Guanajuato Silver Company Ltd. Completes C$11.35 Million Financing

VANCOUVER, BC / May 9, 2024 – Guanajuato Silver Company Ltd. ("GSilver") is pleased to announce the successful closing of its brokered financing which raised C$11.35 million. The offering, led by Research Capital Corporation and Red Cloud Securities Inc., involved the sale of units priced at C$0.20 each. Each unit includes one common share and a warrant, allowing the purchase of an additional share at C$0.30 until May 9, 2026.

The raised funds are allocated for enhancing mining operations, expanding the Topia mine processing facilities, covering corporate expenses, and funding detailed exploration of the San Ignacio and Valenciana mineral properties. The offering included sales to accredited investors in Canada and the United States under specific exemptions, allowing for immediate trading of some securities.

As part of the financing deal, directors and insiders of the company acquired units totaling C$503,000. This related party transaction complies with MI 61-101 as it falls below 25% of the company’s market cap. Furthermore, the agents received a commission and broker warrants as compensation for their roles in facilitating this transaction.