TSX-V:GLW
Galway Gold’s
Vetas Project
Santander State,
State
Colombia
FORWARD-LOOKING STATEMENT
Certain disclosures in this presentation, including management’s assessment of Galway Gold’ plans and projects,
constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors beyond
Galway Gold’s ability to predict or control. These risks, uncertainties and other factors include, but are not limited to,
gold price volatility, changes in debt and equity markets, timing and availability of external financing on acceptable
terms the uncertainties involved in interpreting geological data and confirming title to recently acquired properties,
terms,
properties
the possibility that future exploration results will not be consistent with Galway Gold’s expectations, increases in
costs, environmental compliance and changes in environmental and other local legislation and regulation, interest
rate and exchange rate fluctuations, changes in economic and political conditions and other risks involved in the
gold and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the
factors that mayy affect the forward-looking
g statements. Actual results and developments
p
are likelyy to differ,, and
may differ materially, from those expressed or implied by the forward-looking statements contained in this
presentation. Such statements are based on a number of assumptions that may prove to be incorrect, including, but
not limited to, assumptions about the following: the availability of financing for Galway Gold’s exploration and
development activities; operating and exploration costs; the Company’s ability to retain and attract skilled staff;
timing of the receipt of regulatory and governmental approvals for exploration projects and other operations;
market competition; and general business and economic conditions.
conditions
The forward looking statements contained in this document are based on what management believes to be
reasonable assumptions, however, forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause Galway Gold’s actual results, performance or achievements to be materially different
from any of its future results,
results performance or achievements expressed or implied by forward-looking
forward looking statements.
statements All
forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place
undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or
otherwise revise any forward-looking statements whether as a result of new information or future events or
otherwise, except as may be required by law. If the Company does update one or more forward-looking statements,
no inference should be drawn that it will make additional updates
p
with respect
p
to those or other forward-looking
g
statements, unless required by law.
2
CORPORATE OVERVIEW
•
•
•
•
•
•
•
Galway Gold is a well-capitalized company focused on the exploration of gold in
the historic Vetas gold district of northeast Colombia where mining dates back
over 400 years
Vetas is located just 8-km southeast of the multi-million ounce, world-class
California gold district
Galway
G
l
Gold’s
G ld’ predecessor
d
company, Galway
G l
R
Resources, sold
ld it
its interests
i t
t in
i
California plus a 10% interest in Galway Gold to AUX Canada (Eike Batista) for
approximately $340 million in cash
AUX now owns 17.5%
17 5% of Galway Gold
Galway embarked on very successful underground and surface drilling
campaigns at Vetas in which over 46,000 meters in 91 holes were completed
In the 68 underground drill holes in the El Volcan mine,
mine Galway reported that 171
samples sent to the lab returned gold values of 10 g/t or more, which equates to
2.5 times per drill hole
Measured and Indicated resource of 224,900 oz Au at 10.5 g/t and Inferred
resource of 377,000 oz Au at 10.3 g/t identified through underground drilling at
El Volcan
3
CORPORATE OVERVIEW
•
•
•
Galway sought to exercise its option to acquire the Reina de Oro
concession, which hosts the El Volcan Mine, but was rejected by
landowners
Galway is seeking resolution through arbitration
The Reina de Oro option agreement is for Galway to pay 1.5% of the
value of Measured and Indicated gold and silver resources, which
equated to $4.3
$4 3 million as of the date of option expiry
•
Galway had $12.3 million in cash at March 31, 2014
•
Galway is committed to Building High-Grade Value, Ounce-by-Ounce
4
AUX ACQUISITION
Galway Resources – AUX Deal: Excellent Value for Galway Shareholders
Cash Plus Growth in Two New Cash-Rich SpinCo’s
For Each Galway Resources Share, Shareholders Received:
•
•
•
•
•
$2.05/share cash
1.0 share in Galwayy Gold to hold Vetas with US$18 million cash
1.0 share in Galway Metals to hold Victorio with US$12 million cash
The combined US$30 million cash is worth $0.20/share; total cash from AUX is $2.25/share, or
$340 mm
AUX received Galway
Galway’ss California concessions and 10% of Galway Gold; AUX now owns 17.5%
17 5% of
Galway Gold
Vetas: High-Grade Gold-Silver System; Excellent Exploration Results at El Volcan Mine
•
•
•
•
•
Excellent gold-silver resource potential in high-grade veins; maiden resource reported Nov 2013
El Volcan system drill-defined along 550 m of strike; open to at least 1.25 km
Gold intersected 600 m below lowest level of El Volcan mine, or 900 m below surface; open to
depth, along strike and laterally
16 sub
sub-parallel
parallel and sub
sub-vertical
vertical veins in competent host rock; bulk
bulk-tonnage
tonnage low
low-cost
cost underground
mining
Upside beyond El Volcan mine block: 6 anomalies, including western border with CB Gold
5
CAPITAL PROFILE
• Market cap 11/6/14: C$8.3m
• Shares issued and outstanding: 166,511,932
• 52 week high-low: C$0.12 - C$0.045
• Share price as of 11/6/14: C$0.05
• Cash: $12m (June 30, 2014), $0 debt
• Ownership position:
AUX: 17%
Institutions: 30%
Management, family, friends: 15%
6
COLOMBIA – VAST GOLD POTENTIAL
• 80 million ounces of gold have
been discovered in the past 1015 years, accounting for about
10% of the discoveries
worldwide in that time.
• E
Early
l mover advantage
d
t g enabled
bl d
Galway Gold to secure an
excellent property package in
Vetas
• Other discoveries include
Angostura, Gramalote,
Marmato, La Colosa and AUX’s
(Ventana) La Mascota/La
Bodega
• The country hosts 4 prolific gold
trends
7
VETAS GOLD DISTRICT
Reina de Oro El Volcan Mine
8
VETAS DEAL TERMS
All option payments of US$1,642,500 and 1,200,000 shares have
been made
made. Only the exercise payment remains.
remains
Option exercise payment to earn 100% of the Vetas project is 1.5% of
the g
gold and silver values of Measured and Indicated g
gold resources,,
payable in cash and/or stock, at Galway Gold’s discretion.
9
VETAS HIGHLIGHTS
sil er mine in the Vetas district,
district producing
prod cing for over
o er 400 years,
ears metall
rgical
• The largest gold and silver
metallurgical
recoveries 80%-90% with artisanal mill
• Exploration efforts are looking for strike, lateral and vertical extensions of mineralized veins;
16 veins now identified - double the original 8 previously known; mineralization open in all
directions
• Mineralization drill intersected along 550 m of strike, 250 m of width and 600 m below the
lowest level of the mine (the main, or Reina de Oro level), or to 900 m below surface
• 2,000
2 000 meters of accessible underground workings enable quick geological advancement
• Galway is the first company to carry out a modern geological exploration program; over 46,000
meters in 91 holes have been completed
• Measured and Indicated resource of 224,900
oz Au at 10.5 g/t
,
g/ and Inferred resource of 377,000
,
oz Au at 10.3 g/t
High hit ratio in 68 underground drill holes:
¾
¾
¾
¾
5 g/t Au or more, 282 times
10 g/t Au or more, 171 times
20 g/t Au or more, 84 times
30 g/t Au or more, 50 times
¾
¾
¾
¾
50 g/t Au or more, 36 times
100 g/t Au or more, 16 times
150 g/t Au or more, 9 times
1,000 g/t Au or more, 2 times
10
RPA RESOURCE ESTIMATE ON VETAS
BASED ON 33,238 METERS IN 68 U/G DRILL HOLES
SUMMARY*
TABLE 1: MINERAL RESOURCE ESTIMATE SUMMARY
Category
Tonnes
Measured
Indicated
Measured &
Indicated
Inferred
23,900 641,000 Grade
(g/t Au)
7.79
10.62
664,900 10.52 14.8
224,900
317,100
1,146,000 10.30
15.3
377,000 563,000 (g/t Ag)
12.4
14.9
Contained Ounces
(oz Au)
(oz Ag)
6,100
9,400 218,800 307,700 RESOURCE BROKEN DOWN BY VEIN
Vein Name
Vein Name
BURRO
CORTEROS
GREEN
LOSCAS
LOSCAS FW
MANZANILLA
TAJO
VIRGEN 1
Totals
Tonnes
Au g/t
Au g/t
Measured Ag g/t
Ounces (Au)
Ag
g/t Ounces
(Au)
Ounces (Ag) Ounces (Ag)
Au g/t
Au g/t
11.89
8.52
10.43
10.45
11 28
11.28
9.78
12.8
10.2
12.7
18 8
18.8
15.0
27,700
20,500
21,000
71 000
71,000
26,200
41,700
20,100
25,700
118 200
118,200
40,100
10.62
14.9
218,800
307,700
3,800
6.18
12.4
800
1,500
5,400
7.31
12.2
1300
2,100
10 300
10,300
4,400
10 24
10.24
4.05
14 4
14.4
8.2
3400
600
4 700
4,700
1,100
101,000
61,100
62,700
195 800
195,800
83,400
23,900
7.79
12.4
6,100
9,400
641,000
Measured & Indicated V i N
Vein Name
T
Tonnes
BURRO
CORTEROS
GREEN
LOSCAS
LOSCAS FW
LOSCAS FW
MANZANILLA
TAJO
VIRGEN 1
Totals
137,000
3,800
101,000
66,500
62,700
206,100
87,800
664,900
Ounces (Ag)
Ounces (Ag)
61,900
Inferred
A /t
Ag g/t
O
Ounces (Au)
(A )
11.89
6.18
8.52
10.18
10.45
11.22
9.50
14.1
12.4
12.8
10.4
12.7
18.5
14.6
52,400
800
27,700
21,800
21,000
74,400
26,800
Ounces (Ag) 61,900
1,500
41,700
22,200
25,700
122,900
41,200
10.52
14.8
224,900
317,100
A /t
Au g/t
Indicated
Ag g/t
Ag
g/t Ounces (Au)
Ounces (Au)
14.1
52,400
Tonnes
137,000
T
Tonnes
139,000
150,000
57,000
150,000
68,000
211,000
126,000
245,000
1,146,000
A /t
Au g/t
A /t
Ag g/t
O
Ounces (Au)
(A )
8.8
18.7
6.6
7.1
7.5
8.6
8.7
11.8
10.3
15.0
26.3
9.8
8.8
13.8
20.3
13.8
10.9
15.3
39,000
90,000
12,000
34,000
16,000
58,000
35,000
93,000
377,000
*Refer to the press release dated November 27, 2013 for notes associated with the resource estimate
O
Ounces (Ag)
(A )
67,000
127,000
18,000
42,000
30,000
137,000
56,000
86,000
563,000
INITIAL GEOLOGICAL MODEL TO TEST FOR STRIKE, LATERAL AND
VERTICAL EXTENSIONS TO VETAS’ EL VOLCAN MINE
12
FIRST STEP WAS TO CHANNEL SAMPLE EXISTING TUNNELS IN
EL VOLCAN MINE
Vein
Average Gold
Sample Grade
(g/t Au)
Average Silver
Sample Grade
(g/t Ag)
Average
Width
(m)
Total
Strike
(m)
Reina de Oro Level
Corteros Vein
including
Loscas Vein
including
which includes
Manzanilla Vein
including
which includes
Chocolatua Vein
Tajo Abierto Vein
Total Reina Level
17.0
142.2
80.7
250.9
2 744 9
2,744.9
49.5
91.0
905.6
4.8
7.3
37.9
66.1
442.8
48.2
75.5
488 0
488.0
99.7
168.7
829.4
4.5
25.6
60.8
0.99
0.80
0.95
1.00
0 90
0.90
0.99
1.10
0.98
1.04
1.03
0.99
98.9
8.3
124.9
33.0
24
2.4
219.2
81.7
5.0
56.4
115.3
614.7
1.17
0 90
0.90
1.20
1.20
0.99
1.35
1.10
1.17
202.6
90
9.0
13.1
137.0
103.0
72.5
34.8
563.0
Tajo Abierto Level
Manzanilla Vein
incl ding
including
Burro Vein
Tajo Abierto Vein
Hueso Duro Vein
Ancha Vein-Lower
Ancha Vein-Upper
Total Tajo Level
24.8
211 5
211.5
6.1
19.1
15.8
26.1
20.9
21.5
47.6
295 7
295.7
5.6
26.5
15.8
23.4
33.6
31.9
13
HIGHLIGHTS OF VETAS DRILL RESULTS
Au
To
Interval
From
(M t ) (Meters)
(M t ) (Meters)
(M t )
/t
(Meters)
g/t
159.10
168.50
9.40
9.7
GWY-V002
182.24
184.85
2.61
17.2
105.46
112.19
6.73
21.9
GWY-V003
105.46
106.98
1.52
69.1
including
146.48
149.14
2.66
82.5
146.48
147.55
1.07
202.0
including
GWY-V006
52.12
52.79
0.67
64.4
88.09
89.16
1.07
138.0
GWY-V010
119.58
121.92
2.34
45.8
including
119.58
120.58
1.00
89.3
GWY-V012
88.77
100.21
11.44
15.3
including
91.14
92.06
0.92
112.3
127.61
134.81
7.20
12.8
including
130.49
131.61
1.12
67.2
105.16
110.62
5.46
17.9
GWY-V014
109.42
110.62
1.20
46.8
including
156.77
157.77
1.00
106.8
80.77
84.24
3.47
40.4
GWY-V015
80.77
82.03
1.26
84.9
including
108.20
117.64
9.44
6.6
311.25
312.45
1.20
104.4
140.75
143.91
3.16
78.2
GWY-V016
142.95
143.91
0.96
248.3
including
115.70
118.37
2.67
24.12
GWY-V017
115.70
117.03
1.33
42.0
including
199.43
203.50
4.07
28.3
202.05
203.50
1.45
61.7
including
93.26
94.24
0.98
92.2
GWY-V018
49.60
50.73
1.13
77.1
GWY-V021
78.76
80.02
1.26
95.6
133.19
134.40
1.21
1082.6
159.36
160.52
1.16
679.6
GWY-V026
82.43
83.34
0.91
1034.3
GWY-V027
277.58
280.96
3.38
27.4
279.80
280.96
1.16
49.4
including
166.12
167.37
1.25
203.4
GWY-V029
*True widths are 18%-98% of down-hole widths
Hole ID
Ag
/t
g/t
37.4
31.1
63.0
81.6
39.1
53.5
110.
21.3
375.9
144.0
36.5
34.2
11.0
34.5
8.2
22.5
100.0
6.7
12.0
1.3
16.0
12.6
38.0
38.0
306.0
8.1
9.0
18.0
51.3
16.9
718.0
164.0
300.0
7.2
11.0
1311.0
Vein Name-Notes
El Burro
Tajo Abierto-VG
Manzanilla
Manzanilla
El Burro-VG
El Burro-VG
New- VG
Loscas-VG
Manzanilla-VG
Manzanilla-VG
Green
Green-VG
Manzanilla-VG
Manzanilla-VG
Loscas
Loscas
Green-VG
Tajo Abierto
Tajo Abierto
El Burro
La Virgen 1-VG
Loscas-VG
Loscas-VG
El Burro-VG
El Burro-VG
Loscas-VG
Loscas-VG
Loscas FW-VG
Loscas HW
Loscas FW
Manzanilla-VG
Manzanilla
Loscas FW-VG
Tajo Abierto
Tajo Abierto
Green
From
(M t )
(Meters)
93.50
GWY-V031
94.80
including
351.02
GWY-V036
351.02
including
115.82
GWY-V040
116.74
116 74
i l di
including
GWY-V041 200.06
including
202.21
GWY-V046
279.88
GWY-V049 157.73
320.87
320.87
Including
Hole ID
including
GWY-V053
including
GWY-V059
GWY-V064
including
GWY-V073
GWY-V078
GWY-V078
including
GWY-V081
335.66
344.10
91.19
91.19
290.28
142.31
142.31
211.75
222.82
233.00
236.42
287.42
167.33
To
Interval
(M t ) (Meters)
(M t )
(Meters)
96.01
2.51
96.01
1.21
355.17
4.15
352.35
1.33
121.92
6.10
117.74
1.00
117 74
1 00
3.41
203.47
203.47
1.26
0.53
280.41
158.98
327.31
322.17
347.47
345.42
93.58
92.44
291.45
146.30
143.56
212.75
224.07
237.36
237.36
288.42
168.55
1.25
6.44
1.30
11.81
1.32
2.39
1.25
1.17
3.99
1.25
1.00
1.25
4.36
0.94
1.00
1.22
Au
/t
g/t
40.0
69.4
157.4
470.2
14.0
52.0
52 0
40.13
94.26
283.6
66.7
34.3
98.8
8.9
52.9
41.8
76.6
143.7
31.61
94.2
106.0
45.5
27.2
92.4
127.8
174.4
Ag
/t
g/t
34.76
56.0
76.9
142.0
7.6
29.1
29 1
35.8
55.0
99.0
16.0
83.0
154.0
3.8
2.0
102.0
102.4
216.0
7.82
13.0
90.0
25.0
10.8
22.0
41.0
67.0
Vein Name-Notes
Loscas HW
Loscas HW
Manzanilla
Manzanilla
Green
G
Green-VG
VG
Manzanilla
Manzanilla
Green-VG
Tajo Abierto HW
Corteros
Corteros
Corteros
Corteros
Manzanilla
Manzanilla
Corteros FW-VG
Green-VG
Green-VG
Loscas-VG
Manzanilla
Green
Green
Loscas HW
Tajo Abierto HW
Vetas Surface Drilling
GWY-VS028
including
including
including
including
GWY-VS061
including
208.62
209.49
493.83
493.83
496.37
503.91
302.65
302.65
374.58
210.00
210.00
506.21
495.41
497.34
506.21
306.84
303.65
375.92
1.38
0.51
12.38
1.58
0.97
2.30
4.19
1.00
1.34
17.4
45.2
4.0
7.8
12.0
8.3
26.0
105.0
29.2
3.7
5.0
2.8
5.0
2.0
2.8
26.9
76.6
6.2
La Araña-VG
La Araña-VG
Piedra Colorada
Piedra Colorada
Piedra Colorada-VG
Piedra Colorada-VG
El Brinco
El Brinco-VG
New
3D EL VOLCAN MINE MODEL
New view of 3D vein interpretation from El Volcan Mine-Vetas project.
16 veins
i iintercepted
t
t d with
ith gold
ld values
l
up tto 1
1,084.6
084 6 g/t
/t A
Au. IInitial
iti l d
drilling
illi
intersected El Volcan’s veins over 0.41 km of strike. Potential exists to
extend strike to at least 1.25 km. Drillholes show the first underground
drilling campaign (33,238 m drilled in 68 drill holes)
EL VOLCAN DRILLING AND STRIKE POTENTIAL
EL VOLCAN DRILLING AND DEPTH EXTENSION POTENTIAL;
MANY VEINS OUTCROP AT SURFACE
17
NEXT STEPS: MOVE DRILLS NORTH TO PADS 3 AND 4 –
EXTEND STRIKE NORTH; DRILL WESTERN BOUNDARY
18
SURFACE PRIORITY TARGETS INTRUSIVE ZONE,
ADDITIONAL ANOMALIES WILL BE TESTED
19
PROJECTION OF VETAS VEINS ON SURFACE
(Looking South-West)
VETAS DRILLING NOT AFFECTED BY NEW COLOMBIA NATURAL PARK
21
SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
• Galway Gold’s Department of Environmental Safety ensures
proper management of natural resources, including:
• air, water, soil, flora and fauna, such that activities generate
the least impact
p
possible
p
on the landscape
p and ecosystem
y
• the proper classification and disposal of solid waste and
recyclable materials generated in the Company’s exploration
efforts
• Regular meetings held with the local community to promote
community awareness and involvement
• Employees in environmental dep’t Vetas-6
• It is the Company’s objective to hire and train local personnel
wherever possible
• Galway Gold surveys its personnel to identify professional and
personal goals and attempts to align these goals with
Company objectives wherever practicable
• Galway Gold provides training to improve the professional
development of its employees
• Galway Gold implements activities to involve employee
families, such as:
• Training and Company activities for the families of
employees
• Financial aid for college-age employee children
• Sponsorship of sports teams
22
MANAGEMENT AND DIRECTORS
Robert Hinchcliffe – CEO, Director & Principal, M.B.A., B.A. Economics
• Founded Galway Resources, raised over $100 million and successfully negotiated sale to AUX for $340 million
and 2 well capitalized spinout companies
• CFO of Kirkland Lake Gold,
Gold raising $50 million in funds to re-commission
re commission the Kirkland Lake Gold Mine currently
worth over $800 million
• Seven years on Wall Street as a Mining and Resources Analyst for several prominent investment banks
covering U.S. and International mining companies
• 4 years working for Jordex Resources in Venezuela; primary role in the $65 million sale of a nickel deposit to
Anglo American
Alfonso Gomez – Colombia Country Manager, Director, M.A. International Commerce, B.A. Economics
• Over 30 years working in the resource sector with prominent international mining companies in Colombia
• In charge of Galway’s financial, legal, permitting, environmental and community affairs in Colombia
• Previously
P i
l Vice
Vi President
P id t off operations
ti
for
f Prodeco
P d
and
d Vi
Vice President
P id t off Public
P bli Affairs
Aff i off Carbones
C b
d l
del
Cerrejon, owner of the largest coal mine in the world, producing 35 million tons per year
Mike Sutton – Director, B.S. Geology (honors), QP
• Worked in some of the largest gold camps in the world, including Witwatersrand, Timmins and Kirkland Lake
• Discovered the Kirkland Lake Gold South Mine Complex – currently at 816,000
816 000 Proven + Probable reserve
ounces + 780,000 Measured and Indicated resource ounces and 662,000 Inferred resource ounces; awarded
Prospector of the Year for Ontario
• Guided Vault Minerals as Vice President of Exploration to a takeover by Queenston Mining Inc.
• As Director of Galway Resources, was instrumental in identifying and developing two interesting gold projects,,
one of which was sold for $340 million
• Galway Gold Qualified Person
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MANAGEMENT AND DIRECTORS
Robb Doub – Director, M.B.A. (honors), B.A. History
• Over 16 years of investing in high growth international emerging businesses
• General p
partner of New Markets Venture Partners
• Serves on the Board of K2 Alternative Strategies Offshore LTD and on the Conflicts Advisory Board of the
off-shore hedge funds managed by Deutsche Asset Management's Absolute Return Strategies Group
• Previously a Managing Director of SEAF, an emerging market venture capital company managing over
$200 million
Larry Strauss – Vice President of Corporate Affairs, Director, M.A. Energy and Mineral Resources (cum laude),
B.S. Geology (honors)
• 18 years of experience as a mining and commodities analyst in both Canada and the United States
• As Director of Galway Resources, was instrumental in identifying and developing two interesting gold
projects,, one of which was sold for $340 million
• Director and Mining Analyst at GMP Securities and worked with Canaccord Capital, Prudential Securities
and Merrill Lynch
Manuel Barragan – Independent Director, J.D., Masters in Corporate and Commercial Law
• More than 22 years of experience as Lawyer, Legal Counsel, and Legal Director of domestic and
i t
international
ti
l companies
i
• Legal Director for AUX Colombia SAS (Bogota, Colombia).
• Previously served as Legal Counsel and Legal Director for Corporacion Financiera del Valle (Cali, Colombia),
Cementos del Valle S.A. (Cali, Colombia), Michelin Colombia S.A. (Cali, Colombia), Michelin Brazil (Rio de
Janeiro,, Brazil)) and MPX/CCX
/
S.A. ((Bogota,
g , Colombia))
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SUMMARY
• Galway Gold is a well-capitalized company focused on the exploration of gold in the historic Vetas gold
district of northeast Colombia where mining dates back over 400 years
• Vetas is located just 8-km southeast of the multi-million ounce, world-class California gold district
• Galway Gold’s predecessor company, Galway Resources, sold its interests in California plus a 10%
interest in Galway Gold to AUX Canada (Eike Batista) for approximately $340 million in cash
• AUX now owns 17.5% of Galway Gold
Gold s management and board are the same as those that led Galway Resources.
• Galway Gold’s
• Galway has $12.3m in cash (March 31, 2014), $0 debt
• Galway embarked on a successful drilling campaign at Vetas; over 46,000 meters in over 91 drill holes
have been completed
• In the first 68 underground drill holes in El Volcan, Galway reported that 171 samples sent to the lab
returned gold values of 10 g/t or more, which equates to 2.5 times per drill hole
• Strong drill results include the discovery of three new veins west of the mine, several within the mine
g strike and to 900 m below surface
and extend 550 m along
• Measured and Indicated resource of 224,900 oz Au at 10.5 g/t and Inferred resource of 377,000 oz Au
at 10.3 g/t
• In addition to drilling the El Volcan mine from underground, Galway targeted extensions to CB Gold’s
recent discoveries along its western border; all zones are open in all directions
• Galway is committed to Building High-Grade Value, Ounce-by-Ounce
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