GFM Announces Results of Its June 26, 2023 Annual General Meeting of Shareholders

VANCOUVER, June 30, 2023 - GFM Resources Ltd. (the "Corporation") (TSX-V: GFM.H) is pleased to announce the results of its annual general meeting of shareholders, which took place on June 26, 2023.

The shareholders received the consolidated financial statements of the Corporation for its financial year ended December 31, 2022, with the auditor's report thereon and the related management discussion and analysis.

The shareholders re-elected as directors of the Corporation Messrs. José Antonio Rivero Larrea, Esteban Rivero González, James Robertson, P. Eng., and Horacio Alcocer.

Davidson and Company LLP, Chartered Professional Accountants, was re-appointed as auditors for the Corporation for the ensuing year.

The shareholders of the Corporation also approved the Corporation's new 10% "rolling" share option plan, dated for reference May 24, 2023 (the "Option Plan"). The Option Plan complies with the recent amendments to TSX Venture Exchange policy 4.4 governing equity based compensation.

The Option Plan allows the board of directors to grant up to 10% of the outstanding common shares of the Corporation from time to time. The Option Plan is intended to enable the Corporation to attract and retain qualified personnel in a competitive marketplace and to encourage equity participation among persons who are directors, officers, employees and consultants of the Corporation, or its affiliates, or who are providing services to the Corporation or its affiliates.

About GFM Resources Limited

GFM Resources Ltd. is an emerging mineral exploration company focused on the acquisition and development of high-potential exploration properties in Mexico. Its shares are listed on the NEX Board of the TSX Venture Exchange under the symbol GFM.H. The Corporation's majority shareholder, Compañía Minera Autlán, S.A.B. de C.V., is a company listed on the Mexican Stock exchange and active in precious metal mining, power generation in Mexico as well as manganese ore and ferroalloy operations. Autlán is also engaged in electrolytic manganese dioxide production through its facility in Spain and serving the European alkaline battery industry.

For additional information, please contact:

Salvador Miranda, Chief Financial Officer
Phone: (+1) 604 925 2839

Neither 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 or accuracy of this press release.