GFM Resources Limited

GFM Resources Limited

March 11, 2008 16:00 ET

GFM Resources Limited: Mr. Jose Madero Appointed to the Board-Grant of Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2008) - GFM Resources Limited (NEX:GFM.H) ("the Company") is pleased to announce that Mr. Jose H. Madero has been appointed as a member of its Board of Directors.

Mr. Jose H. Madero is a shareholder and member of the Board of Directors of Grupo Ferrominero, S.A. de C.V., as well as Vice-Chairman, member of the Board and CEO for Compania Minera Autlan, S.A. de C.V., the Company's majority shareholder. He is also member of the Board for Compania Industrial de Parras, a member of the Board of Directors of Camara Minera de Mexico (Mexican Mining Chamber), as well as Treasurer and member of the Board of Camara Nacional de la Industria del Hierro y del Acero (Mexican Chamber of the Iron and Steel Industry) and member of the Board of the Paris-based International Manganese Institute (IMnI), as well as of the Instituto Tecnologico de Monterrey (ITESM). He holds a degree as Certified Public Accountant and studied a master's in Business at the Georgia Institute of Technology, in Atlanta, Georgia.

"We are pleased to have Mr. Madero join the board of GFM Resources. His experience and skills will provide guidance as we move the company forward. His appointment also represents the support which the Company is continuing to receive from its major shareholder."

Concurrently with the appointment of Mr. Madero, Mr. Lizardo Galvan is stepping down as Chief Operating Officer of the Company. Mr. Galvan is an advisor to Autlan, and as such, will continue to provide valuable services to the Company. The Board thanks Mr. Galvan for the many services directly provided to the Company for the last eight years.

The Company also announces that it has granted an aggregate of 330,000 stock options to its directors, officers and employees pursuant to the Company's stock option plan. Each option will entitle its holder to purchase one common share of the Company at an exercise price of $0.25 per share for a period of five years. The grant is subject to regulatory approval.

About GFM Resources Limited

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 Compania Minera Autlan S.A.B. de C.V. ("Autlan -"), 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. ("Grupo"), a private Mexican holding company that also controls other companies in domains such as electronics and investment banking. For more information please visit

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

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