Press Release Source: Galahad Metals Inc. On Friday March 18, 2011, 11:15 am

OTTAWA, ONTARIO--(Marketwire - March 18, 2011) - Galahad Metals Inc (TSX VENTURE:GAX - News) is pleased to announce that the Company plans to issue up to a maximum aggregate of 2,000,000 (the "Units") consisting of an aggregate of flow-through common shares and warrants of the Issuer for gross proceeds of up to $300,000.

Each Flow-through unit is priced at $0.15 per unit and consists of one flow-through common share and one Warrant. Each Warrant shall entitle the subscriber to subscribe for and purchase one additional Share at a price of $0.25 per Share from the date of issue up to and including March 31, 2013.

The proceeds obtained from the issuance of the Flow-Through Units shall be used for the next diamond-drilling and down-hole geophysics exploration programme at Regcourt; which Galahad expects sometime in April. Galahad has already had verbal confirmation of drill availability and is just waiting for the contract to finalize the date.

The Company will pay a Finder's Fee payable in a combination of cash and the issuance of securities of the Issuer equal to 4% of the cash and such number of Regular Units equal to 6% of the proceeds in connection with proceeds received by the Corporation from the sale of Flow-Through Units to subscribers.

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