Santacruz Reports Temporary Suspension of Veta Grande Mill Operations
TSX.V: SCZ November 17, 2017
FSE: 1SZ
Santacruz Reports Temporary Suspension of Veta Grande Mill Operations
November 17, 2017
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that
on November 3 , 2017 , the Mexican Environment al Protection Agency (“PROFEPA”) requested that the
Company’s Mexican operating subsidiary, Impulsora Minera Santacruz, S.A. de C.V. , hold the Veta Grande
Mine Environmental License directly in its name and not under the terms of the agreement with Minera
Contracuña I, S.A. de C.V. (see press release dated No vember 2, 2015) . In connection with this matter
PROFEPA issued a notice temporarily suspending operation of the Veta Gran de mill until ap propriate
documentation was filed with regulatory bodies. On November 8, 2017 the Company submitted all appropriate
documents to PROFEPA and the Secretariat of Environment and Natural Resources (“SEMARNAT”) . The
documentation has been confirmed by those agencies as being in order and as such the Company expects
the imminent resumption of operations at the Veta Grande mi ll. During the suspension of mill operations the
Company continued mining operations thereby building a substantial stockpile of mineralized material while at
the same time major mill maintenance activities were completed.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two producing silver projects (Rosario Project, including
the Rosario Mine, Cinco Estrellas Property and Membrillo Prospect, and the right to operate the Veta Grande
Project and milling facility); an d two exploration properties, the Minillas Property and Zacatecas properties.
Santacruz is managed by a technical team of professionals with proven track records in developing, operating
and discovering silver mines in Mexico with a corporate objective to become a mid-tier silver producer.
‘signed’
Arturo Préstamo Elizondo,
President, Chief Executive Officer and Director
For further information please contact:
Santacruz Silver Mining Ltd.
Email: [email protected]
Telephone: (604) 569-1609
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this rel ease.
Forward looking information
Certain statements contained in this news release constitute "forward -looking information" as such term is
used in applicable Canadian securities laws. Forward -looking information is based on plans, expectations and
estimates of management at the date the information is provided and is subject to certain factors and
assumptions. In making the forward -looking statements included in this news release, the Company has
applied several material assumptions, that the Company's financial condition and development plans do not
change as a result of unforeseen events, that third party mineralized material to be milled by the Company will
have properties consistent with management's expectations, that the Company will receive all re quired
regulatory approvals, and that future metal prices and the demand and market outlook for metals will remain
stable or improve. Forward -looking information is subject to a variety of risks and uncertainties and other
factors that could cause plans, estimates and actual results to vary materially from those projected in such
forward-looking information. Factors that could cause the forward -looking information in this news release to
change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove
not to be valid or reliable, which could result in lower revenue, higher cost, or lower production levels; delays
and/or cessation in planned work; changes in the Company's financial condition and development plans;
delays in regulatory approval; risks associated with the interpretation of data (including in respect of the third
party mineralized material) regarding the geology, grade and continuity of mineral deposits; the possibility that
results will not be consistent with the Company's expectations, as well as the other risks and uncertainties
applicable to mineral exploration and development activities and to the Company as set forth in the Company's
continuous disclosure filings filed under the Company's p rofile at www.sedar.com. There can be no assurance
that any forward -looking information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, the reader should not place any undue
reliance on forward -looking information or statements. The Company undertakes no obligation to update
forward-looking information or statements, other than as required by applicable law.
Rosario Project
The decisions to commence production at the Rosario Mine , Cinco Estrellas Property and Membrillo Prospect
were not based on a feasibility study of mineral reserves demonstrating economic and technical viability, but
rather on a more preliminary estimate of inferred mineral resources. Accordingly, there is increased
uncertainty and economic and technical risks of failure associated with this production decision. Production
and economic variables may vary considerably, due to the absence of a complete and deta iled site analysis
according to and in accordance with NI 43-101.
Veta Grande Project
The decision to commence production at Veta Grande Project was not based on a feasibility study on mineral
reserves demonstrating economic and technical viability. Acco rdingly, there is increased uncertainty and
economic and technical risks of failure associated with this production decision. Production and economic
variables may vary considerably due to the absence of a complete and detailed site analysis according to and
in accordance with NI 43-101.