An anonymous director reports

GPM METALS COMPLETES NON-BROKERED PRIVATE PLACEMENT

GPM Metals Inc. has closed the previously announced non-brokered private placement of 13,333,333 units of the company at a price of 7.5 cents per unit for aggregate gross proceeds of approximately $1-million. Each unit consists of one common share of the company and one common share purchase warrant of the company. Each warrant entitles the holder thereof to acquire one common share of the company at a price of 10 cents until Feb. 24, 2029.

The proceeds of the offering will be used by the company for exploration efforts at its Walker gossan project located in Australia and for general corporate purposes and working capital.

The offering is subject to the receipt of the final approval of the TSX Venture Exchange. All securities issued under the offering are subject to a hold period expiring four months from the date hereof. No finders' fees were payable in connection with the offering.

Insiders of the company subscribed for 2,325,001 units under the offering. The insiders' participation in the offering constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders exceeds 25 per cent of the company's market capitalization. A material change report in connection with the participation of the insiders in the offering will be filed fewer than 21 days in advance of the closing of the offering, which the company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the offering in an expeditious manner.

About GPM Metals Inc.

GPM Metals is a mineral exploration company exploring for large base metal deposits in Australia. The company's wholly owned Walker gossan project is a district-scale (190,000 hectares) zinc-silver-lead project in East Arnhem Land, Northern Territory, Australia.

We seek Safe Harbor.