GMV Minerals receives $401,775 from warrant exercise

Jan 15, 2018

2018-01-15 10:26 ET – News Release

Mr. Ian Klassen reports

GMV MINERALS INC. ANNOUNCES WARRANT AND RESOURCE UPDATE

GMV Minerals Inc. has recently received funds in the amount of $401,775 from the exercise of 30-cent warrants which had an expiry date of Jan. 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, each of which is currently exercisable to purchase one common share of the company at 65 cents 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 p.m. PT on Sept. 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 quality assurance/quality control compilations. A revised resource estimate, co-authored by Dr. D.R. Webb, PhD, PGeo, PEng, and Tetra Tech Inc. will then follow.

About GMV Minerals Inc.

GMV Minerals is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100-per-cent-owned subsidiary, has a 100-per-cent interest in a mining property lease commonly referred to as the Mexican Hat project, located in Cochise county, Arizona, United States. The Mexican Hat property contains an inferred mineral resource of 23,452,000 tonnes grading 0.70 gram of gold per tonne hosting 531,400 troy ounces of gold (Dr. Webb, 2015, on SEDAR). The project was initially explored by Placer Dome (USA) in the late 1980s to early 1990s.

We seek Safe Harbor.

https://www.gmvminerals.com/news/2018/