Guanajuato Silver Announces AGM Results

Guanajuato Silver Company Ltd.

30 June 2023

 

Guanajuato Silver Announces AGM Results

Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) reports that all of management's nominees for election as directors of GSilver at the Company's 2023 Annual General Meeting held on June 28, 2023 ("AGM") were duly elected as directors of GSilver for the ensuing year, being James Anderson, Ramon Davila, William Gehlen, Daniel Oliver, Jr., Richard Silas and Hernan Dorado Smith.

Shareholders represented at the AGM also voted in favour of (i) re-appointing KPMG LLP, Chartered Professional Accountants, as the Company's auditors; and (ii) ratifying and approving the Company's existing stock option plan, and (iii) setting the number of directors at six.

Additionally, the Company has identified that the new NI 43-101 preliminary economic assessment report dated June 23, 2023 (effective date:  December 31, 2022) titled "Preliminary Economic Analysis - El Cubo/El Pinguico Silver Gold Complex Project, State of Guanajuato, Mexico" prepared by Behre Dolbear & Company (USA), Inc. (the "2023 PEA") as reported and filed on June 26, 2023 (see GSilver news release dated June 26, 2023 - "Guanajuato Silver Provides Updated PEA for the El Cubo Mines Complex") contained incorrect information with respect to the number of contained gold ounces for the inferred resource at El Cubo and should read 124,400 ounces and not 129,900 ounces as originally reported. Accordingly, Tables 1.1 and 14.3 of the 2023 PEA should be amended to reflect the number contained gold ounces for the inferred mineral resource at El Cubo as 124,400 ounces as bolded in Table 1 below. Such typographical error is confined solely to the above-noted tables in the 2023 PEA and is not material to and did not impact any of the financial metrics or the financial analysis presented in the 2023 PEA as reported on June 23, 2023.

+    The silver equivalent ("AgEq") ounces shown in this column are not included in the 2023 PEA and have been estimated and added directly by GSilver for ease of reference and comparison purposes based on a ratio of 1 ounce of gold is equal to 80 ounces of silver, (one troy ounce converted to the metric system equals 31.1035 grams).

Technical Information

Reynaldo Rivera, VP of Exploration of GSilver, has approved the scientific and technical information contained in this news release. Mr. Rivera is a member of the Australasian Institute of Mining and Metallurgy (AusIMM - Registration Number 220979) and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

For further information regarding Guanajuato Silver Company Ltd., please contact:

JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433

E: [e-mail]

Gsilver.com

VSA Capital - AQSE Corporate Adviser

T: [phone]

Simon Barton - Corporate Finance

Thomas Jackson - Corporate Finance

Andrew Monk - Corporate Broking

David Scriven - Corporate Broking

About Guanajuato Silver

GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico. 

 

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