GMV Minerals Inc. Closes First Tranche Non-Brokered Financing

VANCOUVER, BC / ACCESSWIRE / April 5, 2024 / 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.

Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 until April 7, 2025.

The Company paid finder's fees totalling $10,071 in cash and 67,140 warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to purchase one Common Share at a price of $0.25 until April 7, 2025. All finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies. All securities issued in this closing of the Private Placement are subject to statutory four month hold periods expiring on August 6, 2024. The Private Placement remains subject to obtaining final approval of the TSX Venture Exchange.

One "related party" to the Company (as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") participated, subscribing for 80,000 Units for proceeds of $12,000 and representing approximately 7.8% of the funds raised. Participation by such related party in the Financing constitutes a related party transaction as defined under MI 61-101. Since the Common Shares acquired by the related party is under $2.5M, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(c) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 pursuant to Subsection 5.7(b) of MI 61-101.

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.