GRSL.V · 2022-06-22 12:00:00

GR Silver Mining Discovers High-grade Shallow Precious Metals Mineralization at the Plomosas Project Including 5.2 m at 4.52 g/t Au and 56 g/t Ag and 0.5 m at 30.09 g/t Au and 76 g/t Ag

Drill Results

GR Silver Mining Discovers High-grade

Shallow Precious Metals Mineralization at the

Plomosas Project

Including

5.2 m

at 4.52 g/t Au and 56 g/t Ag and

0.5 m

at 30.09 g/t Au and 76 g/t Ag

VANCOUVER, BC

June 22, 2022

/CNW/ -

GR Silver Mining Ltd. ("GR Silver Mining"

or the

"Company")

(TSXV: GRSL), (OTCQB: GRSLF) (FRANKFURT: GPE) – announces drilling results

from initial exploration carried out on new areas representing potential step outs from NI 43-101

mineral resources at both the San Juan/La Colorada and Plomosas Mine Areas. The gold (Au) and

silver (Ag) discoveries are in addition to the Company's successful exploration programs reported

earlier this year at the Loma Dorada, Trampolín and Corta Pico vein systems (see News Releases

dated

February 10, 2022

and

February 17, 2022

Highlights:

Exploration results focused on new areas of El Saltito, Las Cuevas and Las Teresas, as well as

the previously reported Loma Dorada vein system

Presence of high-grade Au results, close to the surface, with potential to extend mineralization

along strike from existing resource areas, including:

LDS21-13A:

5.2 m

at 4.52 g/t Au and 56 g/t Ag, including

0.6 m

at 10.17 g/t Au and 340 g/t Ag

ESS21-04:

0.5 m

at 30.09 g/t Au and 76 g/t Ag

CVS21-01A:

0.9 m

at 0.38 g/t Au and 459 g/t Ag

o LTS21-CH-001:

3.5 m

at 1.21 g/t Au and 67 g/t Ag, including

0.4 m

at 9.44 g/t Au and 394 g/t Ag

o CHS21-CH-004:

1.0 m

at 4.98 g/t Au and 314 g/t Ag

Ag mineralization at Las Cuevas supports the upside potential for along strike extension of the

Ag mineralized system up to 1.5 km to the NW of the NI 43-101 resource at the Plomosas Mine

Area

Recent Au-Ag rich drill results indicate the presence of low sulphidation epithermal veining in

multiple areas of the Plomosas Project, which will likely be the subject of additional drilling in

2022

GR Silver Mining Chairman and CEO,

Eric Zaunscherb

commented,

"Our primary focus remains on

delivering updated mineral resource estimates for the San Marcial and Plomosas Mine Areas in

Q1|23. We cannot, however, ignore the rich potential of the wholly owned, 432 km

Plomosas

Project in its entirety, with several strong regional, northwest-trending structures that remain

untested over a combined 75 km strike length. The results released today are an indicator of the

potential of the project's pipeline targets, which we will reveal going forward."

Figure 1:

Location of New Vein System Discoveries – Plomosas Project (CNW Group/GR Silver

Mining Ltd.)

Loma Dorada Drill Program

The latest drill results from the 1 km along strike extension to the north of the San Juan/La Colorada

vein system, intersected high-grade Au-Ag typical of epithermal veins with colloform banded quartz

textures within the predominant NW trend (Figure 1). This structural trend extends to the north of the

San Juan/La Colorada NI 43-101 mineral resource and is part of the NW to N-S trend of Loma

Dorada. There is evidence that structures in this area intersect defining a 'flower' structural pattern

with the potential to develop ore shoots at depth. The shallow results, such as those obtained from

drill hole LDS21-13A, which intersected

5.2 m

at 4.52 g/t Au and 56 g/t Ag, including

1.3 m

at 10.17

g/t Au and 340 g/t Ag (Table 1), encourage the Company to continue drilling for potential resource

delineation.

El Saltito Drill Program

Shallow drilling results revealed narrow high-grade Au-rich epithermal veining at the southern

extension of the 1.5 km long El Saltito vein system (Figure 1). The high-grade gold intercept of

0.5 m

at 30.09 g/t Au from drill hole ESS21-04 (Table 1), is the most SE hole in the area, indicating the

potential for additional high-grade Au mineralization further to the SE. The system is therefore open

to the south, along a structural extension that is exposed/mapped on surface for at least another

500

Las Cuevas – New Discovery

The Las Cuevas vein system is located 1.5 km along strike to the N-NW of the NI 43-101 resource

at the Plomosas Mine Area (Figure 1) and represents a new discovery of Ag-Au mineralization.

Shallow drilling and channel sampling (Table 2) have been successful in discovering high-grade Au

and Ag mineralization at this potential northern extension of the resource area. The mineralization

coincides with a historical high-chargeability geophysical anomaly, and also with a high aeromagnetic

anomaly identified in a ground geophysical survey. This drilling by GR Silver Mining is the first ever

on the Las Cuevas target and, combined with encouraging Ag-Au channel results, provides

justification for a follow up surface drilling program in the near future, aiming to integrate Las Cuevas

with the existing resource area

Las Teresas – New Discovery

Exploration by GR Silver Mining in 2021 and early 2022 on the Las Teresas vein system,

approximately 2 km to the NW of the Loma Dorada mineralization, has been successful in identifying

potential extensions to the Au-Ag low sulphidation vein-style mineralization. Shallow drilling and

surface channels have identified mineralized zones with Au-Ag anomalies that require follow up

drilling.

Las Chorreras – New Discovery

Las Chorreras is located at the western end of Plomosas concession. Historical channel sampling in

the area outlined Au-Ag anomalies on a 1 km long prominent hill with intense argillic alteration.

Recent channel sampling by GR Silver Mining confirmed the discovery of high-grade Au and Ag

mineralization associated with the intense advanced argillic alteration zone. This mineralization

contains pyrite, galena and sphalerite, both disseminated and in irregular stringers, hosted within

andesitic "block and ash" units in contact with dioritic intrusives and rhyolitic dykes. The next stage of

exploration at this new target will involve shallow drilling to confirm the 3-D extension of

mineralization below the positive channel sample results.

Table 1: Plomosas Project New Vein Systems - Drill Results

Drill Hole

From (m)

To (m)

Apparent

width

(m)

True

width (m)

Ag g/t

Au g/t

Comments

LDS21-08

13.7

14.3

0.6

0.5

0.34

Loma Dorada

LDS21-09

66.3

68.2

1.9

1.7

2.55

LDS21-10

135.8

136.5

0.7

0.6

165

2.76

LDS21-11

LDS21-12

213.4

213.7

0.3

0.52

LDS21-13A

103.5

108.7

5.2

4.3

4.52

including

1.5

2.8

1.3

1.1

340

10.17

LDS21-14

60.0

61.0

1.0

1.46

ESS21-01A

113.4

118.4

5.0

3.8

0.41

Includes 2.2m mine void

135.8

136.9

1.1

0.8

1.82

El Saltito

152.2

153.3

1.1

0.8

1.51

238.2

244.4

6.2

4.8

0.40

ESS21-02

ESS21-03

145.2

146.3

1.1

0.26

ESS21-04

203.5

204.0

0.5

30.09

CVSP21-01A

0.0

6.6

6.4

0.17

Las Cuevas

including

3.3

4.2

0.9

459

0.38

CVSP21-02

CVSP22-01A

CVSP22-02

CVSP22-04A

0.0

2.0

1.9

LTSP22-001

Las Teresas

LTSP22-002

10.6

11.0

0.4

1.54

LTSP22-003

4.0

7.7

3.7

3.5

0.02

LTSP22-004

LTSP22-005

LTSP22-006

0.0

6.7

6.3

0.40

0-6.4m ~55% recovery

including

6.4

6.7

0.3

5.28

LTSP22-007

4.8

9.4

4.6

4.3

0.68

"na" = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.

Table 2: Plomosas Project New Vein Systems - Channel Results

Channel Number

From (m)

To (m)

Apparent

width

(m)

True

width (m)

Ag g/t

Au g/t

Comments

CHS21-CH-004

2.0

3.0

1.0

314

4.98

Las Chorreras

CHS21-CH-005

CHS21-CH-006

0.0

0.3

0.06

CHS21-CH-007

1.0

2.0

1.0

0.8

0.17

CHS21-CH-013

CHS21-CH-017

CVS21-CH-001

0.0

4.0

3.5

371

0.18

Las Cuevas

including

1.4

2.8

1.4

1.2

680

0.20

CVS21-CH-003

LTS21-CH-001

0.0

3.5

3.4

1.21

Las Teresas

including

0.0

0.4

394

9.44

"na" = no significant result. Numbers may be rounded. Results are uncut and undiluted. True sample widths are approximate due to complexity of structural orientations.

Table 3: Plomosas Project New Vein Systems - Surface Drill Hole Details

Drill Hole

East (m)

North (m)

RL (m)

Dip (

)

Azimuth (

)

Depth (m)

Results Status

LDS21-08

447585

2551619

921

-45

260

108.5

Received

LDS21-09

447833

2551765

905

-50

260

165

Received

LDS21-10

447433

2551536

913

-50

250

243

Received

LDS21-11

447405

2551326

894

-50

255

126

Received

LDS21-12

448095

2551451

899

-45

260

252

Received

LDS21-13A

447531

2551099

916

-75

250

150

Received

LDS21-14

447896

2552645

670

-45

250

165

Received

ESS21-01A

446309

2551001

723

-60

240

300

Received

ESS21-02

446283

2551181

757

-70

245

171

Received

ESS21-03

446714

2550276

699

-55

270

259

Received

ESS21-04

446701

2550049

764

-50

250

252

Received

CVSP21-01A

450783

2553187

1010

-30

265

10.85

Received

CVSP21-02

450632

2553561

840

-25

230

8.6

Received

CVSP22-01A

450648

2553546

843

-40

150

16.2

Received

CVSP22-02

451096

2553562

950

-45

6.5

Received

CVSP22-04A

451224

2553430

1020

-40

8.2

Received

LTSP22-001

446859

2554473

912

-55

235

Received

LTSP22-002

446882

2554472

886

-45

265

Received

LTSP22-003

446790

2554527

883

-45

200

Received

LTSP22-004

446774

2554540

907

-65

210

Received

LTSP22-005

446719

2554618

934

-50

230

Received

LTSP22-006

446716

2554577

930

-60

220

Received

LTSP22-007

446644

2554912

906

-55

285

Received

Note: all holes drilled from underground, targeting unmined areas where the Company previously adopted zero values on unsampled areas in the 2021 resource estimation, as

well as areas with insufficient drilling and recently discovered new mineralization requiring additional data for geological/mineralization modelling.

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.

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.

GR Silver Mining Ltd.

Eric Zaunscherb

Chairman & CEO

SOURCE

GR Silver Mining Ltd.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/June2022/22/c3211.html

%SEDAR: 00040149E

For further information:

Brenda Dayton, VP Corporate Communications, Telephone:

+1.604.417.7952, Email: [email protected]

CO: GR Silver Mining Ltd.

CNW 06:15e 22-JUN-22

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