GMV Minerals Receives Drill Permits at the Mexican Hat Gold Project

Rhea-AI Summary

GMV Minerals (OTCQB:GMVMF) received Bureau of Land Management drill permits for its 100% owned Mexican Hat gold project in SE Arizona, subject to posting required reclamation bonding.

GMV has contracted Harris Exploration Drilling for ~35 diamond holes totaling ~7,300 m, targeting start in early spring 2026 to test grade variability and validate resource categories across a 1,200 m deposit to ~100 m below modeled open pit.

The company references a Sept 8, 2025 PEA with a base-case pre-tax NPV5% of US$390.2M (after-tax US$268.3M), pre-tax IRR 66.1% (after-tax 50.2%), 10-year mine life and inferred resource of 688,000 oz gold.

Positive

• Received BLM drill permits (subject to reclamation bonding)
• Planned drill program: ~35 holes totaling ~7,300 m
• PEA base-case pre-tax NPV5%: US$390.2M and pre-tax IRR: 66.1%
• NI 43-101 Inferred resource: 688,000 oz gold (36,733,000 t at 0.58 g/t)

Negative

• Resource classification is Inferred, considered too speculative for economic certainty
• PEA is preliminary and relies on assumptions that require additional drilling and studies
• Drill program contingent on posting reclamation bonding/financial guarantee
• Estimated CapEx: US$89.997M (includes US$15.4M contingency)

VANCOUVER, BC / ACCESS Newswire / December 4, 2025 / GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that, subject to posting and acceptance of the required reclamation bonding/financial guarantee, it has received the necessary drill permits from the Bureau of Land Management to proceed with its next phase of diamond drilling at its 100% owned Mexican Hat gold project located in SE Arizona (the "Mexican Hat Project").

Harris Exploration Drilling has been chosen to drill approximately 35 holes, totaling approximately 7300 meters of diamond drill core on the Mexican Hat Project. The Company expects the drilling program to commence in early spring 2026.

In consultation with technical advisors, including DRW Geological Consultants Ltd., RESPEC, and others, the diamond drill program is designed to test the resource at different locations to confirm grade variability and further validate the resource to confirm and improve the Mineral Resource categories. A total of 35 diamond drill holes are being considered, testing all of the zones at 100 m +/- by 100 m +/- across the 1,200 m long deposit to 100 m below the depth of the modeled open pit. Geomechanical measurements will be collected to allow for pit optimization.

The Mexican Hat Project's principal controlling structure has been drilled from surface, where it dips 59^o to a depth of 250 m below surface where the dip appears to have flattened to 24^o. Subsidiary structures appear as splays off of this principal structure (Zones 1 to 6 inclusive) extend up to 220 m into the hanging wall.

Ian Klassen, CEO commented "We are very excited to get underway with the upcoming drill program in early 2026 Receiving the Mexican Hat Project drill authorization is an important milestone for shareholders. With strong historical results and a compelling plan to advance our Company on the heels of a promising PEA, GMV is positioned for a very meaningful drill campaign."

2025 PEA Highlights:

The Company filed the PEA (as defined below) on September 8, 2025, which included that following highlights:

• The Base Case generates a pre-tax Internal Rate of Return ("IRR") of 66.1% (after-tax 50.2%) and a pre-tax net present value ("NPV") at a 5% discount rate of US$390.2 million (after-tax US$268.3 million) with a 1.53-year payback (1.82 year after-tax) of invested capital using a US$2,500 per ounce gold price.

• Based on price sensitivity analysis at approximately the current price of US$4,000 per ounce of gold, the project returns a pre-tax IRR of 134.2% (after-tax 104.2%) and a pre-tax NPV at a 5% discount rate of US$1.055 billion (after-tax US$744.4 million).

• Base Case mine life of 10 years with total production of 597,841 ounces, averaging approximately 60,000 ounces per year.

• Crushed mineralized material will be conveyor stacked at a rate of approximately 10,000 tonnes/day on a conventional heap leach pad.

• Capex: US$89,997,000 (including US$15.4 million contingency).

• Low LOM Strip Ratio of 2.05

• Engineering design analysis indicates the potential to increase pit size and contained ounces with increased gold prices.

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. The Company's NI 43-101 resource estimate (Inferred) is 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold, with an effective date of August 8, 2025.

Technical Report and Qualified Persons

The technical report entitled "Updated Preliminary Economic Assessment, Mexican Hat Project" (the "PEA"), with an effective date of August 8, 2025 was prepared by the following Qualified Persons (as defined under NI 43-101), all of whom are independent of the Company:

• Mr. Brian Olson, Q.P., Samuel Engineering, Inc. (Metallurgical Test Work and Recovery, Process Plant and Process Operating Costs)

• Mr. Steven Pozder, P.E., Samuel Engineering, Inc. (Project Economics and Infrastructure)

• Dr. Dave Webb, Ph.D., P.Eng., P.Geo., DRW Geological Consultants Ltd. (Mineral Resource Estimate, Mineral Reserve Estimate, Property Description and Location, Accessibility, Climate, Local Resource, Infrastructure and Physiography, History, Geological Setting and Mineralization, Deposit Types, Exploration, Drilling, Sample Preparation, Analysis and Security, Data Verification).

• Mr. Thomas L. Dyer, P.E., RESPEC LLC. (Mine Design, Production Schedule, Capital and Operating Costs)

• Mr. Francisco J. Barrios, P.E., BBA Consultants International LP (Pad Design and Loading)

• Ms. Dawn Garcia, CPG, PG, Stantec Consulting Services Inc. (Environmental)

Technical Information and Cautionary Note Regarding Inferred Mineral Resources

The mine plan evaluated in the PEA is preliminary in nature and includes Inferred Mineral Resources, as defined by NI 43-101 that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be converted to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Additional drilling and technical studies will need to be completed in order to fully assess its viability. There is no certainty that a production decision will be made to develop the Mexican Hat Project or that the economic results described in the PEA will be realized. Mine design and mining schedules, metallurgical flow sheets and process plant designs will require additional detailed work and economic analysis and internal studies to ensure satisfactory operational conditions and decisions regarding future targeted production. Key assumptions, qualifications and estimates to the results of the PEA are contained in the PEA.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this report, such as "Measured," "Indicated," "Inferred," and "Resources," that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC.

ON BEHALF OF THE BOARD OF DIRECTORS

________________________________________

Ian Klassen, President

For further information please contact:

GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
Email: Klassen@gmvminerals.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Forward-looking information contained in this news release include, but are not limited to, statements or information with respect to: the anticipated drilling program on the Mexican Hat Project, including timing thereof, the results of the PEA, including the IRR and NPV, life of mine and production, capital expenditures, cost estimates; and the mine plan, future plans; mineral resources; and future gold prices. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. Assumptions upon which forward-looking information contained in this news release is based, without limitation, include: results of the drill program on the Mexican Hat Project and future exploration; gold prices; accuracy of the results of the PEA, including key assumptions and methods used to determine mineral resources and the results of the PEA; the ability to obtain required permits and approvals; the ability to execute future plans; exchange rates; ability to obtain funding; and changes in regulatory or community environment. Risks, and uncertainties include: results of further drilling and exploration; risks related to mineral tenure, permits and approvals; risks related to the execution of future plans; changes in gold price and exchange rates; risks related to obtaining financing; foreign country risks; regulatory risks and liabilities; and those risks and uncertainties as further described in the Company's filings with Canadian securities regulators which can be found on SEDAR+ at www.sedarplus.ca under the Company's profile. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

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.

SOURCE: GMV Minerals, Inc.

View the original press release on ACCESS Newswire

FAQ

What did GMV Minerals (GMVMF) announce on December 4, 2025 about Mexican Hat drilling?

GMV announced it received BLM drill permits (subject to reclamation bonding) and plans ~35 diamond holes (~7,300 m) starting early spring 2026.

How large is the Mexican Hat inferred resource reported by GMV (GMVMF)?

GMV reports an NI 43-101 Inferred resource of 36,733,000 tonnes grading 0.58 g/t, containing 688,000 ounces of gold (effective Aug 8, 2025).

What are the key PEA economics cited by GMV for Mexican Hat (GMVMF)?

The Sept 8, 2025 PEA shows base-case pre-tax NPV5% of US$390.2M, pre-tax IRR of 66.1%, and a 10-year mine life (US$2,500/oz gold).

When will GMV's Mexican Hat drill program begin and who will drill (GMVMF)?

The company expects drilling to commence in early spring 2026 with Harris Exploration Drilling under contract.

What is the scope and purpose of GMV's 2026 drill program at Mexican Hat (GMVMF)?

The ~35-hole program (~7,300 m) will test grade variability, validate resource categories and collect geomechanical data across a 1,200 m deposit to ~100 m below the modeled pit.

What permitting or financial conditions remain before GMV (GMVMF) can start drilling at Mexican Hat?

Drilling is subject to posting and acceptance of the required reclamation bonding/financial guarantee with regulators.