Mr. Andre van Niekerk reports

GATOS SILVER ANNOUNCES FILING OF UPDATED TECHNICAL REPORTS

Gatos Silver Inc. has filed a technical report summary prepared in accordance with Subpart 1300 of Regulation S-K with the Securities and Exchange Commission, and a corresponding technical report prepared in accordance National Instrument 43-101 -- Standards of Disclosure for Mineral Projects on SEDAR+ (collectively, the 2023 technical reports).

The 2023 technical reports, titled "Mineral Resource and Mineral Reserve Update, Los Gatos Joint Venture, Chihuahua, Mexico," dated Oct. 20, 2023, support the disclosure made by the company in its Sept. 6, 2023, press release announcing an updated Cerro Los Gatos mineral reserve, mineral resource and life-of-mine plan.

The 2023 technical reports are also available on the company's website.

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.