Galena Capital Corp V.FYI

News was on SEDAR

[bjhernon]

Form 51–102F3

Material Change Report

Section 7.1 of National Instrument 51-102

Continuous Disclosure Obligations

Item 1 Name and Address of Company

Galena Capital Corp.

Suite 880 - 609 Granville Street

PO Box 10321

Vancouver BC V7Y 1G5

Item 2 Dates of Material Change

July 4, 2011.

Item 3 News Release

The Company filed a news release on July 4, 2011 with the TSX Venture Exchange and the British Columbia and Alberta Securities Commission on SEDAR. The Company disseminated the news release through Canada Stockwatch and Market Newswire on July 4, 2011.

Item 4 Summary of Material Change

Galena Capital Corp. (TSX-V: FYI) (“Galena” or the “Company”) passes on Bitumen

Opportunity.

Item 5 Full Description of Material Change

See attached news release.

Item 6 Reliance on subsection 7.1(2) or (3) of National Instrument 51–102

Not Applicable.

Item 7 Omitted Information

Not Applicable.

Item 8 Executive Officer

Michael Leahy, Vice-President of Communications

Tel. No. [phone].

Item 9 Date of Report

July 4, 2011.

FOR IMMEDIATE RELEASE TSX.V:FYI

Galena Passes on Bitumen Opportunity

Vancouver, BC, July 4, 2011 – Galena Capital Corp. (TSXV:FYI) (the “Company” or “Galena”), a TSX Venture Exchange listed company, has decided to suspend the proposed joint venture with Imperial Petroleum Inc.

Galena management feels that Imperial’s innovative bitumen technology is not sufficiently proven at this time to justify investment by the Company. Galena believes that it is best for the company and the shareholders to defer a commitment until the technology meets certain expectations.
The clarifications provided by Imperial regarding Galena’s concerns about the demonstration test made it clear to Galena management that any commitments made by the company must be postponed until the process becomes more established. “We feel our investors need clarity on this opportunity so the decision today is not to continue down this road as there remains to be more questions than answers” states VP of Communications, Michael Leahy”.

On Behalf of the Board of Directors of Galena Capital Corp.

“Michael Leahy”

Michael Leahy

VP of Communications

Galena Capital Corp.

Tel: (604) 683 – 7588

Fax: (604) 683 – 7589

[e-mail]

www.galenacorp.com

[LoserLoserLoser]

Crash down on big volume. This loser is amazing. Only 2M Market cap reflects poor expectations, possible dilution and share consolidation. Very dissapointing for all who are holding this crap. Only one seller today. I hope it is not some insider dumping. We will see it later at the end of the day in insider report.

[LoserLoserLoser]

I put a bid @0.02. This should be a bottom for a while. I cant imagine that share price will go significant bellow 2M Mkt cap. So it is worth to take a risk for 100% return in 1 year time frame. I cant ignore also that fact that Johannson bought 770K shares @0.035 in the open market. So only big risk here is share consolidation and dilution to rise capital for new projects. Hard to imagine that

[LoserLoserLoser]

Maybe i was a bit harsh in my previous 2 posts. So excuse me all. I was a bit annoyed about share performance today. I think president Arni Johannson is very experienced guy with many business connections. He has 20 years of experience in the Canadian capital markets. He also serves as a director for a number of public companies including Mega Uranium connected with Pinetree. I like Mega Uranium