GMV Minerals Inc. (TSX-V: GMV) (OTCQB: GMVMF) is pleased to report that its non-brokered private placement has closed with the issuance of 10,009,864 Units at a price of $0.14 per Unit for gross proceeds of $1,401,381 with all securities issued having a four-month hold period which expires on October 3, 2023.

Each Unit in this offering consists of one common share in the capital of the Company and one share purchase warrant. Each warrant entitles the Unit holder to purchase one additional GMV common share at a price of $0.22 per share at any time within 24 months of the closing. Finder’s fees in the amount of cash $5,519 and 39,420 warrants (with the same terms) are payable on this financing. Insiders of the Company will be participating in the private placement for $78,400 (560,000 Units).

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.