Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) ("Santacruz" or "the Company”) reports its financial and operating results for the third quarter (“Q3”) of 2023. The full version of the financial statements and accompanying Management’s Discussion and Analysis (the “MD&A”) can be viewed on the Company’s website at www.santacruzsilver.com or on SEDAR+ at www.sedarplus.ca.

Q3 2023 Highlights

Processed 467,563 tonnes of material in the quarter: 1,394,029 tonnes in the first nine months of 2023;
Produced of 5,669,905 silver equivalent ounces in the quarter: 16,883,823 silver equivalent ounces in the first nine months of 2023;
Cash cost per silver ounce sold of $21.68 in the quarter: $19.34 in the first nine months of 2023;
AISC per silver ounce sold of $25.98 in the quarter: $23.10 in the first nine months of 2023;
Revenue of $64,408,000 in the quarter: $193,640,000 in the first nine month of 2023; and
Adjusted EBITDA of $4,628,000 in the quarter: $26,368,000 in the first nine months of 2023.
Arturo Préstamo, Executive Chairman and Interim CEO of Santacruz, commented, “The Company had a solid quarter in the face of a challenging commodity price environment.” Mr. Préstamo continued, “While we continue to identify and implement efficiencies at all our assets, it is important to highlight the significant changes that were made at the Zimapan mine in Mexico during the quarter. By streamlining the management team and shifting to more owner-operated mining, we were able to increase productivity and decrease costs, and expect to continue to see the benefits from these changes in the next quarter.”

Selected consolidated financial and operating information for the quarter ended September 30, 2023 are presented below. All financial information is prepared in accordance with International Financial Reporting Standards (“IFRS”), and all dollar amounts are expressed in thousands of US dollars, except per unit amounts, unless otherwise indicated.

2023 Third Quarter Highlights. see & read more on
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