TORONTO, ON / ACCESSWIRE / July 18, 2023 / Galway Gold Inc. (TSXV:GWM) (the "Company" or "Galway") is pleased to announce that it has made an application to the TSX Venture Exchange ("TSXV") to change the Company's name to "Montauk Metals Inc." (the "Name Change"). Pursuant to the Name Change, the Company's securities are expected trade on the TSXV under the ticker 'MTK'. The new CUSIP assigned to the Company's common shares following the Name Change will be 61217R101 (ISIN: CA61217R1010).

The Name Change was authorized by the shareholders of the Company at the Company's Annual General and Special meeting held on December 14, 2022. Common shares owned by shareholders of the Company will be automatically adjusted as a result of the Name Change and no further action is required to be taken by shareholders. The TSXV will publish a bulletin announcing the effective date of the Name Change.

The Name Change remains subject to final approval by the TSXV. It is anticipated that the common shares will commence trading under the Company's new name of Montauk Metals Inc. on or about July 21, 2023.

Galway Gold Inc.
Robert Hinchcliffe
1-800-761-2770

Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Galway Gold's future plans, objectives or goals, including words to the effect that Galway Gold or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Galway Gold, Galway Gold provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, TSXV approval of the Name Change and the occurrence thereof, any CUSIP and ISIN received in connection with the Name Change, and the timing of the Name Change. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to receive TSXV approval of the Name Change, the ability of relevant third parties to transition to the Company's new corporate name on or about July 21, 2023, and those risks set out in Galway Gold's public documents filed on SEDAR. Although Galway Gold has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. There can be no assurance that forward-looking information will prove to be accurate. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding Galway Gold's plans, objectives, and goals and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Galway Gold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Galway Gold Inc.