Star Metro - Guanajuato Silver Appoints Rick Trotman as Senior Vice President

James Anderson, CEO & Chairman, said, "Rick's addition to our team immediately bolsters our technical, financial, and corporate capabilities; he has extensive experience in analyzing all aspects of both exploration and mining operations from planning to asset evaluation to resource development and operational troubleshooting. His addition should immediately prove helpful to Guanajuato Silver as we strive to unlock the full potential of our operating assets in Mexico and start planning for our next wave of growth. This is an important addition to the Guanajuato Silver team, and I look forward to working closely with Rick as we continue to transition the Company into an important producer of both silver and gold."

Mr. Trotman is a professional geologist who has built a remarkable 20-year mining career focused on technical excellence and identifying high-value resource opportunities. Rick brings a complete complement of experience and expertise to Guanajuato Silver; he is fully knowledgeable in all facets of the mining industry, from field exploration to the corporate boardroom, to managing various levels of governmental interaction to robust stakeholder engagement.

Mr. Trotman started his career as a geologist with Barrick Gold, Meridian Gold, and Yamana Gold at various exploration projects and operational mines within the United States and northern Mexico. He then moved to the financial sector in 2010 working as a mining associate and analyst for banks in NYC, where he covered the full range of mining companies from explorers to major North American gold producers. From 2012 to 2017, Mr. Trotman worked at Resource Capital Funds (RCF), a mining-focused private equity firm where he reviewed thousands of potential investment opportunities across the globe. While at RCF, he was responsible for identifying opportunities, managing all aspects of the due diligence process, negotiating and executing investments totaling over $300 million, and managing those investments until their divestment. Most recently, Mr. Trotman was President and CEO of Barksdale Resources, where he successfully navigated a challenging permitting process that allowed him to develop a world class polymetallic exploration target in southern Arizona.

He holds a Master of Science in Economic Geology from the University of Nevada, and a Bachelor of Science in Geology from Washington State University. On behalf of the US State Department, Mr. Trotman provides courses on project valuation and economic geology to various governments across the globe that are looking to enhance their mining industries.

Stock Option Grant

The Company will grant a total of 2,200,000 stock options to officers and employees of the Company. The stock options will have an exercise price of C$0.32 and will expire on July 29, 2030. The options will vest in accordance with the Company's stock option plan and are subject to the acceptance of the TSX Venture Exchange.

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 Mine, 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
E: [email protected]
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, improved financial flexibility, opportunities to grow the Company's business through potential acquisitions at a time of increasing interest in precious metals 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 El Cubo and San Ignacio, 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, market conditions, availability of financing, currency rate fluctuations, high inflation and interest rates, tariffs, 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, 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.

View the original press release on ACCESS Newswire

M.Anderson--SMC