Mr. James Anderson reports

GUANAJUATO SILVER FILES AMENDED OFFERING DOCUMENT FOR BROKERED FINANCING

Guanajuato Silver Company Ltd. has filed an amended and restated offering document related to its previously announced brokered, best effort offering for aggregate gross process of up to $10,875,000 (refer to the Guanajuato press release dated April 29, 2024). The offering is being led by Research Capital Corp. and Red Cloud Securities Inc. as the co-lead agents and joint bookrunners, on behalf of a syndicate of agents, including Canaccord Genuity Corp. The amended offering document can be viewed under the company's profile at SEDAR+ and at the company's website. Prospective investors should read this amended offering document before making an investment decision.

The offering is anticipated to close on or about the week of May 6, 2024, or such later date as the company and the agents may determine. The closing is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

About Guanajuato Silver Company Ltd.

Guanajuato is a precious metal producer engaged in reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from El Cubo mine complex, the Valenciana mine 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 is one of the fastest-growing silver producers in Mexico.

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