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Galway Metals Inc (3)
Symbol GWM
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Galway begins airborne geophysical program at Clarence

2026-04-14 15:59 ET - News Release

Mr. Robert Hinchcliffe reports

GALWAY LAUNCHES DISTRICT-SCALE GEOPHYSICAL PROGRAM TO ACCELERATE GOLD DISCOVERY AT CLARENCE STREAM

Galway Metals Inc. has commenced a district-scale airborne geophysical survey program at its 100-per-cent-owned Clarence Stream high-grade gold project in New Brunswick, Canada.

Rob Hinchcliffe, president and chief executive officer of Galway Metals, stated: "This program is an important step as we continue to advance Clarence Stream on multiple fronts. With four drills currently turning, a resource update expected in the near term and a PEA [preliminary economic assessment] planned for later this year, we are building strong momentum across the project. This work will help us better understand the system and support our efforts to identify additional opportunities as we continue to grow Clarence Stream."

Program highlights:

  • Resolve EM (electromagnetic) survey: designed to improve near-surface targeting by covering known deposits and extending across the prospective structural trend to identify both extensions of mineralization and new deposit-scale targets when integrated with existing VLF (very-low-frequency) coverage;
  • HeliTEM EM survey: focused over known deposits to better understand the system at depth and identify potential depth extensions of mineralization;
  • District-scale coverage: systematic geophysical coverage across the project to support identification of new targets along strike and beyond currently defined zones;
  • Targeting strategy: surveys will define the geophysical signature of known deposits and apply this understanding across the broader trend to generate new exploration targets.

Jason Flight, vice-president of exploration of Galway Metals, stated: "This program builds on the extensive geophysical work completed to date at Clarence Stream and represents the next step in advancing the project at a district scale. By integrating new high-resolution magnetics with both shallow and deep-penetrating EM surveys, we are filling key gaps in coverage, particularly around existing resource areas, while expanding geophysics across the broader 65-kilometre prospective trend, including the Eastern block.

"Importantly, the deeper-penetrating HeliTEM survey will allow us to better understand the system at depth beneath known deposits, while the Resolve survey is designed to enhance near-surface targeting by identifying extensions of mineralization and new deposit-scale anomalies. This integrated approach positions us to expand existing zones and generate a strong pipeline of high-quality targets across the district."

The airborne geophysical surveys are being conducted by Xcalibur Smart Mapping.

This approach builds on prior geophysical work over the Southwest deposit, where similar surveys successfully mapped the footprint of mineralization as defined by drilling. The current program is designed to extend this work across the broader project by systematically surveying known deposits to establish a geophysical signature of mineralization. These signatures will be used to define the geophysical response of known deposits and refine our targeting approach, which can then be applied across the 65-kilometre prospective structural corridor.

The Resolve survey is expected to improve near-surface targeting by refining shallow electromagnetic anomalies and enhancing structural resolution, while the deeper-penetrating HeliTEM survey is designed to map structural architecture at depth and identify potential extensions of mineralization beneath known deposits and along untested corridors. By integrating these data sets, the company aims to transition from localized targeting to a predictive, district-scale exploration model and significantly expand its pipeline of high-quality drill targets. This integrated approach provides a systematic framework for expanding mineralization both along strike and at depth across the Clarence Stream gold belt.

Geology and mineralization

Gold-antimony mineralization at Clarence Stream is structurally controlled and associated with quartz veins and quartz stockwork developed within brittle-ductile fault zones hosted in both intrusive and metasedimentary rocks. Mineralization is associated with pyrite, base metal sulphides and stibnite, along with anomalous concentrations of bismuth, arsenic, antimony and tungsten.

Alteration within host rocks is typically confined to a few metres surrounding quartz veins and is characterized primarily by sericitization and chloritization.

A more detailed description of the Clarence Stream geology and mineralization is available on Galway Metals' website.

Review by qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Jesse Fisher, PGeo, project manager for Clarence Stream, and Jason Flight, PGeo, vice-president of exploration, both qualified persons as defined by National Instrument 43-101. Mr. Fisher and Mr. Flight certify that this news release fairly and accurately reflects the technical information and data presented. Galway Metals conducts its exploration activities in accordance with CIM (Canadian Institute of Mining, Metallurgy and Petroleum) best-practice 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 widths of up to 28 kilometres in certain areas. Galway Metals holds a 90-per-cent participating interest in the Estrades project, a former-producing high-grade, gold-rich polymetallic VMS (volcanogenic massive sulphide) mine in the northern Abitibi of western Quebec. Dowa Metals & Mining Co. Ltd. holds a 10-per-cent participating interest pursuant to the previously announced option and joint venture term sheet, under which Dowa may earn up to a 45-per-cent interest in the project. 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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