GR Silver starts trading on OTCQX

Executive Summary

• GR Silver Mining Ltd. has officially commenced trading on the OTCQX Best Market under the symbol GRSLF, having been upgraded from the OTCQB Venture Market.
• The company closed a transaction to dispose of non-core assets, transferring 100% of Goldplay de Mexico S.A. de C.V. (holding 12 non-core concessions) to a private Mexican company in exchange for a 1% Net Smelter Return (NSR) royalty.
• The release includes administrative updates regarding the grant of stock options to consultants and the engagement of an investor relations firm, alongside an operational update on the Plomosas project.

Key Details

• OTCQX Listing: GR Silver Mining began trading on the OTCQX Best Market on the date of the release under the ticker symbol GRSLF. The company met high financial standards and corporate governance requirements to qualify for this upgrade from the OTCQB Venture Market.
• Disposition of Non-Core Assets:
  • Transaction Date: Closed on February 23, 2026.
  • Asset Sold: 100% of issued and outstanding shares of Goldplay de Mexico S.A. de C.V., which owns 12 non-core concessions.
  • Buyer: A private, arm's-length Mexican company (PrivateCo).
  • Consideration: GR Silver Mining received a 1% NSR royalty on the concessions owned by Goldplay.
  • Strategic Impact: The transaction eliminates continuing taxes on non-core concessions without diminishing the company's resource inventory, allowing focus on the core Plomosas project.
• Grant of Options:
  • Quantity: Aggregate of 750,000 common share options granted to external consultants.
  • Exercise Price: 46.5 cents per share.
  • Term: Exercisable for five years.
  • Vesting Terms: 300,000 options granted to a principal of Redwood (investor relations consultant) vest 25% on each of the 3, 6, 9, and 12-month marks from the grant date. All other options are fully vested.
• Investor Relations Engagement:
  • Partner: Redwood Empire Financial Communications LLC.
  • Term: January 1, 2026, to December 31, 2026.
  • Fee: $7,500 USD per month for services only.
  • Termination: Either party may terminate after July 1, 2026, with three months' notice, or immediately for breach.
• Plomosas Project Update:
  • Location: Southwestern edge of the Sierra Madre Occidental, border of Durango and Sinaloa, Mexico.
  • Size: 7,823 hectares (78 square kilometers).
  • Exploration Status: Stepout drilling is underway in the San Marcial SE area to achieve continuous resource growth. Exploration, underground sampling, and metallurgical programs are ongoing at the historical Plomosas mine to support decisions for a bulk sampling test mining program.
  • Geology: Intermediate to low-sulphidation epithermal silver and gold mineralization hosted in hydrothermal breccias and veins.

Notable Quotes

• "Our daily trading volume and support from new shareholders has been growing consistently in the OTC market. To continue our commitment to offer the best platforms to our shareholders we believe that upgrading to the OTCQX is a natural next step and will help us better achieve that goal." — Marcio Fonseca, President and CEO