VANCOUVER, B.C. – Santacruz Silver Mining Ltd. (TSX.V: SCZ) (OTCQB: SCZMF) (FSE: 1SZ) (“Santacruz” or the “Company”) announces that it has applied to, and received from the British Columbia Securities Commission, a temporary management cease trade order (the “MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), on the basis that it was unable to file its annual financial statements, accompanying management’s discussion and analysis and required certifications for the year ended December 31, 2024 (the “Required Filings”) on or before the prescribed filing deadline of April 30, 2025 (the “Filing Deadline”), as required by National Instrument 51-102 – Continuous Disclosure Obligations and National Instrument 52-109 – Certification of Disclosure in Issuer’s Annual and Interim Filings, respectively.

The MCTO prohibits trading in securities of the Company by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. During the period in which the MCTO is effective, the general public, who are not insiders of the Company, will continue to be able to trade in the Company’s listed securities.

The Company advises that the failure to file its Required Filings by the Filing Deadline is due to the Company’s auditor recently advising the Company that it is unable to complete its audit procedures in advance of the Filing Deadline. The Company anticipates that it will be in a position to remedy the default by filing the Required Filings on or before May 16, 2025. The MCTO will be in effect until the Required Filings are completed.

The Company intends to satisfy the provisions of the alternative information guidelines set out in section 10 of NP 12-203 so long as the Required Filings are outstanding.