GMR Global Mineral Resources Corp.

GMR Global Mineral Resources Corp.

December 20, 2011 13:18 ET

GMR Clarifies Disclosure for BCSC

TORONTO, ONTARIO--(Marketwire - Dec. 20, 2011) - As a result of a review by the British Columbia Securities Commission, GMR Global Mineral Resources Corp. (FRANKFURT:GLLN) are issuing the following news release to clarify the company's disclosure.

The BCSC has expressed concern that the company disclosed resource estimates and the results of an economic analysis for the Red Elephant property. The company has since prepared and filed a NI 43-101 technical report for the Red Elephant property. There are no current mineral resources for the Red Elephant property and the company has not done an economic analysis on this property. Previously reported resource estimates are historical and conceptual in nature and have not been verified by the company and therefore should not be relied upon.

The BCSC has also expressed concern that the company disclosed resource estimates for the Enterprise property. In a previous News Release dated November 7, 2011, the company clarified their disclosure and removed any reference to the Enterprise property from its webpage. The company has not done any exploration on the Enterprise property and therefore is not aware of any mineralization being present. Previous references to mineralization refer to an occurrence reported on the British Columbia's MINFILE database and which is located immediately adjacent to Global Mineral Resources Enterprise mineral claim.

The BCSC has expressed concern that the company disclosed misleading information on its webpage with a respect to high grade assays from a number of properties and that production from the King Midas property is scheduled to commence in 2013. There are no current mineral resource estimates and the company has not completed an economic analysis for the King Midas property. All of this information has been removed from the web page and all information presented is now NI 43-101 compliant. In addition, the company has removed all references to previous News Releases that contain non-compliant information from its webpage.

The company also retracts any previous statements referring to production estimates and dates for the Red Elephant, King Midas, and Enterprise properties. All of these properties are still in an early exploration stage, and any implication of economic viability of any of these projects is premature.

Stephen B. Butrenchuk, P. Geol., is the independent Qualified Person, as defined by National Instrument 43-101 who has reviewed and approved the technical content of this News Release.

About GMR Global Mineral Resources Corp.

GMR Global Mineral Resources Corp. (GMR) (FRANKFURT:GLLN) is a Canadian-based resource, exploration and development company that primarily redevelops past-producing gold and silver mining properties. The company focuses on properties that were not fully exploited due to old technology or weak precious metal prices. By implementing modern exploration and extraction methods, GMR's strategy is to profitably revitalize these mines. GMR is a significant holder of mineral tenures in British Columbia, Canada (Slocan Valley and Zeballos), most of which are past-producing gold or silver properties. For additional information on the company and its properties, please visit


This press release is prepared for the sole purpose of public announcement of the organization of the Advisory Board of GMR Global Mineral Resources Corp. Certain information contained in this press release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The word "intend" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. GMR cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of GMR to be materially different from GMR's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. GMR disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. This press release does not constitute or form part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.

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