Guanajuato Silver Company Ltd. provided a corporate update highlighted by the appointment of Carlos A. Silva as Chief Operating Officer ("COO"). With a career spanning over 35 years, Mr. Silva has proven serially successful at advancing, expanding, and managing mining operations within Mexico & Bolivia. Like many of GSilver's employees, Mr. Silva is a graduate of mine engineering from the University of Guanajuato; he holds an MBA from ITESM, and he is a graduate of IPADE Business School.

After an initial career of continually taking roles of greater responsibility overseeing different types of deposits such as gypsum, manganese, gold, silver and polymetallic deposits, notably with the La Fortuna mine in Sinaloa, and the San Dimas mine in Durango, he began working with Trafigura in 2007, where he expanded the Zimapan mine project in the state of Hidalgo. Mr. Silva co-founded Carrizal Mining in 2009, where he led the re-start and expansion of the Zimapan mine. In 2017 he joined Santacruz Silver Mining Ltd., first as COO, and then as CEO, vending his company Carrizal Mining into Santacruz Silver in the process.

Mr. Silva left Santacruz Silver in August of this year, having helped that company expand its production profile from just 815,000 silver-equivalent ounces in 2018 to 19,600,000 ounces of silver-equivalent production in 2022. Mr. Silva replaces Mario Valdez Bustillos, who was promoted from VP Operations to Co-Chief Operating Officer in April, 2023.