Galahad Metals Inc.
TSX VENTURE : GAX

Galahad Metals Inc.

September 11, 2009 13:04 ET

Galahad Metals Completes Private Placement

OTTAWA, ONTARIO--(Marketwire - Sept. 11, 2009) - Galahad Metals Inc (TSX VENTURE:GAX) announced that the Company has completed the private placement of 1,662,500 units of the Company ("Units") at a price of $0.08 per Unit for gross proceeds of up to $133,000. Each Unit consists of one common share of the Company and one common share purchase warrant. Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.12 per common share exercisable on or before August 1, 2014.

The gross proceeds from the private placement will be used to pay the Board of Land Management fees on the Bottle Creek NV property and to provide the Company with additional working capital.

All securities issued in connection with this financing are subject to a four-month hold period expiring January 9, 2010.

The following insiders have participated in the issue.

Robin Dow, CEO, purchased 500,000 shares/$40,000

Toni Wallis, Director, purchased 100,000 shares/$8,000

For further information, please go to www.galahadmetals.com

"The statements in this Press Release may contain forward looking statements that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not approved or disapproved of the information contained in this Press Release."

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