Guanajuato Silver Finalizes Acquisition of Bolanitos Mine

Guanajuato Silver Company Ltd. has completed the acquisition of the Bolanitos gold-silver mine from Endeavour Silver Corp. This marks the company's fifth operational precious metals mine in Mexico. Adjacent to the San Ignacio mine, Bolanitos boasts a 1,600 tonnes per day flotation plant with considerable expansion potential.

The acquisition was closed for up to USD 50 million, including an upfront payment of USD 40 million and contingent payments of USD 10 million based on production milestones. The integration of Bolanitos is expected to enhance Guanajuato Silver's production capabilities and optimize its processing model.

James Anderson, Chairman & CEO, expressed optimism about Bolanitos' contribution to the company's production portfolio. The deal strengthens Guanajuato Silver's presence in Mexico's mining sector, potentially boosting its growth trajectory and operational efficiency.