Galway Acquires Gold Mine In

Galway Acquires Gold Mine In Colombia

TORONTO, ON – Galway Resources Ltd. reported that it has 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. In fact, the mine 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.

"We are extremely pleased to gain a significant foothold in the most prolific gold producing area in the California-Vetas district, a mine that has been producing gold for over 400 years and enjoys comparatively good infrastructure. We are very excited to be the first company to initiate a technologically advanced exploration campaign on these properties, which complement on many different fronts our current activities in the nearby California gold trend. In short, this acquisition along with our on-going exploration program, on trend with Ventana’s La Mascota gold discovery, adds significant up-side potential to the Company’s exploration efforts in the California-Vetas gold district," cites Robert Hinchcliffe, President and CEO of Galway Resources.

"Galway plans an aggressive exploration program of underground and surface sampling, geophysics and drilling to rapidly advance this project. The Vetas district contains a very large area of intense iron staining and argillic alteration at surface. Initial survey results indicate the potential not only for the obvious underground mining target, but also for a large tonnage, open pittable gold deposit at surface. The opportunity to be the first company to apply modern exploration techniques on such a large mineralized gold district is very exciting," says Mike Perkins, Chief Geologist for Galway Resources.

The company’s address is 360 Bay Street, Suite 500, Toronto, ON M5H 2V6, 800-475-2412, email: info@galwayresources.com.