Goldplay Exploration

GR Silver Mining Ltd. (TSXV: GRSL), (FRANKFURT: GPE), (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report drill results at its 100%-owned Plomosas Silver Project (“Plomosas Project”), Plomosas Mine Area, in Sinaloa, Mexico.

These drill results highlight high-grade silver mineralized zones in a 50 m step out from a previously released section of drill hole results at the Plomosas Mine Area (Figure 1) (see News Release dated May 13, 2020). They confirm continuity of the silver mineralized system for at least 500 m along strike. They also extend the continuity of both mineralization styles, Ag-Au low sulphidation epithermal veins and polymetallic high-grade Ag-Pb-Zn hydrothermal breccias, up to 700 m down dip below the surface (Figure 2).

The drill results confirm the prospectivity of near surface, multiple veins and hydrothermal breccia systems close to existing underground development, which will facilitate access for follow up in our upcoming drill program. Significantly, these drill holes also indicate the discovery of multiple subparallel mineralized systems below the current footwall of previously mined areas.

A large epithermal system is evident based on the most recently released set of drill results. The Company has initiated a shallow (100-150 m depth) surface drilling program aiming to confirm the mineralization footprint and the new high-grade vein discoveries along strike and down dip.

GR Silver Mining President and CEO, Marcio Fonseca, commented, “The mineralized veins and hydrothermal breccias at the Plomosas Mine Area were originally interpreted to be confined only along the major Plomosas Fault, however our recent validation and integration of all drill results, underground structural mapping and sampling, supports the occurrence of additional mineralized veins outside of that major structure.

These results illustrate the potential to expand Ag-Au mineralization along strike and down-dip, creating a much larger mineralized footprint for future resource estimation. Some of our recently released results are particularly impressive, not only for the thickness of the mineralization but also average grade, reporting intervals of 11.0 m at 1,235 gpt Ag and 5.4 m at 1,096 gpt Ag including 2.0 m @ 2,484 gpt Ag. The recent progress of the surface and underground exploration program suggests that these high-grade veins extend and are open down plunge. With further success, we anticipate that the high-grade multi-vein mineralization in the Plomosas Mine Area will add additional mineralized zones for future resource delineation”.

Table 1 summarizes the most significant drill assay results for this group of holes released for the Plomosas Mine Area.

Table 1: Summary Drill Hole Results – News Release July 20, 2020 (Plomosas Mine Area)

The drill holes in this news release were generated by a drill campaign completed by First Majestic Silver Corp. (“First Majestic”) in 2017 (PLI17-08), and historical drill holes completed by Grupo Mexico. Both drill sets were not previously released. They are part of an extensive surface and underground diamond core drilling database, which GR Silver Mining continues to consolidate and validate. The Company recently announced a surface drilling program (see News Release dated July 15, 2020) which aims to expand the mineralization footprint along strike, which will lead to the first 3D geological model and resource estimation at the Plomosas Mine Area.

Table 2 lists the drill hole intervals previously not sampled (“NS”) for this group of released holes. The Company is investigating these intervals for evidence of mineralization in the core that warrants additional sampling and assaying. Additionally, Table 3 provides collar coordinates for the drill holes presented in this news release.

Table 2: Plomosas Mine Area – Drill Hole Intervals Not Sampled (Intervals greater than 20m)

Table 3: Drill Hole Locations – News Release July 20, 2020 (Plomosas Mine Area)

The Plomosas Mine Area drill results continue to demonstrate the continuity of higher-grade precious and base metals mineralization along strike, expanding the footprint of the low sulphidation epithermal system for approximately 500 m. The high grades encountered, Ag-Pb-Zn and Ag, occur in an area with multiple deep-rooted fault systems and are confirming the presence of unmined near surface high-grade mineralized zones for upcoming drilling follow-up.

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo. He has approved the disclosure herein.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The recent drill holes completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de México, S.A. de C.V. facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au >10ppm and Ag >300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry. GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols and at this stage is considering the information historic for news release purposes.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the San Marcial Silver Project in the southeast of Sinaloa State, Mexico. The Plomosas Project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession, 16 new exploration targets from which 11 have high priority for future exploration programs.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30m of previous capital investments. The previous owners invested approximately US$18 million in exploration.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San Juan, La Colorada, Yecora, San Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver Mining is currently drilling at the San Marcial Project, which contains 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

Related Links

http://www.grsilvermining.com/

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) is pleased to announce that it has started a surface drilling program at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico. The Company has mobilized three drill rigs, with one rig already on site.

GR Silver Mining President and CEO, Marcio Fonseca, commented, “We are very pleased with the progress of our exploration program at both the Plomosas and San Marcial Projects. At Plomosas we have not only 6 areas already drilled where we are initiating surface drilling to expand mineralized zones along strike but also 11 very promising priority exploration targets with evidence of veining. The exploration programs to date have discovered multiple veins, providing the Company with new drilling targets at both projects. The existing infrastructure and permits at Plomosas will allow the Company to accelerate not only surface, but also future underground drilling. The advance of the underground development at San Marcial represents a completion of a major milestone, allowing underground drill access to deeper high-grade hydrothermal breccia zones for future resource expansion.”

The initial 4,500 m surface core drilling program is expected to continue through 2020 and will have a dual focus: shallow drilling (up to 150 m below surface) to expand the known mineralized zones along strike at the Plomosas Mine and San Juan-La Colorada Areas, and follow-up drilling on several new high-grade Au-Ag low sulphidation epithermal vein occurrences at the Yecora and El Saltito (Figure 1).

The initial drill sites on the Plomosas Project are planned in areas where historic drilling was completed by previous owners and recent investigations by GR Silver Mining have delineated additional multiple epithermal veins along the strike and at shallow depth.

In addition to drill testing of the areas with historic drill holes at the Plomosas Project, the Company will also commence initial reconnaissance and surface exploration on 11 priority targets identified as displaying potential for new discoveries. These targets (Figure 2), which show evidence of vein systems but attracted little exploration follow-up by previous owners, will be added to our drilling program later in the year. More information on these new vein discoveries will be made available in future news releases.

The surface drilling program on the Plomosas Project is designed to demonstrate the potential for the extension of known high-grade Ag-Au veins recently released by the Company in both the Plomosas Mine Area and the San Juan-La Colorada Area. The program aims to confirm the potential of the project to host multiple low sulphidation epithermal mineralized systems, that combined, could define zones for future resource estimation.

PLOMOSAS MINE AREA

Drilling at the Plomosas Mine Area will test shallow mineralization along strike from a step out section, where drill results returned intervals that included 11.0 m of 1,235 g/t Ag (see News Release dated June 22, 2020), aiming to expand the known mineralized system up to 500 m (Figure 3).

SAN JUAN AREA

The San Juan discovery, where drill results returned assays including 3.5 m at 1,419 g/t Ag and 15.5 g/t Au (see News Release dated April 13, 2020), represents a set of subvertical multiple Ag-Au rich veins that has been mapped on surface over a strike length of 500 m (Figure 4), and remains largely undrilled. The Company plans to carry out shallow drilling along the mineralized structure in order to confirm the modelled geometry and Ag-Au grades.

At the Yecora and El Saltito, recent surface exploration, including mapping and a review of existing old workings, has confirmed the presence of a large epithermal system and multiple veins and veinlets at, or close to, the surface. An initial 1,000 m program of scout drilling to a depth of 150 m is planned for these two areas to allow the Company to develop a 3D geological model integrating the various mineralized zones.

CORPORATE UPDATE

Following completion of the acquisition of the Plomosas Project, the Company has completed a detailed data review and compilation of all available exploration data related to the geological, geochemical and geophysical exploration programs completed by previous owners. This work is being integrated in a GIS platform and external consultants have been engaged to work together with management and exploration staff to prioritize the 11 exploration targets delineated outside of the drilled areas, with evidence of low sulphidation epithermal veining.

Field work has advanced with definition of multiple veins and a large epithermal system in the San Juan-La Colorada Area, where to date the Company has expanded the footprint of the low sulphidation epithermal system for approximately 1km (see News Release dated July 7, 2020). Underground mapping and sampling are progressing at the Plomosas Mine Area, where channel sampling is supporting the potential existence of Ag-Au mineralized systems with potential to delineate prospective zones for drilling and resource estimation. More information on the underground channel sampling program will be made available in future news releases.

The Company has engaged independent mining consultants to review all drawings related to the historic mining voids at the Plomosas Mine Area, aiming to integrate them into a new survey and create a 3D underground mine model. This model will be used, together with existing information related to historic run-of-mine zones un-mined by Grupo Mexico, to identify potential targets for bulk sampling and to source large tonnages of mineralized material for metallurgical test work.

On the San Marcial Project, the Company has extended the rock (Lithogeochemical) sampling to over 750 ha, collecting more than 13,000 samples on a 25 m x 25 m grid, representing a valuable geochemical database for future shallow drilling follow up. This database will assist with interpretation of new drill targets, mapping of lithologies, alteration signatures and structures hosting silver and gold mineralization in the San Marcial Project. The Company has completed over 220 m of tunnel widening and underground development at San Marcial (Figure 5), and anticipates the start of underground drilling in Q3/2020.

The Company continues to advance the due diligence review on areas under exclusivity for acquisition immediately adjacent to both the Plomosas and San Marcial Projects, representing additional potential acquisitions in the Rosario Mining District.

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas and San Marcial Projects was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo. He has approved the disclosure herein.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The recent drill holes completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de México, S.A. de C.V. facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au >10ppm and Ag >300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry. GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols and at this stage is considering the information historic for news release purpose.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the San Marcial Silver Project in the southeast of Sinaloa State, Mexico. The Plomosas Project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession, 16 new exploration targets from which 11 have high priority for future exploration programs.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30m of previous capital investments. The previous owners invested approximately US$18 million in exploration.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San Juan, La Colorada, Yecora, San Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver Mining is currently drilling at the San Marcial Project, which includes a resource estimated to contain 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

The Plomosas and San Marcial Projects collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

Related Links

http://www.grsilvermining.com/

GR Silver Mining Ltd. (TSXV: GRSL), (FRANKFURT: GPE), (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to announce drill results at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico. These results are located in the Plomosas Mine Area, one of six priority areas with a combination of recent (2016 to 2018) and historical drill data being released by the Company.

These drill hole results show high-grade silver and gold mineralized zones outside of the previously mined polymetallic (Pb-Zn-Ag-Au) mineralization in the Plomosas Mine Area. The Au-Ag enriched veins and breccias occur in vertical and shallow-dipping fault zones on the footwall and hanging wall of the existing polymetallic mineralized zone, revealing potential extensions for a future resource estimation. The results also confirm the continuity of the polymetallic mineralized zone down dip and along strike outside the previously mined areas. The drill section discussed in this news release is a step-out section, 400 m north (Figure 1) of drill holes reported in the previous news release (see News Release dated May 13, 2020).

GR Silver Mining President and CEO, Marcio Fonseca, commented, “We continue to systematically review the extensive un-released historical and recent drill hole database at the Plomosas Silver Project. The review confirms the presence of high-grade Au-Ag zones, which were not previously explored and evaluated by previous owners, nor integrated into a resource estimation. Most of the new mineralized veins are accessible through existing underground development, which facilitates planning of additional underground drilling and provides opportunities for new discoveries. The company has reviewed 51 drill holes at the Plomosas Mine Area to date and 256 drill holes remain to be validated. The validated drill holes are already integrated into a 3D database allowing interpretation of a wide footprint of high-grade multiple veins and hydrothermal breccias. 

Our ongoing investigations along the 8,000 m of underground tunnels at the Plomosas Mine Area, including geological/structural mapping and sampling, continue to reveal new mineralized zones. These new zones demonstrate that mineralization is not only hosted within a single high-grade structure but within multiple cross-cutting shallow and vertical structures. The Company has also encountered evidence of multiple mineralization styles (massive sulphide Pb-Zn lenses, brecciated and stockwork polymetallic mineralized systems and strong gold-silver rich quartz veined mineralized zones) during recent underground investigations, which are currently being integrated into the Plomosas Mine Area 3D model.“

Table 1 summarizes the most significant drill assay results for this third group of holes released for the Plomosas Mine Area.

Table 1: Summary Drill Hole Results – News Release June 22, 2020 (Plomosas Mine Area)

The existing drill holes for the Plomosas Project were generated by drill campaigns completed by First Majestic Silver Corp. (“First Majestic”) between 2016-2018 and Grupo Mexico between 1982-2000. They both form an extensive surface and underground core drilling database which GR Silver Mining is consolidating and validating.

The primary objective of Grupo Mexico was the discovery of Pb and Zn mineralization as potential feed for their historical flotation plant operations nearby. First Majestic drilled the Plomosas Mine Area targeting new mineralized zones down dip and along strike from the surface and underground sites. GR Silver’s QA/QC protocol dictates that wherever assay intervals are identified as missing within the drill hole database, the relevant drill holes will be re-examined, sampled, and assayed using the remaining core to complete the sequence of results.

Table 2 summarizes the historical drill hole intervals previously not sampled (“NS”) for this third group of holes released for the Plomosas Mine Area.

Table 2: Plomosas Mine Area Drill Holes – Historical Drill Hole Intervals Not Sampled (Intervals greater than 20m)

The company is currently re-logging and sampling potentially mineralized zones in the existing (non-sampled) core available on site, aiming to integrate the results into the current drilling database.

The preliminary review and integration of all data has indicated the presence of two significant mineralized structures.

The first contains higher lead, zinc and silver concentrations with strike N10E-NS and dip 40⁰, mostly sub-parallel to the main shallow Plomosas Fault (Figure 2). Massive sulphide silver-rich lenses (sphalerite, galena and minor chalcopyrite) are common occurrences in this mineralized structure (Link to Photos). The mineralization style is hosted preferentially in pyroclastic flows, volcanic breccias and fractured rocks, and it preferentially favours andesite breccias. It appears to form a series of bodies 50 – 80 m long by 40 – 60 m wide and varied thickness, due to pinch-swell geometry visible in the underground workings.

The second type of mineralized structures show banded and drusy quartz, strong silicification, networks of quartz veinlets and quartz breccias, containing significant gold and silver values and low lead and zinc content. They are represented by two systems with a general orientation N40E and N40W and variable dip angles, from 50⁰ to 70⁰.

The Company continues to validate all core assay results in the extensive Plomosas drill hole database, with the objective to fully integrate them into the 3D Model. Other ongoing site activities include underground mapping and sampling of the Plomosas Mine Area, drill core sampling and assaying, and initial bulk sampling of selected underground areas for future metallurgical testwork.

Additionally, the Company is advancing discussions with drill contractors to initiate a drilling program on the existing zones and drill targets in the near future.

Table 3: Drill Hole Locations – Plomosas Mine Area (News Release 22/6/2020)

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo. He has approved the disclosure herein.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The recent drill holes completed by First Majestic from 2016 to 2018, followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed by an independent laboratory at SGS de México, S.A. de C.V. facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au >10ppm and Ag >300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry.

GR Silver Mining has reviewed information related to the historic Grupo Mexico drill holes and believes the results are of sufficient quality and suitable for disclosure. GR Silver Mining has not verified the results. The following drill holes were drilled by Grupo Mexico, 218, 233, 236, 242, 246, 250, 253, 258, 259, 265, 269, 270, 274 and 218-A.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the San Marcial Silver Project in the southeast of Sinaloa State, Mexico. The Plomosas Project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession, and the delineation of 16 exploration/drilling targets.

The 100%-owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30m of previous capital investments. The previous owners invested approximately US$18 million in exploration.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San Juan, La Colorada, Yecora, San Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver Mining is currently drilling at the San Marcial Project, which contains 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 18, 2019 and amended on June 10, 2020.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11 Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

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SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com,

Related Links

http://www.grsilvermining.com/

GR Silver Mining Ltd. (TSXV: GRSL, FRANKFURT: GPE, OTCQB: GLYXF) (“GR Silver Mining” or the “Company”) – is pleased to announce that ongoing exploration continues to confirm substantial gold and silver potential at the San Marcial Project (“San Marcial”) in Sinaloa, Mexico.

Exploration activities at San Marcial are aimed at expanding the Company’s existing NI 43-101 Mineral Resource of 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred), as announced in February 2019 (News Release February 7, 2019). The resource is open at depth. In addition, the Company has continued to follow up on the eight drill targets identified by the Company over the past 12-18 months using systematic exploration, culminating in a surface drill program.

Recent San Marcial exploration highlights include:

• Purchase by the Company of three new drill rigs:
  
  • 1 x NW150 to drill up to 150 m depth
  • 2 x hand held portable rigs to drill up to 20 m depth
• Commencement of surface drill program testing the main targets using the NW150 rig
• Widening of 170 m underground tunnel complete; 100 m tunnel extension is underway
• 2,000 m underground resource expansion drill program upon completion of tunnel
• Litho-geochemical sampling program identified 2 km arcuate trend to the W and SW of the San Marcial resource, using Pb as a pathfinder
• Positive initial gold results from channel sampling at two new targets including 0.2 m at 28.94 g/t Au and 143 g/t Ag and 0.2 m at 6.81 g/t Au
• Shallow drill testing of surface geochemical anomalies and structural targets with the two new portable rigs

GR Silver Mining President and CEO, Marcio Fonseca, commented, “During the current global COVID-19 crisis, the health and safety of our team is top priority. The Company has implemented measures to adhere to government-imposed restrictions. Meanwhile, our project team from the local area has been able to progress some aspects of our exploration program using strict safety protocols. The recent purchase of our own surface drill rig allows us flexibility to advance the drill program at San Marcial with our own professionally trained local crew, in isolation in the field camp.

The Company is focused on increasing the resource inventory at San Marcial. Extension of the underground tunnel for drill access is advanced, which will allow the Company to drill test the down-dip extensions to the NI 43-101 resource later this year. High-grade silver results from previous drilling demonstrate that the resource is open at depth, with potential for expansion. The Company’s newly purchased drill rig has now commenced a drilling program on our other eight gold-silver targets at San Marcial. The first target being tested is Chachalaca, where initial channel sampling encountered high-grade gold veins up to 0.2 m at 28.94 g/t Au and 143 g/t Ag. 

Our personnel continue to extend the geochemical database covering the remainder of the 1,250 ha concession with a close-spaced litho-geochemical sampling program in search of new discoveries. A ring-type feature has been identified using lead geochemistry, extending at least 2 km from the resource area and is known as the Faisanes-Mariposa Trend. Follow up of geochemical anomalies – using trenching, channel-sampling and shallow drilling – has identified various zones of high-grade gold and silver. These anomalies will be assessed for potential follow up drilling.”

1. SAN MARCIAL UNDERGROUND DRILL PROGRAM
As outlined in last year’s financing announcement (News Release November 7, 2019), the Company has an underground drilling program (up to 2,000 m) planned for 2020 to test the depth extensions of the San Marcial NI 43-101 silver resource. The San Marcial resource has no previous underground mining history. However, an old tunnel was driven 170 m to intersect the breccia-hosted high-grade mineralization. Work has been completed by GR Silver Mining to widen the existing tunnel to allow drill machinery to enter (Figure 1). Mapping and channel sampling of the high-grade breccia, where it cuts this new exposure, is currently underway.

Local experienced mining contractors are currently extending that tunnel a further 100 m to reach a point where a series of drill holes will test the deeper extensions of the resource. The resource is relatively shallow with the deepest high-grade silver intersections from drilling at approximately 220 m below surface. Results of the 2020 drill program will be incorporated into the San Marcial 3D resource model to assess the potential for underground development of a high-grade resource below the potentially open-pittable upper levels of the deposit.

On completion of the tunnel extension, the commencement of underground drilling will be subject to availability of our preferred third-party drill company, once COVID-19 restrictions are relaxed.

2. SURFACE DRILLING TARGETS
Since releasing the San Marcial NI 43-101 resource in February 2019, the Company has undertaken a systematic exploration program to investigate the remainder of the concession. The program initially involved soil sampling, a 25 m x 25 m litho-geochemical sampling program, geological mapping and channel sampling. The accumulated data generated at least eight drill-ready targets for both gold and silver (Figure 2).

Over the past two months, the Company has acquired three new drill rigs:

• 2 x hand held portable drill rigs with the capacity to drill test new anomalies and veins down to 20 m depth
• 1 x compact man portable NW150 diamond drill rig with capacity to test our more advanced drill targets to a maximum of 150 m depth

As part of the Company’s proposed 2020 surface drilling program, the NW150 diamond drill rig (Figure 3a) was recently purchased to provide a flexible and cost-effective drilling alternative to test targets generated at San Marcial. The NW150 commenced drilling at the Chachalaca target in the northwest of the San Marcial concession. Chachalaca is a gold target with shallow underground workings exposing flat-lying quartz veins, zones of stockwork and breccias (Figure 3b) over an area of 500 m x 150 m. Best channel sampling results to date include 0.2 m at 28.94 g/t Au and 143 g/t Ag and 2.0 m at 3.48 g/t Au and 164 g/t Ag (Table 1).

Table 1:   Chachalaca Target – Best GR Silver Channel Sampling Results

To date, three shallow NQ-sized diamond holes have been completed at Chachalaca for a total of 136.5 m (Table 2 and Figure 4). The core from these holes is currently being processed by our geological team on-site in preparation for analysis. Targets currently in the program to be drill tested in coming months include (Figure 4):

• Faisane
  
  • Possible extensions of the San Marcial silver resource to the NW
  • Follow up a high-grade gold intercept (1m at 204.6 g/t Au) from the Company’s first drill hole SM-19-01 in 2019
• Guacamayo
  
  • Follow up extensions of the San Marcial silver resource to the SE
  • Test a key contact zone along strike with evidence of gold mineralization
• Venados
  
  • Follow up prospective gold zones
• Mariposa
  
  • Follow up prospective gold zones along the Faisanes-Mariposa Trend
  • Follow up a channel sample containing 0.2 m at 6.81 g/t Au

Table 2:   San Marcial Regional Drilling Program (NW150 rig)

3. SHALLOW SURFACE DRILLING
As a follow up to the litho-geochemistry sampling program, GR Silver Mining is testing areas of interest with shallow surface drilling. The Company has acquired two small portable drill rigs that utilize 41 mm diamond core bits to drill down to between 10 and 15 m from surface (Figure 5). These rigs can quickly and economically provide 3D understanding of anomalous areas as defined by the geological team. To date, six holes (total 48.9 m) have been drilled at the SW end of the Faisanes-Mariposa trend, while seven holes have been completed at Chachalaca (total 64.2 m). These drill holes are being logged and processed by our technical team.

4. LITHO-GEOCHEMICAL SAMPLING
Since releasing the San Marcial NI 43-101 resource in February 2019, a key component of the Company’s exploration strategy has been its litho-geochemical sampling program. This entails sampling of in situ rock at surface on a 25 m x 25 m grid across the concession. These samples are prepared and analyzed by portable XRF equipment at our on-site facility, with strict QA/QC protocols – a significant cost-saving compared to commercial analyses. Importantly, the 12,000 samples collected to date by the Company (Figure 4) have led to a comprehensive geochemical and lithological database with multi-element results, covering more than 60% of the concession, and importantly, the main mineralized trends.

One of the key pathfinder elements in the litho-geochemical program at San Marcial is lead (Pb). GR Silver Mining has discovered an important arcuate anomalous trend within the Pb results that stretches almost 2 km from the NW extremity of the San Marcial Resource Area (Faisanes) to the SW through the Mariposa target (Figure 6). This corridor is one of the focuses of our field team – this large ring-shaped feature could indicate a large buried system within this volcanic environment. Initial assessment of the target areas generated by the litho-geochemical sampling is undertaken using mapping and channel sampling.

Channel sampling of veins in shallow workings at the Mariposa target have returned encouraging gold results including 0.2 m at 6.81 g/t Au and 0.6 m at 3.82 g/t Au. Also, in a channel closer to the Faisanes target, a recent sample returned an intersection of 4 m at 0.42 g/t Au.

These new gold prospects are in addition to the high-grade channel sampling results reported in 2019 from the Nava target (News Releases May 7, 2019 and July 10, 2019).

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

Gold and silver assay results in this release are generated by a third-party laboratory. GR Silver Mining has implemented QA/QC procedures which include insertion of blank and standard samples in all sample lots sent to SGS de México, S.A. de C.V. laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Au>10 ppm or Ag >100 ppm (over limits), these samples are re-analyzed by SGS de Mexico in Durango. The analytical methods are: 4-acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits.

Lead results reported in this release are generated (along with a broad suite of other elements) by use of hand held portable XRF (pXRF) equipment (two units owned by the Company). The specific models are both NITON XL3t 955 ULTRA. GR Silver Mining has implemented QA/QC procedures which include insertion of CRM (blank and standard) samples in all sample lots tested by pXRF in the Company’s facilities in Rosario, Mexico. The NITONs utilize a default setting, without calibrations, with QC checked weekly and established protocols for QA. Every 3 months the parameters for QC are reviewed and adjusted, according to each CRM performance. The NITON XRF analyses of the litho-geochemical program, while qualitatively reliable, should not be relied upon as there are inherent uncertainties in XRF analyses. Laboratory assay results provide a more accurate and reliable grade estimate of the samples, and are used in later stage follow up programs.

ABOUT GR SILVER MINING LTD.

GR Silver Mining Ltd. (GRSL.V) is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District, Sinaloa, Mexico.

Plomosas Silver Project
GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The Project has an 8,515-hectare property position and is strategically located within 5 km of the San Marcial Silver Project in the southeast of Sinaloa State, Mexico. The Plomosas Project comprises six areas with an average of 100 surface and underground drill holes in each area, geophysical and geochemical data covering most of the concession, and the delineation of 16 exploration/drilling targets.

The 100% owned assets include all facilities and infrastructure including: access roads, surface rights agreement, water use permit, 8,000 m of underground workings, water access, 60 km – 33 KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing approximately US$30m of previous capital investments. The previous owners invested approximately US$18 million in exploration.

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San Juan, La Colorada, Yecora, San Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

San Marcial Project
San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver Mining is currently expanding its NI 43-101 resource estimate at the San Marcial Project, which contains 36 Moz AgEq (Indicated) + 11 Moz AgEq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 26, 2019.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 620 Moz silver and 11 Moz gold over a period of more than 100 years.

Other Projects
GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

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 GR Silver Mining Ltd. (TSXV: GRSL, FRANKFURT: GPE, OTCQB: GLYXF) (“GR Silver” or the “Company”) – is pleased to announce high-grade drill results for the San Juan area at Plomosas Silver Project (“Plomosas Project”), in Sinaloa, Mexico. San Juan is one of six priority areas with a combination of recent (2016 to 2018) and historical drilling data. The most significant sample results for this release represent the following:

• Drill results assaying:
  • 3.5 m at 1,419 gpt Ag, 15.5 gpt Au (2,930 gpt AgEq*)
    • Including 0.7 m at 6,438 gpt Ag, 70.9 gpt Au (13,335 gpt AgEq*)
  • 15 m at 108 gpt Ag,0.12 gpt Au, 4.7% Zn, 1.9% Pb (361 gpt AgEq*)
    • Including 3.4 m at 172 gpt Ag, 0.34 gpt Au, 14% Zn, 6.2% Pb (944 gpt AgEq*)
      
      
• A high-grade silver (Ag) – gold (Au) hydrothermal breccia-hosted mineralized zone from drill hole SJS-18-01A that returned 3.5 m grading 1,419 gpt Ag and 15.5 gpt Au (including 0.7 m grading 6,438 gpt Ag and 70.9 gpt Au) (see San Juan Area), (see Drill Core Photo1). It represents a new near-surface mineralized system sub-parallel to similar mineralization recently released from sampling of the San Juan underground workings, which returned up to 6,128 gpt Ag over 0.2 m (see News Release dated 2 April, 2020).
  
  
• Confirmation of an extension of mineralization, up to 300 m down dip, from the recently sampled underground workings at San Juan, based on intervals in drill holes SJS-18-02, SJS-18-11 and SJS-18-01A. This mineralization is polymetallic in nature, displaying high-grade zinc (Zn) – lead (Pb) and silver-gold hosted in veining/hydrothermal breccia along the San Juan fault structure and similar to other occurrences in the Plomosas Project (see Drill Core Photo2).

GR Silver Mining President and CEO, Marcio Fonseca, commented, “We are very pleased to report the discovery of high-grade silver-gold mineralized zones in the San Juan area. These significant results demonstrate the district-scale potential for high-grade silver-gold veins within the Plomosas Project. The results also indicate potential for bulk tonnage polymetallic mineralization (Zn-Pb with attractive Ag-Au grades). The drill results suggest continuous high-grade vein/breccia mineralization hosted by major regional structures with true thickness ranging from 2.5 m up to 20 m. We can trace the San Juan regional structure on surface for over 2 km within an altered and mineralized trend. Additionally, the identification of multiple subparallel secondary structures supports the upside potential for new discoveries. It is the first time the recent and historical results from San Juan have been released publicly. We continue to review and validate the remaining drill holes from the Plomosas Project, aiming to provide additional drill results for San Juan and the other five zones as we progress.”

The following Table 1 summarizes the most significant drill assay results (uncut, undiluted) for the first group of holes released for the San Juan area.

Table 1:   Summary Drill Hole Results – News Release April 13^th, 2020- (San Juan area only)

The existing drill hole results on the Plomosas Project were generated by drill campaigns completed by Grupo Mexico (“Grupo Mexico”) in the period 1982-2000 and First Majestic Silver Corp. (“First Majestic”) in the period 2016-2018. The primary objective of Grupo Mexico was the discovery of base metals as potential feed for their Plomosas/La Cruz flotation plant operations nearby. First Majestic followed up by drilling wide-spaced drill holes (in most cases validating historical drill holes) on the six initial exploratory targets, with a focus on silver and gold, as well as defining new zones. Neither Grupo Mexico nor First Majestic previously released any of these drill results to the public.

An on-site and database review has shown that several First Majestic and Grupo Mexico drill holes were not fully sampled and assayed. Wherever missing assay intervals are identified at the Plomosas Project, the relevant drill holes will be re-examined, sampled and assayed, using remaining core.

All San Juan drill holes from this News Release (Table 1) have intercepted epithermal quartz veining, stockwork veinlets, breccias and/or shears trending NW to SE and dipping 50 to 80 degrees NE, which can be correlated to major faults (Figure 1). At San Juan, the silver, silver-gold and zinc-lead-silver-gold mineralization overprint on each other to form one large mineralized system. High-grade silver zones are generally associated with acanthite, galena and sphalerite-rich vein and breccia zones. The hydrothermal breccias display features supporting multi-phase mineralizing events with generally rounded clasts. All holes bottomed in altered and low-grade mineralized host rocks. The geological setting shows a predominance of shallow dipping andesites, tuffs and rhyolites with mineralization generally cross cutting the stratification, defined by lava flows and volcanic fragmental layers (see Cross Section A-A’). There is potential for the discovery of mineralization not only along the extensive fault system, but also in multiple faults and their connection with mineralization and the stratification (Figure 1).

San Juan Area

At San Juan, Grupo Mexico’s historical reports indicate that the initial plans for the underground operations focused on developing two shallow levels where the veins/breccias are close to surface, spending little time modelling and integrating data. This explains the considerable amount of silver-gold mineralization is in areas with surface evidence of multiple fault sets, which favors additional discoveries.

Table 2:   Drill Hole Location

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas Project was reviewed and/or prepared under the supervision of Marcio Fonseca, P.Geo.

Quality Assurance Program and Quality Control Procedures (“QA/QC”)

The recent drill holes completed by First Majestic (SJS-18-01A, SJS-18-02 and SJS-18-11) followed QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and standard samples in all sample lots sent to First Majestic’s Laboratorio Central facilities in La Parilla, Durango, for sample preparation and assaying. Additional validation and check assays were performed at independent laboratory by at SGS de México, S.A. de C.V facilities in Durango, Mexico. The analytical methods applied for these recent holes for Ag and Au assays comprised of Fire Assay with Atomic Absorption finish for samples above Au > 10ppm and Ag > 300ppm and Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry.

GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols and at this stage is considering the information historic for news release purpose.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. (GRSL.V) is a Mexico-focused company engaged in cost-effective silver-gold resource expansion on its key assets which lie on the eastern edge of the Rosario Mining District.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village of La Rastra, within the Rosario Mining District. The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization remains under-explored. The Plomosas Silver Project has approximately +500 recent and historical drill holes in six areas – Plomosas, San Juan, La Colorada, Yecora, San Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future (see Plomosas Project 3D Drilling Database) .

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver, lead, and zinc open pit-amenable project. GR Silver Mining is currently expanding its NI 43-101 resource estimate at the San Marcial Project, which contains 36Moz AgEq (indicated) + 11Moz AgEq (Inferred), by defining new high-grade gold and silver targets along the project’s 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years. The NI 43-101 resource estimate ( San Marcial Project – Resource Estimation and Technical Report) was completed by WSP Canada Inc. on March 26, 2019.

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-ounce San Dimas Mining District which has historically produced more than 620Moz silver and 11Moz gold over a period of more than 100 years.

OTHER PROJECTS

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.

Mr. Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

SOURCE GR Silver Mining Ltd.

For further information: +1 (604) 202 3155, Email: info@grsilvermining.com

GR Silver Mining Ltd. (TSXV: GRSL, FRANKFURT: GPE, OTCQB: GLYXF) (“GR Silver” or the “Company”) – is pleased to announce assay results for initial underground channel sampling from the San Juan underground workings at the recently acquired Plomosas Silver Project (“Plomosas”), in Sinaloa, Mexico. San Juan is one of six priority areas with underground development not yet exploited by previous owners (view photo here). The underground workings at San Juan have recently been rehabilitated by GR Silver to allow for this initial sampling program. The company is currently validating all recent and historical information, including the review of over 500 drill holes in the six priority areas and sampling mineralized zones, aiming to complete multiple resource estimations in 2020.

The most significant sample results for this release returned high-grade intervals of 0.4 m at 3,003 g/t Ag and 0.2 m at 6,128 g/t Ag both within a composite sample of 2.1 m at 532 g/t Ag, defining in situ high grade silver veins/breccia along with high-grade gold, zinc and lead mineralization (Table 1). Other important intervals include 0.5 m at 1,142 g/t Ag within a channel composite of 9.3 m at 346 g/t Ag, hosted by a hydrothermal breccia, typical of low sulphidation epithermal mineralized systems. These results provide support for the potential definition of wide, mineable, underground zones at San Juan.

The following Table 1 and Figure 1 summarize significant (>300 g/t Ag) composited and un-composited assay results (uncut, undiluted) from continuous channel sampling on the initial 140 m of the San Juan Vein (upper level).

Table 1- Results Channel Sampling San Juan Vein