Santacruz Silver Advances Soracaya Project Toward ProducAon with Preliminary Mine Plan and PermiDng
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News Release
October 7th, 2025
Santacruz Silver Advances Soracaya Project Toward ProducAon with Preliminary Mine
Plan and PermiDng
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (OTCQX:SCZMF) (FSE:1SZ) ("Santacruz" or the
"Company”) is pleased to announce the ini:a:on of development ac:vi:es and the pursuit of full produc:on
permi=ng at its wholly-owned Soracaya Project (“Soracaya” or the “Project”), located in the Potosí Department,
Bolivia. These ac:vi:es mark a key step toward advancing the Project to a produc:on decision.
Arturo Préstamo, Execu:ve Chairman and CEO of Santacruz, commented: “With the preliminary mine plan in place
and the permi=ng process underway, Soracaya is emerging as a cornerstone growth project for Santacruz in
Bolivia. Its high-grade resource, strategic loca:on, and synergies with exis:ng opera:ons give us confidence in its
ability to deliver long-term value for shareholders and stakeholders alike.”
Mr . Préstamo con:nued: “By advancing the Project and preparing for future construc:on, we are laying the
founda:on to add another producing mine to our porVolio while we keep a disciplined approach to cost control
and opera:ons improvements. Our work at Soracaya represents a clear commitment to Santacruz’s long-term
growth and expansion in Bolivia.”
Soracaya is a high-grade, silver-rich project, featuring mineraliza:on along reac:vated faults with replacement
and brecciated sulphides, geological characteris:cs typical of some of the world’s most produc:ve silver
deposits. Since 1999, more than 29.6 km of drilling across 90+ holes has provided extensive geological data,
suppor:ng robust resource modeling and preliminary mine planning.
With this resources base in place, Santacruz is now focused on comple:ng permi=ng and advancing Soracaya
toward full construc:on, an important step in the Company’s strategy to grow its Bolivian produc:on base.
Details regarding the full construc:on decision will be shared at a later stage.
Base-Case T otal Mineral Resources at 10.0% ZnEq Cut-off
Tonne s ZnEq Zn Pb Cu Ag NSR
% g/t $248.82 4,137,000 31.62 1.23 7.23 0.09 259.76
Notes:
1) The current Resource Es:mate was prepared by Garth Kirkham, P .Geo., of Kirkham Geosystems Ltd.
2) All mineral resources have been es:mated in accordance with Canadian Ins:tute of Mining and Metallurgy and Petroleum (“CIM”) defini:ons, as required
under Na:onal Instrument 43-101 (“NI 43-101”).
3) The Mineral Resource Es:mate was prepared using a 10% zinc equivalent cut-off grade. Cut-off grades were derived from $3.65/lb. copper, $21.00/oz
silver, $1.15/lb. zinc and $1.00/lb. lead. This cut-off grade was based on current smelter agreements and total OPEX costs of $156.00/t based on 2023 actual
costs derived from the Porco mine data, with process recoveries of 70.0% for copper, 80.0% for zinc, 70.0% for lead, and 85% for silver . All prices are stated
in $USD.
4) An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral
Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgrad ed to Indicated Mineral Resources with con:nued
explora:on.
5) Mineral resources are not mineral reserves un:l they have demonstrated economic viability. Mineral resource es:mates do not account for a resource’s
mineability, selec:vity, mining loss, or dilu:on. All figures are rounded to reflect the rela:ve accuracy of the es:mate and therefore numbers may not appear
to add precisely.
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Analyst Coverage
Santacruz has engaged Atrium Research Corpora:on (“Atrium”), a leading company sponsored research firm.
Atrium will publish various research reports on the Company based on publicly available informa:on, industry
data, and discussions with management. Atrium will also host recorded interviews with the Company’s
management team to present the investment case in an interview format. In exchange for its research services,
Atrium will receive cash compensa:on in the amount of C$3,500 per month for the services listed above. The
services will be provided for twenty-four months beginning on December 1st, 2025.
Atrium and the Company are arm's-length par:es, and neither Atrium nor its insiders hold any shares or op:ons
to purchase shares in the issued and outstanding capital of the Company.
Qualified Person
Garth Kirkham, P. G e o ., an independent consultant to the Company, is a qualified person under NI 43-101 and has
approved the scien:fic and technical informa:on contained within this news release.
About Santacruz Silver Mining Ltd.
Santacruz Silver is engaged in the opera:on, acquisi:on, explora:on, and development of mineral proper:es across
La:n America. In Bolivia, the Company operates the Bolivar, Porco, and Caballo Blanco mining complexes, with Caballo
Blanco comprising the Tres Amigos and Colquechaquita mines. The Reserva mine, whose produc:on is provided to the
San Lucas ore sourcing and trading business, is also located in Bolivia. Addi:onally, the Company oversees the Soracaya
explora:on project. In Mexico, Santacruz operates the Zimapán mine.
‘signed’
Arturo Préstamo Elizondo,
Execu:ve Chairman and CEO
For further informa:on please contact:
Arturo Préstamo
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver .com
Telephone: +52 81 83 785707
Andrés Bedregal
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver .com
Telephone: +591 22444849
Neither the TSX Venture Exchange nor its Regula7on Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking InformaAon
This news release includes certain statements and informa7on that may cons7tute forward-looking informa7on within
the meaning of applicable Canadian securi7es laws. Forward-looking statements relate to future events or future
performance and reflect the expecta7ons or beliefs of the management of the Company regarding future events.
Generally, forward-looking statements and informa7on can be iden7fied by the use of forward-looking terminology such
as “intends” , “expects” or “an7cipates” , or varia7ons of such words and phrases or statements that certain ac7ons,
events or results “may” , “could” , “should” , “would” or will “poten7ally” or “likely” occur. This informa7on and these
statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this
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news release and include without limita7on, statements about the Company’s Soracaya Project, including the ini7a7on
of development ac7vi7es and the pursuit of full produc7on permiRng.
These forward-looking statements involve numerous risks and uncertain7es and actual results might differ materially
from results suggested in any forward-looking statements. These risks and uncertain7es include, among other things,
risks related to changes in general economic, business and poli7cal condi7ons, including changes in the financial
markets, changes in applicable laws, and compliance with extensive government regula7on, as well as those risk factors
discussed or referred to in the Company’s disclosure documents filed with the securi7es regulatory authori7es in certain
provinces of Canada and available at www.sedarplus.ca.
There can be no assurance that any forward-looking informa7on will prove to be accurate, as actual results and future
events could differ materially from those an7cipated in such statements. Accordingly, the reader should not place any
undue reliance on forward-looking informa7on or statements. The Company undertakes no obliga7on to update
forward-looking informa7on or statements, other than as required by applicable law.