Galway establishes a Gold Advisory Committee

    TORONTO, Aug. 6 /CNW/ - Galway Resources Ltd. (GWY: TSX-V) is pleased to
announce that it has assembled a Gold Advisory Committee to provide support to
the recently announced gold initiative that is focused on the California gold
region of Colombia. The Company recently announced the acquisition of 336
hectares (829 acres) of concessions in the California district of northeastern
Colombia. The properties are located 1.5 kilometers south-west of Ventana's La
Bodega project, and 3.0 kilometers from Greystar's Angostura project, and are
along strike. Greystar Resources' Angostura gold deposit contains a National
Instrument 43-101 ("NI 43-101") compliant measured and indicated resource of
11.5 million ounces of gold (plus 3.5 million ounces of inferred resources) as
announced by Greystar in May 2009 (click here to view Greystar Resources
Technical Report 43-101 -
Historic data collected by Galway, including 646 geochemical samples, along
with detailed mapping from Anaconda and Minercol (a government agency),
strongly suggest a continuation of the Ventana-Greystar mineral trend to the
southwest onto Galway's concessions.
    "We are extremely pleased to be able to put together such a complementary
group of gold experts to guide our team with the recently announced initiative
in the California gold trend in Santander State, Colombia. We are very excited
about combining local geologists, with intimate knowledge of the area,
together with seasoned international geologists, that have a good
understanding of the precious metals capital market. We will be releasing the
results on our 1,500 geochemical samples over the next several weeks, we are
very enthusiastic to aggressively advance this project," cites Robert
Hinchcliffe, President and CEO of Galway Resources.

    The Gold Advisory Committee will consist of:

    Larry Strauss

    Mr. Strauss (a Director of the Company) has 18 years of experience as a
mining and commodities analyst in both Canada and the United States. He was
most recently a Director at GMP Securities, where he spent seven years as a
well regarded mining analyst. During his time with GMP, the firm landed
advisory roles on mergers and acquisitions, and raised several billion dollars
for many leading international mining companies, as well as numerous junior
mining companies. During his career, Mr. Strauss has been awarded "Best on the
Street" in the Mining and Metals category by the Wall Street Journal. Earlier
in his career, Mr. Strauss worked for Canaccord Capital, Prudential Securities
and Merrill Lynch. Mr. Strauss holds an M.A., Energy and Mineral Resources
(cum laude) from the University of Texas at Austin, and a B.S., Geology
(honors) from City University of New York at Brooklyn College.

    Robert Schafer

    Mr. Schafer has 30 years of international experience in the mining
industry working with both major and junior mining companies. He is currently
Chief Business Development Executive with Hunter Dickinson Inc., a
globally-active private natural resources corporation, prior to his current
position he was the Vice President of Exploration for Kinross Gold
Corporation. Mr. Schafer also held senior exploration management positions
with both BHP World Minerals and Billiton Exploration during the 1980's and
early 1990's. Mr. Schafer is the Past President of the Mining and
Metallurgical Society of America, and Director of the Society for Mining,
Metallurgy and Exploration (S.M.E.), as well as the Prospectors and Developers
Association of Canada (PDAC). He is a past-president of the Geological Society
of Nevada and was a Councilor for the Society of Economic Geologists, and was
Trustee for the Northwest Mining Association. In 2002, the A.I.M.E. presented
Mr. Schafer with its William Lawrence Saunders Gold Medal for career
achievement. In 2007 he was elected a Distinguished Member of S.M.E. Robert
completed his undergraduate and graduate degrees in Geology and Mineral
Economics at Miami University (Ohio) and the University of Arizona.

    Michael Sutton

    Mr. Sutton has worked for 25 years in some of the largest gold Camps in
the world. He has worked in various capacities, almost entirely related to
gold mines or gold exploration. He was recently Chief Geologist and Assistant
Manager for Kirkland Lake Gold, and is currently consulting for Kirkland Gold,
Galway Resources, and as V.P. Exploration for Vault Minerals. He was
co-discoverer of the high-grade South Mine Complex at Kirkland Lake Gold, that
currently exceeds 1.5 million ounces. He was awarded the Prospector of the
Year for Ontario in 2006. Mines that Mr. Sutton has worked at include:
Witwatersrand Nigel (South Africa), Renabie (Missanabie, Ontario),
Holt-McDermott (Kirkland Lake), Hoyle Pond (Timmins), and Macassa (Kirkland
Lake). Mike is a member of the Association of Professional Geoscientists of
Ontario (P.GEO.No.0594), and a member of the PDAC since 1982. Mr. Sutton
graduated in 1984 from the University of Toronto, with an Honors Bachelor of
Science Degree in Geology.

    Rafael Silva

    Mr. Silva is a Colombian geologist with 16 years of experience
principally focused on precious metals exploration in Colombia. From March
1995 to December 2005, he worked as an exploration geologist for Greystar
Resources, eventually he was in charge of their exploration efforts that were
focused on the California trend, located in Santander State. During his tenure
with Greystar, Mr. Silva played a key role in the acquisition of more than
16,000 hectares in the Santander Gold District; planned, drilling and logging
of more than 60,000 meters of diamond drilling, geological analysis,
geological alteration maps, metallurgical sampling. Additionally, Mr. Silva
was instrumental in delineating for the company more than 4 million ounces of
gold reserves and resources. A consultant of Galway since 2007, Rafael has
work experience in many gold areas in Colombia and other countries. Rafael is
fluent in English and Spanish. Mr. Silva has a Bachelors of Science degree in
Geology from Universidad Industrial de Santander, Bucaramanga, Colombia, with
a post graduate degree as a PG Specializing in Energy Resources Management
from the Universidad Autónoma de Bucaramanga, Colombia.
    "I believe this Advisory Committee will really add value to our
exploration efforts in Colombia. The vast amount of available data coupled
with our pending results will enable us to intelligently move this project,
which is located in a dynamic and emerging gold trend forward," states Jose
Oro, Country Manager and Director of the Company for Galway in Colombia.

    Jairo Naranjo (Colombian Gold Project Manager)

    Working in diverse roles, Mr. Naranjo has over 15 years experience
principally focused on precious metals in Colombia, and he has also worked in
Guyana and Kyrgyzstan. He has extensive experience in geologic mapping,
geochemical surveys, property evaluations and exploration programs
complemented with strong GIS and Data management skills. In addition to
precious metals exploration Mr. Naranjo has also worked in oil exploration,
and has led exploration efforts in Colombia for coal, emeralds, and
construction aggregates. Prior to joining Galway Resources, Mr. Naranjo was
working as a consultant geologist for SRK Exploration Services (SRK Consulting
UK). Mr. Naranjo is also the GIS Coordinator for Galway's exploration efforts
in Colombia. Mr. Naranjo holds a Geology degree from Universidad de Caldas,
Manizales, Colombia, and is fluent in English and Spanish.

    Mike Perkins (Project Manager for Victorio, also Gold Geologist Colombia)

    Mr. Perkins has forty years of exploration and development experience in
precious and base metals. Experience includes exploration for gold in Great
Basin, southwestern Alaska and the Rocky Mountains. Mr. Perkins has special
expertise in high sulfidation environments. He has worked as a project
geologist for Anaconda at Summitville, Colorado, where he led an effort that
discovered a deposit containing 6 million ounces of gold. In addition, he
spent many years in the exploration for copper and molybdenum porphyry
deposits in the western U.S. Mr. Perkins is currently working for Galway
Resources as Project Manager for the Victorio molybdenum tungsten project
located in southwestern New Mexico, and is assisting in the Company's effort
on the precious metals front in Colombia. Mr. Perkins graduated with B.S. and
M.S. degrees in geologic sciences from the University of Colorado.

    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 or accuracy of this 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
future exploration, development and production activities, future studies and
reports, 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 use of proceeds, the timing and success of future
exploration, development and production activities, the timing and completion
of future reports and studies, 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,

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