Galahad Metals Inc.
TSX VENTURE : GAX

Galahad Metals Inc.

September 22, 2010 10:05 ET

Galahad Prepares for Regcourt Drilling

OTTAWA, ONTARIO--(Marketwire - Sept. 22, 2010) - Galahad Metals Inc. ("GAX") (TSX VENTURE:GAX) is pleased to announce that technicians from the geological consulting firm of MRB & Associates (MRB) of Val-d'Or (Quebec) have visited the Regcourt Property, confirmed that the site is suitable for a fall diamond-drilling programme, and have proceeded to spot the drill-collar locations.

On behalf of Galahad, MRB has also initiated discussions with local First Nation representatives to secure permission to drill in the area, which falls within their traditional hunting grounds. Early indications are that the drill program will be permitted to proceed as planned; however, Galahad has decided to delay commencement of drilling until October 25th, so as not to interfere with the local moose hunting season.

The planned exploration campaign will comprise 9 holes and total 2,350 metres. The programme is designed to explore and validate historic drill- and underground-intersections around the abandoned Regcourt Mine, and to target the projected downward extensions of veins and other planar mineralized structures, especially along their interpreted, linear intersection zones.

As previously reported by Galahad, the gold mineralization at the historic Regcourt Mine is hosted in shear-zone-associated quartz veins in close proximity to a granodiorite intrusion, typical of many of the gold mines in the Val d'Or Gold Camp. A preliminary review of the historic data, projected in a 3-D model, indicates that the mineralized vein system continues below the historic workings, which only reached 165 metres.

The Regcourt deposit was discovered on surface in 1944 with the principle vein yielding an average gold grade of 8.13 g/t over an average width of 0.76 m along a strike length of 67 m. Underground development from 1944-46 comprised excavating a 544 foot shaft and 1,317 feet of cross-cuts and drifts that allowed underground exploration of the deposit. An historic mineral inventory of 61,000 tonnes gold @ 5.49 g/t (10,766 ounces Au) was estimated by a Toronto-based consulting firm in 1983. As this is an historical estimate and was not prepared in compliance with the NI 43-101 requirements, it cannot be relied on.

John Langton M.Sc., P. Geo, of MRB & Associates, Val d'Or, QC., is the Qualified Person as defined by National Instrument 43-101 for the Regcourt Project and has approved the contents of this release.

"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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