Galahad Metals Inc.

Galahad Metals Inc.

December 13, 2010 09:30 ET

Galahad Completes Down-Hole Geophysical Survey at Regcourt Property

OTTAWA, ONTARIO--(Marketwire - Dec. 13, 2010) - Galahad Metals Inc. (TSX VENTURE:GAX) is pleased to announce that a Hole-to-Hole 3D IP survey has been completed in all nine new drill holes on its wholly-owned Regcourt Gold Project, situated 30 km east of Val-d'Or, Québec. The down-hole geophysical survey was carried out by Abitibi Geophysics Ltd. of Val-d'Or, from December 6-9. The Regcourt Property consists of 53 claims covering over 32 km2 in the eastern part of the Abitibi Greenstone Belt.

Robin Dow, CEO reports: "the news on Regcourt just keeps getting better and better. The 5 meter interval of 19.2 g/t Au in hole RG10-02 reported last week (Press Release 9.12.10), was simply astounding. It is the first significant mining width encountered, and the interval is situated below previous drilling, but still at a shallow 142 m. The down hole 3-D IP should permit Galahad to be able to use the geophysical signature of previous gold bearing intervals as a guide to identifying future deeper targets with much more precision."

The survey was proposed to help identify quartz-tourmaline veins that are mineralized with gold-bearing sulphides and free gold, around and below the area of the historically active Regcourt Mine. The Hole-to-Hole 3D IP allows mapping of targets deeper than bottom of the nine drill holes, and the data can be processed to deliver an integrated 3D image of potential targets prior to drilling.

Abitibi Geophysics will process and interpret the collected data from the survey and recommend additional targets for diamond-drilling.

Excellent analytical results from the recently completed diamond-drilling program continue to be received from ALS Chemex Laboratories, and complete results are expected to be announced mid-January.

The 2010 exploration programme at the Regcourt Property is designed to explore and validate historic drill- and underground-intersections around the abandoned Regcourt Mine. A digital compilation of the historic data indicates that the mineralized vein system continues below the historic workings, which only reached 165 metres vertical depth.

The current exploration program is being supervised by John Langton M.Sc., P.Geo, of MRB & Associates, Val-d'Or, who is the Qualified Person as defined by National Instrument 43-101 for the Regcourt Project. Mr. Langton has approved the contents of this release.

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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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