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TORONTO, ON / ACCESS Newswire / May 28, 2026 / Galway Metals Inc. (TSXV:GWM,OTC:GAYMF)(OTCQB:GAYMF) (the "Company" or "Galway") is pleased to announce preliminary results from its 2026 district-scale airborne geophysical program at the Company's 100%-owned Clarence Stream Gold Project in southwest New Brunswick. The HeliTEM, Resolve 5, and magnetic surveys have enhanced Galway's understanding of the geological structures controlling gold mineralization and identified a compelling exploration target corridor between the South and Southwest deposits. Preliminary interpretation has identified a strong conductive graphitic horizon associated with known gold mineralization that provides an important regional marker for tracing key structural trends, while also highlighting additional conductive features, structural breaks, and potential offsets of known mineralized trends that may represent future drill targets across the broader Clarence Stream gold system.
Rob Hinchcliffe, President and CEO of Galway Metals, commented: "Our first hole into the South-Limb Target Trend has now been completed and encountered the geology we were hoping to see, including multiple quartz veins with visually identified arsenopyrite and alteration consistent with our exploration model. This is an encouraging start as we test one of the most compelling new exploration targets identified through our 2026 district-scale geophysical program. As shown in Figure 1, the South-Limb Target Trend consists of an interpreted 6-kilometer corridor located between the South and Southwest deposits, Galway's two largest known gold deposits, and supports our view that Clarence Stream has significant room to grow. Core has been logged and sampled, and we look forward to updating shareholders when assay results are received."
Program Highlights:
Preliminary airborne geophysics supports the interpretation that the South and Southwest deposits may occur along opposing limbs of a regional-scale fold structure.
The known deposits and interpreted target corridor define more than 6 kilometres of prospective strike length between the two deposits.
A conductive graphitic horizon provides a mappable regional marker horizon, supporting Galway's evolving structural interpretation of gold mineralization at Clarence Stream.
Initial drilling of the South-Limb Target Trend has commenced, with core logging and sampling underway and assays pending.
Ongoing interpretation and integration of the geophysical dataset is expected to generate additional priority drill targets across the Clarence Stream Project.
Figure 1: Preliminary HeliTEM conductivity map highlighting the newly defined South-Limb Target Trend between the South and Southwest deposits. The 6 km target corridor is interpreted to occur along the southern limb of a regional-scale fold system and represents a priority area for follow-up drilling.
Initial Drilling of South-Limb Target Trend
Galway has commenced drilling along the newly interpreted South-Limb Target Trend, a priority target generated from the preliminary airborne geophysical interpretation. The target area lies between the South and Southwest deposits and is interpreted to represent a prospective structural corridor associated with the broader Clarence Stream gold system.
The first hole in the South-Limb Target Trend was drilled near the midpoint of the interpreted structural corridor, completed to a depth of 440 m, and encountered the anticipated geological sequence, including conglomerate, hydrothermal alteration, and swarms of quartz veins with sulphide mineralization visually identified as arsenopyrite. Quartz-vein swarms were observed at several locations downhole, including at approximately 197 m and 330 m. Core has been logged and sampled and assays are pending (Figure 3).
The Company cautions that visual observations of quartz veining, alteration and sulphide mineralization are preliminary in nature and are not necessarily indicative of gold grade or economic mineralization. Assay results are required to determine the presence, grade and significance of gold mineralization, and will be reported once received, reviewed, and interpreted.
Ongoing Geophysical Interpretation
In addition to the South-Limb Target Trend, the preliminary airborne geophysical interpretation has identified numerous conductive responses, structural breaks, and potential offsets of known mineralized trends across the survey area that may represent additional exploration opportunities.
Galway's geophysical consultants continue to refine and interpret the preliminary dataset through additional processing and integration with drilling, geology, soil geochemistry, and known mineralized trends. As interpretation advances, Galway expects to prioritize additional drill-ready targets across the Clarence Stream Project.
The preliminary results are supporting Galway's evolving geological and structural understanding of the Clarence Stream gold system and are expected to enhance targeting across the Project's approximately 65-kilometre prospective trend.
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, and 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 at www.galwaymetalsinc.com.
Review by Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Jesse Fisher, P.Geo., Project Manager for Clarence Stream, and Jason Flight, P.Geo., 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 Best Practice Guidelines.
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing its 100%-owned, high-grade, open-pitable 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 widths of up to 28 kilometres in certain areas. Galway Metals holds a 90% participating interest in the Estrades Project, a former producing high-grade, gold-rich polymetallic VMS mine in the northern Abitibi of western Québec. DOWA METALS & MINING CO., LTD. ("DOWA") holds a 10% participating interest pursuant to the previously announced Option and Joint Venture Term Sheet under which DOWA may earn up to a 45% interest in the Project. Led by a management team with a proven track-record of creating shareholder value having sold Galway Resources for US$340 million, Galway Metals is focused on creating value for all its stakeholders.
For additional Information on Galway Metals Inc., Please contact:
Robert Hinchcliffe President & Chief Executive Officer
Telephone: 1-800-771-0680
Email: info@galwaymetalsinc.com
Website: www.galwaymetalsinc.com
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Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements" and "forward-looking information" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, information with respect to the OTCQB listing, DTC eligibility, and broadening U.S. institutional and retail investors.
Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in economic conditions or financial markets, political and competitive developments, operation or exploration difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development, and those risks set out in the Company's public documents filed on SEDAR+ at sedarplus.ca. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Galway Metals Inc.
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