GR Silver Mining Ltd. reported near surface drill results delineating continuity of high-grade, narrow silver-gold (Ag-Au) rich epithermal mineralization in the southern limit of the Plomosas Mine. The Plomosas Mine Area is currently undergoing resource estimation and these results will be incorporated in the database allowing expansion of the 3D-model beyond previously modelled zones. The drill results demonstrate intersections of polymetallic-style veins that are common in the Plomosas Mine Area, as well as some new veins hosting only precious metal (Ag-Au) mineralization. The combination of mineralization styles reinforces the large, multi-phase hydrothermal system that the Company has identified in the Plomosas Mine Area at the Plomosas Silver Project ("Plomosas Project") in Sinaloa, Mexico. The Company also announces that, pursuant to its 10% rolling stock option plan and in compliance with the policies of the TSX Venture Exchange ("TSXV"), it has granted incentive stock options to employees of the Company and its subsidiaries to purchase up to an aggregate of 800,000 common shares of the Company. These options are exercisable for a period of five years at a price of $0.71 per share. Of these options, 300,000 options granted will vest as to 1/3 on the date of grant, and a further 1/3 on each of the 1st and 2nd anniversaries of the date of grant. The Company has also negotiated a debt settlement with a non-arm's-length creditor. Pursuant to the debt settlement agreement and subject to acceptance by the TSXV, the Company has settled debt of USD 27,000 (CAD 32,659) in consideration for which it will issue an aggregate of 45,999 common shares at a deemed price of CAD 0.71 per share. Ms. Laura Diaz, a director of the Company, is also the principal owner of the creditor. Consequently, this debt settlement arrangement is considered a "related party transaction" pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with Ms. Diaz's participation in the debt settlement in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that the creditor's participation in this debt settlement did not exceed 25% of the fair market value of the Company's market capitalization.