Guanajuato Silver Announces Closing of Bought Deal Public Offering for Gross Proceeds of C$43.5 Million

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VANCOUVER, BC / ACCESS Newswire / October 9, 2025 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR), a growing Mexican-based precious metals producer,is pleased to announce that it has closed its previously announced "bought deal" public offering of 87,000,000 units of the Company (the "Units") at a price of C$0.50 per Unit (the "Offering Price") for gross proceeds of C$43,500,000 (the "Offering"). The Offering was conducted by Canaccord Genuity Corp. and Red Cloud Securities Inc. (together, the "Underwriters"), as co-lead underwriters and joint bookrunners.

Each Unit consists of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share of the Company at a price of C$0.65 at any time before 5:00 p.m. (Vancouver time) on October 9, 2028.

The net proceeds of the Offering will be used for sustaining and development capital for the Company's four operating mines in Mexico, working capital and general corporate purposes.

The Units were offered by way of a prospectus supplement dated October 3, 2025 (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated August 21, 2024 (the "Base Shelf Prospectus") to purchasers in each of the provinces and territories of Canada (other than Québec) and were also offered by way of private placement in the United States.

In connection with the Offering, the Company has granted the Underwriters an option (the "Underwriter Option") to purchase, on the same terms and conditions of the Offering, up to an additional 13,050,000 Units issued in connection with the Offering. The Underwriter Option is exercisable, in whole or in part, by the Underwriters at any time until and including November 8, 2025. The maximum gross proceeds raised under the Offering would be C$50,025,000 in the event the Underwriter Option is fully exercised.

No new insiders, or control persons, were created as a result of the Offering.

In consideration for their services in connection with the Offering, the Underwriters received a total cash commission of C$2,595,000 and were each issued 2,587,500 non-transferable warrants of the Company (the "Broker Warrants"). Each Broker Warrant entitles the holder thereof to purchase one Common Share at a price of C$0.50 at any time before 5:00 p.m. (Vancouver time) on October 9, 2028.