08:30 AM EDT, 06/28/2024 (MT Newswires) -- GR Silver Mining ( GRSLF ) on Friday said it will sell its subsidiary Marlin Gold to a privately-held Canadian company.

The transaction, which will close in a month, eliminates most of GR Silver's working capital deficit without diminishing its resource inventory, the company said.

Marlin is a private British Columbia-based company, which counts among its assets, Oro Gold de Mexico. Oro Gold owns nine non-core concessions, including the past producing La Trinidad mine, located adjacent to GR Silver Mining's ( GRSLF ) core Plomosas Project.

The disposition of Marlin and its subsidiaries allows GR Silver Mining ( GRSLF ) to focus on resource growth and the potential development of its core Plomosas Project in Mexico. The company continues to hold several non-core concessions.