|November 22, 2007|
Galway Resources Announces Pablo Orsolani Joins The Board And Will Also Be The Chief Financial Officer
|Elko, Nevada: November 22, 2007 - Galway Resources Ltd. (GWY: TSX-V) (or the "Company") is pleased to announce the addition of Mr. Pablo Orsolani as the Chief Financial Officer and he will also join the Board of Directors. Mr. Orsolani has 28 years experience in international business, spanning the United States, Japan, Europe and Latin America. Mr. Orsolani started his career as a management consultant with Arthur D. Little, Inc. U.S.A., later taking positions in marketing, planning, finance and general management in several industries, including commodities (aluminum, nickel and oil) and specialty chemicals (industrial gases, paint).|
"We are delighted to have Pablo join the team and he compliments our team quite nicely. I enjoyed working with Pablo years ago in Venezuela, where Pablo played a crucial role in the successful commercialization of a nickel project. He has abundant talent, an extensive network, and a strong track record in building companies. His expertise in securing long-term energy contracts and off-take agreements for several different projects and commodities will certainly be of use as we continue to advance our projects," states Robert Hinchcliffe, CEO of Galway Resources.
Mr. Orsolani was the Chief Financial Officer of a nickel project owned by Jordex Resources, a Toronto Stock Exchange listed company, which was sold to Anglo American for $65 million. The project is now a producing nickel mine in Venezuela. Mr. Orsolani was also the President of an industrial gas company that had over 400 employees and had an investment program in the hundreds of millions of dollars.
Mr. Orsolani has also served as a member of the board of directors of several industrial companies, including a United States based aluminum extrusion company with sales of $250 million and a primary aluminum company with sales of $400 million. He was also a board member of an electric utility with 13,000 MW of installed capacity.
Mr. Orsolani holds a Mechanical Engineering degree from Universidad Simon Bolivar, Caracas, Venezuela; he also holds two masters' degrees from Massachusetts Institute of Technology (MIT), an MBA from the Sloan School and also a Master of Science in Mechanical Engineering. Mr. Orsolani is fluent in English and Spanish.
The Company would like to thank Chris Park who has been the acting Chief Financial Officer for the past two years.
About the Company
The Company is well capitalized with over $11 million in the treasury. Management is focused on developing three U.S. based exploration projects that are favorably located and have over 300,000 feet of historical drilling. We have established a solid technical team that is compiling all the historical data and are now advancing these projects in an aggressive but cost effective manner. Management believes that its strategic portfolio of properties offers investors an interesting exposure to a unique blend of commodities.
For further information contact:
Galway Resources Ltd.
President and Director
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Forward Looking Statements:
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of transactions, the timing and amount of payments and share issuances, the completion of financings, the use of proceeds, future exploration, development and production activities and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated transactions, payments, share issuances and financings, the use of proceeds, the time and success of future exploration, development and production activities and the timing and amount of expenditures.
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