GRSL.V · 2022-12-13 12:00:00

GR Silver Mining Intersects High-grade Gold on the Hanging Wall in Plomosas Mine Area 12.4 m at 2.64 g/t Au, including 0.4 m at 57.9 g/t Au

Drill Results

GR Silver Mining Intersects High-grade Gold

on the Hanging Wall in Plomosas Mine Area

12.4 m

at 2.64 g/t Au, including

0.4 m

at 57.9 g/t Au

VANCOUVER, BC

Dec. 13, 2022

/CNW/ -

GR Silver Mining Ltd.

GR Silver Mining

" or the

Company

") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is pleased to announce

additional drilling results in the Plomosas Mine Area as part of the 2022 infill drilling and sampling

program at the Company's wholly-owned Plomosas Project in

Sinaloa, Mexico

. The drilling had two

objectives:

Drilling at specific locations inside the historic mine where previous resource modelling and

estimation adopted zero grades for unsampled core intervals from historical drilling, and

Define the geometry and boundaries of new gold mineralization on the hanging wall of the main

mineralized zone at lower levels of the underground mine.

The Company expects anticipated drilling in the Plomosas Mine Area to be completed by the end of

December 2022

for data to be incorporated into the 3D geological model, for the updated resource

estimation expected to be published in Q1|2023.

Highlights from the

Plomosas Mine Area drill holes

(Down hole widths)

PLIP22-28:

7.3 m

at 1,242 g/t AgEq

[1]

(55 g/t Ag, 8.66 g/t Au, 2.7% Pb, 6.6% Zn and 0.5%

Cu)

PLI17-26:

12.4 m

at 2.64 g/t Au, including

0.4 m

at 57.9 g/t Au

PLI22-42:

21.1 m

at 489 g/t AgEq (28 g/t Ag, 3.60 g/t Au, 0.6% Pb, 2.3% Zn and 0.2% Cu)

PLI22-47:

7.1 m

at 970 g/t AgEq (281 g/t Ag, 2.15 g/t Au, 8.9% Pb and 6.0% Zn)

PLI22-46:

6.4 m

at 940 g/t AgEq (44 g/t Ag, 1.90 g/t Au, 11.2% Pb, 10.0% Zn and 0.1%

Cu)

The infill drilling program at the Plomosas Mine Area continues to provide information for the

Company to enhance the geological model and confirm the presence of high-grade structures on the

hanging wall and footwall of the main mineralized breccia. Gold mineralized zones exceeding

20 m

down hole width have been drilled in the current program in both the hanging wall and footwall.

Multiple drill hole intervals with high-grade veinlets have been intersected in these zones, as

evidenced by the

0.4 m

at 57.9 g/t Au

from hole PLI17-26.

GR Silver Mining Chairman and CEO,

Eric Zaunscherb

comments, "As GR Silver's team peeled the

geological onion, the importance of cross structures in the overall Plomosas story was revealed. Our

most recent results confirm that younger, crosscutting structures appear to be contributing additional

precious metals mineralization in the main polymetallic Plomosas Breccia and beyond into its hanging

wall and footwall. The intersection of high-grade gold mineralization is an important addition to the

Plomosas story that may contribute to the resource update anticipated in the next few months.

Regardless, the emerging understanding of controls on high-grade mineralization has already had a

material impact on drilling success at the Plomosas Project, as well as how the project is viewed."

Figure 1: Longitudinal Section: Plomosas Mine Area (Au Block Model and Grades)

Figure 1:

Longitudinal Section: Plomosas Mine Area (Au Block Model and Grades) (CNW Group/GR

Silver Mining Ltd.)

GR Silver Mining will complete the infill drilling program at the Plomosas Mine Area by year end to

receive the assays in early 2023. Upon completion, this program will add

11,750 m

of core drilling

(186 holes) in specific areas of the existing NI 43-101 resource block model, designed to:

Replace historical holes in the previous resource estimation where zero grades were applied

due to historical selective sampling. The immediate benefit is that infill drilling completed in the

Plomosas Breccia, as well as exploring further into the hanging wall and footwall of the main

mineralized zone, may potentially enhance the silver ("Ag") and gold ("Au") grade distribution in

the upcoming resource block model;

Target the discovery and delineation of high-grade precious metal mineralized zones hosted by

structures cross cutting the main mineralized zone;

Drill in the vicinity of the main Ag-Au-Pb-Zn breccia in a series of unmined locations inside the

historical Plomosas Mine Area, where recent structural geological mapping revealed new

structures hosting wide mineralization close to existing underground development; and

Test new models developed following the first-ever detailed geological-structural mapping on

the Plomosas Mine Area with potential to successfully intersect additional high-grade Ag-Au

mineralized zones.

The highlights of the drill holes reported in this news release are summarized as follows.

Table 1: Plomosas Mine Area – Latest Results Highlights

Drill Hole

From

(m)

Apparent

width

(m)

True

width

(m)

Ag g/t

Au g/t

Pb %

Zn %

Cu %

AgEq g/t

PLI22-40

0.0

5.8

3.3

0.24

0.6

0.7

0.1

PLI22-41

68.3

69.2

0.9

0.5

0.25

0.8

3.0

0.2

204

PLI22-42

0.0

27.3

20.9

1.96

1.2

2.1

0.3

369

including

16.1

25.9

9.8

7.5

4.52

2.9

5.5

0.3

802

54.4

75.5

21.1

10.6

3.60

0.6

2.3

0.2

489

including

54.4

57.0

2.6

2.0

11.05

0.2

3.7

0.4

1,263

and

57.9

59.5

1.6

0.8

7.13

3.4

8.3

0.2

1,184

and

62.3

65.7

3.4

1.7

3.90

0.3

1.2

0.2

479

and

72.4

75.5

3.1

1.5

6.05

0.7

1.9

0.1

695

PLI22-43

15.6

19.1

3.5

2.5

0.10

0.5

4.8

PLI22-44

No significant intervals

PLI22-45

0.0

4.4

3.3

0.14

0.4

1.9

114

including

0.0

2.4

1.8

0.20

0.5

3.1

166

PLI22-46

2.6

8.0

6.4

4.9

1.90

11.2

10.0

0.1

940

including

5.2

8.0

2.8

1.9

4.02

19.5

17.0

0.1

1,659

PLI22-47

62.1

69.2

7.1

2.4

281

2.15

8.9

6.0

970

PLI22-51

25.3

28.1

2.8

1.6

0.07

0.1

1.3

117.6

121.7

4.1

2.4

0.03

1.5

0.1

PLIP22-17

No significant intervals

PLIP22-28

0.0

7.3

6.9

8.66

2.7

6.6

0.5

1,242

PLIP22-39A

0.0

4.3

3.7

2.23

11.2

9.8

0.1

969

PLIP22-44

3.1

11.7

8.6

7.4

0.91

2.4

3.7

0.1

329

including

3.1

5.4

2.3

2.0

2.82

4.2

6.5

0.2

700

14.0

17.3

3.3

2.5

0.37

2.9

3.3

0.1

269

PLIP22-47

7.8

14.8

7.1

6.8

0.28

1.3

2.7

0.3

211

PLIP22-48

3.8

9.0

5.2

4.0

0.08

0.2

0.3

0.1

12.7

20.0

7.4

6.4

0.15

0.2

0.4

0.1

PLIP22-49

8.8

12.7

3.9

2.5

0.11

0.4

0.2

0.1

PLIP22-50

3.5

4.5

1.0

0.8

752

0.64

1.9

2.4

0.2

973

PLIP22-51

0.4

2.4

2.0

1.4

0.67

1.6

2.3

0.4

315

PLIP22-52

1.0

8.0

7.0

5.4

0.60

5.1

4.4

0.1

399

including

3.0

4.5

1.5

1.0

2.44

21.9

18.4

0.1

1,644

PLIP22-53

6.6

10.0

3.4

0.13

0.2

0.1

PLIP22-54

No significant intervals

PLIP22-55

0.0

1.3

1.1

0.54

9.6

3.5

0.4

583

1.3

12.6

11.3

8.7

1.34

0.1

PLIP22-56

No significant intervals

PLIP22-57

3.6

14.8

11.2

10.5

0.02

0.1

including

14.5

14.8

0.3

0.2

582

0.03

0.1

590

PLIP22-58

No significant intervals

PLIP22-59

0.0

5.0

4.3

1.25

3.7

3.6

0.1

387

including

0.0

2.0

1.3

2.70

8.9

8.2

0.1

878

PLI17-26

17.6

30.0

12.4

10.7

2.64

0.1

257

including

29.5

30.0

0.5

0.4

57.90

2.2

0.1

0.2

5,519

Numbers may be rounded. Results are uncut and undiluted. "na" = no significant result. # Existing previously unsampled core assayed after identification of new Au mineralized

structures in nearby underground workings. * AgEq calculations using US$20.00/oz Ag, US$1,600/oz Au, US$0.90/lb Pb, US$1.10/lb Zn and US$3.00/lb Cu, with metallurgical

recoveries of Ag – 74%, Au – 86%, Pb – 69%, Zn –75% and Cu – 80%. AgEq = ((Ag grade x Ag Price x Ag recovery) + (Au grade x Au price x Au recovery) + (Pb grade x Pb

price x Pb recovery) + (Zn grade x Zn price x Zn recovery) + (Cu grade x Cu price x Cu recovery))/(Ag price x Ag recovery) .

Table 2: Plomosas Mine Area Drill Hole Details

Drill Hole

East (m)

North (m)

RL (m)

Dip (

)

Azimuth (

)

Depth (m)

Drill Hole Type

PLI22-40

451,109

2,551,798

705

-86

50.8

Underground

PLI22-41

451,040

2,551,675

739

-51

139

96.5

Underground

PLI22-42

451,119

2,551,852

700

-72

50.0

Underground

PLI22-43

451,114

2,551,923

694

-45

63.0

Underground

PLI22-44

451,085

2,551,906

691

-45

60.0

Underground

PLI22-45

451,002

2,551,847

678

-10

120

114.0

Underground

PLI22-46

451,027

2,551,700

727

-65

250

131.2

Underground

PLI22-47

451,109

2,551,798

705

-86

50.8

Underground

PLI22-51

451,040

2,551,675

739

-51

139

96.5

Underground

PLIP22-017

451,212

2,552,002

769

-37

6.00

Underground

PLIP22-28

451,044

2,551,898

677

-40

17.25

Underground

PLIP22-39A

451,064

2,551,880

681

-70

17.0

Underground

PLIP22-44

450,992

2,551,878

677

-55

18.3

Underground

PLIP22-47

451,051

2,551,871

706

-48

138

18.0

Underground

PLIP22-48

451,132

2,551,764

730

-39

110

20.0

Underground

PLIP22-49

451,087

2,551,746

731

-40

21.0

Underground

PLIP22-50

451,364

2,551,690

860

-18

210

15.0

Underground

PLIP22-51

451,508

2,552,236

888

-47

12.5

Underground

PLIP22-52

451,072

2,551,903

690

-45

13.1

Underground

PLIP22-53

451,089

2,551,744

732

-40

14.3

Underground

PLIP22-54

451,504

2,552,238

890

270

18.0

Underground

PLIP22-55

451,261

2,551,987

787

-64

114

15.3

Underground

PLIP22-56

451,200

2,551,754

763

-55

15.4

Underground

PLIP22-57

451,159

2,551,683

757

-45

15.4

Underground

PLIP22-58

451,494

2,552,237

880

305

13.5

Underground

PLIP22-59

451,532

2,552,238

895

-67

310

16.3

Underground

PLI17-26

450,933

2,551,788

752

279.95

Underground

Note: WGS84 Datum

QA/QC Procedures

The Company has implemented QA/QC procedures which include insertion of blank, duplicate and

standard samples in all sample lots sent to SGS de México, S.A. de C.V. laboratory facilities in

Durango, Mexico

, for sample preparation and assaying. For every sample with results above Ag

>100 ppm (over limits), these samples are submitted directly by SGS de

Mexico

to SGS Canada

Inc. at

Burnaby, BC

. The analytical methods are four acid Digest and Inductively Coupled Plasma

Optical Emission Spectrometry with Lead Fusion Fire Assay with gravimetric finish for silver above

over limits. For gold assays the analytical methods are Lead Fusion and Atomic Absorption

Spectrometry Lead Fusion Fire Assay and gravimetric finish for gold above over limits (>10 ppm).

Qualified Person

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects

for this news release is

Marcio Fonseca

, P. Geo., President & COO for GR Silver Mining, who has

reviewed and approved its contents.

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.

Eric Zaunscherb, Chairman & 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.

____________________________________

See Table 1 for AgEq definition

SOURCE

GR Silver Mining Ltd.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/December2022/13/c9175.html

%SEDAR: 00040149E

For further information:

please contact: Brenda Dayton, VP Corporate Communications,

Telephone: +1.604.417.7952, Email: [email protected]

CO: GR Silver Mining Ltd.

CNW 06:15e 13-DEC-22

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