GPM Metals Now Cleared to Drill Zinc Targets at the Walker Gossan Project on Trend with Mt Isa and McArthur River Within the Carpentaria Zinc Belt, the World's Largest Zn-Pb Province

Rhea-AI Summary

GPM Metals Inc. (TSXV: GPMTF) has received approval from Traditional Landowners for its 2024/2025 exploration work program at the Walker Gossan Project in the Carpentaria Zinc Belt. The program includes on-ground works and a diamond drilling campaign of up to 30 holes, targeting large, coincident gravity, radiometric, and geochemical anomalies indicative of giant polymetallic gossan systems.

Key points:

• Geology team to mobilize in coming weeks to establish a work camp and finalize drill targets
• Drilling campaign planned to commence in early September 2024
• Agreement grants rights for both exploration and potential full mining operation
• GPM completed a Sale and Purchase agreement with Rio Tinto Exploration, preserving farm-in rights while giving GPM control over the tenements

Positive

• Approval from Traditional Landowners for 2024/2025 exploration program
• Rights granted for both exploration and potential full mining operation
• Planned diamond drilling campaign of up to 30 holes
• Completed Sale and Purchase agreement with Rio Tinto Exploration, giving GPM control over tenements

Negative

• None.

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Toronto, Ontario--(Newsfile Corp. - August 12, 2024) - GPM Metals Inc. (TSXV: GPM) ("GPM" or the "Company") last week presented the 2024/2025 exploration work program to Traditional Landowners at a meeting convened by the Northern Land Council. We are pleased to announce that the Traditional Owners have approved this program which includes on ground works and a diamond drilling program of up to 30 holes. We thank the Northern Land Council for facilitating this meeting and the Traditional Owners for their time and consideration.

The drill program is designed to test several large, coincident, gravity, radiometric and geochemical anomalies, which are indicative of the giant polymetallic gossan systems located on the Eastern Australian Cratonic Edge such as MacArthur River, Century and Mount Isa.

GPM will mobilise its geology team in the coming weeks to establish a work camp and begin a range of on ground geology work to finalise the drill targets. The Company plans to commence a drilling campaign in early September 2024. We are looking forward to working with the Traditional Owners on this program.

It is important to note that the agreement we have achieved with the Traditional Owners today not only grants us the rights to explore but also the rights to develop a full mining operation.

GPM has also recently completed a Sale and Purchase agreement with Rio Tinto Exploration ("RTX"). The Sale and Purchase agreement preserves the farm in rights of RTX but gives GPM absolute integrity over these prospective tenements and the surrounding tenement areas.

Daniel Noone, Chairman, commented, "After 10 years of hard work moving the Walker Gossan Project forward, with our partner Rio Tinto, we are extremely excited to drill these large gravity anomalies with the support of the Traditional Land Owners."

For further information please contact

Information
GPM Metals Inc.
Suite 1101- 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone: + 416 997 7507
Email: info@gpmmetals.com

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.

Forward-Looking Statements

Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, the anticipated size and completion the Offering and the receipt of applicable regulatory approvals, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219561

FAQ

What is the Walker Gossan Project and where is it located?

The Walker Gossan Project is an exploration project located in the Carpentaria Zinc Belt, which is the world's largest Zn-Pb province. It's on trend with major deposits like Mt Isa and McArthur River.

What approvals has GPM Metals (GPMTF) received for the Walker Gossan Project?

GPM Metals has received approval from Traditional Landowners for its 2024/2025 exploration work program, which includes on-ground works and a diamond drilling program of up to 30 holes.

When is GPM Metals (GPMTF) planning to start drilling at the Walker Gossan Project?

GPM Metals plans to commence a drilling campaign at the Walker Gossan Project in early September 2024.

What is the significance of the agreement GPM Metals (GPMTF) has with the Traditional Owners?

The agreement grants GPM Metals rights not only for exploration but also for the potential development of a full mining operation at the Walker Gossan Project.