(Toronto, Ontario, March 26, 2024) – Galway Metals Inc. (TSX-V: GWM; OTCQB: GAYMF) (the “Company” or “Galway”) is pleased to announce that it has commenced additional metallurgical and process definition studies for the Company’s flagship, 100%-owned Clarence Stream high-grade gold project in New Brunswick, Canada. Mr. Steve Haggarty, P.Eng, Managing Director of Haggarty Technical Services Corp, is supporting the test program, which involves an integrated approach expanding on previously completed studies aimed at advancing process flowsheet definition with an emphasis on gold recovery.
“We are very excited to continue to advance and derisk our Clarence Stream gold project with this additional metallurgical and process work,” stated Galway’s President and CEO, Robert Hinchcliffe, “I am very pleased we have the support of Steve Haggarty, whose resume is highlighted below, and we look forward to reporting on the metallurgical progress we make in the coming months.”
Galway intends to use McClelland Labs in Nevada, and to examine the metallurgical characteristics of composite samples from the North, South, and Southwest zones. Metallurgical test work will continue throughout 2024 and follows work previously completed for the North and South zones.
Mr. Haggarty has 43 years experience in the mining industry including global management and operational roles with Teck Corporation, International Corona, Homestake Mining Company, and Barrick Gold Corporation. He is a metallurgical engineering graduate from McGill University and has been involved with seven EPCM projects during his career providing an appreciation of the requirements to support project definition, feasibility studies, metallurgical testing, process operations, site optimization and project delivery. Since becoming an independent consultant in 2018, Mr. Haggarty has supported multiple greenfield exploration projects, mine site optimization efforts, engineering companies, and due diligence reviews for investors in the mining community.
Clarence Stream Geology and Mineralization
The Clarence Stream deposits can be characterized as intrusion-related, structurally controlled, quartzvein hosted gold deposits. These deposits consist of quartz veins and quartz stockwork within brittleductile 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.
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing its 100%-owned, high-grade, open-pitable Clarence Stream gold project in southwest New Brunswick. Clarence Stream is an emerging gold district with an exploration strike length of approximately 65 kilometres. Galway Metals also has 100%-ownership in the Estrades project, a former producing highgrade, 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 forwardlooking 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 forwardlooking information, whether as a result of new information, future events or otherwise, other than as required by law.