Galahad Metals Inc./REGCOURT: Final Assay Results from 2012 Drilling Campaign

Galahad Metals Inc. (or "Galahad")(TSX VENTURE:GAX) has received complete assay
results from the 2012 diamond-drilling programme at its Regcourt gold Property,
30 km east of Val d'Or, QC. This latest campaign comprised 5 drill-holes,
totalling 1572 metres (m) that targeted near- surface flat veins, as well as
projected down-dip extensions of veins intersected by previous drilling.


Robin Dow, CEO, reports: "The results of Galahad's exploration programmes to
date support the interpretation of a Sigma-type, hydrothermal, shear-zone
associated, gold-bearing quartz- tourmaline vein and stringer system. With its
84 surface holes, 35 underground holes, and historic underground workings,
including a shaft to 165m and 4 adits, Galahad's management view is that it is
time to seek a partner with mining experience to further enhance the project."


Galahad is pleased to report that all five (5) drill holes of the 2012
operations encountered numerous, narrow quartz-tourmaline veins (1-4 cm) and
veinlets (less than 1 cm), with local disseminated sulphide mineralization. Both
flat and steep quartz-vein orientations were intersected, and mineralized zones
were observed discontinuously from 30 metres to 300 metres down-hole. Hole
RG-12-04 was abandoned after it penetrated a cavity, assumed to part of the
historic Regcourt Gold Mine workings, at 168 metres down-hole. All the drilling
successfully intersected the targeted sulphide-bearing, gold-mineralized quartz
veins in close proximity to the historic Regcourt Gold Mine workings.


A total of 849 core samples were collected from recovered core and sent to ALS
Chemex Laboratories in Val-d'Or, QC, for multi-element analysis. Gold content
was determined using standard Fire-Assay methods. Selected highlights of the
analytical results are listed in Table 1.


To date, Galahad has completed 25 surface drill-holes, totalling 7068 metres, on
the Property, which hosts the historic Regcourt Gold Mine deposit. The gold
deposit is hosted by a granodiorite stock that intrudes mafic and intermediate
volcanic rocks of the Malarctic Group. The mineralization consists of
fracture-fill quartz veins and veinlets containing fine-grained pyrite and free
gold, similar to other nearby gold deposits in the surrounding Val-d'Or gold
mining camp.


Characteristics of the Regcourt Deposit include:



--  narrow, high-grade dilatant lenses; 
--  within a high-strain zone that is associated with a major, regional
    dislocation (i.e., the Larder Lake-Cadillac Break); 
--  sub-vertical and "flat" quartz and carbonate vein system; and 
--  free gold and attendant gold-bearing, pyrite-tourmaline alteration zone.

                                                                            
                                                                            
Table 1: Selected Best Results from the 2012 Diamond-Drilling Programme     
                                                                            
Hole      Hole Orientation (True)Length of   From     To        Intersection
          -----------------------                                           
                                                                (Au-gpt over
              Azimuth         Dip hole (m)    (m)    (m)           interval)
----------------------------------------------------------------------------
RG12-01   045 degrees -60 degrees     351   42.50  44.00   27.71 over 1.50 m
including                                   42.50  43.55   39.00 over 1.05 m
----------------------------------------------------------------------------
RG12-02   045 degrees -60 degrees     351   66.00  69.00    5.28 0ver 3.00 m
including                                   67.50  69.00    9.48 over 1.50 m
                                                                            
                                           338.50 339.00    6.62 over 0.50 m
----------------------------------------------------------------------------
RG12-03   045 degrees -60 degrees     351  348.90 349.40    5.70 over 0.50 m
----------------------------------------------------------------------------
RG12-04   045 degrees -57 degrees     168  164.00 166.00   11.08 over 2.00 m
including                                  164.00 164.55    36.6 over 0.55 m
and                                        165.50 166.00    4.17 over 0.50 m
----------------------------------------------------------------------------
RG12-04B  045 degrees -56 degrees     351  123.50 124.00    4.01 over 0.50 m
                                                                            
                                           213.00 213.60    5.28 over 0.60 m
                                                                            
                                           301.50 303.85    1.43 over 2.35 m
                                                                            
                                           315.00 315.80    6.09 over 0.80 m
                                                                            
 (i)All holes are inclined, therefore "From" and "To" distances tabulated   
are metres down-hole, not vertical metres. Furthermore, calculated          
intersection "Intervals" are down-hole lengths and not true widths. All     
assays are reported uncut.                                                  



The current exploration program is being supervised by John Langton M.Sc., P.
Geo, of MRB & Associates, who is the Qualified Person as defined by National
Instrument 43-101 for the Regcourt Project, and has approved the contents of
this release.


QA/QC Procedures

Galahad has implemented a quality control program to ensure best practices in
sampling and analysis of the core samples. The core was logged and then split,
with half the core sent for assay, and half retained for verification and
reference purposes. Standards and blanks were inserted randomly into the sample
stream. The samples were delivered, in security bags, directly to ALS-Chemex
Laboratories Ltd. in Val-d'Or, Quebec for analysis. Samples were initially
analyzed by conventional fire assaying. Pulps from samples that returned
anomalous values, or that were collected from intervals adjacent to anomalous
zones, were re-assayed by conventional fire assaying. For the reported
intersections, gravimetric or total metallic-sieve check assays were completed
on the remaining coarse crush reject for all samples reporting greater than 5.0
g/t Au from the initial fire assay. The final reported gold grade for a sample
is the metallic-sieve result; if unavailable, the gravimetric result is used;
followed by the average of multiple or single fire assays.


The accredited ALS-Chemex Laboratories Ltd. of Val-d'Or, Quebec is the only
assay laboratory being used for lithogeochemical analyses. ALS Chemex has
attained ISO 9001:2000 registration, which requires evidence of a quality
management system covering all aspects of the assaying process. To ensure
compliance with this system regular internal audits are undertaken by staff
members specially trained in auditing techniques.