GR Silver Mining Reports High-Grade Silver Results from the 20,000 m Step-Out Drilling Campaign at San Marcial: 15.6 m at 351 g/t Ag, including 2.5 m at 1,395 g/t Ag, in SMS26-03

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VANCOUVER, BC, April 23, 2026 /CNW/ - GR Silver Mining Ltd. ("GR Silver Mining" or the "Company") (TSXV: GRSL) (OTCQX: GRSLF) (FRANKFURT: GPE) is pleased to announce results from drill holes SMS26-01 and SMS26-03 in the SE Area of San Marcial that confirm the continuity of high-grade silver mineralization up to 500 metres down dip from surface. Two silver-mineralized zones were intersected, including multiple intervals of high-grade silver, near the 2023 Expansion Drilling Program, and located on the same cross section as SMS25-09, which returned 75.2 m at 260 g/t Ag (see News Release dated September 3, 2025). SMS26-01 and SMS26-03 represent the first drill holes completed in the SE Area as part of the 2026 Step-Out Drilling Program (Figure 1). The program is currently supported by two drill rigs on site, with additional rigs in transit to complete the planned 20,000 metres by H2 2026. Highlights of 2026 Step-Out Drilling at San Marcial SMS26-01 intersected two distinct mineralized zones (Figure 2) controlled by the intersection of the NW–SE trending San Marcial breccia and NE-trending faults. The upper mineralized zone corresponds to an andesitic dyke cross-cutting the upper Oligocene volcanic sequence, which was previously interpreted as being barren. This high-grade silver intercept opens new exploration potential in the upper part of the system, above the hydrothermal breccias. The lower zone is hosted within chlorite–hematite-rich breccias, located approximately 75 metres below the extensive high-grade interval of SMS25-09. It comprises a broad interval of continuous low-grade silver mineralization, indicating that the system remains open at depth. 6.45 m at 498 g/t Ag, from 235.45 m down hole, including 1.2 m at 1,618 g/t Ag 61.15 m at 15 g/t Ag from 416.45 m down hole, including 0.7 m at 123 g/t Ag and 0.77 g/t Au including 0.9 m at 171 g/t Ag and 0.85 g/t Au SMS26-03 confirms the continuity of high-grade silver mineralization within chlorite-hematite-rich breccias near the contact with the lower Jurassic volcano-sedimentary unit, located between SMS25-09 and SMS23-01 (Figure 2), which previously intercepted 18.8 m at 145 g/t Ag (see News Release dated May 25, 2023). This high-grade silver intercept of multiphase hydrothermal breccias in SMS26-03 confirms the E-W extensional trend affecting the key ...

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