Galway Intersects 8.4 g/t Gold over 4.0 Meters, 350 Meters from North Deposit

Rhea-AI Summary

Galway Metals (OTCQB:GAYMF) has reported significant drilling results from its Clarence Stream gold project in New Brunswick, Canada. The company intersected 8.4 g/t gold over 4.0 meters, including 27.4 g/t gold over 1.0 meter, at a location 350 meters from the North Deposit.

The drilling program revealed multiple high-grade intersections, including 4.2 g/t gold over 5.0 meters and 5.3 g/t gold over 3.0 meters. These results were found at shallow depths of 25-46 meters, making them potentially suitable for open-pit mining. The company currently has three drill rigs active at the project.

The Clarence Stream project has a current mineral resource estimate of 922,000 oz gold (Indicated) at 2.3 g/t Au and 1.334 Moz gold (Inferred) at 2.6 g/t Au, with significant district-scale potential across its 65-kilometer strike length.

Positive

• High-grade gold intercept of 8.4 g/t over 4.0m located 350m beyond current resource
• Multiple significant gold intersections at shallow depths (25-46m) suitable for open-pit mining
• Three active drill rigs advancing exploration across multiple deposits
• Project has substantial existing resource of 922,000 oz Indicated and 1.334 Moz Inferred gold
• Received financial support from New Brunswick Junior Mining Assistance Program

Negative

• Additional drilling required to confirm continuity between intercepts
• Results pending for 17 holes, creating uncertainty about overall deposit expansion

TORONTO, ON / ACCESS Newswire / September 8, 2025 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) ("Galway" or the "Company") is pleased to report results from 11 diamond drill holes at the North Deposit on its 100%-owned flagship Clarence Stream high-grade gold project in New Brunswick, Canada. The Clarence Stream Gold Project has district-scale potential, with a 65-kilometre strike length of highly prospective gold showings and anomalies. The 2022 MRE includes 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 Moz, as outlined in 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.

Rob Hinchcliffe, President and CEO of Galway, commented, "Clarence Stream continues to deliver strong results, with high-grade gold intercepts stepping out 350 meters beyond the current resource, effectively doubling the footprint of our easternmost pit. Importantly, these intercepts occur at very shallow depths of just 25 to 46 meters from surface, making them particularly attractive for potential open-pit mining. With three drill rigs turning, we expect steady news flow as we expand the deposits and add near-surface ounces. In the coming months, one of the rigs will move to the South Deposit to begin drilling our highest-grade open pit area and to test nearby high-priority exploration targets. These programs are designed to both grow the resource base and demonstrate the broader district-scale potential of Clarence Stream."

Highlights (Plan Map)

• ND-21: 8.4 g/t gold over 4.0 meters including 27.4 g/t gold over 1.0 meter (Section 1)

• ND-19: 4.2 g/t gold over 5.0 meters

• ND-10: 5.3 g/t gold over 3.0 meters including 9.6 g/t gold over 0.5 meters (Section 2)

• ND-22: 5.6 g/t gold over 2.0 meters including 10.2 g/t gold over 1.0 meter

Expanding High-Grade Gold at the North Deposit

The North Deposit drill program continues to confirm and extend gold mineralization outside of the 2022 resource estimate. Notably, ND-21 was drilled 350 meters north of the current block model and returned 8.4 g/t Au over 4.0 meters, including 27.4 g/t Au over 1.0 meter. ND-19 and ND-22 intersected high-grade gold along the same section, with follow-up drilling underway to test continuity both to surface and at depth. The remaining results in this release help close gaps between previously reported intercepts, building confidence in continuity. Galway has 20-40 additional holes planned in this area and an additional 17 holes with pending assays. For a more comprehensive list of the North Deposit assays, please click the following link (Assay and Coordinate Table)

Accelerating Growth Across All Deposits

Galway currently has three drill rigs active at Clarence Stream. Two rigs are focused on the Southwest Deposit, where drilling is aimed at extending mineralization closer to surface and reducing spacing between resource shells. The third rig is advancing step-outs at the North Deposit, where drilling continues to expand the deposit footprint and highlight its potential contribution to a future resource update.

Looking ahead, Galway plans to redeploy one of the rigs from the Southwest to the South Deposit in the coming months. This program will focus on the project's highest-grade open pit area, while also testing high-priority exploration targets immediately south-southwest of the deposit. These efforts are designed to both expand the existing resource base and evaluate new zones that could meaningfully enhance the scale of Clarence Stream.

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 latest drilling results from Galway Metals (GAYMF) at Clarence Stream?

Galway reported high-grade intersections including 8.4 g/t gold over 4.0 meters (including 27.4 g/t gold over 1.0 meter) located 350 meters from the North Deposit, along with other significant results of 4.2 g/t gold over 5.0 meters and 5.3 g/t gold over 3.0 meters.

What is the current resource estimate for Galway's Clarence Stream project?

The project has a 2022 mineral resource estimate of 12.4 Mt @ 2.3 g/t Au (922,000 oz) in the Indicated category and 16.0 Mt @ 2.6 g/t Au (1.334 Moz) in the Inferred category.

How many drill rigs does Galway Metals have operating at Clarence Stream?

Galway currently has three drill rigs active at Clarence Stream, with two focused on the Southwest Deposit and one advancing step-outs at the North Deposit.

What is the geological characteristics of the Clarence Stream gold deposits?

The deposits are characterized as intrusion-related, structurally controlled, quartz-vein hosted gold deposits within brittle-ductile fault zones, containing pyrite, base metal sulphides, and stibnite with anomalous concentrations of bismuth, arsenic, antimony and tungsten.

What is the exploration potential of the Clarence Stream project?

The project has district-scale potential with a 65-kilometre strike length of highly prospective gold showings and anomalies, with ongoing drilling programs designed to expand the resource base and demonstrate broader potential.