Mr. Salvador Miranda reports

GFM ANNOUNCES SALE OF SUBSIDIARY

GFM Resources Ltd. has agreed to sell its wholly owned subsidiary, GFM Resources de Mexico SA de CV, to Compania Minera Autlan SAB de CV for a total purchase price of $427,284 in cash. Closing of the transaction is subject to the approval of the TSX Venture Exchange.

The transaction was approved by the independent directors of the company. One of the directors of the company is also a director of the purchaser, and, as such, the transaction is considered a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101. Further, the company has obtained the written approval of the transaction from shareholders of the company, representing 94 per cent of the issued and outstanding shares of the company.

The subsidiary's principal asset is ownership of three contiguous mineral concessions totalling about 1,180 hectares situated in the state of Durango, Mexico, which make up La Casita property. La Casita property is currently under care and maintenance. Neither the company nor the subsidiary has undertaken any material exploration work on La Casita property in recent years.

The company further announces it has entered into mandate agreements with Fiore Administration Services Corp. to provide corporate administration services and financial advisory services to the company.

About GFM Resources Ltd.

GFM Resources is an emerging mineral exploration company focused on the acquisition and development of high-potential exploration properties in Mexico. Its shares are listed on the NEX board of the TSX Venture Exchange under the symbol GFM.H.

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