Mr. Marcio Fonseca reports

GR SILVER MINING GRANTS OPTIONS

GR Silver Mining Ltd. has granted incentive stock options to certain eligible persons to purchase up to an aggregate of 600,000 common shares of the company pursuant to the company's omnibus long-term incentive plan and the policies of the TSX Venture Exchange. The options have a five-year term, with one-third vesting on the date of grant and a further one-third vesting on each of the first and second anniversaries of the date of grant. All of the foregoing options are exercisable at a price of 33 cents per common share. The options, and any common shares issued on exercise thereof, have a hold period expiring on Feb. 3, 2026, in accordance with the policies of the TSX-V.

About the Plomosas project

The Plomosas project, including the recent high-grade silver discovery in the San Marcial SE area, is progressing in 2025 as an emerging high-grade silver district located in southwestern edge of the Sierra Madre occidental, Sinaloa, Mexico. The Plomosas project, covering 7,823 hectares, including the historical Plomosas underground mine. Benefits from mine infrastructure, road access and existing permits associated with past-producing mining sites. The district contains intermediate to low-sulphidation epithermal silver and gold mineralization, hosted in hydrothermal breccias and veins. Recent success in exploration and drilling has delineated wide, high-grade, shallow hydrothermal breccias in the San Marcial area, including the SE area discovery, where stepout drilling is under way in 2025, aiming for continuous resource growth. At the historical Plomosas mine, where Grupo Mexico operated the underground mine from 1985 to 2000, exploration, underground sampling and metallurgical programs are being conducted to support future decisions regarding the implementation of a bulk sampling test mining program.

About GR Silver Mining Ltd.

GR Silver Mining is a Canadian-based, Mexico-focused mineral exploration company engaged in cost-effective silver-gold resource expansion on its 100-per-cent-owned assets, located on the eastern edge of the Rosario mining district, in the southeast of Sinaloa state, Mexico. GR Silver Mining controls 100 per cent of the Plomosas project, including the former Plomosas underground mine and wide, high-grade silver mineralized zones at the San Marcial area. Recent discoveries in the 78 square kilometres of highly prospective, advanced-stage exploration concessions position the company well for resource expansion at the Plomosas project.

We seek Safe Harbor.