GATOS SILVER SIGNS DEFINITIVE AGREEMENT TO RETIRE LOS GATOS JOINT VENTURE TERM LOAN

DENVER–(BUSINESS WIRE)– Gatos Silver, Inc. (NYSE: GATO) (TSX: GATO) (“Gatos Silver” or the “Company”) is pleased to announce it has reached a definitive agreement with Dowa Metals & Mining Co., Ltd. (“Dowa”) to retire the outstanding Los Gatos Joint Venture (“LGJV”) Term Loan (“Term Loan”). Gatos Silver’s attributable portion of the Term Loan and related fees is approximately $154.8 million. The Term Loan retirement is expected to close soon.

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