Mr. Robert Hinchcliffe reports

GALWAY METALS COMMENCES 5,000-METRE DRILL PROGRAM AT ESTRADES FUNDED BY DOWA

Two diamond drills have been mobilized, and drilling by Galway Metals Inc. has commenced at the Estrades project in the northern Abitibi region of western Quebec. The approximately 5,000-metre program forms part of the phase 1 work program under the option and joint venture term sheet with Dowa Metals & Mining Co. Ltd., announced in January, 2026. The Estrades project is a high-grade, gold- and zinc-rich volcanic massive sulphide deposit. Historically, Breakwater Resources Ltd. invested approximately $20-million developing the precious-metal-rich deposit, which was previously mined through a 200-metre-deep ramp with production in 1990 and 1991. Galway released a positive preliminary economic assessment on the Estrades project earlier this year.

"We have just finished the third drill hole of this campaign, and we are very optimistic about Estrades's prospects moving forward. This program is an important first field step under our agreement with Dowa. The drilling is designed to provide representative material for the next phase of metallurgical work while adding useful geological information across the Main, Central and East zones. Together, this work will help us continue evaluating the development pathways identified in the recent PEA," cited Robert Hinchcliffe, president and chief executive officer of Galway Metals, adding: "We are very pleased to partner with one of the world's most respected integrated mining and metals companies. Dowa brings deep expertise in zinc concentrate processing, technical evaluation and project development. Their commitment to funding up to $25-million (U.S.) validates the quality and potential of Estrades, and we look forward to working collaboratively to advance the project toward a production decision."

Estrades past producer

The Estrades project is a series of gold, zinc, copper, lead and silver-rich massive sulphide lenses, and is located about 95 kilometres north-northeast of La Sarre, Que. Breakwater Resources mined the Estrades deposit between July, 1990, and May, 1991. Breakwater used a decline to the 190-metre level, and, then, it developed a network of ramp-connected levels. The Estrades ore was shipped and then processed at the Matagami mill approximately 135 kilometres away. The Estrades deposit is currently envisioned as an underground mining operation, with additional regional and local exploration prospects also worth noting.

2026 drill program and metallurgical testwork

The current program is focused on obtaining fresh mineralized material suitable for metallurgical testwork. Drill holes are planned across the Main, Central and East zones to provide samples representative of the principal mineralization styles and grade ranges at Estrades. SGS Canada will conduct the planned testwork at its Burnaby facility. Results will be incorporated into Galway and Dowa's continuing evaluation of the project.

Galway has completed 52,281 metres of drilling at Estrades since acquiring the project in 2016. The additional drilling from the current program is expected to improve local geological confidence and provide information that may support future resource, engineering and development studies.

Recommendations and project optimization

Galway Metals is encouraged by the results of the Estrades PEA and looks forward to advancing the project toward a viable, cash-flow-generating mining operation.

A few of the initiatives as it moves forward will include the following:

• An environmental baseline study is expected to begin in the second quarter of 2026, and work will continue on its community outreach program.
• Work will continue toward upgrading the mineral resource through drilling at depth and by testing the lateral extent of the deposit.
• Metallurgical studies will continue with the goal of increasing metal recoveries.

Review by qualified person

Stephen Poitras, PGeo, project manager for Galway Metals, is the qualified person who supervised the preparation of the scientific and technical disclosure in this news release on behalf of Galway Metals.

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-pittable flagship Clarence Stream gold project in southwestern 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 mine in the northern Abitibi of western Quebec. Dowa holds a 10-per-cent participating interest pursuant to the previously announced option and joint venture term sheet under which Dowa may earn an up-to-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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