Galway Metals Inc. Announces Private Placement

GALWAY METALS INC. ANNOUNCES PRIVATE PLACEMENT

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

(Toronto, Ontario, October 25, 2017) – Galway Metals Inc. (TSX-V: GWM) (the “Company”) is pleased

to announce a proposed non-brokered private placement financing of up to $2,750,000 comprising of the

sale of flow-through units (the “FT Units”) and hard- dollar units (the “HD Units”), subject to regulatory

approval and closing.

Each FT Unit will be sold for $0.43 and will consist of one flow-through common share and one -half of

one common share purchase warrant (a “Warrant”). Each HD Unit will be sold for $0.35 and will consist

of one common share and one -half of one Warrant. Each Warrant will entitle the holder to purchase one

common share of the Corporation for a period of 24 months after closing at a price of $0.50. If the closing

price on the TSXV of the common shares equals or exceeds $0.75 per share for a period of 20 consecutive

trading days, the Corporation has the right to accelerate the expiry date of the Warrants. To exerci se this

right, within 30 days of the occurrence of an acceleration event, the Corporation must give written notice

to the holder by ordinary prepaid mail, in which case the expiry date of the Warrants is accelerated to the

date that is thirty (30) calendar days from the date of mailing at 4:00 pm Toronto time.

The proceeds of the private placement will be used for exploration on the Company’s Clarence Stream gold

property located in south-western New Brunswick, Estrades polymetallic property located in the northern

Abitibi of western Quebec and for working capital purposes. All proceeds from the sale of FT Units will be

used to fund "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)). The

securities issued pursuant to the offering will be subject to a hold period of four months and one day after

closing.

For further information, please contact:

Galway Metals Inc.

Robert Hinchcliffe

1-800-771-0680

www.galwaymetalsinc.com

CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release. No stock exchange, securities

commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information

involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportuni ties

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 fa ilures

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 assumptions 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

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Toronto, ON M5C 1P1 Fax: 416-361-0923

execute on opportunities to acquire mineral properties, exploration results will be consist ent 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.