GRSL.V · 2022-02-17 12:00:00

GR Silver Mining Defines New High-Grade Gold Zones Parallel to the Plomosas Vein System, Including 0.4 m at 9.7 g/t Au and 2.0 m at 4.45 g/t Au

Drill Results

GR Silver Mining Defines New High-Grade

Gold Zones Parallel to the Plomosas Vein

System, Including 0.4 m at 9.7 g/t Au and 2.0 m

at 4.45 g/t Au

VANCOUVER, BC

Feb. 17, 2022

/CNW/ -

GR Silver Mining Ltd. ("GR Silver Mining"

or the

"Company")

(TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to report first

exploration results for the Trampolín and Corta Pico vein systems, representing a set of N-S and

NE-SW trending veins, located between the Plomosas and Loma Dorada vein systems. The

Trampolín vein system can be considered the NE extension of the San Juan vein system, expanding

the footprint of Au mineralization over

1,300 m

to the NE (Figure 1). The results from Trampolín and

Corta Pico confirm the presence of two Au-rich epithermal vein systems with the potential for higher-

grade Au and Ag mineralization at depth. Mineralization at Trampolín and Corta Pico remains open

along strike and down dip for future drilling.

Highlights:

Surface channel results from the Corta Pico vein system indicate the presence of high-

grade Au-Ag mineralized veins:

4.1 m

at 1.35 g/t Au and 6 g/t Ag (TPS21-CH-019),

including:

0.4 m

at 9.70 g/t Au and 44 g/t Ag

4.5 m

at 2.50 g/t Au and 57 g/t Ag

(

TPS21-CH-006

), including:

2.0 m

at 4.45 g/t Au and 112 g/t Ag

First drill results received from the 2021 drilling program at Trampolín confirm an

attractive wide Au mineralized system supported by nearby historical shallow workings:

12.0 m

at 0.64 g/t Au and 2 g/t Ag (TPS21-01), including:

0.8 m

at 3.38 g/t Au and 1 g/t Ag

7.2 m

at 0.44 g/t Au and 6 g/t Ag (TPSP21-001), including:

1.2 m

at 1.16 gt/ Au and 10 g/t Ag

GR Silver Mining President and CEO,

Marcio Fonseca

commented

"The first drill results from

the exploration program at Trampolín and Corta Pico show indications of an attractive epithermal

vein system between Loma Dorada and the Plomosas Mine Area. The abundance of unexplored

veins on surface, in parallel structures close to our existing resource areas, continues to underline

the potential for multiple vein systems within the Plomosas Project. More importantly, these new

discoveries serve to reinforce our exploration model and targeting strategy to continue to delineate

multiple high-grade, precious metal veins with potential to add to future resource expansion. The

Trampolín and Corta Pico targets are in the early stages of exploration and our team will continue

to investigate their precious metal potential."

Trampolín

The Trampolín vein system can be considered the NE extension of the San Juan vein system,

expanding the footprint of gold mineralization over

1,300 m

to the NE (Figure 1). The Company has

so far received assay results for two drill holes; one HQ diameter diamond drill hole of

183 m

length

(TPS21-01) testing the vein at

75 m

depth, and a shorter

7.2 m

BQ diameter, portable diamond drill

hole (TPSP21-001) intercepting the near-surface expression of the same vein and testing its vertical

continuity (Table 3). The vein is composed of a quartz-cemented crackle breccia with small amounts

of galena and pyrite, hosted within an andesitic ignimbrite.

Significant results from the most recent drilling at Trampolín are shown in Table 1.

Corta Pico

The Corta Pico vein system is located

800 m

E of the Trampolín vein system (Figure 1). It consists

of NE-SW to E-W trending veins. GR Silver Mining's surface channel sampling highlights the E-W

trending vein at Corta Pico as highly prospective, with high-grade Au intervals of

2.0 m

at 4.45 g/t Au

and 112 g/t Ag, and

0.4 m

at 9.70 g/t Au and 44 g/t Ag, outlining a Au and Ag-rich target for

additional exploration.

Significant results from the channel sampling at Trampolín and Corta Pico are shown in Table 2.

Table 1: Trampolín Drill Results

Drill Hole

From

(m)

To (m)

Apparent

width

(m)

Au g/t

Ag g/t

Pb %

Zn %

TPS21-01

70.0

82.0

12.0

0.64

0.1

0.3

includes

71.7

75.0

3.3

1.77

0.1

0.2

includes

71.7

72.5

0.8

3.38

TPSP21-001

0.0

7.2

0.44

0.2

0.7

includes

1.9

4.4

2.6

0.99

0.1

0.6

includes

3.2

4.4

1.2

1.16

0.1

0.6

* Widths are apparent widths only. Insufficient structural information is available at this stage to estimate true

width with confidence. "na" = no significant result. Numbers are

rounded.

Figure 1: Geological Map of the Trampolín and Corta Pico Vein Systems (CNW Group/GR Silver

Mining Ltd.)

Note: See the

News Release dated February 10, 2022

dated February 10, 2022 for additional details.

Table 2: Selective Trampolín and Corta Pico Channel Sample Results

Channel

Sample

From

(m)

To (m)

Apparent

width

(m)

Au g/t

Ag g/t

Pb %

Zn %

TPS21-CH-006

2.8

7.3

4.5

2.50

includes

2.8

4.8

2.0

4.45

112

TPS21-CH-016

0.0

1.0

0.21

TPS21-CH-019

12.6

16.7

4.1

1.35

includes

12.6

13.0

0.4

9.70

0.1

and

15.0

15.7

0.7

1.95

Widths are apparent widths only. Insufficient structural information is available at this stage to estimate true width with confidence. "na" = no significant result. No relevant

assays for channels TPS21-CH-001 – 005, 007 – 015, 017 – 018. Numbers are rounded.

Table 3: Trampolín Drill Hole Coordinates

Drill Hole

East (m)

North (m)

(m)

Dip (

)

Azimuth (

)

Depth (m)

TPS21-01

448692

2551607

897

-45

183

TPSP21-001

448720

2551582

911

-40

7.24

Note: All holes are surface drill holes.

Table 4: Corta Pico Channel Sample Coordinates

Channel

Sample

East (m)

North (m)

(m)

Dip (

)

Azimuth (

)

Length (m)

TPS21-CH-006

449348

2551545

797

325

7.3

TPS21-CH-016

449361

2551546

797

1.0

TPS21-CH-019

449647

2551631

748

360

16.7

Qualified Person

The scientific and technical data contained in this News Release related to the exploration program

were reviewed and/or prepared under the supervision of

Marcio Fonseca

, P. Geo. He has approved

the disclosure herein.

About GR Silver Mining Ltd

GR Silver Mining is a Canadian-based,

Mexico

-focused junior mineral exploration company engaged

in cost-effective silver-gold resource expansion on its 100%-owned assets, located on the eastern

edge of the Rosario Mining District, in the southeast of Sinaloa State,

Mexico

. GR Silver Mining

controls 100% of two past producer precious metal underground and open pit mines, within the

expanded Plomosas Project, which includes the integrated San Marcial Area and

La Trinidad

acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the

Company holds 734 km

of concessions containing several structural corridors totaling over 75 km in

strike length.

GR Silver Mining Ltd.

Mr.

Marcio Fonseca

, P. Geo.

President & CEO

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking statements" within the meaning of applicable

Canadian securities legislation and information that are based on the beliefs of management and

reflect the Company's current expectations. When used in this press release, the words "estimate",

"project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the

negative of these words or such variations thereon or comparable terminology are intended to

identify forward-looking statements and information.

Such statements and information reflect the current view of the Company. Risks and uncertainties

may cause actual results to differ materially from those contemplated in those forward-looking

statements and information. By their nature, forward-looking statements involve known and

unknown risks, uncertainties and other factors which may cause our actual results, performance or

achievements, or other future events, to be materially different from any future results,

performance or achievements expressed or implied by such forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy

or accuracy of this press release.

SOURCE

GR Silver Mining Ltd.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/February2022/17/c7797.html

%SEDAR: 00040149E

For further information:

Brenda Dayton, VP Corporate Communications, Telephone:

+1.604.558.6248, Email: [email protected]

CO: GR Silver Mining Ltd.

CNW 06:00e 17-FEB-22

← Back to feed