Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V: SCZ) (OTCQB: SCZMF) (FSE: 1SZ) ("Santacruz" or "the Company”) is pleased to announce that the Company has structured and implemented a plan to exercise its Acceleration Option to satisfy the Base Purchase Price owed to Glencore, by making payments on a schedule that aligns the accelerated timing whilst meeting the Company’s commitment to financial discipline and a strong balance sheet. The plan's primary objective is to save the Company US$40 million.

The Company successfully completed the first component of this plan, an initial payment to Glencore of USD$10 million, on March 20, 2025. Moving forward under the plan, Santacruz will make bi-monthly payments of USD$7.5 million commencing in May 2025 until reaching a total of USD$40 million, with all payments scheduled to be completed by October 31, 2025. This structured plan reflects the Company’s commitment to fulfilling its obligations and achieving cost savings while maintaining financial discipline and strong cash reserves over time.

Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: “This accelerated payment to Glencore highlights our strong financial discipline and commitment to seeking out and capitalizing on opportunities to enhance shareholder value. This payment plan is structured to preserve an optimal level of working capital while further strengthening the Company’s ability to achieve long-term growth and value creation objectives.”

Mr. Préstamo added: “We sincerely appreciate Glencore’s continuous support. Glencore’s professionalism and collaborative approach have been key to maintaining an exceptional business relationship, which has greatly contributed to our current success. We look forward to continuing this strong partnership in the future.”

Please refer to the Company's October 3, 2024, and April 4, 2024 news releases for details on the payment structure for the Bolivian assets acquisition.

About Santacruz Silver Mining Ltd.
Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties in Latin America. The Bolivian operations comprise the Bolivar, Porco and the Caballo Blanco Group, which consists of the Tres Amigos and Colquechaquita mines. The Soracaya exploration project and San Lucas ore sourcing and trading business are also in Bolivia. The Zimapan mine is in Mexico.

‘signed’
Arturo Préstamo Elizondo,
Executive Chairman and CEO