GFM Formalizes Acquisition of La Casita Property

GFM Resources Limited (NEX:GFM.H) ("the Company") is pleased to announce that it
has entered into a formal binding agreement with Grupo Ferrominero, S.A. de C.V.
("Grupo") and with Compania Minera Autlan, S.A.B. de C.V. ("Autlan") for the
acquisition of the "La Casita" mineral property, as previously announced on
January 21, 2008.


Grupo is an affiliate of the Company by virtue of its controlling interest in
Autlan, the Company's majority shareholder.


The La Casita mineral property consists of three mineral claims and two mineral
claim applications currently owned by Grupo. Under the terms of the agreement,
the three mineral claims will be transferred immediately to the Company's
Mexican wholly-owned subsidiary. The claim titles corresponding to the two
mineral claim applications will be transferred to the Company's Mexican
subsidiary upon issuance by the Mexican Government mining authorities.


In consideration for this transfer the Company will issue Grupo 150,000 common
shares at a deemed price of $0.25 per share (the "Consideration") upon
completion of this transfer. The acquisition of this property by the Company was
previously approved the TSX Venture Exchange. In addition to the Consideration,
the Company will pay to Grupo 10% of the cash option payments actually paid to
the Company by Geologix Explorations Inc. ("Geologix") pursuant to a memorandum
of agreement entered into in January, 2008, or any definitive agreement which
replaces such memorandum of agreement, made between the Company and Geologix for
the option to acquire up to a 60% interest in the La Casita property. The
Company expects to enter into such definitive option agreement with Geologix
before the end of the second quarter of 2008.


About GFM Resources Limited

GFM Resources Limited is a Canadian public company engaged in the business of
mineral exploration in Mexico; its shares are listed on the NEX Board of the TSX
Venture Exchange under the symbol GFM.H. The Company's majority shareholder is
Compania Minera Autlan S.A.B. de C.V. ("Autlan"), a company listed on the Mexico
City stock exchange and active in manganese and ferroalloy operations in Mexico,
in turn controlled by Grupo Ferrominero, S.A. de C.V. ("Grupo"), a private
Mexican holding company that also controls other companies in domains such as
electronics and investment banking. For more information please visit
www.gfm-resources.com.