Galway Metals Intersects 6.2 g/t Au Over 38.5m, and 1.4 g/t Au Over 85.0m, 45m Apart, at West End of the Richard Zone at Clarence Stream
Galway Metals Intersects 6.2 g/t Au Over 38.5m, and 1.4 g/t Au Over 85.0m, 45m Apart, at West End of
the Richard Zone at Clarence Stream
(Toronto, Ontario, June 1, 2020) - Galway Metals Inc. (TSX-V: GWM) (the "Company" or “Galway”) is pleased to report
assay results from drilling on the western-most section of the Richard Zone at the Company’s Clarence Stream project in
southwest New Brunswick, Canada (Figure 1 and Figure 2). These are located 76m and 34m above (centre of each zone)
the previously reported intersection of 2.4 g/t Au over 30.0m, and 178m west and along the same vein as the previously
reported intersection of 10.6 g/t Au over 47.0m. The latest results are highlighted by:
• Hole 101 intersected 6.2 grams per tonne (g/t) Au over 38.5 metres (m), including 373.0 g/t Au over 0.5m (VG),
and 12.6 g/t Au over 0.95m, plus 7.0 g/t Au over 1.0m starting at vertical depths of 122m and 66m below surface,
respectively.
• The 3 highest grade individual assays from drilling on the entire Clarence Stream property are now all from
Galway’s 2 new discoveries. In addition to the 373.0 g/t Au over 0.5m intersect in hole 101, t he other 2 highest
grade assays are 495.0 g/t Au over 0.5m (from the 10.6 g/t Au over 47.0m in the Richard Zone), and 807.0 g/t Au
over 1.25m (from the 241.5 g/t Au over 4.2m in the George Murphy Zone (GMZ)) (Figure 2 , Figure 3 and
Figure 4).
• Hole 100 intersected 1.4 g/t Au over 85.0m, including 24.2 g/t Au over 1.0m, 12.7 g/t Au over 1.0m, 6.1 g/t Au
over 1.0m, 5.2 g/t Au over 1.0m (VG), 4.9 g/t Au over 1.0m, 4.1 g/t Au over 1.0m, 4.1 g/t Au over 1.0m, 3.4 g/t Au
over 1.0m, and 3.3 g/t Au over 1.0m, starting at a vertical depth of 118m below surface. This 85.0m intersect is
the widest anywhere at Clarence Stream to date (core length and true width).
• Galway continues to receive overwhelming evidence from drill results that the GMZ, Richard and Jubilee Zones
are part of the same 2.5 km -long mineralized system. Galway’s strong drill results demonstrate that Clarence
Stream is an emerging new gold district in North America.
Robert Hinchcliffe, President and CEO of Galway Metals, said, “The wide and high-grade intersections in holes 101, 100
and 87 are among the best in the company’s history, and all these and other strong intersects in proximity to one another
bodes very well for the Clarence Stream resource update scheduled for the 1s t quarter of 2021, both from the perspective
of any pit-constrained or underground resource estimate. The resource has been pushed back due to COVID-19 delays, as
this will provide time for Galway to fill in the gaps between the 3 mineralized zones not yet in resource.”
The intersects in holes 101 and 100 are on the same section as holes 93 below (2.4 g/t Au over 30.0m) and hole 91 above.
Hole 91 has all assays pending where it intersected the zones. Assays are also pending for other veins in holes 100, 101 and
93, and in other holes to the ea st. Hole 101 also intersected a vein that returned 7.0 g/t Au over 1.0m that likely lines up
with the Richard Zone discovery hole intersection of 7.3 g/t Au over 36.7m , located 271 metres to the northeast.
Holes 101, 100 and 93 intersected the same vein as previously released intersects in holes 78, 87, 72, 84 and 69, which
demonstrates excellent grade and width continuity in the Richard Zone (Figure 3). These intersects include:
• 8.4 g/t Au over 12.5m in hole 78
• 10.6 g/t Au over 47.0m in hole 87
• 20.7 g/t Au over 9.5m in hole 72
• 4.6 g/t Au over 29.65m in hole 72
• 5.5 g/t Au over 16.7m in hole 69
The intersections in hole s 101 and 100 are 298m and 282m, respectively, southwest of, and in a different vein than the
previously released discovery hole intersection at Richard in BL18-12, which returned 7.3 g/t Au over 36.7m, including
38.1 g/t Au over 6.5m in multiple quartz veins containing abundant visible gold, starting only 51 metres downhole
and 36 metres vert ical.
82 Richmond Street East Tel: 800-771-0680
Toronto, ON M5C 1P1 Fax: 416-361-0923
There is a 350m gap to the west of holes 101 , 100, 93 and 91 , until the Jubilee Zone is reached with an intersection
that returned 3.0 g/t Au over 12.0m in hole 68. Hole 76, drilled in that gap area, has assays pending where the zone
should be. There is als o a 650m gap to the east of Richard discovery hole 12 until the GMZ is reached with an
intersection that returned 9.7 g/t Au over 2.0m in hole CL20 -88 (with assays pending for 2 holes drilled between the se
two zones) . Hole 88 also returned 6.5 g/t Au over 14. 0m (among several other mineralized intersects ) that was located
192m from the next nearest intersect in the GMZ, 137m vertically below that intersect , and 335m below surface. This
was by far the deepest intersect in any of the three zones – Jubilee, Richard and GMZ – as most are well within 150m
from surface. This indicates depth potential at Clarence Stream remains open.
Galway resumed drilling with 3 rigs at Clarence Stream in late May . Galway’s plan over the next several months is to
continue drilling the 2 gaps between the zones, to tighten drill spacings – generally to 50 metres for inclusion in the
pending resource update, and to follow -up on the recent new discoveries of multiple veins to the north of the GMZ,
which includes 11.4 g/t Au over 2.0m in hole CL20 -58.
Galway will also convert one rig to wide -diameter (PQ -size) core for both ore sorting and metallurgical tests of the 3
zones not yet in resource. Metallurgical tests have been conducted by previous operators on the North and South Zones,
which returned recoveries in excess of 90% in both zones.
The section for holes 101, 100, 93 and 91 has a much flatter di p (37°) than the rest of the Richard Zone to the east of it
(62°), and flatter than the Jubilee Zone (52°). To date, the zones have mimicked the dip of the intrusive located ~ 100m to
the north of Richard. The section is similar visually to the rest of the Richard Zone – remobilized quartz stockworks and
massive veins (15%-20% together) with 1-2% disseminated arsenopyrite.
Table 1. Assay Results
Hole ID From
(m)
To
(m)
Intercept
(m)
Intercept
(m) TW
(Unknown if
not noted)
Au
g/t
RICHARD ZONE
GWM-20BL-101 12.00 72.90 PENDING
74.00 75.00 1.00 1.00 7.0
136.00 174.50 38.5 37.90 6.2
incl. 136.00 136.95 0.95 0.90 12.6
incl. 172.00 172.85 0.85 0.80 9.3
incl. 172.85 173.35 0.50 0.50 373.0
175.75 199.00 PENDING
208.00 209.00 1.00 1.00 1.6
228.00 EOH PENDING
GWM-20BL-100 57.00 97.80 PENDING
122.00 207.00 85.00 76.90 1.4
incl. 154.00 155.00 1.00 0.90 3.3
incl. 158.00 159.00 1.00 0.90 4.1
incl. 187.00 188.00 1.00 0.90 12.7
incl. 188.00 189.00 1.00 0.90 3.4
Hole ID From
(m)
To
(m)
Intercept
(m)
Intercept
(m) TW
(Unknown if
not noted)
Au
g/t
incl. 195.00 196.00 1.00 0.90 6.1
incl. 198.00 199.00 1.00 0.90 4.1
incl. 199.00 200.00 1.00 0.90 24.2
incl. 205.00 206.00 1.00 0.90 5.2
incl. 206.00 207.00 1.00 0.90 4.9
211.15 228.60 PENDING
262.00 264.00 2.00 1.80 0.6
GWM-20BL-93 0 164.00 PENDING
170.00 200.00 30.00 24.9 2.4
incl. 178.20 179.25 1.05 0.90 33.2
incl. 180.65 181.30 0.65 0.50 9.0
209.00 210.00 1.00 0.80 0.6
210.00 293.00 PENDING
(TW=True Widths, which are calculated – sectional measuring may give slightly different numbers); True widths are
unknown if not noted; V.G.=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
BL20-101 320 -65 653320 5021366 239 (to continue) Jubilee-Richard Trend
BL20-100 320 -80 653320 5021366 308 Jubilee-Richard Trend
BL20-93 320 -90 653314 5021362 293 Jubilee-Richard Trend
BL20-91 320 -45 653314 5021362 248 Jubilee-Richard Trend
New Brunswick Junior Mining Assistance Program
Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program,
which partially funded drilling of the GMZ, Jubilee, and Richard Zones.
Geology and Mineralization
The recent discovery of the Richard 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 hosted 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% quar tz stockworks and veins with 1 -5% fine pyrite plus pyrrhotite plus arsenopyrite 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 resources (September 2017). A more complete description of Clarence Stream’s
geology and mineralization can be found at www.galwaymetalsi nc.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 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 samples are assayed for gold by Fire Assay, with gravi metric 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%.
Figure 1: Plan Map of the George Murphy, Richard and Jubilee Zones
Figure 2: Plan Map of the Richard Zone
Figure 3: Long Section of the Middle Vein
Figure 4: Cross Section of the Richard Zone
About the Company
Galway Metals is well capitalized with two gold projects in Canada, Clarence Stream, an emerging gold dist rict 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.
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, uncertaint ies 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 stat ements 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
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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 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 proceedings, undue reliance should
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