Mr. Robert Hinchcliffe reports

GALWAY METALS ADVANCES ESTRADES PROJECT AS BBA E&C INC. TRANSITIONS INTERNAL SCOPING STUDY TO PEA

Galway Metals Inc. has commenced a preliminary economic assessment (the PEA) at Galway's Estrades polymetallic VMS (volcanogenic massive sulphide) project located in the northern Abitibi of Western Quebec, Canada. The 100-per-cent-owned Estrades project is a high-grade gold and zinc deposit. Historically, Breakwater Resources Ltd. spent $20-million developing the precious-metal-rich VMS deposit which was previously mined via a 200-metre-deep ramp with production in 1990 to 1991.

Rob Hinchcliffe, president and chief executive officer of Galway, said: "Galway has re-engaged BBA E&C Inc., who previously completed an internal scoping study on Estrades to move forward with a PEA and finalize the report for the fourth quarter 2025. The primary metal that will make up the bulk of the economics for this project is gold, which has been continuing to reach new record prices." He continues: "A positive PEA will help Galway's efforts to move the Estrades project forward as we look to bring a third party capital to minimize dilution for existing share holders. Clarence Stream remains Galway's flagship gold project with two drill rigs currently turning."

High-grade gold and zinc deposit

The preliminary economic assessment, which will be completed by BBA E&C Inc. will incorporate the recent metallurgical recovery improvements and the 2024 MRE of 1.75 million tonnes of 2.86 g/t Au, 5.76 per cent Zn, 0.97 per cent Cu, 94.4 g/t Ag and 0.48 per cent Pb indicated, and 2.68 million tonnes of 1.81 g/t Au, 4.75 per cent Zn, 0.86 per cent Cu, 77.4 g/t Ag and 0.28 per cent Pb inferred resource from the National Instrument 43-101 technical report titled "Technical Report Estrades Project, Quebec, Canada" dated Nov. 5, 2024, by SLR Consulting Ltd.

Metallurgical progress and new resource estimate

For information related to recent metallurgical improvements and the highlights of the new mineral resource estimate, please see the press release titled "Dramatic Increase in Gold Recovery Significantly Improved the Business Options for Past-Producing High-Grade Gold Zinc Estrades Mine - Scoping Study to be Initiated" dated Jan 27, 2025.

Reviewed by qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Kamil Khobzi, PEng, a qualified person as defined by National Instrument 43-101 and certifies that this news release fairly and accurately reflects the technical information and data presented. Mr. Khobzi is independent of the company and is a professional engineer registered in Quebec.

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-pit flagship Clarence Stream gold project in southwest 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 VMS 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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