GR Silver Mining Ltd. (TSX-V: GRSL) (FRANKFURT: GPE) is pleased to announce that it has completed its previously announced (see news release dated July 28, 2025) underwritten private placement offering issuing 69,000,000 units of the Company at a price of $0.20 per Unit, for aggregate gross proceeds of $13,800,000, including 9,000,000 Units ($1,800,000) sold pursuant to the full exercise of the over-allotment option granted to Research Capital Corporation, the sole underwriter and sole bookrunner, pursuant to the Underwriting Agreement (defined below).

Each Unit was comprised of one common share of the Company and one-half of one Common Share purchase warrant of the Company. Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.28 per Common Share at any time until August 13, 2028.

The Company intends to use the net proceeds from the Offering for advancement of its Plomosas Silver Project in Mexico, working capital and general corporate purposes.

“With the closing of this financing and the full exercise of the over-allotment option, the Company has strengthened its liquidity position,” said Marcio Fonseca, President & CEO. “This capital gives us the ability to unlock the value of our Plomosas Project, by advancing the step-out resource expansion drilling program at the San Marcial Area focused on high-grade silver mineralization, and continuing the Bulk Sampling Test Mining (“BSTM”) activities at the historic Plomosas Underground Mine.  Both activities at the Plomosas Project aim to deliver long-term value for all shareholders , with potential resource expansion and advancing more detailed studies at the past producer underground mine. We thank our investors for their continued confidence and support.”

The Units were issued pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemptions, to purchasers resident in Canada (other than the province of Québec) and in other qualifying jurisdictions outside of Canada on a private placement basis pursuant to relevant prospectus or registration exemptions in accordance with applicable laws, and are not subject to a statutory hold period pursuant to applicable Canadian securities laws. The Offering remains subject to the final approval of the TSX Venture Exchange.

The Company entered into an underwriting agreement  dated August 13, 2025, with the Underwriter, pursuant to which the Company (i) paid the Underwriter a cash commission of $828,000, and (ii) issued an aggregate of 4,140,000 non-transferable broker warrants. Each Broker Warrant entitles the holder to purchase one Unit at an exercise price equal to the Offering Price at any time until August 13, 2028.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any U.S. state securities laws, and such securities may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or compliance with the requirements of an exemption therefrom.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction.

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%-owned assets, located on the eastern edge of the Rosario Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% 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 km² of highly prospective, advanced-stage exploration concessions position the Company well for resource expansion at the Plomosas Project.