Galahad Metals Inc.

Galahad Metals Inc.

February 22, 2012 09:00 ET

Galahad Approvals & Permits Received: 2012 Phase One Drill Programme Launched at Regcourt

OTTAWA, ONTARIO--(Marketwire - Feb. 22, 2012) - Galahad Metals Inc. ("Galahad") (TSX VENTURE:GAX) is pleased to announce today that all permits and approvals have been successfully obtained for Phase 1 of the diamond-drill programme at its Regcourt Property, 30 km east of Val-d'Or, Quebec.

Forage Orbit Garant Drilling has been contracted to complete Phase 1 of the 2012 programme, which will comprise four holes of approximately 350 metres each, totaling approximately 1400 metres. The drill rig is currently being mobilized to the Project site.

Mike Zamora, President of Galahad stated "We are very excited to re-commence drilling at Regcourt. We are confident that this drill programme will help us to better understand the characteristics of the gold-bearing quartz-vein system at depth. Our intent is to aggressively drill Regcourt in order to prove up a significant resource."

MRB & Associates (MRB) of Val-d'Or, QC, are managing the operations of the Regcourt Project and have designed the 2012 drill programme using a Gemcom 3-D model of the Project. The mineralization model has been updated with results from Galahad's previous drill programmes.

The current exploration programme is being supervised by John Langton (P.Geo) of MRB, a Qualified Person as defined by National Instrument 43-101 for the Regcourt Project, who has approved the contents of this release.

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. 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 Press Release.

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