GR Silver Mining Strengthens Management Structure and Provides Corporate Update
GR Silver Mining Strengthens Management
Structure and Provides Corporate Update
VANCOUVER, BC
,
June 30, 2025
/CNW/ -
GR Silver Mining Ltd.
("
GR Silver Mining
" or the
"
Company
") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) – is very pleased to announce
the strengthening of its management structure by recognizing the contribution of the Company's team
in recent successes, including discovering new silver mineralization, resource growth, improved
financial condition, and positioning the Company for renewed growth.
Effective immediately, making use of experienced in-house mining executives, GR Silver Mining is
implementing a management restructure supporting plans to advance the Plomosas Silver Project in
Sinaloa, Mexico
. Advancement of the Plomosas Project is based on the upside resource potential at
the San Marcial Area and the recognition of synergies and opportunities available at the permitted
historical Plomosas Mine Site.
In
Vancouver
, Founder, President and Chief Operating Officer (COO)
Márcio Fonseca
will assume
the role of President and Chief Executive Officer.
Eric Zaunscherb
will assume the role of Executive
Chair of the Board of Directors. Mr. Fonseca has been highly successful in his mandate as COO,
delivering a resource update for the Plomosas Project on time and exceeding published expectations
in
March 2023
(see
news release
dated
March 20, 2023
). Over the last few years, the geological
team headed by Mr. Fonseca has fine-tuned the geological model at San Marcial leading to the SE
Area discovery with a highlight intersection in Hole SMS22-10 of
101.6 m
averaging 308 g/t Ag.
More recently, three new proximal target areas have been identified for follow up drilling featuring
similar geological, geochemical and geophysical signatures to San Marcial. Mr. Fonseca has also
been fundamental in the Company's initiatives to improve its financial condition through corporate
improvements in 2024.
Mr. Zaunscherb assumed the role of CEO in
February 2022
to allow Mr. Fonseca to focus on
delivering continued resource expansion on the wholly owned, highly prospective Plomosas Project
and to support operations and business enhancement in
Mexico
. In late 2023, GR Silver Mining
management commenced initiatives to improve its financial condition and to position the Company for
renewed growth. Positive corporate improvements through 2024 placed GR Silver Mining on track
for a return to active exploration in 2025. Our corporate successes included the sale of a non-core
asset, elimination of the Company's working capital deficit, compensation from a third party for a
historical environmental impasse, a significant uplift in the Company's share price, and strengthened
leadership through the recruitment of new directors.
Effective
June 25
,
Alejandro Cano Cabello
has been promoted from General Manager to Vice
President of Operations,
Mexico
. With over two decades of experience in the Mexican mining sector,
Mr. Cano is a mining and metallurgical engineer who has held senior roles at Fortuna Mining's San
Jose Mine, First Majestic's Del
Toro Silver Mine
, and Americas Gold and Silver's Cosala Operations,
among many other successful silver operations in
Mexico
. He brings a wealth of experience to
support GR Silver Mining's growth in
Mexico
. He is highly regarded in the Mexican mining industry,
being a member of the Asociación de Ingenieros de Minas, Metalurgistas y Geólogos de México.
His role on the National Executive Board of the Colegio de Ingenieros de Minas, Metalurgistas y
Geólogos de México, A.C. (
www.cimmgm.org
) reflects his extensive development and operational
experience as well as essential regulatory contacts throughout the country.
Luis Coto
has been promoted from Exploration Manager to Vice President, Exploration. He played
a key role in discovering the wide, high-grade silver-mineralized breccia at San Marcial, contributing
significantly to the Company's resource growth. Mr. Coto has gained extensive exposure to various
geological settings and mineralized silver-gold epithermal systems, gold-copper porphyries, and
skarn deposits. His expertise spans district-scale exploration studies, as well as design,
management, and execution of multi-million-dollar drilling programs supporting resource expansion.
In
Mexico
, he participated in the discovery of Fortuna Mining's San Jose Mine, and in
Peru
, he led
the team that defined the world-class
Mina Justa
copper-gold deposit for Minsur.
Gerardo Cicilia Calnacasco
has been promoted to Controller,
Mexico
. He is an accountant with a
Master's Degree in Finance and has over two decades of financial experience in the industrial sector
in
Mexico
. After 14 years working in the manufacturing-oil sector, he transitioned to the mining
industry where he has spent the last 14 years working in a range of accounting and financial roles at
multiple mine operations in
Mexico
. His senior accounting and financial roles at Endeavour Silver's
Guanacevi Mine, First Majestic's San Dimas Mine, and Nyrstar Mining's
Campo Morado Mine
have
created a strong knowledge of cost accounting and budgeting. His leadership over the past two
years at GR Silver Mining has been greatly appreciated.
Eric Zaunscherb commented, "I am excited to see GR Silver Mining repositioned and ready to
advance its 2025 strategic initiatives to deliver value on behalf of its shareholders. I am confident
that Márcio will continue to uncover the extraordinary potential of the Plomosas Silver Project, and I
look forward to supporting him in this goal in my new role, assisting in communicating the Company's
exciting investment proposition and attracting the resources he and his team need to execute the
business plan."
Márcio Fonseca added, "The success GR Silver Mining has achieved to date in consolidating a
district-scale silver asset, discovering wide high-grade silver mineralization, and positioning the
Company for continued resource growth and potential development in
Mexico
is the result of a
strong team effort and shared commitment to our vision. I would like to thank all employees who
have contributed to this journey so far. I am excited about the strengthening of our team, the ongoing
drilling program at San Marcial, and the potential new developments at the Plomosas Mine. All these
activities are advancing the Company toward responsible and sustainable growth."
GR Silver Mining is
continuing its drill program in the San Marcial Area
, recently expanded to up
to 3,000 meters, with three drill rigs currently active on site. The program is focused on three target
areas located near the existing NI 43-101 resource estimate as noted in the
March 2023
news
release. This step-out drilling campaign includes a combination of shallow and deep drill holes,
designed to define new near-surface mineralized zones and test down-plunge extensions of
previously successful underground drilling, such as the intersections of
18 m
averaging 773 g/t Ag
including
5.6 m
averaging 1,792 g/t Ag (Hole SMI21-03) and
38 m
averaging 299 g/t Ag including
3.5
m
averaging 1,002 g/t Ag (Hole SMI21-04).
Management continues third-party discussions to advance the commencement of a Bulk
Sampling Test Mining program at the permitted, past-producing Plomosas Mine.
This initiative
will consider both existing and potential new infrastructure, while also evaluating strategic
opportunities to achieve critical mass in the Mexican silver mining industry. A similar concept was
successfully implemented by the Company at the historic San Juan Mine. The program yielded
valuable incremental knowledge related to high-grade modeling and targeting, grade reconciliation,
and mineral deposit modeling to define new drill targets. From January to
September 2024
, 20,620 t
of material were mined and 20,430 t milled by private local operators. A total of 420 t (dry) of lead
concentrate were sold, averaging 10.43% Pb, 8,357 g/t Ag, and 8.19 g/t Au.
Pursuant to the Company's Omnibus Equity Incentive Plan, the Company has granted
incentive
stock options
to purchase up to 750,000 common shares (the "
Options
") to officers of the
Company on joining senior management. The Options will vest on the date of grant. The Options are
exercisable at
$0.175
per share for a period of five years from the date of grant and are subject to
the policies of the TSX Venture Exchange.
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 the Plomosas Project, including the former Plomosas underground mine and wide,
high-grade silver mineralized zones at the San Marcial Area. Recent discoveries in the 78 km
2
of
highly prospective advanced stage exploration concessions, position the Company well in the pursuit
for resource expansion at the Plomosas Project.
GR Silver Mining Ltd.
Márcio Fonseca, 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.
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For further information:
For further information, please contact: Telephone: 236-270-2057, Email:
CO: GR Silver Mining Ltd.
CNW 07:30e 30-JUN-25