Santacruz Silver Completes Veta Grande Mill Expansion
TSX.V: SCZ
FSE: 1SZ
March 23, 2018
Santacruz Silver Completes Veta Grande Mill Expansion
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports that
expansion of milling capacity at its Veta Grande Project to 750 tpd has been completed. The mill is
anticipated to be operating at full capacity by early in the second quarter 2018. Currently the mill is
operating at 450 tpd and will ramp up in stages until it reaches the new designed capacity.
Management will next focus on enhancing mining efficiencies including the construction of an
underground tunnel system that will connect the Veta Grande, San José, Armados and La Flor veins.
Upon completion, all underground mining areas will be connected by a new ore haulage level. The
consolidation of the underground operations will significantly improve operating efficiencies and is
expected to have a positive impact on cash operating costs.
The completion of the mill expansion was commemorated on March 20, 2018, at a ceremony in Veta
Grande, Zacatecas, Mexico, in which approximately 150 people attended including several Mexican
State and Municipal authorities.
Carlos Silva, Santacruz’s COO stated “I commend our T echnical Team for achieving this significant milestone
ahead of schedule. This new increased milling capacity will allow us to shortly achieve positive cash flow at the
Veta Grande operations.” Mr. Silva continued; “Our exploration programs will keep advancing to establish and
increase our mineral resources with the eventual plan to further expand mill capacity at this historical silver rich
mining district of Veta Grande”.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two producing silver projects, Veta Grande and Rosario,
and two exploration properties, the Minillas property and Zacatecas properties. The Company is managed by a
technical team of professionals with 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,
President, Chief Executive Officer and Director
For further information please contact:
Arturo Prestamo
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 rele ase.
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 management 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, including, but not limited to, assumptions as to the continuation of payments under
the Agreement, the expansion of the Vita Grande Project, the Company's financial condition and development
plans do not change as a result of unforeseen events, third party mineralized ma terial 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 cou ld 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 the assumptions referred to prove
not to be valid or reliable, which could result in lower revenue, higher cos t, 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 p arty
mineralized material) regarding the geology, grade and continuity of mineral deposits; the possibility that results
will not be consistent with 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, the reader should not place any undue reliance on
forward-looking information or statements. The C ompany 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 mineral resources. Accordingly, there is increased uncertainty
and economic and technical risks of fai lure 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.
Veta Grande Project
The decision to comme nce production at Veta Grande Project was not based on a feasibility study on mineral
reserves demonstrating economic and technical viability. Accordingly, there is increased uncertainty and
economic and technical risks of failure associated with this prod uction 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.