GR Silver Mining Ltd. announced additional underground drilling results in the Plomosas Mine Area as part of the 2022 infill and exploratory drilling program at the Company's wholly-owned Plomosas Project in Sinaloa, Mexico. The drilling had the following objectives: Drilling at specific locations where recent geological modelling has indicated the presence of high-grade precious metal epithermal veins, which demonstrate the existence of high-grade mineralization below existing underground workings; Define the geometry and boundaries of silver – gold mineralization and detail participation of precious metals mineralization in the upcoming resource estimation update; and   Confirm presence of high-grade gold epithermal veins in the hanging wall and footwall of the main mineralized zone in new areas of the historic underground mine. The 35 drill holes being reported in this announcement were all drilled from within the historic Plomosas Mine Area, mainly below the 900 level, and represent the penultimate batch of drill results to be incorporated into the resource estimation at the Plomosas Mine Area.

Gold highlights from the underground drilling results (Down hole widths): PLIP22-30:   14.1 m at 2.67 g/t Au and 69 g/t Ag (353 g/t AgEq) including:  0.6 m at 40.18 g/t Au and 219 g/t Ag (4,075 g/t AgEq) PLI22-52: 9.9 m at 1.91 g/t Au, including 0.25 m at 64.50 g/t Au In addition, the drilling results continue to reveal attractive high-grade silver-polymetallic mineralization in unmined areas at the lower levels of the historic underground mine.  Drill hole results such as those highlighted below, continue to demonstrate the potential to incorporate wide and attractive polymetallic results into the upcoming resource estimation. PLIP22-29: 22.0 m at 1.01 g/t Au, 55 g/t Ag, 3.1% Pb, 4.8% Zn and 0.2% Cu (441 g/t AgEq) including:  3.0 m at 5.42 g/t Au, 299 g/t Ag, 1.8% Pb, 9.7% Zn and 0.6% Cu (1,291 g/t AgEq) PLIP22-35: 18.5 m at 1.08 g/t Au, 20 g/t Ag, 0.5% Pb, 1.5% Zn and 0.3% Cu (221 g/t AgEq) including: 0.8 m at 6.09 g/t Au, 46 g/t Ag, 2.7% Pb, 8.4% Zn and 0.8% Cu (1,105 g/t AgEq) PLIP22-42:   3.1 m at 1.97 g/t Au, 50 g/t Ag, 19.7% Pb, 15.6% Zn and 0.3% Cu (1,422 g/t AgEq) The Plomosas Mine Area drilling program has been completed and one batch of assays is pending to be processed and incorporated into the resource estimation, expected to be published later in first quarter 2023. The program has achieved its objectives of replacing some specific areas where zero values were adopted in the previous resource estimation, but also, more importantly, defining the presence of high-grade gold and silver zones which form part of a distinct mineralizing event, hosted within the same structure as well as the footwall and hanging wall of the Plomosas Breccia.

These results provide vital data to be introduced in the resource estimation, aiming to increase the percentage participation of precious metals in the Plomosas Mine Area resource update. At deeper levels in the historic mine, the presence of cross-cutting structures is common intersecting the main mineralized zone, creating pod-shaped geometries with the presence of multiple veinlets, defining wide zones (up to 20 metres) carrying gold and silver mineralization. High-grade gold hosted by narrow epithermal veins returned values such as 0.6 m at 40.2 g/t Au from hole PLIP22-30 and 0.25 m at 64.5 g/t Au from hole PLI22-52, which are part of a much wider mineralized system.

GR Silver Mining completed the infill drilling program at the Plomosas Mine Area at the end of 2022 and final assays are being received and processed. This program added approximately 11,750 metres of core drilling (186 holes) in specific areas of the existing NI 43-101 resource block model, achieving the key objectives and supporting more detailed geological mineralization modelling, while also enhancing the silver and gold grade distribution in the upcoming resource estimate.