GR Silver Mining Ltd. Defines New High-Grade Gold Zones Parallel to the Plomosas Vein System

Including 0.4 m at 9.7 g/t Au and 2.0 m at 4.45 g/t Au

VANCOUVER, Feb. 17, 2022 - GR Silver Mining Ltd. ("GR Silver Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) - is pleased to report first exploration results for the Trampolín and Corta Pico vein systems, representing a set of N-S and NE-SW trending veins, located between the Plomosas and Loma Dorada vein systems. The Trampolín vein system can be considered the NE extension of the San Juan vein system, expanding the footprint of Au mineralization over 1,300 m to the NE (Figure 1). The results from Trampolín and Corta Pico confirm the presence of two Au-rich epithermal vein systems with the potential for higher-grade Au and Ag mineralization at depth. Mineralization at Trampolín and Corta Pico remains open along strike and down dip for future drilling.

Highlights:

• Surface channel results from the Corta Pico vein system indicate the presence of high-grade Au-Ag mineralized veins:
• • 4.1 m at 1.35 g/t Au and 6 g/t Ag (TPS21-CH-019), including:
    0.4 m at 9.70 g/t Au and 44 g/t Ag
  • 4.5 m at 2.50 g/t Au and 57 g/t Ag (TPS21-CH-006), including:
    2.0 m at 4.45 g/t Au and 112 g/t Ag
    
    
• First drill results received from the 2021 drilling program at Trampolín confirm an attractive wide Au mineralized system supported by nearby historical shallow workings:
• • 12.0 m at 0.64 g/t Au and 2 g/t Ag (TPS21-01), including:
    0.8 m at 3.38 g/t Au and 1 g/t Ag
  • 7.2 m at 0.44 g/t Au and 6 g/t Ag (TPSP21-001), including:
    1.2 m at 1.16 gt/ Au and 10 g/t Ag

GR Silver Mining President and CEO, Marcio Fonseca commented "The first drill results from the exploration program at Trampolín and Corta Pico show indications of an attractive epithermal vein system between Loma Dorada and the Plomosas Mine Area. The abundance of unexplored veins on surface, in parallel structures close to our existing resource areas, continues to underline the potential for multiple vein systems within the Plomosas Project. More importantly, these new discoveries serve to reinforce our exploration model and targeting strategy to continue to delineate multiple high-grade, precious metal veins with potential to add to future resource expansion. The Trampolín and Corta Pico targets are in the early stages of exploration and our team will continue to investigate their precious metal potential."

Trampolín
The Trampolín vein system can be considered the NE extension of the San Juan vein system, expanding the footprint of gold mineralization over 1,300 m to the NE (Figure 1). The Company has so far received assay results for two drill holes; one HQ diameter diamond drill hole of 183 m length (TPS21-01) testing the vein at 75 m depth, and a shorter 7.2 m BQ diameter, portable diamond drill hole (TPSP21-001) intercepting the near-surface expression of the same vein and testing its vertical continuity (Table 3). The vein is composed of a quartz-cemented crackle breccia with small amounts of galena and pyrite, hosted within an andesitic ignimbrite.

Significant results from the most recent drilling at Trampolín are shown in Table 1.

Corta Pico

The Corta Pico vein system is located 800 m E of the Trampolín vein system (Figure 1). It consists of NE-SW to E-W trending veins. GR Silver Mining's surface channel sampling highlights the E-W trending vein at Corta Pico as highly prospective, with high-grade Au intervals of 2.0 m at 4.45 g/t Au and 112 g/t Ag, and 0.4 m at 9.70 g/t Au and 44 g/t Ag, outlining a Au and Ag-rich target for additional exploration.

Significant results from the channel sampling at Trampolín and Corta Pico are shown in Table 2.

Table 1: Trampolín Drill Results

Table 2: Selective Trampolín and Corta Pico Channel Sample Results

Table 3: Trampolín Drill Hole Coordinates

Table 4: Corta Pico Channel Sample Coordinates

Qualified Person

The scientific and technical data contained in this News Release related to the exploration program were reviewed and/or prepared under the supervision of Marcio Fonseca, P. Geo. He has approved the disclosure herein.

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 two past producer precious metal underground and open pit mines, within the expanded Plomosas Project, which includes the integrated San Marcial Area and La Trinidad acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km² of concessions containing several structural corridors totaling over 75 km in strike length.

GR Silver Mining Ltd.

Mr. Marcio Fonseca, P. Geo.
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.



Contact
Brenda Dayton, VP Corporate Communications, Telephone: +1.604.558.6248, Email: bdayton@grsilvermining.com