October 7, 2022 – Vancouver, British Columbia – Guanajuato Silver Company Ltd. (the “Company” or “GSilver”) (TSXV:GSVR) announces that the Company has arranged to issue 2,468,750 common shares of the Company (the “Shares”) at a deemed price of C$0.40 per Share in settlement of outstanding accounts payable and accrued liabilities to various parties totaling approximately C$987,000 (the “Debt Settlement”).