GPM Metals Announces Private Placement

Toronto, Ontario--(Newsfile Corp. - May 10, 2023) - GPM Metals Inc. (TSXV: GPM) ("GPM" or the "Company") announces a non-brokered private placement (the "Offering") pursuant to which it will issue up to 6,000,000 units (Units) at a price of $ 0.055 each to raise aggregate gross proceeds up to $330,000.00

Each Unit will consist of one common share of the Company (a "Share") and one share purchase warrant (each whole such warrant, a 'Warrant"). Each Warrant will entitle the holder to purchase one additional Common Share of the Company at a price of $ 0.10 per Common Share for a period of 60 months from relevant closing date.

All proceeds from the sale of the Units pursuant to the Offering shall be immediately available to the Company.

Insiders of the Company may subscribe for up to 5,000,000 Units in the Offering.

The insider participation will be considered to be related party transactions within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.

The Offering is currently scheduled to close on or about June 10, 2023 and remains subject to the receipt of all applicable regulatory approvals.

For further information please contact:

Dan Noone, Executive Chairman

GPM Metals Inc.
Suite 1101- 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone: + 416 628 5904
Email: [email protected]

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.

Forward-Looking Statements

Information set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, the anticipated size and completion the Offering and the receipt of applicable regulatory approvals, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although the Company believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct and, accordingly, undue reliance should not be put on such forward-looking statements. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein.

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