GMV Minerals Inc V.GMV

Drill permit- why wait until the early spring to drill?

[diggin78]

GMV Minerals Receives Drill Permits at the Mexican Hat Gold Project

VANCOUVER, BC, December 4, 2025 - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: 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 59o to a depth of 250 m below surface where the dip appears to have flattened to 24o. 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

2025 PEA Highlights:

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

•

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.”

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.

•

• •

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

• Low LOM Strip Ratio of 2.05 •

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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.

 

Engineering design analysis indicates the potential to increase pit size and contained ounces with