Galway Resources - Faktenthread - 500 Beiträge pro Seite

[apotheker78]

Einige wichtige Informationen über das Unternehmen GalwayResources werden auf folgenden Seiten dargestellt:
Bitte ausschliesslich für FAKTEN nutzen!!!


Zum Unternehmen:

- Galway hatt sich im Gebiet der California-Vetas- Surata Region in Kolumbien über 1900 hektar Land gesichert.
- die selektierten claims liegen direkt auf dem Trend der indizierten weltklasse Mineralisierungen von Ventana gold und Greystar Resources(La Mascota/La Bodega gold project)
- Galways Gebiet liegt in unmittelbarer nähe zu Ventana Gold, einem Milliardenunternehmen, welches derzeit in Übernahmeverhandlungen steht(2-EBX to bid for Ventana, values miner at C$1.5 bln vom 17.11.10)
- Ventana's Flaggschiff wird eine Gold-, Silber- und Kupfermine werden, die Infrastruktur ist hervorragend
- Galway hatt sich 360m lange und 10-30m breite "landslices" direkt in Ventanas La Mascota Gebiet gesichert.
- weitere Landpositionen sind Vetas Reina de Oro gold Mine, die grösste Mine der Region, welche bereits seit 400 Jahren aktiv ist, und bald mit neuester Explorationstechnik erforscht wird.
- 3 aktive Rigs, allein auf dem Gebiet in california, Vetas drilling soll im Q1/11 starten
- bisher 54 Holes vermeldet, die besten Ergebnisse bis dato
• NE:121.5 m of 2.7 g/t Au, including 79.5 m of 3.8 g/t Au,
including 1.5 m of 151 g/t Au from GWY 37
• Pie de Gallo: 89.0 m of 3.2 g/t Au, including 9.0 m of 23.1
g/t Au from GWY 10
• San Celestino: 11.0 m of 9.9 g/t Au including 3.3 m of
30.4 g/t Au from GWY 22 +
° GALWAY INTERCEPTS 19.5 METERS OF 11.0 G/T AND 5.0 METERS OF 26.0
- jedes der 54 publizierten Löcher hat Gold getroffen,ungewöhnliche Kontinuität
- laut NR vom 02.11.10: "...The structural zone that encompasses the main zone of
mineralization on Galway's properties is the same as that which hosts
Greystar's and Ventana's deposits, and is approximately 150-200 meters wide
and 1,000 meters long..."
- desweiteren:"...The Pie de Gallo pit was mined up to 500 years ago by the Spanish and the central area of the pit is thought to be the convergence point of two major structures that are both mineralized to the
northeast through Galway's NE Zone and into Ventana's property..."zeigt die Ähnlichkeit der Strukturen im Vergleich mit VENTANA
- bis heute ca. 20-25 holes pending aus der vielversprechendsten Region um GWY 10 und an der direkten Grenze zu ventana!!!!
- alle hits überhalb von 180m Tiefe, Potenzial für Open Pit Mining bleibt weiterhin gewahrt
- Mineralisierungen nehmen an Stärke zu, immer höhere grades auf längeren Abschnitten
- sehr gute Aussichten bei diesen kontinuierlichen Bohrerfolgen eine ökonomische Ressource zu definieren
- starke Parallelen zu den Bohrprogrammen bei Ventana, sie sitzen imöglicherweise auf demselben weltklasse Mineral-System
(siehe oben NR vom 02.11.)
- enormes Upside-Potenzial gegeben: Weniger als 20% der Projektfläche auf California getestet + Tiefe (>200m) unerforscht
- weltklasse management, im advisory board sind u.a. viele Branchengrößen vertreten, unter anderem neuzugang Mike Sutton, der u.a. bereits für Vast Gold und Kirkland Lake verantwortlich war.
- solide Cash-Lage, 6Mio USD Cash + etwa 7.5Mio USD durch auslaufende warrants
- Potential für eine Konsolidierung bzw Übernahme des gesamten Gebietes,d.h. GWY-GSL-VEN, dadurch synergien etc
dies wird besonders deutlich durch die strategische landsicherung galways in der la mascota liegenschaft von ventana
- in der gesamten region in Kolumbien wurden in den letzten Jahren mehr als 40 Mio unzen entdeckt, viele Regionen sind noch unerforscht, bzw. nur mit alten methoden erforscht worden----galway hatt first mover advantage besonders auf VETAS
- in dieser grössten mine der region sind weniger als 20% erforscht, laut galway ein Potential von über 1 Millon Unzen
- Sprott,einer der versiertesten long term Investoren in der Branche gilt, hält über 6 Mio shares
- sehr gute Projekt-Diversifikation: Kohle, Molybdän
- ein Kohle-JV mit dem drittgrößten Kohleproduzenten des Landes (Tochter von Xstrata)
- Marktkapitalisierung im Vergleich zu direkten/indirekten Nachbarn von Galway: STAND: 25.11, alle Angaben in CAD
-GWY: 82 Mio.
-VEN: 1340 Mio.
- GSL: 440 Mio.
- CNL: 890 Mio.

[babyborn09]

Antwort auf Beitrag Nr.: 40.588.232 von apotheker78 am 25.11.10 10:20:21

Hier mal 2 Karten wo man die Gebiete, gerade auch im Bezug auf die namhaften Nachbarn wie Ventan, Greystar und Continental Gold ersehen kann:

[babyborn09]

Antwort auf Beitrag Nr.: 40.588.232 von apotheker78 am 25.11.10 10:20:21

Stand heute, 25.11.2010 wurden bisher Bohrergebnisse für 54 Löcher auf dem Gebiet in California veröffentlicht.

Eine Wahnsinnstrefferquote von 100%, sprich jedes Loch ein Treffer im Bezug auf eine Mineralisierung.

Hier schaut selber:

[babyborn09]

Antwort auf Beitrag Nr.: 40.588.614 von babyborn09 am 25.11.10 10:57:43

Hier nochmal die bisherigen Bohrergebnisse ein wenig übersichtlicher und zusammengefasst pro Zone:

[babyborn09]

Antwort auf Beitrag Nr.: 40.588.540 von babyborn09 am 25.11.10 10:50:09

Die Nähe zu Ventana ist nicht zu übersehen:

[babyborn09]

Antwort auf Beitrag Nr.: 40.588.232 von apotheker78 am 25.11.10 10:20:21

Ein Überlick der Top Institutional Holders

[apotheker78]

hier mal die meldung zur möglichen übernahme von galway oder anderen nach dem bid takeover für ventana
Posted 11/19/2010 3:17 PM


"Northern Securities cites Greystar, Galway and CB Gold as potential targets post EBX bid for Ventana"


Read more:
http://community.nasdaq.com/News/2010-11/northern-securities…

[WissenMacht]

Ich spendiere mal die RT Charts

RT CAN



RT Frankfurt

[wulfgar999]

Antwort auf Beitrag Nr.: 40.589.518 von WissenMacht am 25.11.10 12:45:12

Die aktuelle Präsentation

http://www.galwayresources.com/i/pdf/Presentation.pdf

[babyborn09]

Antwort auf Beitrag Nr.: 40.589.559 von wulfgar999 am 25.11.10 12:51:18

diese Grafik wurde von Galway erweitert. Nun sieht man das dieses Landstück von Galway mitten im Ventana Gebiet 360m lang sind. Man sieht auch sehr schön das dieses voll im Mineralisierungstrend liegt!!!

[babyborn09]

Antwort auf Beitrag Nr.: 40.595.844 von babyborn09 am 26.11.10 10:41:11

Quelle: www.cnbc.com

[BRBa]

Quelle:http://www.24hgold.com/english/projectcompany.aspx?id=173345…

[Hoizzo]

GALWAY INTERCEPTS 24.0 METERS OF 8.4 G/T GOLD AND 96.0 METERS OF 1.6 G/T GOLD, AND REITERATES ITS FRACTIONAL LAND POSITION

TORONTO, Dec. 15, 2010 (Canada NewsWire via COMTEX News Network) --

Galway Resources Ltd. (GWY: TSX-V) is pleased to announce assay results from nine additional drill holes from its diamond drill exploration program on the Company's California property in Colombia. Six of the holes were drilled in the Pie de Gallo Zone, with the remaining three in the Northeast Zone. All holes contained significant intervals of gold mineralization. Moreover, all significant intervals are within 222 meters of surface (244.5 meters downhole), with the vast majority located at significantly shallower depths. A complete summary of drill hole assay results is provided in Table 1. All maps and sections associated with this press release can be found on Galway's website at www.galwayresources.com.

"Strong drill results continue to be returned from Galway's California exploration program. In light of Ventana Gold's recently released 3.5 million ounce resource estimate and the takeover bid for that company by EBX, a fund controlled by Mr. Eike Batista, Galway reiterates its ownership of a fractional land position within Ventana's concessions. We consider it very significant that these resources appear to directly border Galway's properties," cites Robert Hinchcliffe, President and CEO of Galway Resources.

Gold intercept highlights from the Pie de Gallo Zone are as follows:

GWY-62


-- 24.0 meters grading 8.4 grams per tonne gold (g/t Au),
including 1.5 meters
of 112.0 g/t Au
-- 4.5 meters grading 20.0 g/t Au, including 1.5 meters of 45.1
g/t Au
-- 21.0 meters grading 1.7 g/t Au, including 3.0 meters of 6.5 g/t
Au
-- 19.5 meters grading 1.2 g/t Au


GWY-60

-- 84.0 meters grading 1.2 g/t Au, including 3.0 meters of 10.6 g/t Au -- 31.5 meters grading 1.7 g/t Au, including 9.0 meters of 2.6 g/t Au -- 16.5 meters grading 1.5 g/t Au, including 6.0 meters of 2.9 g/t Au -- 9.5 meters grading 1.3 g/t Au

GWY-59

-- 25.0 meters grading 2.4 g/t Au and 227.7 g/t silver (Ag), including 3.0 meters of 11.6 g/t Au, 1,730.0 g/t Ag, 1.6% copper and 1.8% zinc -- 7.5 meters grading 3.1 g/t Au, including 1.5 meters of 8.3 g/t Au -- 18.0 meters grading 1.2 g/t Au

GWY-57

-- 16.5 meters grading 3.6 g/t Au, including 4.5 meters of 10.9 g/t Au -- 31.5 meters grading 1.9 g/t Au, including 1.5 meters of 12.3 g/t Au and also including 1.5 meters of 10.8 g/t Au

GWY-56

-- 10.5 meters grading 5.2 g/t Au, including 1.5 meters of 25.0 g/t Au -- 4.5 meters grading 9.1 g/t Au, including 1.5 meters of 22.9 g/t Au

GWY-63

-- 16.0 meters grading 3.3 g/t Au, including 4.0 meters of 11.0 g/t -- 8.0 meters grading 2.1 g/t Au and 77.1 g/t Ag

The six holes drilled in the Pie de Gallo Zone have extended the continuity of known parallel mineralized zones both vertically and laterally along structure. GWY-59 intersected zones near surface that correlate well down-dip with intersections in GWY-53 and GWY-54. The hole also penetrated a thicker zone at depth of 25.0 meters grading 2.4 g/t, that, paired with GWY-62 (24.0 meters grading 8.4 g/t Au), indicates continuity of mineralization over 40 meters along structure northeast of the mineralized intercept in GWY-10 (13.5 meters grading 15.6 g/t Au), and with GWY 54 (19.5 meters of 11.0 g/t). GWY-56, GWY-57 & GWY-60 passed through and appear to correlate along structure with the 89.0 meter gold bearing intercept in GWY-10, and these holes demonstrate mineralization from surface to a 200 meter depth. GWY-63 is interpreted to have intersected the southwest extension of the mineralization encountered in GWY-42 and GWY-43. Strike length of the mineralization identified in the Pie de Gallo Zone is approximately 270 meters and is open in all directions.

Gold intercept highlights from the Northeast Zone are as follows:

GWY-58

-- 96.0 meters grading 1.6 g/t Au, including 1.5 meters of 21.2 g/t Au

GWY-55

-- 70.0 meters grading 1.7 g/t Au, including 9.0 meters of 4.5 g/t Au -- 13.5 meters grading 2.3 g/t Au, including 1.5 meters of 16.3 g/t Au

GWY-61

-- 45.0 meters grading 0.9 g/t Au

A 0.5 g/t Au lower cutoff grade was applied in determining all intervals provided above. No upper cutoff grade was applied.

The three holes drilled in the Northeast Zone offset the intercept encountered in GWY-37 (121.5 meters grading 2.7 g/t Au). Intercepts were shallow, starting at 14.3 meters in GWY-61 and 38.5 meters in both GWY-55 and GWY-58. GWY-58 and GWY-61 penetrated the mineralized zone above GWY-37, extending the known mineralization in this section up structure to surface outcrops. The intercepts correlate well from the surface to a minimum depth of approximately 100 meters. Strike length of this mineralized zone in the Northeast Zone is approximately 100 meters and open in all directions. The intersections of Ventana's Hole 330 in La Mascota's SW Extension (91.2 meters of 1.31 g/t Au, 3.0 meters of 16.5 g/t Au and 3.5 meters of 9.4 g/t Au) may correlate with Galway's mineralization. Ventana indicates that the average resource grade in this area is similar to the main La Mascota zone.

Fractional Land On May 25, 2010, Galway reported that it had increased its land position in the California district of Colombia by 67%. Included were fractional concessions within Ventana Gold's land package. As reported previously, one of these fractional lands is 360 meters long and located within the main La Mascota structure. As Figure 1 shows, Ventana's mineral resource appears to have been constrained as Galway's land fractions limited Ventana's exploration of this highly prospective area. As Ventana is currently the subject of a takeover offer by EBX, a fund controlled by Mr. Eike Batista, Galway has chosen to reiterate its ownership interest in this land.

Mineralization Intercepts reported above and in previously reported drill holes are hosted by silicified zones, breccias, fracture zones and stockwork, typical of the district, which includes Greystar Resources' National Instrument 43-101 compliant resource, Angostura, and Ventana Gold's National Instrument 43-101 documented project, La Bodega. The principal geologic control in the California-Angostura District is a linear structural corridor that trends northeast-southwest and dips steeply to the north. Segments of this zone host the resources reported by both Greystar and Ventana, and Galway is exploring another segment along the same structural corridor. The mineralized Zone identified on Galway's properties is approximately 150-200 meters wide and 1,000 meters long, characterized by hydrothermal alteration and mineralization within various phases of pervasively altered intrusive porphyries. Precambrian gneiss is a less important host rock but well mineralized in places, especially near contacts with the intrusive bodies. Mineralization remains open along strike where untested, at depth along the entire Zone, and across the width of the structure in most places. Veins parallel to the main structure, hosted by gneiss, have also been encountered in drill core. Galway believes potential for high grade gold occurrences as well as lower grade bulk resources has been demonstrated by the first 63 core drill holes reported to date.

San Celestino It has come to Galway's attention that a private company, Calvista Gold, has procured a 50 meter horizontal concession within a portion of a 10.1 hectare property located west of the San Celestino mine, the southwestern-most zone on its contiguous 1.2-km California property. This horizontal concession is the only one of its kind in Santander, according to Ingeominas, the Mining Ministry of Santander. Galway controls all mineralization above 2,460 meters and all mineralization below 2,410 meters.

Review by Qualified Person, Quality Control and Reports In compliance with National Instrument 43-101, Mr. Mike Sutton, P.Geo. is the Qualified Person responsible for the accuracy of this news release. All samples are assayed by ALS Chemex in Lima, Peru, after preparation at the Chemex facility in Bogota, Colombia. All core is under watch from the drill site to the core processing facility. Samples are fire assayed with an AA with gravimetric finish. Samples returning in excess of 3.0 g/t are sent for metallic screens. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards are inserted at one per 20 samples. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. True widths are unknown at this time, except for those shown. Core recovery in the mineralized zones has averaged over 92%.

About the Company Galway Resources is a well capitalized company, primarily focused on the exploration of gold and coal in Colombia. The core focus of the Company is gold exploration in northeast Colombia with a drilling program occurring at the California gold project and extensive underground channel and surface sampling taking place at the nearby Vetas gold project. The Company has also reported that drilling has occurred at the GALCA coal project in Colombia, which is being managed and funded by Prodeco, the Colombian subsidiary of Glencore. Efforts are underway to secure access from the GALCA property owners to move the drill rig to the next set of planned drill holes.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements:

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/....ecember2010/15/c5458.…

SOURCE: Galway Resources Ltd.

Copyright (C) 2010 CNW Group. All rights reserved.

[apotheker78]

GALWAY RESOURCES LTD. ANNOUNCES C$25 MILLION BOUGHT DEAL PRIVATE PLACEMENT AND INTENDED SPIN-OUT OF THE VETAS PROJECT
12/16/2010 3:38:23 PM - NFD

TORONTO, ONTARIO, Dec 16, 2010 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Galway Resources Ltd. (TSX VENTURE:GWY) ("Galway" or "the Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the "Lead Underwriter") and including Wellington West Capital Markets Inc. and MGI Securities Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal private placement basis, 25,000,000 units of the Company (the "Units"), at a price of C$1.00 per Unit (the "Offering Price") for aggregate gross proceeds to Galway of C$25,000,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (each a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (a "Warrant Share") at a price of $1.50 per Warrant Share (the "Exercise Price") for a period of two years following the closing of the Offering, except that if over a period of 20 consecutive trading days the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange exceeds the Exercise Price by 25% on each of those days, the Company will have the right to give notice in writing to the Lead Underwriter and to the holders of Warrants within 30 days of such an occurrence that the Warrants shall expire at 4:00 p.m. (Toronto time) on the 45h day following the giving of such notice unless exercised by the holders thereof prior to such date.

The Offering is expected to close on or about January 13, 2011 and is subject to the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

The net proceeds are intended to be used by the Company to advance its California and Vetas gold projects located in Colombia and for general working capital and corporate purposes.

Vetas Spin-Out:

The Company is also pleased to announce its intention to spin-out its Vetas gold project into a newly incorporated, wholly-owned subsidiary to be distributed to its shareholders. Galway Resources believes the Spin-Out Transaction will help maximize shareholder value allowing the Company to focus on the California projects while shareholders enjoy growth opportunities in the development of the Vetas gold project. Upon completion of the transfer of the Vetas gold project and a portion of the proceeds from the Offering as working capital for the subsidiary, Galway intends to distribute common shares of the subsidiary to its shareholders on a pro rata basis (the "Spin-Out Transaction").

It is anticipated that the Spin-Out Transaction will be completed pursuant to a plan of arrangement or other suitable transaction and will be subject to TSX Venture Exchange, regulatory and court approval, as well as shareholder approval. Further details of the Spin-Out Transaction will be announced.

In January 2010, Galway announced that it had entered into a binding agreement to acquire a 100% interest in the Reina de Oro and Coloro properties in the center of the historic Vetas Gold Mining District in Colombia. The properties are mostly contiguous and collectively comprise 542 hectares (1,339 acres). The Reina de Oro property's main asset at present, the El Volcan Mine, has been the site of gold mining since the 1590's and has produced among the most gold of any in the historic California-Vetas gold mining district. The town of Vetas is located approximately 8 kilometers southeast of California, the sight of the Company's on-going gold exploration program, on strike with Ventana's and Greystar's major gold discoveries. Drilling is expected to commence in the first quarter of 2011.

Grades returned from our channel sampling program include 104.8 grams per tonne (g/t) gold (Au) over a strike length of 70.1 meters (0.8 m true width), and 317.6 g/t Au over a strike length of 25 meters (0.8m true width) including 1,374.8 g/t Au over a strike length of 5.0 meters from two different veins. Results from over 1,400 samples have been reported on. Visit Galway's website at www.galwayresources.com for additional information.

Review by Qualified Person, Quality Control and Reports

In compliance with National Instrument 43-101, Mr. Mike Sutton P.Geo., is the Qualified Person responsible for the accuracy of this news release. All samples were assayed for Metallic Screen test by ALS Chemex (Prepared in Bogota, tested in Peru). The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments. All widths are true widths.

About the Company

Galway Resources is a well capitalized company, primarily focused on the exploration of gold and coal in Colombia. The core focus of the Company is gold exploration in northeast Colombia with a drilling program occurring at the California gold project and extensive underground channel and surface sampling taking place at the nearby Vetas gold project. The Company has also reported that drilling has occurred at the GALCA coal project in Colombia, which is being managed and funded by Prodeco, the Colombian subsidiary of Glencore. Efforts are underway to secure access from the GALCA property owners to move the drill rig to the next set of planned drill holes.

[wulfgar999]

Wednesday, January 19, 2011

Galway Intercepts 22.5 Meters of 7.8 g/t, 10.0 Meters of 10.0 g/t, 6.0 Meters of 32.8 g/t, and 59.0 Meters of 1.7 g/t Gold

Toronto, Ontario: January 19, 2011 - Galway Resources Ltd. (GWY: TSX-V) is pleased to announce assay results from eleven additional drill holes from its diamond drill exploration program on the Company's California property in Colombia. Nine of the holes were drilled in the Pie de Gallo Zone, with the remaining two in the Northeast Zone. Ten of the eleven holes contained significant intervals of gold mineralization, with the eleventh prematurely terminated as a result of a stuck drill rod just 111.5 meters downhole. Of the ten drill holes that returned significant gold mineralization, nine of them encountered multiple significant intervals. A complete summary of drill hole assay results is provided in Table 1. All maps and sections associated with this press release can be found on Galway's website at www.galwayresources.com.

"We continue to be very encouraged by the strong results received from our California exploration program. With the $25.7 million equity financing now completed, we are well positioned to advance not only California, but our Vetas property as well. We look forward to providing additional drill results from California in the weeks ahead, and to begin drilling Vetas later in the first quarter. We will update shareholders with regard to our previously announced Vetas spin-out later in the first quarter as well. With strong drill results at California, drilling set to commence at Vetas and the completion of our equity financing, 2011 is shaping up to be an exciting year for Galway," cites Robert Hinchcliffe, President and CEO of Galway Resources.

Gold intercept highlights from the Pie de Gallo Zone are as follows:

GWY-74

* 22.5 meters grading 7.8 grams per tonne gold (g/t Au) and 16.5 g/t silver (Ag), including 1.5 meters of 102.5 g/t Au
* 16.0 meters grading 1.1 g/t Au and 17.5 g/t Ag
* 20.2 meters grading 0.90 g/t Au


GWY-71

* 10.0 meters grading 10.0 g/t Au, including 4.0 meters of 22.4 g/t Au
* 59.0 meters grading 1.7 g/t Au, including 4.0 meters of 6.4 g/t Au, 2.0 meters of 6.7 g/t Au and 2.0 meters of 5.7 g/t Au
* 26.0 meters grading 1.8 g/t Au, including 2.0 meters of 9.3 g/t Au
* 11.8 meters grading 1.4 g/t Au


GWY-69

* 6.0 meters grading 32.8 g/t Au, including 2.0 meters of 92.4 g/t Au
* 4.0 meters grading 8.5 g/t Au, including 2.0 meters of 16.5 g/t Au
* 11.5 meters grading 1.0 g/t Au


GWY-64

* 16.5 meters grading 3.9 g/t Au and 30.5 g/t Ag, including 4.5 meters of 9.1 g/t Au and 37.6 g/t Ag
* 8.0 meters grading 3.8 g/t Au, including 2.0 meters of 11.0 g/t Au
* 10.0 meters grading 2.1 g/t Au, including 2.0 meters of 6.5 g/t Au
* 12.0 meters grading 1.7 g/t Au
* 2.0 meters grading 6.9 g/t Au


GWY-72

* 16.0 meters grading 4.4 g/t Au, including 2.0 meters of 27.8 g/t Au
* 26.0 meters grading 0.95 g/t Au and 14.4 g/t Ag
* 15.0 meters grading 0.85 g/t Au and 19.5 g/t Ag


GWY-66

* 12.0 meters grading 2.2 g/t Au, including 3.0 meters of 5.9 g/t Au
* 6.0 meters grading 3.4 g/t Au, including 1.5 meters of 9.1 g/t Au
* 10.0 meters grading 1.2 g/t Au
* 10.0 meters grading 1.1 g/t Au


GWY-68

* 60.0 meters grading 0.69 g/t Au
* 12.0 meters grading 1.0 g/t Au


GWY-67

* 24.0 meters grading 1.0 g/t Au and 34.7 g/t Ag


The additional nine holes completed in the Pie de Gallo Zone were drilled generally at 25 to 30 meter centers to offset previous gold bearing intercepts. These holes continue to extend continuity of mineralization both vertically and laterally along structure in multiple overlapping lenses typical of the district. On Section 8240E, GWY-71 intersected 59.0 meters of 1.7 g/t Au. This appears to align with a steep vertical dip with GWY-62 (24.0 meters of 8.4 g/t Au), GWY-53 (67.3 meters of 1.1 g/t Au), and GWY-54 (19.5 meters of 11.0 g/t Au), plus GWY-59 (25.0 meters of 2.4 g/t Au) at a further 75 meters down-dip (December 15, 2010 press release). These intercepts also appear to demonstrate continuity with GWY-10 (89.0 meters of 3.2 g/t Au) on Section 8200E. To the north of this, the 16.5 meters of 3.9 g/t Au (GWY-64) appears to line up well with 67.3 meters of 1.1 g/t Au (GWY-67) and 11.8m of 1.4 g/t Au (GWY-71). Drill hole GWY-71 has filled in the full width of the mineralized corridor of 150 meters on this section. The intersection of 10.0 meters of 10.0 g/t Au is open down dip, as is the result at the end of GWY-64 of 8.0 meters of 3.8 g/t Au. This represents one of the deepest intersections Galway has encountered to date, at 300 meters below surface, and the mineralization remains open to depth.

On Section 8140E, the 150 meter wide mineralized corridor has also been in-filled. GWY-69, GWY-72 and GWY-74, drilled at successively steeper angles along the same line as the high grade gold intercepts in GWY-42 and GWY-43 (34.5 meters of 4.1 g/t Au and 6.0 meters of 39.5 g/t Au, respectively, reported on October 21, 2010), returned similar high grade discoveries. GWY-66 and GWY-68, along with previously announced GWY-63 (16.0 meters of 3.3 g/t Au and 8.0 meters of 2.1 g/t Au), have extended this zone of mineralization to the southwest.

Drilling in the Pie de Gallo Zone to date demonstrates mineralization along a 270 meter strike length beginning from surface to a depth of 350 meters. Mineralization in the Pie de Gallo Zone remains open in all directions.

Gold intercept highlights from the Northeast Zone are as follows:

GWY-65

* 95.5 meters grading 1.0 g/t Au and 15.0 g/t Ag, true width equals 20.0 meters (TW=), including 1.5 meters (TW=0.32m) of 3.5 g/t Au
* 7.5 meters (TW=1.57m) grading 5.5 g/t Au and 43.1 g/t Ag, including 1.5 meters (TW=0.32m) of 22.1 g/t Au and 189.0 g/t Ag
* 55.5 meters (TW=11.65m) grading 0.88 g/t Au and 13.1 g/t Ag, including 3.0 meters (TW=0.64m) of 4.6 g/t Au
* 28.5 meters (TW=5.9m) grading 0.82 g/t Au and 16.4 g/t Ag
* 24.0 meters (TW=5.0m) grading 0.69 g/t Au and 10.6 g/t Ag


GWY-70

* 3.0 meters (TW=1.8m) grading 47.0 g/t Au, including 1.5 meters (TW=0.9m) of 92.7 g/t Au
* 30.0 meters (TW=18.0m) grading 1.4 g/t Au and 29.1 g/t Ag


A 0.5 g/t Au lower cutoff grade was applied in determining all intervals provided above. No upper cutoff grade was applied.

The two holes completed in the Northeast Zone offset and continue to expand upon the thick zone of gold mineralization encountered in GWY-37 (121.5 meters of 2.7 g/t Au reported on September 8, 2010) and GWY-58 (96.0 meters of 1.6 g/t Au reported on December 15, 2010). As demonstrated by section 8440E, continuity is excellent. Galway has now identified approximately 100 meters of strike length in the NE Zone, and the intercept of 95.5 meters of 1.0 g/t Au in GWY-65 announced here effectively extends known mineralization in this part of the structure from surface to 350 meters below surface. Mineralization remains open in all directions.

Mineralization
Intercepts reported above and in previously reported drill holes are hosted by silicified zones, breccias, fracture zones and stockwork, typical of the district, which includes Greystar Resources' National Instrument 43-101 compliant resource, Angostura, and Ventana Gold's National Instrument 43-101 documented project, La Bodega. The principal geologic control in the California-Angostura District is a linear structural corridor that trends northeast-southwest and dips steeply to the north. Segments of this zone host the resources reported by both Greystar and Ventana, and Galway is exploring another segment along the same structural corridor. The entire corridor may be one continuous mineralized zone through all three company's properties. The mineralized Zone identified on Galway's properties is approximately 150-200 meters wide and 1,000 meters long, characterized by hydrothermal alteration and mineralization within various phases of pervasively altered intrusive porphyries. Mineralization remains open along strike where untested, at depth along the entire Zone, and across the width of the structure in most places. Galway believes potential for high grade gold occurrences as well as lower grade bulk resources has been demonstrated by the first 74 core drill holes reported to date.

Vetas Spin-Out
On December 16, 2010, Galway announced its intention to spin-out its Vetas gold project into a newly incorporated, wholly-owned subsidiary to be distributed to its shareholders. Galway believes the Spin-Out Transaction will help maximize shareholder value, allowing the Company to focus on the California projects while shareholders enjoy growth opportunities in the development of the Vetas gold project. Upon completion of the transfer of the Vetas gold project and a portion of the proceeds from the recently completed $25.7 million equity financing as working capital for the subsidiary, Galway intends to distribute common shares of the subsidiary to its shareholders on a pro rata basis (the "Spin-Out Transaction").

It is anticipated that the Spin-Out Transaction will be completed pursuant to a plan of arrangement or other suitable transaction and will be subject to TSX Venture Exchange, regulatory and court approval, as well as shareholder approval. Further details of the Spin-Out Transaction are expected to be announced later in the first quarter.

In January 2010, Galway announced that it had entered into a binding agreement to acquire a 100% interest in the Reina de Oro and Coloro properties in the center of the historic Vetas Gold Mining District in Colombia. The properties are mostly contiguous and collectively comprise 542 hectares (1,339 acres). The Reina de Oro property's main asset at present, the El Volcan Mine, has been the site of gold mining since the 1590's and has produced among the most gold of any in the historic California-Vetas gold mining district. The town of Vetas is located approximately 8 kilometers southeast of California, the sight of the Company's on-going gold exploration program that is on strike with Ventana's and Greystar's major gold discoveries. Drilling is expected to commence underground after the necessary infrastructure is in place, later in the first quarter.

Grades returned from Galway's channel sampling program include 104.8 g/t Au over a strike length of 70.1 meters (0.8 meter true width), and 317.6 g/t Au over a strike length of 25 meters (0.8 meter true width) including 1,374.8 g/t Au over a strike length of 5.0 meters from two different veins. Results from over 1,400 samples have been reported. Visit Galway's website at www.galwayresources.com for additional information.

Review by Qualified Person, Quality Control and Reports
In compliance with National Instrument 43-101, Mr. Mike Sutton, P.Geo. is the Qualified Person responsible for the accuracy of this news release. All samples are assayed by ALS Chemex in Lima, Peru, after preparation at the Chemex facility in Bogota, Colombia. All core is under watch from the drill site to the core processing facility. Samples are fire assayed with an AA with gravimetric finish. Samples returning in excess of 3.0 g/t are sent for metallic screens. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards are inserted at one per 20 samples. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab with the results averaged and intersections updated when received. True widths are unknown at this time, except for those shown. Core recovery in the mineralized zones has averaged over 92%.


About the Company
Galway Resources is a well capitalized company, primarily focused on the exploration of gold and coal in Colombia. The core focus of the Company is gold exploration in northeast Colombia, with a drill program occurring at the California gold project and a geophysical program occurring at the Vetas gold project, which will be followed by a drill program later in the first quarter. The Company has also reported that drilling occurred in 2010 at the GALCA coal project, which is being managed and funded by Prodeco, the Colombian subsidiary of Glencore. Efforts are underway to secure access from GALCA property owners to move the drill rig to the next set of planned drill holes.

For further information contact:

Galway Resources Ltd.
Robert Hinchcliffe
President and Director
1-800-475-2412
www.galwayresources.com

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements:

Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian Securities Regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

You can also view this News Release on our website at:
http://www.galwayresources.com/s/NewsReleases.asp?ReportID=4…
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Wednesday, March 16, 2011

Batista Plans IPO of Colombia Gold Unit, Abandons EBX Sale
Galway's neighbor, Ventana Gold, was recently acquired by Brazilian billionaire Eike Batista's gold company AUX for $1.5 billion. Plans to take AUX public over the next 12 months is one of the key features in the article below which crossed the wire March 14th. Galway's California property, where 1.2 km of strike has been identified, is located adjacent to and along strike with Ventana's La Bodega/La Mascota property, as well as having fractional concessions situated within the La Mascota mineralized structure (click here to view map). Galway has reported on results through GWY-87, the most recent of which can be seen in our press release dated March 1, 2011.

Batista Plans IPO of Colombia Gold Unit, Abandons EBX Sale

By Juan Pablo Spinetto and Fabiola Moura March 14 (Bloomberg) --

Brazilian billionaire Eike Batista plans an initial public offering of a gold mining unit in Colombia that he says is worth at least three times more than the company's current value.

Batista, Brazil's richest person, will list his gold company AUX in Bogota, London and Sao Paulo in the next year, in addition to the planned IPO of a Colombian coal-mining business, he said today in an interview at Bloomberg News headquarters in New York. EBX Group Ltd., which controls Batista's publicly traded companies and he proposed selling last year, is "never going public," Batista said.

Batista will invest about $100 million in Ventana Gold Corp. and may consider buying more assets before selling shares in the company. Ventana, based in Vancouver with assets in Colombia, is worth at least $4.5 billion compared with the valuation of C$1.54 billion ($1.58 billion) based on Batista's unsolicited offer, Batista said.

"The reason why we bought Ventana is that I see that the assets are three times bigger than what people who owned it thought it was," Batista said.

Batista, who bought his first gold mine at age 24, controls 91 percent of Ventana as of March 3 after winning an unsolicited offer for the company. He also plans to raise as much as $1.5 billion in an initial sale of CCX, as the Colombian coal unit is known.

Two Companies

"Now I have two new companies that are going to go public in a year from now," he said.
Batista said he also aims to list all five of his Sao Paulo-traded companies in London to help lure more international investors.

Shares of Batista's MMX Mineracao e Metalicos SA rose 3.9 percent today to 9.6 reais and are down 14.5 percent this year. OSX Brasil SA jumped 4.2 percent to 524 reais and is up 8.5 percent this year.
OGX Petroleo e Gas Participacoes SA advanced 0.9 percent to 19.05 reais and have dropped 4.8 percent this year. LLX Logistica SA climbed 3.8 percent to 4.61 reais and lost 2.5 percent this year. MPX Energia SA gained almost 2 percent to 37.20 reais and is up 41.2 percent this year.

The benchmark Bovespa index is down 3 percent so far this year.

--With assistance from Margaret Brennan in New York. Editors: Laura Zelenko.