GRI.V · 2016-07-22

Galore Announces Sale of Taseko Interest to Amarc

Mergers & Acquisitions

FOR IMMEDIATE RELEASE July 22, 2016

GALORE ANNOUNCES SALE OF TASEKO INTEREST TO AMARC

Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) announces that it has agreed to sell its interest in the Taseko option agreement to Amarc Resources Ltd. for $550,000. The terms of the sale are outlined in a “Second Option Agreement” signed on July 4, 2016. This agreement includes payments to Galore of $200,000 on signing (received); $160,000 on or before January 16, 2017 and a final payment of $190,000 on or before January 16, 2018. Upon exercising the Second Option Agreement, the original Taseko option agreement with Amarc will terminate and Amarc will acquire a 100% of Galore’s interest in the Taseko property. If the second option is not exercised the original option agreement will remain in effect.

Galore’s Taseko property surrounds Amarc’s promising IKE porphyry copper-molybdenumsilver discovery, which is currently being explored by Amarc and joint venture partner Thompson Creek Metals.

Uwe Schmidt, Galore’s President and QP commented: “We recognise the potential of our ground in the vicinity of the IKE porphyry copper-molybdenum discovery, but we are very excited about our continuing exploration of Galore’s promising 100% owned Dos Santos project in Mexico. Amarc has been an exceptional partner and we wish them continued success.”

Galore Resources is a British Columbia-based exploration company with promising exploration properties in Mexico.

GALORE RESOURCES INC.

“Mike McMillan ”

CEO and Director

To find out more about Galore Resources (TSX.V:GRI) please contact:

Mike McMillan at (210) 860-9212 (USA) / Uwe Schmidt at (604) 647-2298 (CAN) / Toll Free: 1 (877) 647-2298

OR visit our website at www.galoreresources.com or contact us at [email protected].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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