Mr. Andre van Niekerk reports

GATOS SILVER ANNOUNCES RESULTS OF ANNUAL STOCKHOLDERS' MEETING

Gatos Silver Inc.'s stockholders voted in favour of all items of business at the company's annual meeting of stockholders held on Sept. 6, 2023. A total of 57,943,220 votes were cast or represented by proxy at the meeting, representing 83.78 per cent of the outstanding shares of common stock as of the record date. A total of 53,617,959 votes (including for and withheld but excluding non-votes) were voted in connection with the election of directors.

The results on the election of directors are set out herein (excluding non-votes).

                 VOTING RESULTS FOR ELECTION OF DIRECTORS

Name of nominee             Votes for   % for   Votes withheld   % withheld

Janice Stairs              47,792,924   89.14        5,825,035        10.86   
Dale Andres                53,368,392   99.53          249,567         0.47   
Ali Erfan                  53,256,482   99.33          361,477         0.67   
Igor Gonzales              53,259,442   99.33          358,517         0.67   
Karl Hanneman              51,841,262   96.69        1,776,697         3.31   
Charles Hansard            47,794,427   89.14        5,823,532        10.86   
David Peat                 47,795,085   89.14        5,822,874        10.86   
Daniel Muniz Quintanilla   53,292,047   99.39          325,912         0.61   

At the meeting, stockholders also ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for the year ended Dec. 31, 2022, and the year ending Dec. 31, 2023. The results are 57,269,555 votes for, representing 98.84 per cent of the votes cast or represented by proxy.

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 Los Gatos joint venture, the company is primarily focused on operating the Cerro Los Gatos mine and on growth and development of Los Gatos district. The LGJV includes approximately 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.