Galahad Metals Inc.
TSX VENTURE : GAX

Galahad Metals Inc.

November 17, 2010 13:04 ET

Galahad Energizes Exploration Efforts for Rare Earths at Kellyn Claims, NW Ontario

OTTAWA, ONTARIO--(Marketwire - Nov. 17, 2010) - Galahad Metals Inc (TSX VENTURE:GAX) announces that it will initiate aggressive exploration for rare earths on its Kellyn claim group located in northwestern Ontario. Previously discovered in 2009 sampling of various rock types above old workings with exposed quartz veining ("the Elgin Adit area") were found to be enriched in rare earth elements. Historical values of grab sampling from the Adit veins assayed up to 22g/t gold and 62.5g/t silver (PR #09-24, October 26, 2009) but the workings date back to the early 1900s. Eight rock samples from a stripped zone ranged from 0.23 to 1.92% total REE; three of which were in excess of 1% total rare earths. Geologically the REE-enriched zone occurs in a highly strained zone of gabbroic rocks near the contact with the Terrace Bay batholith. The number of samples is presently limited and only a small portion of the claim group was examined by line cutting and a soil geochemical survey in 2009. With available financing a more agressive program of prospecting will begin over the entire claim holdings to determine the property's REE potential.

In addition to the Adit trenches soil sampling outlined a large copper-gold-silver-REE soil anomaly that requires additional prospecting prior to stripping or trenching. The soil defined anomaly is very distinct and covere an area of at least 75,000m2. This anomaly is best represented by copper and REEs and elevated gold/silver values. Geological consultants believe this area may be the core of a mineralized system. No outcrops were observed in this defined area as the soil results were not available at the time thus the host minerals for the anomalous REE contents is unknow. Prospecting in 2009 was carried out only on widely spaced cut lines due to severe topography and heavy forest cover. The anomaly, however, is discreet and sharply defined and not likely transported from source.

Future work will initially include detailed prospecting in the Elgin Adit and within the soil geochemical anomaly as well as general prospecting over the remainder of the claims. Trenching and/or stripping will follow. If disseminated in character, an I.P. survey may be carried out. At least two diamond drill targets have already been defined on gold-silver occurrences.

Paul Pitman, P.Geo, is the Qualified Person as defined by National Instrument 43-101 for the Kellyn Project. 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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