Important Information about the Reverse Split ProposalThis communication may be deemed to be solicitation material in connection with the proposal to be submitted to the Company's shareholders at its special meeting seeking approval to effect a reverse split. In connection with the Reverse Stock Split Proposal, the Company has filed a preliminary proxy statement on Schedule 14A with the Securities and Exchange Commission (the "SEC"). Shareholders of the Company are urged to read the preliminary proxy statement and all other relevant documents filed with the SEC when they become available, including the Company's definitive proxy statement, because they will contain important information about the Reverse Stock Split Proposal and the Company. A definitive proxy statement will be sent to holders of the Company's common stock as of the record date in connection with seeking their authorization of the Reverse Stock Split Proposal. Investors and security holders will be able to obtain the documents (when available) free of charge at the SEC's website, www.sec.gov . In addition, the Company's stockholders may obtain free copies of the documents filed with the SEC when available from the Company at the Company's website, www.gmxresources.com . You also may read and copy any reports, statements and other information filed by the Company with the SEC at the SEC public reference room at 100 F Street, N.E. Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 or visit the SEC's website for further information on its public reference room. The Company and its Board of Directors and executive officers may be deemed to be participants in the solicitation of proxies from the holders of the Company's common stock in respect of the Reverse Stock Split Proposal. Information about the directors and executive officers of the Company is set forth in the Company's Annual Report on Form 10-K, which was filed with the SEC on March 9, 2012. Investors may obtain additional information regarding the interest of the Company and its directors and executive officers in the Reverse Stock Split Proposal by reading the preliminary proxy statement and, when it becomes available, the definitive proxy statement relating to the special meeting.