GR Silver Mining Reports 21.9 Metres at 168 Grams Per Tonne Silver at San Marcial SE Extension, Confirms 150 Metre Southeastward Expansion

• GR Silver reported a true width of 21.9 metres at 168 grams per tonne silver and 1.41% zinc from the SE Extension target at San Marcial.
• Drilling confirmed the high-grade silver system extends at least 150 metres beyond the southeastern edge of the 2023 Mineral Resource Estimate (MRE).
• A second SE Extension hole returned a true width of 12.25 metres at 57 grams per tonne silver, including higher-grade silver and gold intervals.
• Three holes at the Parallel Breccia target intersected hydrothermal breccias, stockwork and vein systems, including 2.85 metres true width at 340 grams per tonne silver and 0.32 grams per tonne gold.
• The 20,000-metre drilling program remains underway, with assay results pending for 7 additional holes ahead of a planned MRE update and Preliminary Economic Assessment (PEA)

Company Overview

GR Silver Mining Ltd. (TSXV: GRSL | OTCQX: GRSLF | Frankfurt: GPE) is a Canadian-based exploration company focused on expanding its silver-gold resource in Mexico. The company holds 100% of the Plomosas Project, located on the eastern edge of the Rosario Mining District in Sinaloa State, encompassing the high-grade silver discovery at the San Marcial Area and the former Plomosas underground mine across 78 square kilometres of exploration concessions.

SE Extension Target Results

GR Silver Mining Ltd. reported results from 2 drill holes at the SE Extension target in the San Marcial Area of the Plomosas Project, Mexico. The program tested the lateral continuation of the high-grade silver system beyond the southeastern edge of the 2023 National Instrument 43-101 Mineral Resource Estimate (MRE), with results confirming mineralisation extends at least 150 metres beyond the current resource boundary.

The strongest intercept returned 21.9 metres true width at 168 grams per tonne silver and 1.41% zinc from 191.5 metres downhole, including 6.15 metres true width at 447 grams per tonne silver and 0.85% zinc, and 4.15 metres true width at 159 grams per tonne silver and 5.8% zinc. The upper interval is hosted in chlorite-hematite-rich breccias at the contact between the upper Oligocene volcanic sequence and lower Jurassic volcano-sedimentary sequence, while the lower interval occurs within hydrothermal breccias and stockwork systems in the Jurassic sequence. The second hole returned 12.25 metres true width at 57 grams per tonne silver, including 2.05 metres true width at 100 grams per tonne silver and 0.39 grams per tonne gold, and 1.45 metres true width at 184 grams per tonne silver.

President and Chief Executive Officer of GR Silver Mining Ltd., Eric Zaunscherb, commented: 

"The results from two new resource expansion areas at San Marcial demonstrate the continued effectiveness of our 20,000-metre drilling program and reinforce our confidence in the exploration potential of both the Southeastern Extension and the Parallel Breccia. We look forward to further advancing these targets as we continue to better define and expand the mineralised system. As the program advances, new data will allow us to follow up on higher-grade features like the dilation zone intersected in Hole SMS26-04 in the SE Area, which returned 45.1 metres estimated true width at 1,623 grams per tonne silver, including 8.25 metres true width at 8,579 grams per tonne silver."

Parallel Breccia Target Results

Drilling at the Parallel Breccia target was designed to better understand newly identified mineralised structures in the vicinity of the MRE. Three holes intersected multi-stage hydrothermal breccias, stockwork and vein systems within the lower Jurassic volcano-sedimentary sequence, controlled by intersecting northwest-southeast and northeast-southwest structural trends.

Key results included 2.85 metres true width at 340 grams per tonne silver and 0.32 grams per tonne gold from 63.0 metres downhole, including 1.75 metres true width at 450 grams per tonne silver and 0.37 grams per tonne gold, and a separate interval of 0.75 metres true width at 5.34 grams per tonne gold from 195.0 metres downhole. Another hole returned 26.80 metres true width at 6 grams per tonne silver and 0.14 grams per tonne gold.

The company said stockwork mineralisation in the area is characterised by continuous low-grade gold mineralisation with localised higher-grade intervals, representing a style distinct from the chlorite-hematite hydrothermal breccia mineralisation that dominates the main resource area.

Geological Context

The company said the SE Extension results support the interpretation of a laterally extensive hydrothermal system, with mineralisation occurring in both the upper contact zone and lower Jurassic host rocks. The company said the multi-stage hydrothermal breccias and stockwork zones record multiple brecciation and mineralisation events, indicating repeated hydrothermal fluid circulation and remobilisation of silver and polymetallic mineralisation from the Jurassic through the Cretaceous and into the Oligocene.

Next Steps

The 20,000-metre step-out drilling program at San Marcial is ongoing, with assay results pending for 7 additional holes. The program continues to target the SE Extension and Parallel Breccia areas, with results targeted to be followed by an MRE update and a planned PEA.

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