Galway Resources infill drilling intercepts high grade tungsten at the Indian Springs open-pittable tungsten project



    ELKO, NV, Sept. 26 /CNW/ - Galway Resources Ltd. (GWY: TSX-V) is pleased
to announce it has commenced the second round of infill drilling at its Indian
Springs open-pittable tungsten property located in Elko County, Nevada. In
June 2007, Galway began an infill 15-hole (7,000 foot) core program to collect
additional sample material for metallurgical testing and to upgrade the
resource.
    "We are pleased with these high grade intercepts encountered on both of
the holes. The purpose of this drilling program is to upgrade the resource and
to gather core samples for metallurgical test work. In this process if we can
improve the grade and size of the deposit then even better. Every 0.1% change
in the grade implies a change of 2 pounds of tungsten. With the current
tungsten price of $13.00 per pound, the implied metal value for this open pit
deposit demonstrates its vast potential," states Robert Hinchcliffe, President
of Galway Resources.

    
    Highlights of the current drill results include:

     -  High Grade Intercept: Hole ISC07-125 intercepted 11 feet of 0.85% of
        tungsten (WO3). ISC07-126 showed an intercept of 27.5 feet with an
        average grade of 0.56% tungsten (W03).
     -  Thick Intercept: Hole ISC07-125 also intercepted 66 feet of
        mineralization with an average grade of 0.33% tungsten, while ISC07-
        126 intercepted 55 feet with an average grade of 0.33% WO3
        (tungsten). Both intercepts are considerably higher than the average
        grade for the deposit, which is provided in the resource table below.

    -------------------------------------------------------------------------
                              From           To         Interval      WO(3)%
    -------------------------------------------------------------------------
    Hole ID                                (feet)                 Fusion/XRF
    -------------------------------------------------------------------------
    ISC07-125 (core)
    -------------------------------------------------------------------------
                              34.0          45.0          11.0          0.85
    -------------------------------------------------------------------------
                              78.0         144.0          66.0          0.33
    -------------------------------------------------------------------------
                             262.0         280.0          18.0          0.24
    -------------------------------------------------------------------------
    ISC07-126 (core)
    -------------------------------------------------------------------------
                              45.0          89.0          44.0          0.17
    -------------------------------------------------------------------------
    Including                 68.0          89.0          21.0          0.28
    -------------------------------------------------------------------------
                             131.0         140.0           9.0          0.40
    -------------------------------------------------------------------------
    Including                190.0         217.5          27.5          0.56
    -------------------------------------------------------------------------
                             296.0         351.0          55.0          0.33
    -------------------------------------------------------------------------
    

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

    http://www.galwayresources.com/i/pdf/IS_cross-section092407_4.pdf

    http://www.galwayresources.com/i/pdf/IS-drillhole-sep242007.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) Grade  Pounds of Tungsten
    -------------------------------------------------------------------------
    Indicated         10.8                  0.171               37,000,000
    -------------------------------------------------------------------------
    Inferred           8.2                  0.167               25,000,000
    -------------------------------------------------------------------------
    (*) A cut-off grade of 0.10% WO3 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 (or US$45-$75 per short
ton unit as reported by Metal Bulletin and the United States Geological
Service). A significant decrease in exports from China 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 (US$250 per short ton unit),
with current prices at US$13.25 per pound. Note, one short ton unit is equal
to 20 pounds of tungsten (WO3).

    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% WO3. All duplicate samples are re-assayed at both
Chemex and at a certified independent laboratory (SGS). WO3 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 (which includes a "qualified person," Peter Hahn,
CPG, the Project Manager for Indian Springs, for the purpose of National
Instrument 43-101 Standards of Disclosure for Mineral Projects, of the
Canadian Securities Administrators).
    Peter Hahn is Galway's Qualified Person responsible for the activities at
Indians Springs and has reviewed the technical content of this news release.
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 over $13 million in the treasury and
is focused on developing three U.S. based exploration projects that are
favorably located and have over 300,000 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. Management believes that its strategic portfolio of properties offers
investors an interesting exposure to a unique blend of commodities
(molybdenum, tungsten, copper, zinc, and silver).

    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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