Galway Metals awards incentive stock options

TORONTO, Dec. 4, 2013 /CNW/ - Galway Metals Inc. (TSX-V: GWM) ("Galway Metals" or the "Company") is pleased to announce that it has awarded 4.8 million incentive stock options exercisable at C$0.10 per common share and expiring on December 4, 2023, to officers, directors, employees and consultants of the Company. This is the first grant of options and is in compliance with terms of the Company's Stock Option Plan and remains subject to acceptance by the TSX Venture Exchange.

Galway Metals is well capitalized with $11.2 million in cash at September 30, 2013. The Company began trading on January 4, 2013, after the successful spinout to existing shareholders of Galway Resources following the completion of the $340 million sale of that company, which closed in December 2012.

Neither the TSX-V nor its regulation services provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements:

Certain statements contained in this release containing words like "believe", "intend", "may", "will", "expect", "would" and other similar expressions, are forward-looking statements that involve a number of risks and uncertainties. Statements in this release that are forward-looking statements are subject to various risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Galway Gold does not assume the obligation to update any forward-looking statement, except as required by law.

SOURCE Galway Metals Inc.