GFM Resources Limited

GFM Resources Limited

July 07, 2010 18:31 ET

GFM Resources Limited: Mr. Erik Jurgensen Appointed Chairman & CEO, Grant of Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2010) - GFM Resources Limited (TSX VENTURE:GFM.H) "GFM" or "the Company") is pleased to announce that, on June 24th, 2010, Mr. Erik C. Jurgensen was appointed by the Board of Directors as Chairman and Chief Executive Officer of the Company. Mr. Roman Friedrich III, who until that date had acted as President and Chief Executive Officer, will continue as a Director of the Company.

The Company also wishes to announce that, effective July 1, 2010, it granted an aggregate of 602,500 fully vested stock options to its directors, officers and consultants, pursuant to the Company's Stock Option Plan. Each option entitles the holder to purchase one common share at an exercise price of $0.10 per common share for a period of five years. The grant is subject to regulatory approval, and any shares issued on exercise of such options will be restricted from trading until November 2, 2010 pursuant to TSX Venture Exchange policies and securities legislation.

About GFM

GFM Resources Limited is a Canadian public company engaged in the business of mineral exploration in Mexico; its shares are listed on the NEX Board of the TSX Venture Exchange under the symbol GFM.H. The Company's majority shareholder is Compañía Minera Autlán S.A.B. de C.V., a company listed on the Mexico City stock exchange and active in manganese and ferroalloy operations in Mexico, in turn controlled by Grupo Ferrominero, S.A. de C.V., a private Mexican holding company that also controls other companies in domains such as electronics and investment banking.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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