(Toronto, Ontario, July 15, 2020) – Galway Metals Inc. (TSX-V: GWM) (the “Company” or “Galway”) is pleased to report assay results from drilling on the west side of the Richard Zone at the Company’s Clarence Stream project in southwest New Brunswick, Canada (Figure 1 and Figure 2). The latest results are highlighted by:
Hole 106 intersected 54.7 grams per tonne (g/t) Au over 2.5 metres (m), including 191.0 g/t Au over 0.5m Visible Gold (VG) (Photo @ 88.7m), plus VG at 200.45m (Photo; assays pending) starting at vertical depths of 86m and 196m below surface, respectively.The VG at 200.45m is 30m west of an intersection of 44.1 g/t Au over 9.5m (within 10.6 g/t Au over 47.0m) in hole 87.
The 3 highest grade individual assays from drilling on the entire Clarence Stream property are all from Galway’s 3 new discoveries, and now 6 of the top 10 assays are also from those 3 new discoveries. In addition to the 191.0 g/t Au over 0.5m (from 54.7 g/t Au over 2.5m) noted above, the Richard Zone also hosts 191.0 g/t Au over 0.5m (from 6.2 g/t Au over 38.5m) and 495.0 g/t Au over 0.5m (from 10.6 g/t Au over 47.0m), while the nearby George Murphy Zone (GMZ) has returned 807.0 g/t Au over 1.25m (from 241.5 g/t Au over 4.2m), and 201.0 g/t Au over 0.5m (from 13.0 g/t Au over 8.7m), plus the recently-reported wildcat hole in the newest discovery intersected 186.5 g/t Au over 0.6m (June 24, 2020 press release).
Hole 97 intersected 1.4 g/t Au over 46.0m, including 27.0 g/t Au over 0.5m, and 16.8 g/t Au over 1.0m, starting at a vertical depth of 135m below surface. This appears to be the same zone as the 10.6 g/t Au over 47.0m in hole 87 and 6.2 g/t Au over 38.5m in hole 101.
Hole 97 also intersected 4.7 g/t Au over 8.2m, including 24.1 g/t Au over 1.5m, starting at a vertical depth of 306m and 141m down plunge from the 10.6 g/t Au over 47.0m in hole 87. This intersection in hole 97 is now the deepest intersect in the Richard Zone (the intersect in hole 87 was previously the deepest). It is also the 2nd-deepest wide intersect in the GMZ, Richard and Jubilee Zone’s 2.5km-long mineralized system – the deepest is 6.5 g/t Au over 14.05m, located at a 321m vertical depth in hole CL20-88 in the George Murphy Zone (April 29, 2020 press release). These deep intersects remain open along strike and below.
Hole 74 intersected 1.2 g/t Au over 10.5m, including 4.3 g/t Au over 1.9m, starting at a vertical depth of 94m below surface.
Hole 91 intersected 8.5 g/t Au over 1.5m, starting at a vertical depth of 66m below surface.

Robert Hinchcliffe, President and CEO of Galway Metals, said, “We are pleased with this latest set of drill results, and are eagerly awaiting results from many other holes recently drilled as well as the exploration of new targets at Clarence Stream. When the 5th rig arrives in August, we will follow up on the recent discovery located about 1km SW and along strike of the Jubilee Zone, which returned 186.5 g/t Au over 0.6m. Our aim is to expand on this and other nearby intersects so that it becomes another New Zone. If this pans out, the trend from the GMZ to the new discovery will stretch at least 3.5km. Importantly, one of the best soil trends on the property begins another 1km along strike to the SW from our new discovery, and stretches another 4km+ (Figure 3). With $22M in cash, Galway’s recently expanded, 75,000m drill program is fully-funded through the end of 2021. Our aim is to not only 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.”

The 54.7 g/t Au over 2.5m in drill hole 106, the 1.2 g/t Au over 10.5m in drill hole 74, and the 8.5 g/t Au over 1.5m in hole 91 are interpreted to be western extensions to the discovery hole intersection of 7.3 g/t Au over 36.7m, located 184m, 112m, and 278m to the west respectively. The second zone in hole 106 contains at least one area of Visible Gold (Photo @ 200.45m).

Galway’s Drill Program: Expand Zones, Tighten Spacing, and Make New Discoveries

Galway’s drill program over the next several months is to utilize 5 rigs, up from 3, in the following ways:
to continue drilling the 2 gaps between the George Murphy, Richard and Jubilee Zones;
to tighten drill spacings in these zones – generally to 50 metres for inclusion in the Q1/21 resource update;
to follow-up on the recent new discovery that returned 186.5 g/t Au over 0.6m located 950m SW and along strike of the western-most intersection of the Jubilee Zone;
to follow-up on the recent new discoveries of multiple veins to the north of the GMZ; and
wildcat drilling will also take place north of the North Zone, east of the GMZ, and on the 4km+ high-grade gold-in-soil anomaly on strike to the SW of the new discovery, and the Jubilee, Richard and George Murphy Zones.

Several drill holes have had pending assays returned or metallic screen assays returned that changes previously-released intersections. For instance, in hole 78, the intersection is now 22.55m instead of the original 4.75m.

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-106 0 79.0 PENDING 80.0 81.0 1.0 0.6 87.3 89.8 2.5 54.7
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https://galwaymetalsinc.com/2020/07/galway-metals-intersects-54-7-g-t-au-over-2-5m-1-4-g-t-au-over-46-0m-and-4-7-g-t-au-over-8-2m-deepest-intersect-at-west-end-of-the-richard-zone-at-clarence-stream/