(Toronto, Ontario, September 30, 2020) – Galway Metals Inc. (TSX-V: GWM) (the “Company” or “Galway”) is pleased to report new drill results from the western extension of the George Murphy Zone (GMZ) at the Clarence Stream Gold Project in SW New Brunswick. These results follow-up on previously-released drill hole 88 that extended the zone 230m to the west and that returned three areas of visible gold with intersections of 6.5 g/t Au over 14.05 m, 9.7 g/t Au over 2.0m and 1.2 g/t Au over 11.0m (Figure 1). The current drill results extend the GMZ a further 35m to the west to a total of 765m. The GMZ remains open for expansion in all directions – in fact, all zones at Clarence Stream remain open for expansion in all directions (Figure 2).

“The new results will greatly help to increase the resource estimation that Galway will undertake in the new year. The system is getting larger and new veins are being added. Drills are following up on Galway’s new discoveries to the east and west of 13.4 g/t Au over 12.95m and 186.5 g/t Au over 0.6m, which are on the two ends of the 3.7km mineralized corridor and remain open for further expansion. Drilling will also commence on our newly-acquired claims where a boulder field exists with boulders ranging up to 18.5 g/t Au, and where historical intersections such as 5.2 g/t Au over 2.5m and 3.7 g/t Au over 3.0m are located. These newly-acquired claims are 19 km west of the current resource at the South Zone, in geology that is a mirror image in all respects,” cites Robert Hinchcliffe, President and CEO of Galway Metals.

Assay Highlights
BL20-99: 2.1 grams per tonne (g/t) Au over 38.75 metres (m), including 64.3 g/t Au over 0.55m, 15.6 g/t Au over 0.55m, 13.7 g/t Au over 0.85m, 3.6 g/t Au over 0.75m, 3.9 g/t Au over 0.65m, and 3.8 g/t Au over 0.6m, starting at a vertical depth of 114m below surface
BL20-104: 12.2 g/t Au over 2.2m, including 27.4 g/t Au over 0.9m (this is a new vein), starting at a vertical depth of 44m below surface
BL20-105: 2.8 g/t Au over 6.65m, including 9.3 g/t Au over 0.5m, 10.1 g/t Au over 0.5m, and 9.7 g/t Au over 0.8m (this is a new vein), plus 21.7 g/t Au over 1.0m, plus 0.6 g/t Au over 4.2m, starting at vertical depths of 135m, 196m and 151m below surface, respectively
BL20-96: 0.7 g/t Au over 18.85m, including 8.5 g/t Au over 0.55m, plus 9.9 g/t Au over 1.0m, plus 1.1 g/t Au over 3.4m, starting at vertical depths of 132m, 102m and 149m below surface, respectively
CL20-62: 16.8 g/t Au over 2.0m, including 40.3 g/t Au over 0.7m, and 9.0 g/t Au over 0.6m, starting at a vertical depth of 126m below surface
CL20-66: 1.9 g/t Au over 11.8m, including 10.2 g/t Au over 0.9m, 5.5 g/t Au over 0.8m, and 6.8 g/t Au over 0.65m, plus 2.8 g/t Au over 1.0m, starting at vertical depths of 179m and 207m below surface, respectively
CL20-66A: 3.6 g/t Au over 8.0m, including 30.1 g/t Au over 0.5m, and 12.8 g/t Au over 0.5m, plus 26.5 g/t Au over 0.5m starting at vertical depths of 297m and 129m below surface, respectively

GMZ West Is Filling In Nicely

The intersections in holes CL-62, 66, and 66A are located within a 192-metre gap between the 6.5 g/t over 14m (hole CL-88) and an intersection of 1.6 g/t over 14m (hole CL-35). The intersection of 0.7 g/t Au over 18.85m in hole BL-96 is thought to correlate with the intersection of 6.5 g/t Au over 14.05 m in hole BL-88, which is located 227 metres below and east of it. The intersection of 2.1 g/t Au over 38.75m in hole BL-99 is thought to correlate with the intersection of 1.2 g/t Au over 11.0m in hole BL-88, which is located 111 metres below it. The intersection of 21.7 g/t Au over 1.0m in hole 105 is thought to correlate with the intersection of 9.7 g/t Au over 2.0m in hole BL-88, which is located 103 metres below it. The intersection of 2.8 g/t Au over 6.65m in hole 105 is thought to correlate with the intersection of 12.2 g/t Au over 2.2m in hole BL-104, which is located 105 metres above and west of it. This new vein is located 28m north of previous intersections. The intersection in hole 104 extends the known strike of the GMZ by 35 metres west to 765 metres total.

Assays Pending on 6 Additional Holes in GMZ West, and the Drill Has Moved Into the 650m GMZ-Richard Gap

Six additional holes have been drilled in the 230-metre area of these results to continue follow-up on the intersections of 6.5 g/t Au over 14.05 m, 9.7 g/t Au over 2.0m, 1.2 g/t Au over 11.0m; assays are pending. One drill has moved to follow up on the previously-released holes 85 and 86 in the 650-metre gap between the GMZ and the Richard Zone. Those holes intersected 12 veins, with the best intersections returning 1.0 g/t Au over 6.3m, and 5.8 g/t Au over 0.55m.

Galway Made 4 Discoveries at Clarence Stream

Galway has made two new discoveries recently – one approximately 1.0 km SW and along strike of the Jubilee Zone, Clarence Stream’s western-most known deposit by intersecting 186.5 g/t Au over 0.6m, and the other new discovery 3.7 km to the NE with 13.4 g/t Au over 12.95m.

Galway’s George Murphy Zone discovery was initially reported in December 2017, but drilling stopped a year later following the discovery of the Richard Zone, which was first reported in January 2019. Drilling at the GMZ resumed a year later in mid-November 2019. The plunge of all zones to date in the Jubilee, Richard, and GMZ are thought to be to the west (further suggesting that all 3 are part of the same 2.5 km long system).

The GMZ is now 765m long, with multiple structures over 310m wide, and with all zones open in every direction. The gap between the GMZ and Richard Zones is now 650 metres, down from 1.0km originally. Galway is now drilling this gap as part of its 5 drill, 75,000 metre 2020-21 exploration program.

The GMZ and Richard Zones Have Recently Been Extended to Depth and Remain Open

The 6.5 g/t over 14m is the second deepest intersection to date at 321m in any of the 3 zones along this trend – the Jubilee, Richard and George Murphy Zones, which cover 2.5 km of strike length (April 29, 2020 press release). An intersection of 10.0 g/t over 4.5m in the Richard Zone is located at 330m vertical (September 9, 2020 press release). These 3 zones are not included in the existing Clarence Stream resource, as two of them, the GMZ and Richard, were discovered by Galway after the last resource estimate was released in September 2017, but will be included in the Q1/21 update. These results, and those that precede them, demonstrate that Clarence Stream is an emerging new gold district in North America.

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