GXY

Galaxy Capital Corp. (TSX VENTURE:GXY) (the "Company" or "Galaxy") is pleased to
announce that it has signed an agreement to acquire a 100-per-cent interest in
the Laurier Graphite Property, Ontario.


Laurier Graphite Property

The Laurier Graphite property is located in Laurier Township, ON, approximately
40 km SSE of North Bay, ON. The property is located in the highly prospective
Central Metasedimentary Belt of the Grenville geological province, host to many
active graphite projects. The host rocks for the target zone are graphitic
paragneisses. The property properties cover a total of approximately 2300
hectares on 46 mining claims.


The property was described in Ontario Geological Survey (OGS) Open File Report
5649, published in 1987. The report is entitled "Graphite in the Central Gneiss
Belt of the Grenville Province in Ontario." The property has road access from
Highway 11, which is 5 km to the west. The report describes four graphite
occurrences, two of which are currently being prepared for production. These are
referred to in the report as Butt Township (which is the Kearney Mine) and Maria
Township (the Bissett Creek deposit).


Work performed on the Laurier property by the OGS described N-S trending
graphitic schist units varying from 25 to 250m in width with 1.0mm (16 mesh)
graphite flakes disseminated throughout. In addition, a 1-2m wide vein of
massive graphite was reported.


The Company cautions that it has not verified the quality and accuracy of the
historic data reported in this news release, which predate the introduction of
National Instrument 43-101 and cautions readers not to rely upon them. The
historic information was generated from the OGS report cited above. This source
is believed to be reliable; however, it has not been confirmed by the company's
Qualified Person.


A field program, consisting of ground geophysics (VLF/Mag), prospecting, mapping
and sampling, is planned for June 2012.


Chris Healey, President of Galaxy commented, "With this acquisition, along with
the Sun and Buckingham graphite properties previously announced, Galaxy now has
an excellent portfolio of quality graphite projects. With the recently closed
financing, Galaxy is in a position to aggressively explore these projects
starting in the coming weeks and to expedite them to an advanced stage." 


Update on Other Properties

SUN Property, NW of Baie-Comeau: field work on this property is expected to
commence in late May, consisting of mapping, prospecting and sampling, to define
drill targets. This will be followed by a 3000 metre summer diamond drill
program.


Buckingham, East of Ottawa: Field work will commence in late May with a
helicopter-borne EM/Mag survey, followed immediately by ground follow-up.


Terms 

Galaxy has an option to earn a 100-per-cent interest in the Laurier Graphite
Property, Ontario from Gino Chitaroni by making the following payments and
issuing the following common shares to the vendors: i) $10,000 upon signing the
letter agreement (paid), ii) $40,000 and 1,000,000 common shares on receipt of
the TSX Venture Exchange ("TSX-V") acceptance of the agreement, iii) and $50,000
and 500,000 common shares twelve months from TSX-V acceptance. 


The vendor will retain a 2-per-cent net milling royalty on the property, half of
which can be purchased by Galaxy for C$1,000,000 and a further quarter for
$500,000.


Chris M. Healey P.Geo, a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the technical content of this release.


ON BEHALF OF THE BOARD

Chris M. Healey, President and CEO

We seek safe harbor.

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