Galway Metals Reports Positive PEA for Estrades Project

Galway Metals Inc. has announced the results of a Preliminary Economic Assessment (PEA) for their Estrades Project in Québec. Utilizing both long-term and spot pricing scenarios, the project demonstrates compelling after-tax IRRs of 33% and 61%, respectively. The assessment, conducted by BBA E&C Inc. and SLR Consulting, evaluated a toll milling scenario, although no agreement is currently in place.

At long-term metal prices, the project yields a post-tax NPV of $212 million, which increases to $518 million with spot prices. A toll mill operation requires a capital expenditure of $117 million, offering a low-cost production path with an AISC of US$1,987 per ounce. Management is considering both toll-milling and building an on-site mill.

Galway plans further optimization through a geophysical survey and drilling program supported by partner Dowa Metals and Mining Co. Ltd. Additional focus will be placed on enhancing metallurgical recoveries and infrastructure development.