Clarence Stream Drilling Intersects 7.1 g/t gold over 10.0m Including 13.2 g/t over 5.0m at Southwest Deposit

Rhea-AI Summary

Galway Metals (OTCQB:GAYMF) reported results from seven drill holes at the Southwest Deposit, Clarence Stream, on January 28, 2026. Key intercepts include 7.1 g/t Au over 10.0m (incl. 13.2 g/t over 5.0m) and 7.9 g/t Au over 3.0m (incl. 22.0 g/t over 1.0m).

The program linked deeper mineralization to near surface, extended zones outside 2022 pit shells, and confirmed continuity on ~25–50m spacing. The project hosts a 2022 MRE of 12.4 Mt @ 2.3 g/t Au Indicated (922,000 oz) and 16.0 Mt @ 2.6 g/t Au Inferred (1.334M oz). Forty-eight Southwest drill holes remain pending assays.

Positive

• Intersected 7.1 g/t Au over 10.0m, including 13.2 g/t over 5.0m
• Intersected 7.9 g/t Au over 3.0m, including 22.0 g/t over 1.0m
• Drilling linked deeper zones to near surface on ~25–50m spacing
• Project supported by a 2022 MRE: 12.4 Mt @ 2.3 g/t Indicated and 16.0 Mt @ 2.6 g/t Inferred

Negative

• 48 drill holes from the Southwest Deposit have pending assays, delaying a full result set

TORONTO, ON / ACCESS Newswire / January 28, 2026 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to report drill results for 7 diamond drill holes at the Southwest Deposit in the Company's 100%-owned flagship Clarence Stream high-grade gold project in New Brunswick, Canada. The Clarence Stream Gold Project hosts district-scale potential, with an approximately 65-kilometre strike length of highly prospective gold showings and anomalies; and a 2022 MRE of 12.4 Mt @ 2.3 g/t Au Indicated for 922,000 oz., and 16.0 Mt @ 2.6 g/t Au Inferred for 1.334 M oz. gold from the NI 43-101 technical report titled "Technical Report on the Clarence Stream Mineral Resource Project, New Brunswick, Canada" dated March 31, 2022, by SLR Consulting Ltd.

"High grade and fairly wide gold intercepts like these, excite the Management team at Galway Metals, as we continue to build our flagship open pit resource," said Rob Hinchcliffe, President and CEO of Galway. "That continuity is important as we step beyond the edges of our current resource and assess how much additional mineralization can be captured with further drilling. With gold prices hitting record highs, the opportunity to grow high-quality ounces in a shallow setting has never been more compelling. Our drilling is designed not just to confirm continuity, but to build confidence in new resource potential, and these results reinforce the rationale for advancing Clarence Stream on multiple fronts."

Highlights (Plan Map)

• CL-234 intersected 7.1 g/t gold over 10.0m including 13.2g/t gold over 5.0m(Section 1)

• CL-237 intersected 2.7 g/t gold over 12.0m including 11.4 g/t gold over 2.0m; 2.4 g/t over 11.0m including 10.4 g/t over 1.0m; and 2.3 g/t over 5.0m (Section 2)

• CL-232 intersected 7.9 g/t gold over 3.0m including 22.0 g/t gold over 1.0m (Section 3)

  This hole had a previously released intersect of 1.1 g/t gold over 88.0m

• CL-233 intersected 1.5 g/t gold over 9.0m; and 1.0 g/t gold over 9.0m

Drilling Links High-Grade Gold Zones from Depth to Surface

The seven drill holes reported in this release located in the northeastern area of the Southwest Deposit (George Murphy Zone). The primary objective of the program was to connect deeper gold mineralization from the margins of the 2022 resource pit shells to near surface and expand mineralization beyond the current resource footprint.

Drill holes CL-236 and CL-237 intersected multiple gold zones both within and outside the existing pit shells, successfully bringing mineralization to surface and extending mineralized zones to the west, outside the 2022 resource. Drill holes CL-234 and CL-235 further confirmed continuity by linking deeper zones to shallow mineralization on approximately 50-metre spacing.

Additional results from drill hole CL-232, which previously returned 88.0 metres of 1.1 g/t Au, included a high-grade interval of 3.0 metres of 7.9 g/t Au, including 1.0 metre of 22.0 g/t Au. Follow-up drill hole CL-233, completed on 25-metre spacing, intersected 9.0 metres of 1.0 g/t Au and 7.0 metres of 1.5 g/t Au, further supporting continuity in this area.

There are currently 48 drill holes from the Southwest Deposit with pending assays, including 11 holes located near the drill results reported in this release. These results are expected to be released in the coming weeks and months. For a complete list of Southwest Deposit assays, please refer to the Assay and Coordinate Table.

Geology and Mineralization

The Clarence Stream deposits can be characterized as intrusion-related, structurally controlled, quartz-vein hosted gold deposits. These deposits consist of quartz veins and quartz stockwork within brittle-ductile fault zones that include adjacent crushed, altered wall rocks and veinlet material. The mineralized systems are hosted in intrusive and metasedimentary rocks within high strain zones controlled by regional fault systems. Pyrite, base metal sulphides, and stibnite occur in these deposits along with anomalous concentrations of bismuth, arsenic, antimony and tungsten. Alteration in the host rocks is confined within a few metres of quartz veins and occurs mainly in the form of sericitization and chloritization. A more complete description of Clarence Stream's geology and mineralization can be found at www.galwaymetalsinc.com.

New Brunswick Junior Mining Assistance Program

Galway would like to acknowledge financial support from the New Brunswick Junior Mining Assistance Program, which will contribute up to $50,000 towards exploration drilling in 2025.

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 also has 100%-ownership in the Estrades project, a former producing high-grade, gold-rich polymetallic VMS mine in the northern Abitibi of western Quebec. 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: 1-800-771-0680
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" 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 industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. 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.

View the original press release on ACCESS Newswire

FAQ

What were the headline drill intercepts reported by Galway Metals (GAYMF) at Clarence Stream on January 28, 2026?

The headline intercepts include 7.1 g/t Au over 10.0m (including 13.2 g/t over 5.0m) and 7.9 g/t Au over 3.0m (including 22.0 g/t over 1.0m). According to the company, these holes link deeper mineralization to near surface and extend zones outside the 2022 pit shells.

How do Galway Metals' January 28, 2026 drill results impact the Clarence Stream resource footprint (GAYMF)?

The results extend mineralization to surface and outside the 2022 pit shells, suggesting potential expansion. According to the company, drilling connected deeper zones to shallow mineralization on ~25–50m spacing, supporting continuity near the Southwest Deposit margins.

What is the existing 2022 mineral resource at Clarence Stream referenced by Galway Metals (GAYMF)?

The 2022 MRE cited is 12.4 Mt @ 2.3 g/t Au Indicated (922,000 oz) and 16.0 Mt @ 2.6 g/t Au Inferred (1.334M oz). According to the company, the project hosts district-scale potential across ~65 km of prospective strike.

Are there more assay results expected from Galway Metals (GAYMF) at the Southwest Deposit?

Yes. There are currently 48 drill holes with pending assays from the Southwest Deposit. According to the company, additional results, including 11 holes near these new intercepts, are expected in the coming weeks and months.

What quality control measures does Galway Metals (GAYMF) report for Clarence Stream assays?

Assays are performed by ISO/IEC 17025 accredited labs with a QA/QC program including blanks, standards, duplicates, and ~5% check assays at a second lab. According to the company, core recovery in mineralized zones averaged 99%.