Galw Galway Go Golds lds Vetas P s Proj oject Sant ntand - - PowerPoint PPT Presentation

Galw Galway Go Gold’s ld’s Vetas P s Proj

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Sant ntand nder S State, Col

• lomb
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TSX-V:GLW

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FORWARD-LOOKING STATEMENT

Certain disclosures in this presentation, including management’s assessment of Galway Gold’ plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors beyond Galway Gold’s ability to predict or control. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, timing and availability of external financing on acceptable terms, the uncertainties involved in interpreting geological data and confirming title to recently acquired properties, the possibility that future exploration results will not be consistent with Galway Gold’s expectations, increases in costs, environmental compliance and changes in environmental and other local legislation and regulation, interest rate and exchange rate fluctuations, changes in economic and political conditions and other risks involved in the gold and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this

• presentation. Such statements are based on a number of assumptions that may prove to be incorrect, including, but

not limited to, assumptions about the following: the availability of financing for Galway Gold’s exploration and development activities; operating and exploration costs; the Company’s ability to retain and attract skilled staff; timing of the receipt of regulatory and governmental approvals for exploration projects and other operations; market competition; and general business and economic conditions.

The forward looking statements contained in this document are based on what management believes to be

reasonable assumptions, however, forward-looking statements involve known and unknown risks, uncertainties and

• ther factors that may cause Galway Gold’s actual results, performance or achievements to be materially different

from any of its future results, performance or achievements expressed or implied by forward-looking statements. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or

• therwise revise any forward-looking statements whether as a result of new information or future events or
• therwise, except as may be required by law. If the Company does update one or more forward-looking statements,

no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law.

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CORPORATE OVERVIEW

• Galway Gold is a well-capitalized company focused on the exploration of gold in

the historic Vetas gold district of northeast Colombia where mining dates back

• ver 400 years
• Vetas is located just 8-km southeast of the multi-million ounce, world-class

California gold district

• Galway Gold’s predecessor company, Galway Resources, sold its interests in

California plus a 10% interest in Galway Gold to AUX Canada (Eike Batista) for approximately $340 million in cash

• Galway embarked on very successful underground and surface drilling

campaigns at Vetas in which over 46,000 meters in 91 holes were completed

• In the 68 underground drill holes in the El Volcan mine, Galway reported that 171

samples sent to the lab returned gold values of 10 g/t or more, which equates to 2.5 times per drill hole

• Measured and Indicated resource of 224,900 oz Au at 10.5 g/t and Inferred

resource of 377,000 oz Au at 10.3 g/t identified through underground drilling at El Volcan

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CORPORATE OVERVIEW

• The Reina de Oro option agreement is for Galway to pay 1.5% of the value of

Measured and Indicated gold and silver resources, which equated to $4.3 million as of the date of option expiry

• Galway had $10.1 million in cash at September 30, 2015
• Galway sought to exercise its option to acquire the Reina de Oro concession,

which hosts the El Volcan Mine, but was rejected by landowners

• Galway received a favorable ruling in arbitration and was awarded damages of

COP$79,341,923 (approximately US$35,000) per month from December 18, 2013 until February 13, 2015 for a total of approximately US$490,000.

• Under terms of this award, owners of the Reina de Oro concession were required

to make the payment for damages by February 20, 2015.

• Payment was not received by the required date and therefore Galway has

proceeded with legal action to collect the payment of damages.

• The option agreement remains in effect until title can be transferred into

Galway’s name, which is anticipated to require several months.

• Galway is committed to Building High-Grade Value, Ounce-by-Ounce

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Galw alway R Resources – AUX UX De Deal: al: Excell llent V Valu alue for Galw alway Sh Shar areholders Cash Plus Growth in Two New Cash-Rich SpinCo’s

For Each Galway Resour sources Share, Sharehol

• lders Re

Receive ved:

• $2.05/share cash
• 1.0 share in Galway Gold to hold Vetas with US$18 million cash
• 1.0 share in Galway Metals to hold Victorio with US$12 million cash
• The combined US$30 million cash is worth $0.20/share; total cash from AUX is $2.25/share, or

$340 mm

• AUX received Galway’s California concessions and 10% of Galway Gold

Vetas: Hi High-Gr Grad ade Gol

• ld-Silve

ver Syste tem; Excellent Explor

• ration Resul

sults at El Vol

• lcan Min

ine

• Excellent gold-silver resource potential in high-grade veins; maiden resource reported Nov 2013
• El Volcan system drill-defined along 550 m of strike; open to at least 1.25 km
• Gold intersected 600 m below lowest level of El Volcan mine, or 900 m below surface; open to

depth, along strike and laterally

• 16 sub-parallel and sub-vertical veins in competent host rock; bulk-tonnage low-cost underground

mining

• Upside beyond El Volcan mine block: 6 anomalies, including western border with CB Gold

AUX ACQUISITION

CAPITAL PROFILE

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• Market cap 3/1/16: C$9m
• Shares issued and outstanding: 166,511,932
• 52 week high-low: C$0.12 - C$0.04
• Share price as of 3/1/16: C$0.05
• Cash: US$10.1m (September 30, 2015), $0 debt
• Ownership position:

AAV (Mubadala): 17% Institutions: 30% Management, family, friends: 15%

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COLOMBIA – VAST GOLD POTENTIAL

• 80 million ounces of gold have

been discovered in the past 10- 15 years, accounting for about 10% of the discoveries worldwide in that time.

• Early mover advantage enabled

Galway Gold to secure an excellent property package in Vetas

• Other discoveries include

Angostura, Gramalote, Marmato, La Colosa and AUX’s (Ventana) La Mascota/La Bodega

• The country hosts 4 prolific gold

trends

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VETAS GOLD DISTRICT

Reina de Oro

• El Volcan

Mine

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All option payments of US$1,642,500 and 1,200,000 shares have been made. Only the exercise payment remains. Option exercise payment to earn 100% of the Vetas project is 1.5% of the gold and silver values of Measured and Indicated gold resources, payable in cash and/or stock, at Galway Gold’s discretion.

VETAS DEAL TERMS

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• 5 g/t Au or more, 282 times
• 50 g/t Au or more, 36 times
• 10 g/t Au or more, 171 times
• 100 g/t Au or more, 16 times
• 20 g/t Au or more, 84 times
• 150 g/t Au or more, 9 times
• 30 g/t Au or more, 50 times
• 1,000 g/t Au or more, 2 times

High High h hit it r rat atio in in 68 u undergr ground d drill h ill hole les:

VETAS HIGHLIGHTS

• The largest gold and silver mine in the Vetas district, producing for over 400 years, metallurgical

recoveries 80%-90% with artisanal mill

• Exploration efforts are looking for strike, lateral and vertical extensions of mineralized veins;

16 veins now identified - double the original 8 previously known; mineralization open in all directions

• Mineralization drill intersected along 550 m of strike, 250 m of width and 600 m below the

lowest level of the mine (the main, or Reina de Oro level), or to 900 m below surface

• 2,000 meters of accessible underground workings enable quick geological advancement
• Galway is the first company to carry out a modern geological exploration program; over 46,000

meters in 91 holes have been completed

• Measured and Indicated resource of 224,900 oz Au at 10.5 g/t and Inferred resource of 377,000
• z Au at 10.3 g/t

RPA RESOURCE ESTIMATE ON VETAS BASED ON 33,238 METERS IN 68 U/G DRILL HOLES

Category Tonnes Grade Contained Ounces (g/t Au) (g/t Ag) (oz Au) (oz Ag) Measured 23,900 7.79 12.4 6,100 9,400 Indicated 641,000 10.62 14.9 218,800 307,700 Measured & Indicated 664,900 10.52 14.8 224,900 317,100 Inferred 1,146,000 10.30 15.3 377,000 563,000 TABLE 1: MINERAL RESOURCE ESTIMATE SUMMARY*

Measured Indicated Vein Name Tonnes Au g/t Ag g/t Ounces (Au) Ounces (Ag) Tonnes Au g/t Ag g/t Ounces (Au) Ounces (Ag) BURRO 137,000 11.89 14.1 52,400 61,900 CORTEROS 3,800 6.18 12.4 800 1,500 GREEN 101,000 8.52 12.8 27,700 41,700 LOSCAS 5,400 7.31 12.2 1300 2,100 61,100 10.43 10.2 20,500 20,100 LOSCAS FW 62,700 10.45 12.7 21,000 25,700 MANZANILLA 10,300 10.24 14.4 3400 4,700 195,800 11.28 18.8 71,000 118,200 TAJO 4,400 4.05 8.2 600 1,100 83,400 9.78 15.0 26,200 40,100 VIRGEN 1 Totals 23,900 7.79 12.4 6,100 9,400 641,000 10.62 14.9 218,800 307,700 Measured & Indicated Inferred Vein Name Tonnes Au g/t Ag g/t Ounces (Au) Ounces (Ag) Tonnes Au g/t Ag g/t Ounces (Au) Ounces (Ag) BURRO 137,000 11.89 14.1 52,400 61,900 139,000 8.8 15.0 39,000 67,000 CORTEROS 3,800 6.18 12.4 800 1,500 150,000 18.7 26.3 90,000 127,000 GREEN 101,000 8.52 12.8 27,700 41,700 57,000 6.6 9.8 12,000 18,000 LOSCAS 66,500 10.18 10.4 21,800 22,200 150,000 7.1 8.8 34,000 42,000 LOSCAS FW 62,700 10.45 12.7 21,000 25,700 68,000 7.5 13.8 16,000 30,000 MANZANILLA 206,100 11.22 18.5 74,400 122,900 211,000 8.6 20.3 58,000 137,000 TAJO 87,800 9.50 14.6 26,800 41,200 126,000 8.7 13.8 35,000 56,000 VIRGEN 1 245,000 11.8 10.9 93,000 86,000 Totals 664,900 10.52 14.8 224,900 317,100 1,146,000 10.3 15.3 377,000 563,000

RESOURCE BROKEN DOWN BY VEIN

*Refer to the press release dated November 27, 2013 for notes associated with the resource estimate

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INITIAL GEOLOGICAL MODEL TO TEST FOR STRIKE, LATERAL AND VERTICAL EXTENSIONS TO VETAS’ EL VOLCAN MINE

FIRST STEP WAS TO CHANNEL SAMPLE EXISTING TUNNELS IN EL VOLCAN MINE

13 Vein Average Gold Sample Grade (g/t Au) Average Silver Sample Grade (g/t Ag) Average Width (m) Total Strike (m)

Reina de Oro Level

Corteros Vein 17.0 66.1 0.99 98.9 including 142.2 442.8 0.80 8.3 Loscas Vein 80.7 48.2 0.95 124.9 including 250.9 75.5 1.00 33.0 which includes 2,744.9 488.0 0.90 2.4 Manzanilla Vein 49.5 99.7 0.99 219.2 including 91.0 168.7 1.10 81.7 which includes 905.6 829.4 0.98 5.0 Chocolatua Vein 4.8 4.5 1.04 56.4 Tajo Abierto Vein 7.3 25.6 1.03 115.3 Total Reina Level 37.9 60.8 0.99 614.7

Tajo Abierto Level

Manzanilla Vein 24.8 47.6 1.17 202.6 including 211.5 295.7 0.90 9.0 Burro Vein 6.1 5.6 1.20 13.1 Tajo Abierto Vein 19.1 26.5 1.20 137.0 Hueso Duro Vein 15.8 15.8 0.99 103.0 Ancha Vein-Lower 26.1 23.4 1.35 72.5 Ancha Vein-Upper 20.9 33.6 1.10 34.8 Total Tajo Level 21.5 31.9 1.17 563.0

HIGHLIGHTS OF VETAS DRILL RESULTS

Hole ID From (Meters) To (Meters) Interval (Meters) Au Ag Vein Name-Notes g/t g/t GWY-V002 159.10 168.50 9.40 9.7 37.4 El Burro 182.24 184.85 2.61 17.2 31.1 Tajo Abierto-VG GWY-V003 105.46 112.19 6.73 21.9 63.0 Manzanilla including 105.46 106.98 1.52 69.1 81.6 Manzanilla 146.48 149.14 2.66 82.5 39.1 El Burro-VG including 146.48 147.55 1.07 202.0 53.5 El Burro-VG GWY-V006 52.12 52.79 0.67 64.4 110. New- VG 88.09 89.16 1.07 138.0 21.3 Loscas-VG GWY-V010 119.58 121.92 2.34 45.8 375.9 Manzanilla-VG including 119.58 120.58 1.00 89.3 144.0 Manzanilla-VG GWY-V012 88.77 100.21 11.44 15.3 36.5 Green including 91.14 92.06 0.92 112.3 34.2 Green-VG 127.61 134.81 7.20 12.8 11.0 Manzanilla-VG including 130.49 131.61 1.12 67.2 34.5 Manzanilla-VG GWY-V014 105.16 110.62 5.46 17.9 8.2 Loscas including 109.42 110.62 1.20 46.8 22.5 Loscas 156.77 157.77 1.00 106.8 100.0 Green-VG GWY-V015 80.77 84.24 3.47 40.4 6.7 Tajo Abierto including 80.77 82.03 1.26 84.9 12.0 Tajo Abierto 108.20 117.64 9.44 6.6 1.3 El Burro 311.25 312.45 1.20 104.4 16.0 La Virgen 1-VG GWY-V016 140.75 143.91 3.16 78.2 12.6 Loscas-VG including 142.95 143.91 0.96 248.3 38.0 Loscas-VG GWY-V017 115.70 118.37 2.67 24.12 38.0 El Burro-VG including 115.70 117.03 1.33 42.0 306.0 El Burro-VG 199.43 203.50 4.07 28.3 8.1 Loscas-VG including 202.05 203.50 1.45 61.7 9.0 Loscas-VG GWY-V018 93.26 94.24 0.98 92.2 18.0 Loscas FW-VG GWY-V021 49.60 50.73 1.13 77.1 51.3 Loscas HW 78.76 80.02 1.26 95.6 16.9 Loscas FW 133.19 134.40 1.21 1082.6 718.0 Manzanilla-VG GWY-V026 159.36 160.52 1.16 679.6 164.0 Manzanilla GWY-V027 82.43 83.34 0.91 1034.3 300.0

Loscas FW-VG

277.58 280.96 3.38 27.4 7.2

Tajo Abierto

including 279.80 280.96 1.16 49.4 11.0

Tajo Abierto

GWY-V029 166.12 167.37 1.25 203.4 1311.0

Green

Hole ID From (Meters) To (Meters) Interval (Meters) Au Ag Vein Name-Notes g/t g/t GWY-V031 93.50 96.01 2.51 40.0 34.76

Loscas HW

including 94.80 96.01 1.21 69.4 56.0

Loscas HW

GWY-V036 351.02 355.17 4.15 157.4 76.9

Manzanilla

including 351.02 352.35 1.33 470.2 142.0

Manzanilla

GWY-V040 115.82 121.92 6.10 14.0 7.6

Green

including 116.74 117.74 1.00 52.0 29.1

Green-VG

GWY-V041 200.06 203.47 3.41 40.13 35.8 Manzanilla including 202.21 203.47 1.26 94.26 55.0 Manzanilla GWY-V046 279.88 280.41 0.53 283.6 99.0 Green-VG GWY-V049 157.73 158.98 1.25 66.7 16.0 Tajo Abierto HW 320.87 327.31 6.44 34.3 83.0 Corteros Including 320.87 322.17 1.30 98.8 154.0 Corteros 335.66 347.47 11.81 8.9 3.8 Corteros including 344.10 345.42 1.32 52.9 2.0 Corteros GWY-V053 91.19 93.58 2.39 41.8 102.0 Manzanilla including 91.19 92.44 1.25 76.6 102.4 Manzanilla GWY-V059 290.28 291.45 1.17 143.7 216.0 Corteros FW-VG GWY-V064 142.31 146.30 3.99 31.61 7.82 Green-VG including 142.31 143.56 1.25 94.2 13.0 Green-VG GWY-V073 211.75 212.75 1.00 106.0 90.0 Loscas-VG GWY-V078 222.82 224.07 1.25 45.5 25.0 Manzanilla GWY-V078 233.00 237.36 4.36 27.2 10.8 Green including 236.42 237.36 0.94 92.4 22.0 Green 287.42 288.42 1.00 127.8 41.0 Loscas HW GWY-V081 167.33 168.55 1.22 174.4 67.0 Tajo Abierto HW

Vetas Surface Drilling

GWY-VS028 208.62 210.00 1.38 17.4 3.7 La Araña-VG including 209.49 210.00 0.51 45.2 5.0 La Araña-VG 493.83 506.21 12.38 4.0 2.8 Piedra Colorada including 493.83 495.41 1.58 7.8 5.0 Piedra Colorada including 496.37 497.34 0.97 12.0 2.0 Piedra Colorada-VG including 503.91 506.21 2.30 8.3 2.8 Piedra Colorada-VG GWY-VS061 302.65 306.84 4.19 26.0 26.9 El Brinco including 302.65 303.65 1.00 105.0 76.6 El Brinco-VG 374.58 375.92 1.34 29.2 6.2 New *True widths are 18%-98% of down-hole widths

3D EL VOLCAN MINE MODEL

New view of 3D vein interpretation from El Volcan Mine-Vetas project. 16 veins intercepted with gold values up to 1,084.6 g/t Au. Initial drilling intersected El Volcan’s veins over 0.41 km of strike. Potential exists to extend strike to at least 1.25 km. Drillholes show the first underground drilling campaign (33,238 m drilled in 68 drill holes)

EL VOLCAN DRILLING AND STRIKE POTENTIAL

EL VOLCAN DRILLING AND DEPTH EXTENSION POTENTIAL; MANY VEINS OUTCROP AT SURFACE

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NEXT STEPS: MOVE DRILLS NORTH TO PADS 3 AND 4 – EXTEND STRIKE NORTH; DRILL WESTERN BOUNDARY

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SURFACE PRIORITY TARGETS INTRUSIVE ZONE, ADDITIONAL ANOMALIES WILL BE TESTED

PROJECTION OF VETAS VEINS ON SURFACE

(Looking South-West)

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SANTURBAN AREA REGIONAL PARK

SOCIAL AND ENVIRONMENTAL RESPONSIBILITY

• Galway Gold’s Department of Environmental Safety ensures

proper management of natural resources, including:

• air, water, soil, flora and fauna, such that activities generate

the least impact possible on the landscape and ecosystem

• the proper classification and disposal of solid waste and

recyclable materials generated in the Company’s exploration efforts

• Regular meetings held with the local community to promote

community awareness and involvement

• Employees in environmental dep’t Vetas-6
• It is the Company’s objective to hire and train local personnel

wherever possible

• Galway Gold surveys its personnel to identify professional and

personal goals and attempts to align these goals with Company objectives wherever practicable

• Galway Gold provides training to improve the professional

development of its employees

• Galway Gold implements activities to involve employee

families, such as:

• Training and Company activities for the families of

employees

• Financial aid for college-age employee children
• Sponsorship of sports teams

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MANAGEMENT AND DIRECTORS

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Rober ert H Hinch nchcliffe e – CEO, EO, Direc ector & & Pr Princ ncipal

• Mr. Hinchcliffe has over 25 years working in the mining industry and has been directly involved in capital raises and

transactions in excess of $600 million. Mr. Hinchcliffe founded Galway Resources in 2005 and went on to raise over $100 million and successfully negotiate the sale to AUX for $340 million and establish two new, well capitalized, spinout companies. Prior to that, he worked as Chief Financial Officer of Kirkland Lake Gold, wherein the company raised over $50 million in funds to re-commission the Kirkland Lake Gold Mine. Kirkland Lake currently has a market value of approximately CDN$500 million and produces approximately 150,000 ounces per year. He also worked for seven years on Wall Street as a Mining Analyst for Prudential Securities, SG Cowen, and Santander Investment, covering U.S., International, and Latin American mining companies, in addition to other sectors. Prior to that he spent 4 years working for Jordex Resources in Venezuela where he played a primary role in the identification and then development of a nickel deposit which was later sold for $65 million to Anglo American.

• Mr. Hinchcliffe has a M.B.A. from Georgetown University, and a B.A. in Economics from the University of Arizona

(with a concentration in Mining & Geology). Mr. Hinchcliffe is also fluent in Spanish. Alfons nso G Gomez mez – Colombia ia Coun untry y Manage ger, D Directo tor

• Mr. Gómez has over 30 years working in the resource sector, holding various positions with prominent international

mining companies in Colombia. Mr. Gómez was a director for Galway Resources and is currently the Colombia Country Manager and Director for Galway Gold, in charge of its efforts in Colombia regarding financial, legal, permitting, environmental and community affairs among other areas. Before joining the Corporation, Mr. Gómez was Vice President of Operations for Prodeco and Vice President of Public Affairs of Carbones del Cerrejon, one of the world's largest coal producers and owner of one of the largest coal mines in the world, producing approximately 35 million tons per year.

• Mr. Gómez has a degree in Economics from El Rosario University in Bogota and a Masters in International

Commerce from the Istituto nazionale per il Commercio Estero – ICE, Rome, Italy. Mr. Gómez is also an honorary member of the board of the National Federation of Colombian Miners. In addition to speaking Spanish, Mr. Gómez is fluent in both English and Italian.

MANAGEMENT AND DIRECTORS

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Mi Mike Su Sutto tton – Chief ef, G Geolog

• gist,

t, I Indepen enden ent Direc ector tor

• Mr. Sutton’s career spans over 25 years as an exploration geologist. Mr. Sutton has worked in some of the largest gold

camps in the world, including Witwatersrand, Timmins, and Kirkland Lake, serving in various capacities related entirely to the exploration and mining of gold. Mr. Sutton was awarded the Prospector of the Year for Ontario (along with Stew Carmichael) for the discovery of the South Mine Complex while he was Chief Geologist and Assistant Manager at Kirkland Lake Gold Inc. He guided Vault Minerals as Vice President of Exploration to a takeover by Queenston Mining

• Inc. He has since worked as Senior Geologist (Consultant) at Queenston, Osisko, and now Canadian Malartic. Previous to

that, he worked for Kinross, Barrick, Lac Minerals, and Corona. Mr. Sutton is a Director of several companies. He has undertaken over 100 mineral property appraisals and evaluations. He was a Director of Galway Resources, where he played a significant role in the company’s take over by AUX for $340 million. As Director of a spin-out company, Galway Gold, he has overseen exploration work at Vetas, Colombia. Mr. Sutton has successfully signed numerous option agreements for his own claim blocks. He is a member of the Association of Professional Geoscientists of Ontario and has been a member of the Prospectors and Developers Association of Canada since 1982.

• Mr. Sutton graduated in 1984 from the University of Toronto with a B.Sc., Geology (honours).

Larry Str y Strauss – Vice P e Presiden ent of Corporate D e Devel elop

• pmen

ment, I Indep epen enden ent D t Direc ector

• r

Larry Strauss has over 25 years’ working in the mining industry in different capacities. More specifically, Mr. Strauss has 18 years of experience as a mining and commodities analyst in both Canada and the United States, followed by seven years as a Director and advisor to resource exploration companies. He was most recently a director at Galway Resources from April 2009 until its acquisition in December 2012. Prior, Mr. Strauss was a Director at GMP Securities, where he spent seven years as a mining analyst. During his time with GMP, the firm secured advisory roles on mergers and acquisitions, and raised several billion dollars for many leading international mining companies, including Goldcorp, Kinross Gold, Wheaton River, Bema Gold, Ivanhoe Mines and Northgate Minerals, among others. During his career, Mr. Strauss has been awarded “Best on the Street” in the Mining and Metals category by the Wall Street Journal. Earlier in his career, Mr. Strauss worked with Canaccord Capital, Prudential Securities and Merrill Lynch.

• Mr. Strauss holds an M.A., Energy and Mineral Resources (cum laude) from the University of Texas at Austin, and a B.S.,

Geology (honors) from City University of New York at Brooklyn College.

MANAGEMENT AND DIRECTORS

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Robb D Doub – Indepen enden ent D Direc ector tor

• Mr. Doub has over 20 years of investing in high growth international and domestic emerging businesses.

He is currently a general partner of New Markets Venture Partners, and sits on the Board of several different companies. Mr. Doub sits on the board of multiple mutual funds and hedge funds. Mr. Doub is also a director of Galway Gold and was a director of Galway Resources. He was also a Managing Director of SEAF, an emerging market venture capital company managing over $200 million in Central and Eastern Europe, Latin America, and Asia. He currently serves on the board of K2 Alternative Strategies Offshore LTD, a hedge fund of funds managed by K2 Advisors, a leading multibillion dollar hedge fund of funds. Mr. Doub also serves on the Conflicts Advisory Board of the off-shore hedge funds managed by Deutsche Asset Management's Absolute Return Strategies Group.

• Mr. Doub graduated from the University of Vermont, with a major in History, and received a MBA with

Honors from Georgetown University.

SUMMARY

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• Galway Gold is a well-capitalized company focused on the exploration of gold in the historic Vetas gold

district of northeast Colombia where mining dates back over 400 years

• Vetas is located just 8-km southeast of the multi-million ounce, world-class California gold district
• Galway Gold’s predecessor company, Galway Resources, sold its interests in California plus a 10%

interest in Galway Gold to AUX Canada (Eike Batista) for approximately $340 million in cash

• Galway Gold’s management and board are the same as those that led Galway Resources.
• Galway has US$10.1m in cash (September 30, 2015), $0 debt
• Galway embarked on a successful drilling campaign at Vetas; over 46,000 meters in over 91 drill holes

have been completed

• In the first 68 underground drill holes in El Volcan, Galway reported that 171 samples sent to the lab

returned gold values of 10 g/t or more, which equates to 2.5 times per drill hole

• Strong drill results include the discovery of three new veins west of the mine, several within the mine

and extend 550 m along strike and to 900 m below surface

• Measured and Indicated resource of 224,900 oz Au at 10.5 g/t and Inferred resource of 377,000 oz Au

at 10.3 g/t

• In addition to drilling the El Volcan mine from underground, Galway targeted extensions to CB Gold’s

recent discoveries along its western border; all zones are open in all directions

• Galway is committed to Building High-Grade Value, Ounce-by-Ounce