GR Silver Mining Resumes Exploration at San Marcial Area

GR Silver Mining Ltd. (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) has resumed field exploration and step-out drilling at the San Marcial Area, part of the Plomosas Silver Project in Sinaloa, Mexico. The Company aims to expand the mineralization footprint and test potential new parallel zones, as announced on March 3, 2025.

The San Marcial Area is a near-surface, high-grade silver deposit with a NI 43-101 resource estimate containing 52 million ounces silver equivalent, including 46 million ounces silver (Indicated) and 16 million ounces silver equivalent (Inferred). The Company has identified multiple new drill targets in the vicinity of the San Marcial Resource Area, with four high-priority targets selected for new step-out and exploration drilling.

The Company's exploration team has over ten years of experience in the Rosario Mining District and has a record of successful discoveries. The geological setting of the San Marcial Area is particularly prospective, with recent exploration programs identifying a geological setting similar to the San Dimas Mining District, which has produced over 600 million ounces of silver and 11 million ounces of gold. This geological similarity suggests that the San Marcial Area has the potential to host large silver deposits comparable to those found in other major silver districts in the Sierra Madre Occidental.

The identification of the controls on mineralization at San Marcial has resulted in the recognition of the presence of the wide mineralized SE Discovery zone at a shallow depth but not outcropping. Geological interpretation, lithogeochemical sampling, and geophysical modelling together with the analysis of key structural corridors provide a template for new exploration and drilling, recognizing that mineralization can be blind, i.e., not obvious at surface. This understanding of the geological setting and mineralization controls at San Marcial allows the Company to target new drill holes and expand the mineralized footprint, potentially leading to further resource expansion.

In addition to the San Marcial Area, GR Silver Mining has been engaged in securing the necessary permits for expanded drill programs on the Plomosas Mine Area. The Company has released a total of 366 surface and underground drill holes in the Plomosas Project, which also includes the San Juan Area. All results released for this area are being incorporated into a 3D Model, part of the upcoming maiden resource estimation.

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

The Company's exploration strategy focuses on the expansion of the mineralization footprint at San Marcial, with management recognizing that the Company's greatest value driver is exploration of the highly prospective San Marcial system with its silver-dominant, wide and continuous mineralization. The Company is conducting detailed data modelling studies in conjunction with CODES, the globally regarded Centre for Ore Deposit and Earth Sciences at the University of Tasmania, to unlock key information to assist the Company to define new mineralized zones potentially comparable with other major silver districts in the Sierra Madre Occidental. Importantly, fine-tuning of the geological model at San Marcial has yielded several high-priority targets for further drilling.

In conclusion, GR Silver Mining's resumption of field exploration and step-out drilling at the San Marcial Area demonstrates the Company's commitment to expanding the mineralization footprint and testing potential new parallel zones. With a highly prospective geological setting, experienced exploration team, and a well-defined exploration strategy, GR Silver Mining is well-positioned to continue its success in the Plomosas Silver Project.

Rating: Buy.