Galahad Metals Inc.

Galahad Metals Inc.

April 30, 2010 18:09 ET

Galahad Metals Inc.: Shares for Sidex Interest & Principal

OTTAWA, ONTARIO--(Marketwire - April 30, 2010) - Galahad Metals Inc. (TSX VENTURE:GAX)("Galahad" or the "Company") announced today that, subject to TSX-V approval, the company has entered into an agreement with SIDEX s.e.c. to repay the principal of $150,000 and the interest of $8,975.34, due on a convertible debenture agreement between SIDEX s.e.c and Galahad, in shares in lieu of cash. The interest due has been calculated based on weighted average of means price of shares to equal the issuance of 89,480 shares valued at $0.10031 each and the principal has been calculated based on the closing price of the common shares of the "Company" on April 29, 2010 to equal 1,500,000 shares valued at $0.10 each. These calculations were part of the original agreement, details of which were released in the Company's Press Release # 08-07 dated April 29, 2008.

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"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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