VANCOUVER, BC / ACCESS Newswire / October 7, 2026 / GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce the completion of the 2026 drilling program at the Mexican Hat Gold project in southeast Arizona. A total of 4,775 m has 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 >75^o in order 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 gpt gold over 4.88 m in MHC26-14
• 3.30 gpt gold over 12.39 m in MHC26-24
• 1.33 gpt gold over 29.57 m in MHC26-09

An extensive listing of significant gold intercepts is shown in Table 2 on the following pages.

Ian Klassen, President & CEO 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 that was last compiled over six years ago in June 22, 2020 using a base case of $1,375/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% as reported in the August 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 (PCS) 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.

Table 1. List of drill holes completed and sampled, showing assay status.

Over 94 significant mineralized intervals were encountered that exceed the previous minimum cut of grade of 0.2 gpt gold. The 94 intercepts average 0.87 gpt gold over 7.74 m as shown in Table 2 below. The drilling has now tested over 90% of the mineralization.

All assays we completed at an independent certified laboratory using standard logging, drying, crushing, and sample preparation to produce an 85% -75 μm. Analysis by 30 g 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.

Ongoing 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 NI 43-101 Mineral Resource Estimate.

Table 2. List of significant gold intercepts >0.2 gpt from 2026 diamond drill program.