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GMV Minerals Amends Daisy Creek Lithium Project Agreement, Expanding Exploration Time

GMV Minerals Inc. (TSXV: GMV) (OTCQB: GMVMF) has successfully renegotiated its Option Agreement with Western Property Holdings, LLC for the Daisy Creek Lithium Project in Nevada.

Agreement Amendments Boost GMV Minerals’ Exploration Flexibility

The revised terms include a significant reduction in the initial cash option payment and share installment, alongside deferring the minimum work requirements. Importantly, these changes grant GMV additional time to enhance its exploration efforts on the property.

Key Amendments to the Agreement

The cash payment due by June 2024 is now reduced to US$10,000 from US$100,000, with the balance deferred. Share installment has been adjusted to 500,000 common shares, with further issuance postponed. Additionally, the minimum exploration work commitment is pushed to 2026, amplifying the project’s scope.

Expansion and Support for the Daisy Creek Project

With the land position at Daisy Creek doubled, GMV’s leadership expresses gratitude towards Western Property Holdings for their support. This strategic shift aims at advancing the project by aligning with current market conditions.

Stock Options and Company Overview

Following Venture Exchange approval, GMV announced incentive stock options for its members, alongside a brief overview of its focus on precious metal assets in Arizona and the expanded exploration on Daisy Creek for lithium and uranium.

Ian Klassen, President & CEO of GMV Minerals, emphasizes the collaborative spirit of the optionors and the optimistic future of the project through these amicable adjustments.

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