Galahad Metals Inc.
TSX VENTURE : GAX

Galahad Metals Inc.

December 09, 2010 10:30 ET

Galahad Receives Initial Assay Results from Regcourt Property

OTAAWA, ONTARIO--(Marketwire - Dec. 9, 2010) - Galahad Metals Inc. (TSX VENTURE:GAX) is pleased to announce excellent initial assay results from the current exploration program at its wholly-owned Regcourt Gold Project. The Regcourt Property is 30 km east of Val-d'Or, Québec, and consists of 53 claims covering over 32 km2 in the eastern part of the Abitibi Greenstone Belt. The assays are from core samples of the recently completed drilling campaign, which comprised nine (9) holes, between 200 m and 350 m long, totaling 2,342 metres.

Initial logging of the core was completed at the facilities of MRB & Associates of Val-d'Or. The preparation and assaying of core samples is ongoing. To date, 249 samples have been submitted to ALS Chemex Laboratories in Val-d'Or, QC. Selected highlights of the results to date are provided below; further results are pending.

Best Results to date from 140 samples  
   
Hole From (m ) To (m ) Interval (m ) Au (ppm or gpt )
RG10-01 176.3   176.8   0.5   1.6  
                 
RG10-02 142.0   147.0   5.0   19.2  
including 143.0   143.5   0.5   52.3  
and 143.5   144.6   1.1   57.2  
                 
RG10-03 225.0   226.0   1.0   9.2  
  288.0   288.9   0.9   82.8  
  295.8   297.0   1.2   2.4  
                 
RG10-08 180.3   183.4   3.1   0.7  
  196.0   197.0   1.0   4.2  

Samples with gold concentrations between 2.0 ppm and 10.0 ppm are being check-assayed, whereas those with higher concentrations are being re-assayed by metallic-screen methods to confirm values.

The current exploration program is being supervised by John Langton M.Sc., P. Geo, of MRB & Associates, who 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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