Guanajuato Silver Company Ltd. (the Company or GSilver) announces that as part of a scheduled program to update GSilver's NI 43-101 technical reports and resource estimates for all of its producing mines in Mexico, the Company is presenting positive results from its new preliminary economic assessment of GSilver's 100% owned El Cubo Mines Complex located in Guanajuato, Mexico titled Preliminary Economic Analysis ­ El Cubo/El Pinguico Silver Gold Complex Project, State of Guanajuato, Mexico (the 2023 PEA). The 2023 PEA, was prepared by Behre Dolbear & Company (USA) Inc. (Behre Dolbear) in accordance with National Instrument 43-101 (NI 43-101), is dated June 23, 2023, with an effective date of December 31, 2022. Life of Mine and Production Forecasts.

the Cash Flow Model Incorporates A 6-Year Operating and Development Period Prepared on the Basis of the Diluted Tonnages. At Steady State, the Average Monthly Targeted Production Rate Is 36,250 Tonnes Per Month for an Average Annual Total of 435,000 Tonnes Per Year Mined and Processed. the Overall Projected Base Case Production.