Galaxy Resources Limited: James Bay Project Notice Submitted and Further High Grade Drilling Results

Perth - Galaxy Resources Ltd. ("Galaxy" or the "Company") (ASX:GXY) (OTCMKTS:GALXF) is pleased to advise that it has now submitted a Project Notice for the James Bay Lithium Project ("James Bay" or the "Project") to the Government of Quebec, and the Federal Government of Canada, together with local stakeholders. The Project Notice submission marks the start of the regulatory process aimed at securing the necessary mining and infrastructure licenses. It also advises the Government of the proposed scale, scope and timeline of the James Bay Project so that it may set the appropriate levels of regulatory assessment.

The preparation and submission of this project description is the initial step in the environmental impact assessment process, where Galaxy advises in writing, the relevant Quebec ministry (Ministere du Developpement durable, de l'Environnement et de la Lutte contre les changements climatiques, or "MDDELCC") and the Canadian Environmental Assessment Agency ("CEAA"), of its intention to undertake the project. The project description also allows the relevant government agencies involved to determine the type of environmental study to be conducted and to issue a formal notice indicating the nature, area and scope of the study expected from the project promoter.

The Project Notice outlines the general characteristics of the project. The Project is situated in the Nord-du-Quebec administrative region of Quebec, where Galaxy is planning to develop an open-pit lithium mine that would be located along the James Bay Road.

Aside from the pit, the mining facility will include an ore concentrator, tailings/waste rock/ore/overburden storage areas, as well as accompanying infrastructure. The concentrated ore will be trucked to a transfer site, where it will be transported by train south, to the proposed conversion facility to be processed into lithium chemicals.

The Company is also pleased to announce further assays from its 2017 drilling campaign at James Bay. The aim of this drilling was to support a mineral resource upgrade to be incorporated into the ongoing Project feasibility study work.

In March 2017, the James Bay team commenced a ~33,000m diamond drilling campaign to extend and develop the existing James Bay resource. This drilling program has now been completed. All remaining assays are expected to be received by the end of October 2017. Results from a further 16 holes for an aggregate 3,879m drilled can now be reported.

All intercepts below are reported downhole.

Highlights from this round of drilling and assay are:

- 88.7m @1.63% Li2O from 150.3m to 239.0m (drill hole JBL17-107)

- 28.7m @ 1.54% Li2O from 28.5m to 57.2m (drill hole JBL17-108)

- 66.0m @ 1.71 % Li2O from 144.33m to 210.3m (drill hole JBL17-128)

- 102.8m @ 1.56% Li2O from 79.7m to 182.5m (drill hole JBL17-129)

- 37.7m @ 1.43% Li2O from 82.16m to 119.7m (drill hole JBL17-147)

Managing Director and CEO, Anthony Tse, commented "We expect to receive the last assays from this drilling program this month. The updated resource estimate work has been awarded to SRK Canada. Galaxy has now established its office in Montreal and engaged Primero Group to deliver engineering input into the James Bay feasibility study. With the Project Notice now submitted, we will advance our work on the feasibility study, including engaging with local stakeholders, the Cree First Nation and the Quebec Government in advancing the development of this world class hard rock lithium resource. "

Final assay results will be released as they are received over the coming weeks. All results are listed in Table 2 (see link below).

ABOUT THE JAMES BAY PROJECT

The James Bay pegmatite swarm is located 10km south of the Eastmain River and 100km east of James Bay. The property is accessible by paved road from the James Bay Road which cuts through the property close to the 381km road marker on the highway Route/109 from Val d'Or, Quebec, Canada. Val d'Or is approximately 526km westward from Montreal, Quebec. A large multi-service truck stop is located at marker 381. Discovered in the 1960's and then known as the Cyr property the site consists of a swarm of 35 pegmatite dykes that belong to the rare-element 'class', the LCT (Li-Cs- Ta) 'family' and the albite-spodumene 'type' per the classification by Cerny (1991).

To view tables and figures, please visit:
http://abnnewswire.net/lnk/22DYP447

About Galaxy Resources Limited:

Galaxy Resources Ltd. (ASX:GXY) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada.

Galaxy is advancing plans to develop the Sal de Vida lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a low cost brine-based lithium carbonate production facility.

Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.



Contact:

Galaxy Resources Ltd.
Corporate Nick Rowley Director - Corporate Development
M: +61-455-466-476
T: +61-8-9215-1700
E: nick.rowley@galaxylithium.com

Media Enquiries (Australia)
John Gardner Citadel-MAGNUS
M: +61-413-355-997 or T: +61-8-6160-4901
E: jgardner@citadelmagnus.com

Media Enquiries (International)
Heidi So Strategic Financial Relations Ltd
T: +85-2-2864-4826
E: heidi.so@sprg.com.hk