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GR Silver Mining Reports Wide Gold and Silver Zones from the Final Drill Holes to be Incorporated into the Plomosas Mine Area Resource Estimation

 GR Silver Mining Ltd. (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) (“GR Silver Mining” or the “Company”) – is pleased to report assay results from the final drill holes to be incorporated into the resource estimation at the Plomosas Mine Area at the Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico. These results represent wide intersections of predominantly gold and silver-rich epithermal veining.

Drill highlights:

     PLI21-10

  • 41.7 m @ 1.13 g/t Au

     PLI21-14

  • 11.1 m @ 0.81 g/t Au

     279-IM

  • 13.0 m @ 328 g/t Ag, 0.5 % Pb, 1.2% Zn, 0.1% Cu and 0.2 g/t Au – 397 g/t AgEq1

A listing of significant drill results from the Plomosas Mine Area are presented in Table 1.

_________

1 AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1,600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu.

GR Silver Mining President and CEO, Marcio Fonseca commented “This final batch of drilling results from drill holes PLI21-10 and 14, represent a step out of approximately 150 m to the north from the closest underground information in the Plomosas Mine Area. As a result, they confirm the presence of attractive gold and silver epithermal mineralization in unmined zones of the historic Plomosas Mine Area. These results represent the delineation of new prospective host rocks defining additional targets for future drilling beyond the area of the maiden resource estimation, which is currently in progress.”

The gold mineralization, as evidenced in drill holes PLI21-10 and 14, is hosted by hydrothermal breccias which commonly include irregular colloform banded quartz veins related to a NW-oriented structural trend. This mineralization style is illustrated by the core samples displayed in the following link: (see Link to Core Photos).

The following figure (Figure 1) illustrates the location of all surface holes released to date on the Plomosas Mine Area and a select group of results representing the Ag-Au rich mineralized intervals that are currently being incorporated into the maiden resource estimation for this area.

The longitudinal section (Figure 2) demonstrates the 2 km long N-S trend of the Plomosas Mine Area, extending northwards towards the historical old workings at El Ranchito and El Aguacate. The longitudinal section also includes geophysical anomalies outlining the preferential location of potential mineralized zones along strike, as well as grade times thickness pierce points of surface and underground drill holes in AgEq grams per tonne times metres (gtm).

The discovery of precious metal only mineralized epithermal veins has encouraged the Company to pursue an extensive surface core drilling program, outside of  areas under resource estimation, such as at Plomosas South (see News Release dated June 21, 2021), with the objective of identifying new discoveries in H2|2021.

Table 1: Drill Hole Assay Results

Hole No.

From
(m)

To
(m)

Drilled
width
(m)

True
width
(m)

Ag
g/t

Au
g/t

Pb %

Zn %

Cu %

AgEq
g/t

PLI21-10

46.7

88.4

41.7

29.5

1

1.13

n/a

0.1

n/a

includes

48.6

61.4

12.8

9.1

1

2.12

0.1

0.1

n/a

PLI21-14

64.0

75.1

11.1

6.4

1

0.81

n/a

0.1

n/a

includes

64.0

70.0

6.0

3.4

1

1.38

n/a

0.2

n/a

PLS20-05

9.0

13.0

4.0

3.6

163

0.05

6.4

3.7

0.2

499

PLS21-06

8.1

14.3

6.2

6.1

120

0.48

2.8

0.7

0.1

285

PLI17-33

113.8

114.8

1.0

0.9

9

5.24

0.2

0.2

n/a

279-IM

25.3

38.3

13.0

11.8

328

0.19

0.5

1.2

n/a

397

311

1.0

2.0

1.0

1.0

680

0.04

0.6

2.4

0.08

774

5.0

10.0

5.0

4.9

143

0.02

1.2

4.3

0.09

397

AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1,600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu. All numbers are rounded. Results are uncut and undiluted. “n/a” = no relevant assays.

Table 2: Drill Hole Locations

Hole No.

East (m)

North (m)

RL (m)

Azinuth (*)

Dip (*)

Depth (m)

Type

PLI21-10

451,209

2,552,085

771

118

0

180.0

UG

PLI21-14

451,039

2,552,058

740

230

-65

272.3

UG

PLS20-05

451,544

2,552,011

951

0

-90

150.5

Surface

PLS21-06

451,592

2,552,248

910

90

-50

109.5

Surface

PLI17-33

451,172

2,552,219

772

60

-22

162.2

UG

279-IM

451,158

2,551,655

735

90

24

76.8

UG

311

451,281

2,552,198

774

128

-45

77.5

UG

 All numbers are rounded. BOLD drill holes are drilled by GRSL; East (m) and North (m) are UTM coordinates in WGS84, zone 13.

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 Company has implemented QA/QC procedures which include insertion of blank, duplicate 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 Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. 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.

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. Lead 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 100%-owned assets which lie on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico.

Plomosas Silver Project

GR Silver Mining’s 6,574 ha Plomosas Silver Project is located near the historic mining village of La Rastra and within 5 km of the Company’s San Marcial Silver Project, in the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas lead-zinc(-silver-gold) underground mine, operated a 600 tpd crush-mill-flotation circuit from 1986 to 2001, producing approximately 8 M ounces of silver, 73 M pounds of lead and 28 M pounds of zinc2.

The March 2020 acquisition of the Plomosas Silver Project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

The Company recently completed a drilling program with surface holes focused on expanding known mineralization along strike in two areas, the Plomosas Mine Area and the San Juan Area. Underground drilling included in the program targeted the extension of recent Au-rich discoveries at the lowest level (775 m RL, or ~250 m below surface) of the Plomosas Mine Area and six low sulphidation epithermal veins at the San Juan Area. Both areas are currently the subject of NI 43-101 resource estimations.

The 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$30 M of previous capital investments. The previous owners invested approximately US$18 M in exploration, including extensive geophysics and geochemistry programs.

The silver-gold mineralization on this Project displays the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal mineralized vein/breccia system. Previous exploration was focused on polymetallic (Pb-Zn+/-Ag-Au) shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas Mine. The E-W portion of the mineralization and extensions of the main N-S Plomosas Fault remain under-explored.

__________

2 Historical production figures according to internal company production reports by IMMSA (Grupo Mexico)

San Marcial Project

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. The Company filed a National Instrument 43-101 (“NI 43-101”) report entitled “San Marcial Project Resource Estimation and Technical Report, Sinaloa, Mexico” having an effective date of March 18, 2019 and an amended date of June 10, 2020 (the “Report”), which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) resource estimate. The Report was prepared by Todd McCracken and Marcelo Filipov of WSP Canada Inc. and is available on SEDAR. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down-dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years.

Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource area.

La Trinidad Project

The La Trinidad Project was acquired in March 2021. While La Trinidad has been the focus of artisanal mining activity over many decades, commercial operations began late in the 20th century. Anaconda Minerals Corp. was first to drill the project in the mid-late 1980s. After initially taking up an option on the Project in 1993, Eldorado Gold Corp. then commenced an open pit gold mine at La Trinidad in 1995, known as the Taunus Pit, with ore being processed via a heap leach operation. The mine operated until 1998, producing approximately 52,000 oz of gold3.

Exploration undertaken by Oro Gold from 2006 identified additional resources below the Taunus Pit and operations recommenced late in 2014. Gold output from the heap leach pads continued until late 2019 for a total cumulative production by Oro Gold of 112,000 oz gold4,5. In addition to La Trinidad, the portfolio acquired by GR Silver Mining includes an extensive regional database of geological, geochemical and geophysical information resulting from historical exploration expenditure by Oro Gold of more than CDN$18.6 M since 2006.

_________

3 Refer to Marlin Gold Mining Ltd. 2nd Amended NI 43-101 Technical Report dated February 1, 2013

4 Refer to Marlin Gold Mining Ltd. MD&A dated April 30, 2015, April 29, 2016, May 1, 2017, April 30, 2018, August 29, 2018

5 Refer to Mako Mining Corp. MD&A dated August 28, 2019, April 29, 2020

Cimarron Project

Cimarron is another advanced stage project that was acquired along with the La Trinidad Project in March 2021 and is located 40 km to the NW of La Trinidad. A number of targets have been identified at Cimarron including Calerita, El Prado, Huanacaxtle, Betty and Veteranos, however Calerita is the only target to have been drilled to date. The near surface historical Inferred Resource at the Calerita prospect contains 3.7 Mt at 0.65 g/t Au for approximately 77,000 oz of gold6, which is considered to be open along strike and down dip.

While the 2011 resource is considered by GR Silver Mining to be a historical resource, the Company considers the resource estimate as being relevant and reliable, considering a lack of significant additional exploration work since its release. A key parameter in the historical resource is the usage of a US$1,200/oz gold price compared to a much higher current spot gold price. A Qualified Person (QP) would be required to review the historical resource report and make recommendations in order to verify and upgrade it to a current resource. A QP has not done sufficient work to classify the historical estimate as current mineral resources. The Company is treating the 2011 resource estimate as a historical estimate. The company plans to re-assess the work completed by previous owners and define the feasibility of additional drilling, aiming at identifying additional near-surface mineralization.

The Plomosas, San Marcial and La Trinidad Projects collectively represent a geological setting resembling the multi-million-ounce San Dimas Mining District which has historically produced more than 600 Moz Ag and 11 Moz Au over a period of more than 100 years.

_______

6 Refer to Oro Mining Ltd. NI 43-101 Technical Report dated March 18, 2011

Other Projects

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas, La Trinidad and San Marcial in the Rosario Mining District. Following the acquisition of Marlin Gold Mining Ltd. (“Marlin”) in March 2021, GR Silver Mining controls a concession portfolio of over 1,000 km2, two previously producing mines fully permitted for future developments and a total combined 75 km of structures with field evidence of 24 Ag-Au veins in historic old workings.

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

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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: Brenda Dayton, VP Corporate Communications, Telephone: +1.604.558.6248, Email: bdayton@grsilvermining.com

http://www.grsilvermining.com/

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GR Silver Mining Reports Drill Results Including a High-grade Au-rich Polymetallic Vein from the Plomosas Mine Area

GR Silver Mining Ltd. (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) (“GR Silver Mining” or the “Company”) – is pleased to report drill results in the northern portion of the Plomosas Mine Area. These results represent intersections of polymetallic (Ag-Au-Pb-Zn) hydrothermal breccia near the surface in unmined areas in the historic Plomosas Mine Area (Figure 1) at the Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

Drill highlights include:

  • SD-13: 1.8 m @ 15.8 g/t Au, 1.1 % Pb, 3.9 % Zn and 17 g/t Ag – 1,779 g/t AgEq1
  • PLS21-13A: 6.2 m @ 171 g/t Ag, 1.1 % Pb, 0.7 % Zn, 0.2 % Cu and 0.4 g/t Au – 282 g/t AgEq
  • PLS21-15A: 8.1 m @ 227 g/t Ag, 1.7 % Pb, 1.4 % Zn, 0.1 % Cu and 0.3 g/t Au – 354 g/t AgEq

GR Silver Mining President and CEO, Marcio Fonseca, commented “The reported drilling results continue to demonstrate the presence of high-grade precious metal mineralization in unmined zones of the historic Plomosas Mine Area. These results also confirm the presence of wide, polymetallic (Ag-Au-Pb-Zn) hydrothermal breccias in under-explored extensions that will be integrated into the upcoming maiden resource estimation. The Company has also discovered continuous wide Ag-Au rich polymetallic mineralization near surface, in the form of high-grade epithermal veins, as well as wide, shallow mineralized zones that demonstrate potential for future open pit development in a historic Pb and Zn underground mining project”.

_________________________

1

AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1,600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu.

The following figure illustrates the location of all surface drill holes released to date on the Plomosas Mine Area. The Company has released a total of 366 surface and underground drill holes in the Plomosas Project, which also includes the San Juan Area. All results released for this area are being incorporated into a 3D Model, part of the upcoming maiden resource estimation.

Figure 1: Plomosas Mine Area: Large Epithermal System with New Discoveries (Drone image)

GR Silver Mining has completed over 16,000 m of surface and underground core drilling at the Plomosas Project since its acquisition in 2020. This represents a major advance for a development stage project  which had been dormant for many years. Additionally, the Company’s exploration team has completed structural and geological mapping surveys in both areas, revealing what the Company believes to be a district-scale Ag-Au rich epithermal system. The Company is planning the continuation of exploration and surface drilling along strike of the mineralized systems in both areas, aiming to discover extensions to the planned resource estimates in the coming months.

The longitudinal section below represents the N-S trend of the Plomosas Mine Area, displaying the location of all surface and underground drill holes released to date and the upside potential for additional Ag-Au mineralization to be discovered along strike and down dip.

Figure 2: Longitudinal Section – Plomosas Mine Area (Looking East)

Table 1: Drill Hole Assay Results for this June 7, 2021 News Release

Hole No.

From (m)

To (m)

Drilled width (m)

True width (m)

Ag g/t

Au g/t

Pb %

Zn %

Cu %

AgEq g/t

PLS21-13A

3.5

20.7

17.2

16.2

75

0.25

0.7

0.8

0.1

152

includes

4.8

11.0

6.2

5.8

171

0.41

1.1

0.7

0.2

282

PLS21-14

194.0

202.0

8.0

6.9

10

0.11

0.4

0.5

n/a

PLI21-15A

22.5

30.5

8.0

7.6

227

0.27

1.7

1.4

0.1

354

PLS21-19A

16.5

25.4

8.9

8.0

30

0.28

0.7

0.5

0.1

105

44.0

58.0

14.0

12.7

13

0.16

0.5

0.6

n/a

66

SD-13

227.7

240.8

13.1

10.7

12

2.48

1.1

1.5

n/a

343

includes

234.8

236.6

1.8

1.5

17

15.81

1.1

3.9

n/a

1,779

SD-18

243.0

243.8

0.8

0.7

93

1.74

1.8

5.4

0.1

488

SD-23

265.9

269.7

3.8

3.6

100

0.14

0.2

1.1

0.5

188

SD-30

204.4

225.7

21.3

21.0

25

0.67

1.6

2.4

0.1

218

AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1,600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu. All numbers are rounded. Results are uncut and undiluted. “n/a” = no relevant assays.

Table 2: Drill Hole Locations

Hole No.

East (m)

North (m)

RL (m)

Azimuth (˚)

Dip (˚)

Depth (m)

Type

PLS21-13A

451524

2551901

977

90

-75

115.5

Surface

PLS21-14

451241

2551803

1012

72

-75

372.0

Surface

PLI21-15A

451519

2551966

978

90

-85

101.3

Surface

PL121-19A

451498

2551844

971

90

-80

99.0

Surface

SD-13

451395

2551706

1,014

270

-74

118.25

Surface

SD-18

451381

2551776

1,025

0

-90

80.0

Surface

SD-23

451381

2551776

999

270

-68

127.05

Surface

SD-30

451381

2551776

999

270

-55

203.5

Surface

All numbers are rounded. BOLD drill holes are drilled by GRSL and remaining holes represent historic drill holes drilled by Grupo Mexico.; East (m) and North (m) are UTM coordinates in WGS84, zone 13.

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 Company has implemented QA/QC procedures which include insertion of blank, duplicate 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 Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. 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.

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. Lead 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.

Corporate Update

The Company also received TSX-V approval to the share for debt transaction previously announced on May 13, 2021 and consequently has issued 45,999 common shares to settle debt of $32,659.  All shares issued in conjunction with this debt settlement are subject to a hold period expiring October 1, 2021 in accordance with applicable securities laws and the policies of the TSX-V.

About GR Silver Mining Ltd.

GR Silver Mining Ltd. is a Mexico-focused Company engaged in cost-effective silver-gold resource expansion on its 100%-owned assets which lie on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico.

Plomosas Silver Project

GR Silver Mining’s 8,515 ha Plomosas Silver Project is located near the historic mining village of La Rastra and within 5 km of the Company’s San Marcial Silver Project, in the Rosario Mining District. The Project is a past-producing asset where only one mine, the Plomosas lead-zinc(-silver-gold) underground mine, operated a 600 tpd crush-mill-flotation circuit from 1986 to 2001, producing approximately 8 M ounces of silver, 73 M pounds of lead and 28 M pounds of zinc.

The March 2020 acquisition of the Plomosas Silver Project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

The Company is completing a drilling program with surface holes focused on expanding known mineralization along strike in two areas, the Plomosas Mine Area and the San Juan Area. Underground drilling included in the program is targeting the extension of recent Au-rich discoveries at the lowest level (775 m RL, or ~250 m below surface) of the Plomosas Mine Area and six low sulphidation epithermal veins at the San Juan Area. Both areas are currently the subject of NI 43-101 resource estimations.

The 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$30 M of previous capital investments. The previous owners invested approximately US$18 M in exploration, including extensive geophysics and geochemistry programs.

The silver-gold mineralization on this Project displays the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal mineralized vein/breccia system. Previous exploration was focused on polymetallic (Pb-Zn+/-Ag-Au) shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas Mine. The E-W portion of the mineralization and extensions of the main N-S Plomosas Fault remain under-explored.

In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets of which 11 have high priority for future exploration programs.

San Marcial Project

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. The Company filed a National Instrument 43-101 (“NI 43-101”) report entitled “San Marcial Project Resource Estimation and Technical Report, Sinaloa, Mexico” having an effective date of March 18, 2019 and an amended date of June 10, 2020 (the “Report”), which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) resource estimate. The Report was prepared by Todd McCracken and Marcelo Filipov of WSP Canada Inc. and is available on SEDAR. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down-dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years.

Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource area.

La Trinidad Project

The La Trinidad Project was acquired in March 2021. While La Trinidad has been the focus of artisanal mining activity over many decades, commercial operations began late in the 20th century. Anaconda Minerals Corp. was first to drill the project in the mid-late 1980s. After initially taking up an option on the Project in 1993, Eldorado Gold Corp. then commenced an open pit gold mine at La Trinidad in 1995, known as the Taunus Pit, with ore being processed via a heap leach operation. The mine operated until 1998, producing approximately 52,000 oz of gold2.

Exploration undertaken by Oro Gold from 2006 identified additional resources below the Taunus Pit and operations recommenced late in 2014. Gold output from the heap leach pads continued until late 2019 for a total cumulative production by Oro Gold of 112,000 oz gold3,4. In addition to La Trinidad, the portfolio acquired by GR Silver Mining includes an extensive regional database of geological, geochemical and geophysical information resulting from historical exploration expenditure by Oro Gold of more than CDN$18.6 M since 2006.

Cimarron Project

Cimarron is another advanced stage project that was acquired along with the La Trinidad Project in March 2021 and is located 40 km to the NW of La Trinidad. A number of targets have been identified at Cimarron including Calerita, El Prado, Huanacaxtle, Betty and Veteranos, however Calerita is the only target to have been drilled to date. The near surface historical Inferred Resource at the Calerita prospect contains 3.7 Mt at 0.65 g/t Au for approximately 77,000 oz of gold5, which is considered to be open along strike and down dip.

While the 2011 resource is considered by GR Silver Mining to be a historical resource, the Company considers the resource estimate as being relevant and reliable, considering a lack of significant additional exploration work since its release. A key parameter in the historical resource is the usage of a US$1,200/oz gold price compared to a much higher current spot gold price. A Qualified Person (QP) would be required to review the historical resource report and make recommendations in order to verify and upgrade it to a current resource. A QP has not done sufficient work to classify the historical estimate as current mineral resources. The Company is treating the 2011 resource estimate as a historical estimate. The company plans to re-assess the work completed by previous owners and define the feasibility of additional drilling, aiming at identifying additional near-surface mineralization.

The Plomosas, San Marcial and La Trinidad Projects collectively represent a geological setting resembling the multi-million-ounce San Dimas Mining District which has historically produced more than 600 Moz Ag and 11 Moz Au 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, La Trinidad and San Marcial in the Rosario Mining District. Following the acquisition of Marlin Gold Mining Ltd. (“Marlin”) in March 2021, GR Silver Mining controls a concession portfolio of over 1,000 km2, two previously producing mines fully permitted for future developments and a total combined 75 km of structures with field evidence of 24 Ag-Au veins in historic old workings.

__________________________

2 

Refer to Marlin Gold Mining Ltd. 2nd Amended NI 43-101 Technical Report dated February 1, 2013

3

Refer to Marlin Gold Mining Ltd. MD&A dated April 30, 2015, April 29, 2016, May 1, 2017, April 30, 2018, August 29, 2018

4 

Refer to Mako Mining Corp. MD&A dated August 28, 2019, April 29, 2020

5 

Refer to Oro Mining Ltd. NI 43-101 Technical Report dated March 18, 2011

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

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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: Brenda Dayton, VP Corporate Communications, Telephone: +1.604.558.6248, Email: bdayton@grsilvermining.com

Related Links

http://www.grsilvermining.com/

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GR Silver Mining Reports High-Grade and Wide Silver Mineralization From Drilling in the San Juan Area


  • 2.0 m @ 954 g/t Ag, 1.3 g/t Au, 1.2 % Pb and 1.6 % Zn (1,177g/t AgEq1)
    including 1.0 m @ 1,184 g/t Ag, 2.3 g/t Au, 1.3 % Pb and 0.9 % Zn (1,486 g/t AgEq)
  • 1.1 m @ 781 g/t Ag, 0.2 g/t Au, 1.5 % Pb and 0.3 % Zn (863 g/t AgEq)
  • 22.3 m @ 62 g/t Ag, 0.3 g/t Au, 0.6 % Pb and 0.4 % Zn (126 g/t AgEq)

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report drill results that extend the high-grade silver mineralization 100 m to the north along strike in the San Juan Vein. Additionally, a wide, up to 65 m continuous silver mineralized zone, is delineated on the footwall of the Yecora Vein, defining shallow wide mineralized zones to be included in the upcoming maiden resource estimate at San Juan. Both veins are part of the vein system of the San Juan Area of the Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

The results contained within this news release integrate drill holes obtained from the Company’s current drill program with the existing historic drilling data to support the upcoming maiden resource estimates on the Plomosas Project. They represent intersections in two of the six veins already delineated in the San Juan Area (Figure 1).

The high-grade silver mineralization encountered in the San Juan Vein confirms continuity of the mineralization close to surface, 100 m to the north along strike, and also correlates with previously identified high-grade mineralization at depth (Figure 2).

GR Silver Mining President and CEO, Marcio Fonseca commented, “We are very pleased to report additional results from the Company’s 2021 drilling of the San Juan Area, which in combination with historical drill results, significantly extend shallow high-grade silver vein structures. The results also identify wide mineralization adjacent to existing high-grade silver veins, defining a large epithermal system to support the maiden resource delineation underway for the San Juan Area. These results highlight the potential of three of the six veins in the San Juan Area to host a shallow high-grade resource. The remaining veins at San Juan provide an opportunity for possible future resource estimations.”

The broad interval of silver mineralization on the footwall of the Yecora Vein represents the discovery of a much larger footprint than initially interpreted for this epithermal vein system, supporting potential open pit-amenable zones. This type of wide mineralization, hosted in a hydrothermal breccia at Yecora, has geological similarities with high-grade silver-gold mineralization drilled 100 m along strike and previously reported (see News Release dated November 23, 2020). Ground geophysical data indicates the presence of large bodies at depth, possibly related to the wide-spread silver mineralized zones at San Juan.

Surface diamond core drilling is ongoing at the other veins within the San Juan Area (Figure 2), particularly in the La Colorada Vein. GR Silver continues to delineate high-grade, shallow silver-gold mineralization at the La Colorada Vein. The La Colorada Vein represents a NW continuation of the Yecora Vein, in an area with a series of shallow old workings, and where the vein system has the potential to be extended at least another 1 km along strike. The shallow core drilling program underway at the San Juan Area will integrate three vein zones; San JuanYecora and La Colorada, with a combined total strike length of 2 km into an initial maiden resource estimate.

Additional veins located in the San Juan Area, which include San Francisco, Loma Dorada and La Odisea, will be the subject of additional diamond drilling in 2021, following the completion of the maiden resource estimation, intending to continue the Company’s identification of new resources in the Plomosas Project.

____________________________
1 AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1,600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu.

The longitudinal sections below represent the trend of the La Colorada-Yecora Veins and separately projects the parallel San Juan Vein (Figure 2).

Table 1 (below) summarizes the most significant assay results for the drill holes in this News Release covering the Yecora Vein and the San Juan Vein.

Table 1: Drill Hole Assay Results – News Release May 3, 2021 (Yecora Vein and San Juan Vein)

Hole No.

From
(m)

To
(m)

Drilled
width
(m)

True
width
(m)

 Ag
g/t

 Au
g/t

Pb %

Zn %

Cu %

 AgEq
g/t

SJS21-03A

166.2

169.2

3.0

2.9

144

0.09

0.3

0.8

na

186

SJS21-04

117.0

127.5

10.5

9.8

242

0.31

0.4

0.8

na

310

includes

118.2

120.3

2.0

1.9

954

1.29

1.2

1.6

0.1

1,177

118.2

119.2

1.0

0.9

1,184

2.27

1.3

0.9

na

1,486

SJS21-05

108.9

123.5

14.6

`12.5

52

0.05

0.1

0.4

0.01

73

SJS21-05

128.5

130.6

2.1

1.8

61

0.01

0.2

0.4

0.01

82

SJS21-06

70.0

76.0

6.0

5.8

31

0.10

0.1

0.2

0.01

47

SJS21-07

No Significant Assays

SJS21-08

No Significant Assays

SJS21-09

38.0

40.0

2.0

1.9

45

0.40

1.9

6.4

0.01

324

LRD-35

81.8

89.8

8.0

4.00

126

0.08

1.7

0.7

na

214

LRD-37

40.0

62.3

22.3

20.2

62

0.31

0.6

0.4

na

126

includes

53.2

59.5

6.3

5.7

154

0.96

1.2

0.4

na

308

LRD-39

45.0

50.7

5.7

5.6

223

0.45

0.7

0.7

na

312

LRD-50

46.4

112.2

65.8

46.0

10

0.04

0.4

0.8

na

52

LRD-51

79.5

95.5

16.0

13.1

4

0.05

0.4

0.8

na

LRD-52

49.8

59.1

9.3

8.0

20

0.28

0.4

0.6

na

80

67.0

71.5

4.5

3.9

311

0.08

0.8

0.2

na

354

includes

69.2

70.3

1.1

1.0

781

0.21

1.5

0.3

na

863

LRD-61

92.8

145.1

52.4

40.1

5

0.07

0.4

1.0

na

YE-6

35.6

36.4

0.8

0.6

27

0.01

1.7

6.3

0.1

272

63.8

65.0

1.2

0.9

6

0.01

1.7

1.8

na

YES20-02

0.0

15.0

15.0

13.2

2

0.31

0.2

1.9

na

YES20-03

209.2

244.9

35.7

31.5

1

0.06

0.1

0.6

na

227.9

233.1

5.3

4.6

2

0.31

0.2

1.9

na

AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu. All numbers are rounded. Results are uncut and undiluted. “na” = no relevant assays

The following table (Table 2) summarizes the collar locations for drill holes reported in this News Release.

Table 2: Drill Hole Locations – News Release May 3, 2021 (Yecora Vein and San Juan Vein)

Hole No.

East (m)

North (m)

RL (m)

Dip (˚)

Azimuth
(˚)

Depth
(m)

SJS21-03-A

448288

2550667

965

227

-60

184.5

SJS21-04

448170

2550727

934

196

-45

177

SJS21-05

448202

2550700

943

206

-50

150.35

SJS21-06

448139

2550685

940

245

-50

86.5

SJS21-07

448248

2550545

901

220

-80

75

SJS21-08

448339

2550479

907

220

-60

80

SJS21-09

448294

2550510

895

220

-70

55.5

LRD-35

447754

2550685

821

0

-90

136.55

LRD-37

447754

2550685

821

270

-70

96.4

LRD-39

447754

2550685

821

270

-43

83.95

LRD-50

447754

2550715

825

0

-90

140.25

LRD-51

447775

2550655

816

0

-90

119.2

LRD-52

447754

2550715

825

270

-70

118.9

LRD-61

447844

2550685

840

270

-80

166.9

YE-6

450073

2548236

1117

235

-75

114.95

YES20-02

447673

2550628

799

252

-60

21.0

YES20-03

447931

2550703

842

230

-80

350.0

All numbers are rounded. Red drill holes are drilled by GRSL; East (m) and North (m) are UTM coordinates in WGS84, zone 13.

Based on the results to date, the Company intends the following:

  • To complete the remaining 1,600 m of surface drilling at the San Juan Area by May 2021, covering the San JuanYecora and La Colorada Veins
  • To complete a maiden NI 43-101 mineral resource for the San Juan Area and a maiden NI 43-101 resource for the Plomosas Mine Area by the end of Q2/2021
  • Surface drilling on three additional veins; San Francisco, La Odisea and Loma Dorada, to further delineate extensions to the known mineralization

The Plomosas Mine Area and San Juan Area represent two independent areas at resource estimation stage. The Plomosas Mine Area has a current strike length of 600 m and the San Juan Area is 2 km in length. The Company is completing two separate resource estimates which will be part of the combined maiden NI 43-101 report for the Plomosas Project.

Both areas have a geological footprint similar to the San Marcial Project, 5 km to the south. At the San Marcial Project the company has estimated an initial NI 43-101 resource of 29 Moz Ag (Indicated) and 10 Moz Ag (Inferred)2, on the initial 500 m strike length. The San Marcial NI 43-101 resource is part of a larger 6 km trend under exploration, including a current ground geophysics survey and diamond drilling planned for later in 2021.

The integration of the Plomosas Project and the San Marcial Project, together with the recent acquisition of the Trinidad Project, provides the Company with full control of three major structural corridors on the eastern half of the Rosario Mining District, representing a total of 75 km of strike length. During 2021, GR Silver Mining will continue to explore new mineralized zones, close to surface, within these projects, providing potential for additional resource growth.

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 Company has implemented QA/QC procedures which include insertion of blank, duplicate 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 Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. 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.

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. Lead 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.

___________________________
2 Refer to News Release dated June 12, 2020

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 lead-zinc(-silver-gold) underground mine, operated a 600 tpd crush milling flotation circuit from 1986 to 2001, producing approximately 8 Moz of silver, 73 M lbs of lead and 28 M lbs of zinc.

The Project has an 8,515 ha property position and is strategically located within 5 km of the Company’s San Marcial Silver Project in the southeast of Sinaloa State, Mexico.

The March 2020 acquisition of the Plomosas Silver Project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

The Company is carrying out a drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas Mine Area and the San Juan Area. Underground drilling included in the program is targeting the extension of recent Au-rich discoveries at the lowest level (775 m RL, or ~250 m below surface) of the Plomosas Mine Area and six low sulphidation epithermal veins at the San Juan Area. Both areas will be the subject of NI 43-101 resource estimations following completion of this drill program.

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$18M in exploration, including extensive geophysics and geochemistry programs.

The silver-gold mineralization on this Project displays the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal mineralized vein/breccia system. Previous exploration was focused on polymetallic (Pb-Zn+/-Ag-Au) shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas Mine. The E-W portion of the mineralization and extensions of the main N-S Plomosas Fault remain under-explored.

In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets of which 11 have high priority for future exploration programs.

San Marcial Project

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. The Company filed a National Instrument 43-101 (“NI 43-101”) report entitled “San Marcial Project Resource Estimation and Technical Report, Sinaloa, Mexico” having an effective date of March 18, 2019 and an amended date of June 10, 2020 (the “Report”), which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) resource estimate. The Report was prepared by Todd McCracken and Marcelo Filipov of WSP Canada Inc. and is available on SEDAR. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down-dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years.

Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource area.

La Trinidad Project

The La Trinidad Project was acquired in March 2021. While La Trinidad has been the focus of artisanal mining activity over many decades, commercial operations began late in the 20th century. Anaconda Minerals Corp. was first to drill the project in the mid-late 1980s. After initially taking up an option on the Project in 1993, Eldorado Gold Corp. then commenced an open pit gold mine at La Trinidad in 1995, known as the Taunus Pit, with ore being processed via a heap leach operation. The mine operated until 1998, producing approximately 52,000 oz of gold3.

Exploration undertaken by Oro Gold from 2006 identified additional resources below the Taunus Pit and operations recommenced late in 2014. Gold output from the heap leach pads continued until late 2019 for a total cumulative production by Oro Gold of 112,000 oz gold4,5. In addition to La Trinidad, the portfolio acquired by GR Silver Mining includes an extensive regional database of geological, geochemical and geophysical information resulting from historical exploration expenditure by Oro Gold of more than CDN$18.6 M since 2006.

Cimarron Project

Cimarron is another advanced stage project that was acquired along with the La Trinidad Project in March 2021 and is located 40 km to the NW of La Trinidad. A number of targets have been identified at Cimarron including Calerita, El Prado, Huanacaxtle, Betty and Veteranos, however Calerita is the only target to have been drilled to date. The near surface historical Inferred Resource at the Calerita prospect contains 3.7 Mt at 0.65 g/t Au for approximately 77,000 oz of gold6, which is considered to be open along strike and down dip.

While the 2011 resource is considered by GR Silver Mining to be a historical resource, the Company considers the resource estimate as being relevant and reliable, considering a lack of significant additional exploration work since its release. A key parameter in the historical resource is the usage of a US$1,200/oz gold price compared to a much higher current spot gold price. A Qualified Person (QP) would be required to review the historical resource report and make recommendations in order to verify and upgrade it to a current resource. A QP has not done sufficient work to classify the historical estimate as current mineral resources. The Company is treating the 2011 resource estimate as a historical estimate. The company plans to re-assess the work completed by previous owners and define the feasibility of additional drilling, aiming at identifying additional near-surface mineralization.

The Plomosas, San Marcial and La Trinidad Projects collectively represent a geological setting resembling the multi-million-ounce San Dimas Mining District which has historically produced more than 600 Moz Ag and 11 Moz Au over a period of more than 100 years.

_____________________________________
3 Refer to Marlin Gold Mining Ltd. (Marlin) NI 43-101 News Release dated February 1, 2013
4 Refer to Marlin MD&A Releases dated 30 April 2015, 29 April 2016, 1 May 2017, 30 April 2018, 29 August 2018
5 Refer to Mako Mining Corp. MD&A Releases dated 28 August 2019, 29 April 2020
6 Refer to Marlin NI 43-101 News Release dated March 18, 2011

Other Projects

GR Silver Mining’s other projects are situated in areas attractive for future discoveries and development in the same vicinity of Plomosas, La Trinidad and San Marcial in the Rosario Mining District. Following the acquisition of Marlin, GR Silver Mining controls a concession portfolio of over 1,000 km2, two previously producing mines fully permitted for future developments and a total combined 75 km of structures with field evidence of 24 Ag-Au veins in historic old workings.

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

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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: Telephone: +1.604.558.6248, Email: info@grsilvermining.com

http://www.grsilvermining.com/

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Clean Air Metals reports new Assays from Escape Deposit and commences additional 15,000m drill program to target Norilsk-style Massive Sulfides

Clean Air Metals Inc. (“Clean Air Metals” or the “Company“) (TSXV: AIR) (OTCQB: CLRMF) (FRA: CKU) is pleased to announce new assay results (Table 1) from the drilling campaign at the Escape Lake Deposit currently underway with two drills at the Company’s Thunder Bay North Project (the “Project“). A total of 30,000m of systematic delineation drilling connecting the Escape South and Steepledge South resource areas is planned for the Escape Lake Deposit in 2021.

Highlights (Table 1) include:

  • Hole ELR20-041 intersected 0.3m of 8.17/t Palladium (Pd), 8.34g/t Platinum (Pt), 7.15% Copper (Cu) and 0.30% Nickel (Ni) from 341.5m – 341.8m downhole located in the Escape Lake Deposit area 350m north of the centroid of the Escape South High Grade Zone.

  • Hole ELR21-037 intersected 9.0m of 1.47g/t Palladium (Pd), 1.28g/t Platinum (Pt), 0.61% Copper (Cu) and 0.27% Nickel (Ni) from 373.0m – 382.0m downhole located between the Escape South High Grade Zone and the Steepledge North Zone.

  • Hole ELR21-043 intersected 9.0m of 1.37g/t Palladium (Pd), 1.14g/t Platinum (Pt), 0.52% Copper (Cu) and 0.36% Nickel (Ni) from 317.0m – 326.1m downhole located between the Escape South High Grade Zone and the Steepledge North Zone.

The recent discovery of a high-grade massive sulphide lens in the Escape Lake Deposit (Figure 2) and similar material previously discovered in the Current Lake Deposit (Figure 3) are considered to be transported material and exploration vectors to a potential larger source area. A third drill and local crew has now mobilized to the project site and has commenced drilling on the first of six high priority massive sulphide targets on the Thunder Bay North Property (Figure 4). The targets are high conductivity geophysical features identified in basal structural and stratigraphic locations with high potential to host massive sulphide mineralization (Figure 1).  A total of 15,000m in 25-30 holes has now been allocated to testing of the initial six massive sulphide target areas.

The fertility of the Escape Lake magma conduit deposit is well illustrated by the recent mineral resource update, reported on January 20, 2021. The Escape Lake Deposit has an overall Indicated mineral resource of 505,369 ounces at 3.67g/t PdEq in 4,286,220 tonnes and is geologically open along trend. The Current Lake Deposit in turn has an Indicated mineral resource of 1,328,789 oz PdEq at an average grade of 3.44 g/t PdEq in 11,999,177 tonnes (pursuant to the January 20, 2021 NI 43-101 Technical Report and Mineral Resource Estimate for the Thunder Bay North Project, Thunder Bay, Ontario, prepared by Nordmin Engineering Ltd. with QP Glen Kuntz, P.Geo, as posted to SEDAR on March 4, 2021).

Abraham Drost, CEO of Clean Air Metals stated that “the Company confirms the high-level similarities of the magma conduit chonolith system and structural and stratigraphic controls on mineralization at Thunder Bay North with the Talnakh complex, one of the world’s foremost Nickel-Copper-PGM mining camps. Based on the recent resource update and discovery of massive sulphides in the Escape Lake Deposit with favorable metal ratios and the recent completion of a structural analysis and MT geophysical surveys, we are committing to a substantial ramp up of our drilling exploration efforts on multiple bullseye ultra-low resistivity targets at the base of both the Escape Lake and Current Lake magma conduit deposit systems.”

Table 1: New Assay Results Update – Escape Lake Zone, Thunder Bay North

Hole ID

Company

From,
m

To, m

Length,
m

Pt+Pd
(g/t)

Cu+Ni
(%)

Pt
(g/t)

Pd
(g/t)

Cu
(%)

Ni
(%)

ELR21-037

AIR

286

288

2.0

1.29

0.17

0.63

0.67

0.10

0.07

ELR21-037

AIR

294

312

18.0

1.52

0.50

0.68

0.84

0.32

0.18

ELR21-037

AIR

318

322

4.0

1.29

0.44

0.57

0.71

0.21

0.22

ELR21-037

AIR

330

353

23.0

1.65

0.57

0.74

0.91

0.32

0.25

ELR21-037

AIR

357

360

3.0

1.64

0.55

0.73

0.90

0.31

0.24

ELR21-037

AIR

366

370

4.0

1.81

0.56

0.83

0.97

0.35

0.21

ELR21-037

AIR

373

382

9.0

2.75

0.88

1.28

1.47

0.61

0.27

ELR21-039

AIR

297

299

2.0

1.05

0.21

0.45

0.61

0.06

0.14

ELR21-039

AIR

339

341

2.0

1.09

0.39

0.50

0.60

0.19

0.20

ELR21-041

AIR

336.9

337.57

0.7

20.18

7.32

8.63

11.55

4.93

2.39

ELR21-041

**incl

336.9

337.57

0.7

14.38

7.26

6.45

7.93

4.76

2.50

ELR21-041

AIR

341.5

341.8

0.3

16.51

7.45

8.34

8.17

7.15

0.30

ELR21-043

AIR

274

280

6.0

1.16

0.41

0.50

0.66

0.24

0.17

ELR21-043

AIR

296

300

4.0

1.37

0.49

0.63

0.74

0.26

0.23

ELR21-043

AIR

317

326.1

9.1

2.51

0.88

1.14

1.37

0.52

0.36

ELR21-043

AIR

334

336

2.0

1.36

0.41

0.63

0.73

0.23

0.18

ELR21-044A

AIR

318.4

319.9

1.5

2.49

0.68

1.17

1.32

0.46

0.22

ELR21-047

AIR

341.8

346.53

4.7

1.99

0.65

0.90

1.08

0.39

0.26

Note:

1)

All intercepts are estimated to be >95% of true width based on drill hole inclination

2)

Mineralized intervals calculated at 1 ppm Pt+Pd cutoff

**

Previously reported composite assay interval on March 18, 2021 on a Rush basis

COVID Policy

Clean Air Metals has adopted COVID-19 avoidance and personal protection measures for its geological staff, drilling contractor and service suppliers. Personnel are required to maintain physical distance, use Personal Protective Equipment (PPE), self-monitor and self-isolate or elect to work from home. Management had previously eliminated plans for a camp setup to service a planned diamond drill campaign on the Escape Lake Project. The Company is aware of Thunder Bay Health Unit guidelines that provide for “mandatory” self-isolation for returning overseas travel. The guidelines also “strongly recommend” self- monitoring and self-isolation as needed after travel into the Northwest region from other areas of the Province and interprovincially. Mineral Exploration and Development has been deemed an essential service in the Province of Ontario (http://www.netnewsledger.com/2020/03/23/ontario-covid-19-business-allowed-to-remain-open-list-march-23-2020/ ). The Company has procured the services of a locally staffed and serviced diamond drilling contractor to complete the diamond drilling program.

Qualified Person

Mr. Allan MacTavish, P.Geo. a Qualified Person under National Instrument 43-101 and VP, Project Manager of the Company, has reviewed and approved all technical information in this press release.

Social Engagement

Clean Air Metals Inc. and its wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Project is on the traditional territories of the Fort William First Nation, Red Rock First Nation and Biinjitiwabik Zaaging Anishinabek. The parties together are the Cooperating Participants in a Memorandum of Agreement dated January 9, 2021 and the issue of Warrants, reported January 28, 2021.

About Clean Air Metals Inc.

Clean Air Metals’ flagship asset is the 100% owned, high grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the City of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum. The Clean Air Metals project hosts the Current Lake deposit and magma conduit and the Company is actively exploring the Escape Lake deposit, a twin structure to the Current Lake deposit. Executive Chairman Jim Gallagher and CEO Abraham Drost lead an experienced team of geologists and engineers who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development studies. As the former CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in December 2019Jim Gallagher and team are credited with the mine turnaround and creation of significant value for shareholders.

ON BEHALF OF THE BOARD OF DIRECTORS

“Abraham Drost”
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.

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

Cautionary Note

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation, including statements regarding the potential of the Thunder Bay North Project and the Escape Lake and Current Lake deposits and timing of technical studies and mineral resource estimates. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company’s expectations or projection.

SOURCE Clean Air Metals Inc.

For further information: Abraham Drost, Chief Executive Officer of Clean Air Metals Inc., Phone: 807-252-7800, Email: adrost@cleanairmetals.ca, Website: www.cleanairmetals.ca

https://www.cleanairmetals.ca/

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Stratabound Announces Commencement of Trading on U.S. OTCQB Market

Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) (“Stratabound” or the “Company”) is pleased to announce it has qualified for and has commenced trading of its common shares on the OTCQB Venture Market in the United States under the symbol “SBMIF”. The Company’s continued listing on the TSXV under the “SB” symbol is now further enhanced by the visibility and larger global presence through ease of access to U.S. investors.

Mr. R. Kim Tyler, President and CEO of Stratabound, commented, “In response to requests from U.S. investors along with the considerable recent trading volume exceeding 1.8M shares on the U.S. OTC Pink market since July 2020 we were pleased to have taken this important market exposure upgrade. We look forward to more U.S. investor participation in the future of our Company.”

About the OTCQB

OTC Markets Group Inc. operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 11,000 U.S. and global securities. The OTCQB offers early stage and developing U.S. and international companies the benefits of being publicly traded in the U.S. The OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving fair valuation. U.S. investors can find current financial disclosure and Real-Time level 2 quotes for the Company on www.otcmarkets.com.

About Stratabound Minerals Corp.

Stratabound Minerals Corp. is a well-funded Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its new McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.

For more information, please visit the company’s website at www.stratabound.ca or contact: R. Kim Tyler, President and CEO 416-915-4157 info@stratabound.com

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

WARNING: The Company relies upon litigation protection for “forward-looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

info

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Ertruscus: Massive Sulphides in BC’s Golden Triangle?

When a junior exploration company sets out to explore an area it usually has a particular target but it can also find other prospective ground nearby. That’s what happened to Etruscus Resources (ETR.C) with its Rock and Roll project in BC’s Golden Triangle.

“We have not talked a lot about the Sugar area,” said Gordon Lam, CEO of Etruscus in a phone interview.  “We picked it up because it was close to our Rock and Roll project and the early numbers were good.”

When Etruscus was flying VTEM over its principal properties it also managed to cover parts of the Sugar area. “We saw something,” said Lam. “We call it the Hammer area. There are historical good numbers there. We just need to determine the drill co-ordinates and then it will be ready to drill.”

Currently, Etruscus believes that the Sugar project and Hammer area within that project are prospective for copper. “We have samples with over 8% copper. It’s close to Galore Creek (which is one of the largest undeveloped copper/gold projects in the world and is being operated under a joint venture by Teck-Newmont),” said Lam.

The Sugar Project is about 5 kilometers away from Etruscus’ Rock and Roll Project and is helicopter accessible.  In the March 16th press release reporting the Sugar VTEM results and the results from the sampling undertaken at the property, Lam stated, “We’ve been quietly developing Sugar while Rock & Roll has been taking centre stage. But Sugar is likely to become more prominent this year with the Hammer target nearly ready to be drilled while other areas are also demonstrating strong prospectivity for copper-rich mineralization.”

This exploration season which, weather permitting, could start at the end of April, Etruscus hopes to deploy a drill and test the Hammer target. The indications are that there may be massive sulphides which would make this ground very, very valuable. Something else to watch for as Etruscus continues to explore in the Golden Triangle.

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Clean Air Metals hits Norilsk-style Nickel-Copper Massive Sulfides, 350m North of Escape South High Grade Zone

Clean Air Metals Inc. (“Clean Air Metals” or the “Company“) (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) is very pleased to announce new assay results from the drilling campaign at the Escape Lake Deposit currently underway at the Company’s Thunder Bay North Project (the “Project“). Highlights in Table 1 and Figure 1 include:

  • Hole ELR21-041 intersected a massive sulphide horizon grading 7.93g/t Palladium (Pd), 6.41g/t Platinum (Pt), 4.76% Copper (Cu), 2.5% Nickel (Ni), 0.151% Cobalt (Co) over 0.5m from 337.0 – 337.5m downhole. This intercept of “loop-textured” massive sulphides (Figure 2) is located 350m north of the centroid of the Escape South High Grade Zone pod containing 2,351,310 tonnes grading 4.82g/t PdEq (reported January 20, 2021¹) The ppm metal ratios for Cu/Pt+Pd (=3300) and Ni/Pt+Pd (=1740) found in this sample closely match similar metal ratios found in the Norilsk deposits in Russia (Figure 3).
  • Hole ELR20-032 intersected 35.1m of 2.23g/t Palladium (Pd), 1.64g/t Platinum (Pt), 0.80% Copper (Cu) and 0.41% Nickel (Ni) from 379.0 – 414.1m downhole located in the Escape South resource area of the Escape Lake Deposit, drilled in December, 2020 and only partially reported.
  • Hole ELR21-036 intersected 20.3m of 1.21g/t Palladium (Pd), 1.01g/t Platinum (Pt), 0.43% Copper (Cu) and 0.22% Nickel (Ni) from 200.8 – 221.1m downhole located between the Escape South High Grade Zone and the Steepledge North Zone.

Further, Hole CLM20-002 intersected 27m of 3.09g/t Palladium (Pd), 3.09g/t Platinum (Pt), 0.78% Copper (Cu) and 0.50% Nickel (Ni) from 93.1 – 120.0m downhole located in the Bridge Zone area of the Current Lake Deposit, as part of a mini bulk sample drilled with HQ core for bench test flotation metallurgical processing taking place with Blue Coast Research of British Columbia, Canada.

The Company has also recently completed a series of property wide geophysical transects using the magnetotelluric (“MT”) geophysical method. MT uses natural, low frequency electromagnetic currents to map areas of low resistivity and high conductivity in the subsurface. The survey has identified a series of high conductivity features that were not previously recognized. These are being compiled with stratigraphic and structural data into a number of high priority massive sulphide exploration targets in and around both the Escape and Current magma conduit deposit areas.

The inherent fertility of the Escape Lake magma conduit deposit is well illustrated by the recent mineral resource update reported on January 20, 2021 (see Footnote¹). The Escape Lake Deposit has an overall Indicated mineral resource of 505,369 ounces at 3.67g/t PdEq in 4,286,220 tonnes and is geologically open along trend. With the 2020 investment of CAD$4.5 million into 19,000m of drilling at Escape in 2020, the average cost of discovery and compiling historical drill results was approximately $9.00 per Indicated ounce PdEq.

¹ NI 43-101 TECHNICAL REPORT AND MINERAL RESOURCE ESTIMATE FOR THE THUNDER BAY NORTH PROJECT, THUNDER BAY, ONTARIO, effective date January 20, 2021. Posted to SEDAR March 4, 2021. Prepared by Nordmin Engineering Ltd.- QP Glen Kuntz, P.Geo. Ontario

Abraham Drost, CEO of Clean Air Metals stated that “the discovery of Norilsk-style Ni-Cu-Co massive sulphides with substantial Pt and Pd in the Escape Lake Deposit system is a potential game changer for the Company. Early on we recognized the high-level similarities of the magma conduit chonolith system and structural and stratigraphic controls on mineralization at Thunder Bay North with the Talnakh complex at Norilsk, one of the world’s foremost Nickel-Copper-PGM deposits. Based on the new discovery of massive sulphides in the Escape Lake Deposit with favorable metal ratios and the recent completion of a structural analysis and MT geophysical surveys, we are well funded to ramp up our exploration efforts in both the Escape Lake and Current Lake magma conduit deposit systems.”

The Company plans a minimum 30,000m of further delineation drilling at the Escape Lake Deposit at a cost of approximately $6.6 million in 2021. The Current Lake Deposit, itself with an Indicated mineral resource of 1,328,789 oz PdEq at an average grade of 3.44 g/t PdEq in 11,999,177 tonnes (reported January 20, 2021; see Page 1 Footnote¹) will also receive additional $2.2 million budget for approximately 10,000m of drilling to convert Inferred into Indicated in the Beaver Lake Zone area.

A further minimum $1.1 million program of 5000m drilling will be allocated to drilling specific structural/stratigraphic targets both inside and outside the known magma conduit areas, with coincident high conductivity MT geophysical anomalies and high prospectivity for massive sulphide mineralization.

Table 1: New Assay Results Update – Escape Lake Zone, Thunder Bay North

Hole ID

Company

From,
m

To,
m

Length,
m

Pt+Pd
(g/t)

Cu+Ni
(%)

Pt
(g/t)

Pd
(g/t)

Cu
(%)

Ni
(%)

ELR20-032

AIR

379.0

414.1

35.1

3.87

1.21

1.64

2.23

0.80

0.41

**incl

395.1

405.1

9.9

6.50

1.96

2.72

3.77

1.29

0.66

ELR21-035

AIR

169.2

170.9

1.8

2.11

0.24

0.97

1.14

0.16

0.08

ELR21-035

AIR

315.0

333.0

18.0

1.31

0.47

0.60

0.71

0.26

0.21

ELR21-036

AIR

200.8

221.1

20.3

2.22

0.65

1.01

1.21

0.43

0.22

ELR21-038

AIR

289.8

298.7

8.9

1.78

0.58

0.81

0.96

0.39

0.19

ELR21-038

AIR

337.7

339.4

1.7

1.95

0.91

0.88

1.07

0.62

0.29

ELR21-041

AIR

337.0

337.5

0.5

14.34

7.16

6.41

7.93

4.76

2.50

CLM20-001

AIR

149.6

166.4

16.8

4.07

0.71

2.06

2.00

0.48

0.23

incl

163.6

166.4

2.8

11.22

1.65

5.71

5.51

1.23

0.41

CLM20-002

AIR

79.2

83.1

3.8

1.96

0.40

1.00

0.96

0.23

0.17

CLM20-002

AIR

88.1

89.9

1.9

2.10

0.43

1.07

1.03

0.24

0.19

CLM20-002

AIR

93.1

120.0

27.0

6.17

1.29

3.09

3.09

0.78

0.50

incl

98.3

114.5

16.1

8.15

1.69

4.04

4.11

1.03

0.66

CLM20-003

AIR

252.0

255.4

3.4

2.00

0.41

1.04

0.95

0.25

0.15

CLM20-004

AIR

145.1

150.9

5.9

1.26

0.29

0.66

0.60

0.15

0.14

CLM20-004

AIR

155.0

166.0

11.0

9.67

1.60

4.96

4.71

1.09

0.51

incl

156.2

166.0

9.8

10.53

1.73

5.40

5.14

1.18

0.55

CLM20-004

AIR

172.0

174.0

2.0

2.23

0.72

1.12

1.11

0.44

0.28

Note:

1)

All intercepts are estimated to be >95% of true width based on drill hole inclination

2)

Mineralized intervals calculated at 1 ppm Pt+Pd cutoff

**

Previously reported composite assay interval on December 7, 2020 on a Rush basis

COVID Policy

Clean Air Metals has adopted COVID-19 avoidance and personal protection measures for its geological staff, drilling contractor and service suppliers. Personnel are required to maintain physical distance, use Personal Protective Equipment (PPE), self-monitor and self-isolate or elect to work from home. Management had previously eliminated plans for a camp setup to service a planned diamond drill campaign on the Escape Lake Project. The Company is aware of Thunder Bay Health Unit guidelines that provide for “mandatory” self-isolation for returning overseas travel. The guidelines also “strongly recommend” self- monitoring and self-isolation as needed after travel into the Northwest region from other areas of the Province and interprovincially. Mineral Exploration and Development has been deemed an essential service in the Province of Ontario (http://www.netnewsledger.com/2020/03/23/ontario-covid-19-business-allowed-to-remain-open-list-march-23-2020/ ). The Company has procured the services of a locally staffed and serviced diamond drilling contractor to complete the diamond drilling program.

Qualified Person

Mr. Allan MacTavish, P.Geo. a Qualified Person under National Instrument 43-101 and VP, Project Manager of the Company, has reviewed and approved all technical information in this press release.

Social Engagement

Clean Air Metals Inc. and its wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Project is on the traditional territories of the Fort William First Nation, Red Rock First Nation and Biinjitiwabik Zaaging Anishinabek. The parties together are the Cooperating Participants in a Memorandum of Agreement dated January 9, 2021 and the issue of Warrants, reported January 28, 2021.

About Clean Air Metals Inc.

Clean Air Metals’ flagship asset is the 100% owned, high grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the City of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum. The Clean Air Metals project hosts the Current Lake deposit and magma conduit and the Company is actively exploring the Escape Lake deposit, a twin structure to the Current Lake deposit. Executive Chairman Jim Gallagher and CEO Abraham Drost lead an experienced team of geologists and engineers who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development studies. As the former CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in December 2019Jim Gallagher and team are credited with the mine turnaround and creation of significant value for shareholders.

ON BEHALF OF THE BOARD OF DIRECTORS

“Abraham Drost”
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.

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

Cautionary Note

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation, including statements regarding the potential of the Thunder Bay North Project and the Escape Lake and Current Lake deposits and timing of technical studies and mineral resource estimates. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company’s expectations or projection.

SOURCE Clean Air Metals Inc.

For further information: Abraham Drost, Chief Executive Officer of Clean Air Metals Inc., Phone: 807-252-7800, Email: adrost@cleanairmetals.ca, Website: www.cleanairmetals.ca

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Etruscus Samples High-Grade Copper and Silver at Sugar; VTEM Results Suggest Massive Sulphide Source

Etruscus Resources Corp. (CSE: ETR) (OTC: ETRUF) (FSE: ERR) (the “Company” or “Etruscus”) is pleased to announce VTEM© and rock sampling results from the Sugar Property “Hammer” target, just 5 kilometres northwest of the Company’s flagship Rock & Roll Project in the Eskay Camp. The “Hammer” has been upgraded to a well-defined drill target due to its strong geophysical and geochemical signatures.

Hammer Target Highlights:

  • New airborne geophysical survey (VTEM) has identified a 100-m long x 300-m wide magnetic anomaly underlying a historic magnetite skarn showing;
  • Multiple discrete conductors, slightly offset from the mag high and possibly associated with massive sulphides, broaden the area of interest to at least 500 meters;
  • 2020 rock sampling at this historic showing returned high-grade copper results, including 8.3% Cu (grab) and 5.5% Cu (float), with five out of six samples grading over 1.5% Cu;
  • Grab samples also revealed anomalous Au, Ag and Co values.

Other exploration in 2020 at Sugar also returned favorable results including:

  • Skarn trend (Click Here to View Map) extended to 3 km with identification of a new massive sulphide showing;
  • Angular float B0026887 returned 8.2% Zn and 0.3% Cu upstream of any historical showings, indicating more mineralization in unexplored areas;
  • Two samples from a 30-cm wide historic quartz vein that plunges underneath a talus slope returned high copper and silver values. Grab sample B0026713 assayed 5.6% Cu, 225 g/t Ag and 0.4 g/t Au. Float sample B0026774 assayed 2.9% Cu, 483 g/t Ag and 0.7 g/t Au.

The Sugar Property has seen favorable developments in recent years with significant glacial retreat opening up new areas for exploration. Work completed in the past two years has expanded the Company’s geological understanding of the area and has led to the discovery of new zones of copper mineralization. Geological mapping led by Jim Logan, who has over 30 years of B.C. Geological Survey experience in Northwest B.C., also helped identify local stratigraphy and mapped various intrusions at Sugar.  The region immediately surrounding the Sugar Property is seeing improved infrastructure and access, in particularly related to the advancement of Galore Creek, located approximately 24 km north.  One of the largest undeveloped copper, gold, and silver projects in the world, Galore Creek is currently operated under a Teck-Newmont joint venture and is building a road to within 10 km of Sugar.

Grab sampling results indicate the potential for a copper-rich deposit type.  14 of 36 rock samples taken (39%) during 2020 have graded over 0.25% copper (shown below):

Sample #

Easting

Northing

Type

Rock type

Cu %

Ag g/t

B0026814

344898

6304239

Float

Quartz Vein

8.26

45.43

B0026773

339110

6304495

Grab

Quartz Vein

5.62

225.00

B0026754

344966

6304389

Grab

Skarn

5.48

22.05

B0026857

344954

6304384

Grab

Siltstone

3.48

10.54

B0026774

339111

6304505

Float

Quartz Vein

2.96

483.00

B0026753

344922

6304375

Float

M. Magnetite

2.44

8.43

B0026893

344950

6304260

Grab

Skarn

1.58

13.21

B0026888

338383

6306132

Grab

Andesite

0.55

5.95

B0026778

337571

6310667

Grab

M. Sulphide

0.50

1.33

B0026875

338510

6309136

Grab

Felsic dyke

0.31

2.21

B0026887

338552

6306074

Float

Skarn

0.28

1.32

B0026766

338654

6309149

Grab

Siltstone

0.27

0.13

B0026767

338204

6308767

Grab

Quartz Vein

0.27

1.67

B0026802

344799

6304219

Float

Skarn

0.26

1.64

Encouraged by results, the Company is planning further sampling, mapping and prospecting of the area for 2021, focusing on the “Hammer” target, the newly discovered skarn, areas of high copper and other recently unglaciated terrain. Sugar remains mostly unexplored and very prospective for high-grade mineralization.

Gordon Lam, President and CEO of Etruscus, commented, “We’ve been quietly developing Sugar while Rock & Roll has been taking centre stage. But Sugar is likely to become more prominent this year with the Hammer target nearly ready to be drilled while other areas are also demonstrating strong prospectivity for copper-rich mineralization.”

Qualified Person

Technical aspects of this news release have been reviewed and approved by Dr. Dave R. Webb, Ph.D., P.Geo., who is a Qualified Person as defined under National Instrument 43-101.

QA/QC and Analytical Procedures

The Company has adopted a rigorous quality assurance and quality control (“QA/QC”) program to ensure best practices in sampling both diamond drill core and surface rock chip samples of approximately 1 kg in weight. The Company’s samples and drill core are being assayed by MSA LABS which has facilities in Terrance and Langley, BC. and is independent of the Company. All rock samples were crushed to 70% pass 2mm fraction, and then a 250g split was pulverized to better than 85% passed a 75-micros screen. The geochemical analyses were performed by MSA LABS using multi-element aqua-regia digestion ICP-MS package (IMS-111). Gold was analyzed by fire assay technique FAS-114. Higher gold grades (>3 g/t) were analyzed by fire assay. MSA LABS is an independent provider of geochemical laboratory services for the exploration and mining industries is an ISO 17025 (Testing and Calibration) and ISO 9001 (Quality Management System) accredited laboratory. In addition to the lab’s internal QA/QC program, the Company inserted 10% lab certified standards, blanks and field duplicates into the overall sampling stream.

* Grab samples are selectively collected and are therefore not representative of all mineralization hosted on the property.

About Etruscus

Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll and Sugar properties comprising 27,880 hectares near the past producing Snip mine in Northwest B.C.’s prolific Golden Triangle.

Etruscus is traded under the symbol “ETR” on the Canadian Securities Exchange, “ETRUF” on the OTC markets and “ERR” on the Frankfurt Stock Exchange and has 28,514,306 common shares issued and outstanding.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute ‘forward-looking’ statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Etruscus Resources Corp.

For further information: Investor Relations Contact: Derek Wood, Email: dwood@conduitir.com, Telephone: 403-668-7855; Company Contact: Gordon Lam, CEO, Email: info@etruscusresources.com, Telephone: 604-336-9088, Website: www.etruscusresources.com

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Stratabound Reports 3.33% Copper Equivalent over 4.8m True Width Near Surface at Captain Cu-Co-Au-Ag Deposit, Bathurst District, New Brunswick

Highlights:

  • Four more drill holes with high-grade cores within lower-grade lenses.
  • Drill intercepts between 2.12% to 3.33% CuEq(1) across true widths between 4.8m to 8.0m.
  • Best result of 3.33% CuEq(1) over 4.8m true width at 26m below bedrock surface in hole CP-20-47.
  • Results continue to support a case for small-scale, high-grade, direct-shipping mining project to generate near-term cash-flow.
  • Assays pending on three more holes.

Stratabound Minerals Corp. (TSXV: SB) (OTC Pink: SBMIF) (“Stratabound” or the “Company”) reports it has received assay results on five more drill holes completed on its Captain Copper/Cobalt/Gold/Silver Deposit in addition to the six new holes reported previously on February 25, 2021. The zone projects to the bedrock contact lying between 6-9m below surface. One hole was drilled beyond the strike extent of mineralization and was not sampled.

Results reported in this release are detailed in Figures 1 and 2, and in Table 1 below. Drill holes CP-20-40 and CP-20-47 which intercepted 2.67% CuEq(1) over 8.0m true width and 3.33% CuEq(1) over 4.8m true width respectively occur approximately 110m directly up-dip of historic hole CP-08-13 which intercepted 5.53% CuEq(1) over 7.3m true width (Figure 1.) Drill holes CP-20-45 and CP-20-46 were drilled on approximate 45m projected extensions of past drill results at opposite ends of known strike limits. Neither of the holes intercepted significant mineralization.

Mr. R. Kim Tyler, President and CEO of the Company commented, “The results reported today continue to confirm continuous high-grade copper-cobalt-gold-silver mineralization across tight-spaced 10m-wide sections along approximately 120 metres of strike and across an average true width of 8m.. As noted in the previous release, the Captain Deposit’s high grades, road access, close proximity to a rail head, and the deep-water port at Belledune near Bathurst, New Brunswick make for a very attractive direct-ship cash-generating opportunity.”

The Captain Deposit is open at depth below the deepest intersection to date at 360m vertical depth of 5.46% Cu, 0.093% Co, 0.30 g/t Au and 30.5 g/t Ag for a 12.20% CuEq(1) over 2m down-hole in hole CP-09-23 .

As noted in the previous press release, the Company is investigating the opportunity for a small-scale, high-grade, direct-shipping mining project to generate near-term cash-flow. The Captain Deposit is strategically located 100km by road to the deep-water port of Belledune near Bathurst, New Brunswick and 40km by road to the nearest railroad.

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(1) CuEq% based on CuEq%= ((Cu lb/t*US$3.75.lb) +(Co lbs/t*US$20/lb) +(Au g/t*0.03215*US$1,750/oz) +(g/t Ag*0.03215*US$25/oz))/US$3.75/lb Cu insitu value and does not account for metallurgical, refining or other losses.
Table 1

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/4064/76567_strata-orig.JPG

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Figure 1. Section 070N: All widths posted are true widths.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4064/76567_0a922fb9a4ae4a3d_003full.jpg

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Figure 2. Recent and historic drill results within 20m of surface. All widths posted are true widths

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4064/76567_0a922fb9a4ae4a3d_004full.jpg

About the Captain Deposit

The Captain Deposit hosts an NI 43-101 Measured and Indicated Resource totaling 448,000 tonnes averaging 1.75% Cu, 0.046% Co, and 0.30 g/t Au for a 2.2% CuEq%(1), plus an inferred resource of 162,000 tonnes averaging 1.47% Cu, 0.04% Co and 0.24 g/t Au for a 1.87% CuEq%(1), (“Technical Report on an Updated Mineral Resource Estimate, Stratabound Minerals Corp. Captain Cu-Co Deposit”; Mercator Geological Services Limited, Dec. 8, 2010). The Deposit is located along the “Brunswick Horizon”, within a 20km radius and the same stratigraphic contact that hosts the world-class Glencore Brunswick No.12 and No.6 mines with past production totaling an aggregate 149.4 million tons of 8.72% zinc, 3.3% lead, 0.35% copper and 99 g/t silver,(2) (Figure 3.) The Captain is a volcanic massive sulphide, or VMS-type deposit, similar to the above described deposits. (2) (source: Government of New Brunswick DNR Mineral Occurrence Database).

Drilling on the Captain Deposit now totals 10,452m over 53 holes across 120m of strike and is open beyond the deepest intersection to date at 359m yielding 1.12% Cu over a down-hole length of 19.5m including a 2m interval of 5.46% Cu, 0.093% Co, 0.30 g/t Au and 30.5 g/t Ag in hole CP-09-23.

Quality Assurance/Quality Control

The core samples referenced in this press release were marked and cut by diamond saw whereby half the sample was bagged and hand-delivered by Stratabound personnel to a secure carrier and transported to the Activation Laboratories (Actlabs) preparation lab in Fredericton, New Brunswick. The remaining half-core is stored at the Madran core facility in Madran, NB.

Actlabs prepared the samples by crushing to 80% less than 10 mesh. A riffle split of 250 grams was then taken and pulverized to a 95% passing 200 mesh pulp sub-sample. The pulps were then shipped by Actlabs to its Ancaster, Ontario laboratory for copper, cobalt, gold and multi-element analyses. A 4-acid near-total digestion ICP-MS 42-element analysis was performed on all samples and a duplicate 4-acid digestion ICP-OES procedure performed where values exceeded 350ppm for cobalt and 5,000ppm for copper in the original digestion. Gold was determined separately by the 1A2 standard fire assay procedure with an atomic absorption (AA) finish on a 30-gram sub-sample taken from the 250-gram split. If the gold result exceeded 5 g/t a duplicate sample was processed by method 1A3-30.

Actlabs uses a procedure of standards, blanks and duplicates inserted into the sample stream results. Actlabs is an independent internationally recognized and ISO/IEC 17025:2017 accredited chemical analysis company.

In addition to the quality assurance and quality control program performed by Actlabs, Stratabound personnel insert lab-certified standards and field blanks into the sample stream, as well as sample duplicates, at the rate of one QA/QC sample for every 7 core samples.

About Stratabound Minerals Corp.

Stratabound Minerals Corp. is a fully-funded Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.

Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a “Qualified Person” for the purpose of NI 43-101, has reviewed and approved the contents of this news release.

For more information please visit the company’s website at www.stratabound.ca or contact: R. Kim Tyler, President and CEO 416-915-4157 info@stratabound.com

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

WARNING: The Company relies upon litigation protection for “forward looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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GR Silver Mining Drills High-Grade Near Surface Mineralization in the San Juan Area at Plomosas:

5.7 m @ 611 g/t Ag, 0.5 % Pb and 1.7 % Zn (685 g/t AgEq1), including
1.7 m @ 1,762 g/t Ag, 1.3 % Pb and 4.9 % Zn (1,967 g/t AgEq), and including
0.7 m @ 3,755 g/t Ag, 2.5 % Pb and 9.7 % Zn (4,145 g/t AgEq)

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report results from the Company’s current drilling program, demonstrating near surface high-grade silver mineralization in the San Juan Area at the Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

The surface drill hole SJS21-02 is part of the 2021 resource delineation drilling program being undertaken at the San Juan Area. Wide, high-grade silver mineralization was intercepted 55 m below surface and extends the known mineralized zone at shallow depth. Additional historical holes in the vicinity of SJS21-02 are also reported in this news release. These holes represent infill drilling data and are part of the Company’s validation process of historical drill holes (Figure 1).

___________________________________
1 AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu.

Drilling and 3D wireframe modelling of the mineralization is ongoing, with the incorporation of this new data advancing the San Juan Area towards the completion of a maiden resource estimate.

GR Silver Mining President and CEO, Marcio Fonseca, commented, The epithermal system in the San Juan Area of the Plomosas Project is showing evidence of being predominantly mineralized with silver. The Company continues to encounter a series of mineralized intersections close to surface, representing a target area with the potential for a future shallow underground mine development. As a result, we have been encouraged to continue surface drilling in 2021 on extensions to the existing veins that make up a 2 km long mineralized system at the San Juan Area.”

The following table (Table 1) shows drill results from this News Release that are expected to be included in the upcoming resource estimation for the San Juan Area.

Table 1: Surface Drill Hole Assay Results – News Release March 4, 2021

Hole No.

From
(m)

To
(m)

Drilled
width
(m)

Ag g/t

Au g/t

Pb %

Zn %

Cu %

 AgEq
   g/t

SJS21-02

55.2

60.9

5.7

611

0.04

0.5

1.7

0.1

685

Includes

includes

55.2

56.9

1.7

1,762

0.10

1.3

4.9

0.2

1,967

55.2

55.9

0.7

3,755

0.03

2.5

9.7

0.5

4,145

LRD-21

61.2

69.1

7.9

96

0.01

0.5

1.7

0.1

119

LRD-26

30.4

32.0

1.6

404

0.01

0.5

1.7

  na

469

LRD-73

152.1

153.8

1.7

79

0.01

0.4

1.2

  na

131

LRD-81

200.2

203.3

3.1

209

0.01

0.5

0.9

  na

252

SJS-12

325.0

325.8

0.8

112

0.01

  na

  na

  na

117

SJS-15

346.4

350.2

3.8

66

0.01

0.1

0.1

0.1

73

SJS18-12

210.1

212.5

2.4

55

0.10

0.4

1.0

0.1

105

As final interpretation of the 3D orientation of mineralization is incomplete, true widths are unknown at this time and are reported as drilled widths. AgEq is based on long term gold, silver, zinc, lead and copper prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc, US$0.95 per pound lead and US$2.00 per pound copper. The metallurgical recoveries are assumed as 90% Ag, 95% Au, 78% Pb, 70% Zn and 70% Cu. All numbers are rounded. Results are uncut and undiluted. “na” = no relevant assays

The following table (Table 2) summarizes the collar locations for drill holes reported in this News Release.

Table 2: Drill Hole Locations – News Release March 4, 2021

Hole No.

East (m)

North (m)

RL (m)

Dip (˚)

Azimuth
(˚)

Depth
(m)

SJS21-02

448373

2550637

983

-75

220

251.6

LRD-21

448219

2550601

887

-90

0

102.0

LRD-26

448205

2550567

879

-90

0

37.4

LRD-73

448309

2550596

940

-90

0

172.3

LRD-81

448361

2550615

967

-80

261

212.3

SJS-12

448383

2550710

1020

-90

0

377.4

SJS-15

448516

2550759

983

-75

227

360.4

SJS18-12

448465

2550786

1010

-90

0

397.6

 All numbers are rounded. Red drill holes are drilled by GRSL; East (m) and North (m) are UTM coordinates in WGS84, zone 13.

The Ag-rich mineralization is mainly hosted within a quartz cemented hydrothermal breccia, with common presence of sphalerite, galena and acanthite-rich veinlets. Chloritization is the predominant alteration style, with lesser silicification (see Core Photos Link).

The presence of high-grade Ag-rich epithermal veins near surface at San Juan, highlights the potential opportunity for modelling of highly mineralized zones for future underground development. The expansion of the mineralization footprint along strike remains conceptual in nature, however the Company’s recent drill results are providing strong support for an extensive mineralized corridor.

GR Silver Mining believes that Plomosas represents a district-scale project. The Company is carrying out a 11,900 m diamond core drilling program and plans to complete a resource estimation in two areas (Plomosas and San Juan) in the second quarter of 2021. Work to date has resulted in the  successful expansion of the known zones of mineralization within these two areas. The Plomosas Mine Area displays evidence of a 600 m long epithermal system, potentially extending up to 1.2 km, whereby multiple veins and discoveries have defined a much larger high-grade Ag and Au mineralized footprint. Through surface exploration and drilling, the San Juan Area, initially thought to consist of only one 400 m long epithermal vein, now appears as a 2 km long epithermal system, with at least six epithermal veins.

The Plomosas Mine Area and San Juan Area represent two areas at resource estimation stage.  Both areas have a geological footprint similar to the nearby San Marcial Project, where the company has estimated a NI 43-101 resource of 29 million ounces Ag (Indicated) and 10 million ounces Ag (Inferred). The San Marcial NI 43-101 resource represents the initial 500 m long structural corridor, which is part of a larger 6 km trend under exploration within the San Marcial Project.

The integration of the Plomosas Project and the San Marcial Project, together with concessions under acquisition located between them, provides the company full control of all of the major structural corridors on the eastern edge of the Rosario Mining District (Figure 2). During 2021, GR Silver Mining continues to explore new mineralized zones close to surface within these exploration concessions, providing potential for additional resource growth.

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 Company has implemented QA/QC procedures which include insertion of blank, duplicate 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 Ag >100 ppm (over limits), these samples are submitted directly by SGS de Mexico to SGS Canada Inc at Burnaby, BC. 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.

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. Lead 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 a 600 tpd crush milling flotation circuit from 1986 to 2001, producing approximately 8 million ounces of silver, 73 million pounds of lead and 28 million pounds of zinc.

The Project has an 8,515-hectare property position and is strategically located within 5 km of the Company’s San Marcial Silver Project in the southeast of Sinaloa State, Mexico.

The March 2020 acquisition of the Plomosas Silver Project included 563 historical and recent drill holes from both surface and underground locations. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future.

The Company is carrying out a drilling program with surface holes focused on expanding known mineralization along strike in two initial areas, the Plomosas Mine Area and the San Juan Area. Underground drilling included in the program will target the extension of recent Au rich discoveries at the lowest level (775 m RL, or ~250 m below surface) of the Plomosas Mine Area and six low sulphidation epithermal veins at San Juan Area. Both areas will be the subject of NI 43-101 resource estimations following completion of this drill program.

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$30 million of previous capital investments. The previous owners invested approximately US$18 million in exploration, including extensive geophysics and geochemistry programs.

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 remain under-explored.

In addition to the resource potential at Plomosas, a review of the existing drill hole database, geophysical surveys and geochemical data covering most of the concession, has defined 16 new exploration targets from which 11 have high priority for future exploration programs.

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project, which contains a 36 Moz AgEq (Indicated) and 11 Moz AgEq (Inferred) NI 43-101 resource estimate. The Company has filed a National Instrument 43-101 (“NI 43-101”) report entitled “San Marcial Project Resource Estimation and Technical Report, Sinaloa, Mexico” having an effective date of March 18, 2019 and an amended date of June 10, 2020 (the “Report”). The Report was prepared by Todd McCracken and Marcelo Filipov of WSP Canada Inc. and is available on SEDAR. The company recently completed over 320 m of underground development in the San Marcial Resource Area, from which underground drilling is planned to expand the high-grade portions of the resource down dip. The Company recently discovered additional mineralization in the footwall, outside of the existing resource, and will also be drilling this area. GR Silver Mining is the first company to conduct exploration at San Marcial in over 10 years.

Recent exploration has identified silver and gold mineralization in areas previously defined as non-mineralized, discovering evidence of pervasively altered rocks with intense silicification, veining and associated wide, silver and gold mineralized zones on the footwall of the NI 43-101 resource.

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. The recently announced Share Purchase Agreement (see News Release February 1, 2021), to acquire Marlin Gold Mining Ltd., consolidates the business strategy to control the most important silver and gold assets in the multi-million ounce historic Rosario Mining District. The acquisition is expected to close on March 31, 2021, when GR Silver Mining will control a concession portfolio of over 1,000 km2, two previously producing mines fully permitted for future developments and a total combined 75 km of structures with field evidence of 24 Ag-Au veins in historic old workings.

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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