Galway Metals Inc V.GWM

Galway Metals Clarence Stream Resource Update

[Betteryear2]

Additional Underground Gold Resource

Indicated: 36,000 Ounces at 4.10 g/t Au (in 0.3M tonnes)

Inferred: 603,000 Ounces at 4.50 g/t Au (in 4.2M tonnes)

TORONTO, ON / ACCESSWIRE / April 25, 2022 / Galway Metals Inc. (TSX-V:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to report an updated Mineral Resource statement disclosed in accordance with NI43-101 standards, prepared by SLR Consulting (Canada) Ltd. on its Clarence Stream property located in southwest New Brunswick, Canada. The previous resource was disclosed 4½ years ago in September 2017. Since then, 106,272 metres of drilling in 337 holes were undertaken in the new SW Deposit that have contributed to the significant increases in the resource totals. Galway's objectives over the past 4 years were to make multiple discoveries as exploration moved outward from the North and South Zones, where 100% of the prior resource was located, to demonstrate that Clarence Stream represents an important new gold district in North America. Galway is pleased to note that these objectives have been successfully met. It's also important to note that all Zones included in the resource update are open for significant expansion. Today's announcement simply represents a snapshot in time.

Galway Metals Clarence Stream Resource Update Indicated: 922,000 oz at 2.31 g/t Au, up 136% Inferred: 1,334,000 oz at 2.60 g/t Au, up 382%

[jojo57]

They delayed it for almpst a year, and this is all the resource. I can't believe my eyes.

[Tslayer]

JoJo. Can you expand on your post please? I ony hold a few mining stocks but have a holding in Galway. Not familiar with a resource report. You don't sound enthusastic with this report- "I can't believe my eyes". What are your concerns with the report and Galway?

[leverage1971]

RE tend to be conservative because you add cutoffs for grade and length. The other issue is they represent the first time a series of drill program results leave the inferred category and move up to indicated which is still below "reserves." Today's news is telling you they have a million oz in indicated and about 1.3 million in inferred. You move inferred to indicated by infill

[oldtimer42]

Astute post leverage 1971, you have been here before as have I, certainly nothing negative in this release. Indicated and inferred is well over 2 million ounces with good upside potential. Patience will be rewarded.

[jojo57]

Just expected more OZ.'s seeings their excuse for all the delays was extra drill results being added to improve resource. The delays in my opinion has had a greater negative impact on the share price.. The extra drilling added to resource really. Just wasn't worth losing credibility by the delays in my opinion.

[leverage1971]

Jojo really what people would want is for them to say 2 million indicated oz ... that would have made this crackle and pop. Instead you got 1 million with the promise of a million more that satisfy the regulations for indicated up from inferred. It's about time, they have connected the zones... it's 2.5g/t stuff and so it will prove up but they have to spend time and $$ to

[starboy101]

If you paid 47 cents for this POS then you may soon be one of those frustrated investors,  as I predict that 25 cents may soon be in the cards. So I would suggest that you and anyone else that is holding this POS get on that Midnight Train to Georgia, sell, move on and never look back. Lick you wounds and put your cash to work elsewhere. As I believe that there are just so many better

[jojo57]

What I feel has hurt investors more than the report, is their failing to deliver the resource update when promised. Five times they made promises, and failed to deliver. RVG has a three million oz resource, less than half the shares, and began their exploration at the same time as GWM. The difference, they didn't raise funds when their share price was low, and they delivered as promised.Yes