GR Silver Mining Ltd. announced that it has advanced negotiations and entered into commercial agreements with private local operators (mining and milling operators) in the Rosario Mining District, in Sinaloa, Mexico, to explore opportunities related to the following aspects of the Plomosas Project: Advance mine preparation to extract bulk sample material to collect information for future use in engineering reports ("Bulk Sampling Test Mining" or "BSTM Program") and metallurgical testing of Ag-Au rich Pb concentrates. Use existing permits and infrastructure to allow the Company to access mineralized material through small test bulk sampling operations, up to 4,500 tonnes per month for metallurgical sampling from historical mine sites, San Juan and La Colorada. Use existing and available third-party privately-owned mill operations located near the historical mine sites with a capacity of up to 140 tonnes per day to process the BSTM Program material, obtaining monthly producing small batches of Ag-rich concentrate for metallurgical characterization.

Explore cost savings strategies, where with low capital expenditures, the company can advance the exploration of the Plomosas Project and gain additional knowledge related to high-grade modeling & targeting, grade reconciliation, and mineral deposit modeling to define new drill targets in the vicinities of the existing historical mines. The following activities using private local operators have been achieved since January 2024. The current activities are concentrated in the San Juan and La Colorada sites due to the proximity of the target areas to the surface and third-party owned processing plants.

Bulk Sampling Test Mining at the historical mines is expected to continue through 2024. The Program has the potential to unveil valuable geological information to better define high-grade Ag mineralized zones in these locations. This will allow low-cost preparation of sites for future drilling, aiming to continue resource growth in the Plomosas Project.

GR Silver Mining's Plomosas Project (Figure 1) exploration programs in 2023 and earlier, included detailed underground mapping, which defined geological structures without surface expression but with evidence of high-grade Ag mineralization. Current BSTM Program activities in the Project's historical mines could provide the Company with a low-cost platform for the definition of new targets for drilling, discovery and, potentially, resource expansion. The Company has implemented QA/QC procedures, including inserting blank, duplicate, and standard samples in all sample lots sent to Act Labs de México, S.A. de C.V. laboratory facilities in Sonora, Mexico, for sample preparation and assaying.

The analytical methods are four acid Digest and Inductively Coupled Plasma Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits (>10 ppm). The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, P. Geo., President & COO for GR Silver Mining, who has reviewed and approved its contents.