Galahad Metals Inc. ("Galahad") (TSX VENTURE:GAX) is pleased to announce the
successful completion of its agreement regarding the sale of 80 claims, called
the Barville claims, located in Landrienne and Barraute Townships to Abcourt
Mines Inc. ("Abcourt"), for a consideration of $25,000 in cash and 500,000
shares of Abcourt.


From previous work, the Barville claims seemed to be principally zinc - silver
mineralization, which fits Abcourt's current project, but no longer is of
interest to Galahad, which is gold focused.


Robin Dow, CEO, reports: "The sale of the claims continues the opportunity for
Galahad to monetize assets outside its focus on gold exploration, principally in
Quebec. The funds generated will be used for drilling in Q1 2012 and for working
capital purposes. This cash and share deal, as well as the spin out of Red Ore
Gold Inc., means at current market prices, a near cash asset for Galahad of
almost $700,000.00. In this tight market, being able to generate funding
opportunities without further dilution to the shareholders is critically
important."


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.
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