Galway Metals' Estrades Project: A New Dawn for Gold and Zinc Exploration

Galway Metals Inc. (TSXV: GWM) has recently announced the filing of an independent technical report (the "Report") prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the updated Mineral Resource Estimate for its 100% owned Estrades Project ("Estrades") located in the northern Abitibi of Western Quebec. The updated resource estimates, effective as of November 5, 2024, reflect a significant increase in gold and zinc prices, as well as a dramatic improvement in gold recovery, which has significantly enhanced the project's economic potential.

The updated resource estimates show a substantial increase in Indicated Mineral Resources, with a 15% increase to 1,497,000 tonnes and a corresponding 80% increase in Inferred Mineral Resources to 2,199,000 tonnes. The contained metals have also seen a significant increase, with Indicated Mineral Resources growing by 5% to 543,051 AuEq oz and Inferred Mineral Resources growing by 79% to 520,430 AuEq oz. The average Indicated Mineral Resource grades remain high, with AuEq or ZnEq grades of 11.3 g/t or 20.8%, respectively, while Inferred Mineral Resource grades are also strong, at 7.4 g/t AuEq or 13.5% ZnEq.

The updated resource estimates reflect a 38% increase in gold prices, 28.6% increase in copper prices, 19.0% increase in silver prices, and a 13.0% increase in zinc prices since the previous resource estimate. The updated resource estimates indicate that the resource at Estrades has grown substantially and now contains 543,051 gold equivalent ounces (AuEq oz) of Indicated Mineral Resources grading 11.3g/t AuEq, plus 520,430 AuEq oz of Inferred Mineral Resources grading 7.4 g/t AuEq. From a zinc equivalent perspective, the Estrades deposit now contains 685 million ZnEq lb of Indicated Mineral Resources grading 20.8%, plus 656 million ZnEq lb of Inferred Mineral Resources grading 13.5%.

The updated resource estimates, combined with the metallurgical test work and scoping study, will be released in the fourth quarter of 2024. The updated resource estimates and metallurgical test work will be used to update the project's economic model and assess the project's potential for future development. The updated resource estimates, along with the metallurgical test work and scoping study, will provide a comprehensive understanding of the project's economic viability and potential for future development.

The updated resource estimates for the Estrades Project demonstrate the significant potential of the project, particularly with the rising gold and zinc prices. The updated resource estimates, combined with the metallurgical test work and scoping study, will provide valuable insights into the project's economic viability and potential for future development. Investors should closely monitor the progress of the Estrades Project and consider the potential opportunities that the updated resource estimates and metallurgical test work may present.