Mr. Eric Zaunscherb reports

GR SILVER MINING COMPLETES $670,000 NON-BROKERED PRIVATE PLACEMENT FINANCING

GR Silver Mining Ltd. has closed the non-brokered private placement previously announced on Jan. 17, 2024. Under the offering, the company has issued 6.7 million units for gross proceeds of $670,000. In connection with the offering, the company paid a total of $35,820 and issued a total of 358,200 warrants as finders' fees. Each finder's warrant is exercisable for one common share at a price of 15 cents for two years.

All securities issued under the offering are subject to a hold period expiring June 10, 2024, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

"GR Silver Mining is grateful for the ongoing support of its shareholders. Management has been working very hard through very challenging markets to execute several strategic initiatives, which it hopes will bear fruit in the near term," commented chief executive officer and chair Eric Zaunscherb. "We continue to highlight the many attributes of the Plomosas project, including a robust resource, exceptional exploration potential, existing infrastructure and permitting, and excellent technical and financial teams on site ready to be reactivated."

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, southeastern Sinaloa state, Mexico. GR Silver Mining controls 100 per cent of two past-producing precious metal underground and open-pit mines within the expanded Plomosas project, which includes the integrated San Marcial area. In conjunction with a portfolio of early-to-advanced-stage exploration targets, the company holds 734 square kilometres of concessions containing several structural corridors totalling over 75 kilometres in strike length.

We seek Safe Harbor.