Open Pit Constrained Gold Resource

Indicated: 886,000 Ounces at 2.27 g/t Au (in 12.1M tonnes)

Inferred: 731,000 Ounces at 1.93 g/t Au (in 11.8M tonnes)

Additional Underground Gold Resource

Indicated: 36,000 Ounces at 4.10 g/t Au (in 0.3M tonnes)

Inferred: 603,000 Ounces at 4.50 g/t Au (in 4.2M tonnes)

(Toronto, Ontario, April 25, 2022) – Galway Metals Inc. (TSX-V: GWM; OTCQB: GAYMF) (the “Company” or “Galway”) is pleased to report an updated Mineral Resource statement disclosed in accordance with NI43-101 standards, prepared by SLR Consulting (Canada) Ltd. on its Clarence Stream property located in southwest New Brunswick, Canada. The previous resource was disclosed 4½ years ago in September 2017. Since then, 106,272 metres of drilling in 337 holes were undertaken in the new SW Deposit that have contributed to the significant increases in the resource totals. Galway’s objectives over the past 4 years were to make multiple discoveries as exploration moved outward from the North and South Zones, where 100% of the prior resource was located, to demonstrate that Clarence Stream represents an important new gold district in North America. Galway is pleased to note that these objectives have been successfully met. It’s also important to note that all Zones included in the resource update are open for significant expansion. Today’s announcement simply represents a snapshot in time.

“We are very pleased to have taken a major step forward at Clarence Stream. The Indicated and Inferred open pit estimates of 886,000 ounces at 2.27 g/t Au plus 731,000 ounces at 1.93 g/t Au, respectively, is a great start. These resource grades we are reporting compare very favourably to most other pit-constrained resources in the industry. The next step will be the planning of a preliminary economic assessment. Looking forward, the focus of our drilling program is to continue to expand the existing zones that are all open, to follow-up on 3 previously-made discoveries that weren’t included in the resource and to make more discoveries to further enhance this new gold district,” said Robert Hinchcliffe, President and CEO of Galway Metals. “Galway recognizes the importance that New Brunswickers and First Nations place on natural resources and the environment, and we are committed to advancing the Clarence Stream Project in a manner that respects these values. As the project evolves, we are looking forward to engaging our neighbours and First Nations.”

Table 1: Updated Mineral Resource Statement, Clarence Stream Deposits, New Brunswick, Canada, by SLR Consulting (Canada) Ltd., March 31, 2022

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https://galwaymetalsinc.com/2022/04/galway-metals-clarence-stream-resource-update-indicated-922000-oz-at-2-31-g-t-au-up-136-inferred-1334000-oz-at-2-60-g-t-au-up-382/