Toubani Resources Auger Drilling Confirms Further Gold Mineralization on the Kobada Est Permit of the Kobada Gold Project in Mali

View this email in your browser TOUBANI RESOURCES AUGER DRILLING CONFIRMS FURTHER GOLD MINERALIZATION ON THE KOBADA EST PERMIT OF THE KOBADA GOLD PROJECT IN MALI August 2, 2022, Toronto, Ontario – Toubani Resources, Inc. (formerly African Gold Group, Inc.) (TSX-V: TRE, FRA: 3A61) ("Toubani Resources" or the "Company") is pleased to provide an update on the auger drilling campaign on the Kobada Est permit area of its Kobada Gold Project located in southwestern Mali, Africa. The update is based on the auger drilling completed to date, which commenced on April 7, 2022 and is still ongoing. Additional exploration activities are also planned for the Faraba permit area once this initial auger drilling at Kobada Est has been completed.   Highlights: Significant gold intersections above 0.3 g/t in Target E 20.69 g/t Au over 8.0 m from 2.0 m to 10.0 m (Drill hole E-423) Including 78.9 g/t Au over 2.0 m Including 3.14 g/t Au over 2.0 m 1.81 g/t Au over 8.0 m from 10.0 m to 18.0 m (Drill hole E-412) Including 3.94 g/t Au over 2.0 m 2.42 g/t Au over 2.0 m from 0.0 m to 2.0 m (Drill hole E-417) 720 m by 150 m, 0.5 g/t gold anomaly on Target E Target E potential for extension and widening to the north Toubani Resource's President and CEO, Mr. Danny Callow, stated: "Our auger drilling campaign is the next step of regional exploration to meet conditions on our two exploration permits (Kobada Est and Faraba). The wide spaced drilling programme was designed to identify trends above the background gold grade which then warrants further follow up with targeted drilling. We are very pleased with the results from the initial drilling, particularly in Target E where substantial high-grade intersections occurred. We have targeted additional drilling along strike in this area. These results are extremely encouraging and show the future upside exploration potential of our sizeable land package. It should be noted that this drilling is in an area previously untested, and therefore identifies further upside from what has been reported before. Our success with the drill bit, that has seen a 40% increase in overall resource, and а 140% increase in reserves shows that the Kobada and adjacent concessions are highly prospective and require further exploration to further increase resources and ultimately reserves."   2022 Kobada Est Auger Drilling Campaign   The 2022 Kobada Est auger drilling campaign commenced on April 7, 2022 with a local Malian drilling company (Kounfaga Mining Services SARL) and has completed 6,878 m of drilling to date. The auger holes were laid out on fences either 200 m apart or 400 m apart with the holes being spaced 50 m along the fence lines. All 345 holes were drilled vertically to a depth of 20 m. The auger drillholes, with a 4.4-inch spiral, were sampled in 2 m increments resulting in 3,439 samples being sent to the Bamako SGS Laboratory. Drilling is continuing to test areas of interest.   The focus of the auger drilling campaign was on previously identified target areas, based on the termite soil geochemical sampling and geophysical interpretations, in the larger Kobada Est permit. The aim was to delineate shallow anomalous geochemical areas (testing the top 20 m) and potentially identify mineralised areas and evidence of structures. This would assist in determining the potential of mineralisation on the Kobada Est permit along the Kobada Shear and assist in the sighting of the follow-on AC or RC drilling campaigns.   Figure 1 shows the auger drilling programme, testing ten target areas, along the Kobada Est Shear (Targets A, B, C, D, E and F) and additional areas of interest (Targets L, Q, H, and M) with the geophysical interpretation as background.   Figure 1: 2022 Auger Drilling Programme and Targets over the Kobada Est Permit.   Auger Drillhole Results   Targets A to F were testing the Kobada Est Shear for mineralisation while targets M, H, Q and L were testing soil geochemical anomalies and possible side shears. The strongest results are associated with the central portion of the shear with the southern and northern extents indicating auger geochemical anomalies above 40 ppb (green shaded polygons) with evidence of vein quartz (orange shaded polygons) being identified in the samples. This can be seen in Figures 2 and 3 which have the TMI aeromagnetics as background. The 40 ppb background grade is based on the histogram of 2,722 samples which indicates that the lower background grade is at 40 ppb.   Figure 2: Auger Drilling Results over the Southern Portion of the Kobada Est Shear (Target A to D)   Figure 3: Auger Drilling Results over the Northern Portion of the Kobada Est Shear (Target F). Target E, the central portion of the Kobada Est Shear, is showing the best potential for elevated mineralisation with Target Q also returning some promising results. Figure 4 shows the auger drilling collars for Target E with the 40 ppb geochemical anomalies, vein quartz presence, and gold intersections. The 40 ppb anomaly is approximately 1,200 m by 500 m as a surface expression with a higher grade 0.5 g/t anomaly with an approximate strike of 720 m. Target E could still extend further north and also seems to widen based on the 40 ppb anomaly and the presence of vein quartz. This is evident in Figure 5.  Figure 4: Auger Drilling Results over the Central Portion of the Kobada Est Shear (Target E).   Figure 5: Target E Potential Northern Extension and Widening to the North.   Figure 6 is an oblique view of the strip logs in Leapfrog software for Target E auger holes showing the elevated mineralisation above 40 ppb as disks. There is a possibility that the mineralisation is dipping to the west, but this still needs to be confirmed as the geology is still not understood. TRE geologists will be doing follow up surface geology work to assist in the geological interpretations.   Figure 6: Oblique View of the Elevated Mineralisation in the Auger Drillholes in Target E   The significant gold intersections above 0.3 g/t are shown in Table 1. These intersections occur in four of the Target areas (Target B, E, M and L). Target E has three auger drillholes that have elevated gold grades over 8 m in two of the holes.   The 0.3 g/t grade is based on the mineralisation halos that are used to constrain the main Kobada estimation and used to delineate the geological model.   TARGET BHID FROM (m) TO (m)  GRADE (g/t) COMBINED MINERALISED LENGTH (m)  WEIGHTED AVERAGE GRADE (g/t) B B-313 16 18                0.44 2 0.44 E E-423 2 4                0.32 8 20.69 E E-423 4 6              78.90 E E-423 6 8                3.14 E E-423 8 10                0.39 E E-412 10 12                3.94 8 1.81 E E-412 12 14                1.86 E E-412 14 16                1.11 E E-412 16 18                0.34 E E-417 0 2                2.42 2 2.42 M M-677 8 10                1.62 6 0.91 M M-677 10 12                0.65 M M-677 12 14                0.46 L L-665 0 2              10.10 2 10.1   Table 1: Significant Mineralised Intersections above 0.3 g/t Gold.   Quality Assurance / Quality Control   The auger drillhole collars were sighted using a Garmin handheld GPS. The auger drilling was sampled every metre and then 2 m composites were created, and riffle split for assay samples. All samples were analysed at SGS (Bamako) Laboratory, which is a SANAS (South African National Accreditation System) accredited laboratory (facility accreditation number T0762). A strict QA/QC program was applied to all samples: which include insertion of either certified reference material (CRM's), a blank sample or duplicate every 20th sample (i.e., a rate of approximately 5% of submitted samples). The gold analyses were by fire-assay on 50 grams aliquot with AAS finish. The QAQC samples were monitored per batch and all QAQC samples have passed. Of the 3,439 auger samples, QAQC samples used during sampling comprised 60 standards/certified reference material made up of low grade AMIS0571 (0.59 g/t) and AMIS0569 (0.27 g/t), medium grade AMIS0441 (2.44 g/t) and high-grade AMIS 0559 (12.01 g/t). 78 Blank AMIS0681 samples and 59 field duplicates were inserted into the sample batches.   Future Exploration Work   The initial auger drilling results have identified Target E as the highest priority area for additional drilling to test these anomalies further. Additional auger drilling is currently underway to test the possible northern extension of Target E. Follow up AC or RC drilling will be required in future to test the possible lateral and strike extensions to get a better understanding of the geology in this area. In addition to Target E, Targets Q and L results suggest additional follow up work required.   Figure 7: Future Testing of Target E   Qualified Person   The technical and scientific information in this press release has been prepared, reviewed and approved by Uwe Engelmann, BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA, a director of Minxcon (Pty) Ltd. with respect to mineral resources, who is a Qualified Person as defined by National Instrument 43-101.   About Toubani Resources Inc   Toubani Resources is a TSX Venture Exchange (TSX-V: TRE) listed exploration and development company with a focus on building Africa's next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production.   Toubani Resource's principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed the 2021 definitive feasibility study and is targeting gold production of 100,000 oz per annum. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering the potential for an increase in resource. For more information regarding Toubani Resources visit our website at www.toubaniresources.com.   For more information:   Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@toubaniresources.com   Daniyal Baizak Vice President, Corporate Development +1 (647) 835 9617 Dbaizak@toubaniresources.com   Cautionary statements   This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the auger drilling campaign, the expansion of mineral resources and reserves, and drilling and exploration plans of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". 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 the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals from regulatory authorities; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages; available infrastructure and supplies; any pandemics and other risks of the mining industry. Although the Company 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. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.   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 RELEASE.     Follow on Twitter LinkedIn Follow on Instagram Our mailing address is: info@toubaniresources.com Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.

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

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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.

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