Galway Metals Reports Updated Clarence Stream Mineral Resource Estimate

Original source on lesechos.fr

Open Pit Constrained Gold Resource

Indicated: 1.36M Au Ounces at 1.58g/t (in 26.68M Tonnes)

Inferred: 1.02M Au Ounces at 1.26g/t (in 25.17M Tonnes)

Underground Constrained Gold Resource

Indicated: 0.06M Au Ounces at 3.60g/t (in 0.52M Tonnes)

Inferred: 0.27M Au Ounces at 2.50g/t (in 3.37M Tonnes)

TORONTO, ON / ACCESS Newswire / July 13, 2026 / Galway Metals Inc. (TSXV:GWM)(OTCQB:GAYMF) (the "Company" or "Galway") announced today an updated Mineral Resource Estimate ("MRE") for its 100%-owned Clarence Stream Gold Project in southwest New Brunswick. The updated MRE reports Indicated Mineral Resources of 27.2 million tonnes grading 1.62 g/t Au containing 1.42 million ounces of gold and Inferred Mineral Resources of 28.5 million tonnes grading 1.40 g/t Au containing 1.29 million ounces of gold. The updated estimate also includes approximately 19,500 tonnes of contained antimony in the Indicated category and 3,100 tonnes in the Inferred category, representing increases of approximately 103% and 45%, respectively, compared to the 2022 Mineral Resource Estimate¹.

"This updated Mineral Resource Estimate marks a significant milestone for the Clarence Stream Project," stated Robert Hinchcliffe, President and CEO of Galway Metals. "The 20% increase in total contained gold, together with the 54% increase in Indicated gold ounces, provides a substantially stronger foundation for the Project. We are extremely happy with our new resource estimate and look forward to an exciting 2026.

"Approximately half of our contained Indicated gold ounces occur at grades above 3.0 g/t Au (see Table 2.0 below), underscoring the quality of the updated resource and its potential to support future development. Most importantly, the North, South and Southwest Deposits remain open for expansion through ongoing drilling, while our broader 65-kilometre Clarence Stream district continues to provide significant discovery potential."

"With four drill rigs currently operating as part of our planned 40,000-metre 2026 drill program, Galway is well positioned to continue expanding and upgrading the Mineral Resource, make new discoveries across our 65-kilometre district, and advance Clarence Stream through future economic studies.

Notably, the next milestone for Clarence Stream is the Preliminary Economic Assessment (PEA). We are currently reviewing proposals for this next step."

¹ For complete details of the previous resource, refer to: "Technical Report on the Clarence Stream Mineral Resource Project, New Brunswick, Canada" dated March 31, 2022, prepared by SLR Consulting Ltd.

Table 1.0: Summary of Mineral Resources as of May 29, 2026

Mining Method	Deposit	Category	Tonnage (‘000 t)	Grade		Contained Metal
Mining Method	Deposit	Category	Tonnage (‘000 t)	(g/t Au)	(ppm Sb)	(‘000 oz Au)	(t Sb)
Open Pit	North	Indicated	2,131	1.83	4,519	125	9,600
	North	Inferred	2,562	2.16	727	178	1,900
	South	Indicated	10,920	1.72	847	604	9,200
	South	Inferred	879	1.69	416	48	400
	Southwest	Indicated	13,631	1.43	17	627	200
	Southwest	Inferred	21,729	1.13	14	791	300
	Sub-totals, Open Pit	Indicated	26,682	1.58	716	1,356	19,000
	Sub-totals, Open Pit	Inferred	25,170	1.26	100	1,017	2,500
Underground	North	Indicated	0	0	0	0	0
	North	Inferred	0	0	0	0	0
	South	Indicated	519	3.62	718	60	400
	South	Inferred	787	3.37	637	85	500
	Southwest	Indicated	0	0	0	0	0
	Southwest	Inferred	2,581	2.24	14	186	37
	Sub-totals, Underground	Indicated	519	3.60	719	60	400
	Sub-totals, Underground	Inferred	3,368	2.50	160	271	500
Open Pit + Underground	Grand Total	Indicated	27,201	1.62	716	1,416	19,500
		Inferred	28,538	1.40	107	1,288	3,100
Notes: 1. CIM (2014) definitions were followed for Mineral Resources. 2. Mineral Resources are estimated at a cut-off grade of $31/t NSR and $171/t NSR for open pit and underground, respectively. 3. Mineral Resources are estimated using a long-term gold price of US$3,250 per ounce, a long-term antimony price of US$29,000/t, and a US$/C$ exchange rate of 1.35. 4. Minimum mining widths of approximately three metres were used for the open pit portion of the North and South Zone deposits. A minimum mining width of approximately 1.5 m was used for the underground portion of the South Zone deposit. A minimum width of approximately two metres was used for the Southwest deposit. 5. Bulk density is 2.74 t/m³ for the North Zone mineralization, is 2.81 t/m³ for the South Zone mineralization, and 2.73 t/m³ for the Southwest Deposit mineralization. The bulk densities for the Southwest Zone mineralization range from 2.39 t/m³ to 2.77 t/m³. 6. Mineral Resources are inclusive of Mineral Reserves. 7. There are no Mineral Reserves at Clarence Stream. 8. Open pit Mineral Resource statements are prepared using surfaces generated using the pseudoflow algorithm. 9. Underground Mineral Resource statements are prepared using three-dimensional shapes to outline volumes of continuous blocks which satisfy the cut-off grade and minimum width criteria. 10. Numbers may not add due to rounding. 11. Antimony contents are rounded to the nearest 100 tonnes.

Table 2.0: Distribution of Gold Contents by Gold Grade Bins at 3.0 g/t Au, 5.0 g/t Au and 10.0 g/t Au Threshold Values for the Combined Open-pit and Underground North Deposit, South Deposit and Southwest Deposit Resource.

Gold Ounces Above 3.0 g/t Au
Deposit	Indicated Mineral Resource (Au oz)	Tonnage ('000 t)	Inferred Mineral Resource (Au oz)	Tonnage ('000 t)
North	72,113	389	91,004	542
South	339,477	1,790	88,148	612
Southwest	293,469	1,161	382,923	2,024
Total	705,059	3,340	562,075	3,178
Gold Ounces Above 5.0 g/t Au
Deposit	Indicated Mineral Resource (Au oz)	Tonnage ('000 t)	Inferred Mineral Resource (Au oz)	Tonnage ('000 t)
North	46,827	188	51,321	218
South	222,353	840	30,232	145
Southwest	224,285	598	242,888	879
Total	493,465	1,626	324,441	1,242
Gold Ounces Above 10.0 g/t Au
Deposit	Indicated Mineral Resource (Au oz)	Tonnage ('000 t)	Inferred Mineral Resource (Au oz)	Tonnage ('000 t)
North	12,751	29	9,389	23
South	80,822	183	616	2
Southwest	143,047	229	94,895	199