GPM Metals Inc. announces signing of Earn-in / Joint Venture Agreement with Rio Tinto Exploration Pty Limited for the Walker

 GPM Metals Inc. announces signing of Earn-in / Joint Venture Agreement with  Rio Tinto Exploration Pty Limited for the Walker Gossan lead-zinc-silver  project, Northern Territory, Australia  TORONTO, Jan. 27, 2014 /CNW/ - GPM Metals Inc. (TSXV:GPM) ("GPM") through its  wholly owned subsidiary DPG Resources Australia Pty Limited ("DPG") announces  that it has entered into, an Earn-In/Joint Venture Agreement with Rio Tinto  Exploration Pty Ltd, a wholly owned subsidiary of Rio Tinto Limited ("Rio  Tinto") (NYSE:RIO); covering base metal exploration and development rights, in  relation to certain granted exploration tenements and tenement applications in  McArthur Basin Mining District, Northern Territory, Australia (The "Walker  Gossan project").  Rio Tinto and GPM have entered into a definitive Two Stage Earn-In / Joint  Venture Agreement granting GPM an initial 51% interest under certain  conditions that include;  Stage One        1.   Payment of A$1,000,000.00 on signing     2.   Minimum expenditure of A$2,000,000 within 3 years of effective          date     3.   Combined expenditures of A$20,000,000.00 over a 10 year period     4.   Milestone payments within the combined expenditures as follows:            (i)    A$100,000.00 upon the grant of licences to all of the                   properties;            (ii)   A$1,000,000.00 upon the completion of the first drill                   hole on the Walker Gossan            (iii)  A$4,000,000.00 upon the completion of a JORC Code                   Compliant resource study that shows an                   indicated status for minimum 20 million tons of greater                   than 8% combined lead and zinc, or lead,                   zinc and silver, within the licenced area or a Decision                   to Mine being made.  Stage Two  GPM may increase its interest to 75% by completing a Feasibility Study within  3 years of completing Stage One.  Rio Tinto may elect to contribute pursuant to its participating share, not  contribute and be diluted or convert its interest into a Net Smelter Return  (2.5%) royalty.  There are rights of first refusal on purchase and sale of interest for both  parties at fair market value.  GPM will be responsible for all negotiations with the Northern Land Council  for consent to issue the exploration licence applications and work programs to  be conducted by GPM under its sole rights or as operator.  DESCRIPTION OF PROPERTY  The 166,000 hectare Walker Gossan project is located within the Walker Trough,  a package of Middle Proterozoic carbonate sediments, situated in Arnhem Land  in the Northern Territory of Australia.  Geographical maps and geological setting illustrations are available on the  company's web site. (www.gpmmetals.ca/projects/australia).  The primary area of interest is the Walker Gossan. Gossanous outcrops with  highly anomalous lead values were discovered by CRA - Conzinc RioTinto of  Australia (predecessor to Rio Tinto Limited) in 1970 and a tenement  application was made to the Government of the Northern Territory in 1972. An  agreement under the Aboriginal Land Rights Act is required prior to grant of  the tenement. To date the area has been held under tenement application and no  exploration has been undertaken within the 40 years which have followed the  discovery of the gossan.  The Walker Trough is part of an extensive Middle Proterozoic carbonate  sequence which occurs from South of Mount Isa through to Darwin over an area  of approximately 600,000 square kilometres which hosts one of the great  metallogenic belts of the world.  The region includes a number of major silver, lead, zinc and copper deposits.  These include the Mount Isa, George Fisher and MacArthur River mines owned by  Xstrata; the Cannington Silver Mine, regarded as the largest silver mine in  the world, owned by BHP; the Century zinc deposit, one of the largest zinc  mines in the world and owned by MMG Mining of China; and several other  deposits.  The Walker Trough region was identified by the Northern Territory Geological  Survey team as being a direct analogy of the Pb-Zn endowed Batten Fault trough  which contains the MacArthur River Zinc mine. Further, it was considered the  "hottest untested exploration play in The Northern Territory" in a 2004  publication of the Northern Territory Geological Survey.  "http://www.nt.gov.au/d/Minerals_Energy/Geoscience/Content/File/Docs/CORE/NTExp lnOpportunities.pdf"  Peter Mullens, President, DPG Resources (Australian subsidiary of GPM Metals),  states "We are excited to have signed this agreement with Rio Tinto and to  partner with them in this project area. The Walker Gossan project has the  potential to be a company maker".  The Qualified Person ("Q.P.") for GPM is Mr. Peter Mullens P.Geo, who is a  member of the Australian Institute of Mining and Metallurgy. Mr. Mullens has  reviewed and approved the contents of this release.  ABOUT GPM METALS  GPM METALS is a Canadian based mineral exploration and development Company,  with a current portfolio of 5 exploration properties in 3 countries.  The Company board of directors, management and exploration personnel have  demonstrable skills in all aspects of mineral development; from grass roots  exploration to capital markets and mine builds globally.  The Company treasury is well funded going forward (approximately $4.6 million  as of 20 January 2014); and has a strong shareholder base. President and CEO  J. Patrick Sheridan currently owns approximately 17% of issued and outstanding  shares.  Forward Looking Statements  All statements, other than statements of historical fact, included in this  release are forward-looking statements that involve various risks and  uncertainties. There can be no assurance that such statements will prove to be  accurate and actual results and future events could differ materially from  those anticipated in such statements. Important factors that could cause  actual results to differ materially from the Company's expectations are  exploration risks detailed herein and from time to time in the filings made by  the Company with securities regulators.  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts  responsibility for the adequacy or accuracy of this release.    SOURCE  GPM Metals Inc.  CANADA J. Patrick Sheridan President/CEO   301-141 Adelaide Street West Toronto, ON. Canada M5H 3L5 Phone 416.628.5904  info@gpmmetals.ca  AUSTRALIA Peter Mullens P.Geo  18 Teneriffe Drive, Teneriffe, QLD 4005, Australia Phone 61.7.3254.2273  info@gpmmetals.ca  www.gpmmetals.ca  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/January2014/27/c5191.html  CO: GPM Metals Inc. ST: Ontario NI: MNG VNT