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International Molybdenum plc

RNS Number:0631J
Galahad Gold Plc
25 February 2005
25 February 2005
                          Galahad Gold PLC ("Galahad")
                             Corporate Developments
Galahad is pleased to report progress in its Molybdenum exploration licences in
Greenland.  A new company has been established, International Molybdenum Ltd ("
InterMoly"), 100%-owned by Galahad.  Galahad has transferred to InterMoly its
exploration licences for the Malmbjerg and Flammefjeld deposits in Greenland.
An independent study by John R. Kerr, P.Eng. and David K. Makepeace, P.Eng. on
past exploration activities at the Malmbjerg deposit has developed a new
resource model that classifies the Malmbjerg deposit as an Inferred Mineral
Resource of 118 million tonnes at 0.24% MoS2 at a cutoff grade of 0.17%.  The
new resource model has been completed by digitizing the results of past drilling
and studies at the deposit.  InterMoly is currently working on a development
programme to confirm the economic value of the deposit by assessing order of
magnitude capital and operating costs as estimated by Hatch Limited in a scoping
study.
The Flammefjeld prospect has the potential to host significant molybdenum
resources and will be the subject of a drilling programme during 2005.
Enquiries to:
GALAHAD GOLD PLC
Ian Watson/Angelos Damaskos
                 Tel: 020 7408 2002
PARKGREEN COMMUNICATIONS
Simon Robinson/Justine Howarth
                 Tel: 020 7493 3713
DRESDNER KLEINWORT WASSERSTEIN
Chris Treneman
                             Tel: 020 7623 8000
Notes to Editors
Galahad Gold plc is an international mining development company quoted on the
AIM Market of the London Stock Exchange under the symbol GLA.  It has three
current projects, all in politically safe locations:
      * 31.7% interest (31.2% fully diluted), in both cases assuming
        completion of the recent NDM financing announced by Galahad on 22
        February, of Northern Dynasty Minerals Limited the owner of the Pebble
        project in Alaska which contains the largest gold deposit in North
        America and the second largest copper deposit;
      * 100% of Skaergaard in Greenland, one of the largest palladium deposits
        outside South Africa and Russia; and
      * 100% of Malmbjerg in Greenland, one of the largest primary molybdenum
        deposits in the world.
Galahad's attributable Inferred Mineral Resources:-
      * 19.93m ounces of gold;
      * 3m ounces of platinum;
      * 35.1m ounces of palladium;
      * 5.63bn lbs of copper; and
      * 306.9m lbs of molybdenum
These figures exclude Malmbjerg's molybdenum and the extensive vanadium and
titanium deposits in Skaergaard.
Further information on Galahad may be found at www.galahadgold.com
                      This information is provided by RNS
            The company news service from the London Stock Exchange
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