G Mining Ventures Provides Update on Gurupi Project Licensing Process in Brazil Following Court Ruling
The Court annulled the preliminary and installation licenses issued in 2011 to a prior operator and confirmed GMIN's ability to initiate a new environmental licensing process. This process requires the submission of a full Environmental Impact Assessment and Report (" EIA/RIMA") and prior consent from the National Institute for Colonization and Agrarian Reform (" INCRA") for areas overlapping agrarian settlements. The ruling provides a clean regulatory path forward and positions Gurupi for long-term development and strategic growth.
"This ruling marks a pivotal moment for Gurupi," said Louis-Pierre Gignac, President & Chief Executive Officer. " It removes a longstanding regulatory constraint and gives us the green light to advance the project with clarity—an outcome made possible through close collaboration with multiple stakeholders since we acquired the Project. With this legal certainty, we are now well positioned to unlock the full potential of this district-scale asset through focused exploration and meaningful stakeholder engagement. This decision also reinforces GMIN's track record of navigating complex regulatory environments and creating value. It directly supports our broader vision of building the next mid-tier gold producer in the Americas."
Key Outcomes of the Court Decision
Legacy Risks Removed: The ruling annuls the 2011 licenses (Preliminary License No. 043/2011 and Installation License No. 280/2011) issued to the prior companies, eliminating historical legal and permitting liabilities and removing a long-standing constraint on the asset.
Permitting Path Reopened: GMIN is now authorized to proceed with a new licensing process based on updated technical, environmental and social studies, enabling a clean and structured approach to Gurupi's development.
Strategic Path Forward for Gurupi
This outcome is a key step in positioning Gurupi as a long-term development asset. GMIN is now moving forward with a disciplined, multi-year exploration program, complemented with environmental studies and stakeholder engagement. This formal decision is a key step in unlocking the long-term optionality of the Gurupi Project.
With an extensive ~1,900 km² land package, Gurupi plays a key role in the Corporation's multi-asset portfolio, offering both greenfield and brownfield exploration targets to support long-term mineral resource growth. The most recent mineral resource estimate (" MRE") for Gurupi, announced on February 20, 2025, includes:
1.83 million ounces (" Moz") of indicated mineral resources (43.5 Mt @ 1.31 g/t Au)
0.77 Moz of inferred mineral resources (18.5 Mt @ 1.29 g/t Au)
These resources are hosted across three deposits: Blanket, Contact (Cipoeiro area), and Chega Tudo, all with strong potential for expansion along strike and at depth.
An initial 2025 exploration budget of USD $2–4 million was designed for regional soil sampling, trenching and mapping, as well as using machine learning core logging system to capture the value of historical drillholes. Upon receipt of the necessary exploration permits, a larger budget will be mobilized to ramp up exploration in the second half of 2025.
2025 Outlook Reaffirmed
For the remainder of 2025, the Corporation will focus on the following activities:
Final environmental permit for Oko West (early Q3 2025)
Oko West financing and construction decision (H2-2025)
Greenfield and brownfield exploration (Tocantinzinho (" TZ"), Oko West and Gurupi) (2025)
Qualified Person ("QP")
The technical content of this press release has been reviewed by Julie-Anaïs Debreil, Vice President Geology & Resources of GMIN, a QP as defined in National Instrument NI 43-101 (" NI 43-101"), on behalf of the Corporation and has approved the technical disclosure contained in this news release. The MRE is summarized into a technical report that is filed on the Corporation's website at www.gmin.gold and on SEDAR+ at www.sedarplus.com in accordance with NI 43-101.
About G Mining Ventures Corp.
G Mining Ventures Corp. is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the TZ Gold Mine in Brazil and Oko West Gold Project in Guyana, both mining friendly and prospective jurisdictions.
Additional Information:
For further information on GMIN, please visit the website at www.gmin.gold
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those relating to (i) the recent ruling allowing GMIN to move forward with disciplined exploration and strategic planning, (ii) GMIN being enabled to pursue a new, modern licensing process that will enable a clean and structured approach to Gurupi's development, (iii) Gurupi representing a significant long-term growth opportunity for GMIN, (iv) Gurupi's potential for continued resource growth with several zones remaining open at depth and along strike, and (v) more generally, the sections entitled "Strategic Path Forward for Gurupi", "2025 Outlook Reaffirmed" and "About G Mining Ventures Corp."
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those relating to the MRE and the conduct of the 2025 exploration campaign, those relating to the price of gold and currency exchange rates, and those underlying the items listed in the above section entitled "About G Mining Ventures Corp."
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) GMIN will keep full control over the Gurupi timeline, (ii) a larger exploration budget will be mobilized which will ramp up exploration and yield positive results, (iii) greenfield and brownfield exploration targets will support long-term mineral resource growth, (iv) the application of the self-perform execution model will deliver results for Gurupi as it did for TZ, (v) GMIN will be able to foster cooperation with stakeholders, (vi) more generally, GMIN will achieve its stated objectives for Gurupi, (vii) GMIN will receive the final environmental permit for Oko West and will make a positive construction decision, (viii) GMIN will continue to navigate successfully through complex regulatory environments, or (ix) GMIN will successfully use TZ and Oko West to grow into the next intermediate producer, as future events could differ materially from what is currently anticipated by the Corporation. In addition, there can be no assurance that Brazil and/or Guyana will remain mining friendly and prospective jurisdictions.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the relevant sections of the Corporation's (i) Annual Information Form dated March 27, 2025, for the financial year ended December 31, 2024, and (ii) Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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