GMV Minerals Inc. Announces Exchange Approval

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

VANCOUVER, Oct. 28 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V:GMV) is pleased to announce that further to its press release issued April 7, 2010, the TSX Venture Exchange (the "Exchange") has issued its Bulletin confirming that it has accepted for filing the amended and restated letter agreement dated September 28th, 2010 (the "Letter Agreement") entered into between GMV and Shoreham Resources Ltd., RPM Explorations Inc., and Stephen Lamazon with respect to the acquisition of 100% earned interest in certain mineral rights in Guyana, South America.

The revised and restated summary of terms of the acquisition are as follows:


Cash payments:

US$40,000 upon the approval of TSX Venture Exchange (the "Exchange") US$25,000 on or before the first anniversary of Exchange approval


Share issuance:

3 million common shares of GMV Minerals Inc issued in four separate tranches of 1.2million common shares on Exchange approval and 600,000 common shares on the first, second and third anniversaries following Exchange approval.


Expenditures:

Cumulative additional expenditures of US$1.5million during a period of 4 years from Exchange approval of this transaction (year 1-US$200,000; year 2-US$300,000; year 3- US$400,000; year 4-US$600,000)


NSR:

A 2% NSR royalty, of which 1% may be purchased back by GMV at any time prior to production for a payment of US$1million.


Operator:

GMV will act as Operator rather than Shoreham Resources Ltd.

A finder's fee of 100,000 common shares of GMV will be paid to Castor Asset Management Ltd.


About GMV Minerals Inc.

GMV Minerals Inc. is a junior exploration company focused on the discovery of gold assets in Guyana, South America. The Company currently has approximately C$9M in treasury and will conduct a variety of advanced exploration programs during 2010/2011.



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 release or has in any way passed upon the merits of the transaction and has neither approved nor disproved the contents of this press release.



For further information:

GMV Minerals Inc.
Ian Klassen
Tel: (604) 899-0106
www.gmvminerals.com
Email: klassen@gmvminerals.com