Announcement • Jul 10

Gr Silver Mining Reports Significant Drill Results At San Marcial

GR Silver Mining Ltd. announced positive drill results from the resource expansion drilling program at the San Marcial Area in the Plomosas Project, Mexico. Diamond drilling on the SE Extension target confirms the extension of high-grade silver mineralization for least an additional 150 metres to the southeast of the 2023 NI 43-101 Mineral Resource Estimate boundary. The drill hole results reported in this release represent two separate target areas: 1) the SE Extension target, looking to expand the existing Mineral Resource Estimate to the southeast along the main, breccia-hosted structures; and 2) the Parallel Breccia target, which aims to understand the nature of prospective newly identified mineralized structures in the vicinity of the Mineral Resource Estimate. SMS26-07 intersected two distinct mineralized zones in the SE Extension target. The upper zone is hosted within chlorite–hematite-rich breccias at the contact between the upper Oligocene volcanic sequence and the lower Jurassic volcano-sedimentary sequence, while the lower zone occurs within hydrothermal breccias and stockwork systems developed in the lower Jurassic volcano-sedimentary sequence. The presence of mineralization in both horizons further supports the interpretation of a laterally extensive hydrothermal system and reinforces the exploration potential of the SE Area of San Marcial. 21.9 m true width at 168 g/t Ag and 1.41% Zn, from 191.5 m down hole, including 6.15 m true width at 447 g/t Ag and 0.85% Zn. SMS26-08 intersected a near-surface mineralized zone composed of quartz–calcite–tourmaline stockwork veinlets developed at the intersection with a NE–SW-trending structure. At depth, the hole intersected the NW–SE-trending Parallel Breccia, which hosts low- to moderate-grade gold mineralization, further supporting the structural control and continuity of the mineralizing system. 2.85 m true width at 340 g/t Ag and 0.32 g/t Au, from 63.0 m down hole, including 1.75 m true width at 450 g/t Ag and 0.37 g/t Au. 0.75 m true width at 5.34 g/t Au from 195.0 m down hole. Results from drill holes SMS26-06 and SMS26-07 confirm the extension of high-grade silver mineralization within the chlorite–hematite hydrothermal breccias hosted at the contact between the upper Oligocene volcanic sequence and the lower Jurassic volcano-sedimentary unit. These results increase confidence in the exploration potential of the southeastern extension of the San Marcial system, which will continue to be tested as part of the ongoing 20,000-metre step-out drilling program. The successful intersection in SMS26-07 of 21.9 m at 168 g/t Ag validates the current exploration model by confirming the continuity of the mineralized zone first identified during the 2023 step-out drilling program. This continuity is supported by drill hole SMS23-02, which intersected 11.1 m at 584 g/t Ag, including 0.2 m at 14,365 g/t Ag, and drill hole SMS23-03, which returned 35.2 m at 134 g/t Ag, including 0.9 m at 1,412 g/t Ag. These results demonstrate the continued lateral extension of the high-grade silver system, confirm the extension of high-grade silver mineralization for least an additional 150 metres to the southeast of the Mineral Resource Estimate boundary, and support further expansion drilling towards the southeast. Table 1: SMS26-06 and SMS26-07 Highlights – 2026 Step-Out Drilling Program – SE Extension: SMS26-06: 105.6 to 107.1 m, Hydrothermal Breccia, 1.5 m apparent width, 1.45 m true width, 184 g/t Ag, 0.03 g/t Au, 0.1% Zn; 106.25 to 106.65 m, Hydrothermal Breccia, 0.4 m apparent width, 0.38 m true width, 501 g/t Ag, 0.03 g/t Au, 0.2% Zn; 160.5 to 173.15 m, Hydrothermal Breccia & Stockwork, 12.65 m apparent width, 12.25 m true width, 57 g/t Ag, 0.23 g/t Au; 160.5 to 162.6 m, Stockwork, 2.1 m apparent width, 2.05 m true width, 100 g/t Ag, 0.39 g/t Au, 0.1% Zn. SMS26-07: 191.5 to 213.8 m, Hydrothermal Breccia, 22.3 m apparent width, 21.9 m true width, 168 g/t Ag, 0.08 g/t Au, 0.5% Pb, 1.4% Zn; 201.6 to 207.95 m, Hydrothermal Breccia, 6.35 m apparent width, 6.15 m true width, 447 g/t Ag, 0.09 g/t Au, 0.3% Pb, 0.9% Zn; 207.95 to 212.15 m, Hydrothermal Breccia, 4.2 m apparent width, 4.15 m true width, 159 g/t Ag, 0.23 g/t Au, 2.0% Pb, 5.8% Zn. Drilling in the Parallel Breccia target was designed to better understand the nature of prospective new mineralized structures in the vicinity of the Mineral Resource Estimate. Mineralization intersected in holes SMS26-02, SMS26-05 and SMS26-08 comprises multistage hydrothermal breccias, stockwork, and vein systems hosted within the lower Jurassic volcano-sedimentary sequence. Mineralizing events are structurally controlled by the intersection of NW–SE and NE–SW structural trends and are characterized by quartz–calcite–tourmaline veins containing abundant pyrite, silver sulfides, galena, and sphalerite, locally associated with low- to moderate-grade gold anomalies. Table 2: SMS26-02, SMS26-05 and SMS26-08 Highlights – 2026 Step-Out Drilling Program – Parallel Breccia Target: SMS26-02: 73.00 to 99.80 m, Stockwork, 26.80 m apparent width, 26.80 m true width, 6 g/t Ag, 0.14 g/t Au; 119.35 to 128.50 m, Hydrothermal Breccia & Stockwork, 9.15 m apparent width, 9.15 m true width, 28 g/t Ag, 0.03 g/t Au, 0.2% Zn. SMS26-05: 52.45 to 53.30 m, Stockwork, 0.85 m apparent width, 0.80 m true width, 116 g/t Ag, 0.23 g/t Au. SMS26-08: 18.60 to 18.90 m, Stockwork, 0.30 m apparent width, 0.30 m true width, 306 g/t Ag, 0.23 g/t Au, 0.1% Pb, 1.2% Zn; 63.00 to 66.00 m, Quartz-Calcite-Sulfides Vein, 3.00 m apparent width, 2.85 m true width, 340 g/t Ag, 0.32 g/t Au, 0.2% Pb, 0.6% Zn; 64.25 to 66.00 m, Quartz-Calcite-Sulfides Vein, 1.75 m apparent width, 1.70 m true width, 450 g/t Ag, 0.37 g/t Au, 0.2% Pb, 0.5% Zn; 195.00 to 195.75 m, Stockwork, 0.75 m apparent width, 0.75 m true width, 8 g/t Ag, 5.34 g/t Au. Comparing SMS26-06 and SMS26-07 with the 2023 step-out drill holes SMS23-02 and SMS23-03 confirms a continuous silver-mineralized zone located at the contact between the upper Oligocene volcanic sequence and the lower Jurassic volcano-sedimentary unit. In addition, drilling in the SE Area demonstrates that economically significant mineralization is also developed within the lower Jurassic volcano-sedimentary sequence which enhances the exploration potential of the area, indicating favourable conditions for the discovery of additional mineralized structures within the Jurassic package, with the potential for increased mineralization density and grade toward intrusive bodies.

GR Silver Mining Ltd. Stock Price

GRSL Share Price Performance

GRSL Community Narratives

A Case for GR Silver (TSXV:GRSL) Reaching CAD$3.00 by 2029

A Case for GR Silver (TSXV:GRSL) Reaching CAD$3.00 by 2029

Trending Discussion

Recently Updated Narratives

A Case for GR Silver (TSXV:GRSL) Reaching CAD$3.00 by 2029

Snowflake Analysis

GR Silver Mining Ltd. Key Details

About GRSL

Recent GRSL News & Updates

GR Silver Mining Confirms Extension Of Mineralization At San Marcial With Significant Drill Intercepts

GR Silver Mining Ltd., Annual General Meeting, Oct 26, 2026

Gr Silver Mining Reports Significant Drill Results At San Marcial

Recent updates

GR Silver Mining Ltd. Competitors

Galiano Gold

Belo Sun Mining

Integra Resources

Western Copper and Gold