(Toronto, Ontario, April 25, 2017)
- Galway Metals Inc. (TSX-V: GWM) (the "Company") is pleased to announce that Duncan Middlemiss, P.Eng, has agreed to act as a technical advisor to the Company, assisting in guiding the advancement of Galway's high grade Estrades zinc-gold and Clarence Stream gold properties to optimize their full potential.
"Galway is fulfilling a key goal by adding someone to our team who is a successful mining engineer as well as an experienced project and corporate manager. We'd like to welcome Duncan aboard," cites Robert Hinchcliffe, President and CEO of Galway Metals, "We are committed to advancing our projects as far as possible and we have assembled a team that is capable of finding, developing and running mines."
Mr. Middlemiss, P.Eng, is the President and Chief Executive Officer and a director of Wesdome Gold Mines Ltd. (TSX:WDO) ("Wesdome"). He is on the board of IDM Mining (TSX-V: IDM), helping to guide its Red Mountain project toward production. Prior to joining Wesdome, he was President and Chief Executive Officer and a director of St. Andrew Goldfields Ltd. ("SAS") until its acquisition by Kirkland Lake Gold Inc. in January 2016. In 2002, he joined Foxpoint Resources (now Kirkland Lake Gold Inc.) where he was instrumental in the advancement of the Kirkland Lake Gold Macassa mine from its early developments, to the large new discoveries, through production expansion, and toward the robust producer it is now as Engineering & Production Manager, and later as Mine Manager. Mr. Middlemiss is a native of Kirkland Lake, Ontario, and has extensive experience in the mining of gold deposits in the Abitibi Greenstone Belt.
Galway is also pleased to announce that Rob Richard has been hired as Manager for the New Brunswick properties, including the Clarence Stream deposit. Rob is a graduate of the University of New Brunswick and is familiar with the properties from his work as Project Manager for Rockport Mining Corp. His work with a number of other companies in both VMS and gold exploration has contributed to a very good understanding of the geology, structure, and mineral genesis of the region.
Galway Metals is pleased to announce that it has awarded 415,000 incentive stock options exercisable at C$0.28 per common share and expiring on April 24, 2027, to officers, directors, employees and consultants of the Company. This grant of options is in compliance with terms of the Company's Stock Option Plan and remains subject to acceptance by the TSX Venture Exchange.
About the Company
Galway Metals is well capitalized with two gold projects in Canada, Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade VMS mine in Quebec. The Company began trading on January 4, 2013, after the successful spinout to existing shareholders from Galway Resources following the completion of the US$340 million sale of that company. With substantially the same management team and Board of Directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.
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Galway Metals Inc.
President & Chief Executive Officer
CAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that 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 statements made herein with respect to, among other things, the Company's objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company's public disclosure documents filed on SEDAR. Although the Company believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management's expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, 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 contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.