VANCOUVER - Guanajuato Silver Company Ltd. (the 'Company' or 'GSilver') (TSXV: GSVR) (OTCQX: GSVRF) is pleased to announce that it has closed the purchase of Great Panther Mining Ltd.'s Mexican subsidiary Minera Mexicana Rosario S.A. de C.V. ('MMR'), which owns the currently operating Topia mine and production facility in the state of Durango, Mexico, and the San Ignacio mine, the Valenciana Mine Complex, and the Cata processing plant in Guanajuato, Mexico, first announced in the Company's news release of June 29, 2022.
Highlights
GSilver expands to five mines and three production facilities.
Production from San Ignacio expected to restart within 90 days
Continued production from the Topia Mine anticipated to exceed 1.1 million AgEq ounces this year.
Closing the MMR Acquisition
GSilver and Great Panther closed the MMR Acquisition on August 4, 2022 with the execution of customary closing documents in Mexico and Canada and with the payment to Great Panther of US$14,700,000, subject to certain closing adjustments, satisfied with US$8,000,000 in cash and the delivery to Great Panther of 25,787,200 common shares of the Company.
Chairman and CEO James Anderson commented, 'We look forward to integrating our new assets with current operations expeditiously. GSilver plans to restart the San Ignacio mine as soon as practicable, and deliver its silver and gold mineralized material to our El Cubo plant for processing. In the months ahead, we plan to do the same at the Valenciana Mine Complex - shipping mineralized material to El Cubo for processing - prior to re-starting the Cata mill in 2023. Meanwhile, at Topia, our other new asset, work will begin immediately to assess optimization opportunities to existing operations in both the mine and the plant.'
About Guanajuato Silver Company Ltd.
GSilver mines and processes silver and gold concentrate from its El Cubo, Valenciana, San Ignacio and Pinguico mines in Guanajuato, Mexico and from its Topia mine in Durango, Mexico.
Contact:
Tel: +1 (604) 723-1433
Email: jjj@gsilver.com
Web: www.GSilver.com
Forward-Looking Information and Statements
This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the ability of GSilver to re-start mining operations at San Ignacio and Valenciana and truck mineralized material to El Cubo for processing in the capacity and on the timetable presently contemplated, the estimated production at Topia for 2022 and the ability of GSilver to improve the efficiency of mining operations thereat, the ability and timetable for GSilver to re-start processing of mineralized material at the Cata processing plant, the potential mineral resources at San Ignacio, Valenciana and Topia, and the ability of GSilver to successfully integrate San Ignacio, Valenciana and Topia into its current mining operations as planned and in accordance with its proposed timeline. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. There are no assurances that GSilver will successfully integrate MMR's mining properties into its current operations as presently contemplated or at all. In addition, there is continued uncertainty surrounding the spread and severity of COVID-19, the ongoing war in Ukraine, rising inflation and interest rates (domestically and abroad) and the impact they will have on the Company's operations, supply chains, ability to access the MMR properties, El Cubo and/or El Pinguico or procure equipment, contractors and other personnel or raise capital on a timely basis or at all and economic activity in general. All the forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com and readers should not place undue reliance thereon. The forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
GUANAJUATO SILVER COMPANY LTD. 
