Galway Metals Inc. reports exploration and development updates for its Canadian mineral projects, led by the 100%-owned Clarence Stream high-grade gold project in southwest New Brunswick. Recurring news centers on diamond drilling at the South and Southwest deposits, gold and gold-antimony assay results, district-scale geophysical surveys, and work tied to Clarence Stream's NI 43-101 mineral resource and broader 65-kilometre mineralized trend.
Company updates also cover Galway's 90% participating interest in the Estrades Project, a former producing gold-rich polymetallic VMS mine in western Québec, along with exploration leadership, stock option grants, investor relations arrangements, and other public-company matters tied to its TSX Venture and OTCQB traded shares.
Galway Metals (GAYMF) closed a brokered private placement raising approximately $14 million in gross proceeds to fund Clarence Stream exploration.
The company issued 19,437,000 flow-through units at $0.72 each, comprising one common share and one warrant. Each warrant allows purchase of one non-flow-through common share at $0.80 for 36 months from closing. An amount equal to gross proceeds will fund eligible exploration expenditures at the New Brunswick gold project by December 31, 2027, with tax deductions transferred to subscribers effective December 31, 2026.
Michael Gentile now holds approximately 10.94% of outstanding shares, or approximately 19.72% assuming exercise of his offering warrants, and agreed to enter a 12-month lock-up. Galway paid sole agent Beacon Securities a $606,434.40 cash commission. Final TSX Venture Exchange acceptance remains pending.
Galway Metals (GAYMF) reported gold drilling results outside its current resource model at the Southwest Deposit of Clarence Stream in New Brunswick. BL-332 intersected 2.8 grams of gold per tonne (g/t) over 48.0 metres, including 16.7 g/t over 5.0 metres. Separate intervals returned 3.9 g/t over 30.0 metres and 4.5 g/t over 13.0 metres. BL-333 returned 8.3 g/t over 6.0 metres, while BL-334 returned 6.4 g/t over 7.0 metres. BL-276 intersected 4.0 g/t over 6.0 metres.
BL-332 and BL-333 intersected mineralization outside the current resource boundaries; BL-334 intersected modeled mineralization and extensions. Galway interprets the results as supporting southwest-plunging gold zones and potential deeper resource expansion. Further drilling will help define their continuity and extent. The company is advancing a preliminary economic assessment of Clarence Stream and evaluating the deposit's underground potential.
Galway Metals (GAYMF) entered into an agreement with Beacon Securities for a best-efforts brokered private placement of up to 19,437,000 flow-through units at $0.72 each, for gross proceeds of up to approximately $14 million.
Each FT unit comprises one flow-through common share and one flow-through warrant, with each warrant exercisable into one non-flow-through common share at $0.80 for 36 months from the expected October 14, 2026 closing date. Strategic investor Michael Gentile has agreed to subscribe for 17,150,000 FT units, enter a 12‑month lock-up, and is expected to own about 11.04% of basic shares, or 19.9% assuming full exercise of his warrants, becoming a new insider subject to TSXV approval. Proceeds will fund qualifying Canadian exploration expenses at the Clarence Stream gold project to December 31, 2027, renounced to investors effective December 31, 2026.
Galway Metals (GAYMF) has reached a settlement agreement to resolve all outstanding litigation with a former employee, totaling $800,000, comprising $500,000 in cash and $300,000 in common shares.
To satisfy the $300,000 debt component, the company proposes issuing 619,834 common shares at a deemed price of $0.484 per share, in a shares‑for‑debt settlement subject to TSX Venture Exchange acceptance. Galway states this structure is intended to preserve cash for ongoing operations. No insider is participating, and no new insider or control person will be created. The settlement shares will be subject to a hold period of four months and one day from issuance under applicable securities laws and TSXV policies.
Galway Metals (GAYMF) has completed a 13-hole, ~5,000-metre diamond drill program at its Estrades Project in western Québec under the Phase I work program of its option and joint venture term sheet with DOWA METALS & MINING. Drilling finished in late August 2026 and assays are pending.
The campaign targeted the Main, Central and East zones to collect fresh mineralized material for metallurgical testwork and to improve geological understanding that may support future resource and engineering studies. SGS Canada will conduct the new metallurgical program, building on earlier work that increased gold recovery by 31% to 86.6%, and produced a 28% Cu concentrate at 95% recovery and a 54.6% Zn concentrate at 82% recovery. Current gold, silver, zinc and copper prices are described as materially above those used in the January 2026 PEA, though no updated economic analysis has been completed. Galway plans a winter drill program, ongoing environmental baseline studies and further metallurgical optimization.
Galway Metals (OTCQB:GAYMF, TSX-V:GWM) has filed on SEDAR+ an independent NI 43-101 technical report supporting the updated Mineral Resource Estimate for its 100%-owned Clarence Stream Gold Project in southwestern New Brunswick. According to Galway Metals, the report, effective May 29, 2026, was prepared by SLR Consulting (Canada) and shows no material differences from the July 13, 2026 resource disclosure. The report is available on the company’s website and SEDAR+. The scientific and technical information was reviewed and approved by Jesse Fisher, P.Geo., the Qualified Person. Galway also highlights its 90% interest in the Estrades Project in Quebec, where DOWA holds 10% with an option to earn up to 45%.
Galway Metals (OTCQB:GAYMF, TSXV:GWM) has entered into a month-to-month consulting agreement dated August 21, 2026 with Simone Capital Corp. to provide investor relations and capital markets advisory services, including roadshows, investor meetings, outreach, campaigns, social media, webinars and related advisory support.
According to Galway Metals, Simone Capital will receive a cash fee of C$6,500 per month plus taxes starting August 24, 2026, with no securities or equity-based compensation. The agreement is arm's length, may be terminated at any time by either party, will be filed with the TSXV and remains subject to TSXV acceptance. Galway Metals also highlights its Clarence Stream and Estrades mineral projects in Canada.
Galway Metals (OTCQB:GAYMF) reported new assay results from 14 diamond drill holes at the Southwest Deposit of its 100%-owned Clarence Stream Gold Project in New Brunswick. Key intercepts include hole BL-328 with 2.0 g/t Au over 68.0 metres, followed 7 metres downhole by 1.0 g/t Au over 52.0 metres, and BL-311 with 3.3 g/t Au over 23.0 metres plus multiple additional mineralized intervals.
According to Galway Metals, the drilling both infills the current Mineral Resource and tests extensions at depth and along strike. Clarence Stream’s 2026 Mineral Resource Estimate stands at 27.2 Mt at 1.62 g/t Au (1.42 Moz) Indicated and 28.5 Mt at 1.40 g/t Au (1.29 Moz) Inferred. Results will feed into the ongoing PEA and resource model refinement.
Galway Metals (OTCQB:GAYMF, TSX-V:GWM) reported assay results from 14 diamond drill holes at the Southwest Deposit within its 100%-owned Clarence Stream gold project in New Brunswick. Key intercepts include 2.6 g/t Au over 48.0 metres in hole BL-323, with higher-grade sub-intervals of 21.3 g/t Au over 2.0 metres and 9.9 g/t Au over 3.0 metres, plus 1.7 g/t Au over 31.0 metres in BL-322 and 5.3 g/t Au over 5.0 metres in BL-316.
The infill program targeted gaps and areas near the 2026 mineral resource pit shell, aiming to better define and locally expand modeled mineralized zones. Clarence Stream hosts an updated Mineral Resource Estimate of 1.42 Moz indicated and 1.29 Moz inferred. Galway is advancing a Preliminary Economic Assessment, with QA/QC protocols overseen by a Qualified Person under NI 43-101.
Galway Metals (OTCQB:GAYMF, TSXV:GWM) has started a ~5,000‑metre Phase I diamond drill program at its Estrades Project in northern Abitibi, Québec, funded under its Option and Joint Venture Term Sheet with DOWA METALS & MINING, which may invest up to US$25 million.
The program, using two drills, targets the Main, Central and East zones to collect fresh mineralized material for metallurgical testwork by SGS Canada and to improve geological confidence for future resource and engineering studies. Galway, which has drilled 52,281 metres at Estrades since 2016, holds a 90% participating interest, while DOWA holds 10% with the option to earn up to 45%. Additional planned work includes an environmental baseline study starting Q2 2026, continued resource-upgrade drilling, and further metallurgical studies aimed at refining development pathways outlined in a recent positive PEA.