GSilver Arranges Early Payment of US$2.5M Note to Endeavour Silver

GSilver Arranges Early Payment of US$2.5M Note to Endeavour Silver ~ Signs Collective Bargaining Agreement with El Cubo Union ~ VANCOUVER, BC / ACCESSWIRE / November 16, 2021 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) announces that it has arranged for early payment of the US$2.5 million promissory note issued to Endeavour Silver Corp. ("Endeavour") in connection with the Company's acquisition of the El Cubo mine and mill complex due April 9, 2022. In consideration for the early payment, Endeavour has agreed to reduce the principal amount of the note by US$25,000 and settle the Mexican value added tax payable on the purchase price for El Cubo represented by the note (the "VAT") for common shares of the Company (the "VAT Settlement"). Subject to acceptance of the TSX Venture Exchange (the "TSXV"), the Company will issue a total of 901,224 common shares (the "VAT Shares") to Endeavour at a deemed price of C$0.55 per share to settle VAT totalling US$396,000 (C$495,573 based on the Bank of Canada indicative exchange of C$1.2517 = US$1.00 on November 15, 2021). The VAT Shares will be subject to a hold period of four months and one day from the date of issuance. Endeavour currently owns 21,331,058 common shares or 10.37% of the issued and outstanding shares of GSilver and will hold a total of 22,232,282 common shares or approximately 10.76% of GSilver following completion of the VAT Settlement. As such, the VAT Settlement constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, as neither the fair market value of the VAT Settlement nor the fair market value of the VAT Shares to be issued to Endeavour will exceed 25% of GSilver's market capitalization, the VAT Settlement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101.The Company will file a material change report in connection with the VAT Settlement less than 21 days before the expected closing date of such transaction, which the Company deems reasonable in the circumstances to be able to complete the VAT Settlement in an expeditious manner. Collective Bargaining Agreement: The Company is also pleased to announce that it has signed, through its Mexican subsidiary Obras Mineras El Pinguico, S.A. de C.V., a new Collective Bargaining Agreement ("CBA") with El Sindicato Nacional De Trabajores Mineros, Metalúrgicos, Siderúrgicos y Similares De La Republica Mexicana ("the Union"), the union representing workers at the Company's El Cubo mining operations. The long-term agreement calls for the Company to adhere to all Mexican federal labour laws pertaining to health and safety within the mine and plant, and to basic federal standards of compensation. As is customary with these agreements, salaries will be reviewed yearly with employee benefits being reviewed on a bi-annual basis. James Anderson, Chairman and CEO said: "We are very pleased to have proactively entered into this agreement with the Union, establishing long-term labor tranquility and goodwill at our El Cubo operation. We see this agreement existing within a framework of enduring co-operation with the Union, and with Union workers. We welcome a continuation of the collaboration that we have had with the Union throughout this process." Major Points to the Agreement: GSilver has met its objective of negotiating and entering into a new CBA with favorable base level economics for its mining operations at El Cubo. The agreement has been ratified and filed with the Federal Board of Conciliation and Arbitration in Mexico City. Annual costs associated with having this new CBA represent a significant cost savings compared with the former CBA at El Cubo. A relationship of mutual respect has been achieved between GSilver and the Union. As compensation to the Union for terminating its last CBA (in place for over 70 years with multiple previous employers) and establishing a more modern and straightforward CBA with GSilver, the Company has agreed to make a one-time payment (the "One-Time Payment") of 10 million Mexican pesos (approximately US$490k) to the Union, payable in instalments over an 18-month period. Subject to acceptance of the TSXV and final approval of the Union, a portion of the One-Time Payment may be satisfied in GSilver shares. 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 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, 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: 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 number of VAT Shares to be issued to Endeavour in connection with the VAT Settlement, the ability of GSilver to continue to ramp up production at El Cubo both in tonnes and head-grade and carry out future sales of silver and gold concentrate, the annual cost savings to the Company of the new Union CBA over the previous CBA and projected long-term labor tranquility and goodwill at El Cubo; the Company's ability to restart production from the El Pinguico mine and supply sufficient quantities of silver and gold bearing material from El Pinguico and El Cubo to the El Cubo mill to produce concentrate at the projected amounts, grades, costs and revenues; the Company's future development and production activities; estimates of mineral resources and the accessibility, attractiveness, mineral content and metallurgical characteristics thereof; the opportunities for future exploration, development and production at El Cubo and El Pinguico and the proposed exploration, development and production programs therefor and the timing and costs thereof; and the success related to any future exploration, development and/or production 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: the VAT Settlement will be acceptable to the TSXV on the terms set out above, 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, labor, materials, supplies and services (including transportation); no union or other labor-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, union or other 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 the TSXV will accept the VAT Settlement on the terms set out in herein or at all. Further, there is uncertainty surrounding GSilver's ability to successfully ramp-up 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 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 Pinguico and/or El Cubo 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. 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 SOURCE: Guanajuato Silver Company Ltd. View source version on accesswire.com: https://www.accesswire.com/673222/GSilver-Arranges-Early-Payment-of-US25M-Note-to-Endeavour-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.

Investor Update: Recent News & Media

Check out recent news and media appearances from White Gold Corp. below, and stay tuned as the Company continues to release results from its 2021 exploration program in due course.

Share this story... ‌ ‌ ‌ White Gold Corp. has recently released significant exploration results from its 2021 exploration program. See below for press releases and recent media appearances and stay tuned as the Company continues to release results from other components of its 2021 exploration program in due course. November 11, 2021 WHITE GOLD CORP. ANNOUNCES 16% INCREASE TO INFERRED RESOURCES AT ITS VG DEPOSIT LOCATED 11 KM NORTH OF ITS FLAGSHIP GOLDEN SADDLE AND ARC DEPOSITS, YUKON, CANADA READ HERE November 8, 2021 WHITE GOLD CORP. INTERSECTS SIGNIFICANT ADDITIONAL GOLD MINERALIZATION INCLUDING 10.36 G/T AU OVER 3.25M AND 1.66 G/T AU OVER 25.5M FURTHER EXPANDING MINERALIZATION AT THE RYAN’S SURPRISE AND ULLI’S RIDGE TARGETS ON ITS FLAGSHIP WHITE GOLD PROPERTY READ HERE November 1, 2021 WHITE GOLD CORP. INTERSECTS NEW ZONES OF SIGNIFICANT GOLD MINERALIZATION AT THE ULLI’S RIDGE TARGET 3 KM SOUTHWEST OF THE COMPANY’S FLAGSHIP GOLDEN SADDLE AND ARC DEPOSITS READ HERE CLICK HERE TO SEE MORE RECENT NEWS RELEASES White Gold Corp. | November 8, 2021 DIAMOND DRILLING RESULTS: RYAN'S SURPRISE & ULLI’S RIDGE TARGETS WATCH HERE White Gold (TSXV:WGO) intersects significant gold mineralization on its flagship White Gold Property | November 9, 2021 The Market Herald interviews David D'Onofrio, CEO of White Gold Corp WATCH HERE Virtual Investor Conferences | October 21, 2021 OTC MARKETS GROUP WELCOMES TERRY BRACE, VP EXPLORATION, FROM WHITE GOLD WATCH HERE Proactive Investor | October 13, 2021 DAVID D'ONOFRIO, CEO, INTERVIEWED BY PROACTIVE INVESTORS WATCH HERE CLICK HERE TO SEE MORE MEDIA APPEARANCES PRESENTATION OVERVIEW FACT SHEET 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 prolific 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 on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts a historic Inferred gold resource of 230,000 ounces at 1.65 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 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 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 Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, prepared by Jean Pautler, P.Geo., and Ali Shahkar, P.Eng., available on SEDAR. (3) See Newmont Corporation press release titled “Newmont Reports 2019 Gold Mineral Reserves of 100 Million Ounces, Largest in Company History”, dated February 13, 2020, available on SEDAR. (4) See Western Copper and Gold Corporation press release titled “Western Copper and Gold Announces Significant Resource Increase at Casino”, dated July 14, 2020, 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.    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 Offering, 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 forwardlooking 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. For Further Information, Please Contact: Contact Information: David D’Onofrio Chief Executive Officer White Gold Corp. (647) 930-1880 ir@whitegoldcorp.ca  To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/

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