Mr. Ian Klassen reports

GMV MINERALS RECEIVES DRILL PERMITS AT THE MEXICAN HAT GOLD PROJECT

Subject to posting and acceptance of the required reclamation bonding/financial guarantee, GMV Minerals Inc. has received the necessary drill permits from the Bureau of Land Management to proceed with its next phase of diamond drilling at its 100-per-cent-owned Mexican Hat gold project located in southeastern Arizona.

Harris Exploration Drilling has been chosen to drill approximately 35 holes, totalling approximately 7,300 metres of diamond drill core on the Mexican Hat project. The company expects the drilling program to commence in early spring 2026.

In consultation with technical advisers, including DRW Geological Consultants Ltd., Respec and others, the diamond drill program is designed to test the resource at different locations to confirm grade variability and further validate the resource to confirm and improve the mineral resource categories. A total of 35 diamond drill holes are being considered, testing all of the zones at 100 metres (plus or minus) by 100 metres (plus or minus) across the 1,200-metre-long deposit to 100 metres below the depth of the modelled open pit. Geomechanical measurements will be collected to allow for pit optimization.

The Mexican Hat project's principal controlling structure has been drilled from surface, where it dips 59 degrees to a depth of 250 metres below surface, where the dip appears to have flattened to 24 degrees. Subsidiary structures appear as splays off of this principal structure (zones 1 to 6 inclusive) extend up to 220 metres into the hangingwall.

Ian Klassen, chief executive officer, commented: "We are very excited to get under way with the upcoming drill program in early 2026 Receiving the Mexican Hat project drill authorization is an important milestone for shareholders. With strong historical results and a compelling plan to advance our company on the heels of a promising PEA [preliminary economic assessment], GMV is positioned for a very meaningful drill campaign."

2025 PEA highlights

The company filed the PEA (as defined below) on Sept. 8, 2025, which included that following highlights:

• The base case generates a pretax internal rate of return (IRR) of 66.1 per cent (after tax: 50.2 per cent) and a pretax net present value (NPV) at a 5-per-cent discount rate of $390.2-million (U.S.) (after tax: $268.3-million (U.S.)) with a 1.53-year payback (after tax: 1.82 years) of invested capital using a gold price of $2,500 (U.S.) per ounce;
• Based on price sensitivity analysis at approximately the current price of $4,000 (U.S.) per ounce of gold, the project returns a pretax IRR of 134.2 per cent (after tax: 104.2 per cent) and a pretax NPV at a 5-per-cent discount rate of $1,055-million (U.S.) (after tax: $744.4-million (U.S.));
• Base-case mine life of 10 years with total production of 597,841 ounces, averaging approximately 60,000 ounces per year;
• Crushed mineralized material will be conveyor stacked at a rate of approximately 10,000 tonnes per day on a conventional heap-leach pad;
• Capex (capital expenditure): $89,997,000 (U.S.) (including $15.4-million (U.S.) contingency);
• Low LOM (life-of-mine) strip ratio of 2.05;
• Engineering design analysis indicates the potential to increase pit size and contained ounces with increased gold prices.

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. The company's National Instrument 43-101 resource estimate (inferred) is 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, with an effective date of Aug. 8, 2025.

Technical report and qualified persons

The technical report, entitled "Updated Preliminary Economic Assessment, Mexican Hat Project," with an effective date of Aug. 8, 2025, was prepared by the following qualified persons (as defined under NI 43-101), all of whom are independent of the company:

• Brian Olson, qualified person, Samuel Engineering Inc. (metallurgical test work and recovery, process plant, and process operating costs);
• Steven Pozder, PE, Samuel Engineering (project economics and infrastructure);
• Dr. Dave Webb, PhD, PEng, PGeo, DRW Geological Consultants Ltd. (mineral resource estimate, mineral reserve estimate, property description and location, accessibility, climate, local resource, infrastructure and physiography, history, geological setting and mineralization, deposit types, exploration, drilling, sample preparation, analysis and security, and data verification);
• Thomas L. Dyer, PE, Respec LLC (mine design, production schedule, capital and operating costs);
• Francisco J. Barrios, PE, BBA Consultants International LP (pad design and loading);
• Dawn Garcia, CPG, PG, Stantec Consulting Services Inc. (environmental).

Technical information and cautionary note regarding inferred mineral resources

The mine plan evaluated in the PEA is preliminary in nature and includes inferred mineral resources (as defined by NI 43-101) that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be converted to mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Additional drilling and technical studies will need to be completed in order to fully assess its viability. There is no certainty that a production decision will be made to develop the Mexican Hat project or that the economic results described in the PEA will be realized. Mine design and mining schedules, metallurgical flow sheets, and process plant designs will require additional detailed work and economic analysis and internal studies to ensure satisfactory operational conditions and decisions regarding future targeted production. Key assumptions, qualifications and estimates to the results of the PEA are contained in the PEA.

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

We seek Safe Harbor.