Day: November 15, 2016

Managing Director Will Dix commented “the new intersections to the south of our modelled mineralisation continue to support the Company’s view that significant base metal resources exist down dip and down plunge of the mine development. These new results will be incorporated into our initial resource estimate due out next month and provide additional targets for immediate follow up. This and the recent regional exploration results have provided the impetus for a re-think on capital management and the decision to focus our cash in the ground rather than accelerating the restructure of the project ownership at this time.”

Bradley Langille, CEO, stated “We are reaffirming our production target of 400,000 to 500,000 silver equivalent ounces for the quarter, and the recent changes to the Parral heap leach should significantly impact future production.”

Santacruz Silver Mining Ltd. announces the results of its resource estimate for the Panuco silver deposit located in Zacatecas, Mexico. The Panuco deposit is situated within Santacruz’s Veta Grande project area and is located approximately five kilometers north of the Company’s Veta Grande Mine and mineral processing facility. The deposit is accessed by paved road and is characterized by modest relief at an average elevation of 2300 meters above mean sea level. The Veta Grande project consists of 184 mining concessions covering an area of 8,944 hectares (22,101 acres) in the Zacatecas Mining District, Mexico.