Victorio

The Victorio Molybdenum-Tungsten Project is an advanced-stage exploration property in which Galway Metals has an option to acquire a 100% interest. Significant activity at Victorio has been inactive since the early 1980's due to depressed metal pricing. The property has favorable infrastructure such as access by paved road to within a few miles of the site, a nearby railway and a gas pipeline. Victorio is located approximately 20 miles west of Deming, New Mexico, in Luna County.

In 2008, Galway completed a 12-hole, 25,000 foot, phase 2 infill drilling program. The purpose of the infill drilling program was to upgrade the resources with the next step being a pre-feasibility study. The first phase of drilling included 6 holes totaling 13,000 feet. This project was acquired in June 2006, and was worked on extensively by Gulf Minerals in the early eighties as they drilled 165,000 feet.

The current Technical Report on Victorio's Resources by Dr. H. Peter Knudsen and Peter H. Hahn dated November 15, 2012, was derived from 217,000 feet of drilling using an $8.00 Tungsten and $15.00 per pound molybdenum long term price.