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Galway Metals Announces Final Option Payment for Royalty Buy Back at Its Clarence Stream Property

TORONTO, July 11, 2025 (GLOBE NEWSWIRE) -- Galway Metals Inc. (TSXV:GWM) ("Galway" or the "Company") is pleased to announce that it intends to settle the sixth (6th) and final of six (6) payments (the "Sixth Partial Payment") due in consideration of an agreement previously announced on July 21, 2020 (the "Agreement") by the cash payment of $125,000 and the issuance of 974,026 common shares in the Capital of the Company ("Shares") at a deemed price equal to $0.385 per Share for a total deemed price of $375,000.

Pursuant to the Agreement, the Company bought back a two percent (2.0%) net smelter returns royalty (the "Royalty") from an arm's length third party royalty holder (the "Former Royalty Holder"), covering certain mineral claims at the Company's Clarence Stream property in southwest New Brunswick (the "Property"). The Agreement provided for a total purchase price of $3,000,000 in six equal annual instalments of $500,000, with each partial payment representing the purchase of one-sixth (1/6) of the Royalty (each a "Partial Payment"). The first Partial Payment was settled on Closing in 2020 through the issuance of 434,783 Shares to the Former Royalty Holder at a deemed price equal to $1.15 per Share for a total deemed price of $500,000. Pursuant to the Agreement, each subsequent $500,000 Partial Payment was to be paid as follows: (i) $125,000 in cash; and, (ii) the remaining $375,000, at the sole election of the Company, paid either in cash, through the ...