Guanajuato Silver Company Ltd. announced that Ramon Davila is stepping down as President and a member of the Board of Directors. Like many of Guanajuato Silver's employees, Mr. Davila is a proud graduate of the mining school at the University of Guanajuato School of Mines, where he obtained a degree in Mining &Metallurgical Engineering. After graduating in 1975, he went on to establish an extraordinary career, focused exclusively within Mexico, that cemented his reputation as a notable mine builder, an accomplished public servant, and an influential advocate for the mining industry.

Mr. Davila started his career with Industrias Penoles, S.A. de C.V., where he spent 11-years with the then pre-eminent silver mining firm in Mexico; his work at Peoles exemplified a career where he has helped to grow some of the world's largest silver producers into the international industry leaders they are. From 1994 to 1998 Mr. Davila was the Chairman and CEO of Minas La Colorada SA, where he developed the La Colorada mine and then sold it to Pan American Silver Corp.; the mine remains the largest silver producer within Pan American Silver's portfolio. Following the sale of the Colorada mine, from 1998 to 2003, Mr. Davila was responsible for all Mexican operations for Pan American Silver Corp., one of the world's premier mining companies.

From 2004 to 2014, Mr. Davila was Chief Operating Officer and a member of the Board of Directors of First Majestic Silver Corp. During a 10-year period, he led a team that created five new silver mining operations in Mexico, which transformed a new company with no producing assets and just a few employees into Mexico's second largest silver producer, with over 12 million ounces of silver equivalent production per year and more than 4000 employees. The rapid rise of First Majestic, under the guidance of Mr. Davila, is one of the most notable success stories within the precious metals space.

As the Minister of Economic Development for the State of Durango, Mexico, a post he held from 2016 to 2020, Mr. Davila helped advance many resource projects over his four-year term, and in the process, dramatically improved upon the State's financial situation.