Santacruz Closes Private Placement

TSX.V: SCZ

FSE: 1SZ

April 9, 2020

Santacruz Closes Private Placement

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that,

further to its news release dated Febr uary 25, 2020, the Company will not be completing any additional

tranches of its previously announced non-brokered private placement.

The Company raised gross proceeds of C$734,150 from the sale of 6,117,917 units (the “Units”) pursuant to

the private placement at price of C$0.12 per Unit. Each Unit consisted of one common share of the Company

and one non-transferable common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to

acquire one common share of the Company at a price of C$0.18 per share until February 25, 2021.

The net proceeds from the private placement will be used for general working capital and corporate purposes,

as applicable.

About Santacruz Silver Mining Ltd.

Santacruz is a Mexican focused silver compa ny with two producing silver projects (Rosario and Veta Grande)

and two exploration properties, the Minillas property and Zacatecas properties. The Company also owns 100%

of Carrizal Mining S.A. de C.V. Carrizal Mining is a private Mexican mining company, which holds a 20%

working interest in the Company’s Veta Grande Project and has the right to operate the Zimapan Mine until

December 31, 2020 under a mining lease agreement.

The Company is managed by a technical team of professionals with proven track r ecords in developing,

operating and discovering silver mines in Mexico. Our corporate objective is to become a mid -tier silver

producer.

‘signed’

Arturo Préstamo Elizondo,

President, Chief Executive Officer and Director

For further information please contact:

Arturo Prestamo

Santacruz Silver Mining Ltd.

Email: [email protected]

Telephone: (604) 569-1609

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term i s defined in the policies

of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.