Galway Resources selected for 2012 TSX Venture 50
February 16 2012 - 6:30AM
PR Newswire (Canada)
TORONTO, Feb. 16, 2012 /CNW/ - Galway Resources Ltd. is pleased to
announce that it has been named as one of the 2012 TSX Venture 50®,
a ranking of strong performing companies listed on TSX Venture
Exchange. "We are very proud to have been selected for the TSX
Venture 50. This achievement reflects the hard work and dedication
of our entire team as we continue to advance our two world class
gold-silver exploration projects located in Colombia, South
America. We will continue to strive for success for the Company and
its shareholders," cites Robert Hinchcliffe, President and CEO of
Galway Resources. The TSX Venture 50® are the top 10 companies
listed on the TSX Venture Exchange, in each of five major industry
sectors - mining, oil & gas, technology & life sciences,
diversified industries and clean technology - based on a ranking
formula with equal weighting given to return on investment, market
cap growth, trading volume and analyst coverage. All data was as of
December 31, 2011. About The Company Galway Resources is a
well-capitalized company, primarily focused on the exploration of
gold and silver in Colombia. The Company has two drill programs
underway at the California and Vetas gold-silver projects, located
in northeastern Colombia. At California, with 3 drill rigs
operating, the Company has reported 150 holes from surface,
comprising over 46,000 meters drilled. At the nearby Vetas
gold-silver project, where 2 rigs are drilling underground and a
third recently started from surface, results have been reported on
24 holes which represents just over 10,000 meters of drilling. The
Company also has the Victorio tungsten-molybdenum project, with
excellent infrastructure, located in southwestern New Mexico. A
positive scoping study coupled with record high tungsten pricing,
has prompted management to reassess strategic alternatives to
advance this project. 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 release. Forward Looking
Statements: Forward-Looking Statements: Statements in this release
that are forward-looking statements are subject to various risks
and uncertainties concerning the specific factors disclosed under
the heading "Risk Factors" and elsewhere in the Company's periodic
filings with Canadian Securities Regulators. Such information
contained herein represents management's best judgment as of the
date hereof based on information currently available. The Company
does not assume the obligation to update any forward-looking
statement. Galway Resources Ltd. CONTACT: Galway Resources
Ltd.Robert Hinchcliffe1-800-475-2412www.galwayresources.com
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