Santacruz Silver Announces Extension of Filing Deadline for its First Quarter 2020 Financial Statements and MD&A

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Overig advies 30/05/2020 15:53
Vancouver, B.C. -- Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the "Company" or "Santacruz") announces that, as a result of delays caused by the COVID-19 pandemic, the Company will be postponing the filing of its condensed consolidated interim financial statements for the three-month period ended March 31, 2020 and accompanying management's discussion and analysis and related CEO and CFO certificates (collectively, the "Q1 2020 Filings"), which are required to be filed by June 1, 2020 under National Instrument 51-102 - Continuous Disclosure Obligations.

On March 18, 2020, the Canadian Securities Administrators (CSA) announced that they would provide issuers with a 45-day extension for filings required on or before June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of the COVID-19 pandemic.

The Company will rely on this exemption with respect to the Q1 2020 Filings in accordance with BC Instrument 51-515 --Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-515"). The Company is continuing to work diligently and expeditiously to complete and file the Q1 2020 filings and currently expects to have them filed on or prior to the extended filing deadline of July 16, 2020.

Until the Q1 2020 Filings are filed, management and other insiders of the Company continue to be subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 -- Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since the filing of its press release dated April 27, 2020 regarding its postponement, in accordance with BCI 51-515, of filing its annual consolidated financial statements for the financial year ended December 31, 2019, there have been no material business developments other than those that have been publicly disclosed as required under applicable securities laws and stock exchange requirements. The Company continues to work towards filing its annual financial statements and related documents on or prior to the extended filing deadline of June 15, 2020.

'signed'
Arturo Préstamo Elizondo,
President, Chief Executive Officer and Director



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