Elko, Nevada: February 19, 2007 – Galway Resources Ltd. (GWY: TSX-V) (“Galway Resources” or the “Company”) is pleased to announce that it has, subject to regulatory approval, engaged Brisco Capital Partners Corp. (“Brisco”) of Calgary, Alberta as its investor relations consultant. Under the terms of the engagement, Brisco will assist in developing a comprehensive communications program targeted towards the investment community which includes investment funds, retail brokers, as well as individual investors.
“We are very pleased and excited to be embarking on this new relationship with Brisco. With our team in-place and as we continue to advance our projects, we believe that Brisco will provide the Company with the proper platform to begin to attain a more proper valuation of our share price to better reflect the potential of our asset base. We look forward to Brisco introducing the Company to a host of new shareholders and investors in Canada, and elsewhere,” said Robert Hinchcliffe, President and CEO of Galway Resources.
Brisco takes a full-service approach to investor relations and provides creative, effective, results-driven investor relations programs for Canadian public companies. Led by Graeme Dick and chaired by Scott Koyich, Brisco will heighten awareness of the Company with the Canadian retail and institutional investment community.
“Galway’s experienced management team and their three strategically located US based exploration projects coupled with solid news flow makes for a compelling story. A story we are anxious to introduce to our network”, stated Graeme Dick of Brisco.
Brisco has been engaged, initially, for a one year period for approximately $70,000 per annum. In addition, the Company will grant to Brisco incentive stock options to purchase up to 145,000 shares of the Company at $0.83 per share.
The Company advises that Tim Searcy has resigned from the Board of Directors but will continue to provide consulting services to the Company. The Company recognizes the solid contribution that Mr. Searcy has provided to Galway Resources and wishes him well in future endeavours.
About the Company
Galway Resources is focused on developing three U.S. based exploration projects that are favorably located with respect to infrastructure and have over 300,000 feet of historical drilling. We have established a solid technical team that has compiled all the historical data and is now advancing these projects in an aggressive but cost effective manner. Management believes that its strategic portfolio of properties offers investors an interesting exposure to a unique blend of commodities.
For further information contact:
Galway Resources Ltd.
President and Director
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
Forward Looking Statements:
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of transactions, the timing and amount of payments and share issuances, the completion of financings, the use of proceeds, future exploration, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated transactions, payments, share issuances and financings, the use of proceeds, the time and success of future exploration, development and production activities and the timing and amount of expenditures.