Galway Resources infill drilling intercepts 170 feet of tungsten mineralization at the Indian Springs open-pittable project



    ELKO, NV, Feb. 7 /CNW/ - Galway Resources Ltd. (GWY: TSX-V) is pleased to
announce results from its 15-hole 7,000 foot drilling program which was
completed in December 2007. In total Galway has drilled 16,000 feet to
complement the 62,000 feet of historical drilling that was done previously.
The property is located in Elko County, Nevada. The Company continues to
upgrade the quality of the 43-101 resource estimate by doing more drilling,
while also obtaining more sample material for metallurgical testing.
    "We are pleased with these solid results, with hole 133 having over
320 feet of mineralization (including 170 feet at 0.17% WO(3)), and with hole
130 having just under 200 feet of mineralization, it's very encouraging. With
tungsten pricing remaining around $12.50 per pound, the implied metal value
for this deposit demonstrates its vast potential as an open pit deposit,"
states Robert Hinchcliffe, President of Galway Resources.

    
    Highlights of the current drill results include:

    Thick Intercepts: Hole ISC07-133 intercepted 170 feet of 0.17% of tungsten
(WO(3)), along with 88 feet of .28% WO(3) that is near surface. Hole ISC07-133
intercepted 68 feet of 0.17% WO(3).

    High Grade: Hole ISC07-133 also intercepted 14 feet of mineralization with
an average grade of 0.44% WO(3) and also 23 feet of 0.26% WO(3).

    -------------------------------------------------------------------------
    Hole ID           From          To        Intercept       Tungsten
                     (feet)       (feet)        (feet)        (WO(3)%)
    -------------------------------------------------------------------------
    ISC07-133         13.0        101.0          88.0           .28
    -------------------------------------------------------------------------
    (core)            80.0         94.0          14.0           .44
    -------------------------------------------------------------------------
    including        118.0        288.0         170.0           .17
    -------------------------------------------------------------------------
                     177.0        200.0          23.0           .26
    -------------------------------------------------------------------------
                     301.7        316.0          14.3           .16
    -------------------------------------------------------------------------
                     330.3        340.0           9.7           .18
    -------------------------------------------------------------------------
    ISC07-130         36.5         69.0          32.5           .18
    -------------------------------------------------------------------------
    (core)           195.0        214.0          19.0           .24
    -------------------------------------------------------------------------
                     278.0        346.0          68.0           .17
    -------------------------------------------------------------------------
                     357.0        405.0          48.0           .13
    -------------------------------------------------------------------------
                     442.0        455.0          13.0           .17
    -------------------------------------------------------------------------
                     494.0        510.0          16.0           .16
    -------------------------------------------------------------------------
    

    To see the plan map and cross section for these holes, please click on
the following links:

    http://www.galwayresources.com/i/pdf/IS_CS67_LNE.pdf

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

    Galway announced on May 1, 2007 the first NI 43-101 resource estimate for
the Indian Springs project prepared by SRK Consulting (U.S.) Inc. The resource
estimate was based on 62,000 feet of drill data (299) holes and approximately
2,500 trench samples carried out by Utah International (which was later
acquired by BHP Billiton). The new resource estimate also included the results
from Galway's 2006 drilling program which consisted of 20 holes (8,000 feet)
of reverse circulation drilling and 3 core holes (1,000 feet).

    
    -------------------------------------------------------------------------
    Category     Tons (Millions)   %WO(3) (Tungsten)      Pounds Of
                                        Grade              Tungsten
    -------------------------------------------------------------------------
    Indicated         10.8              0.171             37,000,000
    -------------------------------------------------------------------------
    Inferred           8.2              0.167             25,000,000
    -------------------------------------------------------------------------
    (*) A cut-off grade of 0.10% WO(3) was used for this resource estimate.
    

    Current Tungsten Pricing

    During the eighties and nineties tungsten pricing remained depressed,
with prices trading between US$2.50 to $3.00 per pound. A significant decrease
in exports from China coupled with consistent strong global demand for
tungsten has served as the impetus for prices to rise sharply at the end of
2004. Since October of 2005, tungsten prices have remained above US$12.50 per
pound, and the current price is $12.50 per pound.

    QA/QC Statement

    The Company has implemented a quality assurance and quality control
(QA/QC) program to ensure collection and analysis of all drill samples is
conducted in accordance with the best possible practices. Samples are stored
in a secured area in Montello prior to transfer to lab personnel for shipping
to the Chemex sample preparation facility in Elko, Nevada. Other QA/QC
procedures include the insertion of blanks and control samples every 100 feet,
and re-assaying duplicate pulps of 5% of all samples and 10% of samples
assaying greater than 0.1% WO(3). All duplicate samples are re-assayed at both
Chemex and at a certified independent laboratory (SGS). WO(3) is assayed at
the Chemex Vancouver laboratory by two methods: (1) lithium borate fusion with
an XRF finish and (2) pressed pellet XRF. The results of the Company's current
drilling program have been reviewed, verified (including sampling, analytical
and test data) and compiled by the Company's geological staff. Peter Hahn is
Galway's Qualified Person responsible for the activities at Indians Springs
and has reviewed the technical content of this news release in accordance with
National Instrument 43-101 Standards of Disclosure for Mineral Projects, of
the Canadian Securities Administrators. Galway is following the "Best
Practices Guidelines" in documenting, reporting, and conducting exploration
activities at Indian Springs.

    About the Company

    The company is well capitalized with just under $10 million in the
treasury and is focused on developing two U.S. based exploration projects that
are favorably located and have over 250,000 feet of historical drilling. We
have established a solid technical team that has compiled all the historical
data and we are now advancing these projects in an aggressive but cost
effective manner. More recently, a Colombian Exploration initiative focused on
coal and gold was announced. Management believes that its strategic portfolio
of properties offers investors an interesting exposure to a unique blend of
commodities (molybdenum, tungsten, metallurgical and thermal coal, and gold).


    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the
    contents of this news release.

    Forward Looking Statements:

    Some statements in this news release contain forward-looking information.
These statements include, but are not limited to, statements with respect to
the completion of transactions, the timing and amount of payments and share
issuances, the completion of financings, the use of proceeds, future
exploration, development and production activities and future expenditures.
These statements address future events and conditions and, as such, involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements to be materially different from
any future results, performance or achievements expressed or implied by the
statements. Such factors include, among others, the ability to complete
contemplated transactions, payments, share issuances and financings, the use
of proceeds, the time and success of future exploration, development and
production activities and the timing and amount of expenditures.





For further information:

For further information: Galway Resources Ltd., Robert Hinchcliffe,
President and Director, 1-800-475-2412, www.galwayresources.com

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