TORONTO, Sept. 3, 2015 /CNW/ - GPM Metals Inc. ("GPM")
(TSXV:GPM), is pleased to announce that it has entered into an
agreement with Francisco Javier Solano
Ore (the "Vendor"), Chaska Resources SAC and Guyana
Precious Metals Inc. (each an indirect subsidiary of GPM) providing
for the indirect acquisition by GPM of a 100% interest in the
property known as the Pasco property located in Huachon, Province
of Pasco, Department of Pasco, Peru (the "Acquisition"). The
consideration payable to the Vendor for the Acquisition will
consist of a cash payment of US$16,750 (comprised of US$13,000.00 for initial geochemical sampling,
and US$3,750.00 for payment of
tenement rent and staking costs) and the issuance of 50,000 common
shares of GPM.
The property consists of 5,500 hectares of highly prospective
ground, located approximately 25 km. NE of the historic silver,
lead and zinc Cerro de Pasco
Mine.
The property contains strong Zn, Pb, and Ag soil anomalies
hosted in a Jurassic Pucara formation.
The targeted alteration system has an estimated foot print of
500 meters X 5 kilometers.
An exploration field team is expected to be mobilizing within 15
days to the Pasco property to commence a comprehensive 7000
sample soil and rock chip sampling program. It is anticipated that
this stage of the exploration program will be completed within 10
weeks of the start date.
ABOUT GPM METALS INC.
GPM Metals Inc. focuses on acquiring and exploring district
scale exploration properties. Currently the two main projects are
the company's Walker Gossan Project, NT; and the Weebigee
Gold Project in Sandy Lake,
Ontario.
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.
The completion of the Acquisition is subject to the satisfaction
of certain conditions, including among other things, the final
approval of the TSX Venture Exchange.
Forward Looking Statements
Completion of the Acquisition is subject to a number of
conditions, including TSX Venture Exchange acceptance. The
Acquisition cannot close until the required regulatory approvals
are obtained. There can be no assurance that the Acquisition will
be completed as proposed or at all. All statements other than
statements of historical fact, included in this release, including,
without limitation, statements regarding completion of the
Acquisition and future exploration plans for the Pasco property are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the GPM's expectations are exploration risks
detailed herein and from time to time in the filings made by GPM
with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
SOURCE GPM Metals Inc.