Galahad Metals Inc.

Galahad Metals Inc.

June 02, 2009 16:11 ET

Galahad Metals Inc.: Contractor Shares Proposed Issue

OTTAWA, ONTARIO--(Marketwire - June 2, 2009) - Galahad Metals Inc. (TSX VENTURE:GAX) ("Galahad" or the "Company") announced today that, subject to TSX-V approval, and the approval of the shareholders at the Annual General and Special Meeting, called for July 24, 2009, Galahad proposes to issue 575,000 common shares at a price of $0.10 to certain contractors in lieu of cash for services.

Robin Dow, CEO is to receive 425, 000 shares in lieu of management fees of $42,500 and Paul Pitman, P. Geo. is to receive 150,000 shares in lieu of $15,000 of consulting fees.

For more information about Galahad Metals please visit our website:

"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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