Galway New Exploration Initiative

Galway Resources Announces A New Colombian Exploration Initiative Elko, Nevada: December 18, 2007 - Galway Resources Ltd. (GWY: TSX-V) is pleased to announce the establishment of an exploration initiative in Colombia. For the past two years the Company has undertaken a measured and methodical assessment of a number of new exploration opportunities within Colombia. The country has notable reserves of coal (largest exporter in Latin America), nickel, and gold. "We are able to introduce an exploration component that will be managed by a quality management and technical team. We will take advantage of the vast natural resource potential of Colombia to build shareholder value," states Robert Hinchcliffe, President & CEO of Galway Resources. "Our focus has been on coal because of the abundant high quality potential in Colombia and the availability of areas that are still sub-explored. We continue to assess other opportunities for both precious and base metals in Colombia, and also remained focused on advancing our projects in the U.S., most notably our flagship Victorio molybdenum-tungsten project." Coal Concessions The initial scope of our exploration effort has been to identify open pittable coal prospects due to the fact that this type of exploration can be done in a cost effective and timely manner. The Company has received three thermal coal exploration concessions, two that are directly adjacent to a 2 billion ton open pit coal deposit that is currently under development. The other concession is located near 2 producing open pit coal mines. Using our in-house capabilities coupled with technical guidance provided by well recognized international coal experts, management continues to put together a comprehensive exploration campaign. To see the location and associated infrastructure of Galway's coal concessions in Colombia, please click here. http://www.galwayresources.com/i/common/slide_1.jpg http://www.galwayresources.com/i/common/slide_2.jpg Colombian Exploration Initiative - Senior Personnel: General Manager, Antonio Rivera: A Colombian native and geologist, Mr. Rivera has over 25 years holding senior positions in Central and South America, working with various mining companies (Goldfields, BHP Billiton, Jordex Resources, Southwestern Gold etc...). Mr. Rivera is fluent in English and Spanish, and holds a Masters in Economic Geology from Stanford University. Director of Administrative & Community Affairs, Alfonso Gomez: Mr. Gomez has over 25 years working in the natural resource sector in Colombia. Mr. Gomez was Vice President of Community Affairs & Logistics for both Prodeco and the Cerrejon coal mine, the latter the largest coal mine in Latin America, largely owned by Xstrata. More recently, Mr. Gomez was the Coordinator of the United Nations Program for Colombia Coal Industry. Mr. Gomez is fluent in English, Spanish, and Italian, and performed graduate studies in Economics at the University of Milan, Italy. New Project Development, Jose Oro: Mr. Oro, a Cuban native, is both a geologist and an engineer. Mr. Oro has over 25 years working in several different continents across the metal and mineral spectrum. Mr. Oro is the former Director of the Mining and Geology Department of Cuba. In addition to working with junior and senior mining companies, Mr. Oro worked in the Latin American Resource Sector for Coopers and Lybrand LLC. Mr. Oro received post graduate degrees in Remote Sensing and Geological Exploration in the Netherlands and Russia. Besides Spanish, Mr. Oro is fluent in English, Russian, and Portuguese. Chief Geologist, Hernando Lozano: Mr. Lozano has over 35 years working as an exploration geologist primarily focused on Colombia. Earlier on in his career Mr. Lozano was the Project Manager for a United Nations uranium exploration initiative. Subsequently, for over 10 years Mr. Lozano held senior positions with the Mining Ministry of Colombia (Ingeominas) including several years as the