Zaff LP Purchase of Units in GB Minerals Inc.

TORONTO, ONTARIO--(Marketwired - Nov. 2, 2015) - Zaff LP ("Zaff") announced that it has participated in a non-brokered private placement offering by GB Minerals Inc. (the "Company") effective October 23, 2015, wherein Zaff purchased an aggregate of 26,788,000 common shares of the Company (the "Common Shares") at a price of $0.05 per Common Share (the "Financing").

Prior to the completion of the Financing, Zaff owned 59,874,312 common shares of the Company representing 23.7% of the Company's issued and outstanding common shares and $1,550,000 principal amount of promissory notes.

Following the Financing, Zaff owns an aggregate 86,662,312 common shares representing 26.08% of the issued and outstanding common shares of the Company.

Zaff acquired the securities for investment purposes and intends to evaluate the investment and to increase or decrease its holdings in the Company as circumstances warrant.