December 8, 2021 – Vancouver, British Columbia – Guanajuato Silver Company Ltd. (the “Company” or “GSilver”) (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce that it has closed the second and final tranche of its non- brokered private placement offering (the “Offering”) totalling C$9.52 million announced November 18, 2021, and expanded on November 29, 2021 and again on December 6, 2021. The Company issued 2,402,634 units (“Units”) for gross proceeds of C$1,321,449 in the second tranche for a total Offering of 17,304,306 Units for gross proceeds of C$9,517,368, each Unit consisting of one common share of the Company and one half (1/2) of a common share purchase warrant (each whole warrant , a “Warrant”). Each Warrant entitles the holder to purchase an additional common share of the Company at a price of C$0.75 for a period of two years from of closing, subject to acceleration in certain events.