Guanajuato Silver Secures Key Permit for Pinguico Mine Restart

Guanajuato Silver Company Ltd. has obtained an essential General Use Explosives Permit for its Pinguico project in Mexico's Guanajuato district. This approval from the Ministry of Defense allows the company to resume development activities at the Pinguico mine, a satellite of El Cubo Mines Complex. Development work, including drifting along the San Jose vein structure, is anticipated to restart in Q4 2025, targeting the historic underground stockpile.

The company plans to process mineralizations at El Cubo's facility, which may help offset development costs. Past explorations revealed promising high-grade results, encouraging exploration drilling in 2026. Pinguico was a major gold/silver mine in the region during the late 19th and early 20th centuries. The venture continues despite lacking finalized feasibility studies, acknowledging potential risks and uncertainties.