Mr. Robert Hinchcliffe reports

GALWAY METALS ENTERS INTO OPTION AND JOINT VENTURE TERM SHEET WITH DOWA METALS & MINING CO., LTD. FOR ITS ESTRADES PROJECT

Galway Metals Inc. has entered into a binding option and joint venture term sheet with Dowa Metals & Mining Co. Ltd., a global leader in non-ferrous metals, smelting, refining and advanced materials. Under the term sheet, Dowa can earn an up-to-45-per-cent participating interest in Galway's 100-per-cent-owned Estrades gold and zinc project located in the Abitibi region of northwestern Quebec, Canada, together with incremental zinc concentrate offtake rights. The term sheet sets out the terms relating to an option for a potential joint venture between Galway Metals and Dowa to own, explore and operate Estrades.

Robert Hinchcliffe, president and chief executive officer of Galway Metals, commented: "We are very pleased to partner with one of the world's most respected integrated mining and metals companies. Dowa brings deep expertise in zinc concentrate processing, technical evaluation and project development. Their commitment to funding up to $25-million (U.S.) across three earn-in phases validates the quality and potential of Estrades. We look forward to working collaboratively to advance the project toward a production decision."

Under the term sheet, Dowa may earn its interest in three phases, for total contributions of up to $25-million (U.S.) as further described below.

Phase 1 -- $5-million (U.S.) for 10-per-cent participating interest and 50-per-cent zinc offtake

Upon deposit of $5-million (U.S.) at the commencement of phase 1, Dowa will be granted: (i) a 10-per-cent participating interest in the property; and (ii) the right to purchase 50 per cent of Galway's zinc concentrate production from the property. Phase 1 is expected to run for approximately six months, subject to seasonal constraints. Infill drilling is currently expected to commence in July, 2026. Unused phase 1 funds will roll forward into later phases but will not reduce required financing amounts.

Phase 2 -- $10-million (U.S.) for additional 20-per-cent participating interest (30-per-cent total) and 75-per-cent zinc offtake

Upon successful completion of phase 1 and the negotiation and execution of a joint venture agreement and an offtake agreement, Dowa may elect to proceed with phase 2 by financing an additional $10-million (U.S.). Upon execution of phase 2 documents, Galway and Dowa will form a joint venture to advance Estrades, with Galway Metals initially acting as operator of the property.

Galway Metals will be entitled to charge a 6-per-cent management fee on approved expenditures until all phase 2 funds are disbursed.

Phase 2 financing would grant Dowa an additional 20-per-cent interest (for 30-per-cent total) and increases zinc offtake rights to 75 per cent. Phase 2 will focus on infill drilling, resource confidence upgrades and exploration drilling west of the Main zone.

Phase 3 -- $10-million (U.S.) for additional 15-per-cent participating interest (total 45 per cent) and 100-per-cent zinc offtake

Upon successful completion of phase 2, Dowa may elect to finance an additional $10-million (U.S.) toward a phase 3 program focused on feasibility study preparation. Upon financing, Dowa would earn an additional 15-per-cent interest, for a total 45-per-cent participating interest, and obtain 100-per-cent-zinc-concentrate offtake rights.

Review by qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Stephen Poitras, PGeo, manager for Estrades, a qualified person as defined by National Instrument 43-101. Mr. Poitras certifies that this news release fairly and accurately reflects the technical information and data presented. Galway Metals conducts its exploration activities in accordance with Canadian Institute of Mining, Metallurgy and Petroleum best practices guidelines.

About Galway Metals Inc.

Galway Metals is a Canadian mineral exploration and development company focused on advancing its 100-per-cent-owned, high-grade, open-pittable flagship Clarence Stream gold project in southwestern New Brunswick. Clarence Stream is an emerging gold district with an exploration strike length of approximately 65 kilometres, and the existing resource is open in virtually all directions. Galway Metals also has 100-per-cent ownership in the Estrades project, a former-producing, high-grade, gold-rich polymetallic volcanogenic massive sulphide mine in the northern Abitibi of western Quebec. Led by a management team with a proven record of creating shareholder value having sold Galway Resources for $340-million (U.S.), Galway Metals is focused on creating value for all its stakeholders.

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