Santacruz Silver Signs Agreement to Acquire the Zimapan Mining Assets from Grupo Peñoles

2020-07-28_NR

Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) through its wholly owned subsidiary, Carrizal Mining, S.A. de C.V. (“Carrizal”), has entered into a legally binding term sheet (the “Term Sheet”) with Minera Cedros, S.A. de C.V. (“Minera Cedros”), a wholly owned subsidiary of IndustriasPeñoles, S.A.B. de C.V. to acquire (the “Transaction”) the Zimapan property and related assets (the “Zimapan Mine”) located in Zimapan, Hidalgo State, Mexico for total consideration of US$20 million (plus applicable Mexican Value Added Tax of US$3.2 million) (the “Purchase Price”).

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