Mr. Andre van Niekerk reports

GATOS SILVER ANNOUNCES REVOCATION OF MANAGEMENT CEASE TRADE ORDERS

Effective July 4, 2023, the Ontario Securities Commission has fully revoked the management cease trade orders previously granted in respect of certain former and current senior officers of Gatos Silver Inc. on April 1, 2022, April 12, 2022, and July 7, 2022.

About Gatos Silver Inc.

Gatos Silver is a silver-dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua state, Mexico. As a 70-per-cent owner of the Los Gatos joint venture (LGJV), the company is primarily focused on operating the Cerro Los Gatos mine and on growth and development of the Los Gatos district. The LGJV consists of over 103,000 hectares of mineral rights, representing a highly prospective and underexplored district with numerous silver-zinc-lead epithermal mineralized zones identified as priority targets.