202618 releases
GR Silver Announces Executive Departure
ManagementGR Silver Reports Successful Metallurgical Test Work Results for the Bulk Sampling Test Mining Program at Plomosas Project
Metallurgical test work for the Bulk Sampling Test Mining Program at the Plomosas Silver Project in Sinaloa, Mexico returned composite feed grades of 595 g/t Ag Eq (SGS) and 585 g/t Ag Eq (SGM), with rougher recoveries of 71.5% Ag and 77.9% Au into a Lead Rougher Concentrate. Cleaner tests increased gold recovery versus 2021 work, and concentrates met commercial specifications with no deleterious element penalties. Silver and gold recoveries of 74% and 86% were set for use in a Preliminary Economic Assessment.
Study results
202526 releases
GR Silver Closes $20.0 Million Bought Deal Offering with Full Exercise of Over-Allotment Option
A $20,000,049.60 underwritten private placement has closed, comprising 66,666,832 units at $0.30 per unit, including 8,332,833 units ($2,499,849.90) from full exercise of the over-allotment option granted to Research Capital Corporation, co-lead underwriter with Red Cloud Securities. Each unit includes one common share and half a warrant exercisable at $0.42 until December 17, 2028. Underwriters received a $1,195,826.98 cash commission and 3,986,090 broker warrants. Proceeds are for the Plomosas Silver Project in Mexico, working capital and general corporate purposes.
FinancingGR Silver Announces $13 Million Bought Deal LIFE Offering of Units
A bought deal offering of 43,334,000 units at $0.30 per unit for gross proceeds of $13,000,200 has been agreed with Research Capital Corporation and Red Cloud Securities, comprising 33,334,000 units under the listed issuer financing exemption and 10,000,000 units by private placement. Each unit includes one common share and half a warrant exercisable at $0.42 for 36 months. Proceeds will advance the Plomosas Project in Mexico, working capital and general corporate purposes, with closing expected around the week of December 15, 2025.
FinancingGR Silver Announces Upsize of Bought Deal LIFE Offering to $17.5 Million
A previously announced bought-deal financing has been upsized to 58,334,000 units at $0.30 per unit for gross proceeds of $17,500,200, split between a $10,000,200 LIFE offering and a $7,500,000 private placement, with Research Capital Corporation as sole bookrunner and co-lead underwriter alongside Red Cloud Securities. Each unit includes one common share and half a warrant exercisable at $0.42 for 36 months. Underwriters' options could raise gross proceeds to $20,000,049.90. Proceeds will advance the Plomosas Project in Mexico, with closing expected around the week of December 15, 2025.
FinancingManagement Discussion and Analysis
CorporateGR Silver Mining Reports High-Grade Silver Intercepts in San Marcial Area Step-Out Drilling. SMS25-12 Returns 5.0 m at 232 g/t Ag, from 332.6m downhole, including 0.9 mat 956 g/t Ag.
Step-out drill hole SMS25-12 at the San Marcial Area of the Plomosas Project in Sinaloa, Mexico returned 5.0 m at 232 g/t Ag from 332.6 m downhole, including 0.9 m at 956 g/t Ag, plus 9.6 m at 124 g/t Ag from 300.7 m including 2 m at 284 g/t Ag, extending mineralization about 75 m below the current resource area. SMS25-11 returned 24.6 m at 29 g/t Ag. Results for SMS25-13 are pending, and a further step-out program is planned for the first half of 2026.
Drill resultsGR Silver Mining Enhances its Mexican Leadership Team Appointing Ing. Cástulo Molina Sotelo as Country Manager
Cástulo Molina Sotelo has been appointed Country Manager, Mexico, for GR Silver Mining. He has more than 35 years of experience in mineral exploration, geology and technical and operational management of precious metal projects in Mexico, including a role in the exploration, discovery and development of the Palmarejo mine during his 2007-2021 tenure at Coeur Mining, where he served as Senior Vice President for Mexico. The Company plans a step-out drilling program at the San Marcial Area of the Plomosas Silver Project, Sinaloa, in 2026.
ManagementGR Silver Mining Delivers Positive Progress on Phase II Underground Sampling at Plomosas Mine
Phase II underground channel sampling at the Plomosas Mine in Sinaloa, Mexico returned 6.7 m at 1,040 g/t AgEq (903 g/t Ag, 0.03 g/t Au, 1.4% Pb, 1.7% Zn) on Level 975, including 1.2 m at 2,365 g/t AgEq, and 4.2 m at 1,018 g/t AgEq on Ramp 3, including 0.5 m at 2,256 g/t AgEq. Sampling covered 21 underground areas, with the Bulk Sample Test Mining Program targeted to commence in early 2026 and an updated resource estimate targeted for 2026. Vice President, Operations Alejandro Cano resigned effective October 15, 2025, and CFO Robert Payment assumed the additional role of Corporate Secretary.
Drill resultsGR Silver Mining Grants Options
Incentive stock options to purchase up to 600,000 common shares have been granted to certain eligible persons under the company's Omnibus Long-Term Incentive Plan, exercisable at $0.33 per share. The options carry a five-year term, with one-third vesting on the grant date and a further one-third on each of the first and second anniversaries. The options and any shares issued on exercise are subject to a hold period expiring February 3, 2026.
CorporateGR Silver Mining Announces Enhancement of Corporate Leadership Team
Daniel Schieber has been named Vice President of Corporate Development & Corporate Relations at GR Silver Mining, reporting to President and CEO Marcio Fonseca, with responsibility for shareholder relations and corporate development marketing planning. Schieber has 15+ years of capital markets experience, co-founded Euroscandic International Group in 2009, and currently serves as CEO and director of American Copper Development Corp. The Company is advancing drilling at its 7,823 ha Plomosas Project in Sinaloa, Mexico.
ManagementGrsl News Release New Findings In Parallalel Breccias Area San Marcialfinal
Drill hole SMS25-10A at the Parallel Breccia Target, about 150 m southwest of the San Marcial Resource Area at the Plomosas Project in Sinaloa, Mexico, returned 9 m at 374 g/t silver with 0.3% Cu and 0.59% W from 24.0 m, including 1 m at 1,542 g/t Ag, 1.4% Cu and 0.62% W. A second zone returned 33 m at 1.44 g/t gold from 122.7 m, including 1.2 m at 32.1 g/t Au. Holes SMS25-12 and SMS25-13 are currently drilling.
Drill resultsGR Silver Mining Receives a 5-Year Milestone Drill Permit for the San Marcial Area of the Plomosas Silver Project
A five-year Informe Preventivo drill permit has been issued by SEMARNAT for the San Marcial Area of the Plomosas Silver Project in Sinaloa, Mexico, authorizing step-out and exploration drilling at 46 new drill sites with no limit on metreage or number of holes. Next steps include completing the final 3 holes of the 2025 summer program, down-hole geophysical surveys, and negotiations with third-party drilling contractors. Summer 2025 drilling included SMS25-09 at 75m of 293 g/t AgEq.
CorporateExtensive High-Grade Epithermal Silver System Intersected: SMS25-09 Returned 75 m at 293 g/t AgEq, Including 6.4 m at 1,915 g/t AgEq
Drill hole SMS25-09 at the SE Deep Extension target of the San Marcial Area, Plomosas Project, Sinaloa, Mexico returned 75.2 m at 293 g/t AgEq (260 g/t Ag) from 263.9 m, including 6.4 m at 1,915 g/t AgEq and 1.8 m at 1,759 g/t AgEq. The hole extends mineralization 100 m beyond the current resource outline, to about 450 m vertically from surface. Holes SMS25-11 and SMS25-12 are drilling further extensions.
Drill results25 08 21 Grsl News Release Step Out Drilling Results San Marcialfinal
Step-out drilling at the Parallel Breccia target, San Marcial Area, Plomosas Project, Sinaloa, Mexico returned 19.9 m at 250 g/t AgEq from 21.5 m in hole SMS25-08, including 1.3 m at 954 g/t AgEq, 3.7 m at 557 g/t AgEq and 4.2 m at 350 g/t AgEq. The same hole, extended to 244.5 m, cut a new epithermal vein grading 1.0 m at 1,685 g/t AgEq (24.6 g/t Au, 13 g/t Ag). SMS25-07A returned 11.1 m at 71 g/t AgEq. Two rigs continue drilling, with SE Deep Extension assays pending.
Drill resultsGR Silver Closes Bought Deal Offering with Full Exercise of Over-Allotment Option for Gross Proceeds of $13.8 Million
A bought deal private placement closed for gross proceeds of $13,800,000 through the issue of 69,000,000 units at $0.20 per unit, including 9,000,000 units ($1,800,000) from full exercise of the over-allotment option granted to sole underwriter Research Capital Corporation. Each unit includes one common share and half a warrant exercisable at $0.28 until August 13, 2028. Proceeds are intended for the Plomosas Silver Project in Mexico, working capital and general corporate purposes. Final TSX Venture Exchange approval is pending.
FinancingGR Silver Announces $12 Million Bought Deal LIFE Offering of Units
A bought deal LIFE offering of 60,000,000 units at $0.20 per unit for gross proceeds of $12,000,000 has been agreed with Research Capital Corporation as sole underwriter, with each unit comprising one common share and one-half warrant exercisable at $0.28 for 36 months. Net proceeds will fund advancement of the Plomosas Project in Mexico, working capital and general corporate purposes. Closing is expected on or about August 12, 2025, with a 15% underwriters' option and 6.0% cash commission.
FinancingGR Silver Mining Extends Silver Mineralization with Step-Out Drilling at San Marcial 11.9 m @ 226 g/t Ag Eq* including0.9m @ 716 g/t Ag Eq
Step-out drilling at the San Marcial Area of the Plomosas Project in Sinaloa, Mexico returned 26 m at 122 g/t Ag Eq from surface in SMS25-05, including 11.9 m at 226 g/t Ag Eq and 0.9 m at 716 g/t Ag Eq, and 36 m at 144 g/t Ag Eq from surface in SMS25-04, including 0.3 m at 2008 g/t Ag Eq. SMS25-03 returned 0.2 m at 2359 g/t Ag Eq from 175.1 m. SMS25-01 and SMS25-02 were abandoned after intersecting a late-stage dyke; holes SMS25-07A, SMS25-08 and SMS25-09 are drilling.
Drill resultsGR Silver Mining Announces Incentive Plan Grants
An aggregate 3,837,205 Performance Share Units were granted to certain executive officers of GR Silver Mining under the Company's Omnibus Long-Term Incentive Plan, subject to TSX Venture Exchange policies. The PSUs vest one year after the grant date upon completion of specific short-term Key Performance Indicators, provided the grantee remains an executive officer or consultant, and each vested PSU entitles the holder to one common share, its cash equivalent, or a combination. Following the grants, 5,721,737 shares are issuable on settlement of outstanding non-stock option awards.
CorporateGR Silver Mining Reports Initial High-Grade Results from Plomosas Mine Sampling Program
Phase I underground sampling at the Plomosas Mine in Sinaloa, Mexico returned assays from 21 samples, including a chip mine face sample on Level 883 of 2,423 g/t Ag Eq (675 g/t Ag, 46.9% Pb, 4.5% Zn, 0.54 g/t Au) and channel samples of 0.6 m at 3,993 g/t Ag Eq on Level 950 and 0.8 m at 2,019 g/t Ag Eq on Level 833. The two-phase, four-month program supports a decision on a Bulk Sampling Test Mining program before year-end, with the BSTM potentially starting in early 2026 and requiring an on-site demonstration processing plant.
Drill resultsGR Silver Mining Announces Incentive Plan Grants
A total of 141,176 deferred share units were granted to non-executive directors as payment of director's fees for the calendar quarter ended June 30, 2025, under the Company's Omnibus Long-Term Incentive Plan, vesting one year after the grant date. Each non-executive director receives DSUs equal in value to $6,000 per quarter, priced on the closing share price at quarter end. Following the grants, 2,484,532 shares are issuable on settlement of all outstanding DSUs and PSUs.
CorporateGR Silver Mining Strengthens Management Structure and Provides Corporate Update
Founder and COO Márcio Fonseca becomes President and CEO effective immediately, with Eric Zaunscherb moving to Executive Chair; effective June 25, Alejandro Cano Cabello was promoted to VP Operations, Mexico, Luis Coto to VP Exploration, and Gerardo Cicilia Calnacasco to Controller, Mexico. Drilling at the San Marcial Area of the Plomosas Silver Project in Sinaloa, Mexico has been expanded to up to 3,000 metres with three rigs active. The Company granted officers options on 750,000 shares at $0.175 for five years.
ManagementGR Silver Mining Completes $1,844,700 Private Placement Financing
A non-brokered private placement has closed, with 14,190,000 units issued for gross proceeds of $1,844,700; the offering was first announced May 8, 2025 and increased May 14, 2025. Finder's fees totalled $104,442 in cash plus 803,400 warrants exercisable at $0.19 for two years. Securities issued are subject to a hold period expiring September 28, 2025. GR Silver Mining holds the 100%-owned Plomosas Project in Sinaloa State, Mexico.
FinancingGR Silver Mining Announces Resumption of Plomosas Silver Project Field Work
Field work, including drilling, has resumed at the Plomosas Silver Project in Sinaloa, Mexico, after a temporary pause taken while the Government of Mexico worked to improve regional security. The team is prioritizing surface investigations ahead of step-out drilling in the NW and SE Extensions of the current NI 43-101 resource, where prior trenching returned 56 m at 196 g/t Ag, including 15 m at 472 g/t Ag. Surface evaluation has been completed along 500 metres of strike length.
Drill resultsGR Silver Mining Increases Private Placement Financing to up to $1.85 Million
A previously announced non-brokered private placement has been increased due to demand, with GR Silver Mining now proposing to sell up to 14,230,770 units at $0.13 per unit for gross proceeds of up to $1.85 million. All other terms remain as set out in the company's May 8, 2025 news release. The offering is subject to applicable securities laws and TSX Venture Exchange policies.
FinancingGR Silver Mining Announces up to $1.56 Million Private Placement Financing
A non-brokered private placement of up to 12 million units at $0.13 per unit will raise gross proceeds of up to $1.56 million. Each unit comprises one common share and one-half warrant, with each whole warrant exercisable at $0.19 for 24 months after closing. Proceeds will fund exploration targeting resource expansion in the San Marcial Area of the Plomosas Project in Sinaloa, Mexico, and general working capital, subject to TSXV approval.
Financing