GMR Global Mineral Resources Corp.

GMR Global Mineral Resources Corp.

March 01, 2012 11:58 ET

GMR Clarifies Disclosure for BCSC Regarding Technical Report

TORONTO, ONTARIO--(Marketwire - March 1, 2012) - As a result of a review by the British Columbia Securities Commission, GMR Global Mineral Resources Corp. (FRANKFURT:GLLN) is issuing this news release to clarify the company's disclosure.

The BCSC has expressed concern that the NI 43-101 Technical Report dated November 8, 2011 for the Red Elephant property that was previously on the company's website contained a reference to a historical resource estimate. This historical estimate had not been verified by a Qualified Person nor had it been verified by subsequent exploration. Investors should therefore not rely on that report because the contained statements referring to a historical resource were incorrect and non-compliant with terms and definitions as set out by the CIM.

The company has now removed this document from its webpage and will be issuing a revised NI 43-101 Technical Report that is in compliance with NI 43-101.

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. (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


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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