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GR SILVER MINING LTD. Board/Management Information 2023

Apr 1, 2023

47384_rns_2023-03-31_2da7fdd0-2a1f-4c89-bfb8-24cfe4a6b4d3.pdf

Board/Management Information

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MATERIAL CHANGE REPORT

Item 1. Name and Address of Company

GR Silver Mining Ltd. Suite 1050 – 400 Burrard Street Vancouver, BC V6C 3A6

Item 2. Date of Material Change

March 31, 2023

Item 3. News Release

A news release dated and issued March 31, 2023, at Vancouver, British Columbia through CNW Group and SEDAR.

Item 4. Summary of Material Change

GR Silver Mining Announces Executive Departure

  • Item 5. Full Description of Material Change

See news release, a copy of which is attached hereto.

Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102

  • Not applicable.

Item 7. Omitted Information

  • Not applicable.

Item 8. Executive Officer

Marcio Fonseca, President & COO Telephone: 1.604.202.3155

Item 9. Date of Report

March 31, 2023

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March 31, 2023

GR Silver Mining Announces Executive Departure

Vancouver, BC – GR Silver Mining Ltd. (“GR Silver Mining” or the “Company”) (TSXV|GRSL, OTCQB|GRSLF, FRANKFURT|GPE) – announces today the departure of Brenda Dayton, the Company's VP Corporate Communications, effective immediately.

Over the past two years, Brenda has been instrumental in strengthening GR Silver Mining's brand in the industry, building the Company's profile amongst investors and analysts, and improving internal procedures.

CEO and Board of Directors Chair Eric Zaunscherb noted that, "Brenda's experience, energy, organizational skills, and extensive contact list yielded important contributions to the Company. We wish her well in her future endeavours and are confident in her success."

Eric Zaunscherb will assume some of the Company’s investor relations and communications functions going forward.

About GR Silver Mining Ltd .

GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration company engaged in costeffective silver-gold resource expansion on its 100%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of two past producer precious metal underground and open pit mines, within the expanded Plomosas Project, which includes the integrated San Marcial Area and La Trinidad acquisition. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km[2] of concessions containing several structural corridors totaling over 75 km in strike length.

GR Silver Mining Ltd.

Eric Zaunscherb

Chair & CEO

For further information, please contact: Eric Zaunscherb Telephone: +1.647.293.8457 Email: [email protected]

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking statements” within the meaning of applicable Canadian securities legislation and information that are based on the beliefs of management and reflect the Company’s current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company. Risks and uncertainties may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forwardlooking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

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 press release.

[email protected]

GR Silver Mining Ltd. Suite 1050 - 400 Burrard Street Vancouver, BC V6C 3A6