GMV Minerals begins drilling at Mexican Hat

• GMV Minerals has officially commenced drilling at the Mexican Hat gold deposit in southeastern Arizona as of April 16, 2026.
• The program is a confirmatory core drilling initiative designed to test approximately 90% of the mineralization within the existing resource model.
• Drilling scope covers a strike length of 1,000 metres and true width of 400 metres, spanning elevations from 1,565m down to 1,185m.
• Key objectives include confirming grade distribution, potentially upgrading inferred mineral resources to measured/indicated categories, and collecting geotechnical data for open pit modeling.
• The company is fully funded for the 2026 drill season following a non-brokered private placement closed in December 2025 raising approximately $4.53 million.
• Drilling contractor KP Exploration Inc. is engaged for ~30 holes totaling ~7,000m of diamond core.

• The commencement of drilling is an execution milestone rather than a discovery event; it confirms the company has secured permits and funding as previously announced in April 2026 mobilization updates.
• While positive for operational progress, the news does not contain new geological data or resource estimates that would materially alter valuation immediately.
• The PEA released in September 2025 established strong economics (IRR 66.1% pre-tax at $2,500/oz), and this drilling program is designed to de-risk those assumptions by upgrading the resource confidence.
• No new strategic investors or major capital raises are announced with this release; the financing was completed in December 2025.
• The news validates management's ability to execute on their stated plan, reducing execution risk but not changing the fundamental investment thesis significantly at this stage.

• Company: GMV Minerals Inc., a gold exploration company focused on the Mexican Hat Gold Project in Cochise County, SE Arizona.
• Flagship Project: Mexican Hat deposit is an open-pit heap leach project with 100% ownership by GMV Minerals.
• Resource Estimate: NI 43-101 Inferred Mineral Resource of 36,733,000 tonnes grading 0.58 g/t Au (effective August 2025), containing 688,000 ounces of gold.
• PEA Highlights: Preliminary Economic Assessment indicates a pre-tax IRR of 66.1% and NPV of US$390.2M at $2,500/oz gold price; sensitivity analysis shows significant upside at higher gold prices ($4,000/oz).
• Mine Plan: 10-year mine life producing ~598k oz gold total (~60k oz/year) with a low strip ratio of 2.05 and Capex estimated at US$90M.