#1A Guanajuato Silver.co New Silver-Gold Producer Guanajuato Silver "gwa-nah-hwah-toh" September 8, 2022 TSX venture EXCHANGE TSX: GSVR OTC Markets: GSVRF#2Why Silver? Every modern electrical device requires silver A Every electrical action in a modern automobile requires silver-coated contacts. 58% 2#3Silver Enables the Pivot to Green Energy As solar parks grow, so too will the demand for silver Photovoltaics currently account for 12% of total silver demand. Source: The Silver Institute 2022 Forecast (2021 photovoltaic global demand = 13%) A 3#4Mexico's Fastest-Growing Silver Company 5 silver mines and growing April 2021 August 2021 October 2021 July 2022 December 2022 2023 PURCHASED EL CUBO MINE RECOMMENCED MINING STARTED SELLING SILVER AND GOLD CONCENTRATE ACQUIRED THREE MINES: VALENCIANA, SAN IGNACIO AND TOPIA A PROJECTED ANNUAL RUN RATE AS OF DECEMBER 2022 3.4 M AgEq PROJECTED ANNUAL RUN RATE AS OF DECEMBER 2023 6M AgEq 4#5Production Ramp-Up On-Track Six-month AgEq production 200000 August production will include tonnage from El Cubo, San Ignacio and Topia. 150000 6-month silver- equivalent production solely from El Cubo. 144,000 121,608 120,559 100,820 100000 85,940 88,533 50000 ??? A O O February March April May June July August 2022 5#6Guanajuato Mexico's premiere mining community ¡Somos Guanajuato! A 6#7Consolidating the Guanajuato Mining Camp 450-year mining history A La Luz Vein Ejido Sangre de Chisto mino Valenciana El Cubilole 父 Bolanitos (Endeavour) San Ignacio Veta Madre Vein El Tevero Ejido Llanos de Santa Ana Arroyo La Ex Hda Sant Teresa de ena lao-Guanajuato Autopista Silao Arco Rancho Poblado La Concepción Concepción Grande Villalpando Vein Cebada (Endeavour) 110 Calera Ejido Santa Ana Guanajuato City Valenciana Mines Complex oyo Dur isión de Quijote 父 Peregri Peregrina (Fresnillo) Cerro de Bolita iversitario Sirena (Fresnillo) Carre te ☑ 2839 m El Cubo Mine Complex Las Torres (Fresnillo) Arroyo Las C Yerbabuena Pinguico Cubo N 0 1 2 4 7 Km#8The El Cubo Production Facility The centrepiece of our Hub & Spoke mining operation 45,000 t/month capacity A Tonnes (t) Ag (g/t) Au (g/t) AgEq (g/t) AgEq (oz) M&I 508,000 194 2.44 389 6.31M Inferred 1.4M 214 2.78 435 20.3M Source: Behre Dolbear & Company (USA Inc.) PEA Jan 29, 2021 8#9El Cubo Mill Clean. Dry. Organized. A Outote 9#10A El Cubo 3-D View of Principle Veins High grade epithermal mineralization from multiple veins VETA VILLALPANDO VETA LA LOCA VETA SAN NICOLAS LEGEND Zona Santa Cecilia 0 Regional Veins Mineralized zones for near-term Exploration focus and production 0.5 1 Κατι New Connector to Santa Cecilia VETA DOLORES VETA SAN ESUBIG Dolores EL CUBO MILL Dolores Sur Zona Villalpando 2175 Stope VETA VILLALPANDO Capulin- Cebolletas 1850 Stope 10#11Valenciana Mines Complex Cata Mill -36,000 tonnes/month capacity Tonnes (t) Ag (g/t) Au (g/t) AgEq (g/t) AgEq (oz) M&I 251,666 Inferred 220,760 250 225 1.76 1.95 400 391 Source: Apex Geoscience Technical Report on the Valenciana Mine Complex, Guanajuato, Mexico April 30, 2022 A 3.2M 2.7M 11#1214 Northwest Valenciana Mines Complex Mineralized Zones - Long Section WEST BLOCK GUANAJUATITO Guanajuatito Resource 2200m Measured: 36,499 1 Indicated: 12,064 1 Inferred: 9,666 1 477,017 Ag eq oz 134,187 Ag eq oz 94,306 Ag eq oz 2000 1800m 1600m Alisos Encarnacion Valenciana Resource Measured: 18,7041 Indicated: 11,5871- Inferred: 186,121 216,637 Ag eq oz 133,995 Ag eq oz 2,444,315 Ag eq oz Drilling Proposed (In-Fill) Underground Workings Proposed (Exploration) [ 2021 2020 (Aug - Dec) 2005 2020 July September 17, 2021 Shaft Underground working Area worked in 20th Century Area worked in Spanish Era Guadalupe El Cristo VALENCIANA NSR (US$) >=$250 $150-$250 $100-$150 2020 GUANAJUATO TOTALS Measured: 286,13913.677,663 Ag eq oz Indicated: 147,81411,851,448 Ag eq oz 460,1741 6,020,031 Ag eq oz Inferred: < $100 JAZZWA in Antoni LIVE SE 1500N Tepeyac Erizos Ever 34 CENTRAL BLOCK CATA Jaravillas Mahe Cata Resource Measured: 27,9971 512,120 Ag eq oz Indicated: 1,307 17,513 Ag eq oz 4.2 km (2.6 miles) 4.2km 1000N CATA (Production Shaft) Processing Plant San Lorenzo NOOS LOS POZOS Los Pozos Resource Measured: 170,726 + 2,058,994 Ag eq oz Indicated: 97,995 11.221,817 Ag eq oz 194,2261 2.573,101 Ag eq oz Inferred: SAN VICINE CA RAYAS Kurtz GENERAL DE RAYAS A EAST BLOCK GREAT PANTHER Southeast PROMONTORIO Promontorio Resource Measured: 16,3721 - 206,485 Ag eq oz Indicated: 20.7071296.162 Ag eq oz Inferred: 56.468 690,898 Ag eq oz 2200m 2000m Petals Great Panther 1800m 1600m Great Panther Santa Margarita Resource Measured: 5,7461- Indicated: 1,844 Inferred: 9,891 85,445 Ag eq oz 25,327 Ag eq oz 168,730 Ag eq oz San Cayetano Resource Measured: 10,0941 120,965 Ag eq oz Indicated: 2,3101 = 22,447 Ag eq oz Inferred: 3,802 48,682 Ag eq oz One football field to scale 1400m 12 200 metres#13San Ignacio High-grade precious metals mine poised for early restart Tonnes (t) Ag (g/t) Au (g/t) AgEq (g/t) AgEq (oz) M&I 267,828 Inferred 445,217 145 178 2.8 2.65 384 404 Source: Apex Geoscience Technical Report on the Valenciana Mine Complex, Guanajuato, Mexico April 30, 2022 A 3.3M 5.7M 13#14Pinguico - Advancing to Restart Supplemental production from above-ground stockpile Inferred Tonnes (t) Ag (g/t) 210,000 79 Source: Behre Dolbear & Company (USA Inc.) PEA Jan 29, 2021 Au (g/t) AgEq (g/t) AgEq (oz) 0.6 127 860,000 A 14#15Five Mines and Three Production Facilities Expanding beyond Guanajuato Arizona New Mexico Texas United States HERMOSILLO O CABO SAN LUCAS O Pacific Ocean TOPIA Mexico VALENCIANA EL CUBO GUANAJUATO (CITY) DURANGO MONTERREYO EL PINGUICO SAN IGNACIO GUANAJUATO (STATE) Gulf of Mexico O MEXICO CITY MANZANILLO O 200 km ACAPULCO O CANCUN O Belize A Guatemala 15#16Topia Mine Silver-rich, high-grade polymetallic mine currently in production 2021 Production: 1.1M AgEq 7500 t/month flotation mill A Tonnes (t) Ag (g/t) Au (g/t) Pb (%) Zn (%) AgEq (oz) M&I Inferred 331,800 274,600 609 1.84 4.4 4.5 11.1M 592 1.44 3.35 3.63 8.2M Source: Apex Geoscience Technical Report on the Topia Property, Durango, Mexico May 6, 2022 16#17Global Resource Mineral Resources Measured & Indicated Tonnes Ag Au Pb/Zn AgEq AgEq (t) (g/t) (g/t) (%) (g/t) (oz) El Cubo 508,000 194 2.44 389 6,310,000 Pinguico (Stockpile) 210,000 79 0.60 127 860,000 Valenciana 251,666 250 1.76 400 3,235,029 San Ignacio 267,828 145 2.80 384 3,302,726 Topia 331,800 609 1.84 4.4/4.5 1,041 11,107,000 TOTAL 24,814,755 Inferred El Cubo 1,400,000 214 2.78 435 20,310,000 Valenciana 220,760 225 1.95 391 2,776,596 San Ignacio 445,217 178 2.65 404 5,781,944 Topia 274,600 592 1.44 3.3/3.6 932 8,221,000 TOTAL 37,089,540 Source: Behre Dolbear & Company (USA Inc.) PEA Jan 29, 2021 Source: Apex Geoscience Technical Report on the Valenciana Mine Complex, Guanajuato, Mexico April 30, 2022 Source: Apex Geoscience Technical Report on the Topia Property, Durango, Mexico May 6, 2022 A 17#18Shares Issued & Outstanding 2-Year Share Performance Common Shares 299 M Financing Warrants 87 M Options Outstanding 19 M Fully Diluted 405 M 8M 6M Current Market Cap C$107 M 4M 2M A GSVR.V Guanajuato Silver Company Ltd. TSXV 8-Sep-2022 10:38 am StockCharts.com Open 0.35 High 0.37 Low 0.35 Last 0.36 Volume 68.7K Chg -0.01 (-2.70%) ▼ 0.75 -GSVR.V (Daily) 0.36 0.70 Volume 68,702 0.85 0.60 0.55 0.50 0.45 0.40 (0.36 Oct Nov Dec 2021 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2022 Feb Mar Apr May Jun Jul Aug Sep El Cubo Mine Acquisition 0.30 0.25 0.20 68702 18#19Current Major Shareholders All numbers approximate Endeavour Silver Corp. Great Panther Mining Ltd. Myrmikan Capital LLC. (Director Daniel Oliver) GSilver Directors & Advisors VBS Exchange Pty Ltd. Endeavour SILVER GREAT PANTHER Guanajuato Silver 9.5% MINING LIMITED 8.8% 7.9% MYRMIKAN CAPITAL LLC 4.3% THE VICTOR SMORGON GROUP 3.5% Eric Sprott 2.3% EMA Garp Fund LP. EMA 2.0% Public Shareholders 61.6% A 19#20Management Team Technical excellence JAMES ANDERSON CHAIRMAN AND CEO Capital Markets Specialist 20+ years of capital market experience as a retail broker investment banker and manager in the Canadian brokerage business. LISA DEA CFO A Chartered Professional Accountant 20+ years experience in the finance, securities and accounting fields. She has been instrumental in helping several companies grow from the development stage to large-scale commercial operations. HERNAN DORADO SMITH COO Mining Engineer 16+ years of underground/open- pit mining experience operating in Canada, Australia, Mexico, Brazil, and Dominican Republic. A 5th- generation mining engineer with in-depth knowledge of the El Pinguico Mine, Hernan is a graduate of Mining Engineering with an Executive MBA from Escuela Europeade Negocios, Salamanca, Spain. RAMON DAVILA PRESIDENT Mining Engineer / M.Sc. Mineral Economics 25+ years of experience in the mining industry in Mexico helping to grow the world's largest silver producers (First Majestic Silver, Pan American Silver, Industrias Peñoles, S.A. de C.V.). Served four years as Minister of Economic Development for the State of Durango. 20#21Board of Directors JAMES ANDERSON CHAIRMAN & CEO 20+ years of capital market experience as a retail broker investment banker and manager in the Canadian brokerage business; instrumental in the financing of several small-cap public companies. DANIEL OLIVER Manages Myrmikan Capital LLC of Connecticut, which actively invests in the precious metals mining sector; noted commentator with articles published in Forbes, The Wall Street Journal, The Washington Times and others; holds a J.D. from Columbia Law School and an MBA from INSEAD. HERNAN DORADO COO Mining Engineer with 15+ years of underground and open pit mining experience. He has in depth knowledge of the El Pingüico mine and vast experience with precious metal projects. Hernan is a graduate of Mining Engineering with an Executive MBA from Escuela Europeade Negocios, Salamanca, Spain RAMÓN DÁVILA PRESIDENT Former COO and Director of First Majestic Silver from 2004-2014; created five new silver mining operations in Mexico and grew production to over 12 million oz of silver equivalent production per year; former Minister of Economic Development for the State of Durango; graduate of the University of Guanajuato in Mining and Metallurgical Engineering and holds a M.Sc. in Mineral Economics from the Colorado School of Mines. RICHARD SILAS VP CORP DEVELOPMENT A 20+ years of experience in corporate governance, regulatory compliance, and the administration of resource companies; his ability to structure and administer companies has been integral to their success. WILLIAM GEHLEN Mr. Gehlen serves as a Director and Manager of Geology for JR Resources Corp. and advises management on technical matters with investments at Dakota Territory Resource Corp.; holds an M.S. (Geology) from the University of Idaho and a B.Sc. (Geology) at the University of Oregon. ADVISORY BOARD STUART "Tookie" ANGUS Business Advisor JOHN BUDRESKI Business Advisor Former Chairman of Nevsun Resources; 30+ years of capital markets experience. Former Vice Chairman of Cormark Securities Inc. and past - President & CEO of Orion Securities Inc. GREG HAWKINS Geological Advisor Global exploration geologist since 1969; holds a BSc in Geology from the University of Alberta and a MSc in Mineral Economics from McGill University. 21#22DISCLAIMER Forward-looking information This document contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the Company's ability to restart mining operations at San Ignacio and VMC, successfully integrate mineralized material mined from San Ignacio and VMC into the Company's current processing operations at El Cubo, and the anticipated increased tonnage, timing and economic advantages associated therewith, the increasing importance of the Santa Cecilia mine area at El Cubo and the anticipated impact on project economics and ability to access new higher-grade stope areas resulting from the linkage by tunnel of such area with the Villalpando mine area, the current and projected mined output from the Company's existing El Cubo and El Pinguico mines and newly acquired San Ignacio, Valenciana and Topia mines, and GSilver's anticipated performance for the balance of 2022, the ability of the Company to increase production, tonnage and silver and gold grades, improve metallurgical recovery rates, increase revenues, and reduce production costs (including AISC) consistent with the Company's expectations and production model, the Company's ability to improve efficiency, output and successfully adopt a hub & spoke mining strategy at the Topia mine as currently planned and the timing thereof, the Company's future development and production activities; estimates of mineral resources and mineralized material at the Company's mining projects and the accessibility, attractiveness, mineral content and metallurgical characteristics thereof; the opportunities for future exploration, development and production at the Company's mines and the proposed exploration, development and production programs therefor and the timing and costs thereof; and the success related to any future exploration, development and/or production programs. 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 mineral resource estimates at El Cubo and El Pinguico and estimates of mineralized material at San Ignacio, VMC and Topia and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock 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; the ability of the Company to successfully integrate production from San Ignacio and VMC into the Company's existing mining and milling operations at El Cubo and the availability of excess processing and tailings capacity at El Cubo to accommodate same; the Company's ability to secure additional sources of mineralized material for processing, 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, rising inflation and interest rates, geopolitical conflicts including wars, actual results of exploration, development and production activities, actual resource grades and recoveries of silver, gold and other metals, 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 recovery rates, improve grades and reduce costs at El Cubo and/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, El Pinguico and its newly acquired San Ignacio, Valenciana and Topia mines 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 production of silver, gold and other metals 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 the continued spread and severity of COVID-19, the ongoing war in Ukraine and rising 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 document are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Company's interim financial statements and accompanying MD&A for the three-month period ended June 30, 2022. 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. 22#23A Contact JJ Jennex Director of Communications (604) 723 1433 Guanajuato @gsilver.com Silver co LTD Suite 578 999 Canada Place, Vancouver, British Columbia, V6C 3E1 TEXCHANGE : GSVR OTC Markets: GSVRF