Santacruz Silver Appoints Chief Operating Officer
TSX.V: SCZ November 27, 2017
FSE: 1SZ
Santacruz Silver Appoints Chief Operating Officer
November 17, 2017
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) announce s the
appointment of Mr. Carlos Alberto Silva Ramos to the position of Chief Operating Officer of the Company
effective November 27 , 2017 . Mr. Silva will report directly to the President and CEO of the Compan y, Mr.
Arturo Préstamo.
Mr. Silva is a well-known and highly respected Mexican mining engineer with a degree from the University of
Guanajuato, and additionally holds an MBA from ITESM (Instituto Tecnologico de Estudios Superiores
Monterrey). He has more than 30 years ’ of experience working in the mining industry in Mexico with both
senior and junior mining companies, the last 17 years of which were in senior management roles.
Most recently, Mr. Silva has been Co-Founder and Chief Executive Officer of Carrizal Mining S.A. de C.V. , a
private Mexican silver produc er where, during his nine year tenure , he successfully increased the mining and
milling operations of the Zim apan Mine, at Zimapan, Hidalgo, Mexico, from 1,400 tpd to 3 ,200 tpd. Prior to
this, Mr. Silva held the position of Strategic Planning and Engineering Superintendent for the Tayoltita Mine
located in San Dimas, Durango, Mexico, originally owned by Luismin S.A. de C.V. , a private Mexican mining
company, subsequently acquired by Goldcorp Inc. (TSX:G) (NYSE:GG) and then sold to Primero Mining Corp.
(TSX:P). During his time with the Tayoltita Mine , he supervised the planning and initial mill expansion from
1,800 to 2,100 tpd followed by a further expansion to 3,200 tpd with concurrent increases in mine production.
Mr. Silva is currently the President of the Mexican Federation for Sustainable Mining, and earlier this year was
recognized as one of Mexico ’s be st miners by the Zimapan, Guanajuato and Pachuca District´s by the
AIMMGM (Asociación de Ingenieros de Minas, Metalurgistas y Geólogos de México, A.C. ).
Mr. Silva replaces Mr. Dante Rodriguez, who was interim COO for Santacruz. Mr. Rodriguez will remain as the
Company’s VP of Exploration.
Mr. Arturo Préstamo stated: “We are extremely pleased to announce the appointment of Mr. Silva as our Chief
Operating Officer . Carlos has a long and successful mining career in Mexico and is well respected for his
accomplishments working with precious metals producers in Mexico as an engineer and manager. We
welcome his operational expertise and look forward to his integration into our team at Santacruz as we work to
optimize our production assets in Mexico. We would a lso like to thank Mr. Rodriguez for his work overseeing
the operation s of the Company over the past several months under challenging conditions , and we look
forward to our continued work with him in his new role.”
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two producing silver assets (Rosario Project, including
the Rosario Mine, Cinco Estrellas Property and Membrillo Prospect, and the right to operate the Veta Grande
mine and milling facility); and two explorat ion 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 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. Forward -looking information is based on plans, expectations and
estimates of manage ment 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 cond ition 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 required
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 t he 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 wit h 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 profile 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, t he 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 minera l 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 detailed site analy sis
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. Accordingly, there i s 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.