Guanajuato Silver posts second consecutive quarter of profit
GSilver reports Q2 operating income of US$9.1M
VANCOUVER, BC / ACCESS Newswire / August 26, 2026 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce financial and production results for the six months ended June 30, 2026. The Company's condensed consolidated interim financial statements for the second quarter of 2026 and the Management's Discussion and Analysis ("MD&A") thereon can be viewed under the Company's profile at www.sedarplus.ca. All dollar amounts are in US dollars (US$) and prepared in accordance with IFRS Accounting Standards (IFRS) as issued by the International Accounting Standards Board. Production results are from the Company's wholly owned Bolanitos Mine ("Bolanitos"), El Cubo Mines Complex ("El Cubo"), San Ignacio Mine ("San Ignacio") and Valenciana Mines Complex ("VMC"), located in Guanajuato, Mexico, and the Topia Mine ("Topia") located in Durango, Mexico.
Selected Q2 2026 Highlights
Revenue of $42.5M was consistent with the previous quarter, where revenue totalled $43.0M. Over 95% of revenue in Q2 was derived from the sale of precious metals.
Net income remained positive in Q2 at $557,000; and $6.3M for the first half of 2026. This was the Company's second consecutive quarter of net positive income.
Silver production of 347,481 ounces represents a 2% increase over the previous quarter. 57% of revenue for Q2 was generated from silver sales. Gold production of 3,653 ounces was down 15% from the previous quarter. The gold-rich Bolanitos Mine remains in the process of ramp-up and full integration.
The Company's debt was substantially reduced in Q2; a total of 3,029 ounces of gold were paid down on the Company's gold loan with Ocean Partners UK Ltd; this accelerated repayment eliminated all future monthly payments at a significant discount to the current gold price. The Company now has only one final payment due in April 2028. Using the Q2 closing gold price of $4,026, the accelerated repayment paid to Ocean Partners in Q2 was valued at $12.1M, while the final outstanding payment due in April 2028 was valued at $9.5M.
Positive mine operating income for the quarter; the Company earned $9.1M in Q2 and $23.4M from operations for the first half of the year. Adjusted EBITDA* was also positive for the quarter at $5.8M and $20.6M for H1 2026.
300 ounces of gold sales per month were hedged at the fixed price of $5220/ounce; this hedge began at the beginning of the quarter and will run until December 2026. This hedge represents approximately 25% of current gold production.
20,000 ounces of silver sales per month were sold forward at the fixed price of $84.50/ounce; this hedge began in February and will run until September 2026.
An additional 20,000 ounces of silver sales per month were hedged using a collar with a minimum price of $80/ounce and maximum price of $93 per ounce; this hedge began in April and will run until December 2026. Combined, these hedges represent approximately 34% of current silver production.
Cash, cash equivalents, and short-term investments totaled $19.9M at the end of the quarter.
James Anderson, CEO & Chairman, said, "Operating costs at Bolanitos remained elevated during the quarter primarily due to an inherited lack of development at the mine; this issue is fully understood, and the Company has been making significant investments into development. As of August 15, Bolanitos operations had completed approximately 2,500 metres of crucial capital development this year; although not yet fully demonstrative in the Q2 daily mining rate, we are confident that production at Bolanitos will improve in subsequent quarters as the number of targeted available mining faces is achieved prior to year-end. Similarly, we are taking a new exploration-focused approach at Valenciana where we will embark on a drilling program designed to build out an extensive mineral resource across the entire aggregated property that now includes mineralized material from our newly acquired Cebada concessions to the north."
Production for the quarter totaled 347,481 ounces of silver, 3,653 ounces of gold, 727,370 pounds of lead and 956,217 pounds of zinc. All base metal production for Guanajuato Silver occurs at the Topia Mine.
Exploration and Development Update
In 2026, the Company committed to substantial investments in exploration, development and infrastructure. The capital expenditure budget for 2026 is the largest in the Company's corporate history, with the goal of achieving exploration and development levels that will generate consistently higher tonnage throughput, increased precious metals production and lower unit costs. These high capital expenditures in Q2 influenced all-in sustaining costs (AISC). This is expected to continue in Q3 and Q4 as the Company maintains a long-term strategy for future growth and enhanced sustainability.
During the quarter, the Company took significant strides to increase its drilling activities; this was made possible by the arrival of three new company-owned diamond drill rigs; two of which have been positioned at Bolanitos and the other at San Ignacio. An additional company-owned drill is expected to be delivered to Topia in Q3 2026. A total of 10,018 metres were drilled in Q2 2026; this work comprised 8,210 metres of infill drilling and 1,790 metres of exploration drilling. A total of 87 drill holes were completed across the entire asset portfolio; this included 77 infill holes and 10 exploration holes. Of note, the Company drilled 20 holes totalling 3,499 metres at Cubo; this represents a 423% increase over Q2 2025.
Underground development over the quarter was also notable across all the Company's core assets. During Q2, 2026, the Company expanded capital development activities with the goal of increasing daily mining rates by expanding the number of available mining areas. A total of 3,192 metres were developed across the entire asset portfolio in Q2, 2026. Again, the most notable increase was seen at Cubo, where the Company completed 508 metres of underground development; this represents a 429% increase over Q2 2025 and, in fact, is higher than all of the development work completed in 2025.
*EBITDA is a non-IFRS financial measure with no standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. For further information and detailed reconciliations of non-IFRS financial measures to the most directly comparable IFRS measures see "Non-IFRS Financial Measures". Silver equivalents ("AgEq") in this news release are calculated using 61.61:1 (Ag/Au), 0.01:1 (Ag/Pb) and 0.02:1 (Ag/Zn) ratio for Q2 2026; a 57.81:1 (Ag/Au), 0.01:1 (Ag/Pb) and 0.02:1 (Ag/Zn) ratios for Q1 2026; a 97.44:1 (Ag/Au), 0.03:1 (Ag/Pb) and 0.04:1 (Ag/Zn) ratio for Q2 2025 respectively.
Q2 2026 OPERATING AND FINANCIAL HIGHLIGHTS
The following tables summarize the Company's consolidated operating and financial results for the three months ended June 30, 2026, as compared to the three months ended March 31, 2026. All amounts are expressed in thousands of United States ("US") dollars except per share amounts, realized prices, tonnes and ounces or unless otherwise stated.
See Reconciliation of Earnings before interest, taxes, depreciation, and amortization in the "Non-IFRS Financial Measures" section of this news release.
See reconciliation of Adjusted EBITDA in the "Non-IFRS Financial Measures" section of this news release.
Cash cost per silver equivalent ounce includes mining, processing, and direct overhead. See Reconciliation to IFRS in the "Non-IFRS Financial Measures" section of this news release.
AISC per AgEq oz includes mining, processing, direct overhead, corporate general and administration expenses, on-site exploration, reclamation, and sustaining capital. See Reconciliation to IFRS in the "Non-IFRS Financial Measures" section of this news release.
Mine operating cash flow before taxes, Cash cost per silver equivalent, AISC per AgEq ounce, EBITDA, Adjusted EBITDA and Working capital are non-IFRS financial measures with no standardized meaning under IFRS, and therefore they may not be comparable to similar measures presented by other issuers. For further information and detailed reconciliations of non-IFRS financial measures to the most directly comparable IFRS measures in the "Non-IFRS Financial Measures" section of this news release.
Based on provisional sales before final price adjustments, before payable metal deductions, treatment, and refining charges.
Mine operating cash flow before taxes is calculated by adding back depreciation, depletion, and inventory write-downs to mine operating loss. See Reconciliation to IFRS in the "Non-IFRS Financial Measures" section of this news release.
The table below presents a summary of the Company's consolidated cash flow for the three-month and the six-month periods ended June 30, 2026, and 2025.
NON-IFRS FINANCIAL MEASURES
The Company has disclosed certain non-IFRS financial measures and ratios in this MD&A, as discussed below. These non-IFRS financial measures and non-IFRS ratios are widely reported in the mining industry as benchmarks for performance and are used by Management to monitor and evaluate the Company's operating performance and ability to generate cash. The Company believes that, in addition to financial measures and ratios prepared in accordance with IFRS, certain investors use these non-IFRS financial measures and ratios to evaluate the Company's performance. However, the measures do not have a standardized meaning under IFRS and may not be comparable to similar financial measures disclosed by other companies. Accordingly, non-IFRS financial measures and non-IFRS ratios should not be considered in isolation or as a substitute for measures and ratios of the Company's performance prepared in accordance with IFRS.
Non-IFRS financial measures are defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure ("NI 52-112") as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ratio, fraction, percentage or similar representation.
A non-IFRS ratio is defined by NI 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage, or similar representation, (b) has a non-IFRS financial measure as one or more of its components, and (c) is not disclosed in the financial statements.
WORKING CAPITAL
Working capital is a non-IFRS measure that is a common measure of liquidity but does not have any standardized meaning. The most directly comparable measure prepared in accordance with IFRS is current assets net of current liabilities. Working capital is calculated by deducting current liabilities from current assets. Working capital should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. The measure is intended to assist readers in evaluating the Company's liquidity.
MINE OPERATING CASH FLOW BEFORE TAXES
Mine operating cash flow before taxes is a non-IFRS measure that does not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Mine operating cash flow is calculated as revenue minus production costs, transportation and selling costs and inventory changes. Mine operating cash flow is used by management to assess the performance of the mine operations, excluding corporate and exploration activities, and is provided to investors as a measure of the Company's operating performance.
EBITDA
EBITDA is a non-IFRS financial measure, which excludes the following from net earnings:
Income tax expense;
Finance costs;
Amortization and depletion.
Adjusted EBITDA excludes the following additional items from EBITDA:
Share based compensation;
Impairments (reversals);
Loss (gain) on derivative;
Unrealized foreign exchange (gain) loss relating to ARO
Significant other finance items.
Adjusted EBITDA per share is calculated by dividing Adjusted EBITDA by the basic weighted average number of shares outstanding for the period.
Management believes EBITDA is a valuable indicator of the Company's ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations, and fund capital expenditures. Management uses EBITDA for this purpose. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or "EBITDA multiple" based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a Company. Management believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results because it is consistent with the indicators management uses internally to measure the Company's performance and is an indicator of the performance of the Company's mining operations.
EBITDA is intended to provide additional information to investors and analysts. It does not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of operating performance prepared in accordance with IFRS. EBITDA excludes the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances and therefore is not necessarily indicative of operating profit or cash flow from operations as determined by IFRS. Other companies may calculate EBITDA and Adjusted EBITDA differently.
Cash Cost per AgEq Ounce, All-In Sustaining Cost per AgEq Ounce and Production Cost per Tonne
Cash costs per silver equivalent oz and production costs per tonne are measures developed by precious metals companies in an effort to provide a comparable standard; however, there can be no assurance that the Company's reporting of these non-IFRS measures and ratios are similar to those reported by other mining companies. Cash costs per silver equivalent ounce and total production cost per tonne are non-IFRS performance measures used by the Company to manage and evaluate operating performance at its operating mining unit, in conjunction with the related IFRS amounts. They are widely reported in the silver mining industry as a benchmark for performance, but do not have a standardized meaning and are disclosed in addition to IFRS measures. Production costs include mining, milling, and direct overhead at the operation sites. Cash costs include all direct costs plus royalties. Total production costs include all cash costs plus amortization and depletion, changes in amortization and depletion in finished goods inventory and site share-based compensation. Cash costs per silver equivalent ounce is calculated by dividing cash costs and total production costs by the payable silver ounces produced. Production costs per tonne are calculated by dividing production costs by the number of processed tonnes. The following tables provide a detailed reconciliation of these measures to the Company's direct production costs, as reported in its consolidated financial statements.
AISC is a non-IFRS performance measure and was calculated based on guidance provided by the World Gold Council ("WGC"). WGC is not a regulatory industry organization and does not have the authority to develop accounting standards for disclosure requirements. Other mining companies may calculate AISC differently as a result of differences in underlying accounting principles and policies applied, as well as differences in definitions of sustaining capital expenditures. AISC is a more comprehensive measure than cash cost per ounce and is useful for investors and management to assess the Company's operating performance by providing greater visibility, comparability and representation of the total costs associated with producing silver from its current operations, in conjunction with related IFRS amounts. AISC helps investors to assess costs against peers in the industry and help management assess the performance of its mine.
AISC includes total production costs (IFRS measure) incurred at the Company's mining operation, which forms the basis of the Company's total cash costs. Additionally, the Company includes sustaining capital expenditures, corporate general and administrative expense, operating lease payments and reclamation cost accretion. The Company believes this measure represents the total sustainable costs of producing silver and gold concentrate from current operations and provides additional information of the Company's operational performance and ability to generate cash flows. As the measure seeks to reflect the full cost of silver and gold concentrate production from current operations, new project capital is not included. Certain other cash and non-cash expenditures, including share-based payments, tax payments, dividends and financing costs are also not included.
The following tables provide detailed reconciliations of these measures to cost of sales, as reported in notes to the Company's consolidated financial statements.
Silver equivalents are calculated using 61.61:1 (Ag/Au), 0.01:1 (Ag/Pb) and 0.02:1 (Ag/Zn) ratio for Q2 2026; a 97.44:1 (Ag/Au), 0.03:1 (Ag/Pb) and 0.04:1 (Ag/Zn) ratio for Q2 2025 respectively.
Cash cost per silver equivalent ounce includes mining, processing, and direct overhead.
AISC per oz includes mining, processing, direct overhead, corporate general and administration expenses, on-site exploration, reclamation, and sustaining capital.
Production costs include mining, milling, and direct overhead at the operation sites.
Consolidated amount for the three months ended June 30, 2026, excludes $5 in relation to silver bullion transportation and selling cost from cost of sales (June 30, 2025 - $8).
VMC Update
In February of this year, the Company announced a new Mineral Resource Estimate for the Valenciana Mines Complex (See GSilver news release dated February 5, 2026). The new Mineral Resource at VMC expanded both the inferred mineral resource and the indicated mineral resource. Most notably, the inferred mineral resource increased by 630% relative to the previous historical Mineral Resource Estimate to 20.3 million silver-equivalent ("AgEq") ounces (oz), (2.27 million tonnes (Mt) @ 142.2 g/t silver (Ag) and 1.55 g/t gold (Au), containing 10.4 million ounces (Moz) Ag and 113 thousand ounces (Koz) Au). The current indicated resource at VMC is 3.8 million AgEq ounces (410 kt grading 147g/t Ag and 1.61g/t Au for 288.8 g/t AgEq). All AgEq calculations for the VMC Mineral Resource used a silver to gold ratio of 88:1. Despite having an updated resource at VMC, the mineable zones of mineralization are currently spread out across a large distance within the mining complex; thereby, complicating development activities and leading to inefficient capital deployment. The Company has made the decision to pause extraction activities at VMC in order to focus on these goals:
Expand and increase the confidence of resources across the 4.2km strike length at VMC.
Develop a life-of-mine plan that efficiently sequences mining activities in order to seek the highest IRR and lowest AISC.
Identify new vein structures and extend known mineralization in order to allow extraction activities to resume at a production scale that is both substantial, consistent, and of higher economic value.
Begin incorporating known mineralized areas from the newly acquired Cebada mining concession to the north into the mining plan. Cebada is contiguous with VMC and represents the northern extension of the vein system.
Build up an inventory of robust mining areas across the entire 4.2km strike length at VMC.
By shifting focus from mining to exploration at VMC, the Company is afforded the opportunity to transfer personnel and mining equipment to higher margin areas at Cubo, San Ignacio, and Bolanitos. The Company expects to see higher rates of production, on a cumulative basis, by redeploying these mining teams and equipment elsewhere.
The drilling campaign at VMC for 2026 has already yielded very good results that could generate new near-term mining blocks, particularly in the Pozos and Cata areas. Guanajuato Silver expects to recommence full scale production from VMC once the Company has established a high-margin life-of-mine plan that properly sequences the development and extraction of this historic mining asset.
The 4.2km strike length at VMC consists of seven mining areas, all of which have rich mining histories dating back over several hundreds of years. The seven mining areas at VMC in order from north to south are Guanajuatito, Valenciana, Maravillas, Cata, Los Pozos, Rayas and Promontorio.
At Valenciana, recent drilling targeted the Veta Madre hanging wall; results indicate that mineralization is not just restricted to the hanging wall contact but also extends into the surrounding breccia; this presents an opportunity to define new mining blocks. Of note, UGVA26-001 intersected mineralization grading 849 g/t AgEq (4.0g/t gold and 557g/t silver) across a true width of 3.81 metres, and UGVA26-004 intersected a true width of 1.43 metres grading 573 g/t AgEq (1.3g/t gold and 478 g/t silver).
At Cata, drilling also returned positive values in the hanging wall of the Veta Madre vein. UGCA26-004 intersected 154 g/t AgEq over a notable true width of 2.52 metres (0.33g/t gold and 130g/t silver), and UGCA26-006 returned 627g/t AgEq (2.13g/t gold and 472g/t silver) over true width of 1.34 metres.
At the Pozos mining area, UGPZ26-003 showed the greatest potential to confirm a new mining block; the rig was positioned at the hanging wall of the Veta Madre and targeted a block of potential mineralization associated with historical workings. Several high-grade intercepts were obtained within the Veta Madre breccia zone (see full assay results below). Drilling at Pozos also tested the Santa Margarita vein with four holes that targeted the entire breccia system comprising both the Veta Madre vein and the Santa Margarita vein. Notably, UGSM26-001 returned 856g/t AgEq (4.60g/t gold and 520g/t silver) over a true width of 0.92 metres.
Table 1- Selected 2026 VMC Drill Results (all AgEq results used a silver to gold ratio of 72.96:1)
For additional information on VMC please refer to the technical report dated effective December 27, 2025 and entitled "NI 43-101 Technical Report on the Valenciana Mines Complex Guanajuato, Mexico" which is filed on SEDAR+ at www.sedarplus.ca.
About Guanajuato Silver
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, the Bolanitos Mine, and the San Ignacio mine; all four mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With five operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
Qualified Person
William Gehlen, a Director of Guanajuato Silver, is a Certified Professional Geologist with the American Institute of Professional Geologists (No. 10626), and a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Mr. Gehlen has reviewed and verified technical data disclosed in this news release and detected no significant QA/QC issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein. The verification of data underlying the disclosed information includes reviewing production reports from each of the Company's mining operations.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding Guanajuato Silver Company Ltd., please contact:
JJ Jennex, Corporate Affairs Director, T: 604 723 1433
E: jjj@GSilver.com
GSilver.com
Guanajuato Silver Bullion Store
Please visit our Bullion Store, where Guanajuato Silver coins and bars can be purchased.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to statements regarding GSilver's growth; that GSilver is an outlier within the mining industry; that the Company is a leading producer of silver and gold within the state of Guanajuato; the integration of Bolanitos into the Company's production portfolio and expected production growth; expectations for repayment of outstanding debt; planned development and exploration programs, including drilling at Valenciana; the addition of mineral resources; future plans for VMC; estimates of capital expenditures and their expected results; and GSilver's status as one of the fastest growing silver mining companies in Mexico.
Such forward-looking statements and information reflect management's current beliefs and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our estimates of the potential quantity, grade and metal content of the mineralized material at El Cubo, Bolanitos, VMC and San Ignacio, the geotechnical and metallurgical characteristics of such material conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; prices for silver, gold and other metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects and to satisfy current liabilities and obligations including debt repayments; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or achievements of GSilver to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, high inflation and interest rates, tariffs, geopolitical conflicts including wars, actual results of exploration, development and production activities, actual grades and recoveries of silver, gold and other metals from the Company's existing mines including El Cubo, Bolanitos, San Ignacio, VMC and Topia, availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to continue to increase production, tonnage milled and recoveries rates, improve grades and reduce costs at El Cubo, Bolanitos, San Ignacio, VMC or Topia to process mineralized materials to produce silver, gold and other concentrates in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineralized material from El Cubo, Bolanitos, San Ignacio, VMC and Topia is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral resources and mineralized material that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company's projected grades of gold and silver at El Cubo, Bolanitos, VMC and San Ignacio and the anticipated level of production therefrom will be realized. In addition, there are no assurances that the Company will meet its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives as planned. There is also uncertainty about impact of any future global pandemic, ongoing global conflicts, elevated inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at including the Company's most recently filed annual information form. These forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
SOURCE: Guanajuato Silver Company Ltd.
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