Encouraging Results At California Gold Project

 

TORONTO, ON - Galway Resources Ltd. reported results of additional channel samples collected from the California gold project. The channel samples were collected during the recently completed sampling program in and around the historic Pie de Gallo open pit. A total of 149 channel samples were collected from the three levels of the El Dorado mine. Sampling was done across veins and structures. Average grade for all samples is 13.3 grams per tonne gold (g/t Au). Gold values range from trace to 516.5 g/t (16.6 ounces per tonne).

"We are extremely pleased with the high-grade gold and silver samples being collected in the El Dorado area," commented Robert Hinchcliffe, CEO of Galway Resources. "The results are consistent with preliminary samples collected last year and strongly suggest that the gold mineralization in the Pie de Gallo open pit extends to the southwest. Equally important, we have taken proactive steps to get the drilling program back on track, the details of which are provided below."

Highlights include:

 

      40.7 g/t Au and 752 g/t silver (Ag) in 135 square meters of

       silicified, brecciated, quartz vein stockwork (27 samples, 2.0m

       average channel sample width, structure is approximately 19m long by

       7.1m wide).

      29.0 g/t Au and 260 g/t Ag over a strike length of 8.9 meters (4

       channel samples, 1.8m average channel sample width).

      8.8 g/t Au and 72 g/t Ag over a strike length of 15.0 meters

       (8 channel samples, 2.0m average channel sample width).

      Silver values ranged from trace to 3,980 g/t (128 ounces per ton).

 

California Drilling Update

In response to lower than expected drill production, Galway has taken proactive measures. The Company has engaged another drilling company with a man-portable drill which is on-site and drilling with much improved production. In addition, Galway has entered into an agreement with CABO, an international drilling company, to drill up to 30,000 meters in the California district. CABO is mobilizing the first man-portable drill to California. A second drill will be mobilized later in. To date, five holes have been completed for a total of 1,200 meters in the Pie De Gallo pit. Assays are pending.

The company’s address is 360 Bay Street, Suite 500, Toronto, ON M5H 2V6, 800-475-2412, email: [email protected].