TORONTO, ONTARIO--(Marketwired - Nov. 27, 2017) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Galway Metals Inc. (TSX VENTURE:GWM) (the "Company") is pleased to announce that it has completed a non-brokered private placement financing (the "Offering"). The Offering consisted of the sale of 1,142,857 Hard Dollar Units ("HD Units") at a price of $0.35 per HD Unit and 257,000 Flow Through Units ("FT Units") at a price of $0.43 per FT Unit for total gross proceeds of $510,510. This is in addition to the closing of an earlier financing of $4,130,081.83 which was announced on November 14, 2017.

Each HD Unit consists of one (1) common share in the capital stock of Galway Metals (each a "Share") and one-half (1/2) of one Share purchase warrant (a "Warrant"). Each FT Unit consists of one (1) Flow Through Share and one-half (1/2) of one Warrant. Each Warrant will entitle the holder to purchase one Share at the price of $0.50 for a period of 24 months after closing. If the closing price on the TSX Venture Exchange equals or exceeds $0.75 per Share for a period of 20 consecutive trading days, the Company has the right to accelerate the expiry date of the Warrants to the 30^th day following the company mailing a notice of acceleration.

The $400,000 in HD Units were subscribed by The Diversification of Exploration Investment Partnership (SIDEX Limited Partnership), which was established by the Government of Québec and the Fonds de solidarité FTQ. The mission of SIDEX is to invest in companies engaged in mineral exploration in Québec in order to diversify Québec's mineral base, encourage new exploration models, stimulate investment in exploration for new commodities and to open new territories with strong discovery potential.

The securities issued and issuable pursuant to the Offering will be subject to a four month and one-day statutory hold period.

Galway Metals intends to use the net proceeds from the Offering to complete the field work on its Estrades property, in western Québec, Canada.

CAUTIONARY STATEMENT: 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 of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements made herein with respect to, among other things, the Company's objectives, goals or future plans, potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company's public disclosure documents filed on SEDAR. Although the Company believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management's expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.