GR Silver Mining Ltd.

GR Silver Mining Ltd. is a junior silver exploration company headquartered in Vancouver, Canada, operating primarily in Mexico. The company's portfolio consists of 1 advanced exploration project. Key assets include Plomosas. The company's business model is centered on mineral exploration with the objective of defining economic deposits for potential development. A core operational characteristic is the integration of multi-disciplinary data, including geological, geochemical, and geophysical information, into advanced 3D models to refine exploration targets and generate new geological maps. The enterprise enhances its operational flexibility and cost-efficiency through the ownership of 5 drill rigs, supplemented by third-party contractors as required. A key aspect of its approach involves leveraging an extensive historical database consolidated from previous operators, which provides a significant information advantage. Furthermore, the organization utilizes small-scale bulk sampling trial mining programs, conducted by local operators, as a method to gain incremental knowledge related to high-grade modeling, targeting, and grade reconciliation. This approach is supported by access to existing infrastructure at past-producing sites, including underground developments, which facilitates immediate access for exploration activities and provides a competitive advantage in a prolific mineral district.

Strategic priorities are directed towards expanding the mineralization footprint of its core land package through new discoveries and resource growth. A key initiative involves a partnership with the Centre for Ore Deposit and Earth Sciences (CODES) and a leading expert in regional geology to fine-tune geological models, which has yielded several high-priority targets for drilling. The entity's exploration approach is designed to test for blind mineralization that lacks significant surface expression, using a template derived from geological interpretation, lithogeochemical sampling, and geophysical modeling. Near-term plans include a focused drill program of approximately 1,300 metres in up to 7 shallow holes targeting near-surface, high-grade mineralization. Management is also exploring opportunities to replicate successful small-scale bulk sampling trial mining programs at other historical sites to generate shareholder value and gather technical data. The long-term vision includes achieving critical mass within its operating region by capitalizing on an improving investment climate and recognizing the unrecognized value of its assets with existing permits and infrastructure.

Executive leadership includes Marcio Fonseca as President and Chief Operating Officer, who serves as the qualified person supervising the preparation of scientific and technical information. In October 2024, the company appointed Robert Payment, a CPA and CA, as Chief Financial Officer. The board of directors was strengthened in August 2024 with the addition of 2 new members: Brent McFarlane, a mining engineer with over 30 years of experience in strategic planning, project development, and operations, and Jessica Van Den Akker, a CPA and CA with over 18 years of experience in the resource sector, including senior finance and board roles. A core management philosophy of financial discipline is evidenced by significant cost reductions; from 2022 to 2024, full-year expenses, before specific exclusions, were reduced by 45%, and compensation for key management personnel declined by 41% over the same period. The governance framework utilizes equity-based compensation, including stock options, performance share units, and deferred share units with specific vesting criteria, to align the interests of management, directors, and shareholders.

The corporate structure has been significantly reshaped through strategic transactions. In July 2024, the company completed a major financial restructuring by divesting its 100% interest in its subsidiary, Marlin Gold Mining Ltd., to a private Canadian entity. This sale of non-core concessions eliminated a significant working capital deficit, with the company retaining a 0.5% net smelter return royalty and a 10-year first right of refusal on the divested assets. Earlier, the company consolidated its primary land package through key acquisitions, including the purchase of 100% of Minera La Rastra S.A. de C.V. from First Majestic Silver Corp. in March 2020 and the acquisition of Compañia Minera San Marcial S.A. de C.V. in May 2021 following a 3-year option agreement. In April 2024, the organization finalized a Waiver and Release Agreement with Mako Mining Corp., which settled outstanding obligations related to the prior acquisition of Marlin. Operations are conducted through wholly-owned subsidiaries, including Minera La Rastra S.A. de C.V. and Compañia Minera San Marcial S.A. de C.V., which hold title to the mineral concessions.