Santacruz Silver Makes Final Option Payment to Golden Minerals
TSX.V: SCZ
FSE: 1SZ
October 16, 2018
Santacruz Silver Makes Final Option Payment to Golden Minerals
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”)
announces that it has made the final option payment to acquire from Golden Minerals Company
certain mineral claims consisting of 149 concessions covering approximately 7,800 hectares ,
located in the Zacatecas Mining District, Zacatecas, Mexico (the "Zacatecas Properties") (see press
release dated May 4, 2016).
“With this payment Santacruz now owns outright , subject to underlying net smelter royalties on
certain of the claims, these important concessions and controls approximately 8,900 hectares in the
historic and prolific Zacatecas silver mining belt .” stated Carlos Silva, COO of the Company. Mr.
Silva continued “ We are confident that as we progress the exploration and development of our
Zacatecas mineral portfolio we will realize the strong mineral potential of this historic al mining
district”.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two pr oducing silver projects ( Veta Grande
Project and Rosario Project) and two exploration properties (Minillas P roperty and Zacatecas
Properties). The Company’s corporate objective is to become a mid-tier silver producer.
“signed”
Arturo Préstamo Elizondo,
President and CEO
For further information please contact:
Arturo Prestamo
Santacruz Silver Mining Ltd.
Email: [email protected]
Telephone: (011) (52) 81 8378 5707
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 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 ma terial assumptions, that the Company's financial condition 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 expectation s, 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 the 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; th e 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 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 mineral 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 analysis
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 ec onomic and technical viability. 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 analysis according to and
in accordance with NI 43-101.