Precipitate Closes Oversubscribed $2.1M Private Placement of Flow Through and Non-Flow Through Units

Forward this email to a friend View email in your browser   Precipitate Closes Oversubscribed $2.1M Private Placement of Flow Through and Non-Flow Through Units Vancouver, B.C. – December 30, 2021 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG, OTCQB: PREIF) is pleased to announce the closing of its non-brokered private placement of 22,454,333 units of the Company for gross proceeds of C$2,179,390 (the "Offering"). Further to the Company's news releases dated December 7, 2021, and December 20, 2021, the Offering consisted of two parts: flow-through ("FT") units at $0.10 per unit, each unit consisting of one flow-through common share and one-half of a warrant, each whole warrant exercisable at $0.15 per share for 24 months; and non-flow-through ("NFT") units at $0.09 per unit, each unit consisting of one non-flow-through common share and one-half of a warrant, each whole warrant exercisable at $0.15 per share for 24 months. Jeffrey Wilson, Company President & CEO stated, "We are pleased to complete this important offering. Investor demand from supportive existing shareholders and new investors alike, allowed the Company to upsize and oversubscribe the offering to facilitate a more aggressive and sustained exploration campaign for the Newfoundland projects in 2022. Meanwhile, the additional non-flow-through dollars, when combined with the existing treasury, provides a healthy working capital to keep the Company moving forward with a view to leveraging value from our projects in the Dominican Republic. We appreciate the support from investors and look forward to an active and prosperous 2022." The proceeds from the Offering will be used for exploration and development of the Company's mineral property interests in Newfoundland, Canada, and for general working capital purposes. The gross proceeds from the issuance of all flow-through shares will be used to incur Canadian Exploration Expenses ("CEE"), and will qualify as "flow-through mining expenditures" under the Income Tax Act (Canada), which will be renounced to the purchasers of flow-through shares with an effective date no later than December 31, 2021 in an aggregate amount no less than the proceeds raised from the issue of the flow-through shares. The Company paid commissions to finders under the placement consisting of aggregate commissions of C$56,984 cash, 194,444 NFT Units, and the issuance of 825,600 finder's warrants. Each finder's warrant entitles the holder to purchase one common share of Precipitate until December 30, 2023. All securities issued or issuable under the offering are subject to a statutory hold period of four months plus a day following the date of closing, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada. Final closing of this Offering is subject to final acceptance by the TSX Venture Exchange. About Precipitate Gold Additional information can be viewed at the Company's website www.precipitategold.com. On Behalf of the Board of Directors of Precipitate Gold Corp., "Jeffrey Wilson" President & CEO For further information, please contact: Tel: 604-558-0335 Toll Free: 855-558-0335 investor@precipitategold.com Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Offering Disclosure Statements The Offering is available to investors in reliance on exemptions from the prospectus requirement set out in (i) National Instrument 45-106 Prospectus Exemptions, (ii) BC Instrument 45-534 – Exemption from Prospectus Requirements for Certain Trades to Existing Security Holders; and (iii) BC Instrument 45-536 Exemption from Prospectus Requirement for Certain Distributions Through an Investment Dealer and the corresponding blanket orders and rules in the other Canadian jurisdictions that have adopted the same or a similar exemption from the prospectus requirement (collectively, the "Investment Dealer Exemption"). The Investment Dealer Exemption is available in each of Alberta, British Columbia, Saskatchewan, Manitoba and New Brunswick to a person or company who has obtained advice regarding the suitability of the investment from a person registered as an investment dealer in such person's or company's jurisdiction. As required by the Investment Dealer Exemption, the Company confirms there is no material fact or material change relating to the Company that has not been generally disclosed. Certain insiders of the Company may acquire securities under the Offering. Any participation by insiders in the Offering would constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61‑101 as the fair market value of the Units subscribed for by the insiders, and the consideration for the Units paid by such insiders, would not exceed 25% of the Company's market capitalization. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.'s ("Precipitate" or the "Company") current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. There is no assurance the Company will be successful in closing the Offering on the terms outlined above, or at all; and there is no assurance the proceeds of the Offering will be allocated or spent in the manner set forth above. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Copyright © 2021 Precipitate Gold Corp., All rights reserved. You are receiving this email because you subscribed for updates via our website. Our mailing address is: Precipitate Gold Corp. 625 Howe Street, Suite 1020 Vancouver, BC V6C 2T6 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list

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Seasons Greetings from Precipitate Gold Corp (PRG.V)

Forward this email to a friend View email in your browser   Seasons Greetings from Precipitate Gold Corp (PRG.V) Copyright © 2021 Precipitate Gold Corp., All rights reserved. You are receiving this email because you subscribed for updates via our website. Our mailing address is: Precipitate Gold Corp. 625 Howe Street, Suite 1020 Vancouver, BC V6C 2T6 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list

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Feliz Navidad de Guanajuato Silver

Copyright © 2021 Guanajuato Silver Company Ltd., All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Guanajuato Silver Company Ltd. 578 – 999 Canada Place Vancouver, BC V6C 3E1 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.

White Gold Corp. Closes $9M Strategic Financing

TSX.V: WGO, OTCQX: WHGOF, FRA: 29W

WHITE GOLD CORP. ANNOUNCES CLOSING OF FULLY SUBSCRIBED $9 MILLION PRIVATE PLACEMENT; STRATEGIC SHAREHOLDER INCREASES INTEREST TO 19.9% Share this story... ‌ ‌ ‌ Toronto, ON – December 22, 2021 – White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the “Company” or “White Gold”) is pleased to announce the closing of a non-brokered private placement for aggregate gross proceeds of approximately $9,000,000 (the “Offering”) in which Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico”) increased its partially-diluted ownership in the Company to 19.9%. David D’Onofrio, Chief Executive Officer of White Gold, also participated in the Offering. The Offering was comprised of: (i) 3,185,714 common shares in the capital of the Company (the “Common Shares”) at a price of $0.70 per Common Share; (ii) 2,464,286 Common Shares issued on a “flow-through basis” (the “Tranche I FT Shares”) at a price of $0.98 per Tranche I FT Share; and (iii) 5,443,750 Common Shares issued on a “flow-through basis” (the “Tranche II FT Shares”, and together with the Common Shares and the Tranche I FT Shares, the “Offered Shares”) at a price of $0.80 per Tranche II FT Share “We are very grateful for the continued support of Agnico and our other shareholders and are now fully financed for what we expect to be another exciting and impactful exploration program in 2022. This past season we drilled one of the best holes in the district to date with the maiden diamond drill program on our Betty property and also continued to demonstrate the potential to increase our significant defined gold resources. We are excited to follow up on these and other targets to further demonstrate the expansiveness of gold mineralization in the White Gold district and the effectiveness of our scientific, data-driven exploration methodologies,” stated David D’Onofrio, Chief Executive Officer. Pursuant to an investor rights agreement between the Company and Agnico dated December 13, 2016, Agnico elected to increase its ownership interest in the Company to 19.9% on a partially-diluted basis following the completion of the Offering. Agnico acquired 5,650,000 Offered Shares and Mr. D’Onofrio acquired 93,750 Offered Shares pursuant to the Offering. The gross proceeds received from the sale of the Tranche I FT Shares and Tranche II FT Shares will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act (Canada) (“Tax Act”) on the Company’s properties in the White Gold District of the Yukon Territory and renounced to subscribers in the Offering effective December 31, 2021. Such Canadian exploration expenses will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act. The net proceeds from the sale of the Common Shares will be used for general corporate expenses. Participation by each of Agnico and Mr. D’Onofrio in the Offering was considered a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the participation of Agnico and Mr. D’Onofrio in the Offering in reliance of sections 5.5(a) and 5.7(1)(a) of MI 61-101. A material change report will be filed in connection with the participation of Agnico and Mr. D’Onofrio in the Offering less than 21 days in advance of the closing of the Offering, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner. The Offered Shares issued pursuant to the Offering are subject to a statutory four month and one day hold period under applicable Canadian securities laws expiring on April 23, 2022. The Offering is subject to the final acceptance of the TSX Venture Exchange (“TSXV”). FOLLOW US ‌ ‌ ‌ ‌ ‌ About White Gold Corp. The Company owns a portfolio of 21,111 quartz claims across 31 properties covering over 420,000 hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au(1). Mineralization at the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s VG Deposit acquired in March 2019 hosts an Inferred gold resource of 267,000 ounces at 1.62 g/t Au(2). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.14 Moz at 1.20 g/t Au, and Inferred Resources of 0.23 Moz at 1.07 g/t Au(3), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu(4). For more information visit www.whitegoldcorp.ca. (1) See White Gold Corp. technical report titled “Technical Report for the White Gold Project, Dawson Range, Yukon Canada”, dated July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR. (2) See White Gold Corp. press release dated November 11, 2021 “White Gold Corp. Announces 16% Increase to Inferred Resource at its VG Deposit Located 11 km North of its Flagship Golden Saddle and Arc Deposits, Yukon, Canada” available on SEDAR. (3) See Newmont Corporation press release titled “Newmont Reports 2020 Mineral Reserves of 94 Million Gold Ounces Replacing 80 Percent of Depletion”, dated February 10, 2021: https://www.newmont.com/investors/news-release/default.aspx (4) See Western Copper and Gold Corporation technical report titled “Preliminary Economic Assessment, Yukon Cnada”, dated August 2, 2020, prepared by M3 Engineering & Technology Corp., available on SEDAR. Qualified Person Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release. For Further Information, Please Contact: Contact Information: David D’Onofrio Chief Executive Officer White Gold Corp. (647) 930-1880 ir@whitegoldcorp.ca   Cautionary Note Regarding Forward Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the use of proceeds from the Offering, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

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GSilver Drills 17.4m of 327 gpt AgEq at El Cubo

GSilver Drills 17.4m of 327 gpt AgEq at El Cubo ~ Exploration at El Pinguico Continues ~ VANCOUVER, BC / ACCESSWIRE / December 21, 2021 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to provide drilling results from its ongoing diamond drill programs at its 100% owned El Cubo mine and its 100% owned El Pinguico exploration project, located east and south, respectively, of the city of Guanajuato, Mexico. Highlights include: 0.6 metres of 538 gpt AgEq drilled at El Cubo (Drill Hole CEB21-003). 25.85 metres of 235 gpt AgEq drilled at El Cubo (Drill Hole CEB21-004). 0.55 metres of 228 gpt AgEq drilled at El Pinguico (P21-015). Over 24,000 metres of core drilling committed for 2022. El Cubo Mine Infill (Grade Control) & Expansion Drilling: Both drill holes CEB21-004 and VPO21-01 cut through long intervals of the Villalpando vein, and other vein structures, within the Villalpando area. Especially significant is drill hole CEB21-004, which drilled into the Cebolletas stope area of the Villalpando vein system; this drill hole returned 17.40m of 1.91 gpt Au and 174 gpt Ag or 327 gpt AgEq (silver equivalent), within a broader interval of 25.85m of 1.38 gpt Au and 124 gpt Ag or 235 gpt AgEq. High grade intervals of 0.55m of 1,025 gpt AgEq and 0.65m of 1,069 gpt AgEq within the longer interval shows the potential of this area of the El Cubo mine to deliver high grade results. James Anderson, Chairman and CEO said: "We are pleased with the results and pace of our initial drilling at El Cubo; our drill program at El Cubo is in-line with our development schedule, and within our expectations for grade and vein width in the Villalpando area. Over the past few months, we have established greater grade control for mining while at the same time we have expanded the footprint surrounding our known resources. The New Year will see a marked increase in exploration drilling, especially in the Dolores and Santa Cecilia areas, where previously under-explored and potentially higher-grade silver and gold bearing transverse veins strike at 90 degrees to the main NW-SE Villalpando/Dolores structures." El Cubo: Cebolletas Stope and 1850 Stope (1) Drill Hole From (m) To (m) Interval (m) Estimated True Width (m) Au gpt Ag gpt AgEq gpt CEB21-002 58.80 61.5 2.70 2.00 1.01 85 166 (including) 60.95 61.5 0.55 0.40 0.93 202 277 CEB21-003 6.95 7.55 0.60 0.45 4.33 192 538 CEB21-004 74.70 100.55 25.85 3.87 1.38 124 235 (including) 80.65 98.05 17.40 2.61 1.91 174 327 (including) 81.20 81.75 0.55 0.10 6.80 481 1025 (including) 87.35 88.00 0.65 0.12 5.80 605 1069 CEB21-005 50.50 53.15 2.65 1.40 0.37 99 128 CEB21-006 115.8 118.45 2.65 1.33 0.88 42 112 CEB21-007 1.20 2.50 1.30 0.88 0.27 104 126 and 57.65 58.85 1.20 0.79 0.74 108 168 (1) Due to a lack of easily accessible drill stations, CEB21-04 was drilled obliquely along the Villalpando vein; the true width of the vein in this area is estimated to be less than 4.0m. GSilver is currently drifting towards the Cebolletas stope and expects to begin mining mineralized material from this area in the first quarter of 2022. Approximately 800 meters of development work has been completed to date - 500 meters in mineralized material and 300 meters in waste - with an additional 300 meters of additional stope development work needed before this area will commence active mining. COO Hernan Dorado remarked: "The drill intercepts at Cebolletas are best discussed in the context of the results of surface holes that were drilled in 2014 by Endeavour Silver Corp. GSilver's Cebolletas results so far validate this stope as a large, highly mineralized zone and are consistent with previous historic surface drill results shown below. Continuity of the vein itself remains excellent, and we look forward to adding this significant stope area to our production schedule in the New Year." El Cubo: Cebolletas Stope and 1850 Stope previous drill result from Endeavour Silver Corp. (2) Drill Hole From (m) To (m) Core Length (m) True Width (m) Ag (g/t) Au (g/t) AgEq (g/t) CVS-09 336.50 340.40 3.90 3.80 82 0.45 133 336.50 338.95 2.45 2.39 116 0.64 167 Including 336.50 337.50 1.00 0.97 131 0.88 201 CAS-41 435.35 443.80 8.45 7.39 50 0.71 107 440.05 441.90 1.85 1.62 179 2.85 407 including 440.70 441.60 0.90 0.79 231 3.87 541 CAS-69 404.30 407.20 2.90 2.51 62 0.48 100 404.30 406.40 2.10 1.82 77 0.62 127 Including 404.30 405.25 0.95 0.82 100 0.78 162 CAS-76 373.00 376.60 3.60 3.29 108 0.92 182 373.75 376.60 2.85 2.60 131 1.12 221 including 373.75 374.50 0.75 0.69 111 2.58 317 CAS-80 354.65 356.55 1.90 1.71 152 0.46 189 Including 354.65 355.15 0.50 0.45 358 0.96 425 CAS-82 381.50 382.70 1.20 1.04 121 0.68 175 380.90 382.70 1.80 1.56 90 0.52 132 Including 381.85 382.35 0.50 0.43 142 0.71 199 (2) These results are historical and have not been verified by GSilver's qualified person and should not be relied upon. Additional recent drilling at El Cubo has focused on the main Villalpando structure in the 4-1500 stope area that connects Cebolletas with the 2175 stope: El Cubo Villalpando / 4-1500 Stope Area Drill Hole From (m) To (m) Interval (m) Estimated True Width (m) Au gpt Ag gpt AgEq gpt VPO21-01 105.80 117.35 11.55 6.35 0.69 65 120 and 124.00 124.75 0.75 0.41 0.85 66 134 114.50 117.35 2.85 1.57 0.88 98 168 VPO21-02 No significant results VPO21-03 72.9 73.25 0.35 0.18 0.75 100 159 and 82.65 83.2 0.55 0.28 0.36 127 156 VPO21-04 90.8 91.4 0.6 0.32 0.48 104 143 133.95 134.9 0.95 0.51 1.07 88 174 136.45 137.95 1.50 0.81 0.69 72 127 VPO21-05 279.65 280.20 0.55 Assays Pending VPO21-06 Currently Drilling Note: All silver equivalent (AgEq) values are calculated based on a long-term gold to silver price ratio of 80:1 as used by mineral industry advisors, Behre Dolbear and Company (USA), Inc., in the Company's NI 43-101 Preliminary Economic Assessment report dated May 6, 2021 (effective date: January 31, 2021); a copy of which is available for review on SEDAR. El Pinguico Project - Maiden Resource Drilling Program: Drilling at El Pinguico in 2021 represented the first-ever modern drilling campaign at this historically high-grade mine. GSilver's drilling program in early 2021 started well with significant intercepts encountered at both the San Jose vein and the better known and understood El Pinguico vein. Later in the year, progress was hampered by extremely slow assay results from commercial laboratories used by the Company, and by mechanical breakdowns of GSilver's drill rig. An effort to intercept additional vein structures NE of the El Pinguico and San Jose veins in drill holes P21-011 and P21-012 met with limited success, while an attempt to intercept the southern extension of the El Pinguico vein returned no significant results from drill holes P21-017 and P21-018. However, the drill rig is now operating at full capacity, and will soon to be moved to an area further north within the El Pinguico mine. The transition of the drill rig to a more favourable position combined with the ability of the Company's newly constructed assay lab to aid in the rapid return of assay information, is anticipated to accelerate drilling results at El Pinguico in 2022. Pinguico Drill Holes P21-001 - P21-010 were previously released (See Guanajuato Silver news release dated May 3, 2021, and July 7, 2021). Drilled from Adit #4 Portal Drill Station (3) Drill Hole From (m) To (m) Interval (m) Au g/t Ag g/t AgEQ g/t P21-001 79.50 80.10 0.60 0.46 81 118 84.73 85.23 0.50 0.15 48 60 87.96 88.46 0.50 0.25 50 70 93.76 95.25 1.49 0.28 34 56 P21-002 79.65 80.20 0.55 0.11 27 36 82.30 83.00 0.70 0.11 13 22 116.25 117.00 0.75 0.17 15 29 P21-003 87.90 88.40 0.50 0.38 88 118 97.95 102.00 4.05 0.68 62 116 including 99.15 100.15 1.00 1.50 122 242 106.80 107.35 0.55 2.11 505 674 P21-004 105.75 106.55 0.80 0.03 2 4 Drilled from San Joes Cross Cut #1 Drill Station P21-005 172.90 173.40 0.50 0.42 29 63 P21-006 151.25 153.00 1.75 0.68 35 89 P21-007 82.25 84.65 2.40 0.30 12 36 P21-008 102.25 103.90 1.65 2.45 125 321 169.20 177.15 7.95 1.35 39 147 169.70 170.45 0.75 8.81 208 913 176.15 177.15 1.00 1.65 45 177 P21-009 91.20 91.85 0.65 0.49 38 77 165.05 165.70 0.65 0.65 51 103 P21-010 107.55 115.65 8.10 1.00 93 173 including 113.00 113.90 0.90 5.96 476 953 P21-011 5.1 6.4 1.30 0.51 37 78 P21-012 68.50 79.75 11.15 0.03 5 8 P21-013 185.30 186.90 1.60 0.44 20 55 P21-014 203.05 204.20 1.15 0.23 2 21 P21-015 135.25 138.20 2.95 0.62 21 70 136.75 137.30 0.55 1.91 75 228 P21-016 169.15 170.05 0.90 0.23 14 33 P21-017 No significant results P21-018 No significant results P21-019 Assays Pending P21-020 Assays Pending P21-021 Currently Drilling (3) No attempt has been made by the Company to establish the true width of veins at El Pinguico reported in this news release as the Company has determined that it would be premature to do so. 2022 Drilling Plans: Guanajuato Silver plans to conduct over 24,000 metres of core drilling in 2022. Encompassing a combination of infill drilling, grade control drilling, resource expansion and exploration drilling; GSilver's drill programs will be executed with a blend of Company owned drill equipment and personnel and external drill contracting teams. The planned division of drilling is as follows: At the El Cubo Mine Villalpando/Dolores 8,000 metres Santa Cecelia/San Nicholas 9,300 metres At the El Pinguico Exploration Project El Pinguico/San Jose 5,300 metres Veta Madre 1,600 metres Beginning in February 2022, GSilver intends to focus on El Cubo's Santa Cecelia area where high grade material has historically been developed and mined. Mineralization within transverse veins in this area contain proportionately higher grades of gold over silver, and Company geologists have identified Santa Cecelia as being particularly underexplored with ample opportunities for resource expansion. Beginning in January 2022, the drill at El Pinguico will be moved north within the mine to target extensions of the El Pinguico vein adjacent to high-grade areas that were mined in the early 1900s. This drilling is part of the Company's methodical exploration program designed to establish a maiden resource at this historic high-grade mine. Additionally, the Company has allocated 1,600 metres of drilling targeting the Veta Madre or "Mother Vein". The Veta Madre is the primary structure within the Guanajuato Mining District; this large multi-pulse epithermal system is responsible for numerous noteworthy precious metals mines along the length of its trend. Further details of this drilling will be announced in early 2022. Laboratory Activation: The Company has completed the construction of an assay laboratory at El Cubo which will aid significantly in grade control for El Cubo mining operations, and for the rapid return of exploration assay data from both the El Cubo and El Pinguico drill programs. The lab is currently capable of assaying approximately 150 samples per day, and will be expanded to a capacity of 200 samples per day shortly. Sampling and quality assurance/quality control: Drill core was first reviewed by a Company geologist, who identified and marked intervals for sampling. The marked sample intervals were then cut in half with a diamond saw; half of the core was left in the core box and the other half was removed, placed in plastic bags, sealed and labeled. Intervals and unique sample numbers are recorded on the drill logs and the samples are sequenced with standards and blanks inserted according to a predefined QA/QC procedure. The samples are maintained under security on site until they are shipped to the analytical lab. The analytical work reported on herein was performed by Corporacion Quimica Platinum S.A de C.V., Silao, Guanajuato, Mexico. To validate our assay results and our preparation procedures, GSilver sends additional random samples representing approximately 20% of all analytical samples to Bureau Veritas in Hermosillo, Sonora, Mexico. Bureau Veritas is an ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) geo-analytical laboratory and is independent of GSilver and its "qualified person". In order to further validate our assay results and our preparation procedures GSilver sent additional random samples representing approximately 10% of all analytical samples to SGS Mexico, S.A de C.V, Durango, Mexico. SGS is an ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) geo-analytical laboratory and is independent of GSilver and its "qualified person". Core samples were subject to crushing at a minimum of 70 per cent passing two millimeters, followed by pulverizing of a 250-gram split to 85 per cent passing 75 microns. Gold determination was via standard atomic absorption (AA) finish 30-gram fire assay (FA) analysis, in addition to Silver and 34-element using fire assay and gravimetry termination. Following industry-standard procedures, blank and standard samples were inserted into the sample sequence and sent to the laboratory for analysis. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results. GSilver detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. Hernan Dorado Smith, a director and officer of GSilver and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release. Private Placement: Further to the Company's news release dated December 8, 2021, the Company wishes to clarify that the total finder's fees paid in connection with the Company's recently completed non-brokered private placement were $120,371 cash and 214,881 finder's warrants, each finder's warrant entitling the holder to purchase one common share of the Company at a price of $0.75 for a period of two years, subject to acceleration in certain events. About Guanajuato Silver Co. Ltd.: GSilver mines and processes silver and gold concentrate from its El Cubo mine and mill. The Company continues to delineate for additional silver and gold resources through underground drilling at El Cubo and its nearby El Pinguico project. Both projects are located within 11km of the city of Guanajuato, Mexico which has an established 480-year mining history. ON BEHALF OF THE BOARD OF DIRECTORS "James Anderson" Chairman and CEO For further information regarding Guanajuato Silver Company Ltd., please contact: JJ Jennex, Communications Manager, +1 (604) 723-1433 Email: jjj@gsilver.com Continue to watch our progress at: www.GSilver.com 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, the Company's proposed development and mining plans at El Cubo, expected areas for future mining operations and the timing thereof, the Company's proposed drilling and exploration programs at El Cubo and El Pinguico in 2022 including the total number of meters to be drilled, the locations thereof and the anticipated results therefrom; the Company's expectations for grade and width of certain veins within the El Cubo and El Pinguico mines including prospective high grade vein locations and opportunities for resource expansion at El Cubo and the establishment of a maiden in-situ resource at El Pinguico; and the Company's ability to improve grade control and rapidly process assay results at its newly constructed assay laboratory at El Cubo. 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 mineral resource estimates at El Cubo and El Pinguico and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock conforming to sampled results and metallurgical performance; tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; success of the Company's combined El Cubo / El Pinguico mining operation and development and exploration programs thereon; prices for silver and gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); 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 to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration, development and production activities, actual resource grades and recoveries of silver and gold, unanticipated geological or structural formations and characteristics, environmental risks, future prices of silver, gold and other metals, operating risks, accidents, labour 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 successfully ramp-up and maintain production at the El Cubo mill to process mineralized materials to produce silver and gold concentrate in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineralized material from its estimated resources at El Cubo and above and underground stockpiles at El Pinguico through the El Cubo mill 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 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 results of the Company's recently announced preliminary economic assessment and projected production of silver and gold concentrate will be realized. There is also uncertainty about the spread of COVID-19 and variants of concern and the impact they will have on the Company's operations, supply chains, ability to access El Cubo and/or El Pinguico or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All the 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.sedar.com. The 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 source version on accesswire.com: https://www.accesswire.com/678811/GSilver-Drills-174m-of-327-gpt-AgEq-at-El-Cubo Copyright © 2021 Guanajuato Silver Company Ltd., All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Guanajuato Silver Company Ltd. 578 – 999 Canada Place Vancouver, BC V6C 3E1 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.