Precipitate Commences Field Work at Ace Gold Project in Newfoundland, Canada and Grants Stock Options

Forward this email to a friend View email in your browser   Precipitate Commences Field Work at Ace Gold Project in Newfoundland, Canada and Grants Stock Options Vancouver, B.C. – October 18, 2021 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG, OTCQB: PREIF) is pleased to announce it has commenced exploration field work on the Ace Project (or the "Project") located at the northern end of the highly prospective Exploits Subzone (Dunnage Tectonic Zone) of north-central Newfoundland, Canada. With a Newfoundland government permit to conduct prospecting and ground geophysics, the Company has started a project-wide prospecting and geological mapping program. Initially field crews will focus on the newly identified Ace Zone; a 10 - 20 metre wide alteration and shear zone that trends northeast-southwest, with select grab rock samples up to 5.4 g/t gold. Crews will then expand the exploration focus to cover prospective areas where limited past exploration, including government till samples that reported anomalous pathfinder elements (located approximately 2.5 kilometres north of the Ace Zone) and outcropping rocks on the western side of the project(see accompanying map in Figure 1). Figure 1 – Ace Project Highlight Zones Precipitate's President & CEO, Jeffrey Wilson stated, "We are very pleased to commence field work on the Ace Project, which is located within the highly prospective Exploits Subzone geological district of Newfoundland. One of the many benefits of the recently announced option agreement for the Project is the pre-existing permit to conduct field work, which allows us to start our work immediately, with the goal of establishing potential drill targets as efficiently as possible." Precipitate's core objective for this phase of work is to utilize detailed prospecting and surface sampling to discover new mineralized zones to complement the existing Ace zone as potential areas for follow up ground geophysical surveying, which ultimately would refine prospective drill targets for an initial first phase of drilling. Additionally, the Company has submitted an exploration permit application for project-wide airborne geophysical and geochemical (till and lake) sampling surveys, which the Company intends to initiate as a follow-up to the current ground program. On October 12, 2021, the Company announced it had secured exclusive rights to acquire a 100% interest in the Ace Gold Project by way of a four-year Option Agreement, which has now received TSX Venture Exchange approval. Ace Project Highlights * Ace Gold Zone: A recent new discovery of a 10 - 20 metre wide alteration and shear zone that trends northeast-southwest, with select grab rock samples up to 5.4 g/t gold; Ace Gold Zone is situated at the northeast end of a gold enriched geological trend which includes numerous high-grade gold occurrences; 13 kilometres northeast along trend from Ethos Gold Corp's Toogood Property (reported high grade grab samples included: 7,877, 1,276, 1,113, 226 g/t Au) (1) 9 kilometres northeast along trend from Exploits Discovery Corp's Quinlan Veins (reported sample results include: 61.3, 59.0, 14.4, 14.2, and 12.6 g/t Au) (1) Historical reported visible gold and select rock grab samples up to 164 g/t gold at the 'Change Island' mineral occurrence located about 1 kilometre to northeast of property border. Underlain by Exploits Subzone rocks (Dunnage Zone); highly prospective lithologies that host significant gold mineralization across central Newfoundland, including Marathon Gold Corp's Valentine Project which hosts 3.14 Moz M&I at a grade of 1.72 g/t gold.(2) Paved highway and high voltage electrical power lines bisects island in a north-south direction. Accessible by 20-minute Newfoundland government vehicle ferry departing hourly. - For reference: g/t = grams per tonne, Au = gold, m = metres. Moz = million ounces Regional Geology of Ace Gold Project The Ace Gold Project is located on the north-central coast of Newfoundland, within an active gold exploration region that includes high profile gold exploration projects such as Queensway (New Found Gold Corp), Kingsway (Labrador Gold Corp), Dog Bay (Exploits Discovery Corp) and Toogood (Ethos Gold Corp). Project lithologies are part of the major regional Dunnage Tectonostratigraphic Zone, specifically the Exploits Subzone, where claims are dominantly underlain by Ordovician-Silurian age Badger Group sediments and Botwood Group non-marine volcanics, with a general NE-SW trend and sub vertical dip. Project gold mineralization identified to date is associated with possibly orogenic quartz veins, silicification and sulphide minerals pyrite and arsenopyrite, with lesser chalcopyrite and galena; often concentrated within bedding conformable shears and conjugate brittle faults. Figure 2 – Ace Project Geology and Highlight Regional Geochemical Results References: Ethos Gold Corp August 09, 2021 news release and Exploits Discovery Corp website exploitsdiscovery.com and corporate presentation dated September 2021. Reference: Marathon Gold Corp website; marathon-gold.com/valentine-gold-project/ Additionally, the Company announces that it has granted stock options to certain of its directors, officers and consultants to purchase up to 2,150,000 common shares. Each option is exercisable to acquire one common share of Precipitate at a price of $0.095 until October 18, 2026. The options will vest in accordance with the Company's stock option plan and are subject to TSX Venture Exchange acceptance. * Note: Certain information and data in this news release concerning the Ace Project and Exploration Results reported on for nearby and/or regional located gold projects are derived from publicly available sources including public company websites, assessment reports and Newfoundland government technical sources. The reliability of some historical data is unknown but is considered relevant by Company management. The historical data may be non-NI 43-101 compliant and should not be relied upon. It is the Company's intention to verify the historical data, however confirmation work may produce results that differ substantially from the historic results. High grade rock grab samples are selective by nature and are unlikely to represent average grades on the property. This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards. 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. 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. 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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James Anderson Interview

Earlier this week, GSilver Chairman and CEO was interviewed by Kitco News. During the interview, Mr. Anderson discussed a wide range of economic topics, including the state of the global economy, inflation, energy concerns, the present and future price of precious metals, and the current status of the world's newest precious metals producer - Guanajuato Silver. The interview was conducted by Michelle Makori and is well worth watching! The entire interview can be viewed by CLICKING HERE  or by clicking on the image above.  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.

Precipitate Secures Option to Acquire 100% of Ace Gold Project in Northern Newfoundland, Canada

Forward this email to a friend View email in your browser   Precipitate Secures Option to Acquire 100% of Ace Gold Project in Northern Newfoundland, Canada Vancouver, B.C. – October 12, 2021 - Precipitate Gold Corp. (the "Company" or "Precipitate") (TSXV: PRG, OTCQB: PREIF) is pleased to announce it has secured exclusive rights to acquire a 100% interest in three mineral exploration licenses totalling 2,500 hectares making up the Ace Gold Project (the "Ace Project" or the "Project") located at the northern end of the Exploits Subzone (Dunnage Tectonic Zone) of north-central Newfoundland, Canada. Ace Project Highlights * Gold Mineralization, Geology, Regional Geochemistry * Ace Gold Zone: A recent new discovery of a 10-20 metre wide alteration and shear zone that trends northeast-southwest, with select grab rock samples up to 5.4 g/t gold; Ace Gold Zone is situated at the northeast end of a gold enriched geological trend which includes numerous high grade gold occurrences; 13 kilometres northeast along trend from Ethos Gold Corp's Toogood Property (reported high grade grab samples included: 7,877, 1,276, 1,113, 226 g/t Au) (1) 9 kilometres northeast along trend from Exploits Discovery Corp's Quinlan Veins (reported sample results include: 61.3, 59.0, 14.4, 14.2, and 12.6 g/t Au) (1) Historical reported visible gold and select rock grab samples up to 164 g/t gold at the 'Change Island' mineral occurrence located about 1 kilometre to northeast of property border. Underlain by Exploits Subzone rocks (Dunnage Zone); highly prospective lithologies that host significant gold mineralization across central Newfoundland, including Marathon Gold Corp's Valentine Project which hosts 3.14 Moz M&I at a grade of 1.72 g/t gold.(2) Infrastructure Paved highway and high voltage electrical power lines bisects island in a north-south direction. Accessible subdued topographical terrain, with excellent outcrop exposure on seashores and local hill tops. Accessible by 20-minute Newfoundland government vehicle ferry departing hourly. - For reference: g/t = grams per tonne, Au = gold, m = metres. Moz = million ounces Jeffrey Wilson, Company President & CEO stated, "We are excited to bolster Precipitate's project portfolio with another property acquisition in Newfoundland, Canada. Securing the rights to acquire the Ace project establishes the Company within the highly prospective Exploits Subzone geological district, which is host to multiple recent gold and base metal discoveries and known mineral deposits, including New Found Gold's Queensway project (where recent drilling reported an interval of 430.2 g/t gold over 5.25m(3)). The Ace project's location along geological trend from Ethos' Toogood property (and Exploits Discoveries' Quinlan Vein), positions Precipitate within favourable host rocks with significant exploration and discovery potential. Minimal known sampling results from the project have returned encouraging gold grades and support the need for further exploration and targeting with a view to advancing to a first phase of drilling. We're additionally happy to be acquiring this project from well-regarded local prospectors and project generators, the Quinlan family, who are the underlying vendors to Ethos' Toogood project and Exploits' Dog Bay project. This acquisition strengthens Precipitate's presence in Newfoundland as an augment to its 100% owned property assets in the Dominican Republic." Figure 1 – Ace Project Location Map; Figure 2 – Ace Project Regional Mineral Showings Regional Geology of Ace Gold Project The Ace Gold Project is located on the north-central coast of Newfoundland, approximately 80 kilometers north (via combined road and hourly government vehicle ferry) from the community of Gander and its international airport. The region is part of an active gold exploration region that includes high profile gold exploration projects such as Queensway (New Found Gold Corp), Kingsway (Labrador Gold Corp), Dog Bay (Exploits Discovery Corp) and Toogood (Ethos Gold Corp). Project lithologies are part of the major regional Dunnage Tectonostratigraphic Zone, specifically the Exploits Subzone, where claims are dominantly underlain by Ordovician-Silurian age Badger Group sediments and Botwood Group non-marine volcanics, with a general NE-SW trend and sub vertical dip. Project gold mineralization identified to date is associated with possibly orogenic quartz veins, silicification and sulphide minerals pyrite and arsenopyrite, with lesser chalcopyrite and galena; often concentrated within bedding conformable shears and conjugate brittle faults. Figure 3 – Ace Project Geology and Highlight Regional Geochemical Results Option Terms to Acquire Ace Project (100%): The Company has entered into a property option agreement granting Precipitate the exclusive right to earn a 100% interest in 2,500 hectares of three property mineral exploration licences (the "Property") by fulfilling certain elective annual cash and share payments over a 4-year option term, as follows: Date Cash Precipitate Common Shares On closing $15,000 200,000 12 month Anniversary $20,000 250,000 24 month Anniversary $25,000 300,000 36 month Anniversary $30,000 350,000 48 month Anniversary $40,000 500,000 In addition, the Company will reimburse the Vendors for staking costs totalling $6,500. Upon completion of the cash and share payments as set out above, Precipitate will have a 100% interest in the Property, subject to certain net smelter returns ("NSR") of 1.5% granted to the Vendors by Precipitate. Precipitate will have the exclusive right to purchase up to 1.0% of the NSR from the Vendors at any time for $500,000 per 0.5% and retain a right of first refusal to purchase the balance of all NSRs at any time. The property option agreement is subject to TSX Venture Exchange approval. In anticipation of closing these agreements promptly, a geological data review and the development of exploration plans are underway. Initiation of a first phase field program will be announced as it commences. References: Ethos Gold Corp August 09, 2021 news release and Exploits Discovery Corp website exploitsdiscovery.com and corporate presentation dated September 2021. Reference: Marathon Gold Corp website; marathon-gold.com/valentine-gold-project/ Reference: New Found Gold Corp website; newfoundgold.ca and June 29, 2021 news release. * Note: Certain information and data in this news release concerning the Ace Project and Exploration Results reported on for nearby and/or regional located gold projects are derived from publicly available sources including public company websites, assessment reports and Newfoundland government technical sources. The reliability of some historical data is unknown but is considered relevant by Company management. The historical data may be non-NI 43-101 compliant and should not be relied upon. It is the Company's intention to verify the historical data, however confirmation work may produce results that differ substantially from the historic results. High grade rock grab samples are selective by nature and are unlikely to represent average grades on the property. This news release has been reviewed by Michael Moore, Vice President, Exploration of Precipitate Gold Corporation, the Qualified Person for the technical information in this news release under NI 43-101 standards. About Precipitate Gold: Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in Newfoundland Canada and the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company has entered into an Earn-In Agreement with Barrick Gold Corporation, whereby Barrick can earn a 70% interest in the Company's Pueblo Grande Project by incurring US$10M within six years and producing a qualifying Pre-feasibility Study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value, in other favourable jurisdictions. 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. 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. 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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GSilver Begins Mineral Processing at El Cubo

GSilver Begins Mineral Processing at El Cubo ~ Anticipates 1st Concentrate Sales in October ~ VANCOUVER, BC / ACCESSWIRE / October 12, 2021 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce that processing of silver and gold bearing material has commenced at its El Cubo mine and mill located 11km east of the city of Guanajuato, Mexico. The Company's first concentrate sales are anticipated to occur before the end of October, 2021. James Anderson, Chairman and CEO of GSilver commented, "We have achieved yet another significant milestone - on track, on time and on budget - with the recommissioning of our El Cubo mill. I congratulate all of our team members on executing this noteworthy achievement so rapidly." Mineral Processing Commences: Guanajuato Silver Company Ltd. has commenced the processing of silver and gold bearing material at its El Cubo mill. The Company is producing a bulk silver and gold concentrate that will be sold to Ocean Partners UK Ltd., as announced in the Company's news release dated Sept. 23rd. (Click Here.) Crushing and grinding of mill feed from El Cubo commenced on October 8, 2021, after GSilver had accumulated over 20,000 tonnes of stockpiled material in the El Cubo storage yard. The Company expects to deliver its first shipment of concentrate by the end of the month and to receive initial payment shortly thereafter. The Company has completed most of the US$3.5m in planned upgrades at its El Cubo floatation processing plant, which is capable of handling approximately 1500 tonnes per day, or over 500,000 tonnes per year. With initial mine production from El Cubo planned at ~ 750 tonnes per day, the Company's mill has ample capacity for expansion to handle material from the Company's nearby El Pinguico project and/or other sources of material from the greater Guanajuato Mining District. Director and COO Hernan Dorado said: "Having completed the acquisition of El Cubo in April 2021, only six months ago, our mining and mineral processing teams have done an exceptional job in swiftly bringing the mill and related facilities back online. The start-up process is proceeding as envisioned, including short stoppages while all of the moving parts of the plant are tested, retested, and in some cases operated for the first time. This has been a relatively smooth process at El Cubo, and we anticipate a short timeline of ramping up to our planned initial monthly throughput of ~ 22,500 tonnes." Mining: Prior to commencing mill operations, GSilver mined and stockpiled approximately 20,000 tonnes of material from El Cubo. For the ramp up phase, we initially targeted somewhat lower-grade material than is described in the Company's preliminary economic assessment (the "PEA") dated May 6, 2021 (effective date: January 31, 2021) prepared by engineering firm Behre Dolbear & Company (USA) Inc. earlier in the year, a copy of which is available on the Company's website and SEDAR. The Company expects to move on to higher grade areas within the mine in the months ahead. The PEA discusses inferred resources outlined at El Cubo of 1,453,000 tonnes of 214 gpt Ag and 2.78 gpt Au (435 gpt AgEq) and indicated resources of 508,055 tonnes of 194 gpt Ag and 2.44 gpt Au (389 gpt AgEq).[1] Drilling is ongoing at El Cubo and is intended to provide better grade control data at the 2175, 1850, and Cebolletas stope areas. Mineral resources that are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to allow for the classification of the inferred resources at El Cubo as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the inferred mineral resources could be upgraded to indicated or measured mineral resources with continued exploration. There is no guarantee that any part of the mineral resources at El Cubo will be converted into a mineral reserve in the future. Hernan Dorado Smith, a director 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. About Guanajuato Silver Co. Ltd.: GSilver is a mining development company engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company is focused on the refurbishment and swift re-commencement of production from its El Cubo mine and mill and its nearby El Pinguico project, as well as the delineation of additional silver and gold resources through underground and surface drilling. Both projects are located within 11km of the city of Guanajuato, 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 Co. Ltd, please contact: James Anderson, Director, +1 (778) 989-5346 Email: james.anderson@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 amount and timing of initially processed mineralized material and concentrate sales from El Cubo, the planned initial throughput at El Cubo and the expected total capacity of the El Cubo mill, estimates of mineral resources; the attractiveness of potential vein widths and the existence of higher grade areas within the mine; the opportunities for exploration, development and future production from El Cubo and El Pinguico and the proposed exploration and development programs therefor and the timing and costs thereof; the ability of the Company to successfully complete the refurbishment of the El Cubo mill, procure equipment, hire personnel and supply and process sufficient mineralized material and resources from El Cubo and El Pinguico through the mill to successfully begin commercial production of silver and gold in Q4 2021 at the projected amounts, grades, costs and revenues and the success related to any future exploration and/or development programs. 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 operation; 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 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 successfully re-start the El Cubo mill to process mineralized materials to produce silver and gold in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to begin processing mineralized material from its estimated resources at El Cubo and its 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 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 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. These forward-looking statements 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. Cautionary Note for U.S. Investors regarding Reserve and Resource Estimates Canadian public disclosure standards, including NI 43-101, differ from the requirements of United States securities laws. In particular, the terms "indicated mineral resources" and "inferred mineral resources" in this news release are defined in accordance with NI 43-101 under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards for Mineral Resources and Mineral Reserves 2014 ("CIM Definition Standards"). The United States Securities and Exchange Commission (the "SEC") has recently modernized and amended its mineral property disclosure requirements for issuers whose securities are registered with the SEC under the United States Securities Act of 1934 and now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" which are substantially similar to the corresponding CIM Definition Standards. The SEC has also amended its definition of "proven mineral reserves" and "probable mineral reserves" to be substantially similar to the corresponding CIM Definitions. However, U.S. investors are cautioned that while the foregoing terms adopted by the SEC are "substantially similar" to corresponding definitions under CIM Definition Standards, there are differences. As such, there is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted by the SEC. United States investors are also cautioned that while the SEC will now recognize "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", investors should not assume that all or any part of the mineral deposits in these categories would ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described by these terms has a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Accordingly, U.S. investors are cautioned not to assume that any "measured mineral resources", "indicated mineral resources", or "inferred mineral resources" that the Company reports are or will be economically or legally mineable. Furthermore, it cannot be assumed that all or any part of "inferred mineral resources" exist, are economically or legally mineable or will ever be upgraded to a higher category. Under Canadian securities laws, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Disclosure of "contained ounces" in a mineral resource is permitted disclosure under Canadian securities laws. However, historically the SEC only permits issuers to report mineralization that does not constitute "reserves" as in place tonnage and grade, without reference to unit measures. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. securities laws. Guanajuato Silver Company Ltd. PH: +1(778) 989-5346 E: info@GSilver.com W: GSilver.com CA: Suite 578 - 999 Canada Place, Vancouver B.C. V6C 3E1 MX: Carretera - Guanajuato - Silao km 5.5, Int 4, Col. Marfil CP36250, Guanajuato, Gto., Mexico [1] Silver equivalent (AgEq) amounts were calculated using 1 ounce of gold is equal to 80 ounces of silver, on the basis of the average 5-year historic silver and gold prices. SOURCE: Guanajuato Silver Company Ltd. View source version on accesswire.com: https://www.accesswire.com/667683/GSilver-Begins-Mineral-Processing-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.