Mr. Marcio Fonseca reports

GR SILVER MINING DRILLS WIDE SILVER INTERCEPTS AT SAN MARCIAL: SMS25-08 RETURNED 19.9 M AT 250 G/T AGEQ*, INCLUDING 1.3 M AT 954 G/T AGEQ AND A NEW GOLD-SILVER MINERALIZED VEIN OF 1.0 M AT 1,685 G/T AGEQ

GR Silver Mining Ltd. has released drilling results from the continuing stepout drilling program (stepout drilling) adjacent to the 2023 National Instrument 43-101 mineral resource (resource area) at the San Marcial area, Plomosas project, Sinaloa, Mexico.

Drilling at the Parallel Breccia target that hosts the latest results is designed to explore the down-dip continuity of anomalous surface channel silver results in the vicinity of the resource area boundary, stepping out to the west along major northeast-oriented faults.

Drilling activity on site remains focused on exploring the potential to increase the resource area in the three principal targets outlined in Figure 1 shown in the original version of this news release. Assay results are pending from drill holes currently being drilled down plunge in the SE Deep extension of the resource area.

Highlights of stepout drilling at the Parallel Breccia target, San Marcial:

• SMS25-08 was drilled to test the down-dip continuity of silver mineralization 45 metres below historical trench results (SMTr-022: 24 metres at 219 g/t AgEq), targeting a perpendicular orientation to the northeast structures and their intersections with northwest-oriented regional structures, for the first time. The presence of mineralization at these intersections oriented toward the northeast represents a potential opportunity for resource expansion at this target.
• SMS25-08 intersected a wide, predominantly silver-mineralized intercept hosted in hydrothermal breccia, 19.9 m at 250 g/t AgEq, starting at a shallow down-hole depth of 21.5 metres and includes a high-grade silver intercept, 1.3 m at 954 g/t AgEq.
• SMS25-08 also includes multiple zones with attractive results that are within the wide silver mineralized zone, such as 3.7 m at 557 g/t AgEq and 4.2 m at 350 g/t AgEq.
• SMS25-08 was extended to a depth of 244.5 metres to investigate the presence of silver and gold mineralization related to northeast-oriented structures on the edge of the large chargeability geophysical anomaly. The hole successfully discovered a new high-grade gold-silver epithermal vein grading 1,685 g/t AgEq (24.6 g/t Au and 13 g/t Ag), over 1.0 m.
• SMS25-07A was drilled to test the continuity of silver mineralization 125 metres along strike from SMS25-04, which contained 36 m at 114 g/t AgEq.
• SMS25-07A intersected multiple zones of wide silver mineralization at shallow depth, including 11.1 m at 71 g/t AgEq, representing a target for future drilling follow-up at depth.

GR Silver Mining's president and chief executive officer, Marcio Fonseca, commented: "Each batch of drill results received from the stepout drilling program increases the prospective scale of the San Marcial area, potentially unlocking a much larger resource. The continuity of high silver grades and broad widths of predominant silver mineralization encountered at shallow depths, as revealed by the stepout drilling, supports the opportunity to continue drilling and expanding resources in the vicinity of the San Marcial resource area. We await additional assay results now from the SE Deep extension target, which we believe will potentially lead to an extension of mineralization below existing resource boundaries."

Drilling is continuing with two diamond drill rigs, focusing on the SE Deep extension target and the Parallel Breccia target. The discovery of high-grade silver and gold mineralization at relatively shallow depth, combined with the interpretation of the intersection of northeast and northwest structures, suggests that the resource area remains open in multiple directions. The company continues to gain a detailed understanding of the geometry of mineralization by using oriented core sampling combined with 3-D structural and geochemical modelling.

The recently updated geological map, integrating all recent 3-D modelling, is delineating a regional intrusive related system with development of potential hydrothermal breccias, hosting silver mineralization in association with regional faults and high porosity and permeability volcanic units. Encouraging results from the drill program to date support opportunities for potential resource expansion at the San Marcial area.

About the Plomosas project

The Plomosas project, including the recent high-grade silver discovery in the San Marcial SE area, is progressing in 2025 as an emerging high-grade silver district located in southwestern edge of the Sierra Madre Occidental, Sinaloa, Mexico. The Plomosas project, covering 43,187 hectares, including the historical Plomosas Underground mine. Benefits from mine infrastructure, road access and existing permits associated with past-producing mining sites. The district contains intermediate 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 stepout drilling is under way in 2025, aiming for continuous resource growth. At the historical Plomosas mine, where Grupo Mexico operated the underground mine from 1985 to 2000, exploration, underground sampling and metallurgical programs are being conducted to support future decisions regarding the implementation of a bulk sampling test mining program

QA/QC (quality assurance/quality control) procedures

The company has implemented QA/QC procedures, which include the insertion of blank, duplicate and standard samples in all sample lots sent to SGS de Mexico S.A. de C.V. laboratory facilities in Durango, Mexico, for sample preparation and assaying. For every sample with results above Ag greater than 100 parts per million (over the limit), these samples are reassayed by SGS de Mexico. Core samples are represented by both HQ and NQ diameters and samples are represented by one-half core split of original core. The analytical methods include four-acid digestion and inductively coupled plasma optical emission spectrometry, with lead fusion fire assay and a gravimetric finish for silver above overlimits. For gold assays, the analytical methods are lead fusion and atomic absorption spectrometry, lead fusion fire assay, and gravimetric finish for gold above overlimits (greater than 10 ppm).

Qualified person

The qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects for this news release is Marcio Fonseca, PGeo, president and chief executive officer for GR Silver Mining, who has reviewed and approved its contents.

About GR Silver Mining Ltd.

GR Silver Mining is a Canadian-based, Mexico-focused 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.

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