VANCOUVER,
March 22, 2013 /CNW/ - GMV
Minerals Inc. (the "Company" or "GMV") (TSX-V: GMV) today
announces that, after a thorough review of its 2012 Guyana
exploration program, the board of directors has determined that the
Company will significantly scale back its exploration activities in
Guyana for the remainder of 2013.
GMV will retain its option to earn a 100% interest in select land
packages including 1 large prospecting licence and 97 medium scale
licences.
The Company currently has working capital in
excess of $1.6 million in cash and
liquid securities, and no debt. Certain assets related to surplus
exploration operations that are no longer required are being sold.
The proceeds from any such sales will be added to the Company's
working capital.
GMV is actively searching for a value added
resource based acquisition and to that end, the Company has
established a technical committee to review advanced opportunities
that better suit the investment of company resources.
The Company will issue news if and when events
surrounding a potential acquisition or investment become
material.
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 transaction 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.
SOURCE GMV Minerals Inc.