Mr. Ian Klassen reports

GMV MINERALS INC. REAFFIRMS COMMITMENT TO MEXICAN HAT GOLD PROJECT - DRILL PERMIT RECEIVED FOR NEVADA PROJECT

GMV Minerals Inc. has provided the following update.

The company continues to be highly encouraged by its primary core project, known as the Mexican Hat gold deposit, located in southeastern Arizona. The company's preliminary economic assessment (PEA) reports 36.7 million tonnes grading 0.58 gram per tonne gold in a 688,000-ounce inferred mineral resource. An open pit with a 1.87:1 strip ratio was modelled to extract 32.6 million tonnes of this deposit recovering 525,000 ounces of gold over a 10-year mine life. This is a low-capital-cost operation, with a total cost of $67.8-million (U.S.), which includes $12-million (U.S.) in contingency and $13-million (U.S.) in sustaining capital. Heap leach testing demonstrates an exceptional recovery of 88 per cent of the gold from a two-stage crushing circuit.

As a result of the recent and steady increase in the price of gold well beyond numbers that were conceived in the PEA, the company is now advancing upon its intention to continue developmental drilling at the project while remaining focused on the share structure of the company.

A drill program will twin approximately 35 shallow holes drilled by past operators (approximately 90 per cent completed by Placer Dome USA). This wide-diameter diamond drill program intends to refine the internal boundaries of the mineralization and provide geomechanical parameters that cannot be obtained from reverse circulation drilling.

The result from this work is expected to:

• Upgrade the mineral resource to higher categories within the measured, indicated and inferred resource classification;
• Provide geotechnical data for engineering designs geared to maximize the pit slope and potentially increase recoverable gold ounces;
• Provide opportunities to confirm hydrogeological properties of the rock;
• Provide samples for environmental testing to characterize both the ore and waste materials for permitting requirements.

In addition, this phase of the drilling will be completed in parallel with a resumption of hydrogeological and atmospheric testing being conducted by SRK Consulting (U.S.) Inc. and Westland Engineering & Environmental Services Inc. This work will enable the company to identify pertinent data to allow for the company to advance the project toward production.

The company also confirms that it has received the approval of the notice of intent (NOI) for the company's Daisy Creek project in Lander county, Nevada.

The U.S. Department of the Interior's Bureau of Land Management (BLM) has reviewed the NOI and determined it is complete, containing all the information required by the surface management regulations at 43 CFR 3809.30. The BLM has reviewed the proposed operation and determined that it is appropriate to proceed to a drill phase.

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 the Daisy Creek project

The Daisy Creek project is in Lander county, Nevada, where GMV now controls or owns a total of 165 lode claims covering 3,408 acres. An initial six-hole drill program been established based upon recent sampling, historical data and the high-resolution aeromagnetic survey completed by Precision GeoSurveys in late 2023. The program is designed to test the Daisy Creek property for prospective lithium claystone (LC) mineralization. The property was explored in the past because of the prospectivity for uranium when the unexpected discovery of high-grade lithium was made. After field evaluation and analyses of past data and a helicopter geophysical survey and the recent approval of the NOI, the company intends to proceed and commence drill testing. The company has engaged Nevada-based Harris Exploration to conduct the program.

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 subsidiary, has a 100-per-cent interest in a mining property lease commonly referred to as the Mexican Hat property, located in Cochise county, Arizona, United States. 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. GMV recently updated its NI 43-101 inferred mineral resource to 36,733,000 tonnes grading 0.58 gram per tonne gold at a 0.2-gram-per-tonne cut-off, containing 688,000 ounces of gold.