t Au over 1.1m and 10.0 g/t Au over 3.0m, plus Intersects Known Veins with 3.5 g/t Au over 40.0m and 9.5 g/t Au over 6.5m
Galway Metals Discovers 3 New Veins in Gap: 19.5 g/t Au over 4.0m, 75.9 g/t Au over 1.1m and 10.0 g/t
Au over 3.0m, plus Intersects Known Veins with 3.5 g/t Au over 40.0m and 9.5 g/t Au over 6.5m
(Toronto, Ontario, January 25, 2021) - Galway Metals Inc. (TSX -V: GWM) (the "Company" or “Galway”) is pleased to
report full and partial assay results from 8 new holes plus results from 2 holes that had some assays pending in the 650
metre gap between the Richard and George Murphy Zones (GMZ) at the Company’s Clarence Stream project in southwest
New Brunswick, Canada (Figure 1 and Figure 2). The latest res ults are highlighted by likely extensions to the east of
previously identified veins and new veins to the north, which are denoted as (new 1, 2 or 3):
• Hole 128 had pending assays added to the previously-released results with the full intersect now returning 3.5 grams
per tonne (g/t) Au over 40.0 metres (m), including the previously-released 5.3 g/t Au over 25.5m, which includes
54.6 g/t Au over 0.5 m, 20.9 g/t Au over 2.5 m, and 13.7 g/t Au over 2.4m, starting at a vertical depth of 190m
below surface. It is 92m below hole 125, but is now interpreted to be a different vein. Hole 125 intersected 17.0 g/t
Au over 5.5m, including 163.0 g/t Au over 0.5 m with VG. Hole 128 intersected three additional veins: 17.9 g/t
Au over 2.0m (new 2), including 33.4 g/t Au over 0.5m , plus 1.1 g/t Au over 8.4m (new 1), plus previously
reported 0.5 g/t Au over 13.0m, starting at vertical depths of 375m, 281m and 63m, respectively.
• Hole 133 intersected three veins: 9.5 g/t Au over 6.5m, including 27.2 g/t Au over 1.0m, plus 2.2 g/t Au over
15.5m, including 30.2 g/t Au over 0.7m, plus 10.0 g/t Au over 3.0m (new 2), including 18.7 g/t Au over 1.0m,
starting at vertical depths of 148m, 172m, and 319m, respectively. The 3.5 g/t Au over 40.0 m from hole 128 is
thought to be the same zone as the 9.5 g/t Au over 6.5m, and 2.2 g/t Au over 15.5m, with 72m and 47m between
them. Assays are pending for 17.0m of the 18.5m interval between the 9.5 g/t Au over 6.5m and 2.2 g/t Au over
15.5m intersects.
• Hole 130 intersected four veins: 75.9 g/t Au over 1.1m (new 2), plus 1.3 g/t Au over 25.0m (new 3) (included to
show the scope of mineralization in this new vein; used the 0.42 lower cut-off for pit-constrained mineralization
but the depth likely precludes its inclusion in a pit), including 18.5 g/t Au over 0.65m, plus shallower intersects
returning 0.6 g/t Au over 30.0m, including 5.3 g/t Au over 1.0m, plus 0.5 g/t Au over 17.0m, including 1.6 g/t
Au over 1.0m, starting at vertical depths of 420m, 472m, 71m, and 137m, respectively. If the intersections are
dipping south similar to the Richard vein interpretations, then the 10.0 g/t Au over 3.0m from hole 133 is thought
to be a new vein and the same as the 75.9 g/t Au over 1.1m from hole 130, and the 17.9 g/t Au over 2.0m from
hole 128. With these intersects, this vein has now been drilled over 174m along strike and remains open, as are all
veins discussed herein. These new veins are close to the intrusive that is thought to control mineralization. The
intersect hosing 18.5 g/t Au over 0.65m starting at 472m below surface is the deepest in any of the 4 Zones not in
resource at Clarence Stream, including the Adrian, GMZ, Richard and Jubilee Zones. The South Zone has been
intersected below 500m.
• Hole 136 intersected 19.5 g/t Au over 4.0 m (new 1), including 51.6 g/t Au over 1.0 m, with the rest of the hole
pending, starting at a vertical depth of 273m below surface. This is thought to be another new vein that lines up
with the 1.1 g/t Au over 8.4m in hole 128.
Robert Hinchcliffe, President and CEO of Galway Metals, said, “The new veins contain some nice high grades. We’ll
expand out from them , and follow-up other high-priority targets to increase the upcoming resource. There are simply so
many obvious potential extensions to known and recently discovered veins that the Company has decided to push out the
resource update by a few months. To expedite this effort, Galway recently added one drill rig at Clarence Stream to bring
the total to 6, and will add a 7th in February as we continue our fully-funded, 100,000m drill program to be completed by
year-end. Galway’s aim is to not on ly expand the existing zones, but to also continue making new discoveries to further
demonstrate that Clarence Stream is an important new gold district in North America.”
There now appears to b e 6 vein zones present in the area of the current drilling, with 3 inter preted to correlate with the
previously identified Richard Zone horizons ; the other three a ppear to be new. The 3.5 g/t Au over 40.0 m in hole 128
appears to line up best, and is 232m east of the northern-most vein that Galway intersected at the time of the discovery of
the Richard Zone, which returned 5.4 g/t Au over 11.0m. The 3.5 g/t Au over 40.0m is also located 262m NE of the previous
82 Richmond Street East Tel: 800-771-0680
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eastern Richard limit defined by the discovery hole intersection that returned 7.3 g/t Au over 36.7m . Galway is continuing
to fill in the 650m gap between the Richard Zone and the GMZ. All veins appear to be sub -parallel to the granite to the
north and mimics its dip at ~60 -65 degrees . Assays have been returned for 5 additional holes to the east of, plus one
drilled south of the highlight holes noted above , with intersections ranging up to 7. 5 g/t Au over 1.05m, 0.6 g/t Au over
10.0m, and 0.5 g/t Au over 10.0m. In general, the better results to date are from steeper holes.
Table 1. Assay Results
Hole ID From
(m)
To
(m)
Intercept
(m)
Au
g/t
GWM-20BL-136 61.00 291.00 pending
291.00 295.00 4.00 19.5
including 294.00 295.00 1.00 51.5
303.00 321.00 pending
324.00 446.00 pending
GWM-20BL-133 56.00 136.00 pending
137.00 138.00 1.00 1.3
139.00 140.00 1.00 0.6
150.50 157.00 6.50 9.5
including 153.00 154.00 1.00 27.2
157.00 174.00 pending
175.50 191.00 15.50 2.2
including 175.50 176.20 0.70 30.2
203.00 204.50 1.50 0.5
260.00 284.00 pending
328.00 331.00 3.00 10.0
including 330.00 331.00 1.00 18.7
337.00 353.00 pending
GWM-20BL-130 72.00 102.00 30.00 0.6
including 73.00 74.00 1.00 5.3
95.50 97.00 1.50 1.3
113.50 114.50 1.00 0.7
117.00 118.00 1.00 0.4
132.00 149.00 17.00 0.5
including 132.00 133.00 1.00 1.4
including 141.00 142.00 1.00 1.6
149.00 225.00 pending
237.90 378.60 pending
383.00 384.50 1.50 1.0 *
388.00 388.50 0.50 1.1 *
430.00 431.00 1.10 75.9
433.00 435.00 2.00 1.7 *
476.00 501.00 25.00 1.3 *
including 479.00 479.65 0.65 18.5
including 497.80 498.30 0.50 4.4
GWM-20BL-128 64.00 77.00 13.00 0.5 **
including 64.00 65.00 1.00 1.9 **
89.50 91.00 1.50 0.6
128.00 129.00 1.00 1.6
193.50 233.50 40.0 3.5 VG
including 208.00 233.50 25.50 5.3 VG **
including 214.40 214.90 0.50 54.6 **
including 220.90 221.50 0.60 8.3
including 224.10 226.50 2.40 13.7
including 231.00 233.50 2.50 20.9 **
288.00 296.40 8.40 1.1
including 295.00 296.40 1.40 2.4
299.00 299.60 0.60 1.0
357.00 359.00 2.00 17.9
including 358.00 358.50 0.50 33.4
494.00 494.60 0.60 0.5 *
GWM-20BL-126 59.00 69.00 10.00 0.6
Hole ID From
(m)
To
(m)
Intercept
(m)
Au
g/t
133.00 134.00 1.00 1.2
267.50 269.00 1.50 1.5
GWM-20BL-125 60.00 61.00 1.00 0.7 **
64.00 67.15 3.15 0.44 **
135.00 135.50 0.50 0.6
137.00 141.00 4.00 0.5
145.00 146.00 1.00 1.0
150.00 155.50 5.50 17.0 **
including 154.00 154.50 0.50 10.8 **
including 154.50 155.00 0.50 163.0 VG **
160.00 162.00 2.00 0.6
296.00 298.00 1.50 1.8
340.00 350.00 10.00 0.5
GWM-20BL-123 233.00 238.00 5.00 0.7
302.00 303.00 1.00 0.4
304.00 304.50 0.50 0.7
GWM-20BL-121 35.00 36.60 1.60 1.3
65.00 67.00 2.00 0.6
70.00 71.00 1.00 0.8
130.50 133.50 3.00 0.7
GWM-20BL-119 43.00 44.00 1.00 0.4
46.00 47.00 1.00 0.6
67.50 70.00 2.50 0.6
76.00 79.00 3.00 0.8
82.00 83.50 1.50 0.5
108.95 110.00 1.05 7.5
155.00 240.00 pending
301.00 314.00 pending
GWM-20BL-117 66.00 67.00 1.00 2.4
90.90 92.00 1.10 0.5
121.00 124.10 3.10 1.0
including 122.00 122.50 0.50 2.4
142.00 143.50 1.50 1.7
189.00 190.00 1.00 0.8
** previously reported ; * intersection used 0.42 g/t Au for the bottom cut -off as per pit constrained resource s but is at
likely too much depth . Shown to indicate scope of mineralization; (TW=True Widths, which are calculated – sectional
measuring may give slightly different numbers); True widths are unknown if not noted; VG=Visible Gold; 0.42 g/t Au
was used for the bottom cut -off.
Table 2: Drill Hole Coordinates
Hole ID Azimuth Dip Easting Northing Total Depth
(m) Zone
GWM20BL-117 315 -45 653716 5021771 303 Richard-GMZ Trend
GWM20BL-119 315 -60 653716 5021771 366 Richard-GMZ Trend
GWM20BL-121 315 -45 653765 5021806 327 Richard-GMZ Trend
GWM20BL-123 315 -45 653797 5021875 324 Richard-GMZ Trend
GWM20BL-125 140 -57 653619 5021817 370.5 Richard-GMZ Trend
GWM20BL-126 348 -61.5 653699 5021718 402 Richard-GMZ Trend
GWM20BL-128 286 -78 653699 5021718 495 Richard-GMZ Trend
GWM20BL-130 256 -79 653699 5021718 525 Richard-GMZ Trend
GWM20BL-133 312 -76 653699 5021718 399 Richard-GMZ Trend
GWM20BL-136 263 -71.5 653699 5021718 453 Richard-GMZ Trend
New Brunswick Junior Mining Assistance Program
Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assista nce Program,
which partially funded drilling of the GMZ, Jubilee, and Richard Zones.
Geology and Mineralization
The recent discovery of the Ri chard Zone in hole 12 contains elevated levels of bismuth, arsenopyrite, and antimony,
in multiple quartz veins, with tungsten in the vicinity. This is similar to other Clarence Stream deposits, which can be
characterized as intrusion -related quartz -vein h osted gold deposits. Richard Zone contains multiple zones of quartz
veining with sulfides and sericite alteration. In general, mineralization at Clarence Stream consists of 10 -70% quartz
stockworks and veins with 1 -5% fine pyrite plus pyrrhotite plus arsen opyrite plus stibnite in sericite altered sediments.
The Jubilee mineralization consists of 2% -5% disseminated pyrite, sphalerite, galena, arsenopyrite, chalcopyrite, and
pyrrhotite in sediments with white to smoky grey quartz veining. Locally there is up to 10% sphalerite and semi -
massive galena veinlets. The 2.5 km trend that hosts the GMZ, Richard and Jubilee Zones contains a mineralized mafic
intrusive locally – similar to the South Zone, which currently hosts most of the property’s last reported gold r esources
(September 2017). A more complete description of Clarence Stream’s geology and mineralization can be found at
www.galwaymetalsinc.com .
Review by Qualified Person, Quality Control and Reports
Michael Sutton, P.Geo., Director and VP of Exploration 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 Inc. All core,
chip/boulder samples, and soi l samples are assayed by Activation Laboratories, 41 Bittern Street, Ancaster, Ontario,
Canada, who have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing
facility. All samples are assayed for gold by Fire Assa y, 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 in serted 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 the Company
Galway Metals is well capitalized with two gold projects in Canada, Clarence Stream, an emerging gold district in New
Brunswick, and Estrades, the former producing, high-grade VMS mine in Quebec. The Company began trading on January
4, 2013, after the successful spinout to existing shareholders from Galway Resources following the completion of the
US$340 million sale of that company. With substantially the same management team and Board of Directors, Galway
Metals is keenly intent on creating similar value as it had with Galway Resources.
Figure 1: Clarence Stream Plan Map
Figure 2: Plan Map of the R ichard Zone
Should you have any questions and for further information, please contact (toll free):
Galway Metals Inc.
Robert Hinchcliffe
President & Chief Executive Officer
1-800-771-0680
www.galwaymetalsinc.com
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herein.
This news release contains forward -looking information which is not comprised of hi storical facts. Forward -looking
information involves risks, uncertainties and other factors that 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 statements made herein with respect to, among other things, the
Company’s objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential
mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of
market conditions. Factors that could cause actual results to differ materially from such forward -looking information
include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying
significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project
approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in
equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of
projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and
development industry, as well as those risks set out in the Company’s public disclosure documents filed on SEDAR.
Although the Company believes that management’s assumptio ns used to develop the forward -looking information in this
news release are reasonable, including that, among other things, the Company will be able to identify and execute on
opportunities to acquire mineral properties, exploration results will be consistent with management’s expectations, financing
will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will
remain relatively stable, and the Company will be successful in the outcome of legal proceedi ngs, 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 o bligation to
update or revise any forward-looking information contained herein, whether as a result of new information, future events or
otherwise, except as required by applicable securities laws.