Galahad Metals Inc.

Galahad Metals Inc.

May 21, 2009 15:20 ET

Galahad Metals Inc.: Shares for SIDEX Interest

OTTAWA, ONTARIO--(Marketwire - May 21, 2009) - Galahad Metals Inc. ("Galahad" or the "Company")(TSX VENTURE:GAX) announced today that, subject to TSX-V approval, the company has entered into an agreement with SIDEX s.e.c. to pay interest, due on a convertible debenture agreement between SIDEX s.e.c and Phoenix, in shares in lieu of cash. The interest due has been calculated to equal the issuance of 81,316 shares valued at $0.11 each.

"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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