Mr. Ian Klassen reports

GMV MINERALS ANNOUNCES ASSAYS FROM 2026 DIAMOND DRILL PROGRAM INCLUDING: 12.64 GPT GOLD OVER 4.88 M IN MHC26-1

GMV Minerals Inc. has completed the 2026 drilling program at the Mexican Hat gold project in southeastern Arizona. A total of 4,775 metres have been completed over 25 diamond drill holes from 24 different drill platforms, testing the deposit over 950 m of strike length and 370 m of width.

The objective of the drill program was to enhance resource definition and provide geomechanical data to inform open-pit slope engineering. All drill holes were designed to intersect the known mineralization at angles greater than 75 degrees to provide quality intercept orientations across the true thickness of the deposit. All drill holes intersected significant gold mineralization within the established solids.

Multiple gold-bearing zones were confirmed across the known deposit with numerous notable assays, including:

• 12.64 grams per tonne gold over 4.88 metres in MHC26-14;
• 3.30 g/t gold over 12.39 m in MHC26-24;
• 1.33 g/t gold over 29.57 m in MHC26-09.

An extensive listing of significant gold intercepts is shown below.

Ian Klassen, president and chief executive officer, remarked: "MHC26-14 returned one of the highest gold drill intersections reported at the Mexican Hat project to date. All drill holes appear to have intersected significant gold mineralization within the established solids, enabling modelling refinements and an enhancement to the accuracy of the resource model. We now have great confidence in the continuity of the mineralization at the Mexican Hat gold deposit. We look forward to receipt of the updated NI mineral resource estimate this fall that was last compiled over six years ago in June 22, 2020, using a base case of $1,375 per oz gold."

The Mexican Hat gold deposit is a structurally controlled metasomatic gold deposit hosted within peralkaline Cenozoic volcanic and volcaniclastic rocks. Oxidized alkaline fluids hematized and carbonatized domains constrained to and proximal to late fractures that crosscut trachytic basalts, andesite, latities and rhyolite breccias.

Silicification is rare to absent which is believed to contribute to the excellent metallurgical results seen in previous testwork, with column-test gold recoveries up to 98 per cent as reported in the Aug. 8, 2025, technical report "Updated NI 43-101 Technical Report Preliminary Economic Assessment, Mexican Hat Project."

Modelling has developed seven zones with a listric normal fault, termed the principal controlling structure extending for more than 1,500 m to the northwest and dipping moderately to the northeast. Six other structures appear to branch off the PCS striking to the east-northeast and extend up to 450 m.

The 25 new drill holes will be incorporated into a revised NI 43-101 mineral resource estimate, which the company intends to release in the coming months.

Over 94 significant mineralized intervals were encountered that exceed the previous minimum cut of grade of 0.2 g/t gold. The 94 intercepts average 0.87 g/t gold over 7.74 m. The drilling has tested over 90 per cent of the mineralization.

All assays were completed at an independent certified laboratory using standard logging, drying, crushing and sample preparation. Analysis by 30-gram fire assay with ICP AES was completed on all samples with suitable overlimit was completed. A total of 189 external blanks and standards together with duplicates and internal laboratory blanks and standards were collected, and all returned acceptable results.

Continuing mineral resource work will determine what areas of the existing inferred resource may be upgraded to the higher-confidence indicated or measured resource category and will establish a revised National Instrument 43-101 mineral resource estimate.

2025 preliminary economic assessment highlights

The company filed the PEA (as defined below) on Sept. 8, 2025, which included the following highlights:

• The base case generates a pretax internal rate of return of 66.1 per cent (after tax 50.2 per cent) and a pretax net present value at a 5-per-cent discount rate of $390.2-million (U.S.) (after tax $268.3-million (U.S.)) with a 1.53-year payback (1.82 years after tax) of invested capital using a $2,500 (U.S.) per ounce gold price;
• Based on price sensitivity analysis at a more current price range of $4,000 (U.S.) per ounce of gold, the project returns a pretax IRR of 134.2 per cent (after tax 104.2 per cent) and a pretax NPV at a 5-per-cent discount rate of $1,055-million (U.S.) (after tax $744.4-million (U.S.));
• 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 per day on a conventional heap leach pad;
• Capital expenditures: $89,997,000 (U.S.) (including $15.4-million (U.S.) contingency);
• Low life-of-mine strip ratio of 2.05;
• Engineering design analysis indicates the potential to increase pit size and contained ounces with increased gold prices.

Technical report and qualified persons

The technical report entitled "Updated Preliminary Economic Assessment, Mexican Hat Project," with an effective date of Aug. 8, 2025, was prepared by the following qualified persons (as defined under NI 43-101), all of whom are independent of the company:

• Brian Olson, QP, Samuel Engineering Inc. (metallurgical testwork and recovery, process plant, and process operating costs);
• Steven Pozder, PE, Samuel Engineering (project economics and infrastructure);
• Dr. Dave Webb, PhD, PEng, PGeo, DRW Geological Consultants Ltd. (mineral resource estimate, mineral reserve estimate, property description and location, accessibility, climate, local resource, infrastructure and physiography, history, geological setting and mineralization, deposit types, exploration, drilling, sample preparation, analysis and security, and data verification);
• Thomas L. Dyer, PE, Respec LLC (mine design, production schedule, and capital and operating costs);
• Francisco J. Barrios, PE, BBA Consultants International LP (pad design and loading);
• Dawn Garcia, CPG, PG, Stantec Consulting Services Inc. (environmental).

Technical information and cautionary note regarding inferred mineral resources

The mine plan evaluated in the PEA is preliminary in nature and includes inferred mineral resources, as defined by National Instrument 43-101, that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be converted to mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Additional drilling and technical studies will need to be completed to fully assess its viability. There is no certainty that a production decision will be made to develop the Mexican Hat project or that the economic results described in the PEA will be realized. Mine design and mining schedules, metallurgical flow sheets and process plant designs will require additional detailed work and economic analysis and internal studies to ensure satisfactory operational conditions and decisions regarding future targeted production. Key assumptions, qualifications and estimates to the results of the PEA are contained in the PEA.

About GMV Minerals Inc.

GMV Minerals is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100-per-cent-owned subsidiary, has a 100-per-cent interest in a mining property lease commonly referred to as the Mexican Hat property, located in Cochise county, Arizona, United States. The project was initially explored by Placer Dome (USA) in the late 1980s to early 1990s. GMV is focused on developing the asset and realizing the full mineral potential of the property through near-term gold production. The company's NI 43-101 resource estimate (inferred) is 36,733,000 tonnes grading 0.58 g/t gold at a 0.2 g/t cut-off, containing 688,000 ounces of gold, with an effective date of Aug. 8, 2025.

We seek Safe Harbor.