Guanajuato Silver Completes Shares for Debt
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Guanajuato Silver Completes Shares for Debt
June 20, 2024 – Vancouver, British Columbia – Guanajuato Silver Company Ltd. (the “Company” or “GSilver”)
(TSXV:GSVR)(OTCQX:GSVRF) confirms that, as previously announced on May 31, 2024, (See GSilver News Release
dated May 31, 2024 – “Guanajuato Silver Announces Date of General Meeting of the Shareholders”) the Company
has settled $805,000 in outstanding liabilities of the Company by the issuance of 2,683,333 common shares in the
capital of the Company at a deemed price of $0.30 per share (the "Debt Settlement"). The shares issued for the
Debt Settlement are subject to a four-month hold period that expires on October 21, 2024.
Corporate Update
The Company also announces the upcoming event: June 27, 2pm Pacific – Mining Operations Update
Presentation. Hernan Dorado Smith, Guanajuato Silver’s Chief Strategy Officer, will provide an update and take
questions about the Company’s operations and plans for the remainder of 2024. The presentation will be held in
Vancouver at the offices of Ventum Financial Corp, located at 733 Seymour Street, 25th Floor. Space will be limited;
if you would like to attend, please respond to [email protected]
About Guanajuato Silver
GSilver is a precious metals producer engag ed in reactivating past producing silver and gold mines in central
Mexico. The Company produces silver and gold concentrates from the El Cubo Mines Complex, Valenciana Mines
Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an
established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates
from the Topia mine in northwestern Durango. With four operating mines an d three processing facilities,
Guanajuato Silver is one of the fastest growing silver producers in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding Guanajuato Silver Company Ltd., please contact:
JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433
Gsilver.com
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 release.
Forward-Looking Statements
This news release contains certain forward-looking statements and information, which relate to future events or future
performance including, but not limited to the Company’s status as one of the fastest growing silver producers in Mexico.
Such forward-looking statements and information reflect management's current beliefs and expectations and are based
on information currently available to and assumptions made by the Company; which assumptions, while considered
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reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory
uncertainties and contingencies. These assumptions include: our estimates of mineralized material at El Cubo and San
Ignacio and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock
conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and
processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production
estimates; the ability of the Company to ramp up processing of mineralized material at Cata at the projected rates and
source sufficient high grade mineralized material to fill such processing capacity; prices for silver, gold and other metals
remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects
and to satisfy current liabilities and obligations including debt repayments; capital cost estimates; decommissioning
and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation)
and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in
scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely
manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not
exhaustive.
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and
are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or
achievements of GSilver to differ materially from those expected including, but not limited to, market conditions,
availability of financing, future prices of gold, silver and other metals, currency rate fluctuations, rising inflation and
interest rates, actual results of production, exploration and development activities, actual resource grades and recoveries
of silver, gold and other metals, availability of third party mineralized material for processing, unanticipated geological or
structural formations and characteristics, geopolitical conflicts including wars, environmental risks, operating risks,
accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and
permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to
successfully discover and mine sufficient quantities of high grade mineralized material at El Cubo, VMC, San Ignacio and
Topia for processing at its existing mills to increase production, tonnage milled and recoveries rates of gold, silver, and
other metals in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver’s decision to process
mineralized material from El Cubo, VMC, San Ignacio, Topia and its other mines is not based on a feasibility study of
mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk
of failure, both economically and technically. Mineral resources and mineralized material that are not Mineral Reserves
do not have demonstrated economic viability, are considered too speculative geologically to have the economic
considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political,
marketing, and other relevant issues. There are no assurances that the Company's projected production of silver, gold and
other metals will be realized. In addition, there are no assurances that the Company will meet its production forecasts or
generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due
or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives
as planned. There is also uncertainty about any resurgence of COVID-19, the ongoing war in Ukraine and conflict in Gaza
and higher inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability
to access mining projects or procure equipment, supplies, contractors and other personnel on a timely basis or at all and
economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or
information. All forward-looking statements and information made in this news release are qualified by these cautionary
statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Company’s
most recently filed annual information form . These forward-looking statements and information are made as of the date
hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances
save as required by law.