Mr. Ian Klassen reports

GMV MINERALS ANNOUNCES COMPLETION OF 16 DIAMOND DRILL HOLES ON THE MEXICAN HAT GOLD PROJECT IN SE ARIZONA - DRILL ASSAYS PENDING WITH ~1500 SAMPLES SUBMITTED TO DATE

Drilling is proceeding well at GMV Minerals Inc.'s Mexican Hat gold project in southeastern Arizona. The company is now drilling its 17th diamond drill hole, with a total of 3,250 metres completed to date. These have been tested over 540 metres of strike length of the deposit, and from surface up to 340 metres depth.

Drilling is progressing well. To date, nearly 1,500 drill samples have been logged, prepped and submitted to the assay lab. Assays are being completed in a timely manner. Pending results have been submitted but not received whereas partial results are where results indicate that mineralization extends farther than expected and additional samples are needed to properly characterize the interval. The target zones are being encountered as and where expected. Improved understanding of the detailed geology and alteration is being enhanced as more intersections are encountered with additional targets being generated from these results.

The planned drilling will test approximately 90 per cent of the mineralization, providing confirmation of grade distribution and allowing for the inferred mineral resource to be confirmed and potentially be upgraded, and collect geotechnical information to assist in modelling of the open pit.

2025 PEA (preliminary economic assessment 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.

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 National Instrument 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 (mine design, production schedule, and 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.

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 the 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 NI 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.

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

We seek Safe Harbor.