Santacruz Silver Temporarily Suspends Milling Operations at Its Veta Grande Mine to Complete Capital Upgrades
TSX.V: SCZ
FSE: 1SZ
March 10, 2020
Santacruz Silver Temporarily Suspends Milling Operations at Its Veta Grande Mine
to Complete Capital Upgrades
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) announces
that, following a review of its Veta Grande Mine operations in Zacatecas, Mexico the Company has decided to
suspend the operation of the processing facility for approximately six months to facilitate plant and new tailings
storage facility ("TSF") upgrades.
"While we are continuing with the geotechnical evaluations and assessments of the remaining capacity at the
existing TSF, we have made the decision to suspend processing at Veta Grande", stated Carlos Silva, COO of
Santacruz. "This will provide the opportunity to safely engage in improvements at the processing plant
concurrent with the construction of the new TSF while continuing with mine and resource development."
Mr. Silva continued, “The project includes upgrades to the crushing plant, flotation circuits and ball mills , some
of which are already in progress. The mill and TSF improvements are expected to increase the tonnage milling
capacity, improve the recovery efficiencies and reusage of wastewater from the TSF at Veta Grande making it
a more efficient plant .” As the Company keeps increasing its mill throughputs at Zimapan and Rosario mines,
we expect to offset by 70% the Veta Grande production by the end of May 2020.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two producing silver projects, Veta Grande (with
production temporarily suspended) and Rosario, and two exploration properties, the Minillas prop erty and
Zacatecas properties. T he Company also owns 100% of Carrizal Mining S.A. de C.V. Carrizal Mining is a
private Mexican mining company, the principal asset of which is a 20% working interest in the Company’s Veta
Grande Project. Carrizal Mining al so has the right to operate the Zimapan Mine until December 3 1, 20 20
under a mining lease agreement.
The Company is managed by a technical team of professionals with proven track records in developing,
operating and discovering silver mines in Mexico. Ou r 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 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 re lating to the TSF improvements project at
Veta Grande and pla ns to increase throughputs at the Zimapan and Rosario mines. 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 f orward-looking statements included
in this news release, the Company has applied several material assumptions, including that the Company's
financial condition and development plans do not change 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 uncertainties and other factors that could cause p lans, estimates
and actual results to vary materially from th ose 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, th e risk that any of the assumptions referred to above prove no t to be valid or reliable; risks
associated with potential delays in the funding and timing of the TSF improvements including the risk that the
project will not achieve all of its intended object ives; ris ks associated with increasing the throughput of the
Zimapan and Rosario mines; delays and/or cessation in planned work; 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 material) regardin g 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; market conditions and volatility and global economic
conditions; risks related to gold, silver, base metal and other commodity price fluctuations; risks relating to
environmental regulation and liability; the possibility that result s 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 t he
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 suc h
statements. Accordingly, the reader should not place any un due 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.