Vancouver, British Columbia–(Newsfile Corp. – May 16, 2023)- GMV Minerals Co., Ltd. (TSXV: GMV) (OTCQB: GMVMF) (“company” again “Gross distribution“) announces that it has entered into an option agreement effective May 15, 2023 (“)Option contractPartnership with “) Western Property Holdings, LLC (“)option“) to get the exclusive option (“option“) 1,694.12 acres (“Daisy Creek Lithium Property“).

The Daisy Creek Lithium Property is located in Lander County in north-central Nevada. The property is located close to several working gold mines and has close access to power, water and paved highways. The area was owned by Phillips Uranium in the early 1970s, and uranium was mined by several oil and mining companies (“Phillips“) Excavated in 1977 and used by prominent Nevada geologist Clancy Wendt (“) in the 1980s.Wendt“) was adopted by Philips.

Drilling by Phillips identified lithium, but not uranium, in at least two boreholes in clay-altered volcanic tuff, with Li values ​​up to 2%. In a February 26, 2023 letter provided by Wendt, he said, “The company has conducted a substantial analysis of the occurrence to identify the source of the lithium. All drill additives, oils and greases used have been sampled and tested and have found no problems.” It did not return.The company noted that the lithium was likely contained in hectorite, a lithium-bearing clay mineral found in altered volcanic tuff.”** Note: These are past results. and are not subject to the QA/QC standards required by NI 43-101. These are believed to be accurate and are reported for historical purposes only.

The geology of the project is described by Stewart and McKee (1977) in NBM Bulletin 8, “Geology and Mineral Deposits of Lander County, Nevada.” The mountains consist mainly of early Miocene (23.6 – 24.5 My) tuff. This unit is crystal-rich ash flow tuff up to 3,000 feet thick. This formation covers about 200 square miles and has not been found outside the mountains of the Daisy Creek area. Within this volcanic complex, recessions of magma, rift or collapse-type structures probably associated with the apex graben, have developed. Since the initial collapse, the basin has gradually filled with an unknown thickness of clastic rock, most of which is finely-laminated tuff, likely the source of the anomalous lithium levels. The boundary of this northwesterly tectonic controlled graben is defined by mountain tuff and ranges from steep (fault) to shallow (inconformable). The basin in which the Daisy Creek project is located spans about 18 square miles and is mostly composed of fissile, finely-laminated sediments. namely, mudstone, claystone, and tuff. The basin is characterized by low relief bordered by steep terrain supported by volcanic tuff. Several small drainage channels traverse the basin, providing a detailed view of the basin’s stratigraphy. Quaternary basalt flows flow over the prominent hills of the basin.

“We are delighted to add another high-value property to our firm,” said President Ian Klassen. We think it’s a notable addition and recognize Wendt as a prominent geologist.” In Nevada, we are very excited to continue our field work on the Daisy, sharing what we have seen at Daisy Creek and Lithium America’s burgeoning Tucker Pavilion in McDermitt Caldera, Nevada. I noted the similarities with pathfinding. Li values ​​up to 20,000 ppm are attractive to say the least. ”

In order to exercise an option, we must (all payments and share issuances are voluntary in accordance with the option agreement):

1. Pay option holders up to US$350,000, of which US$50,000 has already been paid, plus three additional annual payments of US$100,000 on each anniversary from the date of acceptance of the option agreement by TSX Venture Exchange (seeapproval date“); and

2. Up to 6,500,000 shares of our common stock will be issued to option brokers in the following annual installments:

   • 1 million shares immediately after the approval date.
   • 1 million more shares from the date of approval to the first anniversary.
   • One million additional shares within two years from the date of approval.and
   • Last 3.5 million shares within 3 years from date of approval.and

3. Complete at least US$1.25 million in exploration and development expenditure for the Daisy Creek Lithium Asset (“Spending“) minimum annual expenditure:

   1. First US$250,000 expenditure before the first anniversary of the approval date.
   2. An additional US$500,000 expenditure within two years from the date of approval.and
   3. A final spend of $500,000 through the third anniversary of the date of approval.

As an additional consideration, upon exercise of the option, the Company will award the option broker a 3.0% net refiner earnings royalty (“”).Northern Sea Route) will be paid at the commencement of commercial production, and the Company may reduce the NSR by a third (to 2.0% NSR) by paying an option broker US$1 million at any time prior to the commencement of commercial production. .

The Company also announces an unbrokered private placement of up to 10,000,000 units, subject to approval from the TSX Venture Exchange (“unit“) private placement (“Recruitment“) at $0.14 Canadian dollars (CAD) per unit to raise total revenues of up to $1,400,000, consisting of one share of common stock in the Company’s capital stock (“common stock“) and one full Stock Purchase Warrant (“warrant“).

Each stock acquisition right is exercisable for up to 24 months from the closing date to purchase additional shares of common stock for $0.22 CAD.

The net proceeds from the sale will be used to advance exploration activities at the Company’s 100% managed Mexican Hat Gold Asset in southeastern Arizona, advance exploration at the Daisy Creek Lithium Project and for general working capital. Finder fees may be paid on offerings in accordance with TSX Venture Exchange policies.

Dr. DR Webb, Ph.D., P.Geo., P.Eng., is the QP for this release within the meaning of NI 43-101 and has reviewed and approved the technical content of this release.

About GMV Minerals Co., Ltd.

GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metals assets in Arizona. GMV, through its wholly-owned subsidiary, owns a 100% interest in a mining property lease commonly referred to as Mexican Hat Property located in Cochise County, Arizona, USA. This project was first considered by Placer Dome (USA) in the late 1980s and early 1990s. GMV focuses on asset development and maximizing the asset’s mineral potential through short-term gold production. Our NI 43-101 resource estimate (estimate) is 36,733,000 tonnes rating 0.58 g/t gold at the 0.2 g/t cutoff, containing 688,000 ounces of gold.

Cautionary Note Regarding Forward-Looking Information

This news release contains certain “forward-looking statements” under applicable Canadian securities laws. Forward-looking statements include estimates and statements that describe our future plans, objectives or goals, including statements that we or management expect the stated circumstances or results to occur. Forward-looking statements are defined as “believes,” “expects,” “anticipates,” “estimates,” “may,” “could,” “would,” “plan,” or “ It may be identified by terms such as “to plan”. Forward-looking statements are based on assumptions and address future events and circumstances and, by their nature, are subject to inherent risks, as described in our filings with Canadian securities regulators. and uncertainty. There can be no assurance that such statements will be accurate, as actual results or future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. .

On behalf of the Board of Directors

____________________________________________________________________
Ian Klassen, President

For more information, please contact:

GMV Minerals Co., Ltd.
Ian Klassen
Phone: (604) 899-0106
Email: info@gmvminerals.com
www.gmvminerals.com

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release..

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