Executive Transitioning

Toronto, Ontario--(Newsfile Corp. - September 23, 2024) - As GPM Metals Inc. (TSXV: GPM) ("GPM or the Company") makes the transition from an access and permission focus to exploration, Chairman, Dan Noone, on behalf of the Board of Directors, wishes to welcome John Tait as GPM's new Chief Executive Officer and to our Board of Directors. Mr. Tait has been involved in mining exploration for over 25 years, highlighted by being President of Southern Star Resources, prior to becoming Gold Eagle Mines which was sold to Goldcorp Inc in 2008 for C$1.5 Billion. Mr. Tait has also been an Officer and Director of several exploration companies throughout his career.

The Board would like to thank Peter Walsh for his outstanding achievements while CEO. Dan Noone, Chairman of the Board, commented, "GPM would not be where we are today without the extraordinary efforts and effectiveness of Mr. Walsh in moving the project forward with the Traditional Land Owners and the Northern Land Council". Mr. Walsh will assist in the transitioning of Mr. Tait to his new role and will remain on the Board where his contributions, insights and contacts will remain invaluable.

The Board also wishes to welcome Benn Whistler as Country Manager. Mr. Whistler brings decades of experience in exploration globally, including most recently, playing a key role in the discovery of SolGold's world-class Cascabel porphyry copper-gold discoveries in Ecuador. Mr. Whistler commented: "I am excited to be involved with GPM's Walker Gossan project and look forward to drilling the potentially world class targets that exist on the property".

With the addition of Mr. Tait to the Executive Team, Dan Noone will also transition from Executive Chairman of the Board to Chairman of the Board.

EXPLORATION PROGRAM UPDATE

Following an extensive investigation of access to the remote Walker Gossan project by our Country Manager Mr. Whistler two weeks ago, exploration drilling has been deferred to the end of the wet season, or approximately the second quarter of 2025. The road accessing the property has deteriorated significantly during an 8-year absence of exploration on the property and an extreme rainfall event in the early 2024 storm season caused unexpected damage to the access route. The unexpected increase in road maintenance required to access the site has restricted the Company's exploration goals prior to the start of the wet season.

The deferral to the second quarter of 2025 will allow GPM to have the luxury of extra time to thoroughly plan for a larger exploration program next year. GPM anticipates spending additional time reviewing our exploration plans with our geophysicist, geologists and McArthur River Basin experts to further ensure we have done everything possible to fully understand and prioritize our drill targets.

About GPM Metals Inc.

GPM Metals Inc. is an exploration company with offices in Toronto. The Company's current holdings include the district scale Walker Gossan Project, NT, Australia.

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.

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