Galway Metals’ District-Scale Geophysics Defines High-Priority Target Corridor Between Clarence Stream’s Two Largest Gold Deposits
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
1
NEWS RELEASE
Galway Metals’ District-Scale Geophysics Defines High-Priority Target
Corridor Between Clarence Stream’s Two Largest Gold Deposits
(Toronto, Ontario, May 28, 2026) - Galway Metals Inc. (TSX-V: GWM; OTCQB: GAYMF) (the
"Company" or “Galway”) is pleased to announce preliminary results from its 2026 district-scale airborne
geophysical program at the Company’s 100%-owned Clarence Stream Gold Project in southwest New
Brunswick. The HeliTEM, Resolve 5, and magnetic surveys have enhanced Galway’s understanding
of the geological structures controlling gold mineralization and identified a compelling exploration target
corridor between the South and Southwest deposits. Preliminary interpretation has identified a strong
conductive graphitic horizon associated with known gold mineralization that provides an important
regional marker for tracing key structural trends, while also highlighting additional conductive features,
structural breaks, and potential offsets of known mineralized trends that may represent future drill
targets across the broader Clarence Stream gold system.
Rob Hinchcliffe, President and CEO of Galway Metals, commented: “Our first hole into the South-Limb
Target Trend has now been completed and encountered the geology we were hoping to see, including
multiple quartz veins with visually identified arsenopyrite and alteration consistent with our exploration
model. This is an encouraging start as we test one of the most compelling new exploration targets
identified through our 2026 district -scale geophysical program. As shown in Figure 1, the South -Limb
Target Trend consists of an interpreted 6-kilometer corridor located between the South and Southwest
deposits, Galway’s two largest known gold deposits, and supports our view that Clarence Stream has
significant room to grow. Core has been logged and sampled, and we look forward to updating
shareholders when assay results are received.”
Program Highlights:
• Preliminary airborne geophysics supports the interpretation that the South and Southwest
deposits may occur along opposing limbs of a regional-scale fold structure.
• The known deposits and interpreted target corridor define more than 6 kilometres of prospective
strike length between the two deposits.
• A conductive graphitic horizon provides a mappable regional marker horizon, supporting
Galway’s evolving structural interpretation of gold mineralization at Clarence Stream.
• Initial drilling of the South-Limb Target Trend has commenced, with core logging and sampling
underway and assays pending.
• Ongoing interpretation and integration of the geophysical dataset is expected to generate
additional priority drill targets across the Clarence Stream Project.
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
2
Figure 1: Preliminary HeliTEM conductivity map highlighting the newly defined South-Limb Target Trend between the South
and Southwest deposits. The 6 km target corridor is interpreted to occur along the southern limb of a regional-scale fold
system and represents a priority area for follow-up drilling.
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
3
Figure 2: Conceptual cross section illustrating the interpreted fold geometry between the Southwest and South deposits,
including the conductive graphitic marker horizon and newly defined South-Limb Target Trend.
Initial Drilling of South-Limb Target Trend
Galway has commenced drilling along the newly interpreted South-Limb Target Trend, a priority target
generated from the preliminary airborne geophysical interpretation. The target area lies between the
South and Southwest deposits and is interpreted to represent a prospective structural corridor
associated with the broader Clarence Stream gold system.
The first hole in the South-Limb Target Trend was drilled near the midpoint of the interpreted structural
corridor, completed to a depth of 440 m, and encountered the anticipated geological sequence,
including conglomerate, hydrothermal alteration, and swa rms of quartz veins with sulphide
mineralization visually identified as arsenopyrite. Quartz-vein swarms were observed at several
locations downhole, including at approximately 197 m and 330 m. Core has been logged and sampled
and assays are pending (Figure 3).
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
4
Figure 3: Core photo from SL-01 showing quartz veining with sulphide mineralization visually identified as arsenopyrite
within the South-Limb Target Trend. The veining was encountered at approximately 330 m downhole, corresponding to less
than 200 m vertical depth. Assays are pending.
The Company cautions that visual observations of quartz veining, alteration and sulphide mineralization
are preliminary in nature and are not necessarily indicative of gold grade or economic mineralization.
Assay results are required to determine the prese nce, grade and significance of gold mineralization,
and will be reported once received, reviewed, and interpreted.
Ongoing Geophysical Interpretation
In addition to the South -Limb Target Trend, the preliminary airborne geophysical interpretation has
identified numerous conductive responses, structural breaks, and potential offsets of known
mineralized trends across the survey area that may represent additional exploration opportunities.
Galway’s geophysical consultants continue to refine and interpret the preliminary dataset through
additional processing and integration with drilling, geology, soil geochemistry, and known mineralized
trends. As interpretation advances, Galway expects to prioritize additional drill-ready targets across the
Clarence Stream Project.
The preliminary results are supporting Galway’s evolving geological and structural understanding of the
Clarence Stream gold system and are expected to enhance targeting across the Project’s
approximately 65-kilometre prospective trend.
Geology and Mineralization
Gold-antimony mineralization at Clarence Stream is structurally controlled and associated with quartz
veins and quartz stockwork developed within brittle -ductile fault zones hosted in both intrusive and
metasedimentary rocks. Mineralization is associated w ith pyrite, base -metal sulphides, and stibnite,
along with anomalous concentrations of bismuth, arsenic, and antimony, and tungsten.
Alteration within host rocks is typically confined to a few metres surrounding quartz veins and is
characterized primarily by sericitization and chloritization.
A more detailed description of the Clarence Stream geology and mineralization is available at
www.galwaymetalsinc.com.
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
5
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 Jason Flight, P.Geo., Vice
President of Exploration, both Qualified Persons as defined by National Instrument 43-101. Mr. Fisher
and Mr. Flight certify 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 Practice
Guidelines.
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% participating 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 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
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” and “forward-looking information”
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
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“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
Galway Metals Inc.
82 Richmond Street East, Toronto, Ontario, M5C 1P1
TSXV – GWM
OTCQB – GAYMF
6
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,
and those risks set out in the Company’s public documents filed on SEDAR+ at sedarplus.ca. 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.