GSilver Closes Oversubscribed Equity Financing of US$10,722,659.33

GSilver Closes Oversubscribed Equity Financing of US$10,722,659.33 THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESSWIRE / July 21, 2022 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR) is pleased to announce the closing of its equity financing of subscription receipts ("Subscription Receipts") at a price of C$0.33 (equivalent to approximately US$0.256) per Subscription Receipt (the "Equity Financing") announced on June 29, 2022 - "GSilver to Acquire 100% of Great Panther's Mexican Mining Assets"; and July 7, 2022 - "GSilver Increases Debt and Equity Financing Package to US$15.3M." Subscriptions totaling US$10,722,659.33 (C$13,822,178.04) have been received with the funds (less 50% of the agent's cash commission and advisory fees) held in escrow by the Company's escrow agent, Odyssey Trust Company. The escrowed funds will be released from escrow upon satisfaction of certain release conditions, including the completion of the Company's purchase of Great Panther Mining's (TSX:GPR) Mexican subsidiary, Minera Mexicana Rosario S.A. de C.V. ("MMR"), which owns the producing Topia mine and production facility, the San Ignacio mine, the Valenciana Mine Complex and the Cata processing plant in Mexico (the "MMR Acquisition"). Upon closing of the MMR Acquisition, each Subscription Receipt will automatically convert into one unit of GSilver consisting of one common share and one share purchase warrant and the escrowed funds and any interest thereon (less the balance of the Agent's cash commission, advisory fees and expenses) will be released to the Company. Each GSilver warrant will be exercisable for one GSilver share at a price of C$0.50 for a period of 36 months following closing of the MMR Acquisition. If the escrow conditions are not satisfied within 90 days, the escrowed funds and any interest thereon will be returned to the purchasers of Subscription Receipts and such Subscription Receipts will be cancelled. The Company anticipates completing the MMR Acquisition within the next two weeks. Research Capital Corporation and Canaccord Genuity Corp. acted as co-lead agents and joint bookrunners for the Equity Financing, along with Echelon Wealth Partners Inc. and Roth Canada Inc. (collectively the "Agents"). The Company has paid the Agents a cash commission (the "Agency Fee") equal to 6% (2% for arm's length purchasers and 0% for non-arm's length purchasers on the Company's president's list (the "President's List")) of the gross proceeds from the Equity Financing and issued agents' warrants ("Agents' Warrants") equal to 6% (2% for arm's length purchasers and 0% for non-arm's length purchasers on the President's List) of the total number of Subscription Receipts sold. The Agents will also be paid an advisory fee equal to $298,000 and 905,695 Agents' Warrants. Each Agents' Warrant entitles the holder to purchase one common share of the Company at a price of $0.33 for a period of three years following completion of the MMR Acquisition. One-half of the Agency Fee has been placed in escrow with the subscription funds pending closing of the MMR Acquisition. Certain directors and officers of GSilver also participated in the Equity Financing. Debt Component: In conjunction with the Equity Financing, GSilver has also signed a concentrate pre-payment facility term sheet (the "OP Facility") with Ocean Partners (UK), a metals off-take and trading firm, to provide US$5.0M of financing towards the purchase price of MMR and general corporate and working capital purposes. The OP Facility will be for a term of 24 months, secured by a share pledge over MMR and repayable over a period of 21 months following a three-month grace period. Interest on the OP Facility will be calculated at 12-month LIBOR + 7.5%. Closing of the OP Facility will occur concurrently with the MMR Acquisition. All securities issued in connection with the Equity Financing are subject to a four month hold period expiring November 22, 2022. The MMR Acquisition remains subject to TSXV approval and there are no assurances that the Company will successfully complete such acquisition on the terms currently contemplated or at all. Gregory T. Chu, A Law Corporation acted as legal counsel to GSilver and McCarthy Tétrault LLP acted as legal counsel to the Agents. About Guanajuato Silver Company Ltd.: GSilver mines and processes silver and gold concentrate from its El Cubo mine and mill. The Company continues to delineate 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. This new 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 or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Forward-Looking Information and 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 acquisition of MMR on the proposed terms and conditions and the estimated timing for closing thereof, the ability of GSilver to raise the balance of the funding necessary to complete the MMR Acquisition including the OP Facility on the terms and conditions, in the amounts and on the schedule currently contemplated. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. 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, metals prices, currency rate fluctuations, actual results of exploration, development and production activities, unanticipated geological formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining industry. There are no assurances that GSilver will successfully finance and complete the acquisition of MMR on the terms contemplated or at all. In addition, there is continued uncertainty surrounding the spread and severity of COVID-19, the ongoing war in Ukraine, rising inflation and interest rates (domestically and abroad) and the impact they will have on the Company's operations, supply chains, ability to access the MMR properties, El Cubo and/or El Pinguico or procure equipment, contractors and other personnel or raise capital 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 and readers should not place undue reliance thereon. 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/709342/GSilver-Closes-Oversubscribed-Equity-Financing-of-US1072265933 Copyright © 2022 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.

Latin Metals Reports High Grade Copper Mineralization at Auquis Project, Peru

 

Latin Metals Reports High Grade Copper Mineralization at Auquis Project, Peru Vancouver, B.C. – Latin Metals Inc. ("Latin Metals" or the "Company") - (TSXV: LMS) OTCQB: LMSQF) is pleased to announce results of a recently completed rock sampling program at its 100% own Auquis project (the "Property") located in the Coastal Copper Belt, Peru.  A total of 234 rock chip samples were collected to follow up on anomalous soil samples collected earlier in the year (see NR22-06, April 2022). Rock chip sampling has highlighted copper grades ranging from 22 ppm to 12.8% copper across the Property (Figures 1 and 2). Figure 1. Map highlighting areas where recent rock chip sampling was completed over several peak soil anomalies at Auquis Property, Coastal Copper Belt, Peru.  Area defined by red square shows very consistent copper mineralization over 1km x 1km extent.  Keith Henderson, CEO, commented, "Our recent follow-up sampling program has outlined a large 1km x 1km area of consistent mineralization where 101 samples returned copper values of up to 2.37% copper and 236 ppm molybdenum, with a mean value of 0.13% copper and 6.4 ppm molybdenum.  We are very excited about these initial results, with many areas of this large 4,000 hectare property still unsampled." This portion of the Coastal Copper Belt is the focus of attention for several major mining companies, such as Newmont and Vale. Figure 2.  Location of the Auquis Property in Peru and within the Coastal Copper belt. Rock Chip Sampling Details Recently completed rock chip sampling was focused in the highly anomalous areas identified in a previous soil sampling survey.  A total of 234 rock chip samples were collected with values up to 4.74% copper and 236 ppm molybdenum.  Mean values from the 234 samples are 0.10% copper and 5ppm molybdenum.  These results are very encouraging as regional results but looking more closely at the southeastern portion of the Property, mineralization is seen to be very consistent with highly anomalous values of copper and molybdenum.  In this large 1km x 1km area, 101 samples returned values with a mean of 0.13% copper and 6.4 ppm molybdenum.  This area is characterized by multiple phases of intrusive rocks with porphyritic textures and copper oxide mineralization. Next Steps Recent sampling was focused on testing existing soil anomalies.  Other areas of the Property are still open for exploration, and the Company will extend the sampling program.  Next steps include a property-wide rock chip sampling and geological mapping program in the next months to define the area for an initial ground magnetic survey.  QA/QC The work program at Auquis was designed and supervised by Eduardo Leon, the Company's Exploration Manager, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously prepare and track samples which are security sealed and shipped to the ALS laboratory in Lima. Samples used for the results described herein are prepared and analyzed by multi-element analysis using an inductively coupled mass spectrometer in compliance with industry standards. Qualified Person The technical content of this release has been approved for disclosure by Keith J. Henderson P.Geo, a Qualified Person as defined by NI 43-101 and the Company's CEO.  Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company. Investor Relations and Marketing The Company has engaged BTV- Business Television ("BTV") to improve exposure to Canadian capital markets. The engagement is for an initial period of three months, renewable for an additional three months. As consideration, the Company will pay a total fee of $31,850. BTV produces a half-hour weekly investment show, profiles emerging companies across Canada and the US to bring investors information for their portfolio. On air for 20+years, BTV is broadcast nationally on BNN Bloomberg, FOX Business News, BizTV. With Hosts, Taylor Thoen and Jessica Katrichak, BTV interviews top analysts plus features companies at their location for an insightful business perspective. Services provided under the contract with Latin Metals include digital marketing on well-known financial web platforms BNN Bloomberg, Forbes, Yahoo Finance, Seeking Alpha, Financial Post, and Market Watch), Facebook advert campaign, mobile optimized banners, and TV advert for broadcast on BNN Bloomberg. To the Company's knowledge, BTV does not have any direct interest in the Company or its securities. The Company has also engaged OTCWagon for a one-month market awareness program.  As consideration, the Company will pay a total fee of $5,000.  To the Company's knowledge, OTCWagon does not have any direct interest in the Company or its securities.  About Latin Metals Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America.  The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration.  Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration. On Behalf of the Board of Directors of LATIN METALS INC. "Keith Henderson" President & CEO For further details on the Company readers are referred to the Company's web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com. For further information, please contact: Keith Henderson Suite 890 999 West Hastings Street Vancouver, BC, V6C 2W2 Phone: 604-638-3456 E-mail:  info@latin-metals.com Neither 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 news release. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the negotiation of the Option Agreements and exercise of the Option for the Properties, the anticipated content, commencement, timing and cost of exploration programs in respect of the Properties and otherwise, anticipated exploration program results from exploration activities, and the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, the discovery and delineation of mineral deposits/resources/reserves on the Properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.  In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company's Argentine projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company's ability to comply with environmental, health and safety laws. 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 differ materially from any future results, performance or achievements expressed or implied by the forward-looking information.  Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Properties, including the geological mapping, prospecting and sampling programs being proposed for the Properties (the "Programs"), actual results of exploration activities, including the Programs, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX-V acceptance for filing of the Option Agreements, any current or future property acquisitions, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward looking statements.  Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein. View in PDF Format

Copyright 2022 Latin Metals Inc. All rights reserved You are receiving this email because you have subscribed to receive email updates via our website Unsubscribe from this list | View web version Latin Metals Inc. Suite 890 - 999 West Hastings Street Vancouver, BC Canada V6C 2W2 Phone: +1 (604) 638-3456 info@latin-metals.com

GSilver on Track to Close US$15.3M Debt and Equity Financing

GSilver on Track to Close US$15.3M Debt and Equity Financing THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Funding Acquisition of Three Mexican Silver Mines Proceeding on Schedule VANCOUVER, BC / ACCESSWIRE / July 18, 2022 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR) reports that as of July 15, 2022 it has received subscriptions totaling approximately US$10.3M (C$13.3M) towards its equity financing of subscription receipts (the "Equity Financing") announced on June 29, 2022 - "GSilver to Acquire 100% of Great Panther's Mexican Mining Assets"; and July 7, 2022 - "GSilver Increases Debt and Equity Financing Package to US$15.3M." Funds Received: Of such subscriptions, wire transfers totaling approximately US$7.1M are currently being held in escrow by the Company pending closing. The balance of the Equity Financing - approximately US$3.2M - is expected to settle on July 21 2022, as announced and as per GSilver's mantra - "on track, on time, on budget". James Anderson, Chairman & CEO, said, "The oversubscription of our brokered private placement is a major endorsement of the quality of the assets that we are purchasing and the ability of our operations team to execute. We look forward to closing the acquisition of Great Panther Mining's Mexican assets and getting to work on building Guanajuato Silver into a mid-tier precious metals producer." Debt Component: In conjunction with the Equity Financing, GSilver has also signed a concentrate pre-payment facility term sheet (the "OP Facility") with Ocean Partners (UK), a metals off-take and trading firm, to provide US$5.0M of financing towards the purchase price of Great Panther Mining's Mexican subsidiary, Minera Mexicana Rosario S.A. de C.V. ("MMR"), and general corporate and working capital purposes. The OP Facility will be for a term of 24-months, secured by a share pledge over MMR and repayable over a period of 21-months following a three-month grace period. Interest on the OP Facility will be calculated at 12-month LIBOR + 7.5%. Closing of the OP Facility will occur concurrently with the acquisition of MMR (the "MMR Acquisition"). Upon closing, the gross proceeds of the Equity Financing, less 50% of the Agents' cash commission, will be deposited in escrow pending satisfaction of certain escrow release conditions including the concurrent closing of the MMR Acquisition and acceptance of the TSX Venture Exchange (the "TSXV"); the Company expects to close the MMR Acquisition within the next three weeks. All securities issuable in connection with the MMR Acquisition, the Equity Financing and the OP Facility as previously announced will be subject to a statutory hold period of 4 months and one day from the date of issue. There are no assurances that the MMR Acquisition, the Equity Financing and the OP Facility, which remain subject to TSXV approval, will be completed on the terms contemplated by the Company or at all. Stock Options: The Company also announces that its Board of Directors has approved the granting of 5,975,000 stock options, including 3,450,000 options to officers and directors of the Company. The options, which shall vest over a two-year period, are exercisable up to five years from the grant date and have a strike price of C$0.33. These options form part of a total remuneration package for directors, officers, employees, advisors and consultants of GSilver, and are designed to incentivize members of the GSilver team as we embark on our next phase of growth. About Guanajuato Silver Company Ltd.: GSilver mines and processes silver and gold concentrate from its El Cubo mine and mill. The Company continues to delineate 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. This new 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 or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Forward-Looking Information and 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 acquisition of MMR on the proposed terms and conditions and the estimated timing for closing thereof, the ability of GSilver to raise the necessary funding to complete the MMR Acquisition including the Equity Financing and the OP Facility on the terms and conditions, in the amounts and on the schedule currently contemplated, the quality of MMR's mining assets and the Company's Mexican operations team and the ability of the Company to become a mid-tier precious metals producer. Such forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. 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, unanticipated geological formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental or regulatory approvals and permits, and other risks in the mining industry. There are no assurances that GSilver will successfully finance and complete the acquisition of MMR on the terms contemplated or at all. In addition, there is continued uncertainty surrounding the spread and severity of COVID-19, the ongoing war in Ukraine, rising inflation and interest rates (domestically and abroad) and the impact they will have on the Company's operations, supply chains, ability to access the MMR properties, El Cubo and/or El Pinguico or procure equipment, contractors and other personnel or raise capital 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 and readers should not place undue reliance thereon. 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/708883/GSilver-on-Track-to-Close-US153M-Debt-and-Equity-Financing Copyright © 2022 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.

Watch Precipitate Gold CEO Jeffrey Wilson's Interview with CRUX Investor's Matt Gordon

Forward this email to a friend View email in your browser   Watch Precipitate Gold CEO Jeffrey Wilson's Interview with CRUX Investor's Matt Gordon Check out Jeff Wilson's interview with CRUX Investor. Copyright © 2022 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

This email was sent to sgbsura1.weqeqe@blogger.com why did I get this?    unsubscribe from this list    update subscription preferences Precipitate Gold Corp. · 625 Howe Street, Suite 1020 · Vancouver, BC V6C 2T6 · Canada

Media Interview with James Anderson

GSilver's CEO & Chairman, James Anderson, was recently interviewed by BNamericas. The article can be viewed HERE and below and by following this link - https://www.bnamericas.com/en/interviews/why-great-panthers-mexico-mines-make-sense-for-gsilver   Why Great Panther's Mines Make Sense for GSilver    Written by Sam Williams, BNamericas Published Tuesday, July 12, 2022   Guanajuato Silver's planned acquisition of Great Panther Mining's Mexican assets will deliver a swift and sharp rise in silver equivalent production for the company, which is seeking mid-tier status in the Mexican silver space. Vancouver-based Guanajuato Silver (GSilver) aims to restart operations within weeks at the San Ignacio and Valenciana (formerly Guanajuato mine complex) mines, CEO James Anderson tells BNamericas, after the assets were suspended in November due to a lack of tailings capacity, with ore transported to the company's El Cubo facilities for processing. The transaction, for an upfront consideration of US$14.7mn, will also see the company acquire the operating Topia silver-lead-zinc mine in Durango state, where it plans to deliver operational improvements. The result will be a jump from 1.8Moz/y silver equivalent production – once El Cubo is ramped up – to 3.4Moz, and potentially up to 6Moz/y, according to Anderson. BNamericas: What attracted you to the Great Panther Mining assets in Mexico, and what are your plans for them? Anderson: They can be immediately accretive to our business. The assets that we're buying in Guanajuato were in production until November last year. The only reason they had to be shut down was because Great Panther ran out of tailings processing capacity near their Cata plant. We don't have that constraint. We can start mining at both San Ignacio and Valenciana in, I keep saying, three months, but really I think it's within weeks, and start hauling material to El Cubo, where our plant is. We run the El Cubo plant at about 30,000-32,000t per month but in 2018 Endeavour Silver was running it at about 55,000t. We can certainly get up to 40,000-42,000t per month and at that moment we can be taking good grade material from San Ignacio, from Valenciana, from Cubo, and not put too much pressure on any of those mines. For this very modest price we're buying three mines and two processing facilities. The other mine, Topia, in Durango state, it's a little further afield for us. It's a silver-lead-zinc mine. It's been in operation almost continuously since the 1940s, when Industrias Peñoles had it. It's a great mine. If you look at the component pieces here, there's two mines and a processing facility in Guanajuato, but they don't have any tailings capacity. Which other mining company would want those assets? For us they make sense. Topia is operating right now, producing a high-grade lead and silver concentrate that they sell to Samsung. Samsung are very desiring to continue purchasing that concentrate. It's never going to be a big mine. Who else would want to buy it? There's only so many different players… it makes sense to GSilver in a way that it doesn't to many other participants. BNamericas: Is the plan to hang on to Topia? Anderson: We want to hang onto it for the foreseeable future. It's very remote, up in the mountains, about a seven-hour drive from Durango city. There's a tiny airstrip and a town of about 3,000 people. I think that we can mine and operate it better. BNamericas: Can you give me an idea of how important the Great Panther deal is for the company? Anderson: We go from two mines, or really one and a half, with El Cubo and Pinguico where we have been taking material off the surface from an old waste dump, to five mines, from one processing plant to three. There's a dramatic increase in our silver equivalent measured and indicated resources, and we go from 1.8Moz/y silver equivalent production to 3.4Moz/y. That number we feel we can drive into 5-6Moz/y range as early as next year. BNamericas: You recently reported discovery of high-grade tailings at El Cubo. What are the potential implications of that? Anderson: There are several potential implications. In the immediate term we continue to do tests to make sure we know exactly the best way to process this material. Depending on the different processes we use we get very different recoveries. Most of the values in that material are in the form of free gold. How do we cost effectively remove the free gold, and hopefully some of the silver, and get us to a target of 60-65% recoveries from this stuff? We're using shaker tables, or more modern equipment, with concentrators. There are a whole bunch of tests we've done and we're really close to coming to a conclusion about which one works best. [We're aiming for] low capex, low opex, and that's going to drive extra revenue. In the medium term, we believe there are going to be other places we can use this new thinking and technology. There's a lot of free gold in these veins in Guanajuato. There are tailings facilities that are 40 years old, or 140, throughout the district and once we get ourselves set up in this revenue stream there could be lots of opportunities. Some of those concessions are at Topia, but most are in the broader Guanajuato area. [With the Great Panther deal] we go from 7,000ha to 18,000ha in the Guanajuato area. The other thing we're doing as we take mineralized material of that tailings area, that immediately frees up tailings capacity that we could use for our ongoing operations. BNamericas: How is El Cubo performing and how much do you expect to produce there? Anderson: We're ramping up to 1.8Moz/y. We're not quite there yet. We're at a run rate now of about 1.3-1.4Moz silver equivalent. In 4Q21 we produced about 250,000oz silver equivalent, in Q1 we did 275,000oz. In Q2 I would say we'll be just over 300,000oz. The ramp up is continuing. It's perhaps not quite as steep a ramp-up as we planned but we're producing month-on-month more ounces of silver at lower cost. ...   Copyright © 2022 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.