SCZ.V · 2023-01-11 12:00:00

Santacruz Silver Appoints Chief Financial Officer

Management Changes

TSX.V: SCZ

FSE: 1SZ

January 11, 2023

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (FSE: 1SZ) (the “ Company” or

“Santacruz”) is pleased to announce the appointment of Mr. Gregg Orr, as the new Chief Financial

Officer and Corporate Secretary of the Company effective January 9, 2023. Mr. Orr replaces Mr.

Arturo Préstamo, who will continue to act as Executive Chairman and Director of the Company.

Mr. Orr is a Chartered Professional Accountant with extensive experience assisting companies in the

public marketplace with initial public offerings, dual listings, due diligence assignments and completion

of prospectus offerings. Mr. Orr was the British Columbia Mining Leader for Deloitte for six years and

worked for Deloitte in Vancouver, New York, and London for over 23 years serving clients in public

accounting, auditing and advisory. Mr. Orr was an Audit Partner for 10 years and has held previous

CFO and board positions for public companies.

Mr. Préstamo said; “After a rigorous global search process on, behalf of Santacruz and its Board of

Directors, I am very pleased to welcome Gregg to the executive team, Gregg has a superior track

record of delivering results and creating value. ” Mr. Préstamo continued; “ Gregg is a high- impact

executive who brings a solid blend of strategic and capital allocation discipline with strong operating

skills and good leadership. He is an outstanding addition to our team as we execute on our sustainable

long term value creation objective.”

Option Grant

The Company further announces that, pursuant to the Company’s stock option plan, it has granted

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

The Options are exercisable until January 10th, 2028 at an exercise price of $0.41 per share, with 25%

of the Options vesting immediately, and 25% vesting every 6 months thereafter.

About Santacruz Silver Mining Ltd.

The Company is engaged in the operation, acquisition, exploration and development of mineral

properties in Latin America, with a primary focus on silver and zinc, but also including lead and copper.

The Company currently has four producing projects which include the Zimapan 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 trading business. The Company

holds three exploration properties in its mineral property portfolio, 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:

Arturo Préstamo Elizondo

Santacruz Silver Mining Ltd.

Telephone: (528) 183 785707

Neither 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

release.