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GR Silver Mining Reports Drill Results at the Plomosas Silver Project Significant Near Surface Intervals, Including: 5.1 m @ 19.2 g/t Au and 18.0 m @ 554 g/t AgEq

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to announce drill results from the Company’s recently announced surface core drilling program in the Plomosas Mine Area as well as results from the ongoing validation of historic drilling at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

The initial two drill holes completed and released are in the Plomosas Mine Area, targeting  expansion of the mineralization footprint along strike, and confirmation of attractive near surface mineralized zones. The results received confirm the presence of wide, shallow or near surface silver-gold-lead-zinc (polymetallic) veins and hydrothermal breccias. Our ongoing review and validation of historic data on the same sections indicates high grade silver and gold mineralization in low sulphidation epithermal veins outside of the polymetallic silver rich hydrothermal breccia zone. The drilling currently in progress has validated recent geological modelling, confirming near surface zones of wide Ag-Au-Zn-Pb mineralization. Recent access to historic workings near the area being drilled by the Company, together with historic and recently completed drill holes, is being integrated into a 3D model to support the expansion and potential delineation of near surface resources.

The drilling completed to date, together with recently announced results, has delineated a 700 m long mineralized system (Figure 1), consisting of multiple veins. It demonstrates the presence of, not only the polymetallic Pb-Zn-Ag rich hydrothermal breccia hosted on the N-S oriented low angle Plomosas Fault, but also a series of high angle, low sulphidation vein and stockwork systems, commonly on the hanging wall or cross cut by the former hydrothermal breccias.

The mineralized zones reported in this news release represent multiple mineralization styles,  including wide, polymetallic Pb-Zn-Ag rich hydrothermal breccias, high grade Au in low sulphidation veins/stockworks and narrow high grade Ag low sulphidation veins. The definition of wide zones, or high grade zones close to the surface, represents a new opportunity for future shallow drilling along strike, aiding potential resource definition.

GR Silver Mining President and CEO, Marcio Fonseca, commented, “First assay results have now been received from GR Silver Mining’s own drilling program at Plomosas. We continue to encounter evidence of a large hydrothermal system at the Plomosas Mine Area with the identification of wide mineralized intervals or high grade zones representing mulltiple mineralization styles and events. Our 3D integration of the recent and historic drilling data has proved valuable in defining the Pb-Zn-Ag mineralized zones, as well as the discovery of several attractive near surface Ag-Au-Pb-Zn zones. The recent recommissioned access to the Plomosas underground mine, together with surface access provide a unique opportunity to guide our surface and underground drilling program in the upcoming months, aiming at further discoveries and delineation of a resource in the area.”

GR Silver Mining is currently advancing its surface drilling program on the two areas marked on Figure 1. The Company recently completed the integration of a previous ground geophysical survey (IP) in the area and has advanced its program of underground mapping and sampling.

The initial 4,500 m surface core drilling program is expected to continue through 2020 and has a dual focus: shallow drilling (up to 150 m below surface) to expand the known mineralized zones along strike at the Plomosas Mine and San Juan-La Colorada Areas, and follow-up drilling on several new high-grade Au-Ag low sulphidation epithermal vein occurrences at Yecora and El Saltito (see news release dated July 15, 2020).

The planned  drill sites on the Plomosas Project are located in the Plomosas Mine Area and San Juan Trend areas where historic drilling was completed by previous owners, however GR Silver Mining have outlined un-drilled areas with additional multiple epithermal veins along strike and at shallow depth.

In addition to drill testing the areas with historic drill holes at the Plomosas Project, the Company will also commence initial reconnaissance and surface exploration on 11 priority targets identified as displaying potential for new discoveries.

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

Table 1: Summary Surface Drill Hole Results – News Release September 16, 2020 (Plomosas Mine Area)

SURFACE DRILLING PROGRAM 2020

Hole No.

From
(m)

To
(m)

Drilled
width
(m)

Est.
true
width
(m)

Ag
g/t

Au
g/t

Pb
%

Zn
%

AgEq
g/t

PLS20-01

8.0

16.5

8.5

6.0

85

0.4

1.1

0.6

177

includes

11.5

15.0

3.5

2.5

172

0.9

2.7

1.4

387

PLS20-02

72.4

98.1

25.7

22.3

48

0.1

0.3

0.6

85

101.0

149.0

48.0

41.6

na

na

0.1

0.5

includes

139.0

146.9

7.9

6.8

na

na

0.4

1.4

HISTORIC DRILLING DATA

Hole No.

From
(m)

To
(m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Au g/t

Pb %

Zn %

AgEq
g/t

PLS-3

74.2

88.3

14.1

12.2

46

na

0.1

0.2

55

98.8

103.9

5.1

4.4

16

19.2

0.1

0.1

1,986

PLS-6

77.5

80.7

3.2

3.2

74

0.2

0.2

0.3

87

237

136.8

145.8

9.0

4.5

na

na

0.4

1.0

241

51.0

51.7

0.8

0.6

163

0.3

0.6

0.7

232

251

58.0

59.1

1.1

06

136

na

0.9

1.1

251

119.3

123.7

4.4

2.5

na

1.8

0.1

na

261

206.5

226.5

20.0

15.3

na

1.2

na

na

268

163.0

168.9

5.9

4.5

73

0.3

0.2

0.4

127

315

21.0

39.0

18.0

16.9

321

0.9

2.7

1.9

554

318

36.0

50.0

14.0

9.0

30

1.7

1.3

2.0

318

PSD-1

77.8

101.5

23.7

20.5

81

na

na

na

PSD-2

75.0

88.7

13.7

11.9

44

na

0.1

0.3

93.6

100.8

7.2

6.2

na

na

0.3

1.0

121.7

132.6

10.9

9.4

na

0.3

0.2

1.1

PSD-3

95.1

108.0

12.9

11.2

na

na

0.4

0.5

PSD-5

84.3

91.3

7.0

7.0

32

na

na

na

PSD-7

63.3

65.6

2.4

2.2

83

na

na

na

75.5

96.6

21.0

19.3

27

na

na

na

109.7

125.0

15.3

14.0

na

na

0.2

0.4

PSD-11

89.3

103.3

14.0

13.8

37

na

na

na

SD-83

61.3

66.7

5.5

5.2

18

na

0.1

0.2

*

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

The drill holes in this news release were generated by a core drilling campaign initiated by the Company in Q3/2020 (PLS20-01 and PLS20-02), and historical drill holes completed by Grupo Mexico. Neither of the drill sets were previously released.

The area being drilled has a series of outcrops representing quartz stockwork veining and locally hydrothermal breccias hosted in a Tertiary volcanic bimodal andesitic-rhyolitic sequence commonly intruded by rhyolitic dykes. Structurally, the area is marked by a series of high angle NW trending faults which are commonly intersecting the N-S low angle Plomosas Fault, a common host structure for Ag-Au-Pb-Zn polymetallic hydrothermal breccias (link to cross section 1 , link to cross section 2). Alteration is mainly represented by a propylitic assemblage containing chlorite-epidote-quartz-pyrite and abundant specular hematite. Locally on surface, argillic alteration halos and large oxidized zones are observed, a result of previous accumulation of pyrite and other sulphides. The polymetallic mineralization is mainly represented by fine galena and sphalerite, common hematite-quartz cemented hydrothermal breccias and filling veins. Late stage quartz Ag-Au epithermal veining is commonly observed overprinting Ag-Pb-Zn mineralization in the hydrothermal breccias.

Table 2 lists the drill hole intervals previously not sampled (“NS”) for this group of released holes. The Company continues to investigate previous unsampled intervals for evidence of mineralization in the core that warrants additional sampling and assaying.

Additionally, Table 3 provides collar coordinates for the drill holes presented in this news release.

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

Hole No.

From-To (m)

Sampling

PLS-3

0.00 m to 74.2m

NS

PLS-6

0.00 m to 59.1 m

NS

237

0.00 m to 18.95 m

NS

241

0.00 m to 18.05 m

NS

251

0.00 m to 24.35 m

NS

261

0.00 m to 152.15 m

NS

268

0.00 m to 99.45 m

NS

PSD-11

0.00 m to 89.3 m

NS

SD-83

0.00 m to 61.3 m

NS

All numbers are rounded. NS – Core not assayed

Table 3: Drill Hole Locations – News Release September 16, 2020 (Plomosas Mine Area)

Hole No.

East (m)

North (m)

RL (m)

Azimuth

Dip

Depth (m)

PLS20-01

451,586

2,552,252

940

270

-60

150.85

PLS20-02

451,486

2,551,539

986

0

-90

165.0

PLS-3

451,490

2,551,532

977

0

-90

105.85

PLS-6

451,490

2,551,532

977

90

-70

169.6

237

451,483

2,552,240

958

330

-65

201.2

241

451,502

2,552,207

959

308

-70

85.3

251

451,484

2,552,184

975

308

-60

160.25

261

451,404

2,552,189

1,010

308

-67

291.9

268

451,418

2,552,210

1,005

308

-70

255.05

315

451,282

2,552,218

795

45

-90

84.3

318

451,282

2,552,218

795

326

-53

71.65

PSD-1

451,474

2,551,541

980

270

-81

145.5

PSD-2

451,474

2,551,541

980

90

-86

260.15

PSD-3

451,477

2,551,538

980

90

-71

251.7

PSD-5

451,477

2,551,538

980

53

-50

214.0

PSD-7

451,477

2,551,538

979

53

-80

131.8

PSD-11

451,431

2,551,511

977

55

-70

379.85

SD-83

451,488

2,551,509

985

55

-80

316.2

All numbers are rounded.

The Company believes that the Plomosas Mine Area is part of a much larger low sulphidation epithermal system as indicated by field evidence along 1.0 km of strike length, where only 400 m of that strike had previously been drilled. This represents an opportunity for the Company’s current surface drilling program to continue discovering new mineralized zones close to the surface.

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 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. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission Spectrometry. GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay protocols and at this stage is considering the information historic for news release purposes.

About GR Silver Mining Ltd.

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

PLOMOSAS SILVER PROJECT

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

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

The silver and gold mineralization on this Project display the alteration, textures, mineralogy and deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of the mineralization and extensions for the main N-S Plomosas fault remains under-explored. The Plomosas Silver Project has more than 500 recent and historical drill holes in six areas – Plomosas Mine, San JuanLa ColoradaYecoraSan Francisco and El Saltito. These drill holes represent an extensive database allowing the Company to advance towards resource estimation and potential project development in the near future. In August 2020, GR Silver Mining commenced its drilling program in the area to investigate extensions to known mineralization and to guide new discoveries, part of a planned resource estimation in 2021.

SAN MARCIAL PROJECT

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

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

OTHER PROJECTS

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

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

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

Disclaimer for Forward-Looking Information

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

SOURCE GR Silver Mining Ltd.

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

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Tocvan Announces The Initiation of Drill Permitting; And theInitiation of CSAMT Survey, at the Pilar Gold-Silver Project in Sonora, Mexico

Tocvan Ventures Corp. (CSE: “TOC“) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce the initiation of drill permitting, and the initiation of controlled source audio-magnetotellurics (CSAMT).

Epithermal gold deposits are highly variable in form, ranging from thin quartz veins to large structures or a concentrated collection of veins, feeder structures and other structures, consequently, they exhibit a wide range of geophysical signatures.

The recent IP and Magnetics survey revealed significant structures reaching depths of up to 350m (see Press Release dated August 25, 2020). Structural and geophysical analyses are wrapping-up by the pertinent experts, but those initial findings have given us the excitement and encouragement to execute a CSAMT survey. This survey is currently underway and is expected to wrap-up by September 21.

Controlled source audio-magnetotellurics (CSAMT) is one of the best methods to find the plumbing and feeder structures to epithermal vein systems by mapping resistive and conductive features at depths ranging from surface to over 700m depth. Resistivity imaging often indicates gold-bearing silicification related to vein systems, these resistive features are prime structural locations for epithermal vein development and are commonly detectable by magnetotelluric methods.

Drill targets are being defined and refined for an estimated 3,000m initial program focussed on expanding and confirming the known area of mineralization in the Main and North Hill zones. Drill permitting has begun as well as the sourcing of drill operators for the Pilar project. Despite the impact of the current world health crisis and subsequent Mexican government ordered work shutdown this past April and into May, planned completion of drilling is anticipated in early Q1 2021.

Derek Wood, CEO, commented “I am extremely pleased with the progress Tocvan Ventures has made in just over 18 months from completing it’s initial public offering. Tocvan negotiated and agreement with Colibri Resources Corp CBI-V less then one year ago. Since then the company has managed to de risk the project to a drill ready stage, while discovering new targets at surface and below areas of known mineralization. Recently Tocvan had over 90% of IPO warrants exercised and now has ample funds to begin drilling as soon as possible while maintaining an attractive capital structure with approximately 23 million shares issued and outstanding.”

Special Note:

The current world health situation requires adjustments to work programs, health and safety is considered first.

Current health advice is for families and groups to self-isolate and to use caution with suggested recommendations from health leaders when social-distancing becomes a challenge. Countries are beginning to allow businesses to operate again. Isolation is an inherent part of mineral development programs.

About the Pilar Property

The Pilar Gold-Silver property has been identified as a structurally controlled low-sulphidation epithermal project hosted in Andesite and Rhyolite rocks. Hydrothermal fluids carrying gold, silver and other minerals are transported through the pre-existing structures and deposit out of the fluids and become emplaced within the structures and surrounding host rock. Three zones of mineralization have been identified in the north-west part of the property from historic surface work and drilling and are referred to as the Main Zone, North Hill and 4 Trench. Structural features and zones of mineralization within the structures follow an overall NW-SE trend of mineralization. Over 17,700m of drilling have been completed to date. Significant results are highlighted below from previous operators:

  • – 17,700m of Core & RC drilling. Highlights include (all lengths are drilled thicknesses):
    • – 0.73g/t Au over 40m

      – 0.75g/t Au over 61m

      – 17.3g/t Au over 1.5m

      – 5.27g/t Au over 3m

      – 53.47g/t Au & 53.4g/t Ag over 16m

      – 9.64g/t Au over 13m

      – 10.6g/t Au & 37.8g/t Ag over 9m

    – 2,650m of surface and trench channel sampling. Highlights include:

    • – 55g/t Au over 3m

      – 28.6g/t Au over 6m

      – 3.39 g/t Au over 50m

    – Soil sampling results from undrilled areas indicating mineralization extends towards the southeast from the Main Zone, North Hill Zone, and 4-Trench Zone

Additional areas of mineralization have been identified resulting from surface rock-grab-sample assay results that extend known mineralized trends and show a second NW-SE trend of mineralization to the east parallel to the trending zone described above; gold-silver mineralization is indicated across the property from the north to the south, see press release dated January 7, 2020. Significant results from that particular survey are highlighted below:

Sample #Au g/tAg g/tCu %Pb %
PILAR-MTS-020.914.30.2610.003
PILAR-MTS-031.35.40.3380.002
PILAR-MTS-050.812.70.1290.002
PILAR-MTS-063.28.30.3500.001
PILAR-MTS-090.22.21.2550.005
PILAR-MTS-100.917.20.7340.010
PILAR-MTS-113.857.40.8460.005
PILAR-MTS-120.05.61.9100.001
PILAR-MTS-130.012.90.9460.001
PILAR-MTS-140.13.31.4000.001
PILAR-MTS-190.81.70.0130.008
PILAR-MTS-205.684.20.0881.710
PILAR-MTS-210.720.30.0270.185
PILAR-MTS-229.376.40.1202.150
PILAR-MTS-250.5323.00.0160.242
PILAR-MTS-261.42.40.0020.013
PILAR-MTS-272.214.70.0120.259
PILAR-MTS-294.3172.00.0861.125
PILAR-MTS-3023.7116.00.0890.040
PILAR-MTS-334.444.50.1090.036
PILAR-MTS-347.541.90.0440.022
PILAR-MTS-352.23.50.1790.008

The technical information in this news release pertaining to geological data and its interpretation has been prepared by Mark T. Smethurst, P.Geo., COO, Director of the Company, and a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration mining company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan Ventures Currently has approximately 23 million shares outstanding and is earning into two exiting opportunities. The Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia, Management feels both projects represent tremendous opportunity.

Cautionary Statement Regarding Forward Looking Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

FOR FURTHER INFORMATION, PLEASE CONTACT:

TOCVAN VENTURES CORP.

Derek A. Wood, President and CEO

Suite 1150 Iveagh House,

707 – 7th Avenue SW

Calgary, Alberta T2P 3H6

Telephone: (403) 200-3569

Email: dwood@tocvan.ca

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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Tocvan Announces the Grant of 500,000 Stock Options

Tocvan Ventures Corp. (CSE: “TOC”) (CNSX:TOC.CN) (“Tocvan” or the “Corporation”) is pleased to announce the grant of 500,000 stock options to directors, officers, consultants, and employees pursuant to the terms and conditions of the Corporation’s stock option plan. The stock options are exercisable at $0.35 per share and shall expire 5 years from the date of grant.

About Tocvan Ventures Corp.

Tocvan is a well-structured exploration mining company. Tocvan was created in order to take advantage of the prolonged downturn the junior mining exploration sector, by identifying and negotiating interest in opportunities where management feels they can build upon previous success. Tocvan Ventures Currently has approximately 17.7 million shares outstanding and is earning into two exiting opportunities. The Pilar Gold project in the Sonora state of Mexico and the Rogers Creek project in Southern British Columbia, Management feels both projects represent tremendous opportunity.

Cautionary Statement Regarding Forward Looking Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information in this news release includes statements regarding the use of proceeds from the Offering. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

FOR FURTHER INFORMATION, PLEASE CONTACT:

TOCVAN VENTURES CORP.

Derek A. Wood, President and CEO

Suite 1150 Iveagh House,

707 – 7th Avenue SW

Calgary, Alberta T2P 3H6

Telephone: (403) 200-3569

Email: dwood@tocvan.ca

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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GR Silver Mining Reports AGM Results and Election of New Directors

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) –  reports the results of its annual general meeting of shareholders held on September 11, 2020 in Vancouver, British Columbia.  All the motions presented to the shareholders were approved.  Each of the six nominees proposed as Directors and listed in the Company’s Management Information Circular dated August 7, 2020 were elected as Directors.

GR Silver Mining welcomes Jonathan Rubenstein and Laura Diaz to its Board of Directors.

Mr. Rubenstein practiced law for 18 years and held a number of mining director positions during that time. In 1994, he became a full time mining executive and mining director. He has served on numerous mining company boards during the last 40 years and was actively engaged in the strategic, commercial, governance and government relations aspects of permitting, property acquisition, exploration, development and operations for these companies. He has negotiated and completed property acquisitions, joint ventures, development agreements, financings and takeover bid transactions, for both major and junior companies and has dealt with foreign and Canadian domestic regulators, banks, and financial institutions, as well as the mining investment community. He has had active roles in dealings with local populations, in compensation matters, in the management of litigation and arbitrations, and in regulatory compliance. He was directly involved in negotiating or supervising acquisitions, mergers and takeover transactions totalling in excess of $5 Billion.

Ms. Diaz, a lawyer, in Mexico City, Mexico, and serves as a Mining Project Advisor in the areas of production, exploration and development. She is a well renowned lawyer, expert in corporate commercial and mining law in Mexico. Ms. Diaz has served in the mining and exploration industry for over 25 years as Legal Counsel to several Canadian/US public companies. She served as an Independent Director of Marlin Gold Mining Ltd. (formerly Oro Mining Ltd) and of Magna Gold Corp. Ms. Diaz was also an Independent Director of the Company from March 2013 – November 2018. Thereafter, Ms. Diaz held the position of General Director of Mines, within the Ministry of the Economy (Mexico) (December 2018 to June 2019).

The Company would also like to extend its sincere thanks and best wishes to Heye Daun and Alan Friedman who did not stand for re-election due to other commitments. Mr. Daun and Friedman were Directors since May 2018.

The Company also announces that, pursuant to the Company’s 10% rolling stock option plan and in compliance with the policies of the TSX Venture Exchange, it has granted incentive stock options to certain directors, officers, consultants and employees of the Company to purchase up to an aggregate of 1,145,000 common shares of the Company. These options are exercisable for a period of 5 years at a price of $0.78 per share.

About GR Silver Mining Ltd.

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

PLOMOSAS SILVER PROJECT

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

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

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

SAN MARCIAL PROJECT

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

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

OTHER PROJECTS

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

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

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

Disclaimer for Forward-Looking Information

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

SOURCE GR Silver Mining Ltd.

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

Related Links

http://www.grsilvermining.com/

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GR Silver Mining AGM Update

GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) –  will hold its annual general  meeting (the “Meeting“) of shareholders of the Company (“Shareholders“) on September 11, 2020 at 10:00 a.m. (PST). Electronic copies of all materials related to the Meeting can be found on the Company’s profile on the System for Electronic Document Analysis and Retrieval (“SEDAR”).

The Meeting will be held at the offices of the Company. However, due to health concerns relating to the novel coronavirus pandemic and to comply with government and public health directives, the Company is urging all Shareholders to vote by proxy in advance of the Meeting and is discouraging physical attendance in person at the Meeting. The Meeting will not be open to the general public and will be limited to registered Shareholders and duly appointed proxyholders only. Shareholders who wish to access and ask questions at the Meeting can do so by phone or audio-only webcast using the details provided below. An audio replay of the Meeting will also be available until October 13, 2020.

Zoom Meeting  

Register in advance for this meeting:

https://zoom.us/meeting/register/tJ0tf-mgrTsuGNJp6QyP0TlrIvBVKZCE7VIT 

After registering, you will receive a confirmation email containing information about joining the meeting.

About GR Silver Mining Ltd.

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

PLOMOSAS SILVER PROJECT

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

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

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

SAN MARCIAL PROJECT

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

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

OTHER PROJECTS

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

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

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

Disclaimer for Forward-Looking Information

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

SOURCE GR Silver Mining Ltd.

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

Related Links

http://www.grsilvermining.com/

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Eloro Resources Ltd. Announces Completion of Underground Drill Bays for Diamond Drilling Program at Iska Iska Silver-Polymetallic Property Area, Potosi Department, Southern Bolivia

 Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro”, or the “Company”) is pleased to announce that its Bolivian subsidiary Minera Tupiza S.R.L. has completed the three (3) underground drill bays in the Huayra Kasa Mine required for the planned 3,500m underground diamond drilling program on its optioned Iska Iska Polymetallic Project in Potosi Department, southern Bolivia. The Company and contractor Empresa Minera Villegas S.R.L. have implemented safeguards to protect personnel from COVID-19. Minera Tupiza S.R.L. has received clearance from the Government of Bolivia for travel to Tupiza. Drilling will be carried out by Leduc Drilling S.R.L. and is expected to commence in early September. All workings will be systematically geologically mapped and channel sampled prior to commencement of the drill program.

Table 1 below identifies the initial 20 planned underground drill holes totalling 2,225 metres at Huayra Kasa Mine and Figure 1 is a plan map showing the location of the planned holes in relation to the mineral domains defined by the synchrotron study (see press release June 25, 2020). The study concluded that synchrotron mineral cluster analysis identified four mineralogical domains that cover the entire sampling area suggesting they are related and represent a single, large mineralizing system. Furthermore, the mineralogy of the domains is consistent with minerals identified in hand specimens and are likely related to a telescoped porphyry/epithermal style of mineralization. The remaining 1,275m of drilling in the program will be allocated depending on results from the initial drilling.

Tom Larsen, President & CEO of Eloro commented: “The results from the synchrotron study support the concept of outlining potential bulk mineable silver-polymetallic mineralization at Iska Iska as concluded by Micon International Limited (“Micon”). The planned drill program follows the outline presented in the NI 43-101 Technical Report by Micon (see press release April 29, 2020), This program will be the first drilling to ever be carried out on the property and is designed to test the full extent of the mineralized system in and around the Huayra Kasa underground workings. The mineralized/altered zone is exposed in the underground workings over a width of 100m but is likely much more extensive. Drilling will be over a strike length of approximately 300m to a depth of 100m in the vicinity of the mine workings (Figure 1). Iska Iska is situated in the highly prolific Southern Bolivian Silver belt and has excellent potential to host a significant silver-polymetallic mineral deposit”.

Qualified Person

Dr. Osvaldo Arce, P. Geo., an expert on Bolivian geology and a Qualified Person in the context of National Instrument 43-101 has reviewed and approved the technical content of this news release. Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Eloro, and who has more than 45 years of worldwide mining exploration experience including extensive work in South America, will provide technical oversight to the program in consultation with Eloro’s Technical Advisory Committee and Micon International. Drill samples will be prepared in SGS’s preparation facility in Oruro, Bolivia with pulps sent to their main laboratory in Lima, Peru for analysis by fire assay for gold and silver as well as 31 element ICP. Eloro will employ an industry standard QA/QC program with standards, blanks and duplicates

About Iska Iska

Iska Iska polymetallic project is a road accessible, royalty-free property, wholly-controlled by the Title Holder, Empresa Minera Villegas S.R.L. and is located 48 km north of Tupiza city, in the Sud Chichas Province of the Department of Potosi. The property can be classified as a polymetallic (Ag, Zn, Pb, Au, Cu, Bi, Sn, In) epithermal-porphyry complex. This is an important mineral deposit type in Bolivia. Eloro’s Bolivian subsidiary, Minera Tupiza S.R.L., has an option to acquire a 99% interest in Iska Iska.

Geological mapping on the property by Eloro has revealed the spatial and temporal zonation of alteration and vein minerals in an area of about 5 square kilometres. The polymetallic mineralization occurs mainly as veins, subsidiary vein swarms, veinlets, stockworks, and disseminations, forming a subvertical vein system in both the stock and the volcanic and sedimentary rocks. Preliminary evaluation work including 42 channel samples in underground and on surface workings at Iska Iska returned significant results as summarized below. All of the channel samples included altered wall rock with widths ranging between 1.20 to 5.55 m, averaging 2.90 m (see press release of October 8, 2019 for further details).

  • Silver. Anomalous silver values range between 35.5-694 g/t Ag (46% of channel samples).
  • Gold. Anomalous gold values range between 0.31-28.6 g/t Au (42% of channel samples).
  • Zinc. Anomalous zinc values range between 1.05-16.95% Zn (37% of channel samples).
  • Lead. Anomalous lead values range between 0.41- 16.95% Pb (49% of channel samples).
  • Copper. Anomalous copper values range between 0.1->1% (22% of channel samples).
  • Bismuth. Anomalous bismuth values range between 967-7,380 g/t Bi (22% of channel samples).
  • Indium. Anomalous indium values range between 10.35->500 g/t In (34% of channel samples).

The synchrotron study concluded that the mineral cluster analysis identified four mineralogical domains that cover the entire sampling area suggesting they are related and represent a single, large mineralizing system. Furthermore, the mineralogy of the domains is consistent with minerals identified in hand specimen and are likely related to a telescoped porphyry/epithermal style of mineralization. Domain 1 (Figure 1) is the most pervasive while Domains 2, 3 and 4 are more localized.

Dr, Osvaldo Arce, P.Geo., Project Manager in Bolivia, commented: “The results from this study support the concept of outlining potential bulk mineable silver-polymetallic mineralization at Iska Iska as concluded by Micon. Domain 1 is very widespread with mineralization and alteration occurring in all rock types including granodiorite, dacite and sandstone. Some samples returned grades comparable to those samples in the more restricted domains. Domain 2 contains high silver, zinc, lead and indium values while Domain 3 has high gold and bismuth values. Domain 4 returned the highest gold value with high silver and bismuth. It is likely that the mineralization in Domains 2 to 4 is a precious metal-rich epithermal style that occurs along structures cutting the widespread Domain 1 mineralization that is of disseminated porphyry style. It should be emphasized that this is a preliminary study the conclusions of which will be refined with additional surface/underground geological mapping and diamond drilling” (see press release June 25, 2020 for further details).

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro recently commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited and is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

Information in this news release may contain forward-looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that statements of forward-looking information will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

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

FOR FURTHER INFORMATION PLEASE CONTACT:
Thomas G. Larsen (President & CEO)Jorge Estepa (Vice-President)
tlarsen@elororesources.comjestepa@elororesources.com
ELORO RESOURCES LTD
20 Adelaide Street East, Suite 200PHONE (416) 868-9168 | FAX (416) 361-1333
Toronto, Ontario, Canada M5C 2T6www.elororesources.com

Table 1: Summary of Initial Planned Underground Diamond Drill Holes, Huayra Kasa Mine.

DDH No.DRILL BAY No.SECTIONEASTING UTMNORTHING UTMELEV. (masl)AZIMUTHDIPPLANNED LENGTH (m)
DHK-011A-A’20561676563854155180-10°100
DHK-021A-A’20561676563854155180-50°100
DHK-031B-B’20561676563854155900075
DHK-041B-B’2056167656385415590-45°100
DHK-051A-A’20561676563854155N00-50°100
DHK-061B-B’2056167656385415527000150
DHK-071B-B’20561676563854155270-45°150
DHK-082C-C’20554076563674155150-10°100
DHK-092C-C’20554076563674155150-45150
DHK-102D-D’2055407656367415530-50°150
DHK-112C-C’2055407656367415533000100
DHK-122C-C’20554076563674155330-45°100
DHK-132D-D’2055407656367415521000100
DHK-142D-D’20554076563674155210-45°100
DHK-153E-E’2054907656368415531500100
DHK-163E-E’20549076563684155315-45°150
DHK-173F-F’2054907656368415527000100
DHK-183F-F’20549076563684155270-45°150
DHK-193G-G’2054907656368415522500100
DHK-203G-G’20549076563684155225-45°150
TOTAL2,225

Note: Final drill hole coordinates and depths may vary from planned.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/12b060eb-d0b5-409e-a676-066877b0f194

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GR Silver Mining Reports Near Surface Silver and Gold Mineralization in Drill Results from the Plomosas Mine Area, Plomosas Silver Project

  • 716 gpt AgEq1 over 6.8 m (191 gpt Ag, 1.9 gpt Au, 7.1% Pb and 3.4% Zn)
  • 1,687 gpt AgEq over 0.4m (1,559 gpt Ag, 0.5 gpt Au, 1.4% Pb and 1.1% Zn)
  • 12.6m at 1.7 gpt Au, 17 gpt Ag and 0.7% Zn

VANCOUVER, BCAug. 11, 2020 /CNW/ – GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report drill results from the Plomosas Mine Area at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

These drill results reveal the presence of wide zones of gold mineralization in addition to attractive near surface polymetallic (Ag-Pb-Zn) mineralization. The two styles of mineralization represent unmined areas located 50 m NW from a previously released section of drill hole results at the Plomosas Mine Area (Figure 1). The results define a mineralized strike length of up to 700 m, with field evidence and underground mapping indicating further continuity along strike and down dip. This news release features results from 14 diamond core holes drilled by previous companies but not previously released. The 3D geological model of results to date in the Plomosas Mine Area continues to support the Ag-rich polymetallic breccia being hosted within a shallow dipping fault and the silver-gold mineralized low sulphidation epithermal veins being hosted by multiple high angle faults.

The mineralized veins and hydrothermal breccias reported in this news release (Table 1), favour the potential delineation of shallow polymetallic resources, up to 150 vertical metres below surface. This zone has been earmarked for testing by the Company’s upcoming shallow diamond core drilling program to fully explore the extent of down-dip and along-strike continuity.

____________________

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

GR Silver Mining President and CEO, Marcio Fonseca, commented, “These results confirm continuity of the Plomosas Mine Area mineralized system, extending at least 700 m along strike to the NW. Additionally, our recent surface exploration work has provided evidence that the mineralized footprint extends beyond the existing drilled areas. The definition of silver-gold rich mineralized zones close to the surface represents potential for the delineation of shallow resources at the Plomosas Mine Area”.

GR Silver Mining is currently advancing its surface drilling program on the two areas marked on Figure 1, aiming to define new mineralized zones close to the surface. Modelling of mineralized zones in 3D is also underway, integrating all drill hole data, surface and underground mapping and underground channel sampling. The excellent geotechnical conditions of the historical Plomosas underground mine workings allows full access to important areas where the Company has been able to identify multiple low sulphidation epithermal veins. These veins will be the target of an underground drilling program, expected to commence in the coming months.

Table 1 summarizes the most significant drill assay results for this set of 14 drill holes released for the Plomosas Mine Area.

Table 1: Summary Surface Drill Hole Results – News Release August 11 2020 (Plomosas Mine Area)

Hole No.

From
(m)

To
(m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Au g/t

Pb %

Zn %

AgEq
g/t

PLSS18-02

357.8

359.8

2.0

2.0

350

0.2

0.3

0.2

383

includes

358.9

359.3

0.4

0.4

1,559

0.5

1.4

1.1

1,687

360.5

366.8

6.3

6.3

na

1.4

na

na

PLSS18-04

377.6

387.9

10.3

10.2

52

0.2

0.1

0.5

95

PLI17-27

57.0

77.9

20.9

20.4

12

0.9

0.3

1.0

143

PLI17-35

74.8

94.7

19.9

19.2

na

0.5

0.2

0.6

PLI17-44

110.6

114.1

3.5

3.2

na

0.1

0.5

1.2

118.0

129.0

11.0

10.1

na

na

0.1

0.5

216

205.0

207.8

2.8

1.8

28

1.1

1.9

3.1

284

219

7.5

14.3

6.8

4.4

191

1.9

7.1

3.4

716

226

140.0

148.9

8.9

8.8

na

1.1

na

na

227

145.5

146.4

0.9

0.7

na

5.0

1.0

0.8

228

46.0

46.3

0.3

0.3

42

1.7

0.8

1.9

295

161.0

161.5

0.5

0.4

na

0.1

0.8

2.0

163.0

163.5

0.5

0.4

na

na

0.3

7.2

172.0

172.6

0.6

0.5

na

na

0.8

1.1

176.5

176.9

0.4

0.4

na

na

2.1

3.0

216.0

216.4

0.4

0.4

na

na

na

5.0

229

194.5

194.9

0.4

0.4

na

2.2

2.5

0.1

199.5

199.9

0.4

0.4

na

na

1.1

na

235

17.3

21.6

4.3

3.1

31

na

0.3

2.4

108

72.0

73.0

1.0

0.8

134

2.3

0.1

2.4

437

244

140.9

147.6

6.7

3.4

135

0.5

0.5

1.1

232

includes

140.9

143.3

2.4

1.2

184

na

0.4

0.9

224

148.4

154.4

6.1

3.0

4

0.8

na

na

244

160.9

167.9

7.0

3.5

16

1.1

na

na

167.9

169.2

1.3

0.7

6

1.2

0.1

6.1

367

182.2

194.7

12.6

6.3

17

1.7

na

0.7

209

252

147.3

156.3

9.0

5.2

15

0.5

na

na

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

The 14 drill holes in this news release were generated by a core drilling campaign completed by First Majestic Silver Corp. (“First Majestic”) in 2017 and 2018 (PLI17-27, PLI17-35 and PLI17-44; PLSS18-02 and PLSS18-04), and historical drill holes completed by Grupo Mexico. Neither of the drill sets were previously released. They are part of an extensive surface and underground diamond core drilling database, which GR Silver Mining continues to consolidate and validate.

Table 2 lists the drill hole intervals previously not sampled (“NS”) for this group of released holes. The Company continues investigating previous unsampled intervals for evidence of mineralization in the core that warrants additional sampling and assaying.

Additionally, Table 3 provides collar coordinates for the drill holes presented in this news release.

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

Hole No.

From-To (m)

Sampling

PLSS18-02

0-354.15

NS

PLSS18-04

0-373.05

NS

PLI17-27

0-49.05

NS

PLI17-27

84.7-121.6

NS

PLI17-35

0-70.45

NS

PLI17-44

0-92.3

NS

All numbers are rounded. NS – Core not assayed by First Majestic

Table 3: Drill Hole Locations – News Release August 11, 2020 (Plomosas Mine Area Area)

Hole No.

East (m)

North (m)

RL (m)

Az.

Dip

Depth (m)

PLSS18-02

451201

2552308

1134

111

-57

400

PLSS18-04

451201

2552308

1134

93

-77

418

PLI17-27

451180

2552225

798

90

-45

122

PLI17-35

451179

2552229

798

62

-40

132

PLI17-44

451175

2552228

798

360

-45

193

216

451485

2552288

979

308

-60

224

219

451586

2552252

941

308

-60

263

226

451535

2552298

993

52

-60

234

227

451539

2552263

976

308

-60

203

228

451539

2552263

976

0

-77

234

229

451483

2552300

988

0

-90

208

235

451494

2552246

957

308

-60

208

244

451443

2552242

980

308

-50

200

252

451439

2552242

983

308

-59

158

All numbers are rounded.

The Company believes that the Plomosas Mine Area is part of a much larger low sulphidation epithermal system as indicated by field evidence along 1.0 km of strike length, where only 400 m of that strike has previously been drilled. This represents an opportunity for the current surface drilling program to continue discovering new mineralized zones close to the surface.

Qualified Person

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

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

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

About GR Silver Mining Ltd.

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

PLOMOSAS SILVER PROJECT

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

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

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

SAN MARCIAL PROJECT

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

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

OTHER PROJECTS

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

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

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

Disclaimer for Forward-Looking Information

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

SOURCE GR Silver Mining Ltd.

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

Related Links

http://www.grsilvermining.com/

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GR Silver: Great Drill Holes at the Plomosas Silver Project, Mexico

The junior resource world runs on “news”. The most valuable news a company can bring to the market is drill results. Ideally, drill results which disclose good grades over broad intervals. The problem most juniors face is that drilling is expensive: hundreds of dollars a meter. And it is time-consuming as the core has to be split and sent to the lab for analysis.

When CEO Marcio Fonseca’s GR Silver Mining (V.GRSL) announced that it was buying 100% of the Plomosas Silver Project from First Majestic (T.FR) in exchange for GRSL shares and a small cash payment Fonseca stated, “The incorporation of this Project’s extensive database, together with knowledge gained during the last two years exploring, drilling, and expanding the resource at the nearby San Marcial Project, provides superb vectors  to achieve new discoveries of high-grade Ag-Au  Multiple Veins on the Plomosas Project.”

What many people missed, though it was right in the press release, was just what that database contained, namely over 500 recent and historical drill holes which represented a substantial fraction of the $18 million US which had been invested in the Plomosas project from 2007 to 2019. And here’s the key thing, none of those holes had been reported.

“Big companies like First Majestic don’t really publish drill results,” said Fonseca in a phone interview. “But these holes have real value, they are real results and have proved the presence of potential multiple discoveries.”

500 drill holes in six areas which have never been reported give GRSL press release material for a long time, and the company has released only approximately 100 holes. “We want to tell the story,” said Fonseca. “We want the news flow but we have to go through a process to validate the results. We need to confirm the location, confirm a chain of custody, look at the reports, the logs and core for each hole.”

Once a group of holes have been verified, GRSL can release the results and its interpretation of those results as it did July 20, 2020 GR Silver Mining Announces Extension to the Plomosas Vein and Reports High-Grade Silver Drill Results. The headline results were outstanding including 1,112 gpt AgEq1 over 5.4m (1,096 gpt Ag, 0.3% Pb and 0.2% Zn) including 2,498 gpt AgEq over 2.0m (2,484 gpt Ag, 0.7% Pb and 0.3% Zn). However, from an investor’s perspective, this passage may be the most important, “The drill holes in this news release were generated by a drill campaign completed by First Majestic Silver Corp. (“First Majestic”) in 2017 (PLI17-08), and historical drill holes completed by Grupo Mexico. Both drill sets were not previously released.” Another release came out July 24, reporting more, previously unreleased, drill holes.

Not one of the 22 holes reported in the release cost GRSL any money to drill. The company has literally hundreds of these holes to verify and release. “This gives us huge leverage,” said Fonseca. “100,000 meters.”

The prior work on the site also gives GRSL’s experienced site geologists a lot to work with. “There are six areas where there an average of 100 holes; but there are eleven additional targets which GR Silver is already planning to drill. We have one drill on site now with two more coming,” said Fonseca. Most of the proposed drilling will be quite shallow, less than 200 meters, making it easier to move drill rigs around, and will focus on delineating the vein systems and their controls as well as adding ounces.

“By the end of the year or early Q1/2021 we want to have the first-ever 43-101 compliant resource estimate on at least one area,” said Fonseca. “Having just completed a successful oversubscribed Bought Deal (CAD$9.1m), which included First Majestic investing $1.0m, makes GR Silver Mining a very particular story. Not many companies in this market cap would have a bought deal offer presented to them. These funds strength the company’s financial positions making it fully funded for the next two to three years.”

COVID has not been a significant factor for GRSL. “We’ve had no COVID shutdown,” said Fonseca. “While I have had to stop visiting Mexico, all our key people speak Spanish and we can stay in touch. All our employees are locals or live nearby limiting the flow of external personnel to the site.”

With plenty of cash on hand, a mountain of unreleased results to verify and release, plus three drill rigs expanding the footprint of mineralization or discovering new high-grade veins, there is very little question that GRSL is exceptionally well-positioned for growth. The recent romp in the price of silver – over $24.00 USD an ounce as I write – it is not surprising that GRSL’s share price has surged in the last few weeks. May 1 the shares were trading at $0.30 a share, at the close on July 24, GRSL traded at $0.85 on a volume of 1.933 million shares.

Fonseca’s GRSL has caught the market’s attention as a well run, well funded, resource expansion, discoveries and development stage company with control of a highly prospective silver-gold district. If silver holds its gains or runs higher, there is no reason why GRSL cannot break through the $1.00 mark in short order. And beyond.

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

(Disclosure: I, Jay Currie, own GRSL and have a buy order in for the open on July 26, 2020.)

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GR Silver Mining Reports High-Grade Silver Drill Results From the San Juan Area, Plomosas Silver Project


  • 1,181 gpt AgEq1 over 3.1m (846 gpt Ag, 0.8 gpt Au, 2.7% Pb and 6.0% Zn) includes 3,224 gpt AgEq over 1.1m (2,300 gpt Ag, 2.1 gpt Au, 7.6% Pb and 16.3% Zn)
  • 1,120 gpt AgEq over 2.7m (931 gpt Ag, 0.1 gpt Au, 1.9% Pb and 4.0% Zn) includes 1,566 gpt AgEq over 1.4m (1,478 gpt Ag, 1.3% Pb and 1.6% Zn)
  • 755 gpt AgEq over 3.5m (737 gpt Ag, 0.1 gpt Au, 0.1% Pb and 0.3% Zn)
  • 720 gpt AgEq over 4.8m (563 gpt Ag, 0.3 gpt Au, 1.6% Pb and 2.7% Zn)

VANCOUVER, BCJuly 24, 2020 /CNW/ – GR Silver Mining Ltd. (TSXV: GRSL) (FRANKFURT: GPE) (OTCQB: GRSLF) (“GR Silver Mining” or the “Company”) – is pleased to report high-grade drill results from the San Juan-La Colorada Area at its 100%-owned Plomosas Silver Project (“Plomosas Project”) in Sinaloa, Mexico.

These drill results highlight continuity of high-grade silver mineralized zones in a 100 m step out from a previously released section of drill hole results at the San Juan Area (Figure 1). These latest results define a mineralized strike length for the the low sulphidation epithermal system of up to 1,000 m (see News Release dated July 7, 2020). This news release features results from 17 diamond core holes drilled by previous companies and not previously released. The cross section containing these results establishes a high-grade continuous zone of Ag-rich polymetallic breccia, along a shallow dipping fault for approximately 400 m down dip. In addition, the drill results continue to confirm silver-gold mineralized zones hosted by multiple high angle faults (link to cross section).

The results of the 17 drill holes indicate the possible extension of the San Juan-La Colorada Area towards the San Francisco Area to the south, supporting the presence of a much larger low sulphidation epithermal Ag-Au rich system (Figure 2).

The mineralized veins and hydthermal breccias appear to be proximal to each other in subparallel structures, a feature typical of low sulphidation epithermal systems. The concentration of multiple veins, in combination with increased continuity along strike and down-dip, represents an attractive target for future resource delineation.

_____________________________

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

GR Silver Mining President and CEO, Marcio Fonseca, commented, “The Company has prioritized the validation of the drill holes at the San Juan-La Colorada Area, focusing on expansion of mineralization along strike and down-dip. These latest results confirm high-grade mineralization extending to the S towards the San Francisco Area, suggesting potential to outline a large low sulphidation epithermal system with at least a 1000 m strike length”.

The Company is advancing the rehabilitation of the historical San Juan underground workings, while continuing with geological and structural mapping/sampling. An improved understanding of the mineralized systems, which consists of a set of multiple structures hosting high-grade Ag-Au mineralization, has resulted in the definition of new drill targets. Detailed mapping by GR Silver Mining has identified down plunge extensions of previously released high-grade silver intercepts in polymetallic hydrothermal breccia (see news release dated April 2, 2020). In the lower levels of the historically developed San Juan workings, massive argentite, galena and sphalerite zones have been mapped similar to the previously released high-grade silver zones which included results such as 0.4 m at 4,698 g/t Ag and 0.2 m at 6,128 g/t Ag.

Table 1 summarizes the most significant drill assay results for this set of 17 drill holes released for the San Juan-La Colorada Area.

Table 1: Summary Surface Drill Hole Results – News Release July 27, 2020 (San Juan-La Colorada Area)

Hole No.

From
(m)

To
 (m)

Drilled
width
(m)

Est.
true
width
(m)

Ag g/t

Ag g/t

Pb %

Zn %

AgEq
g/t

 LRD-28

38.9

43.7

4.8

3.8

563

0.3

1.6

2.7

720

 LRD-29

218.8

225.0

6.2

5.0

144

0.0

0.3

0.8

177

 LRD-41

37.3

39.4

2.1

1.7

42

0.2

0.8

2.4

152

 LRD-59

71.2

74.3

3.1

2.5

846

0.8

2.7

6.0

1,181

includes

71.2

72.3

1.1

0.9

2,300

2.1

7.6

16.3

3,224

 LRD-62

58.9

60.1

1.2

1.0

91

0.4

3.8

5.8

425

 LRD-65

50.5

51.7

1.2

1.0

178

1.3

3.9

12.5

784

 LR2D-01

94.8

96.1

1.3

1.0

342

0.0

1.4

1.7

438

 SJS-06

245.0

249.1

4.1

3.3

335

0.1

0.1

0.2

347

includes

248.6

249.1

0.5

0.4

2,154

0.1

0.2

0.3

2,178

251.5

252.9

1.4

1.1

110

0.1

0.1

0.1

125

 SJS-09

301.1

308.1

7.0

5.6

363

0.1

0.8

1.9

457

includes

301.1

303.8

2.7

2.1

931

0.1

1.9

4.0

1,120

includes

301.1

302.5

1.4

1.1

1,478

    na

1.3

1.6

1,566

 SJS-10

287.1

300.5

13.4

10.7

226

0.0

0.3

0.3

247

includes

295.9

299.4

3.5

2.8

737

0.1

0.1

0.2

755

 SJS-14

339.3

347.4

8.1

6.5

16

0.3

0.9

2.8

150

 SJS18-04

283.6

287.5

3.9

3.1

262

0.1

0.7

2.6

366

291.5

292.3

0.8

0.7

193

0.0

0.2

0.4

213

314.4

314.8

0.4

0.3

96

0.1

2.8

3.9

312

 SJS18-13

4.3

6.5

2.2

1.7

65

0.9

0.1

0.0

160

23.9

24.3

0.4

0.3

158

1.1

0.2

0.4

291

 SJS-19

257.8

261.2

3.4

2.8

141

0.0

0.3

0.7

171

includes

257.8

259.4

1.6

1.3

271

0.0

0.5

1.1

318

278.8

279.9

1.1

0.9

254

0.0

0.2

0.5

274

 SJS-21

221.2

223.3

2.1

1.7

105

0.6

0.3

0.4

184

 SJS-25

301.6

305.2

3.6

2.9

50

0.1

1.8

4.6

248

includes

301.6

303.4

1.8

1.5

92

0.1

3.2

8.5

449

SJS-27

297.1

298.8

1.7

1.3

90

0.0

0.5

1.0

135

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

The 17 drill holes in this news release were generated by a core drilling campaign completed by First Majestic Silver Corp. (“First Majestic”) in 2018 (SJS18-04 and -13), and historical drill holes completed by Grupo Mexico. Neither of the drill sets were previously released. They are part of an extensive surface and underground diamond core drilling database, which GR Silver Mining continues to consolidate and validate.

Table 2 lists the drill hole intervals previously not sampled (“NS”) for this group of released holes. The Company continues investigating previous unsampled intervals for evidence of mineralization in the core that warrants additional sampling and assaying. The Company recently announced a core drilling program at the Plomosas Silver Project (see news release dated July 15, 2020).

Additionally, Table 3 provides collar coordinates for the drill holes presented in this news release.

Table 2: San Juan-La Colorada Area – Drill Hole Intervals Not Sampled (Intervals greater than 20m)

Hole No.

From-To (m)

Sampling

SJS17-13

0-173.95

NS

SJS17-13

191.35-218.5

NS

SJS17-13

233.55-331.7

NS

SJS17-15

0-197.9

NS

SJS17-15

208.25-253.4

NS

SJS18-04

0-270.75

NS

SJS18-04

317.95-375.55

NS

SJS18-12

48.2-82.5

NS

SJS18-12

113.4-145.0

NS

SJS18-13

33.0-64.75

NS

SJS18-13

129.0-186.3

NS

SJS18-13

191.3-247.5

NS

SJS18-13

249.6-282.0

NS

All numbers are rounded. NS – Core not assayed by First Majestic

Table 3: Drill Hole Locations – News Release July 27, 2020 (San Juan- La Colorada Area)

Hole No.

East (m)

North (m)

RL (m)

Az.

Dip

Depth (m)

LR2D-01

448267

2550579

925

260

-90

192

LRD-28

448224

2550545

910

0

-90

44

LRD-29

448361

2550615

986

0

-90

234

LRD-41

448242

2550510

908

0

-90

43

LRD-59

448247

2550574

918

0

-90

81

LRD-62

448262

2550514

917

0

-90

78

LRD-65

448262

2550514

917

262

-62

57

SJS-06

448414

2550668

1025

0

-90

291

SJS-09

448520

2550764

1013

50

-65

333

SJS-10

448486

2550738

1032

256

-55

321

SJS-14

448520

2550764

1013

227

-80

352

SJS18-04

448426

2550707

1043

227

-80

376

SJS18-13

448517

2550752

1002

220

-78

357

SJS-19

448402

2550653

1018

326

-81

319

SJS-21

448402

2550652

1017

317

-73

310

SJS-25

448458

2550693

1031

207

-77

328

SJS-27

448516

2550721

1013

225

-69

325

All numbers are rounded.

The Company believes that the San Juan-La Colorada Area is similar to the Plomosas Mine Area, consisting of Ag mineralization hosted in polymetallic hydrothermal breccias and steep angle Ag-Au rich low sulphidation epithermal veins, commonly displaying argentite, galena and sphalerite that can be observed in the drill core .

Qualified Person

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

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

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

About GR Silver Mining Ltd.

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

PLOMOSAS SILVER PROJECT

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

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

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

SAN MARCIAL PROJECT

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

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

OTHER PROJECTS

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

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

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

Disclaimer for Forward-Looking Information

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

SOURCE GR Silver Mining Ltd.

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

Related Links

http://www.grsilvermining.com/

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GR Silver Mining Announces Extension to the Plomosas Vein and Reports High-Grade Silver Drill Results

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

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

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

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

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

1. 

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

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

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

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

Hole No.

Hole Type

From (m)

To (m)

Drilled width (m)

Est. true width (m)

Ag g/t

Au g/t

Pb %

Zn %

AgEq g/t

SD-14

SURF

102.0

105.4

3.4

2.8

123

 na

 na

0.1

SD-17

SURF

81.0

84.7

3.7

3.5

169

 na

 na

0.1

SD-17

SURF

93.4

107.4

14.0

13.2

239

 na

0.1

0.3

252

includes

98.7

105.3

6.6

6.2

362

 na

0.2

0.5

SD-20

SURF

93.3

126.4

33.1

32.6

35

 na

0.1

0.2

SD-39

SURF

79.0

84.4

5.4

4.4

161

 na

 na

0.1

168

SD-39

SURF

96.3

98.8

2.5

2

928

 na

0.1

0.2

935

SD-40

SURF

101.5

112.4

10.9

10.7

84

 na

0.1

0.2

SD-41

SURF

61.1

65.7

4.6

4.6

39

0.1

0.1

0.2

SD-43

SURF

106.0

111.4

5.4

2.7

1,096

 na

0.3

0.2

1,112

includes

106.0

108.0

2.0

1

2,484

 na

0.7

0.3

2,498

SD-43

SURF

118.0

123.0

5.0

2.5

234

 na

0.0

0.1

240

SD-55

SURF

173.0

175.3

2.3

1.6

19

 na

1.7

5.3

SD-79

SURF

205.8

213.7

7.9

5.1

6

 na

0.6

0.7

117

UG

6.3

9.3

3.0

1.3

191

 na

1.1

0.9

254

117

UG

20.5

21.4

0.9

0.4

375

 na

3.0

2.1

536

277-IM

UG

26.5

30.5

4.0

3.1

103

0.1

0.8

1.4

172

 279-IM

UG

25.3

38.3

13.0

10

328

0.2

0.5

1.2

397

281

UG

8.0

11.0

3.0

3

16

0.3

1.2

2.9

281

UG

14.0

18.0

4.0

4

27

0.2

1.4

3.8

281

UG

44.0

48.0

4.0

4

12

0.1

1.6

2.7

282

UG

2.0

4.0

2.0

1.9

20

0.4

1.9

5.0

282

UG

6.0

8.0

2.0

1.9

50

3.8

1.9

9.0

745

283

UG

14.0

20.0

6.0

3

18

0.8

2.1

6.6

283

UG

78.0

80.0

2.0

1

185

0.8

1.5

2.1

377

284

UG

38.5

40.5

2.0

2

18

0.2

5.9

3.2

286

UG

103.0

105.0

2.0

2

4

0.1

0.1

2.4

287

UG

96.0

101.0

5.0

4.8

7

0.2

1.9

1.9

288

UG

76.8

80.8

4.0

3.5

9

0.4

0.5

2.7

294

UG

51.7

52.7

1.0

0.6

18

0.2

0.6

3.0

PLI17-18

UG

51.9

55.3

3.4

3.3

15

0.1

0.5

3.4

includes

53.4

53.9

0.5

0.5

59

0.2

2.6

11.3

480

PLI17-18

UG

119.4

124.5

5.1

5

147

0.9

0.1

0.2

244

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

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

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

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

Hole No.

From-To (m)

Sampling

PLI17-18

15.05-45.55

NS

PLI17-18

87.75-115.0

NS

PLI17-18

171.15-209.7

NS

All numbers are rounded. NS – Core not assayed by First Majestic

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

Hole No.

East (m)

North (m)

RL (m)

Az.

Dip

Depth (m)

117

451290

2551683

818

270

0

101.5

281

451079

2551741

753

90

-49

98.3

282

451074

2551718

753

0

-90

99.5

283

451095

2551738

752

90

16

84.2

284

451095

2551738

751

90

-42

87.0

286

451050

2551683

752

102

-57

170.1

287

451050

2551683

752

120

-75

149.9

288

451050

2551683

752

180

-83

122.9

294

451050

2551683

752

246

-69

146.6

277-IM

451155

2551658

752

90

0

149.0

279-IM

451155

2551658

753

90

24

76.8

PLI17-18

450939

2551785

751

100

-38

209.7

SD-14

451394

2551708

1043

0

-90

110.5

SD-17

451397

2551731

1034

90

-60

114.9

SD-20

451397

2551731

1034

0

-90

131.4

SD-39

451390

2551738

1037

90

-72

99.8

SD-40

451390

2551738

1037

90

-58

113.2

SD-41

451390

2551738

1037

270

-72

71.2

SD-43

451390

2551738

1037

0

-90

187.6

SD-55

451311

2551761

1032

270

-82

201.8

SD-79

451317

2551716

1050

270

-75

213.7

All numbers are rounded.

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

Qualified Person

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

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

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

About GR Silver Mining Ltd.

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

PLOMOSAS SILVER PROJECT

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

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

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

SAN MARCIAL PROJECT

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

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

OTHER PROJECTS

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

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

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

Disclaimer for Forward-Looking Information

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

SOURCE GR Silver Mining Ltd.

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

Related Links

http://www.grsilvermining.com/

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