GMV Minerals Inc. announces a brokered private placement financing for up to
$2.5 million

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

VANCOUVER, May 10 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V:GMV) is pleased to announce that it has entered into an agreement with Max Capital Markets Ltd. to act as Agent (the "Agent"), in connection with a brokered private placement financing (the "Private Placement") for units (the "Units") of the Company at a price to be determined in the context of the market for aggregate proceeds of up to $2.5 million, subject to regulatory approvals.

Each Unit shall be comprised of one common share (a "Common Share") and one half of one common share purchase warrant (a "Purchase Warrant"). Each whole Purchase Warrant shall be exercisable into one Common Share at an exercise price to be determined at the time of the pricing of the Units for 18 months following the closing of the Private Placement.

In consideration for its services, the Agent shall receive a placement fee equal to 8% of the aggregate gross proceeds raised in connection with the Private Placement as well as broker warrants (the "Broker Warrants") in an amount equal to 10% of the Units sold under the Private Placement, each Broker Warrant will have the same exercise price and terms as the Purchase Warrants.

The proceeds of the Private Placement will be used for exploration expenditures and for working capital and general administrative costs.

All of the Common Shares and Purchase Warrants issued pursuant to the Private Placement are subject to a four-month hold period. Completion of the Private Placement is subject to TSX Venture Exchange approval.

Incentive Share Options

In addition, the Board of Directors have granted an aggregate of 500,000 stock options to certain directors and officers of the Company and an aggregate of 200,000 stock options to certain employees and consultants of the Company to acquire an aggregate of 700,000 Common Shares pursuant to the Company's incentive stock option plan. The stock options are exercisable at a price of $0.25 per Common Share. The options will expire five years from the date of the grant.

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 Acquisition 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.

For further information: GMV Minerals Inc., Ian Klassen, Tel: [phone], www.gmvminerals.com, Email: [email protected]; Max Capital Markets Ltd., Scott Walters, Tel: [phone], www.maxcpl.com