SOURCE: GPM Metals Inc.

August 10, 2016 08:09 ET

GPM Metals Announces Commencement of Drill Program at Walker Gossan Project, NT. Australia

TORONTO, ON--(Marketwired - August 10, 2016) - GPM Metals Inc. (TSX VENTURE: GPM) (the "Company" or "GPM") is pleased to announce the commencement of a 5,000 metre drilling program at the Walker Gossan Project (WGP), Arnhem Land, Northern Territory, Australia. The program consists of approximately 20 boreholes, utilizing both diamond drill and reverse circulation (RC) drilling.

The Project is a joint venture with Rio Tinto Exploration Pty. Ltd. (see January 27, 2015 press release of the Company).

GPM is the operator of the project and has a right to earn in 51% of the project during Stage 1 of Joint Venture Agreement ("Agreement"), subject to certain conditions as outlined in the terms of the Agreement (see January 27, 2015 press release of the Company available on SEDAR at www.sedar.com).

The exploration target is a large, strata bound, sediment hosted silver-zinc-lead deposit. Initial soil and rock sampling conducted in 2015 has outlined a continuous 3 km X 500 m zone of anomalous zinc and lead.

About GPM Metals Inc.

GPM Metals is a zinc focused exploration company with offices in Toronto, Brisbane and Lima.

The Company's current holdings include the district scale Walker Gossan Project, NT, Australia, a joint venture with Rio Tinto Exploration Pty Limited; and the Pasco Project, Department of Pasco, Peru.

Both projects are advanced exploration properties with drill ready targets and have considerable potential to host significant zinc resources.

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, (Vice President Exploration and a Director of GPM), a "qualified person" within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Geoscientists.

Forward-Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "might", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM's future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM's dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM's public disclosure documents, (including, without limitation, those risks identified in this news release and GPM's current management's discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

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 and / or accuracy of this release

© 2016

Contact Information

  • For further information contact:

    GPM Metals Inc.
    Att: John Patrick Sheridan
    CEO
    Suite 1205 - 141 Adelaide Street West,
    Toronto, Ontario M5H 3L5
    Telephone : (416) 628-5904 xt 4002
    Telefax : (416) 628-6835
    Email: info@gpmmetals.ca