Phosphoric Acid, Phosphates & Fertilizers Experts

GB MINERALS LTD. UPDATE ON THE FARIM PHOSPHATE PROJECT

November 28, 2017 – Vancouver, British Columbia: GB Minerals Ltd. is pleased to provide an update on the advancement of its wholly owned Farim Phosphate Project located in Guinea-Bissau, West Africa.

Key Highlights

Shipping navigational route defined by hydrographic survey confirms suitable water depth for 35,000 dead weight tonne (“DWT”) vessels

Offshore geophysical survey and geotechnical drilling completed in the Geba River for preparation of marine structures

Onshore geotechnical drilling completed for all buildings and structures

Bench scale tests including material from the North Pit further validate the Feasibility Study

Further geochemical, geotechnical and hydrogeological site investigations narrow risks and provide opportunities

Additional pilot plant tests undertaken for 4,000 (wet) kg of material

Significant increases to process recovery with mass recovery at 77% and P2O5 recovery at 80%

Finalization of specification sheets for customers

Additional samples already with potential off-takers

Over 2,000 kg of final product available for new customers’ samples

Low cadmium levels in final product that can meet regulatory changes among some target markets

Resettlement Action Plan completed along with asset survey, conceptual town plan and replacement housing

Testing of local construction materials

Pre-screening of local contractors

Country and regional logistics study for most efficient transportation of equipment to site

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