Galway Metals Partners with DOWA for Estrades Project

Galway Metals Inc. has announced a partnership with DOWA METALS & MINING CO., LTD., entering into an Option and Joint Venture Term Sheet. This agreement allows DOWA to earn up to a 45% interest in the Estrades Gold and Zinc Project in Quebec, Canada.

The partnership involves a phased investment from DOWA, potentially contributing up to US$25 million. Phase I involves a US$5 million investment for a 10% interest and rights to 50% of zinc concentrate. Phase II, pending joint venture agreements, involves an additional US$10 million for a 30% interest and 75% zinc rights. Finally, Phase III includes US$10 million more, culminating in a 45% interest and 100% zinc offtake rights.

Galway Metals' CEO, Robert Hinchcliffe, sees this as a validation of Estrades' potential and looks forward to the collaboration. The project is expected to progress towards a production decision through phases focusing on drilling and feasibility studies.