Galway Resources reports positive results from its infill drilling program at the Indian Springs open-pittable tungsten project



    ELKO, NV, Dec. 6 /CNW/ - Galway Resources Ltd. (GWY: TSX-V) is pleased to
announce positive drill results from the second round of infill drilling at
its Indian Springs open-pittable tungsten property located in Elko County,
Nevada. The results of the two holes listed below, now bring the total
reported assay results of 4-holes from the current 15-hole (7,000 foot) in
fill core program. The purpose of the current core program is to collect
additional sample material for metallurgical testing and to upgrade the
resource. The current NI 43-101 resource for Indian Springs contains
37 million pounds of tungsten in the Indicated Category, and 25 million pounds
of tungsten in the Inferred Category (see the second table).
    "We are particularly pleased with the results from ISC07-132 hole, the
grades and intercepts, with over 260 feet of ore grade material in the one
hole is quite favorable. Every 0.1% change in the grade implies a change of
2 pounds of tungsten. With the current tungsten price of $12.50 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 two drill results include:

    -   High Grade Intercept: Hole ISC07-132 intercepted 11 feet of 0.61%
        tungsten (WO(3)), and the same hole had a 45 foot intercept with an
        average grade of 0.28% tungsten (W0(3)). The grade of these
        intercepts are considerably higher than the average grade of the
        deposit.

    -   Thick Intercept: Hole ISC07-132 also intercepted 40 feet of 0.16%
        tungsten, another intercept of 50 feet of 0.14%, and a 55 feet
        interval of 0.18% WO(3). Hole ISC07-131 had an intercept of 29 feet
        of 0.22% WO(3).

    -------------------------------------------------------------------------
    Hole Id         From         To        Intercept       Tungsten
                               (feet)        (feet)          WO(3)%
    -------------------------------------------------------------------------
    ISC07-131
    -------------------------------------------------------------------------
    (core)          15.0        43.5           28.5           0.22
    -------------------------------------------------------------------------
                   266.5       277.5           11.0           0.14
    -------------------------------------------------------------------------
    ISC07-132
    -------------------------------------------------------------------------
    (core)           4.0        14.5           10.5           0.30
    -------------------------------------------------------------------------
                    31.0        57.8           26.8           0.18
    -------------------------------------------------------------------------
                    85.0       125.4           40.4           0.16
    -------------------------------------------------------------------------
                   195.0       245.0           50.0           0.14
    -------------------------------------------------------------------------
                   264.4       319.0           54.6           0.18
    -------------------------------------------------------------------------
                   332.0       346.5           14.5           0.24
    -------------------------------------------------------------------------
                   357.0       402.0           45.0           0.28
    -------------------------------------------------------------------------
                   460.5       471.0           10.5           0.61
    -------------------------------------------------------------------------
                   486.0       489.5            3.5           1.00
    -------------------------------------------------------------------------
                   504.0       519.0           15.0           0.12
    -------------------------------------------------------------------------
    

    A cutoff grade of 0.10% WO(3) was used along with a minimum thickness of
continuous ore for 15 feet.
    To see the plan map and cross section for these holes, please click on
the following links:
http://www.galwayresources.com/i/pdf/IndianSpringsPlanMap.pdf
http://www.galwayresources.com/i/pdf/IS_cross-section65.pdf
http://www.galwayresources.com/i/pdf/IS_cross-section67.pdf

    Recent NI 43-101 Independent Resource Estimate

    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          11                0.17            37,000,000
    -------------------------------------------------------------------------
    Indicated           8                0.17            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 served as the impetus for prices to rise sharply at the
end of 2004. Since October of 2005, tungsten prices have remained above
US$12.00 per pound with current prices at US$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 (which includes a "qualified person," Peter Hahn,
CPG, the Company's 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 $11 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 has carried out 5 drilling programs on its three U.S. based projects over
the past 12 months. 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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Galway Resources Ltd.

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