Guanajuato appoints Paxton as director; new mineral resource at Valenciana mine complex, Guanajuato, Mexico
Guanajuato Silver Company Ltd. [TSXV: GSVR; OTCQX: GSVRF] has appointed David Paxton to its board of directors, effective immediately. Mr. Paxton brings to Guanajuato Silver the rare combination of extensive underground mine management experience and corporate mine finance expertise. He holds a South African mine managers certificate. From 2008 to 2014, he served as the CEO of Vatukoula Gold Mines PLC, a United Kingdom-listed public gold production company that operated the Vatukoula underground gold mine in Fiji. During his tenure, Mr. Paxton operated as mine manager, directing the daily operations at the mine for over 1,400 staff and contractors. Mr. Paxton has since held leadership roles at notable resource development companies. He is currently the CEO of Kapa Gold, a TSX Venture Exchange-listed exploration company.
James Anderson, chairman and CEO, added: “In step with our growing portfolio of producing silver and gold mines, we are also strengthening our board of directors; with the addition of David Paxton, we are adding both extensive experience in public company corporate governance and invaluable underground mining knowledge. David’s experience at Vatukoula – a narrow-vein, high-grade, precious metals underground mine – will prove invaluable as we move to fully optimize all our Mexican mining projects. His long track record of success and technical excellence bodes well for Guanajuato Silver’s future as we look to further grow our company into a leading mid-tier precious metals producer.”
The company also announces the filing of a NI 43-101 technical report for a new mineral resource estimate for Guanajuato Silver’s 100%-owned Valenciana mine complex located in Guanajuato, Mexico. The report and 2025 MRE were prepared by Apex Geoscience Ltd., with an effective date of December 27, 2025, and supports the disclosure made by the company in its news release dated February 5, 2026, “Guanajuato Silver Sees Significant Growth in Resources at Valenciana.”
The company further announces that under its stock option plan, it has granted stock options to directors, officers, employees and consultants to purchase an aggregate of 11.3 million common shares at an exercise price of 50 cents per share, expiring on March 23, 2031.
Guanajuato Silver also confirms that, during the first quarter of 2026, the company has used its at-the-market equity program to sell 2,409,200 shares at an average price of 83.874 cents for aggregate gross proceeds of $2,057,134. Total commissions paid to the ATM agent during the quarter were $51,428. The company further confirms that it does not intend to sell any further shares pursuant to the ATM during the current quarter.
Guanajuato is a precious metal producer with a portfolio of producing silver and gold mines in central Mexico. The company has a core operational footprint of four operating silver-gold assets in the state of Guanajuato, Mexico. Additionally, the company produces silver, gold, lead and zinc concentrates from the Topia mine in northwestern Durango.