GR Silver Mining

[LongDonSilver]

"GR Silver Mining Ltd. info@grsilvermining.com
999 West Hastings St., 9th Floor +1-604-558-6248
Vancouver, BC, V6C 2W2
December 20, 2021
GR Silver Mining Completes Sale of Non-Core Concessions
Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV|GRSL,
OTCQB|GRSLF, FRANKFURT|GPE) – announces the sale of two non-core concessions, El
Salto and El Salto Sur (the “Concessions”), which were acquired from Mako Mining Corp. on
March 31, 2021, to Grupo Minero Venturex S.A. DE C.V. (“Venturex”), a private Mexican
company.
The Concessions were sold to Venturex, in an ‘arm’s length’ transaction, with the following
terms and conditions:
• The Company received US$1,000;
• The Company was granted a 0.5% net smelter royalty (“NSR”);
• Venturex is responsible for complying with all obligations arising from ownership of the
Concessions in accordance with Mining Laws, Regulations, and the Federal Law of
Rights in Mexico; and
• Venturex is responsible for payment of all outstanding concession fees, fines,
surcharges and updates derived from the non-payment of mining fees of the
Concessions until the date on which the payments are made.
GR Silver Mining President and CEO, Marcio Fonseca, commented, “The sale of these two
Concessions is part of the Company’s strategy to divest non-core concessions acquired in
conjunction with the acquisition of the past producer La Trinidad mine. By selling these
Concessions, the Company will be eliminating the ongoing concession fee obligations and
current liability once approval of the sale is granted.”
El Salto and El Salto Sur represent extensive (combined area 569.1 sq. km) early-stage
exploration concessions to the southeast of the Plomosas Project, on the Sinaloa-Nayarit
border (Figure 1).

GR Silver Mining Ltd. info@grsilvermining.com
999 West Hastings St., 9th Floor +1-604-558-6248
Vancouver, BC, V6C 2W"

[LongDonSilver]

"GR Silver Mining Confirms Wide, High-Grade Silver Mineralization Below The San Marcial Resource, 18.5 m @ 773 g/t Ag, Including 1,792 g/t Ag Over 5.6 m



Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV | GRSL, OTCQB | GRSLF, FRANKFURT | GPE) – is pleased to announce wide, high-grade silver (Ag) results from diamond core drilling from the recently expanded underground tunnel in the San Marcial Area, at the Plomosas Project, Sinaloa, Mexico. These assay results are from the initial three holes of an eight-hole program and confirm extensions of high-grade Ag mineralization along strike, as well as up to 170 m down dip, below the San Marcial NI 43-101 mineral resource. The successful results extend the mineralization from the initial 250 m to approximately 420 m down dip from surface. These results also suggest that the compilation of modern and historical data, combined with advanced geological modelling, has been successful in targeting higher grade mineralization on the project.

The Company has successfully completed the first ever underground drill program at San Marcial, confirming extensions of the high-grade Ag mineralization at attractive widths and grades to support future resource expansion.

All eight holes in the resource expansion program have now been successfully completed with assays pending for five holes. "

[LongDonSilver]

"Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV | GRSL, OTCQB | GRSLF, FRA | GPE) – is pleased to announce the appointment of Larry Taddei to the Company’s Board of Directors and its Audit Committee.

Larry Taddei brings sixteen years of experience as a senior executive in the mineral resource industry, culminating in twelve years as the Chief Financial Officer of MAG Silver Corp. where he was instrumental in the growth of MAG and in forming good working relationships with Mexican senior silver producer Fresnillo plc at the world-class Juanicipio silver project. His relationships extend to the investment community, playing a lead role in defining capital structure and balance sheet management. He was responsible for all aspects of MAG’s financial operations, including treasury, taxation, IT systems, insurance, and risk management. He also played a key role in the company’s governance guidelines, policies, and procedures, as well as expanding ESG disclosures and policies.

"We are delighted that Larry has agreed to join GR Silver as an independent director," stated Eric Zaunscherb, CEO and Chair of the Board. "Larry's extensive experience as CFO of MAG Silver is directly applicable as GR Silver advances and de-risks the Plomosas Silver Project in Sinaloa, Mexico. He adds significant depth in business leadership and financial acumen that wonderfully complements the legal and capital markets backgrounds of our existing board members.”

[LongDonSilver]

"GR Silver Expands SE Area Discovery Zone With New Bonanza-grade Silver Interval Outside Resource Area
11.1 m at 584 g/t Ag including 0.2 m at 14,365 g/t Ag

Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV | GRSL, OTCQB | GRSLF, FRA | GPE) – is pleased to announce the first two step-out drilling results outside of the recently published NI 43-101 Mineral Resource Estimate boundary in the San Marcial Area at the Plomosas Project in Sinaloa, Mexico.

The initial drilling program is targeting the extension of the SE Area discovery silver mineralization style, 250 m along strike to the southeast, targeting identification of the commonly mineralized contact zone at shallow depth. The first two holes – SMS23-01 and SMS23-02 - represent a step out of 50 m to the southeast. The positive results, combined with the geological knowledge gathered by the Company in the 2022 drilling and resource estimation studies favor GR Silver’s continuation of the drilling program in this area (Figure 1).

In 2022 and Q1/2023, the Company carried out surface exploration along the southeastern extension of the target contact zone, which included surface mapping, geochemical sampling, and the integration of all geophysical data. This detailed study has generated surface evidence of the presence of wide silver mineralized zones at shallow depth, with associated high-grade silver structures, with results such as those reported from drill hole SMS23-02 (Table 1).

The geological setting continues to resemble the target contact zone between local upper volcanics (andesitic “block and ash” unit) and local lower volcanics (rhyolitic to dacitic volcano-sedimentary unit), which characterized the SE Area discovery zone (see News Release dated August 8, 2022). The presence of narrow high-grade silver mineralized hydrothermal breccias, hosted inside a wider mineralized envelope, encourages the Company on the potential for resource expansion at the San Marcial Area along the target contact zone (Figure 2).

Chair and CEO Eric Zaunscherb commented, “The conversion of surface silver geochemical anomalies, related to the mapped target contact zone, into confirmed bonanza-grade drill intersections is a testament to the efficacy of the Company’s geological model. Our confidence in the prospectivity of the southeast extension of the target contact zone grows, as does our excitement at the potential of new drill targets being generated to the south through detailed mapping, geochemical and channel sampling. Some of these new targets may relate to intrusive bodies with coincident geophysical anomalies. Assuming the market shares our confidence and excitement, we can proceed with the 12,500-metre drill program that has been recommended (see News Release dated May 8, 2023), pending board approval.”