Guanajuato Silver Company Ltd. announced changes to its senior management team. These changes are designed to support future expansion of the Company's growing portfolio of mining assets and to augment production from the Company's wholly owned El Cubo Mines Complex ("El Cubo"), Valenciana Mines Complex ("VMC"), and San Ignacio Mine ("San Ignacio") in Guanajuato, Mexico, and the Topia Mine ("Topia") in Durango, Mexico. Hernan Dorado Smith, formally Chief Operating Officer, will now take the position of Chief Strategy Officer; in this new role, Mr. Dorado will focus on developing expansion strategies and formulating new business opportunities within Mexico, in-line with the Company's growth-through-acquisition strategy.

Mr. Dorado is a fifth-generation mining engineer and has been a director of Guanajuato Silver since 2017. In parallel, Mario Valdez has been promoted from VP Operations to Co-Chief Operating Officer. Mr. Valdez will share the position of COO with Ramon Davila, who is Guanajuato Silver's President.

Mario Valdez is a mining engineer and metallurgist with over 38 years of experience in Mexico's mining industry. Prior to joining Guanajuato Silver, Mr. Valdez was the General Manager of Grupo Frisco's San Francisco del Oro mine in Chihuahua. From 2009 to 2014, Mr. Valdez held various senior management roles with First Majestic; notably, he was the General Manager of the La Parrilla silver mine in Durango, and the General Manager at La Encantada silver mine in Coahuila; he ended his tenure with First Majestic as the Vice President of Mexican Operations.