Click to access May-02-17-2016.pdf

Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) reports on its financial and operating results for the fourth quarter of 2016 (“Q4”) and for the 2016 fiscal year. The full version of the financial statements and accompanying management’s discussion and analysis can be viewed on the Company’s website at http://www.santacruzsilver.com or on SEDAR at http://www.sedar.com. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of US dollars, except per unit amounts, unless otherwise indicated. Highlights:  In 2016 silver equivalent production increased by 12% to 928,467 ounces from 832,283 ounces in 2015  Year on year improvement in production cost per tonne of $79.59 per tonne in 2016, compared to $92.63 per tonne in 2015  In 2016 the Company completed the restructuring of its silver loan agreement with JMET, LLC (“JMET”). The restructuring amended the agreement such that the Company no longer has any metal delivery obligations to JMET and significantly reduced the debt position on the Company  Subsequent to 2016, the Company divested of two non-core assets, the San Felipe Project and the El Gachi Property, in order to monetize these assets and further reduce debt obligations