Santacruz update report on the storage freeze

Vancouver, British Columbia (October 28, 2021) – Santacruz Silver Mining Ltd. (TSX.V: SCZ)(the society” or Santa Cruz). The company would like an update on the previously announced acquisition of a portfolio of Bolivian mining assets from Glencore (the “Acquisition“).

In accordance with the TSX Venture Exchange (“TSXV“) Directive 5.3 – Acquisition and sale of property (“Directive 5.3“), trading in the company’s common stock on the TSXV will cease on October 12, 2021 pending review by the TSXV as the acquisition is expected to constitute a” fundamental acquisition “for the company within the meaning of Policy 5.3 TSXV will be terminated once certain conditions under Section 5.6 of Policy 5.3 are met, including the delivery of technical reports to the exchange prepared in accordance with National Instrument 43-101 – Mineral Disclosure Standards in relation to the mineral material properties to be acquired.

About Santacruz Silver Mining Ltd.

Santacruz is a Mexico-focused silver company with a producing silver project (Zimapan) and two exploration properties, the La Pechuga Property and the Santa Gorgonia Project. The company is led by a technical team of professionals with a proven track record in developing, operating and discovering silver mines in Mexico. Our corporate goal is to become a medium-sized silver producer.


Arturo Prestamo Elizondo,
Executive Chairman and Interim CFO

For more information please contact:

Arturo Prestamo
Santacruz Silver Mining Ltd.
E-mail: [email protected]
Phone: (604) 569-1609

Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-looking information

Certain statements in this press release constitute “forward-looking information” as used in applicable Canadian securities laws, including statements relating to: the completion of the transaction, including the anticipated timing; the fulfillment of all conditions for the completion of the transaction, including obtaining all necessary consents and approvals; the lifting of the trade freeze and the Company’s plan to prepare technical reports on the tangible mineral concessions to be acquired.

Forward-looking information is based on plans, expectations and estimates made by management at the time the information was provided and is subject to certain factors and assumptions. In the forward-looking statements in this press release, the company has made several key assumptions, including that unforeseen events will not change the Company’s financial position and development plans, and that future metal prices and demand and market prospects 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 differ materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this press release to change or be inaccurate include, but are not limited to: the risk that any of the above assumptions prove to be invalid or reliable; Market conditions and volatility and global economic conditions, including increased volatility and potentially negative fundraising conditions due to the continuation or escalation of the COVID-19 pandemic and risks related to the extent and duration of such pandemic and its impact on global markets; Controls or regulations and political or economic developments in Bolivia; Risk of delay and / or suspension of planned work or changes in the company’s financial position and development plans; Risks associated with the interpretation of data (including those relating to third party mineralized material) relating to the geology, grade and continuity of mineral deposits; the uncertainty of the geology, grade and continuity of mineral deposits and the risk of unexpected fluctuations in mineral resources, grade and / or recovery rates; Risks associated with gold, silver, base metal and other commodity price fluctuations; Employee relations; Relationships with and claims of local communities and indigenous peoples; Availability and increasing costs associated with mining input and labor; the speculative nature of mineral exploration and development, including the risks of obtaining required licenses and permits and the existence of laws and regulations that may impose restrictions on mining; Risks related to environmental regulations and liability; the possibility that results will not meet the Company’s expectations and the other risks and uncertainties that apply to the mineral exploration and development activities and to the Company, as set out in the Company’s ongoing disclosure filings, which can be found under the Company’s Profile at

There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking information or statements. The company assumes no obligation to update any forward-looking information or statements except as required by applicable law.

Disclaimer of liability

Santacruz Silver Mining Ltd. published this content on October 28, 2021 and is solely responsible for the information contained therein. Distributed by public, unedited and unchanged, on October 28, 2021 21:06:01 UTC.

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