Santacruz Silver Enters Definitive Agreement to Acquire the Zimapan Mine and Arranges Financing for Transaction

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Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ; OTC:SZSMF; FSE:1SZ) (the “Company” or “Santacruz”) reports that its wholly-owned subsidiary, Carrizal Mining S.A. de C.V. (“Carrizal”), has entered into a definitive agreement (the “P&S Agreement”) with Minera Cedros, S.A. de C.V. (“Minera Cedros”), a wholly owned subsidiary of Industrias Peñoles, S.A.B. de C.V., to acquire (the “Acquisition”) 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”). The P&S Agreement supersedes the term sheet previously entered into by the parties.

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