Mr. James Anderson reports

GUANAJUATO SILVER GRADUATES TO TSX VENTURE EXCHANGE TIER 1 STATUS

Guanajuato Silver Company Ltd. has received from the TSX Venture Exchange approval for graduation from Tier 2 issuer status to Tier 1 issuer status. Guanajuato will commence trading as a Tier 1 issuer on Feb. 14, 2025.

Tier 1 is the TSX-V's premier tier and is reserved for the TSX-V's most advanced issuers with the most significant financial resources. The TSX-V classifies issuers into different tiers based on certain standards, including historical financial performance, stage of development and financial resources.

Research agreement

Additionally, the company has entered into an agreement with Epstein Research to increase investor engagement and create more awareness for the company, starting from the approval of the TSX-V. Epstein Research's engagement is for an initial term of three months, and is subject to renewal or cancellation on 30 days notice in accordance with its terms.

Epstein Research operates from New York, N.Y., and provides promotional services, including social media and on-line advertising, of the company posted on Epstein Research home page, the CEO website, Substack and LinkedIn; monthly written articles on the company; and/or chief executive officer interviews written exclusively by Peter Epstein. The company will pay Epstein Research an amount of $6,000 (U.S.) for the term for these services in equal monthly instalments over a three-month period. There are no common shares or options to be received as compensation in the service agreement. The company will pay for the services from its cash on hand. In addition, Epstein Research is an unrelated and unaffiliated entity in respect of the corporation, and, at the time of the agreement, Mr. Epstein owns securities of the company purchased on the open market. The company has previously convened a trial with Mr. Epstein from June, 2022, to December, 2024, for the same services mentioned above for a total amount of $22,650 (U.S.).

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, the 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 is one of the fastest-growing silver producers in Mexico.

We seek Safe Harbor.