Category: Exploration and Development

“Our underground rehabilitation has now accessed 600 metres of an estimated 1.2 kilometres of workings,” stated Darrell Rader, President and CEO. “Having full access to the workings will enable us to evaluate areas of known high-grade silver mineralization in addition to locating additional unmined areas of mineralization.”

“We believe there is excellent potential to extend mineralization beyond the areas that were historically mined at Union and Union Norte. Controlling the historical mine areas and local infrastructure puts us in a position to move ahead more aggressively with other discovery targets within the surrounding areas as well.”

GR Silver Mining Chairman and CEO, Eric Zaunscherb comments, “The upcoming resource estimation is expected to define a significant resource dominated by silver mineralization over broad widths, relatively close to surface or existing underground infrastructure. We consider these attributes to contribute to GR Silver Mining’s competitive advantages, along with project scale and prospectivity, and the management and board skills to take the project to the next level. We anticipate a potential market re-rating related to the resource estimation update, based on scale and quality of resources.”

“Ongoing drilling at Copala continues to demonstrate exceptional continuity of high-grade mineralization,” commented Michael Konnert, President & CEO. “The recently completed infill-drilling program serves to incrementally de-risk the local resource through tighter spaced drilling and provides representative sample material for metallurgical testing.”

“The results of the Q4 2022 drilling are very promising and have confirmed the ongoing 2023 drill program is on the right track to potentially deliver higher grade resources into the near- and mid-term mine plan,” stated Allen Palmier, President and CEO for the Corporation.

“Further geological interpretation and drilling of five advanced generative areas, highlighted today, along with our extensive remote-sensing and field mapping across Los Reyes, are expected to define new mineralized trends conducive to additional gold-silver deposit discoveries.”

“Early surface exploration results received thus far demonstrate the presence of high-grade gold and silver mineralization in structural trends over more than forty square kilometres (40 km2). We look forward to initiating a maiden drill program on the properties, with the aim of making new discoveries in the region.”

Mr. John Antwi, President and CEO of Bendito, commented: “Phase 1 drilling at Alacrán has achieved our expectations of significantly extending the epithermal system to the southeast of the known historical resource estimates. The exciting holes, including BSS-23-005 that shows 1.49g/t AuEq over 51m starting at 1.5m from surface, demonstrate the potential for open pit mining. These results underpin our focus on generating shareholder value at Alacran.”

“The first three holes can only be described as a success. We now know that the breccia continues to depth and appears to be of similar quality to what we had in REG-22-01. Our geologic understanding has increased significantly and our ability to target effectively in further step outs will only improve going forward” – Michael Tucker – Director and Lead Geologist.

James Anderson, Chairman and CEO said, “SI22-006 is the best drill hole the Company has drilled at any of its mines recently acquired from Great Panther Mining in August of 2022. With almost five meters of true width intersecting 1,219 g/t AgEq, which includes 0.42m true width of 6,981 g/t AgEq, this may represent a game changing result for the mine.”