Galahad Update Regarding IP Geophysical Anomalies at Regcourt Property

Galahad Metals Inc. ("Galahad") (TSX VENTURE:GAX) has concluded an evaluation of
the IP geophysical anomalies on the Regcourt Property east of Val d'Or, Quebec.
It has been determined that the Induced Polarization geophysical anomalies were
not a response to gold-sulphide bearing quartz veins, which are the exploration
target on the Property. The anomalies appear to be a refection of late-stage
diorite dykes, which contain anomalous concentrations of copper, lead, zinc,
chromium, nickel, and magnesium. None of the recent samples, which tested the
core intervals that transected the IP anomalies, contained more than negligible
to trace amounts of gold and silver. The assay results corroborate earlier
results showing that the host granodiorite is devoid of gold mineralization. It
has been concluded that IP geophysics can't be relied upon to accurately
identify the gold-bearing, quartz vein targets on the Regcourt Property.


Robin Dow, CEO notes: "Using the down-hole IP was a chance to use an innovative,
low-cost technique that had the potential to have a considerable impact on the
exploration programs on the Regcourt Property going forward. Although it did not
work well in the case of the Regcourt Project, Galahad Management feels it was
well worth the risk. Junior explorers have always operated at the very edge of
technology and enterprise. Galahad is proud to continue that tradition."


MRB & Associates, who are managing the operations of the Regcourt Project, are
currently designing a new drill programme, based on Gemcom 3-D interpretation
that has been updated with results from the last drill programme. Drilling is
scheduled to commence in late Q1 2012. It should be noted that the two
programmes that have been designed by MRB to test geological targets interpreted
from the Gemcom model have consistently intersected gold mineralization.


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.


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

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 the Company's expectations and projections.  Neither the
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defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this Press Release.