GMV Minerals Progresses with Mexican Hat Drilling Program

GMV Minerals Inc. has announced progress in its ongoing drilling at the Mexican Hat Gold Project in Arizona. Currently drilling its 10th diamond drill hole, the company has completed 1,996 meters across 430 meters of strike length. All drill holes so far have intersected mineralization, with plans for 20-25 drill holes in total. The goal is to confirm mineral resource estimates and collect data for open pit modeling.

Samples from the first five holes have been submitted to SGS USA Inc. for gold analysis. Results will be released upon verification, adhering to strict quality control standards. The project aims to confirm grade distribution and expand upon the inferred mineral resource outlined in its 2025 Preliminary Economic Assessment (PEA).

The 2025 PEA highlights include a pre-tax IRR of 66.1% and a NPV of US$390.2 million at a 5% discount rate using a gold price of US$2,500 per ounce. The project is projected to have a 10-year mine life with an annual production of approximately 60,000 ounces.