GMV Minerals Announces Drilling Update

• GMV Minerals provided a progress update on its 2026 diamond drilling program at the wholly-owned Mexican Hat Gold Project in Arizona.
• Drilling has reached its 10th hole, totaling 1,996 meters across 430 meters of strike length.
• The company plans to expand the program to 20-25 holes (up to 4,925 meters) to test approximately 90% of the mineralization.
• Primary objectives are to confirm grade distribution, potentially upgrade the Inferred Mineral Resource, and collect geotechnical data for open pit modeling.
• The release reiterates the September 2025 Preliminary Economic Assessment (PEA) showing a pre-tax IRR of 66.1% and NPV of US$390.2M at a $2,500/oz gold price, with sensitivity reaching 134.2% IRR at $4,000/oz.
• QA/QC protocols are in place with SGS USA Inc., and all holes to date have intersected mineralization.

• The news represents expected operational progress on a drill program that was announced and funded in late 2025.
• No new assay results, resource upgrades, or financing announcements are included. The PEA economics remain unchanged from the September 2025 filing.
• The update confirms execution discipline and adherence to the planned timeline, but lacks the material new data (e.g., high-grade intersections, resource conversion to reserves) required to fundamentally alter the investment thesis.
• Given the stock's recent downtrend and the incremental nature of the update, the market impact is expected to be limited. This is a routine confirmation of activity rather than a catalyst for price appreciation.

• GMV Minerals Inc. is a junior exploration and development company focused on the Mexican Hat Gold Project in Cochise County, southeastern Arizona.
• Flagship Project: An open-pit, heap-leach gold operation. The project is currently in the exploration/PEA stage.
• Mineral Resource: 36.733 million tonnes grading 0.58 g/t Au at a 0.2 g/t cut-off, containing 688,000 ounces of gold (Inferred category, effective August 2025).
• PEA Economics (Sept 2025): 10-year mine life producing ~598,000 oz Au (~60,000 oz/yr). Pre-tax IRR of 66.1% and NPV of US$390.2M at $2,500/oz. Capex estimated at US$90M. Low life-of-mine strip ratio of 2.05.
• Development Status: BLM drill permits received. Drilling program underway to upgrade resource confidence and gather geotechnical data.