Mr. Robert Hinchcliffe reports

GALWAY METALS SETTLES CLAIM BY FORMER EMPLOYEE WITH CASH AND SHARE PAYMENTS

Galway Metals Inc. has reached a settlement agreement to resolve all outstanding litigation with respect to an action commenced by a former employee against the company, as disclosed in the company's financial statements. Under the terms of the agreement, Galway will pay a total of $800,000, comprising $500,000 in cash and $300,000 through the issuance of common shares in the capital of the company (such $300,000 share component, the "debt"). In settlement of the debt, the company proposes to issue 619,834 common shares in the capital of Galway at a deemed price of 48.4 cents per settlement share, subject to the acceptance of the TSX Venture Exchange.

The deemed price per settlement share is not less than the discounted market price of the company's common shares as at the date of this news release, and the shares for debt settlement will be completed in accordance with the policies of the TSX-V, including Policy 4.3 -- Shares for Debt.

All settlement shares issued pursuant to the shares for debt settlement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws and the policies of the TSX-V, and the certificates or direct registration.

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.

We seek Safe Harbor.