Galahad Metals Announces Private Placement

Galahad Metals Inc. (TSX VENTURE:GAX) is pleased to announce that, subject to
TSX Venture Exchange (the "Exchange") approval, the Company plans to issue up to
5,000,000 non-brokered flow-through units at a price of $0.05 per unit, with
each unit being comprised of one flow-through common share and one non
flow-through common share purchase warrant. Each whole warrant will be
exercisable at a price of $0.12 per common share from the date of issuance up to
and including February 28, 2014. Management expects the issue to close on or
about February 17, 2012.


Proceeds raised will be used to fund a four-hole diamond drilling programme at
Regcourt scheduled to start on or about February 22, 2012. Each of the four
holes will be approximately 350 metres in length for a total of approximately
1400 metres.


The Company, subject to Exchange approval, will pay a Finder's Fee payable in
the issuance of securities of the Issuer equal to 5% of the proceeds raised to a
maximum of 250,000 units, in connection with proceeds received by the
Corporation, from the sale of Units to subscribers.


For further information, please go to www.galahadmetals.com.

This Press Release may contain forward looking statements that involve a number
of risks and uncertainties. Actual events or results could differ materially
from the Company's expectations and projections. Neither the 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 Press Release.