Mexican Hat Deposit Phase Two Drill Program Planned

VANCOUVER - GMV Minerals Inc. has received all assays from its phase I 2021 summer drill program. The objective was to follow the project's prime controlling structure located primarily to the southeast of the open pit design defined in the Preliminary Economic Assessment. Confirmation of the economic presence of gold, or lack thereof, was the intention of the program. GMV can now confirm that the proposed site for the future heap leach facilities and waste dump will be acceptable in their current positions adjacent to the proposed pit.

Phase II will twin at least thirty shallow holes drilled by past operators. This wide diameter diamond drill program intends to refine the internal boundaries of the mineralization and provide geomechanical parameters which cannot be obtained from reverse circulation drilling.

The second phase of the drilling will be completed in parallel with hydrogeological and atmospheric testing being conducted by SRK Consulting (U.S.) Inc. and WestLand Engineering & Environmental Services, Inc.

Ian Klassen, CEO states, "The first phase work helped define the eastern and northern extents of the Mexican Hat Deposit. The upgrading of the geological, resource and engineering model will move the Company towards the development of the Mexican Hat Deposit."