Mr. Marcio Fonseca reports

GR SILVER ANNOUNCES $12 MILLION BOUGHT DEAL LIFE OFFERING OF UNITS

GR Silver Mining Ltd. has entered into an agreement with Research Capital Corp. as the sole underwriter and sole bookrunner, pursuant to which the underwriter has agreed to purchase, on a bought deal basis, 60 million units of the company at a price of 20 cents per unit for aggregate gross proceeds to the company of $12-million.

Each unit shall comprise one common share of the company and one-half of one common share purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 28 cents per common share for a period of 36 months following closing of the offering.

The net proceeds from the offering of the units will be used for advancement of the company's Plomosas project in Mexico, working capital and general corporate purposes.

The company has granted to the underwriter an option to increase the size of the offering by up to an additional number of units, and/or the components thereof, that in aggregate would be equal to 15 per cent of the total number of units to be issued under the offering, exercisable at any time up to 48 hours prior to the closing of the offering.

The units will be offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions, as amended by CSA Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, in all provinces of Canada, except Quebec, and other qualifying jurisdictions, including the United States. The units offered under the listed issuer financing exemption will be immediately free-trading under applicable Canadian securities laws.

There is an offering document related to this offering that can be accessed under the company's profile at SEDAR+ and at the company's website. Prospective investors should read this offering document before making an investment decision.

The closing of the offering is expected to occur on or about Aug. 12, 2025, or such other earlier or later date as the underwriter may determine. Closing is subject to the company receiving all necessary regulatory approvals, including the conditional approval of the TSX Venture Exchange.

The underwriter will receive a cash commission of 6.0 per cent of the aggregate gross proceeds of the offering and such number of broker warrants as is equal to 6.0 per cent of the number of units sold under the offering. Each broker warrant entitles the holder to purchase one unit at an exercise price equal to the offering price for a period of 36 months following the closing.

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 the Plomosas project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial area. Recent discoveries in the 78 square kilometres of highly prospective, advanced-stage exploration concessions position the company well for resource expansion at the Plomosas project.

We seek Safe Harbor.