Funds Managed by Libra Advisors, LLC Acquire Units of GMV Minerals Inc. for
Investment Purposes

TORONTO, Oct. 28 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds") acquired 3,556,000 Units of GMV Minerals Inc. ("GMV") at a price of $0.45 per unit pursuant to GMV's private placement of units.  Each unit is comprised of one common share and one half of one common share purchase warrant.  Each warrant entitles the holder to purchase one common share in the capital of GMV at a price of $0.60 for a period of 24 months after the closing date.

As a result of the acquisition, the Funds now hold 13,556,000 common shares representing approximately 24.03% of the total outstanding common shares of GMV, and 6,778,000 warrants of GMV that, if exercised, would result in the Funds' holding approximately 32.18% of the total outstanding common shares of GMV.

The Funds acquired the common shares and warrants for investment purposes and may, from time to time, acquire additional securities of GMV or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to Libra Fund, L.P. and Libra Offshore Master Fund, L.P. with principal offices at 909 Third Avenue, 29^th Floor, New York, NY 10022.

For further information:

Mr. Ranjan Tandon, Managing Member, at [phone]