GR Silver Mining Reports AGM Results and Election of New Directors
GR Silver Mining Reports AGM Results and
Election of New Directors
VANCOUVER, BC
,
Sept. 14, 2020
/CNW/ -
GR Silver Mining Ltd.
(TSXV: GRSL) (FRANKFURT:
GPE) (OTCQB: GRSLF)
("GR Silver Mining" or the "Company")
– reports the results of its
annual general meeting of shareholders held on
September 11, 2020
in
Vancouver
, British
Columbia. All the motions presented to the shareholders were approved. Each of the six nominees
proposed as Directors and listed in the Company's Management Information Circular dated
August
7, 2020
were elected as Directors.
GR Silver Mining welcomes
Jonathan Rubenstein
and
Laura Diaz
to its Board of Directors.
Mr. Rubenstein practiced law for 18 years and held a number of mining director positions during that
time. In 1994, he became a full time mining executive and mining director. He has served on
numerous mining company boards during the last 40 years and was actively engaged in the
strategic, commercial, governance and government relations aspects of permitting, property
acquisition, exploration, development and operations for these companies. He has negotiated and
completed property acquisitions, joint ventures, development agreements, financings and takeover
bid transactions, for both major and junior companies and has dealt with foreign and Canadian
domestic regulators, banks, and financial institutions, as well as the mining investment community.
He has had active roles in dealings with local populations, in compensation matters, in the
management of litigation and arbitrations, and in regulatory compliance. He was directly involved in
negotiating or supervising acquisitions, mergers and takeover transactions totalling in excess of
$5
Billion
.
Ms. Diaz, a lawyer, in
Mexico City, Mexico
, and serves as a Mining Project Advisor in the areas of
production, exploration and development. She is a well renowned lawyer, expert in corporate
commercial and mining law in
Mexico
. Ms. Diaz has served in the mining and exploration industry for
over 25 years as Legal Counsel to several Canadian/US public companies. She served as an
Independent Director of Marlin Gold Mining Ltd. (formerly Oro Mining Ltd) and of Magna Gold Corp.
Ms. Diaz was also an Independent Director of the Company from
March 2013
–
November 2018
.
Thereafter, Ms. Diaz held the position of General Director of Mines, within the Ministry of the
Economy (
Mexico
) (
December 2018
to
June 2019
).
The Company would also like to extend its sincere thanks and best wishes to Heye Daun and
Alan
Friedman
who did not stand for re-election due to other commitments. Mr. Daun and Friedman were
Directors since
May 2018
.
The Company also announces that, pursuant to the Company's 10% rolling stock option plan and in
compliance with the policies of the TSX Venture Exchange, it has granted incentive stock options to
certain directors, officers, consultants and employees of the Company to purchase up to an
aggregate of 1,145,000 common shares of the Company. These options are exercisable for a
period of 5 years at a price of
$0.78
per share.
About GR Silver Mining Ltd
.
GR Silver Mining Ltd. is a
Mexico
-focused company engaged in cost-effective silver-gold resource
expansion on its key assets which lie on the eastern edge of the Rosario Mining District,
Sinaloa,
Mexico
.
PLOMOSAS SILVER PROJECT
GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village
of
La Rastra
, within the Rosario Mining District. The Project is a past-producing asset where only
one mine, the Plomosas silver-gold-lead-zinc underground mine, operated from 1986 to 2001. The
Project has an 8,515-hectare property position and is strategically located within 5 km of the San
Marcial Silver Project in the southeast of Sinaloa State,
Mexico
. The Plomosas Project comprises six
areas with an average of 100 surface and underground drill holes in each area, geophysical and
geochemical data covering most of the concession, and 16 new exploration targets from which 11
have high priority for future exploration programs. This extensive database allows the Company to
advance towards resource estimation and potential project development in the near future.
The 100%-owned assets include all facilities and infrastructure including: access roads, surface
rights agreement, water use permit,
8,000 m
of underground workings, water access, 60 km - 33
KV power line, offices, shops, 120-person camp, infirmary, warehouses and assay lab representing
approximately
US$30m
of previous capital investments. The previous owners invested approximately
US$18 million
in exploration.
The silver and gold mineralization on this Project display the alteration, textures, mineralogy and
deposit geometry characteristics of a low sulphidation epithermal silver-gold-base metal vein/breccia
mineralized system. Previous exploration was focused on Pb-Zn-Ag-Au polymetallic shallow
mineralization, hosted in NW-SE structures in the vicinity of the Plomosas mine. The E-W portion of
the mineralization and extensions for the main N-S Plomosas fault remains under-explored.
SAN MARCIAL PROJECT
San Marcial is a near-surface, high-grade silver-lead-zinc open pit-amenable project. GR Silver
Mining is currently drilling at the San Marcial Project, which contains 36 Moz AgEq (Indicated) and
11 Moz AgEq (Inferred), exploring recently defined new high-grade gold and silver targets along the
project's 6 km mineralized trend. GR Silver Mining is the first company to conduct exploration at San
Marcial in over 10 years. The NI 43-101 resource estimate (San Marcial Project – Resource
Estimation and Technical Report) was completed by WSP Canada Inc. on
March 18, 2019
and
amended on
June 10, 2020
.
Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-
ounce San Dimas Mining District which has historically produced more than 600 Moz silver and 11
Moz gold over a period of more than 100 years.
OTHER PROJECTS
GR Silver Mining's other projects are situated in areas attractive for future discoveries and
development in the same vicinity of Plomosas and San Marcial in the Rosario Mining District.
Mr.
Marcio Fonseca
P. Geo, President & CEO
GR Silver Mining Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of
this press release.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements 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.
SOURCE
GR Silver Mining Ltd.
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For further information:
+1 (604) 202 3155, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 07:30e 14-SEP-20