GR Silver Mining Ltd. announced a new silver (Ag) discovery in the first drill hole stepping out 250 m to the southeast of the San Marcial Resource Area on the wholly-owned Plomosas Project in Sinaloa, Mexico. Surface drill hole SMS22-10 intersected 101.6 m at 308 g/t Ag (from 98.5 m down hole), including multiple intervals grading over 1,000 g/t Ag. The hole was drilled 250 m to the SE of the San Marcial Resource Area, where the Company has been exploring the extension of the target contact between upper and lower volcanic units, which typically hosts the San Marcial Breccia Ag mineralization, together with strong ground magnetic anomalies delineated in 2021.

The drilling to date in the new area has identified a more extensive breccia and stockwork mineralization, rich in Ag, immediately below the contact zone and extending mineralization far below the original target zone. This new, wide, high-grade silver discovery coincides with an inflexion in the NW-SE trending contact where it intersects with two key NE-SW trending faults. This defines a highly prospective target for continued drilling, both along strike and down dip.

Highlights of the new discovery in the Southeast Area (see also Table 1): Surface drill hole SMS22-10 has identified a wide hydrothermal breccia and stockwork system, with multiple high-grade Ag intervals SMS22-10:101.6 m at 308 g/t Ag (from 98.5 m down hole), including: 0.8 m at 7,139 g/t Ag (from 98.5 m); 0.3 m at 3,065 g/t Ag (from 102.9 m); 0.2 m at 1,774 g/t Ag (from 116.1 m); 0.2 m at 1,508 g/t Ag (from 118.3 m); 0.3 m at 1,285 g/t Ag (from 134.4 m); 4.1 m at 1,004 g/t Ag (from 149.8 m); 0.4 m at 1,579 g/t Ag (from 156.3 m); 0.3 m at 1,017 g/t Ag (from 171.5 m), and 16.2 m at 414 g/t Ag (from 184.0 m), including 1.3 m at 1,405 g/t Ag (from 198.3 m).