Galway Resources is a well-capitalized company primarily focused on the exploration of gold in Colombia. Our primary projects are the California and Vetas gold projects, located in northeast Colombia, with drill programs occurring at both projects and neither are subject to restrictions associated with Páramo legislation. There are 3 drill rigs operating at the California property, located adjacent to and along strike with Ventana's La Bodega/La Mascota property. Drilling commenced in April 2011 at the Vetas property, located 8 km southeast of California, with 2 rigs currently operating. Galway is focused on having independent NI 43-101 resource estimates completed on both California and Vetas in the first quarter of 2012. The Company also has the Victorio molybdenum-tungsten project, with excellent infrastructure, in southwestern New Mexico. A positive scoping study was completed by SRK consulting. The recent surge in tungsten pricing, coupled with a steady molybdenum price, has prompted management to reassess strategic alternatives to advance the Victorio project.
