This morning I called galway in vancouver and talked with Mari of investor relations, to get a bunch of my questions answered. I wanted to share this conversation with you all.

question #1:

myself: Could you explain this whole pro-rata deal with the vetas property? does it mean that if I own x amount of shares of galway that i get the option to trade them for vetas shares or does it mean that you will issue free shares for x amount of share of galway I already own?

answer by Mari:

"the details are still being worked out, but pro-rata means that you will get a certain amount of shares of the new vetas company. We do not know at this time what the ratio to your shares will be. It could be that you will get more shares of vetas than what you own in galway, or it could be less. We will give you more details soon.

question#2

myself: with the 25 million dollars bought financing, what plans does galway have with the money?

answer by Mari:

"we plan to use this money for more drilling and exploration on the california and vetas properties. We currently have 3 drills at cali and plan 2 drills at vetas in Q1. I am not sure exacly how many more drill rigs will be added on either properties at this point in time. I do not know the exact date for the start of drilling at vetas."

question#3

myself: Whats going on with the news release frequency? it seems to take a lot of time to get news from the company.

answer by Mari:

"well we send our assays to the labs of ALS chemes in peru, so it may take some time for results to get back due to the time it takes for them to analyze and also travelling back and forth from them to us. We have been conducting additional types of assaying that also require more time to get done, in order to really know and understand what we have in our hands. We want to make sure we are very accurate."

question#4

myself: about the sections of land we bought in ventana's concession, can you tell me how big they are in acres,hectares etc, and what does it mean for ventana if they want to mine on their property in terms of access?

answer by Mari: "I'm not sure exacly how much land that is, I recommend you look at our maps. I know an agreement between ventana and ourselves will have to happen. There are no talks happening right now between ventana and galway."

question #5

myself: in the last news release of dec 19, it says that drilling is happening right now at galca by prodeco, is this an error in the release?

answer by Mari: "Drilling has definetly begun at this project in 2 different areas. While they were drilling they came accross another area that looked very promising, and so they currently have stopped the drilling to get permits to also drill that area. Once that is done they will resume the drilling all over the property."

question#6

myself: What going on with our Moly property, is this project dead, are they looking to sell it?

answer by Mari: "we are currently looking for a joint venture partner. There has been some interested parties. John is currently looking after this. "

there you go, I hope this was as informative for you all as it was for me. After this conversation I bought back my entire previously sold position, and even added more shares than before. I currently own 90,000 shares.

enjoy,

david