GATOS SILVER PROVIDES UPDATE ON TEMPORARY POWER RESTRICTION AT CERRO LOS GATOS

Gatos Silver_19022021

DENVER–(BUSINESS WIRE)– Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) reports that power from Mexico’s national power grid has been restricted due to the recent severe winter storms in Texas. Northern Mexico is highly dependent upon natural gas from Texas to generate power. Freezing temperatures in Texas compounded by increased energy demands for heating have resulted in U.S. natural gas producers curtailing delivery to Mexico. Accordingly, Cerro Los Gatos’ (“CLG”) power allocation from Mexico’s electric power grid has been temporarily restricted.

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