Mr. Robert Hinchcliffe reports

GALWAY METALS INTERSECTS 8.6 G/T GOLD OVER 15.0M INCLUDING 110.0 G/T OVER 1.0M AT SOUTHWEST DEPOSIT

Galway Metals Inc. has released results for nine diamond drill holes at the Southwest deposit in the company's 100-per-cent-owned flagship Clarence Stream high-grade gold project in New Brunswick, Canada. The Clarence Stream gold project hosts district-scale potential, with an approximately 65-kilometre strike length of highly prospective gold showings and anomalies; and a 2022 MRE (mineral resource estimate) of 12.4 Mt (million tonnes) at 2.3 grams per tonne Au indicated for 922,000 ounces, and 16.0 Mt at 2.6 g/t Au inferred for 1,334,000 oz gold from the National Instrument 43-101 technical report titled "Technical Report on the Clarence Stream Mineral Resource Project, New Brunswick, Canada" dated March 31, 2022, by SLR Consulting Ltd.

"Drilling at the Southwest Deposit continues to highlight the strong continuity of gold mineralization across the Clarence Stream project," stated Rob Hinchcliffe, president and chief executive officer of Galway Metals. "These results extend high-grade mineralization closer to surface and are expected to contribute to our upcoming updated mineral resource estimate scheduled for Q2 2026. With numerous holes still pending assays across the Southwest, North and South deposits, we anticipate a steady flow of results as we continue advancing Clarence Stream toward a larger and higher-confidence resource."

Highlights

• BL-308: 8.6 g/t Au over 15.0 metres, including 110.0 g/t Au over 1.0 m;
• BL-309: 1.8 g/t Au over 17.0 m, including 18.3 g/t over 1.0 m, starting 24.0 metres from surface;
• BL-310: 0.8 g/t Au over 26.0 m, starting 8.0 metres from surface;
• BL-269: 7.3 g/t Au over 2.0 m, including 14.1 g/t Au over 1.0 m.

Drilling continues to extend near-surface gold mineralization at Southwest deposit

The nine drill holes reported are in the southwestern portion of the Southwest deposit (Richard zone). Drilling was designed to fill gaps within existing resource pit shells and extend mineralization toward surface.

On Section 1, drill hole BL-308 returned 8.6 g/t Au over 15.0 m, including 110.0 g/t Au over 1.0 m, 50 vertical metres from surface, extending high-grade mineralization significantly closer to surface.

Farther northeast along strike, drill holes BL-309 and BL-310, located 110 m and 130 m from BL-308, intersected additional near-surface mineralization, including 1.8 g/t Au over 17.0 m and 0.8 g/t Au over 26.0 m, respectively. These intercepts are illustrated on Section 2, where mineralization begins within the first 25 metres from surface.

Another 230 m to the northeast, drill holes BL-268 and BL-269 intersected mineralization linking with intercepts farther north, returning 1.3 g/t Au over 3.0 m and 7.3 g/t Au over 2.0 m, respectively. A step-back hole is planned approximately 25 metres behind BL-268 to test the potential continuation of the steeper high-grade mineralization.

There are currently 37 drill holes from the Southwest deposit with pending assays, including 28 holes located near the drill results reported in this release. Additionally, 17 holes from the South deposit and 34 holes from the North deposit remain pending assays.

Geology and mineralization

The Clarence Stream deposits are characterized as intrusion-related, structurally controlled, quartz-vein hosted gold systems. Mineralization consists of quartz veins and quartz stockwork developed within brittle-ductile fault zones, accompanied by crushed and altered wall rock and veinlet material.

The mineralized systems occur in intrusive and metasedimentary rocks within high-strain zones controlled by regional fault systems. Mineralization is typically associated with pyrite, base-metal sulphides and stibnite, along with anomalous concentrations of bismuth, arsenic, 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 the Galway website.

Review by qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Jesse Fisher, PGeo, project manager for Clarence Stream and a qualified person as defined by National Instrument 43-101. Mr. Fisher certifies that this news release fairly and accurately reflects the technical information and data presented. Galway Metals conducts its exploration activities in accordance with Canadian Institute of Mining Best Practices Guidelines.

Quality control and reports

All core, chip/boulder samples and soil samples are assayed by Activation Laboratories, located at 41 Bittern St., Ancaster, Ont., Canada, Agat Laboratories, located at 5623 McAdam Rd., Mississauga, Ont., Canada, L4Z 1N9, and 35 General Aviation Rd., Timmins, Ont., P4P 7C3, and/or Swastika Laboratories situated in Swastika, Ont. All four labs have ISO/IEC 17025 accreditation. All core is under watch from the drill site to the core processing facility. Drill core is NQ size and sample intervals range from 0.5 metre to 1.5 metres in length. All samples are assayed for gold by fire assay, with gravimetric finish and other elements assayed using ICP. The company's QA/QC (quality assurance/quality control) program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at one per 20 samples. Approximately 5 per cent of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. Core recovery in the mineralized zones has averaged 99 per cent.

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-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-per-cent participating interest in the Estrades project, a former-producing high-grade, gold-rich polymetallic VMS (volcanogenic massive sulphide) mine in the northern Abitibi of Western Quebec. Dowa Metals & Mining Co. Ltd. holds a 10-per-cent participating interest pursuant to the previously announced option and joint venture term sheet under which Dowa may earn up to a 45-per-cent interest in the project. 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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