GR Silver Mining Ltd. outlined its vision to continue resource growth on its wholly owned Plomosas Silver Project in Sinaloa, Mexico, through the remainder of 2023, including an update on exploration plans and corporate initiatives. Highlights: A sod g geological model with proven efficacy based on modern exploration has ovided a foundation of growth for GR Silver Mining. One of the Company's drill rigs has been mobilized to cost-effectively test the highly prospective target contact to the southeast of the SE Area discovery, aiming for further resource expansion while generating continued news flow.

Based on the recently filed National Instrument 43-101 Technical Report, a 12,500-metre drill program has been recommended pending board approval, largely in the San Marcial Area, stepping out along strike from the mineral resource eastern limit in the SE Area discovery, targeting incremental resource growth. GR Silver owns 100% of the Plomosas Project with title and operating permits for core concessions granted under the previous mining law regime. The company currently see no immediate impact from changes in Mexican mining legislation.

Cash management initiatives have commenced to reduce overhead and prioritize funds dedicated to exploration and drilling in Mexico. On May 4, GR Silver Mining announced (News Relse) the filing of the Nationalal Instrument 43-101 Technical Report (NI 43-101) for the wholly owned, 432 km(2) Plomosas Silver Project In Sinaloa, Mexico. The full NI 43-101 dated May 3rd, 2023, with an effective date of March 15th, 2023, is entitled "Technical Report and Mineral Resource Update for the Plomosas Project".

The report was prepared for GR Silver Mining by Dr. Gilles Arseneau, P.Geo. of ARSENEAU Consulting Services Inc. The resource update resulted from the talent, experience, and hard work of geological team as they made an important new discovery successfully applying modern exploration on this prospective district-scale project. A total of 75 GR Silver Mining drill holes (10,500 metres) were added to the 52 holes used in the previous resource estimate, totalling 122 holes (19,000 metres) for the San Marcial Area including the SE Area discovery.

At the Plomosas Mine Area, a total of 223 drill holes (16,380 metres) were drilled in specific areas of the existing underground historical mine as part of the infill drilling program. A total of 424 drill holes (60,020 metres) comprises the database supporting the new 3D geological modelling including the SE Area discovery and Resource Estimate. The total Indicated resource grew to 15 million tonnes averaging 117 g/t silver (Ag) for 55 million ounces Ag, or 179 g/t silver equivalent (Ag Eq) for 85 million ounces Ag Eq.

The total Inferred resource grew to 9 million tonnes averaging 78 g/t Ag for 22 million ounces Ag, or 171 g/t Ag Eq for 49 million ounces Ag Eq. Relative to the previous resource estimates, Indicated Ag ounces grew 72% while Ag Eq ounces grew 83%. On an Inferred basis, Ag ounces grew 20% while Ag Eq ounces grew 48%.

The Plomosas Project is distinct from many other projects in Mexico due to the existence of attractive mineralization at shallow depths with exceptional widths: true widths of the modelled domains average 20 metres at the Plomosas Mine Area and 22 metres at the San Marcial Area. In general, wide mineralized widths allied with shallow depth could indicate amenability to more mechanized mining methods and, consequently, potentially lower mining costs.