Mr. Ian Klassen reports

GMV MINERALS SECURES DEFERMENTS UNDER OPTION AGREEMENT FOR DAISY CREEK LITHIUM PROJECT

GMV Minerals Inc. has reached a mutual agreement with Western Property Holdings LLC (WPH), as optionor, to amend the option agreement dated May 15, 2023, between the company, as optionee, and WPH for the company's option to acquire a 100-per-cent interest in the Daisy Creek project, Nevada, on the terms that were previously announced on May 16, 2023, as follows:

1. The first cash option payment due on or before June 12, 2024, has been reduced from $100,000 (U.S.) to $10,000 (U.S.) and the parties have agreed to defer payment of the balance until June 12, 2026 (now $190,000 (U.S.) in total).
2. The first share instalment due on or before June 12, 2024, has been reduced from one million common shares to 500,000 common shares of the company and the parties have agreed to defer issuance of the balance until June 12, 2026 (now four million common shares in total).
3. The parties have agreed to defer the minimum work requirements of $250,000 (U.S.) due on or before June 12, 2024, until June 12, 2026 (now $750,000 (U.S.) in total).

The company has doubled its land position at the Daisy Creek lithium project and these revisions were made to allow additional time for the company to complete continuing exploration work to evaluate the potential of the properties.

Ian Klassen, president and chief executive officer, commented: "We would like to sincerely thank Western Property Holdings for their continued support over this past year. Given market conditions, the reduction in near-term cash and share payments is a timely and valuable step to advancing the Daisy project. I thank the project optionors for their market sensitivity and the additional flexibility that this deferral provides the company."

In addition, the company announces that subject to TSX Venture Exchange approval, it has granted incentive stock options to various directors, officers and consultants to purchase up to 1.65 million common shares, exercisable at a price of 15 cents per share for a period of five years.

About GMV Minerals Inc.

GMV Minerals is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100-per-cent-owned U.S. subsidiary, has a 100-per-cent interest in a mining property lease commonly referred to as the Mexican Hat property, located in Cochise county in Arizona. The project was initially explored by Placer Dome (USA) in the late 1980s to early 1990s. GMV is focused on developing the asset and realizing the full mineral potential of the property through near-term gold production. By National Instrument 43-101 technical report dated Nov. 19, 2020, the company updated its inferred mineral resource to 36,733,000 tonnes grading 0.58 gram per tonne (g/t) gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold. GMV is also exploring the geological potential of the Daisy Creek project, Nevada, for uranium and lithium mineralization.