VANCOUVER, March 22, 2013 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) today announces that, after a
thorough review of its 2012 Guyana exploration program, the board of
directors has determined that the Company will significantly scale back
its exploration activities in Guyana for the remainder of 2013. GMV
will retain its option to earn a 100% interest in select land packages
including 1 large prospecting licence and 97 medium scale licences.
The Company currently has working capital in excess of $1.6 million in
cash and liquid securities, and no debt. Certain assets related to
surplus exploration operations that are no longer required are being
sold. The proceeds from any such sales will be added to the Company's
GMV is actively searching for a value added resource based acquisition
and to that end, the Company has established a technical committee to
review advanced opportunities that better suit the investment of
The Company will issue news if and when events surrounding a potential
acquisition or investment become material.
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.
This news release may contain forward-looking statements based on
assumptions and judgments of management of the Company regarding future
events or results. Such statements are subject to a variety of risks
and uncertainties which could cause actual events or results to differ
materially from those reflected in the forward-looking statements. The
Company disclaims any intention or obligation to revise or update such
statements except as may be required by law.
SOURCE: GMV Minerals Inc.
For further information:
GMV Minerals Inc.
Tel: (604) 899-0106