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GAX Galahad Metals

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Share Name Share Symbol Market Type
Galahad Metals TSXV:GAX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Galahad: Red Ore Gold Announces Assays up to 258 g/t Silver, 1.4 g/t Gold, 2.9% Copper, 18% Lead and 27.5% Zinc in Grab Sampl...

05/10/2011 2:00pm

Marketwired Canada


Galahad Metals Inc. (TSX VENTURE:GAX)

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Red Ore Gold Inc. ("RXX"), a subsidiary of GAX, is pleased to announce results
from its due- diligence sampling and property visit to the Pogonip Ridge
Property, Nevada this September, 2011.


The results ranged from 9.9 to 258.0 g/t Ag, trace to 1.4 g/t Au, trace to 2.9%
copper, trace to 18% lead and trace to 27.5% zinc. Results are tabulated below:




--------------------------------------------------------------------------
SAMPLE                                  Au      Ag      Cu      Pb      Zn
--------------------------------------------------------------------------
                                       g/t     g/t       %       %       %
--------------------------------------------------------------------------
57769     Pit, South Boundary with                                        
               Roco-Homestake Mine   1.405   248.0    2.91   18.15    0.27
--------------------------------------------------------------------------
57770    Dump, South Boundary with                                        
               Roco-Homestake Mine   0.017    64.3    0.65    2.42    20.6
--------------------------------------------------------------------------
57771        Dump, Tonopah-Belmont                                        
                              Mine   0.049     9.9    0.02    0.65    0.12
--------------------------------------------------------------------------
57772        Dump, Mary-Ellen Mine    0.08   258.0    0.07   17.15    22.3
--------------------------------------------------------------------------
57773        Dump, Mary-Ellen Mine   0.008    18.5    0.01    0.65    27.5
--------------------------------------------------------------------------
57774        Dump, Mary-Ellen Mine   0.103   169.0    0.03    8.37    0.77
--------------------------------------------------------------------------



Robin Dow, CEO reports, "we are encouraged by the results of this property visit
to assess the extent of the mineralization within the area of historic mining on
the property".


The Pogonip Ridge Property is located approximately 80 km (50 mi.) east of
Eureka, in White Pine County, east-central Nevada, and lies along the western
side of the White Pine Range. The White Pine area is reported to have produced
20 to 40 million ounces of silver from 1868 to 1880. The Pogonip Ridge property
covers 4 km of prospective gold and silver strike potential including the past
producing Belmont-Tonopah and Mary-Ellen mines.


The Pogonip Ridge group of mines, including the Mary Ellen, Tonopah-Belmont,
Rocco- Homestake and other unnamed mines and prospects were located and briefly
visited. No fewer than 8 portals and openings were observed along with extensive
underground workings, dumps and numerous shallow pits and trenches. Remnants of
ore processing mills, wooden ore storage bins, head frames, aerial ore tramways
and concrete hoist foundations exist near the main historic workings.


The due diligence property visit has revealed that mineralization observed in
the historic workings is both high-grade and extensive. Drilling beneath the
shallow workings is highly warranted. In addition, no modern exploration has
occurred on the property since the discovery of the Carlin-type deposits in the
1960s.


Garry K Smith, P. Geo., who is the Qualified Person as defined by National
Instrument 43-101 for the Pogonip Ridge Project, and has approved the contents
of this release. All samples reported were securely shipped to ALS Minerals Labs
in Reno, Nevada for assay.


The offered securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any
applicable state securities laws and may not be offered or sold in the United
States or to "U.S. persons", as such term is defined in Regulation S under the
U.S. Securities Act, absent such registration or an applicable exemption from
such registration requirements. This news release shall not constitute an offer
to sell or the solicitation of an offer to buy the offered securities in any
jurisdiction.


The statements in this press release may contain forward looking statements that
involve a number of risks and uncertainties. Actual events or results could
differ materially from RXX'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.


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