Vancouver, B.C. — Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) is pleased to announce a non-brokered private placement (the “Private Placement”) for up to 40,000,000 units (the “Units”) at a purchase price of C$0.30 per Unit, for gross proceeds to the Company of up to C$12,000,000, with a lead order from Palisades Goldcorp Ltd. Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of the Company at a price of C$0.45 per share for a period of 36 months following the issue of the Warrant. The Company may pay a finder’s fee to arm’s-length finders in connection with the issue and sale of any or all of the securities under the Private Placement. The finder’s fee shall consist of not more than a 6% cash payment calculated with reference to the gross proceeds of the Private Placement in relation to subscribers introduced by any particular finder.