Santacruz wholly owned subsidiary Carrizal Mining has received recognition in IRMA (Initiative for Responsible Mining Assurance) for an achievement of IRMA Transparency
TSX.V: SCZ
FSE: 1SZ
October 21, 2020
Santacruz wholly owned subsidiary Carrizal Mining has received recognition in IRMA
(Initiative for Responsible Mining Assurance) for an achievement of IRMA Transparency
Vancouver, B.C. -- Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the "Company" or " Santacruz") is pleased
to announce that its wholly owned subsidiary Carrizal Mining has been recognized by the Initiative for
Responsible Mining Assurance after an audit for compliance with the IRMA Standard for Responsible Mining.
Transparency is the first of four levels of IRMA’s social and environmental performance system and it attests
that internal administrative and control procedures implemented at the Carrizal Mine have been independently
evaluated and transparently shared with the public.
Carlos Silva, CEO of Santacruz stated; “Receiving recognition for IRMA Transparency is an important
milestone as we advance along IRMA’s process. This norm will help us to c ontinue to improve our busin ess
practices toward standards that go beyond industry standards for social reposnsibility which translates into a
culture of mutual respect and ultimately success for the Company and its employess as we strive to meet our
corporate objecti ves. Mr. Silva continued; “I commend our employees at all levels for the hard work and
dedication which allows us to receive this recognition from IRMA and, at the same time, encourage all of our
staff to continue the hard work to advance to full IRMA certification while improving our opera tions and fiscal
metrics.
About IRMA Certificate.
The IRMA Standard is based on four principles; Business Integrity, Social Responsibility, Environmental
Responsibility and Planning for Positive Legacies, while offering a true independent third-party verification and
certification against a comprehensive standard for our industry.
For further information about IRMA, please refer to; www.responsiblemining.net
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silve r company that currently owns and operates the Rosario Project. The
Company also owns 100% of Carrizal Mining S.A. de C.V. Carrizal Mining holds a 20% working interest in the
Company’s Veta Grande Project and has the right to operate the Zimapan Mine unt il December 31, 2020
under a mining lease agreement. On July 28, 2020 the Company announced that it had reached agreement
with Minera Cedros, S.A. de C.V. (“Minera Cedros”), a wholly owned subsidiary of Industrias Peñoles, S.A.B.
de C.V., to acquire outrig ht the Zimapan Mine for US$20.0 million (plus applicable IVA of US$3.2 million ),
subject to a number of conditions, including receipt of all necessary regulatory approvals including approval of
the T SX Venture Exchange (" TSXV") to the transaction which wil l constitute a "Fundamen tal Acquisition"
pursuant to TSXV Policy 5.3.
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 b ecome a mid-tier si lver
producer.
‘signed’
Arturo Préstamo Elizondo,
Executive Chairman
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.
The information in this news release under the section titled "About Palisades Goldcorp Ltd." was provided by
management of Palisades Goldcorp Ltd.
Forward looking information
Certain statements contained in this news release constitute "f orward-looking information" as such term is
used in applicable Canadian securities laws , including the agreement with Minera Cedros and the acquisition
of the Zimapan Mine by the Company . Forward -looking information is based on plans, expectations and
estimates of managem ent at the date the inf ormation 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 that the Company's financial condition and development plans
do not change as a result of unforeseen events, that the Company will receive all required regulatory
approvals and that future metal prices and the demand and ma rket outlook for metals will remain stabl e or
improve. F orward-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, unanticipated delays in obtaining or failure to obtain regulato ry or
stock exchange ap provals; the risk that any of the assumpti ons referred to above prove not to be valid or
reliable; there can be no assurance that the Company will be successful in completing t he acquisition of the
Zimapan Mine (including obtaining t he necessary funding); risk of delays or inability to obtain the approval of
the TSXV to the acquisition of the Zimapan Mine; market conditions and volatility and global economic
conditions, including increased volatility and potentially negative capital r aising conditions resul ting from the
continued COVID-19 pandemic and risks relating to the extent and duration of such pandemic and its impact
on global markets ; risk of delay and/or cessation in pla nned work or 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) regarding the geology, grade and continuity of mineral deposits ; the
uncertainty of the geology, grade and continuity of mineral deposits and t he risk of unexpected variations in
mineral resources, grade and/or recovery rates; risks related to gold, silver, base metal and other commodity
price fluctuations; risks relating to environmental regulation and liability; the possi bility that results wil l 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 Compan y as set forth in the Company's continuous
disclosure filings filed under the Co mpany'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 sta tements. Accordingly, the reader should no t 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.