GMV Minerals Inc. Announces SEDAR Filing of Updated Mexican Hat Preliminary Economic Assessment

Executive Summary

• GMV Minerals filed a NI 43‑101 Preliminary Economic Assessment for the Mexican Hat Gold Project, confirming the Base Case results previously disclosed on August 13, 2025.
• The PEA shows a pre‑tax IRR of 66.1% (after‑tax 50.2%) and a pre‑tax NPV (5% discount) of US$390.2 million (after‑tax US$268.3 million) at a gold price of $2,500/oz; sensitivity analysis at $3,350/oz yields a pre‑tax IRR of 106.8% and NPV of US$767 million.
• The project forecasts 10‑year mine life with total production of 597,841 ounces (≈60,000 oz/year), Capex of US$89.997 M, Opex of US$788 M LOM, cash cost US$1,354/oz, and all‑in sustaining cost US$1,545/oz.

Key Details

• PEA Filing: Submitted to SEDAR+; technical report prepared by Samuel Engineering Inc. with DRW Geological Consultants Ltd., RESPEC LLC., BBA Consultants International LP., and Stantec Consulting Services Inc.; effective date August 8, 2025.
• Base Case Economics (Gold $2,500/oz):
• Pre‑tax IRR: 66.1%; after‑tax IRR: 50.2%
• Pre‑tax NPV (5% discount): US$390.2 M; after‑tax NPV: US$268.3 M
• Payback period: 1.53 years (pre‑tax); 1.82 years (after‑tax)
• Price Sensitivity (Gold $3,350/oz):
• Pre‑tax IRR: 106.8%; after‑tax IRR: 82.5%
• Pre‑tax NPV: US$767 M; after‑tax NPV: US$538.1 M
• Payback period: 1.10 years (pre‑tax); 1.30 years (after‑tax)
• Production & Mine Life: 10‑year life, total 597,841 oz gold; average ≈60,000 oz/yr.
• Processing Plan: Conveyor‑stacked heap leach pad handling ~10,000 t/day of crushed mineralized material.
• Capital Expenditure (Capex): US$89.997 M, including US$15.4 M contingency.
• Operating Expenditure (Opex): US$788 M LOM; strip ratio 2.05.
• Cost Metrics: Cash cost US$1,354/oz; all‑in sustaining cost US$1,545/oz (includes sustaining capex & overhead).
• Forward‑Looking Plan (2025‑2026):
• ~7,000 m of infill drilling to upgrade resource confidence for reserve conversion.
• Metallurgical testing (column, hardness, grinding) to improve heap leach recovery and inform feasibility design.
• Trade‑off study: self‑mining & crushing vs. contract mining & crushing.
• Geotechnical drilling for pit slope optimization.
• Baseline water sampling; update hydrologic, cultural, environmental studies for permitting.
• Incentive Stock Options: Subject to TSX Venture Exchange approval, options granted to directors/officers/consultants for up to 1,325,000 common shares at $0.30 per share, exercisable over five years.

Notable Quotes

• Ian Klassen, President: “The Mexican Hat PEA economics justify continued investment in project development and set a clear path toward feasibility studies and permitting.”