~ Q1 Silver-Equivalent Production Up 16.1% Over Previous Quarter ~

VANCOUVER, BC / ACCESSWIRE / April 5, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce consolidated production results for the three months ended March 31, 2024. Production results are generated 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, the El Horcon Mine ("Horcon") in Jalisco, Mexico, and the Topia Mine ("Topia") in Durango, Mexico.

Q1 2024 Production Highlights

Production during the quarter of 987,312 silver-equivalent ounces ("AgEq*") is the best quarter in the Company's history since production began at the Company's El Cubo mines complex in Q4 2021; production is derived from 428,279 ounces of silver; 5,384 ounces of gold; 879,242 pounds of lead; and 922,927 pounds of zinc.
Tonnes milled increased by 20.1% over the previous quarter; a total of 165,079 tonnes were processed among GSilver's three production facilities.
Average silver and gold recoveries increased to 88.6% and 89.2% respectively as compared to 84.5% silver recovery and 88.8% gold recovery in Q4, 2023.
James Anderson, Chairman and CEO, said, "Q1 generated our best production performance to date and continues the trend of demonstrable quarter-over-quarter increases in precious metals production. In 2023, we made significant capex investments aimed at improving efficiencies across all of our producing assets; the impact from these improvements is now being realized as evidenced by our strong start to the year. We look forward to building upon our success as we continue to grow Guanajuato Silver into a prominent producer of silver and gold." see & read more on
https://www.gsilver.com/news/2024/897-uanajuatoilvereportsestveruarterlyroduction20240405