Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (“Santacruz” or the “Company”) announces that the sale of its interest in the El Gachi Property in Sonora State, Mexico to First Majestic Silver Corp. (“First Majestic”) for total consideration of US$2.5 million plus applicable VAT (see press release dated February 24, 2017) has been completed. From the proceeds of US$2.5 million plus VAT received by the Company, US$0.75 million has been paid to JMET, LLC (“JMET”) to eliminate the residual balance of the interest bearing component of its indebtedness to JMET, leaving a non-interest balance of US$1.5 million owing to JMET related to previous restructuring fees. In addition, the Company paid US$0.50 million plus VAT to Minera Hochschild Mexico, S.A. de C.V. (“MHM”). With this payment to MHM the Company has no further obligations to MHM with respect to the San Felipe or El Gachi properties.