GVM Gvm Metals

RNS Number:9215F
GVM Metals Ltd
18 October 2007



                                GVM METALS LIMITED

18 October 2007



            ACQUIRES SIGNIFICANT HISTORICAL DRILLING DATA ON BAOBAB

GVM Metals Limited ("GVM" or "The Company") is pleased to announce that it has
successfully completed negotiations with Exxaro Resources Limited ("Exxaro") to
acquire the historical database and geological modeling information generated by
Exxaro (then Iscor) from their exploration activities in the area during the
1970 and 80's.

The database was generated from some 1200 boreholes of which:

*   940 have detailed lithographical descriptions (detailed descriptions of 
    the individual rock types encountered in the core of the borehole);

*   980 have sample information, (sampling of individual coal types
    according to a specific group of coal types); and

*   960 have proximate analyses, (the chemical analysis of coal as per the
    percentages of ash content, moisture content, volatile matter content, 
    specific heat value and total sulphur content).

The cost of acquiring the data was ZAR$20 million (A$3.3 million) which has been
paid and all data received.

Deputy Managing Director Nonkqubela Mazwai said:

"The database generated by Exxaro is very impressive.  It gives us the
possibility of bringing the Fripp and Tanga farms (two of the sixteen properties
comprising the Baobab project) into production 18 months earlier than we
previously thought.  Subject to permitting from the Department of Minerals and
Energy, it is a real possibility that we could be mining in 2009.  The coal seam
at Fripp and Tanga is 30 meters thick with favourable strike length, recoveries
and qualities.  We expect to announce an initial resource estimate by calendar
year end. "



HOLFONTEIN ACQUISITION

In addition, GVM is pleased to announce that it has finalised agreement to
acquire a 100% interest in various portions of Wildebeesfontein, which is
situated adjacent to Holfontein.  The acquisition is subject to various
conditions precedent, principally regulatory consents.  The area of the new
properties is 552 hectares and enlarges GVM's current holdings by a third.  It
is believed the acquisition will significantly enlarge the seam 5 soft coking
coal resources outlined in an earlier Competent Persons Report (CPR).  Drilling
to define the new resource will be completed before year-end and the Company
believes a CPR upgrading the total resource to the 'measured' category will be
finalised shortly after drilling is finished.

Under the terms of the Agreement, GVM has paid a deposit of US$100,000 and will
complete a drilling program on the properties to define a SAMREC and JORC
compliant Indicated Resource.  That part of the coal seam, having a seam
thickness of greater than 1.4 meters and a Calorific Value greater than 23 MJ/
Kg, will constitute the resource for which GVM will pay US$0.50 per tonne so
defined.

Managing Director Simon Farrell commented:

"The acquisition of Wildebeesfontein gives Holfontein a good increase in scale
and with the dramatic increase in export coal prices, the economics of the 5
seam which is a semi-soft coking coal have improved significantly.  Holfontein
is on track with the Bankable Feasibility Study underway along with the
Environmental Impact Study and social and labour planning which will allow us to
start the process of converting our prospecting rights to a Mining Right with
the Department of Minerals and Energy in South Africa."

Authorised by



SIMON J FARRELL
Managing Director



For more information contact:

Simon Farrell, Managing Director                 GVM                       +61 417 985 383 or  +61 8 9322 6776

Nonkqubela Mazwai, Deputy Managing Director,     GVM                       +27 83 690 9079

Petronella Gorrie                                The Event Shop            +27 82 827 8815

Leesa Peters / Jos Simson                        Conduit PR                +44(0) 20 7429 6606

Olly Cairns / Romil Patel                        Blue Oar Securities Plc   +44(0) 20 7448 4400 or + 61 8 6430 1631


www.gvm.com.au



                      This information is provided by RNS
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