Guanajuato Silver Unveils Resource Update for El Cubo Mine

Guanajuato Silver Company Ltd. (GSilver) (TSXV: GSVR, OTCQX: GSVRF) has released a comprehensive National Instrument (NI) 43-101 Technical Report detailing a substantial increase in mineral resources at its El Cubo mine complex in Guanajuato, Mexico. This report, effective August 1, 2024, marks a pivotal moment for the company as it continues to enhance its resource estimates across its mining operations.

The newly published mineral resource estimate (2024 MRE) reveals an 85% increase in inferred mineral resources, now totaling 35.6 million silver-equivalent ounces (AgEq). This remarkable growth is attributed to a 179% rise in inferred mineral resource tonnes, reaching 3.7 million tonnes compared to previous estimates.

In addition to the inferred resources, the report highlights that indicated mineral resources stand at 3.9 million AgEq ounces, reflecting a minor decline of just 23% over three years of extensive mining activities at El Cubo. This stability suggests that the mine continues to yield valuable resources despite ongoing extraction efforts.

The company is also optimistic about further exploration potential, having commenced drilling in January 2025 aimed at converting inferred resources into indicated resources. This proactive approach underscores GSilver’s commitment to maximizing the value of its assets.

The El Cubo mine is known for its high-grade silver-gold banded epithermal vein deposits, primarily hosted within several stratigraphic formations, including the La Bufa and Guanajuato formations. The 2024 MRE incorporates data from 44 vein domain models, derived from extensive underground mapping and sampling efforts, which now include over 43,919 underground channel samples and 24,602 drillhole samples.

The updated resource estimate is characterized by an average grade of 283.9 g/t AgEq for indicated resources and 298.5 g/t AgEq for inferred resources, showcasing the mine’s potential for high-grade production.

The mineral resource estimate was prepared by APEX Geoscience Ltd., with Warren Black serving as the independent Qualified Person overseeing the process. The methodology employed Ordinary Kriging techniques to ensure accurate representation of silver and gold grades across the mine’s geological landscape.

GSilver has implemented rigorous quality assurance protocols throughout its sampling processes. This includes systematic verification of assay results through independent laboratories, ensuring that data integrity is maintained at every stage of exploration and development.

GSilver’s strategic focus on updating technical reports and resource estimates across all its mining operations positions it favorably within the competitive landscape of precious metals production in Mexico. With four operating mines and three processing facilities, GSilver is rapidly establishing itself as one of the fastest-growing silver producers in the region. The ongoing commitment to exploration and resource optimization will be crucial as market dynamics evolve and demand for precious metals remains strong.

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