Lago Dourado Minerals Ltd. and GPM Metals Inc. Announce Execution of Definitive Agreement

Toronto, Ontario, May 16, 2016 – Lago Dourado Minerals Ltd. (TSXV:LDM) (“Lago”) and GPM Metals Inc. (TSXV:GPM) (“GPM”) are pleased to announce that they have entered into a definitive agreement (the “Definitive Agreement”) governing the terms and conditions of the previously announced proposed acquisition (the “Acquisition”) by Lago from GPM of GPM’s interests in the Sandy Lake district, Northwestern Ontario.  A copy of the Definitive Agreement is available under the profiles of each of Lago and GPM on SEDAR at www.sedar.com.  All other details of the Acquisition remain as previously disclosed in the joint press release of Lago and GPM dated March 29, 2016, also available on SEDAR.

The Acquisition remains subject to various conditions including the receipt of all requisite shareholder and regulatory approvals (including, without limitation, the approval of the TSX Venture Exchange).

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For further information please contact:

 

Lago Dourado Minerals Ltd.

Forbes Gemmell, President and Chief Executive Officer

Tel: (416) 845-4942

Email: [email protected]com

GPM Metals Inc.

John Patrick Sheridan, Chief Executive Officer

Tel: (416) 628-5904
Email: [email protected]

Forward Looking Statements

 

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of Lago and GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although Lago and GPM believe that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as neither Lago nor GPM can give any assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the completion of the Acquisition either as currently proposed or at all, and the timely receipt of all applicable shareholder and regulatory approvals. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks that the Acquisition may not be completed as currently proposed or at all, and the uncertainty of obtaining all applicable regulatory and shareholder approvals, as well as certain other risks detailed from time-to-time in Lago’s and/or GPM’s public disclosure documents. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and neither Lago nor GPM undertakes any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

 

Neither the 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 and / or accuracy of this release.

 

GPM Metals Inc. Announces Increased Private Placement

May 2, 2016 (Toronto, Ontario): GPM Metals Inc. (“GPM” or the “Company”) (TSXV:GPM) is pleased to announce that it has increased the size of its previously announced non-brokered private placement (the “Offering”), which will now consist of up to 28,333,333 special warrants (“Special Warrants”) at a price of $0.15 per Special Warrant to raise aggregate gross proceeds of up to $4,250,000. All other terms of the Offering remain as previously announced by the Company on April 18 and 29, 2016.

For further information please contact:

John Patrick Sheridan
Chief Executive Officer
(416) 628-5904 ext4002
Email: [email protected]

Neither the 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 and / or accuracy of this release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to complete the Offering as currently proposed or at all, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, changes in the proposed use of proceeds of the Offering and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

GPM Metals Inc. Announces Amended Private Placement

April 29, 2016 (Toronto, Ontario): GPM Metals Inc. (“GPM” or the “Company”) (TSXV:GPM) announces today that it has amended the terms of its proposed non-brokered private placement (the “Offering”) that was previously announced on April 18, 2016, which will now consist of up to 25,000,000 special warrants (“Special Warrants”) at a price of $0.15 per Special Warrant to raise aggregate gross proceeds of up to $3,750,000. Each Special Warrant will automatically convert into one common share of the Company without any additional payment or action by the holder on the date which is four months following the closing of the Offering. The Offering is expected to close on or about May 13, 2016 and remains subject to the receipt of all regulatory approvals. The gross proceeds of the Offering will be released to the Company upon closing. Subscribers in the Offering will not be entitled to participate in the previously announced distribution of the common shares of Lago Dourado Minerals Ltd. (“Lago”) which the Company proposes to effect in connection with its sale to Lago of its property interests in the Sandy Lake district of Northwestern Ontario. Insiders of the Company may acquire up to 15,000,000 Special Warrants in the Offering. All other terms of the Offering remain as previously announced by the Company on April 18, 2016. For further information please contact: John Patrick Sheridan Chief Executive Officer (416) 628-5904 Email: [email protected] Neither the 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 and / or accuracy of this release. Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to complete the Offering as currently proposed or at all, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, changes in the proposed use of proceeds of the Offering and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

GPM Metals Inc. Announces Amendment to Record Date for Distribution

April 28, 2016 (Toronto, Ontario): GPM Metals Inc. (“GPM” or the “Company”) (TSXV:GPM) announces that at the request of the TSX Venture Exchange, ‎it has cancelled the record date of May 2, 2016 previously announced for the distribution to its shareholders of the 40,000,000 common shares of Lago Dourado Minerals Ltd.(the “Consideration Shares”) which it is to receive as consideration for the proposed sale (the “Proposed Sale”) of its property interests in the Sandy Lake district of Northwestern Ontario. The new record date for the distribution of the Consideration Shares will be set and announced by the Company closer to the closing date of the Proposed Sale. ‎

For further information please contact:

John Patrick Sheridan
Chief Executive Officer
(416) 628-5904
Email: [email protected]

Neither the 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 and / or accuracy of this release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to complete the Proposed Sale and/or distribution of the Consideration Shares as currently proposed or at all, and dependence upon shareholder and regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

GPM Metals Inc. and Lago Dourado Minerals Ltd. Respond to Goldeye Explorations Limited

April 23, 2016 (Toronto, Ontario): GPM Metals Inc. (“GPM”) (TSXV:GPM) and Lago Dourado Minerals Ltd. (“Lago”) (TSXV:LDM) wish to respond to an announcement made by Goldeye Explorations Limited (“Goldeye”) on April 22, 2016 regarding 1,412 claim units known as the “East Block” (the “Additional Interest”) which were staked by GPM surrounding the property known as the Weebigee Project. The Weebigee Project is the subject of an option agreement between GPM and Goldeye (the “Option Agreement”), the terms of which are outlined in a press release of GPM dated April 15, 2015 available on SEDAR at www.sedar.com, and both the Weebigee Project and Additional Interest are the subject of the previously announced proposed sale from GPM to Lago as disclosed in a joint press release of such parties dated March 29, 2016 available on SEDAR at www.sedar.com (the “Proposed Sale”).

Goldeye has contended that the Additional Interest has become part of the property comprising the Weebigee Project and has become subject to a 50/50 joint venture between GPM and Goldeye, all pursuant to the Option Agreement. As Goldeye did not make timely payment to GPM of its pro rata share of the costs of acquiring the Additional Interest as required, GPM disagrees with any such assertion that Goldeye has acquired, or has the right to acquire, any rights or interest in the Additional Interest.

GPM and Lago further confirm that they are proceeding with the Proposed Sale as previously announced and will provide further updates in due course.

For further information please contact:

John Patrick Sheridan
Chief Executive Officer, GPM Metals Inc.
(416) 628-5904
Email: [email protected]

Forbes Gemmell
President and Chief Executive Officer, Lago Dourado Minerals Ltd.
(416) 845-4942
Email: [email protected]

Neither the 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 and / or accuracy of this release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the Proposed Sale, ultimate resolution of the ownership of the Additional Interest, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon shareholder and regulatory approvals, and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

GPM Metals Inc. Announces Private Placement Financing and Record Date for Distribution

TORONTO, April 18, 2016 :  GPM Metals Inc. (“GPM” or the “Company“) (TSXV:GPM) is pleased to announce that it proposes to complete a non-brokered private placement (the “Offering”) pursuant to which it will issue up to  25,000,000 common shares (“Shares”) at a price of $0.15 per Share to raise aggregate gross proceeds of up to approximately $3,750,000.00. In  connection with the Offering, GPM may pay a finder’s fee to certain qualified registrants assisting in the Offering in the amount equal to 5% of the gross proceeds raised by such finders, and issue such number of broker warrants ((“Broker Warrants”) to such finders as is equal to 5% of the number of shares placed by such finders. Each Broker Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.15 for a period of 12 months. Insiders of the Company may subscribe for up to 15,000,000 Shares in the Offering.

 

The Company intends to use the net proceeds of the Offering for the exploration of the Walker Gossan Project and to advance its Pasco Project in Peru. The Offering is currently scheduled to close on or about May 6, 2016 and remains subject to the receipt of all applicable regulatory approvals.

 

The Company also announces today that in connection with its previously announced sale (the “Proposed Sale”) of its interests in the Sandy Lake district of Northwestern Ontario to Lago Dourado Minerals Ltd. (“Lago”), it has set May 2, 2016 as the record date for the distribution to its shareholders of the 40,000,000 common shares of Lago (the “Consideration Shares“) which it is to receive as consideration for such sale.  The distribution of the Consideration Shares remains subject to completion of the Proposed Sale and receipt of all applicable shareholder and regulatory approvals, including without limitation, the approval of the TSX Venture Exchange (the “TSXV”).  For further details, please refer to the joint press release of the Company and Lago dated March 29, 2016 available on SEDAR at www.sedar.com.

 

About GPM Metals Inc.

GPM Metals is a zinc focused exploration company.

The Company’s current holdings include the district scale Walker Gossan Project, NT., Australia, a joint venture with Rio Tinto Exploration PTY Limited;  and the Pasco Project , Department of Pasco Peru.

Both projects are advanced exploration properties with drill ready targets and have considerable potential to host significant zinc resources.

 

For further information please contact:

John Patrick Sheridan

Chief Executive Officer

(416) 628-5904

Email: [email protected]

 

Neither the 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 and / or accuracy of this release.

 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to complete the Offering, Proposed Sale and/or distribution of the Consideration Shares as currently proposed or at all, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon shareholder and regulatory approvals, changes in the proposed use of proceeds of the Offering and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

 

GPM Metals announces the discovery of significant Zinc anomalies at the Pasco Project, Peru

TORONTO, April 13, 2016 : GPM Metals Inc. (TSXV: GPM) (the “Company” or “GPM”) is pleased to announce an exploration update and the initial sampling results of the Pasco Project, Department of Pasco, Peru.

The 100% owned Pasco claims (6,300 hectares) are located in the Central Peruvian Zinc belt approximately 30 Km NE of the Cerro de Pasco Mine and 35km N of the Votorantim / Pan American owned Shalipayco discovery.

Mineralisation is hosted within a 5km by 500m zone of dolomitized limestones of the prolific Pucara Formation, at the contact with the Mitu Formation, within a regional scale anticline.  Structurally, on a district scale, the mineralisation is located at the intersection of a North South trending basement / basin margin structure and the North East oriented Chancay – Cerro de Pasco Megafracture which cuts and offsets the Coastal Batholith, and forced igneous migration eastwards during the Cenozoic era.

The style of mineralisation is carbonate replacement, though structurally hosted Au and Cu / Au mineralisation in adjacent claims suggests potential for later overprints of intrusive related mineralisation.

A systematic soil grid of 2,564 samples covering a 3km by 4.5km area was has been completed. XRF analysis of the samples has defined a 4.25km by 1 km trend anomalous in Silver (20ppm to 152ppm), Lead (100ppm to 3.97%) and Zinc (1000ppm to 2.7%). Two zones highly anomalous in lead and zinc have been delineated. The southern anomaly is currently 1.2km by 500m and open to the south and the northern anomaly is 500m by 500m.

Grab samples containing up to 13.3% Zinc, 19.15% Lead and 466ppm Silver have been collected from relatively fresh outcrops within the system. 130 five meter long channel rock chip samples have also been collected. In the southern anomaly, samples of strongly weathered and leached outcrop are generally anomalous in Lead and Silver, with 75m @ 9.4ppm Silver and 4075ppm Lead in Trench 1 being the best result to date.

Location and sampling results are available at the Company web site link / Projects – Peru

http://gpmmetals.ca/node/49

Asesores y Consultores Mineros S.A. have been engaged to complete an ESIA study which will take a minimum of 150 days to complete and be approved by the Environmental Studies General Directorate, Peruvian Ministry of Energy and Mines as a prelude to a drill program.

 

Sampling and Assay methodology: 

Soil samples were taken on a grid of 50 by 50 meters. The soil samples were taken from the B horizon at 25 to 30 cm depth from the surface. The weight of each sample was 2-3 kilograms.   The soil samples were analyzed using XRF (The DELTA Handheld XRF model DCC-6000) on site.

Rock Chip samples were taken in continuous channels of 30 to 75 meters long. Individual samples were 5m in length.  An electric hammer was used for rock sampling.  The weight of each sample was 3.5-4.5 kilograms. Rock samples were assayed at ALS Chemex Lab in Lima Peru using their ME-ICP61 (33 Elements four acid ICP-AES) method.

About GPM Metals Inc.

GPM Metals is a zinc focused exploration company.

 

The Company’s current holdings include the district scale Walker Gossan Project, NT., Australia, a joint venture with Rio Tinto Exploration PTY Limited;  and the Pasco Project , Department of Pasco , Peru.

 

Both projects are advanced exploration properties with drill ready targets and have considerable potential to host significant zinc resources.

 

The Company has  recently announced the sale of its Sandy Lake Gold project to Lago Dourado Minerals (V.LDM), the terms of which are outlined in a press release of GPM dated 30 March 2016. Available on SEDAR at www.sedar.com

 

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, (Vice President Exploration and a Director of GPM),  a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Geoscientists.

 

 

 

For further information contact:

GPM Metals Inc.

Att: John Patrick Sheridan,  CEO

Suite 1205 – 141 Adelaide Street West,

Toronto, Ontario M5H 3L5

Telephone : (416) 628-5904

Telefax :       (416) 628-6835

Email: [email protected]

 

Forward Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements.  Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM’s future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM’s dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM’s public disclosure documents, (including, without limitation, those risks identified in this news release and GPM’s current management’s discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

Neither the 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 and / or accuracy of this release

© 2016 GPM Metals Inc. All Rights Reserved.

GPM Metals Inc. and Lago Dourado Minerals Ltd Announce Property Sale

Toronto, Ontario, March 29, 2016 – Lago Dourado Minerals Ltd. (TSXV:LDM) (“Lago”) and GPM Metals Inc. (TSXV:GPM) (“GPM”) are pleased to announce that they have agreed upon terms of the proposed acquisition (the “Acquisition”) by Lago from GPM of GPM’s interests in the Sandy Lake district, Northwestern Ontario. These interests include a 100% interest in 1400 contiguous claim units known as the “East Block” as well as GPM’s right to earn up to a 70% interest in the Weebigee Project, also known as the “Northwest” claim block (collectively, the “Project”).

The Weebigee Project is a joint venture between GPM and Goldeye Explorations Ltd (TSXV:GGY) (“Goldeye”), the terms of which are outlined in a press release of GPM dated April 15, 2015 available on SEDAR at www.sedar.com.

GPM has agreed to sell its interests in consideration of the issuance of 40,000,000 common shares of Lago (the “Consideration Shares”). It is a condition to the completion of the Acquisition that GPM shall effect a distribution of the Consideration Shares to its shareholders immediately following the closing of the Acquisition (the “Share Distribution”). Following the closing of the Acquisition, the board of directors of Lago shall be increased to consist of five (5) directors, three (3) of which shall be nominees of Lago and two (2) of which shall be nominees of GPM. In addition, it is proposed that Lago change its name to Sandy Lake Gold Inc.

The Project consists of approximately 28,000 hectares of contiguous exploration rights and covers more than 50 km of strike length of the Sandy Lake greenstone belt. The Sandy Lake greenstone belt is located on the same geological terrain as Goldcorp Inc.’s world class Musselwhite Mine, however the Sandy Lake greenstone belt remains significantly under explored.  An aggregate of approximately 3,000 meters of historical exploration drilling had been conducted between 1932 and 1988.  Goldeye completed an exploration agreement with Sandy Lake First Nation (“SLFN”) in 2013 and conducted a further 2,200 meter shallow drill program reporting significant Au results (see Goldeye’s press release dated April 9, 2014, available on SEDAR at www.sedar.com). Utilizing both the economic and geological models of the Musselwhite Mine, the primary exploration target is a 50 km segment of a regional scale banded iron formation (BIF).  Patrick Sheridan, Chief Executive Officer of GPM, states “This transaction creates a new entity with a 100% focus on this exciting exploration project. I am sure that Lago will continue to build upon the existing relations with the SLFN community and other members of the 1910 Ontario Treaty No.5. This coveted relationship founded on the basis of respect, dialogue and cooperation is a vital asset to the success of this project.”

Forbes Gemmell, Chief Executive Officer of Lago states “This purchase allows existing shareholders of Lago to participate in the exploration of this exciting gold district. We look forward to working with Goldeye and other stakeholders to build upon the strong community relationships.”

Further Particulars of the Acquisition

Concurrently with the Acquisition, Lago will complete a private placement to raise minimum gross proceeds of Cdn$1,000,000, of which a minimum of Cdn$750,000 will be raised pursuant to the sale of “flow-through” securities and a minimum of Cdn$250,000 will be raised pursuant to the sale of non-“flow-through” securities (the “Financing”), upon terms yet to be determined.

The Acquisition will be a “non-arm’s length” transaction between the parties within the meaning of the TSX Venture Exchange (“TSXV”) policies and may be subject to a vote of disinterested shareholders due to the fact that (i) Mr. Daniel Noone serves as a director of both Lago and GPM (Mr. Noone owns 102,300 common shares of Lago representing 1.09% of common shares outstanding and owns 1,642,000 common shares of GPM representing 2.67% of common shares outstanding); and (ii) Rosseau Asset Management Ltd. (“Rosseau”) is a significant shareholder of both companies (Rosseau owns 2,374,674 common shares of Lago representing 25.19% of common shares outstanding and owns 9,500,000 common shares of GPM representing 15.44% of common shares outstanding).  Accordingly, Lago will be required to obtain shareholder approval of the Acquisition in accordance with the regulations of the TSXV.  In addition, GPM will be required to obtain shareholder approval of the Share Distribution, and may also be required to obtain shareholder approval of the Acquisition if required by the TSXV.  The boards of directors of each of Lago and GPM formed special committees comprised entirely of independent directors in order to consider and make recommendations with respect to the proposed Acquisition.

The Acquisition remains subject to various conditions including the execution of a definitive agreement, receipt of all requisite shareholder, third party and regulatory approvals (including, without limitation, the approval of the TSXV), and the receipt of an independent technical report in respect of the Project in a form acceptable to the TSXV.

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For further information please contact:

Lago Dourado Minerals Ltd.

Forbes Gemmell, President and Chief Executive Officer

Tel: (416) 845-4942

Email: [email protected]

GPM Metals Inc.

John Patrick Sheridan, Chief Executive Officer

Tel: (416) 628-5904
Email: [email protected]

Forward Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of Lago and GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although Lago and GPM believe that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as neither Lago nor GPM can give any assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the completion of the Acquisition and/or Financing either as currently proposed or at all, the timely receipt of all applicable shareholder, regulatory and third party approvals, planned exploration and drilling activities, and any plans of Lago to exercise the option to acquire an interest in the Weebigee Project; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment; the general continuance of current industry conditions; future commodity prices; currency, exchange and/or interest rates; taxes and/or environmental matters. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks that the Acquisition and/or Financing may not be completed as currently proposed or at all, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and dependence on management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in Lago’s and/or GPM’s public disclosure documents. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and neither Lago nor GPM undertakes any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

Neither the 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 and / or accuracy of this release.

GPM METALS INC. UPDATES PROGRESS AT THE WEEBIGEE PROJECT, SANDY LAKE, ONTARIO

Toronto, Canada, March 17, 2016 – GPM Metals Inc. (TSXV:GPM) (“GPM”) and Goldeye Explorations Limited (TSXV:GGY) (“Goldeye”) are pleased to announce that they have received final interpretation reports on the Weebigee Project airborne VTEM/Horizontal Gradient Magnetics Survey (“airborne survey”).  Thirty conductors/areas of interest were identified as moderate to high priority targets for gold or base metal mineralization.  These targets include extensions of known gold and base metal showings, as well as new conductive trends on recently staked claims.  A 2016 field program of prospecting, mapping, powerstripping, and ground geophysics will be used to prioritize the target areas for eventual drill testing.

GPM is the operator of the Weebigee Project.

The airborne survey, along with the 2015 staking and regional compilation programs, have begun to move Weebigee toward a much larger, greenstone belt scale, project.  This more comprehensive approach by GPM recognizes that the 2014 high-grade gold drill intersections (Knoll, Bernadette, and RvG4 zones) represent type targets that have the potential to occur throughout the Sandy Lake greenstone belt.  GPM’s approach also recognizes the base metal potential of the south portion of the belt (Sandborn Bay area).

BLOCK F

The Weebigee project now covers a 35 km long gold bearing trend.  The western portion of this trend was covered by Block F of the airborne survey.  Numerous historic gold showings are documented along this trend, hosted within a distinctive sequence of rock units dominated by iron formation and quartz-rich felsic tuff.  The Block F airborne survey has revealed that a number of iron formation/sediment horizons occur within the Northwest Arm volcanic package.  Winter 2014 drilling of gold showings in the stratigraphy immediately above the southern-most iron formation/sediment horizon returned significant intersections (12.86 g/t Au over 6.85 metres, 12.45 g/t over 3.5 metres, 23.25 g/t over 3.97 metres).  Detailed follow-up of the airborne survey results will target breaks in these iron formation/sediment magnetic and conductive trends that may represent gold bearing deformation/hydrothermal events.

BLOCK B

South of the gold trend, in the Sandborn Bay area, the geological environment appears favourable for VHMS (Volcanic Hosted Massive Sulphide) deposits.  This area was covered by the Block B portion of the airborne survey.  Known showings include Cu (up to 3%), Zn (up to 4.5%), and Ag (up to 352 g/t) values associated with cherty felsic tuffs, cordierite alteration (sediments) and talc-antigorite alteration (ultramafics).  Numerous conductors and conductive trends were outlined by the Block B airborne survey, some of which are coincident to Cu-Zn-Ag bearing cherty tuff horizons.  Several new conductive trends proximal to a felsic intrusion (potential volcanic centre) have also been outlined by the airborne survey.  Government mapping shows very little outcrop exposure along these new conductive trends.

The airborne survey consisted of 1274.5 km of horizontal gradiometer and VTEM data collected over two blocks, B and F, on the western part of the Sandy Lake greenstone belt.  The heli-based survey was flown by Geotech Ltd., of Aurora, Ontario, in September 2015.  Line separation was 200 metres with a mean sensor altitude of 45 metres.  Third party consultants interpreting the data reported that the EM and magnetic configurations of the system were well suited for the geological environment at Sandy Lake and that data was of good quality.

GPM and Goldeye wish to thank the First Nation communities of Sandy Lake and Keewaywin for their co-operation and logistical support of the ongoing mineral exploration programs.

About Weebigee

Weebigee is a gold and base metals project located near Sandy Lake in Northwestern Ontario.  The Project is approximately 225 km north of Red Lake, one of the world’s most prolific gold camps, and 200 km west of Goldcorp’s world-class Musselwhite mine.  The Project comprises a main block of 363 claim units (~6000 ha.) held 100% by Goldeye subject to an option agreement with GPM and an additional 1421 claim units (~22,000 ha.) recently staked by GPM, in the highly prospective and underexplored Sandy Lake greenstone belt.  Certain of the claims are subject to a 1% net smelter returns (“NSR”) royalty.  Weebigee lies within the traditional territory of Sandy Lake First Nation (“SLFN”) with whom Goldeye signed a comprehensive Exploration Agreement in 2013.

About GPM Metals Inc.

GPM focuses on acquiring and exploring district scale exploration properties.  Currently the two main projects are the Companies Walker Gossan Project, NT, Australia; and the Weebigee Gold Project in Sandy Lake, Ontario, Canada.

The company treasury is well funded going forward and has a strong shareholder base.  Management and insiders hold approximately 30% of outstanding shares.

About Goldeye Explorations Limited

Goldeye is a Canadian gold-focused junior exploration company engaged in the exploration and evaluation of mineral properties in Ontario, Canada.  Additional information can be found at www.goldeye.ca

All scientific and technical information in this press release has been prepared under the supervision of David Jamieson (B.Sc., P.Geo) who is a “qualified person” within the meaning of National Instrument 43-101.  Mr. Jamieson is a member of the Association of Professional Geoscientists of Ontario.

CONTACT INFORMATION

GPM Metals Inc.

Suite 1205 – 141 Adelaide Street West

Toronto, Ontario M5H 3L5

Att: John Patrick Sheridan, CEO

Tel: + 1 (416) 628 5904

Telefax: + 1 (416) 628 6835

Email: [email protected]

Goldeye Explorations Limited

Robin Luke Webster

President and CEO

Tel: +1 (905) 886 2538

Cell: +1 (416) 877 6389

Email: [email protected]

Forward Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements.  Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM’s future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM’s dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM’s public disclosure documents, (including, without limitation, those risks identified in this news release and GPM’s current management’s discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

Neither the 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 and/or accuracy of this release.

 

 

GPM METALS INC. Announces Initial Exploration Results from THE WALKER GOSSAN PROJECT, Northern Territory, Australia

TORONTO, November 12, 2015 : GPM Metals Inc. (TSXV: GPM) (the “Company” or “GPM”) is pleased to announce an exploration update and initial sampling results of the Walker Gossan Project (WGP), Arnhem Land, Northern Territory, Australia.

 

The Project is a joint venture with Rio Tinto Exploration Pty. Ltd. (see January 27, 2014 press release of the Company available on SEDAR at www.sedar.com).

Title Deed, Work Program and Exploration Licence (EL) approval was recently granted by the Northern Land Council after a series of meetings and consultations with the Traditional Land Owners (TLO’s) and GPM Metals in Numbulwar and Darwin that had been progressing since February 2014.

 

The Project tenure is held by Rio Tinto Exploration Pty Ltd with GPM acting as the operator and manager of exploration, community relations and title grant under an Earn-In / Joint Venture Agreement subject to an agreement concluded in January, 2014.

 

The WGP lies within one of the great metallogenic provinces of the world, the North Australian Zinc Province (NAZP); which currently provides 30% of the world zinc production from a number of significant silver, lead, zinc deposits;   including the Mt. Isa, George Fisher, McArthur River and Century Mines.

 

To date, the Company has flown an airborne magnetics program of 50m line space over the target area as well as an IP geophysical survey, geological mapping and completed the initial ‘first pass’ reconnaissance soil sampling  of the primary area of historical interest at the southern portion on EL 24305. The target area on EL 24305 was identified in 1972 and had been held under continual exploration licence application (ELA) by Rio Tinto since that time.

 

The exploration target is a large, strata bound, sediment hosted lead – zinc deposit. Initial soil and rock sampling results have demonstrated a Pb-Zn mineralization over a 3km length at surface.

 

Soil results have defined a continuous 3km X 500m corridor of anomalous lead, including a 1400m long contour of plus 500ppm Pb with a maximum of 2800ppm. Rock chips have confirmed the soil results with values as high as 1.8% lead.

 

The initial assessment of the results of the IP survey confirm elevated chargeability associated with the targeted mineralized zone. These results are currently being interpreted, compiled and integrated into the Company data base to design a drilling program for 2016.

 

Patrick Sheridan, CEO of GPM Metals Inc. states that “These initial results confirm our belief the WGP may possibly represent a district target of major significance.”

 

 

Sampling Details.

A systematic soil sampling programme was undertaken on E-W lines.  The soil sampling programme comprised 767 soil samples which included broad spaced soil sampling as well as targeted close spaced sampling.  Rock chip sampling was conducted in conjunction with close spaced soils and on select samples. A total of 64 rock chip samples were taken.

The highest soil  assay result is 2800ppm Pb .The results have been contoured at 50, 100 and 500 ppm Pb as shown in Figure 2..

The samples comprised ~ 200g of minus 2mm sieved B horizon soils which were submitted to ALS Laboratories for multi element analysis by Method ME-ICP41. This involved an aqua regia digest with analysis by inductively coupled plasma – atomic emission spectroscopy.

Rock chip samples (64) were submitted to ALS Laboratories for multi element analysis by ME-ICP61 which involves a four acid digest with analysis by inductively coupled plasma – atomic emission spectroscopy.

The highest lead assay was 1.8% Pb in sample 72851. Four other samples assayed above 1% Pb.  Of the 44 samples 18 assayed above 0.5% Pb.  These are displayed in Fig. 3.

The tabulated assay data and maps will be posted on the GPM Metals web sitehttp://gpmmetals.ca/australia/

 

 

ABOUT GPM METALS INC.

GPM Metals Inc. focuses on acquiring and exploring district scale exploration properties. The Company is currently conducting exploration programs on 3 district scale projects in stable jurisdictions.

 

Walker Gossan Project, Northern Territory, Australia – Pb-Zn-Ag

 

Sandy Lake Project, Ontario, Canada – Gold

 

Pasco Project, Pasco Province, Peru – Pb-Zn-Ag

 

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, (Vice President Exploration and a Director of GPM),  a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Geoscientists.

 

For further information contact:

 

GPM Metals Inc.

Att: John Patrick Sheridan,  CEO

Suite 1205 – 141 Adelaide Street West,

Toronto, Ontario M5H 3L5

Telephone : (416) 628-5904

Telefax :       (416) 628-6835

Email: [email protected]

 

Forward Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements.  Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM’s future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM’s dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM’s public disclosure documents, (including, without limitation, those risks identified in this news release and GPM’s current management’s discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

 

Neither the 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 and / or accuracy of this release