GFM Resources Limited
NEX BOARD : GFM.H

GFM Resources Limited

July 09, 2007 10:00 ET

GFM Resources Limited: Minera Autlan Becomes Majority Shareholder

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

GFM Resources Limited (the "Company") (NEX:GFM.H) is pleased to announce that Minera Autlan, S.A.B. de C.V. ("Autlan") has become the major shareholder of the Company. In a private transaction, Autlan acquired 9,672,390 Common shares of the Company from Grupo Ferrominero, S.A. de C.V. ("Grupo"), and gained control of approximately 76% of the Company's issued and outstanding shares.

Grupo controls approximately 80% of Autlan's shares and no change of control in the Company resulted from the acquisition of the shares.

The purpose of this transaction is to enable Autlan to diversify its activities by including exploration of minerals other than manganese through its investment in the Company. "The Company welcomes the investment of Autlan which will provide the Company with access to Autlan's exploration expertise," stated Mr. Friedrich, President of the Company.

Autlan, a Mexican company, was founded in 1953 and trades on the Mexican Stock Exchange. It is active in the manganese and ferroalloy industries in Mexico and is focused on fulfilling the manganese needs of the steel industry as well as the specialized requirements for dry battery, ceramic and micro-nutrient producers. Autlan owns two operating mines and three ferroalloy plants in Mexico. More information about Autlan is available at www.autlan.com.mx.

On behalf of the Board

GFM Resources Limited

Roman Friedrich III, President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • GFM Resources Limited
    Mr. Roman Friedrich
    President & CEO
    (604) 806-6110
    or
    GFM Resources Limited
    Mr. Salvador Miranda
    CFO
    (604) 806-6110
    (604) 806-6112 (FAX)
    Website: www.gfm-resources.com