Mr. James Anderson reports

GUANAJUATO SILVER RECEIVES TSXV CONDITIONAL APPROVAL FOR BOLANITOS ACQUISITION

Further to Guanajuato Silver Company Ltd.'s news release dated Nov. 24, 2025, announcing the signing of a definitive agreement to acquire the Bolanitos gold-silver mine located in Guanajuato, Mexico, from Endeavour Silver (see Guanajuato Silver news release dated Nov. 24), the company has received conditional approval from the TSX Venture Exchange to proceed with the acquisition. The company is working to satisfy the conditions associated with the TSX-V conditional approval and the remaining conditions associated with the closing of the acquisition.

James Anderson, chairman and chief executive officer, said: "The acquisition of the Bolanitos mine will be a genuinely transformative transaction for Guanajuato Silver. Bolanitos is poised to become our most significant mine, and we remain on track for completion of the transaction in January, 2026."

About Guanajuato Silver Company Ltd.

GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo mines complex, the Valenciana mines complex and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the company produces silver, gold, lead and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest-growing silver producers in Mexico.

We seek Safe Harbor.