GRSL.V · 2020-04-13 12:00:00

GR Silver Mining Reports High-Grade Drill Results from Plomosas Project: 3.5 m at 2,930 gpt AgEq, including 0.7 m at 13,335 gpt AgEq

Drill Results

GR Silver Mining Reports High-Grade Drill

Results from Plomosas Project: 3.5 m at 2,930

gpt AgEq*, including 0.7 m at 13,335 gpt AgEq*

VANCOUVER

April 13, 2020

/CNW/ -

GR Silver Mining Ltd. (TSXV: GRSL,

FRANKFURT

: GPE,

OTCQB: GLYXF) ("GR Silver" or the "Company")

– is pleased to announce high-grade drill

results for the

San Juan

area at Plomosas Silver Project ("Plomosas Project"), in

Sinaloa, Mexico

San Juan

is one of six priority areas with a combination of recent (2016 to 2018) and historical

drilling data. The most significant sample results for this release represent the following:

Drill results assaying:

3.5 m

at 1,419 gpt Ag, 15.5 gpt Au (2,930 gpt AgEq*)

Including

0.7 m

at 6,438 gpt Ag, 70.9 gpt Au (13,335 gpt AgEq*)

15 m

at 108 gpt Ag,0.12 gpt Au, 4.7% Zn, 1.9% Pb (361 gpt AgEq*)

Including

3.4 m

at 172 gpt Ag, 0.34 gpt Au,

14% Zn, 6.2% Pb (944 gpt AgEq*)

A high-grade silver (Ag) - gold (Au) hydrothermal breccia-hosted mineralized zone from drill hole

SJS-18-01A that returned

3.5 m

grading 1,419 gpt Ag and 15.5 gpt Au (including

0.7 m

grading

6,438 gpt Ag and 70.9 gpt Au) (

see

San Juan Area

), (

see Drill Core Photo1

)

. It represents a

new near-surface mineralized system sub-parallel to similar mineralization recently released

from sampling of the

San Juan

underground workings, which returned up to 6,128 gpt Ag over

0.2 m

(

see News Release dated

2 April, 2020

Confirmation of an extension of mineralization, up to

300 m

down dip, from the recently sampled

underground workings at

San Juan

, based on intervals in drill holes SJS-18-02, SJS-18-11 and

SJS-18-01A. This mineralization is polymetallic in nature, displaying high-grade zinc (Zn) - lead

(Pb) and silver-gold hosted in veining/hydrothermal breccia along the

San Juan

fault structure

and similar to other occurrences in the Plomosas Project (

see Drill Core Photo2

GR Silver Mining President and CEO,

Marcio Fonseca

, commented

We are very pleased to

report the discovery of high-grade silver-gold mineralized zones in the

San Juan

area. These

significant results demonstrate the district-scale potential for high-grade silver-gold veins within the

Plomosas Project. The results also indicate potential for bulk tonnage polymetallic mineralization

(Zn-Pb with attractive Ag-Au grades). The drill results suggest continuous high-grade vein/breccia

mineralization hosted by major regional structures with true thickness ranging from

2.5 m

up to

. We can trace the

San Juan

regional structure on surface for over 2 km within an altered and

mineralized trend. Additionally, the identification of multiple subparallel secondary structures

supports the upside potential for new discoveries. It is the first time the recent and historical results

from

San Juan

have been released publicly. We continue to review and validate the remaining drill

holes from the Plomosas Project, aiming to provide additional drill results for

San Juan

and the

other five zones as we progress."

The following

Table 1

summarizes the most significant drill assay results (uncut, undiluted) for the

first group of holes released for the

San Juan

area.

Table 1: Summary Drill Hole Results - News Release

April 13

, 2020- (

San Juan

area only)

Hole No.

From

(m)

Drilled

width

(m)

Est. true

width

(m)

Ag g/t

Au g/t

Zn %

Pb%

Ag Eq

g/t

SJS18-01A

186.0

189.5

3.5

3.0

1,419

15.50

0.2

0.03

2,930

includes

188.3

189.0

0.7

0.6

6,438

70.90

0.6

0.02

13,335

379.5

382.3

2.8

2.5

0.04

0.8

0.5

SJS18-02

267.4

273.4

6.0

5.4

104

0.09

0.9

0.3

156

SJS18-11

277.4

299.6

22.2

20.0

0.08

3.3

1.3

250

includes

277.4

292.4

15.0

13.5

108

0.12

4.7

1.9

361

includes

287.3

290.7

3.4

3.0

172

0.34

14.0

6.2

944

SJS18-11

335.1

337.0

1.9

1.7

0.08

3.0

1.4

198

LRD 85

157.2

164.0

6.8

6.1

152

1.33

281

280.0

283.1

3.1

2.8

121

LRD 22

172.0

175.9

3.9

3.5

0.2

0.4

LRD 18

226.0

228.8

2.8

2.5

207

1.2

0.7

277

LRD 13

98.0

98.6

0.6

0.5

0.3

0.1

SJS 4

180.5

194.3

13.8

12.4

0.05

0.03

*AgEq is based on long term gold, silver, zinc and lead prices of US$1600 per ounce gold, US$16.50 per ounce silver, US$0.85 per pound zinc and US$0.95 per pound lead. The

metallurgical recoveries are assumed as 100%. "na" = no relevant assays.

All numbers are rounded.

The existing drill hole results on the Plomosas Project were generated by drill campaigns completed

by Grupo Mexico ("Grupo Mexico") in the period 1982-2000 and First Majestic Silver Corp. ("First

Majestic") in the period 2016-2018. The primary objective of Grupo Mexico was the discovery of

base metals as potential feed for their Plomosas/

La Cruz

flotation plant operations nearby. First

Majestic followed up by drilling wide-spaced drill holes (in most cases validating historical drill holes)

on the six initial exploratory targets, with a focus on silver and gold, as well as defining new zones.

Neither Grupo Mexico nor First Majestic previously released any of these drill results to the public.

An on-site and database review has shown that several First Majestic and Grupo Mexico drill holes

were not fully sampled and assayed. Wherever missing assay intervals are identified at the

Plomosas Project, the relevant drill holes will be re-examined, sampled and assayed, using

remaining core.

All

San Juan

drill holes from this News Release (Table 1) have intercepted epithermal quartz veining,

stockwork veinlets, breccias and/or shears trending NW to SE and dipping 50 to 80 degrees NE,

which can be correlated to major faults (Figure 1). At

San Juan

, the silver, silver-gold and zinc-lead-

silver-gold mineralization overprint on each other to form one large mineralized system. High-grade

silver zones are generally associated with acanthite, galena and sphalerite-rich vein and breccia

zones. The hydrothermal breccias display features supporting multi-phase mineralizing events with

generally rounded clasts. All holes bottomed in altered and low-grade mineralized host rocks. The

geological setting shows a predominance of shallow dipping andesites, tuffs and rhyolites with

mineralization generally cross cutting the stratification, defined by lava flows and volcanic fragmental

layers (

see Cross Section A-A'

). There is potential for the discovery of mineralization not only along

the extensive fault system, but also in multiple faults and their connection with mineralization and the

stratification (Figure 1).

San Juan Area

San Juan

, Grupo Mexico's historical reports indicate that the initial plans for the underground

operations focused on developing two shallow levels where the veins/breccias are close to surface,

spending little time modelling and integrating data. This explains the considerable amount of silver-

gold mineralization is in areas with surface evidence of multiple fault sets, which favors additional

discoveries.

Figure 1: Drill Hole Collar Location and Geology – Mineralized Structures (San Juan area only)

(CNW Group/GR Silver Mining Ltd.)

Table 2: Drill Hole Location

Hole No.

Azimuth

Dip

Depth (m)

SJS18-01A

448476.3

2550864

1040.53

215

-70

452.6

SJS18-02

448345.8

2550751

1022.61

226

-75

360

SJS18-11

448464.5

2550790

1028.015

232

-68

358.6

LRD 85

448459.1

2550791

1048.849

244

-81

356.75

LRD 22

448340.1

2550715

1018.113

-90

225.15

LRD 18

448321.1

2550672

991.0528

-90

289.95

LRD 13

448231.5

2550616

916.7209

-90

109.1

SJS 4

448274.1

2550638

943.4842

-90

197.45

Qualified Person

The scientific and technical data contained in this News Release related to the Plomosas Project

was reviewed and/or prepared under the supervision of

Marcio Fonseca

, P.Geo.

Quality Assurance Program and Quality Control Procedures ("QA/QC")

The recent drill holes completed by First Majestic (SJS-18-01A, SJS-18-02 and SJS-18-11) followed

QA/QC protocols reviewed and validated by GR Silver Mining, including insertion of blank and

standard samples in all sample lots sent to First Majestic's Laboratorio Central facilities in La Parilla,

Durango, for sample preparation and assaying. Additional validation and check assays were

performed at independent laboratory by at SGS de México, S.A. de C.V facilities in

Durango,

Mexico

. The analytical methods applied for these recent holes for Ag and Au assays comprised of

Fire Assay with Atomic Absorption finish for samples above Au > 10ppm and Ag > 300ppm and

Gravimetric Finish. Pb and Zn were analyzed using Inductively Coupled Plasma Optical Emission

Spectrometry.

GR Silver Mining has not received information related to the Grupo Mexico QA/QC and assay

protocols and at this stage is considering the information historic for news release purpose.

About GR Silver Mining Ltd

GR Silver Mining Ltd. (GRSL.V) 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.

PLOMOSAS SILVER PROJECT

GR Silver Mining owns 100% of the Plomosas Silver Project located near the historic mining village

La Rastra

, within the Rosario Mining District. 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 remains under-explored. The

Plomosas Silver Project has approximately +500 recent and historical drill holes in six areas -

Plomosas,

San Juan

La Colorada

Yecora

San Francisco

and El Saltito. These drill holes represent

an extensive database allowing the Company to advance towards resource estimation and potential

project development in the near future (

see Plomosas Project 3D Drilling Database

) .

SAN MARCIAL PROJECT

San Marcial is a near-surface, high-grade silver, lead, and zinc open pit-amenable project. GR Silver

Mining is currently expanding its NI 43-101 resource estimate at the San Marcial Project, which

contains 36Moz AgEq (indicated) + 11Moz AgEq (Inferred), by defining 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 26, 2019

Plomosas and San Marcial collectively represent a geological setting resembling the multimillion-

ounce San Dimas Mining District which has historically produced more than 620Moz silver and

11Moz 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.

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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 13-APR-20

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