Mr. Eric Zaunscherb reports

GR SILVER MINING ANNOUNCES INCENTIVE PLAN GRANTS

Pursuant to an omnibus equity incentive plan, GR Silver Mining Ltd. has granted to certain directors, officers, employees and consultants of the company and/or its subsidiaries incentive stock options to purchase up to an aggregate of 4,135,000 common shares. The options will vest as to 50 per cent on the date of grant and 50 per cent on the first anniversary of the date of grant. The options are exercisable at 38 cents per share for a period of five years from the date of grant and are subject to the terms of the omnibus plan and the policies of the TSX Venture Exchange.

The company also announces that pursuant to the omnibus plan and subject to TSX-V policies, it has granted an aggregate of 1,322,566 performance share units to certain executive officers of the company. The PSUs will vest one year after their date of grant on successful completion of specific short-term key performance indicators and provided that at such date the grantee is an executive officer or other eligible participant under the omnibus plan. Once vested, each PSU entitles the holder thereof to receive either one common share of the company, the cash equivalent of one common share, or a combination of cash and common shares, as determined by the company, net of applicable withholdings.

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 both the high-grade silver discovery at the San Marcial area and the former Plomosas underground mine. 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.