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SCZ.V ·

Santacruz Silver Announces Appointment of Chief Operating Officer

Management Changes

TSX.V: SCZ

FSE: 1SZ

August 16, 2022

SANTACRUZ SILVER ANNOUNCES APPOINTMENT OF CHIEF OPERATING OFFICER

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

pleased to annou nce the appointment of Mr. Wayne Corso to the role of Chief Operating Officer .

Mr. Corso holds a B.Sc., Mining Engineering, from the Colorado School of Mines at Golden

Colorado, has over 35 years of experience in the industry and will be responsible for ov erseeing all

operational functions of the Company’s mines and exploration projects. The current portfoli o

includes operations and projects in Mexico and Bolivia.

Prior to joining Santacruz, Mr. Corso managed various technical teams for JDS Energy and Mining

Inc. to evaluate, optimize and develop mineral resource projects. He has strong technical,

operational and management skills , with the ability to lead in technical and operational

environments. Mr. Corso has also participated in the evaluation, development and operation of

various mineral resource properties throughout his career in engineering and management roles

with companies such as BHP Billiton, RMC Pacific, and Homestake Mining Company.

Carlos Silva, Santacruz’s CEO stated, “We are delighted to welcome Wayne to the Santacruz team.

Wayne is well-recognized for his contribution to the mining industry on different projects and brings

extensive expertise as well as a depth of mining experience that will help Santacruz as we pursue

our vision of being a premier senior silver producer.”

Wayne Corso, Santacruz´s COO stated, “I am excited to become part of the talented team that

Santacruz has assembled and look forward to doing my part to generate maximum value from

Santacruz’ considerable resources both mineral and personal.”

Option Grant

The Company further announces that, pursuant to the stock option plan of the Company, it has

granted 1,000,000 stock options (“Options”) to purchase common shares to an officer of the

Company. The Options are exercisable until August 16, 2024 at an exercise price of $0.45 per

Option, vesting 25% immediately and 25% each 6 months thereafter.

About Santacruz Silver Mining Ltd.

The Company is engaged in the operati on, acquisiti on, exploration and de velopment of miner al

properties in Latin America , with a primary focus on silver and z inc, but also including lead and

copper. The Company currently has four producin g projects which include th e Zim apan mine in

Mexico and recently the Caballo Blanco mine, the Bolivar mine ( 45% interest) and Porco mine

(45%). The Company also has a 100% interest in the San Lucas ore sourcing and t rading business.

The Comp any hold s three exploration pro perties in its mineral property por tfolio, being the La

Pechuga Property (Mexico), the Santa Gorgonia Prospect (Mexico) and the Soracaya Prospect

(Bolivia).

‘signed’

Arturo Préstamo Elizondo,

Executive Chairman

For further information please contact:

Mars Investor Relations

Telephone: (778) 999 4653

[email protected]

Arturo Prestamo

Santacruz Silver Mining Ltd.

Email: [email protected]

Telephone: (528) 183 785707

Neither the TSX Venture Exchange no r its Regulation Services Provider (as that term is defined in

the policies of th e TSX Venture Exchange) accepts respons ibility for the adequacy or accuracy of

this release.