GR Silver Mining Ltd. (TSX-V: GRSL) (OTCQB: GRSLF) (FRANKFURT: GPE) is pleased to announce that the Waiver and Release Agreement with Mako Mining Corp. announced February 15, 2024 (see news release) has now closed. Pursuant to the Agreement, Mako has paid to GR Silver Mining a total of USD$960,000, satisfied in full by the payment to GR Silver Mining of USD$500,000 cash and, following receipt of the required approval of the TSX Venture Exchange, the issuance and delivery to GR Silver Mining of 296,710 common shares of Mako at a deemed price of $2.1007 per share (US$460,000; C$623,300). The shares will be subject to a four-month regulatory hold period from the date of issuance.

About GR Silver Mining Ltd.

GR Silver Mining is a Canadian-based, Mexico-focused junior 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 two past producer precious metal underground and open pit mines, within the expanded Plomosas Project, which includes the integrated San Marcial Area. In conjunction with a portfolio of early to advanced stage exploration targets, the Company holds 734 km² of concessions containing several structural corridors totaling over 75 km in strike length.