GMV Minerals Inc. Closes Non-Brokered Financing

GMV Minerals Inc. Closes Non-Brokered Financing

GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) (the "Company" or "GMV") is pleased to report that its non-brokered private placement has closed with the issuance of 10,009,864 Units at a price of $0.14 per Unit for gross proceeds of $1,401,381 with all securities issued having a four-month hold period which expires on October 3, 2023.

Each Unit in this offering consists of one common share in the capital of the Company (each a "Common Share") and one share purchase warrant (a "Warrant"). Each warrant entitles the Unit holder to purchase one (1) additional GMV common share at a price of $0.22 per share at any time within 24 months of the closing. Finder's fees in the amount of cash $5,519 and 39,420 warrants (with the same terms) are payable on this financing. Insiders of the Company will be participating in the private placement for $78,400 (560,000 Units).

The net proceeds of the Offering will be used to advance exploration activities at the Company's 100% controlled Mexican Hat gold property located in S.E. Arizona, advance exploration at the Daisy Creek Lithium project, as well as for general working capital

About GMV Minerals Inc.

GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat Property, located in Cochise County, Arizona, USA. The project was initially explored by Placer Dome (USA) in the late 1980's to early 1990's. 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 National Instrument inferred mineral resource to 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold.

ON BEHALF OF THE BOARD OF DIRECTORS

________________________________________

Ian Klassen, President

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: info@gmvminerals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169353

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GMV Minerals Inc. Files Notice of Intent to Drill Daisy Creek Project in Lander County, Nevada

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GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that it has filed permitting documentation with the Bureau of Land Management (BLM) for GMV's Daisy Creek lithiumuranium project in Lander County, Nevada

The Notice of Intent (NOI) covers a six hole drill program up to a total depth of 3000 feet and focuses on the most prospective lithium targets as defined by recent geophysical work. Upon approval and receipt of permits, GMV is targeting to drill its Daisy Creek project in June/July 2024 and will provide further updates as new information comes available.

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GMV Minerals Inc. Closes Second Tranche Non-Brokered Financing

GMV Minerals Inc. Closes Second Tranche Non-Brokered Financing

GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement. The second tranche raised gross proceeds of $80,250 from the issuance of 535,000 units (the "Units") at a price of $0.15 per Unit. The total private placement raised $301,350 in gross proceeds with the issuance of 2,009,000 Units

Each Unit consists of one common share of the Company (a "Common Share") and one half of one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 for a period of twelve months from the date issuance.

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GMV Minerals Inc. Closes First Tranche Non-Brokered Financing

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GMV Minerals Inc. (the "Company" or "GMV") (TSX-V:GMV)(OTCQB:"GMVMF") is pleased to announce that it has closed the first tranche of a non-brokered private placement. The first tranche raised gross proceeds of $221,100 from the issuance of 1,474,000 units (the "Units") at a price of $0.15 per Unit. The total private placement will raise up to $300,000 in gross proceeds with the issuance of up to 2,000,000 Units

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GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) (the "Company" or "GMV") is pleased to announce that it 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 (the "Option Agreement") for the Company's option to acquire a 100% interest in the Daisy Creek Project, Nevada, on the terms which 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 US$100,000 to US$10,000, and the parties have agreed to defer payment of the balance until June 12, 2026 (now US$190,000 in total);
  1. The first share installment due on or before June 12, 2024 has been reduced from 1 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 4 million common shares in total); and
  1. The parties have agreed to defer the minimum work requirements of US$250,000 due on or before June 12, 2024 until June 12, 2026 (now US$750,000 in total).

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