Santacruz Silver Announces Planned Resumption of Operations at Zimapan Mine; Completes Organizational Changes
TSX.V: SCZ
FSE: 1SZ
May 13, 2020
Santacruz Silver Announces Planned Resumption of Operations at Zimapan Mine;
Completes Organizational Changes
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that it
has commenced preparations to resume mining and milling operations at the Zimapan Mine located in
Zimapan, Hidalgo State, Mexico on or about May 19, 2020.
Operations at the Zimapan Mine were temporarily halted i n April (see news release dated April 21, 2020) in
response to the global Covid-19 pandemic.
The Mexican government has authorized the resumption of non-essential activities as of May 1 9, 2020 in
municipalities that present low or no known cases o f transmission of the SARS-CoV-2 virus, subject to criteria
defined by the Secretariat of Health. The municipality of Zimapan, Hidalgo State, Mexico is classified as a low
risk municipality. The Company has filed applications with government authorities to obtain permission to
resume mining activities at the Zimapan Mine on or about May 19th.
The Company also announce s that it has appointed Mr. Carlos Silva as its new Chief Executive Officer
replacing Mr. Arturo Prestamo, who has been appointed Executive Chairman.
Mr. Carlos Silva, CEO, commented: "We look forward to bringing the Zimapan Mine back to production in a
safe and orderly manner .” Mr. Silva continued; “We will maintain the strict measures and initiatives that we re
put in place at the beginning of the Covid-19 pandemic in order to protec t the wellbeing of our employees and
communities”.
Mr. Arturo Préstamo , Executive Chairman commented; "With Carlos now as our CEO the Company has
completed the reorganization of our Leadership Team.”
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two producing projects ( Zimapan and Rosario) and two
exploration properties, the Panuco property and Zacatecas properties. The Company also owns 100% of
Carrizal Mining S.A. de C.V. Carrizal Mining is a private Mexica n 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 techni cal team of professionals wi th proven track records in developing,
operating and discovering silver mines in Mexico. Our corporate objective is to become a mid -tier silver
producer.
‘signed’
Arturo Préstamo Elizondo,
Executive Chairman
For further information please contact:
Arturo Prestamo
Santacruz Silver Mining Ltd.
Email: [email protected]
Telephone: (604) 569-1609
Neither the TSX Venture E xchange 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
release.
Forward looking information
Certain statements contained in this news release constitute "forward -looking information" as such term is
used in applicable Canadian securities laws , including statements relating to the planned resumption of
operations at the Zimapan Mine. Forward-looking information is based on plans, expectations and estimates of
management at the date the information is provided and is subject to ce rtain factors and assumptions. In
making the forward -looking statements included in this news release, the Company has applied several
material assumptions, including that the Company's financial con dition and development plans do not c hange
as a result of unforeseen events, 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 uncertain ties and
other factors that could cau se 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 inaccu rate incl ude, but are not limited to, the risk that any of the assumptions
referred to above prove not to be valid or reliable; failure to obtain necessary government approvals; changes
to government regulations relating to the COVID -19 pandemic; market co nditions and volatility and global
economic conditions , including delays, increased volatility and potentially negative capital raising conditions
resulting from the continued COVID -19 pandemic and risks relating to the extent and duration of such
pandemic and its impact on global markets ; risk of delay and/or cessation in planned work or changes in the
Company's financial condition and development plans; risks associated with the interpretation of data
(including in respect of the third party mineralized m aterial) regarding the geology, grade and continuity of
mineral deposits; the uncertainty of the geology, grade and continuity of mineral deposits and the risk of
unexpected variations in mineral resources, grade and/or recovery rates; risks related to gol d, silver , base
metal and other commo dity price fluctuations; risks relating to environmental regulation and liability; the
possibility that results will not be consistent with the Company's expectations, as well as the other risks and
uncertainties applicable to m ineral exploration and devel opment activities and to the Company as set forth in
the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. There can
be no assurance that a ny forward-looking information will p rove 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 s tatements. The Company undertakes no
obligation to update forward-looking information or statements, other than as required by applicable law.