Galway Metals Intersects 14.5 g/t Au over 3.1m and 0.9 g/t Au over 35.2m in a Satellite Zone 5 Km West of Clarence Stream; Additional Strong Gold Anomalies Delineated
Galway Metals Intersects 14.5 g/t Au over 3.1m and 0.9 g/t Au over
35.2m in a Satellite Zone 5 Km West of Clarence Stream; Additional
Strong Gold Anomalies Delineated
(Toronto, Ontario, October 12, 2017) - Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) is pleased
to report partial assay results from two diamond drill holes from its Jubilee property, located five-km southwest of and
on strike with the South Zone at Clarence Stream (Figure 1). These are the first step-out assay results received from
Galway’s 11-hole, 1,766-metre drill program designed to follow up on previous gold intersections reported by Jubilee
Gold and Union Gold.
Robert Hinchcliffe, President and CEO of Galway Metals, said, “Galway has successfully expanded the first satellite
mineralized zone outside the two resource areas at Clarence Stream, and we are planning additional drilling for further
expansions in the future. The new intersections appear to have good widths with little overburden. Other mineralization
in this satellite zone was intersected by Jubilee and Union, which Galway followed up. Taken together, the near-surface
mineralization encountered at Jubilee could represent the first of several new deposits to be discovered in what may be
an emerging gold district at Clarence Stream. We have moved the drill rig a bit to the east to test a strong anomaly that
lies in between, and along strike with the South Zone and Jubilee. We plan to then test several of the areas of strong
soil anomalies outlined below.”
Galway is also pleased to report additional strong gold-in-soil anomalies delineated along strike with North and South
Zone resources, extending up to 12.0 km along strike from the South Zone western limit (Figure 2). On September 26,
2017, Galway issued a resource update at Clarence Stream, which now includes pit-constrained resources of 352,200
ounces of Measured and Indicated plus 153,100 ounces of Inferred, each at 1.9 g/t gold. The underground gold resource
contains an additional 37,800 ounces at 4.4 g/t of Measured and Indicated plus 124,100 ounces at 4.5 g/t of Inferred
(estimate prepared by SRK Consulting (U.S.), Inc.).
Jubilee Drill Intersects Highlight the First Satellite Deposit at Clarence Stream
The drill results at Jubilee highlighted below are significant because they contain wide, near-surface intersects that may
be amenable to pit-constrained extraction (like 76% of the resource at Clarence Stream; Drill Hole Result Tables):
0.9 grams per tonne (g/t) gold (Au) over 35.2 metres (m), including 8.2 g/t Au over 1.0 m, 2.2 g/t Au over
1.0 m, 3.4 g/t Au over 1.3 m, and 1.9 g/t Au over 1.0 m, plus 0.7 g/t Au over 12.5 m, including 1.3 g/t Au over
1.0 m, 1.5 g/t Au over 1.0 m, and 1.7 g/t Au over 1.0 m starting at vertical depth s of 4.0 m and 40.0 m,
respectively, in hole GWM17BL-01
14.5 g/t Au over 3.1 m, including 41.7 g/t Au over 1.05 m, plus 0.8 g/t Au over 10.6 m, plus 1.9 g/t Au over
2.0 m, plus 0.6 g/t Au over 3.1 m, starting at vertical depths of 62.0m, 26.0m, 46.0m and 8.5m, respectively,
in hole GWM17BL-02
Galway’s first two drill holes at Jubilee targeted the open west end of the zone, with the intersections located
approximately 72 metres west of previous drilling by Jubilee Gold and Union Gold. While Jubilee Gold and Union
Gold conducted 3,436 metres of drilling in 20 holes on the property from 2001 to 2011, it did not issue a resource
estimate. Their drilling did, however, return resource-grade intersections such as 10.1 g/t Au over 1.4 meters (within a
broader interval containing 1.1 g/t Au over 23.9 meters) and 8.3 g/t Au over 1.4 meters (within 2.1 g/t Au over 8.5
meters). The zones wer e drilled to a vertical depth of 89 metres (11.3/0.5m) by previous operators. With the new
results, a resource would cover approximately 270 metres of horizontal strike length. At least three horizons of
mineralization covering a width of 85 metres appear to be present in the historical drilling, while another
horizon has been intersected within the intrusion to the northwest, adding 60 metres for a total of 145 metres of
width to the zone. True widths for all drill programs to date at Jubilee are unknown at this time.
The two holes Galway is reporting herein were from the same set-up, and drilled northwest, with Hole 2 undercutting
Hole 1 at a steeper angle. The vertical distance from the 0.9 g/t Au over 35.2 m in Hole 1 to the 0.8 g/t Au over 10.6
m in Hole 2 is approximately 15 metres. The vertical distance from the 0.7 g/t Au over 12.5 m in Hole 1 to the 14.5 g/t
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Au over 3.1 m in Hole 2 is approximately 23 metres. If th ey are the same zones, the zones may be dipping shallowly
to the south as opposed to the steep north dip of the Clarence Stream South Zone. Overburden at this drill site is 2.0
metres vertical. Assays are pending for the remaining 9 holes and for the last half of the first two holes.
Soil Surveys Reveal Highly Anomalous Gold Areas
Resources at Clarence Stream are contained within 2.5 -km of Galway’s 65 -km strike length . Beyond the areas
containing the resources, there are many additional strong drill targets identified that exhibit similarly coincident and
highly anomalous glacial tills, soils, boulders and chip samples, along magnetic lows. Galway Metals has undertaken
a very aggressive soil sampling program consisting of more than 10,000 samples in 2016 and 4,237 samples in 2017,
located along 12 km of the Sawyer Brook Fault System, and from discreet areas located to the north of it. This sampling
was undertaken to cover areas that contained high gold, arsenic, and bismuth glacial till samples that were previously
taken by the New Brunswick and Canadian governments. Such strong till anomalies on/near the Clarence Stream
deposit ultimately lead to its discovery.
After the till anomalies were located, f ollow-up soil sampling led to the identification of drill targets, which resulted
in the delineation of the North and South Zone resources. Many other similarly anomalous showings, however, remain
untested by drilling. Previous operators, such as Freewest Resources, Wolfden Resources and Jubilee Gold also
undertook extensive soil sampl ing. These samples were taken at 25 metre intervals along lines 100 metres apart. In
Galway’s programs, similar sample intervals were used and some strong and laterally extensive anomalies have been
delineated. One linear anomaly in particular stands out as it is in excess of 4 kilometers long. It is 7.5 km to 11.7 km
along strike with Clarence Stream and 2.5 km to 6.7 km along strike with the Jubilee Zone, to the west of where holes
GWM17BL-01 and 02 are located and are open in that direction . It contains 11 samples greater than 100 ppb gold,
with the highest at 681 ppb. For comparison, 10 ppb is considered very anomalous.
Also of note is a northwest -southeast trending wide anomalous zone located north of the North Zone that is on strike
with it. The highest soil grade there is 540 ppb; the highest in the known North Zone area where the resource is located
was 417 ppb. These anomalous soils cannot have come from the known North Zone gold resource area. This North
grid anomalous area has dimensions of 1.7 km by 1.0 km , which is slightly larger than the known North Zone extent.
Soil anomalies also extend 2.8 km to the southeast of the North Zone —also with no drilling having taken place. Almost
all linear soil anomalies are located in magnetic low areas, on the flanks of magnetic highs, in the same pattern as seen
in the North and South Zone resource areas at Clarence Stream.
Two grids were covered in 2017 on either side of the Rollingdam grid that had returned the best results from 2016. The
strongest till anomaly in southwestern New Brunswick is present directly east of the 2016 Rollingdam grid, with 95
ppb gold (versus 24 ppb a t Clarence Steam that led to it s discovery). Eight linear anomalies have been delineated, in
this east zone, up to 1.1 km long. The highest-grade soil anomalies include 681 ppb plus 107 ppb (consecutive samples
25m apart), and 140 ppb in one zone, 164 ppb and 180 ppb in a second zone, and 231 ppb in another zone.
To the west of the 2016 Rollingdam grid, eleven linear anomalies have been delineated, up to 1.4 km long. The highest-
grade soil anomalies include 158 ppb, 180 ppb, and 281 ppb in one zone, 308 ppb and 523 ppb in a second zone, and
111 ppb, 154 ppb, and 104 ppb in other zones. The 2016 Rollingdam grid has seven linear anomalies delineated.
Soil samples are the brown soils directly below the roots and other organic matter that contain chemically (and
mechanically) concentrated gold and other elements, whereas till samples are located below the soils in glacial till
(gravel) that contains gold and other elements that are mechanically transported by glaciers. The tills in the region are
generally thin (1-5 metres) and are thought to have been transported short distances (generally less than 350 metres).
On August 3, 2016, Galway reported that it had secured an Option Agreement to acquire a 100% interest in Clarence
Stream, which is located 70 kilometres (km) south-southwest of Fredericton in south-western New Brunswick, Canada.
Concurrently, Galway acquired the Jubilee (Birneys Lake) property at C larence Stream for CDN$200,000 plus a 1%
NSR royalty with a buyback option for half (0.5%) at any time for CDN$500,000 . Galway would also like to
acknowledge the financial support from the New Brunswick Junior Mining Assistance Program, which funded drilling
at Jubilee.
Note: true widths at Jubilee are unknown at this time.
Jubilee Geology and Mineralization
The 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 a 5 cm
semi-massive galena vein. Drilling appears to be down the bedding in the sediments but mineralized quartz veins
appear to cross -cut the bedding. The 41.7 g/t over 1.05m is hosted by such a set of cross-cutting quartz vein s with
coarse visible gold at ~ 80 ° to the core axis (likely indicating a south dip). Most holes intersected a buried felsic to
intermediate intrusive (granite to diorite-dacite) to the north, which appears to be mineralized.
Clarence Stream Geology and Mineralization
Clarence Stream is located along, and controlled by, the Sawyer Brook Fault boundary of the Gander and Avalon
terranes of the Canadian Appalachians in Palaeozoic age intrusive and sedimentary rocks, which are the primary hosts
of gold mineralization. The deposits are intrusion -related quartz-vein hosted fault -controlled gold with pyrite, base
metal sulphides, and stibnite plus anomalous concentrations of bismuth, arsenic, antimony and tungsten, with
sericitization and chloritization. Gold is present in two main areas—the South Zone along the Sawyer Brook Fault and
the North Zone 3.5 km NW. The South Zone is steeply dipping, east -northeast trending, with two horizons identified
to date, and multiple shoots extending over more than 2.5 km with the resource extending to a maximum depth of 336
metres to date along contacts and within sheared and altered metagabbro and microgranite sills and dikes that crosscut
the meta-sedimentary rocks and are related to the Saint George B atholith to the south (presence of hornfels + veined
and altered auriferous microgranite dikes + high concentrations of Bi, As and Sb). The North Zone consists of four
lenses that appear to be part of the same shallow dipping horizon up to 37.4 metres thic k within a one km by two km
area to a maximum depth of 90 metres, and is hosted within metagreywacke and argillite, and in quartz veins with
stringers and semi-massive stibnite, arsenopyrite, and pyrite.
Review by Qualified Person, Quality Control and Reports
Michael Sutton, P.Geo., 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 soil 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 sa mples 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%.
Jubilee Drilling
Hole ID From To Intercept Au
(m) (m) (m) g/t
GWM17BL-01 5.8 41.0 35.2 0.9
Including 7.0 8.0 1.0 2.2
Including 13.0 14.3 1.3 3.4
Including 27.0 28.0 1.0 1.9
Including 40.0 41.0 1.0 8.2
56.5 69.0 12.5 0.7
Including 61. 62.0 1.0 1.3
Including 64.0 65.0 1.0 1.5
Including 67.0 68.0 1.0 1.7
85.9 87.0 1.1 1.5
GWM17BL-02 8.9 12.0 3.1 0.6
29.2 39.7 10.6 0.8
49.5 51.5 2.0 1.9
67.9 71.0 3.1 14.5
Including 68.9 69.95 1.05 41.7
Hole ID Azimuth Dip Northing Easting Total Depth (m)
Jubilee Drilling
GWM17BL-01 300 -45 5020862 652653 195.0
GWM17BL-02 303 -65 5020862 652654 183.0
Historical Drilling
UG-09-03 295 -45 5020957 652700 98.8
UG-10-03 295 -45 5020856 652621 96.3
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
Figure 2
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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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,
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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 acq uisitions, 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
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delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved
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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 prope rties, exploration results will be consistent
with management’s expectations, financing will be available to the Company on favourable terms when required,
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outcome of legal proceedings, undue reliance should not be placed on such information, which only applies as of the
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herein, whether as a result of new information, future events or otherwise, except as required by applicable securities
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