Mr. James Anderson reports

GUANAJUATO SILVER ANNOUNCES GRANT OF STOCK OPTIONS AND RSUS

Guanajuato Silver Company Ltd. has granted stock options and restricted share units (RSUs) to select officers, directors, employees and consultants under the company's stock option plan and omnibus equity compensation plan, respectively.

The company has granted stock options to purchase up to an aggregate of 4.2 million common shares of the company. The stock options will be exercisable for a term of five years from today's date at a price of 20 cents per share pursuant to its stock option plane, subject to vesting on the basis of one-third on the date of grant, one-third after 12 months and one-third after 24 months.

In addition, the company has granted an aggregate of up to 1.6 million RSUs vesting after 12 months from today's date. Each RSU entitles the holder to receive, upon vesting, one common share of the company.

About Guanajuato Silver Company Ltd.

GSilver is a precious metals producer engaged in reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo mine complex, Valenciana mines complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the company produces silver, gold, lead and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest-growing silver producers in Mexico.

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