Mr. Eric Zaunscherb reports

GR SILVER MINING ANNOUNCES BOARD AND MANAGEMENT CHANGES

GR Silver Mining Ltd. has made several board and management changes aiming to position the company for continued growth under current market conditions.

The company has accepted the resignation of Gino DeMichele for personal reasons from its board of directors. Mr. DeMichele has been a director of the company and its predecessor company since April, 2017, providing highly valuable guidance and support over the many years. GR Silver Mining welcomes the addition of two new directors to its board of directors -- Fernando Berdegue de Cima and Trevor Woolfe.

Mr. Berdegue is a Mazatlan-based entrepreneur with a BA in financial management from Instituto Tecnologico de Monterrey and a master's degree in international management from Instituto de Empresas (IE) Business School in Madrid, Spain. He is a founding partner and chief executive officer of Durango Gold Corp., a private U.S.-based mining exploration company, and was a co-founder and strategic adviser to Tonogold Resources Inc., which consolidated the historic Comstock lode in Nevada and where he proposed an innovative multidisciplinary approach for exploration. He brings to the company a diverse range of education, experiences and interests, including law and humanities, environment, sustainability, governance, venture capital, and responsible mining, including extensive experience in Mexican business as a member of the advisory board of the family business, El Cid Mega Resorts, in Mazatlan, Sinaloa, Mexico. Mr. Berdegue, together with current director Laura Diaz, strengthens the board's knowledge and experience in carrying out business in Mexico.

Mr. Woolfe is known to GR Silver Mining as the company's former vice-president, exploration and corporate development. He joined the company in July, 2018, and had been an important member of the geological team as the company's understanding of mineralization at the Plomosas project and, consequently, the company's mineral resource inventory grew. He was key, together with current exploration management, to the discovery of the SE area, supporting the company's resource growth over the last three years. Mr. Woolfe left the company to return to his native Australia, as announced in the news release dated June 14, 2023; however, his deep knowledge of all operations and assets of the company in Mexico will provide valuable knowledge and experience to support strategic planning in the coming months. He holds a bachelor of science (honours), majoring in geology, from Monash University (Australia). Prior to joining GR Silver Mining, he brought 25 years of exploration, mining and public company management experience, including positions with Australian companies CRA, Metana Minerals NL and Newcrest Mining Ltd., as well as four years with Canadian major Placer Dome in Chile and Brazil. He is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists as well as a graduate of the Australian Institute of Company Directors, and he holds a graduate certificate in applied finance and investment (SIA).

In addition, the company has accepted the resignation of its chief financial officer, Samantha Shorter, for personal reasons. Ms. Shorter was appointed chief financial officer in May, 2023. Blaine Bailey, the company's former chief financial officer, who retired in May, 2023 (see news release dated May 5, 2023), has agreed to return to the company as interim chief financial officer with Ms. Shorter's continued support.

Eric Zaunscherb, chair of the board of directors, stated: "On behalf of the board of directors, the management, and the company's shareholders, I wish to thank Gino DeMichele for his exceptional support since the company's inception. Thank you also to Samantha Shorter for her recent contributions. I wish them both all the best in their future endeavours. I am very pleased to welcome Blaine Bailey back in the role of CFO, knowing the company intimately as he does. Finally, we are honoured to have Fernando Berdegue and Trevor Woolfe joining our board. Fernando brings an intimate understanding of the Mexican business milieu and a passion for developing Mexican mining assets in a responsible manner, while Trevor's knowledge and experience and recent discovery of the SE area will provide valuable input in the strategic planning and growth of resources at the Plomosas project."

About the Plomosas project

The Plomosas project, including the recent high-grade silver SE area discovery in the San Marcial area, is an emerging high-grade silver district located in southern Sinaloa, Mexico. The Plomosas project, covering 43,187 hectares, benefits from mine infrastructure, road access and existing permits associated with past-producing historical mining sites. The district contains intermediate-sulphidation to low-sulphidation epithermal silver and gold mineralization hosted in hydrothermal breccias and veins. Recent success in exploration and drilling has delineated wide, high-grade, shallow hydrothermal breccias in the San Marcial area, including the SE area discovery, where drilling incorporated into the updated March, 2023, Plomosas project mineral resource estimation highlighted an exploration opportunity for continuous resource growth.

About GR Silver Mining Ltd.

GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100-per-cent-owned assets, located on the eastern edge of the Rosario mining district in the southeast of Sinaloa state, Mexico. GR Silver Mining controls 100 per cent of two past-producer precious metal underground and open pit mines within the expanded Plomosas project, which includes the integrated San Marcial area and La Trinidad acquisition. In conjunction with a portfolio of early-stage to advanced-stage exploration targets, the company holds 734 square kilometres of concessions containing several structural corridors totalling over 75 kilometres in strike length.

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