Year: 2023

“Our underground rehabilitation has now accessed 600 metres of an estimated 1.2 kilometres of workings,” stated Darrell Rader, President and CEO. “Having full access to the workings will enable us to evaluate areas of known high-grade silver mineralization in addition to locating additional unmined areas of mineralization.”

“We believe there is excellent potential to extend mineralization beyond the areas that were historically mined at Union and Union Norte. Controlling the historical mine areas and local infrastructure puts us in a position to move ahead more aggressively with other discovery targets within the surrounding areas as well.”

GR Silver Mining Chairman and CEO, Eric Zaunscherb comments, “The upcoming resource estimation is expected to define a significant resource dominated by silver mineralization over broad widths, relatively close to surface or existing underground infrastructure. We consider these attributes to contribute to GR Silver Mining’s competitive advantages, along with project scale and prospectivity, and the management and board skills to take the project to the next level. We anticipate a potential market re-rating related to the resource estimation update, based on scale and quality of resources.”

“Ongoing drilling at Copala continues to demonstrate exceptional continuity of high-grade mineralization,” commented Michael Konnert, President & CEO. “The recently completed infill-drilling program serves to incrementally de-risk the local resource through tighter spaced drilling and provides representative sample material for metallurgical testing.”

“The results of the Q4 2022 drilling are very promising and have confirmed the ongoing 2023 drill program is on the right track to potentially deliver higher grade resources into the near- and mid-term mine plan,” stated Allen Palmier, President and CEO for the Corporation.

“Further geological interpretation and drilling of five advanced generative areas, highlighted today, along with our extensive remote-sensing and field mapping across Los Reyes, are expected to define new mineralized trends conducive to additional gold-silver deposit discoveries.”