Galway Metals Inc. reported drill results from an on-going drill program focussed immediately to the north of the newly upgraded Clarence Stream Mineral Resource. The new results expand two zones of mineralization located within a large triangular shaped area (the "Triangle Area") adjacent to, and within approximately 1km directly to the north of the SW Deposit. This is significant because it could add additional shallow resources close to the edge of the currently planned open pits envisaged in the resource model, further growing what is already one of Canada's largest high-grade, open-pittable gold projects.

Galway released an updated Mineral Resource for Clarence Stream in an April 25, 2022 press release; see Tables 1 and 2 below. This represented a more than doubling and quadrupling, respectively, of Measured and Indicated, and Inferred gold resources at Clarence Stream, consisting of the following resource estimates: Indicated open pit resources of 886,000 ounces at 2.27 g/t Au, plus. Inferred open pit resources 731,000 ounces at 1.93 g/t Au, plus.

Indicated underground resources of 36,000 ounces at 4.1 g/t Au, plus. Inferred underground resources of 603,000 ounces at 4.5 g/t Au. The Triangle Area represents a large target relative to the entire size of the SW Deposit resource area.

The SW Deposit already represents by far the largest component of Galway's Clarence Stream Resource at 55% and 65% for Indicated and Inferred, respectively. Drilling in two zones (Stewart and Richard North) within the Triangle Area has begun to demonstrate scope for expansion of the resource.