On Monday 12 22, 2025 at 7:20AM ET Guanajuato Silver Receives TSXV Conditional Approval for Bolanitos Acquisition
On Monday 12 22, 2025 at 7:20AM ET
Guanajuato Silver Receives TSXV Conditional Approval for
Bolanitos Acquisition
VANCOUVER, BC / ACCESS Newswire / December 22, 2025 / Guanajuato Silver Company Ltd. (the "Company" or
"GSilver") (TSXV:GSVR)(OTCQX:GSVRF) announces that further to the news release dated November 24, 2025, announcing
the signing of a definitive agreement to acquire the Bolanitos gold-silver mine located in Guanajuato, Mexico, from Endeavour
Silver ("Endeavour")(TSX:EDR) (see Guanajuato Silver news release dated November 24) (the "Acquisition"), the Company
has received conditional approval from the TSX Venture Exchange ("TSXV") to proceed with the Acquisition. The Company is
working to satisfy the conditions associated with the TSXV conditional approval and the remaining conditions associated with
the closing of the Acquisition.
James Anderson, Chairman & CEO, said, "The acquisition of the Bolanitos mine will be a genuinely transformative transaction
for Guanajuato Silver. Bolanitos is poised to become our most significant mine, and we remain on-track for completion of the
transaction in January 2026."
About Guanajuato Silver
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The
Company produces silver and gold concentrates from the El Cubo Mines Complex, the 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 and 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
Guanajuato Silver Bullion Store
Please visit our Bullion Store, where Guanajuato Silver coins and bars can be purchased.
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, GSilver's growth, the merits of Bolantios; the Company's plans and objectives with
respect to Bolanitos, expected closing date of the Acquisition, the satisfaction of conditions associated with the Acquisition and
GSilver's status as one of the fastest growing silver mining company in Mexico.
Such forward-looking statements and information reflect management's current beliefs and are based on information currently
available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are
inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These
assumptions include: our estimates of the potential quantity, grade and metal content of the mineralized material at Bolanitos, El
Cubo and San Ignacio, that the parties are able to satisfy the conditions of the Acquisition and close the Acquisition; the
Company to accomplish its plans and objectives with respect to Bolanitos within the expected timing or at all, that the appeal of
the NucTech ruling will be successful, that the new mining fleet will be delivered on schedule, that the new mining fleet will
operate in accordance with design specifications, the geotechnical and metallurgical characteristics of such material 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; 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, 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, risks related to the parties ability to satisfy the
conditions of the Acquisition and close the Acquisition; the ability of the Company to accomplish its plans and objectives with
respect to Bolanitos within the expected timing or at all; market conditions, availability of financing, currency rate fluctuations,
high inflation and interest rates, tariffs, that the appeal of the NucTech ruling is unsuccessful, geopolitical conflicts including
wars, actual results of exploration, development and production activities, actual grades and recoveries of silver, gold and other
metals from the Company's existing mines including El Cubo, San Ignacio, VMC and Topia, that the new mining fleet will not be
delivered on schedule, that the new mining fleet will not operate in accordance with design specifications, availability of third
party mineralized material for processing, unanticipated geological or structural formations and characteristics, environmental
risks, future prices of gold, silver and other metals, 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 continue to increase production, tonnage milled and recoveries rates, improve
grades and reduce costs at El Cubo, San Ignacio, VMC and/or Topia to process mineralized materials to produce silver, gold and
other concentrates in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process
mineralized material from El Cubo, San Ignacio, VMC and Topia 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 grades of gold and silver at El Cubo and San Ignacio and the
anticipated level of production therefrom 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 impact of any future global pandemic, ongoing global military
conflicts, elevated 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, 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.sedarplus.ca 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.
SOURCE: Guanajuato Silver Company Ltd.