Mr. Ian Klassen reports

GMV MINERALS INC. COMPLETES SUMMER EXPANSION DRILLING PROGRAM AND PREPARES TO INCORPORATE ITS 2016- 2017 DRILL RESULTS INTO AN UPDATED NI 43101

GMV Minerals Inc. has completed drilling on the extensions of the known mineralization previously encountered at the Mexican Hat gold deposit in southeastern Arizona. The company's 14-hole reverse circulation program was specifically designed to expand mineral resources to the south and to the east of the existing Mexican Hat gold resource.

The drill program consisted of stepout drill holes to test along strike of the known 120-degree-striking mineralized H2 zone. The company directed the exploration to the southeast where the 2016 winter program encountered GMV 2016-11 which yielded 67.1 metres of 0.64 gram per tonne gold as part of a larger interval of 106.7 metres of 0.44 g/t gold (350 feet). The H2 zone, confirmed by drilling, is now 1.3 kilometres in length. A scissor hole was drilled to the east to confirm the northeast dip of the H2 mineralization in the area where GMV 2016-11 (drilled to the west) recovered a broad zone of mineralization. Two additional holes stepped out 50 m each to the south. The most common trend of the Mexican Hat mineralization is 600 (plus/minus) which contains five zones confirmed with an additional four zones indicated. A stepout of 150 metres to the east of all previous drilling was conducted by drilling six RC holes to a depth of 300 metres which is 100 metres deeper than previous Mexican Hat exploration.

All drill holes encountered multiple intercepts of hematized and/or limonitized volcanic rocks that are typically associated with gold mineralization. Samples were collected throughout the drilling program and were submitted to Bureau Veritas labs together with certified standards and blanks. These results will be released as they are received and the quality assurance/quality control work is confirmed.

The drill rig has now been moved 1.9 kilometres to the north of Mexican Hat to test a gold-bearing target identified by Placer Dome (USA) in a fence of 10 shallow RC holes drilled to determine the depth of overburden. Placer had intersected significant gold mineralization in three contiguous holes, but did not drill below a depth of 87 m. These three holes are 150 metres apart and have now been twinned. Samples have been collected and submitted to Bureau Veritas together with certified standards and blanks. These results will be disclosed once received.

The company has completed additional soil sampling to extend coverage over its 4,800-acre package of mineral tenures. The majority of the 547 samples were located north of Mexican Hat, to help define geochemical trends in areas where geophysical anomalies indicate potential Mexican Hat-style mineralization as well as potential porphyry-style mineralization.

Ian Klassen, president of GMV, remarked: "It is very encouraging to continue to intersect hematite-altered volcanic rocks, typically associated with mineralization at Mexican Hat, well beyond the previous limits of mineralization. We drilled across the strike of the 600 zone in five of our holes where we intersected multiple zones of the alteration characteristic of mineralized zones. A further three holes focused on the 120-degree-striking H2 zone at its current southeastern limits. One hole was designed to confirm the orientation of the zone and the final two were stepouts to the south. All intersected substantial altered volcanic rocks. Assays will determine to what extent these holes, in addition to the 17 holes drilled in 2016, will contribute to expanding resources as we update our Mexican Hat resource calculation later in 2017."

In a more reconnaissance-style program, the drilling being completed to the north of the Mexican Hat will determine the nature and extent of mineralization identified by Placer Dome (USA) in the past.

Arizona hosts significant copper-gold mineralization associated with 40-million-to-80-million-year-old intrusions, including deposits in the vicinity of Mexican Hat in the Gleeson-Courtland district and elsewhere. The Mexican Hat deposit, however, is hosted in volcanic rocks considered to be much younger than this, and therefor would be situated on top of the older porphyry copper mineralization. Determining what types of rocks are found north of Mexican Hat is critical in determining what type of mineralization occurs in this area.

Dr. D.R. Webb, PhD, PGeo, PEng, is the qualified person for this release within the meaning of National Instrument 43-101 and has reviewed the technical content of this release and has approved its content.

About GMV Minerals Inc.

GMV Minerals is focused on developing precious metals assets in Arizona. The company, through its 100-per-cent-owned subsidiary, has a 100-per-cent interest in a mining property lease commonly referred to as the Mexican Hat project, located in Cochise county, Arizona. The Mexican Hat property contains an inferred mineral resource of 23,452,000 tonnes grading 0.7 gram per tonne gold hosting 531,400 troy ounces of gold. The project was initially explored by Placer Dome (USA) in the late 1980s to early 1990s.

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