VANCOUVER, BC, January 15, 2018 - GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) is pleased to announce that it has recently received funds in the amount of $401,775 from the exercise of $0.30 warrants which had an expiry date of January 8, 2018.
In addition, the Company has received TSX Venture Exchange approval to extend the expiry date for 2,932,863 of its common share purchase warrants (the “Warrants”). The Warrants, each of which is currently exercisable to purchase one common share of the Company at $0.65 per share, were originally issued by the Company as part of a non-brokered unit private placement financing completed in September 2016. The Company has extended the expiry date of the Warrants to 4:30 pm PST on September 9, 2018. A total of 170,924 Warrants issued as finders’ warrants under the September 2016 private placement are not eligible for amendment.
The Company also wishes to confirm that all geological and modeling work pertaining to developing its updated resource calculation continues as planned. Preliminary variography confirms the principal trends of the mineralization and initial solids models have been generated. Further work on the solids will continue over the next few weeks in conjunction with the QA/QC compilations. A revised resource estimate, co-authored by Dr. D.R. Webb, PhD., PGeo., P.Eng., and Tetra Tech Inc. will then follow.
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 project, located in Cochise County, Arizona, USA. The Mexican Hat property contains an Inferred Mineral Resource of 23,452,000 tonnes grading 0.70 grams of gold per tonne hosting 531,400 troy ounces of gold. 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
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.
Tel: (604) 899-0106
This news release may contain forward-looking statements based on assumptions and judgments of management of the Company regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.