TORONTO, ON / ACCESS Newswire / October 5, 2026 / Galway Metals Inc. (TSX-V:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to report assay results from drilling southwest of Craig Lake at the Southwest Deposit, part of its 100%-owned Clarence Stream Gold Project in New Brunswick. Drill holes BL-332 and BL-333 intersected high-grade mineralization outside the current resource wireframes, while BL-334 intersected both modeled mineralization and its extensions. These results support Galway's interpretation of southwest-plunging high-grade shoots. The latest mineral resource estimate for Clarence Stream contains 27.2 million tonnes grading 1.62 g/t gold for 1.42 million ounces in the Indicated category and 28.5 million tonnes grading 1.40 g/t gold for 1.29 million ounces in the Inferred category. The estimate is supported by the NI 43-101 technical report titled NI 43-101 Technical Report Clarence Stream Project, New Brunswick, Canada, prepared by SLR Consulting (Canada) Ltd. with an effective date of May 29, 2026.
"These three holes have intersected high-grade gold where our current resource model has a gap along the interpreted southwest plunge," said Robert Hinchcliffe, President and CEO of Galway Metals. "Resource areas on either side give us a compelling target to follow at depth, and the results reinforce our view that there may be other high-grade shoots to test across the Southwest Deposit. As we advance the Clarence Stream PEA, this drilling is helping us evaluate opportunities for deeper resource expansion and the deposit's underground potential."
Highlights (Plan Map)
- BL-332 intersected 2.8 g/t gold over 48.0 metres, including 16.7 g/t gold over 5.0 metres. Separate intervals returned 3.9 g/t gold over 30.0 metres, including 68.3 g/t gold over 1.0 metre, and 4.5 g/t gold over 13.0 metres. (Oblique Section)
- BL-333 intersected 8.3 g/t gold over 6.0 metres, including 39.2 g/t gold over 1.0 metre, and a separate interval of 4.2 g/t gold over 5.0 metres, including 12.2 g/t gold over 1.0 metre.
- BL-334 intersected 6.4 g/t gold over 7.0 metres, including 38.5 g/t gold over 1.0 metre, and a separate interval of 1.0 g/t gold over 10.0 metres.
- BL-276 intersected 4.0 g/t gold over 6.0 metres, including 22.5 g/t gold over 1.0 metre.
Testing the Southwest Deposit's High-Grade Southwest Plunging Shoots
BL-332, BL-333 and BL-334 were drilled to test a gap in the current mineral resource model along an interpreted southwest-plunging trend, where resource areas occur on either side of the new intercepts. The holes intersected high-grade gold in and adjacent to a gap in the current resource model, including mineralization outside the resource wireframes, supporting Galway's interpretation of repeated high-grade shoots in this portion of the Southwest Deposit (Oblique Section). The deposit-scale long section highlights other interpreted southwest-plunging trends that could be followed up with deeper drilling for potential resource expansion (Long Section). Further drilling will help define the continuity and extent of these shoots and evaluate the deposit's underground potential.
The BL-270-series holes were drilled principally to increase drill coverage between and within areas of the current resource and to test continuity across gaps between resource pit shells. These holes intersected additional gold mineralization, including 4.0 g/t gold over 6.0 metres in BL-276, with 22.5 g/t gold over 1.0 metre, supporting the interpretation of mineralized connections in this area.
For a complete list of Southwest Deposit assays reported in this press release, please refer to the Assay and Coordinate Table.
Geology and Mineralization
Gold-antimony mineralization at Clarence Stream is structurally controlled and associated with quartz veins and quartz stockwork developed within brittle-ductile fault zones hosted in both intrusive and metasedimentary rocks. Mineralization is associated with pyrite, base-metal sulphides, and stibnite, along with anomalous concentrations of bismuth, arsenic, antimony, and tungsten. Alteration within host rocks is typically confined to a few metres surrounding quartz veins and is characterized primarily by sericitization and chloritization. A more detailed description of the Clarence Stream geology and mineralization is available at www.galwaymetalsinc.com.
Review by Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Jesse Fisher, P.Geo., Project Manager for Clarence Stream and a Qualified Person as defined by National Instrument 43-101. Mr. Fisher certifies that this news release fairly and accurately reflects the technical information and data presented. Galway Metals conducts its exploration activities in accordance with CIM Best Practices Guidelines.
Quality Control and Reports
All core, chip/boulder samples, and soil samples are assayed by Activation Laboratories, located at 41 Bittern Street, Ancaster, Ontario, Canada, Agat Laboratories, located at 5623 McAdam Road, Mississauga Ontario, Canada L4Z 1N9 and 35 General Aviation Road, Timmins, ON P4P 7C3, and/or Swastika Laboratories situated in Swastika, ON. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. Drill core is NQ size and sample intervals range from 0.5 meters to 1.5 meters in length. All samples 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%.
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing its 100%-owned, high-grade, open-pitable flagship Clarence Stream gold project in southwest New Brunswick. Clarence Stream is an emerging gold district with an exploration strike length of approximately 65 kilometres and widths of up to 28 kilometres in certain areas. Galway Metals holds a 90% participating interest in the Estrades Project, a former producing high-grade, gold-rich polymetallic VMS mine in the northern Abitibi of western Québec. DOWA METALS & MINING CO., LTD. ("DOWA") holds a 10% participating interest pursuant to the previously announced Option and Joint Venture Term Sheet under which DOWA may earn up to a 45% interest in the Project. Led by a management team with a proven track-record of creating shareholder value having sold Galway Resources for US$340 million, Galway Metals is focused on creating value for all its stakeholders.
For additional Information on Galway Metals Inc., Please contact:
Robert Hinchcliffe President & Chief Executive Officer
Telephone: 1-800-501-4808
Email: info@galwaymetalsinc.com
Website: www.galwaymetalsinc.com
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Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" and "forward-looking information" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information 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, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors.
Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development, and those risks set out in the Company's public documents filed on SEDAR+ at sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, 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 obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Galway Metals Inc.
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