GR Silver Mining: Strategic Silver Investment

• GR Silver Mining commands 134 million ounces of silver equivalent resources across Mexico's proven Plomosas district
• Company launches aggressive 20,000 meter drilling program targeting resource expansion with existing permits and infrastructure
• Strategic timing captures silver market deficit projections for 2026 with C$28.8 million cash position and zero debt
• Exceptional discovery efficiency at CAD$0.17 per ounce discovered versus industry peers averaging significantly higher costs
• Bulk Sample Test Mining program advances toward production with fully permitted underground mine and existing infrastructure

Why GR Silver Mining Now

Silver markets face a structural deficit in 2026 as investment demand surges while industrial applications decline. Within this environment, GR Silver Mining Ltd. (TSXV: GRSL, OTCQB: GRSLF) emerges as a strategic investment positioned to capitalize on both market dynamics and operational catalysts. The Vancouver based company controls Mexico's Plomosas Project, housing 134 million ounces of silver equivalent resources across a historically productive mining district.

The company's stock has gained 170.27% over the past year, ranking among the top 10 TSX Venture Exchange volume leaders with average daily trading of 6.5 million shares. This liquidity, combined with strategic positioning, creates compelling investment dynamics for silver focused portfolios.

Massive Resource Base with Built In Infrastructure

GR Silver Mining operates from a 134 million ounce silver equivalent resource base established through NI 43-101 technical reports. San Marcial represents the company's primary growth driver, featuring 52 million ounces of indicated silver equivalent resources at 162 grams per tonne. Recent drilling intercepted high grade mineralization including 75 meters at 293 grams per tonne silver equivalent, confirming expansion potential beyond current resource boundaries.

"Excellent Existing Infrastructure of Brownfields Mine with permits offers restart time efficiencies," states the company in their corporate presentation. The Plomosas Mine Area contributes 31 million indicated ounces at 200 grams per tonne silver equivalent, benefiting from existing underground infrastructure developed during historical production spanning 1986 to 2000.

Strong Cash Position Powers Growth Strategy

GR Silver maintains a robust financial foundation with C$28.8 million in cash following completion of a C$20 million private placement in December 2025. The company carries zero debt, providing operational flexibility during resource expansion and development phases. Market capitalization reached C$220 million at C$0.45 per share as of February 2026, with 508 million shares outstanding.

"Fully Funded with C$28.8M and no debt," emphasizes management, highlighting the company's position to execute aggressive expansion plans without dilutive financing. Institutional ownership comprises 23% of the shareholder base, indicating professional investment recognition.

Aggressive 20,000 Meter Drilling Campaign Targets Resource Growth

The company's 20,000 meter drilling program targets resource expansion across high priority zones identified through geological modeling and geophysical surveys. Recent results from the San Marcial area demonstrate continuity of mineralization 100 meters beyond existing resource boundaries, supporting expansion potential.

Management reports "SMS25-09 intersected 75 m @ 293 g/t AgEq, including multiple intervals exceeding 1,000 g/t AgEq." VP Exploration Luis Coto, with over 20 years experience including participation in Fortuna Mining's San Jose Mine discovery, leads the systematic step-out drilling program testing parallel structures and down dip extensions.

Path to Production Through Bulk Sample Test Mining

GR Silver advances Bulk Sample Test Mining (BSTM) preparations targeting early 2026 commencement. The program utilizes 21 accessible underground areas within the historic Plomosas mine, focusing on higher grade silver zones identified through updated geological modeling.

President and CEO Marcio Fonseca, former Division Director at Macquarie Bank Metals and Energy, emphasizes:

"Conservative resource estimation approach under review with updated geological modelling. Discovery of broad mineralization that may be amenable to bulk mineable underground mining methods."

The program provides operational data supporting economic assessments while generating near term cash flow potential.

Perfect Timing for Silver Market Deficit Cycle

Global silver markets project continued structural deficits through 2026 as investment demand rises while industrial applications decline. Physical investment demand for coins, bars, and ETFs is forecast to increase substantially, offsetting reductions in photovoltaic and jewelry sectors.

The company highlights, significantly outperforming industry benchmarks:

"De-risked Geological Model offers low-cost Exploration Success – Cost of discovery per ounce Ag - CAD$0.17."

GR Silver's resource concentration in Mexico's established mining jurisdiction provides operational stability and infrastructure advantages compared to higher risk jurisdictions.

Multiple Catalysts Drive 2026 Value Creation

GR Silver's 2026 operational plan encompasses four major catalysts designed to enhance asset value and advance toward production. Resource expansion drilling continues through H1 2026, targeting systematic step-out testing of identified mineralization extensions.

"4 MAJOR CATALYSTS PLANNED FOR 2026: 20,000m Resource Expansion Drilling Program, Bulk Sample Test Mining (BSTM) Advancing Pilot Plant Installation, Resource Update, Preliminary Economic Assessment (PEA)," outlines the company's value creation roadmap. H2 2026 milestones include updated resource estimates incorporating expansion drilling results and completion of the maiden economic assessment.

Investment Strategy for GR Silver Mining

• Allocate 3 to 5% of precious metals portfolio to GR Silver as silver deficit projections support price appreciation through 2026.
• Target entry positions below C$0.50 before resource update announcements expected in H2 2026.
• Monitor BSTM program progress as operational success could trigger re-rating toward production multiples.
• Consider warrant positions at C$0.25 average exercise price if silver prices advance above $28/ounce.
• Scale positions based on drilling results from 20,000 meter program as resource expansion confirmation drives valuation.
• Diversify across mid cap silver miners if metal prices appreciate 20% from current levels.

Bottom Line for Investors

GR Silver Mining represents strategic exposure to silver market fundamentals through substantial resource control, operational efficiency, and development catalysts. The company's 134 million ounce resource base, exceptional discovery efficiency, and existing infrastructure create multiple value creation pathways.

Financial strength provides operational flexibility with C$28.8 million cash, zero debt, and institutional backing supporting aggressive expansion plans. Executive Chairman Eric Zaunscherb, former Managing Director at Canaccord Genuity, brings extensive mining equity analysis experience to guide strategic positioning during this crucial development phase.

Silver market deficit projections for 2026 support sector wide appreciation, particularly benefiting companies with development ready assets. GR Silver's operational timeline aligns with market dynamics, positioning shareholders to benefit from both company specific developments and broader silver appreciation trends.

TL;DR

GR Silver Mining controls 134 million ounces of silver resources in Mexico with exceptional discovery efficiency at CAD$0.17 per ounce. The company launches a 20,000 meter drilling program in 2026 while advancing Bulk Sample Test Mining with C$28.8 million cash and zero debt. Silver market deficits projected for 2026 support sector appreciation, positioning GR Silver to benefit from both operational catalysts and commodity trends.

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