Guanajuato Silver Commences Trading on Aquis Exchange in London, UK

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / October 25, 2022 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF)(AQSE:GSVR) is pleased to announce that it has completed its admission to the Apex segment of the Aquis Stock Exchange ("AQSE") and trading will commence at 8:00 a.m., Tuesday October 25 BST under the ticker "GSVR" and with its existing ISIN CA40066W1068. The Company's shares will also continue to trade on the TSX Venture Exchange.

Highlights

• In April 2021, the Company acquired the El Cubo Mines Complex in Guanajuato, Mexico and successfully restarted production of silver and gold concentrate in October 2021.
• On August 4, 2022, the Company acquired three additional precious metals mines: the Valenciana Mines Complex and the San Ignacio Mine both located in Guanajuato, Mexico and the Topia Mine located in Durango, Mexico. All three mines are currently in production (see GSilver news release dated August 4 2022 - GSilver Closes Acquisition of Great Panther's Mexican Mining Assets).
• The Company is targeting an annualized production run-rate of 3.4 million silver-equivalent ounces by the end of 2022, and 5.5 to 6 million silver-equivalent ounces by the end of 2023.

James Anderson, Chairman & CEO of GSilver, said: "As one of the fastest growing silver producers in Mexico, Guanajuato Silver offers investors in the United Kingdom direct exposure to the production of precious metals. As we continue to grow our silver production profile both through the optimization of our existing operations and through further mine acquisitions, we will also look to grow our shareholder base in the United Kingdom through the facilities of the Aquis Exchange."

Andrew Monk, CEO of VSA Capital, said: "We are delighted to now offer UK investors the ability to invest directly in GSilver through this admission to the Aquis Exchange which provides a perfect platform for fast growing companies. VSA believes the opportunities for GSilver are significant as has been demonstrated by other silver producers which operate in the same jurisdiction, and why we anticipate good investment interest in London for GSilver."

The Company will have a dual listing with its common shares fully fungible through a CREST Depositary Interest ("CDI"). The CDIs will carry the same ISIN as the Common Shares listed in Canada on TSXV. GSilver has a market capitalization of approximately £77 million and the issued share capital of GSilver comprises 299,858,356 common shares. VSA Capital will act as the AQSE Corporate Advisor and Broker to GSilver going forward.