Santacruz Silver Terminates San Felipe Project Sale

Click to access 2016-12-23_NR.pdf

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (“Santacruz” or the “Company”) reports that it has terminated the previously announced agreement in connection with the Company’s sale of the San Felipe Project (the “Transaction”) (see press release dated December 7, 2016) to the Hermosillo Group. No payments pursuant to the Transaction have been made to date. Discussions have been on-going with respect to revised payment terms however this process has not led to a payment schedule acceptable to the Company and therefore the agreement has been terminated by the Company. The Company is in discussions with Minera Hochschild Mexico, S.A. de C.V. the underlying property vendor with respect to the continued deferral of the payment terms for the San Felipe Project.

 

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