TSXV: GSVR
OTCQX: GSVRF 
Horcon Project
| Historical Inferred Resource EI Horcon Project1 | |||||||||
| Vein | Tonnes |
Ag (g/t) |
Ag (oz) |
Au (g/t) |
Au (oz) |
Pb (%) |
Zn (%) |
AgEq (g/t) |
AgEq (oz) |
| Diamantillo | 109,649 | 89 | 313,468 | 3.04 | 10,705 | 3.11 | 4.62 | 398 | 1,403,358 |
| Diamantillo HW | 4,781 | 54 | 8,269 | 4.59 | 706 | 2.65 | 0.47 | 459 | 70,518 |
| Natividad | 6,038 | 136 | 26,347 | 3.03 | 587 | 1.74 | 0.13 | 403 | 78,139 |
| San Guillermo | 41,672 | 37 | 50,011 | 4.44 | 5,943 | 1.75 | 2.53 | 404 | 540,899 |
| Total Inferred | 162,140 | 76 | 398,094 | 3.44 | 17,942 | 2.69 | 3.79 | 401 | 2,092,913 |
1. See NI43-101 Technical Report on the Guanajuato Mine Complex Claims and Mineral Resource Estimations for the Guanajuato Mine, San Ignacio Mine and El Horcon and Santa Rosa Projects dated February 20, 2017 with an effective date of August 31, 2016; prepared for Great Panther Silver Limited by Robert Brown, P. Eng. Qualified Person & VP Exploration.
Notes:
1. US$110/tonne NSR Cut-off
2. Silver equivalent was calculated using a 70.6 to 1 ratio of silver to gold value.
3. Rock Density for all veins for Diamantillo is 2.77t/m³, San Guillermo 2.78t/m³, Diamantillo HW is 2.62t/m³, Natividad 2.57t/m³.
4. Totals may not agree due to rounding.
5. Grades in metric units
6. Contained silver and gold in troy ounces
7. Minimum true width 1.5m
8. Metal Prices $18.00USD/oz silver, and $1,300USD/oz gold, and $0.80USD/lb lead.
9. Ag eq (g/t) and AgEq (oz) use only Au, Ag, and Pb values.
The El Horcon mineral resource estimate is a historical estimate and the reader is cautioned not to treat them, or any part of them, as a current resource. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. The mineral resource is taken from a Great Panther technical report dated February 20, 2017. However, based on the assumptions, parameters and methods in the prior technical report, as well as literature and data review the Company considers such estimate to be relevant and reliable and provides an indication of the extent of mineralization identified by previous operators at the El Horcon Mine. To verify the historical mineral resource estimate as a current mineral resource, a qualified person would need to complete database validation, undertake a full review of estimation parameters and procedures, and complete an updated mineral resource estimate and a NI 43-101 technical report incorporating additional production, drilling, sampling and resaying of core completed at El Horcon since February 2017.
Notes:
1. US$110/tonne NSR Cut-off
2. Silver equivalent was calculated using a 70.6 to 1 ratio of silver to gold value.
3. Rock Density for all veins for Diamantillo is 2.77t/m³, San Guillermo 2.78t/m³, Diamantillo HW is 2.62t/m³, Natividad 2.57t/m³.
4. Totals may not agree due to rounding.
5. Grades in metric units
6. Contained silver and gold in troy ounces
7. Minimum true width 1.5m
8. Metal Prices $18.00USD/oz silver, and $1,300USD/oz gold, and $0.80USD/lb lead.
9. Ag eq (g/t) and AgEq (oz) use only Au, Ag, and Pb values.
The El Horcon mineral resource estimate is a historical estimate and the reader is cautioned not to treat them, or any part of them, as a current resource. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. The mineral resource is taken from a Great Panther technical report dated February 20, 2017. However, based on the assumptions, parameters and methods in the prior technical report, as well as literature and data review the Company considers such estimate to be relevant and reliable and provides an indication of the extent of mineralization identified by previous operators at the El Horcon Mine. To verify the historical mineral resource estimate as a current mineral resource, a qualified person would need to complete database validation, undertake a full review of estimation parameters and procedures, and complete an updated mineral resource estimate and a NI 43-101 technical report incorporating additional production, drilling, sampling and resaying of core completed at El Horcon since February 2017.
