GMV Minerals Inc. terminates agreement to acquire 100% interest in a gold
producer in El Oro Province, Ecuador

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

VANCOUVER, March 12 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V:GMV) today announces that it has terminated its previously announced (January 22, 2010) letter agreement to acquire 100% of the issued and outstanding shares of a private company ("Targetco") incorporated in El Oro Province, Ecuador.

During its due diligence of Targetco, GMV became aware that Targetco would be unable to fulfill all the terms and conditions of the agreement. GMV continues to explore other alternatives.

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 proposed Transaction and has neither approved nor disproved the contents of this press release.

SOURCE GMV Minerals Inc.

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

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