Vancouver, British Columbia--(Newsfile Corp. - August 16, 2022) - Santacruz Silver Mining Ltd. (TSXV: SCZ) (the "Company" or "Santacruz") is pleased to announce the appointment of Mr. Wayne Corso to the role of Chief Operating Officer. Mr. Corso holds a B.Sc., Mining Engineering, from the Colorado School of Mines at Golden Colorado, has over 35 years of experience in the industry and will be responsible for overseeing all operational functions of the Company's mines and exploration projects. The current portfolio includes operations and projects in Mexico and Bolivia.

Prior to joining Santacruz, Mr. Corso managed various technical teams for JDS Energy and Mining Inc. to evaluate, optimize and develop mineral resource projects. He has strong technical, operational and management skills, with the ability to lead in technical and operational environments. Mr. Corso has also participated in the evaluation, development and operation of various mineral resource properties throughout his career in engineering and management roles with companies such as BHP Billiton, RMC Pacific, and Homestake Mining Company.

Carlos Silva, Santacruz's CEO stated, "We are delighted to welcome Wayne to the Santacruz team. Wayne is well-recognized for his contribution to the mining industry on different projects and brings extensive expertise as well as a depth of mining experience that will help Santacruz as we pursue our vision of being a premier senior silver producer."

Wayne Corso, Santacruz's COO stated, "I am excited to become part of the talented team that Santacruz has assembled and look forward to doing my part to generate maximum value from Santacruz' considerable resources both mineral and personal."

Option Grant

The Company further announces that, pursuant to the stock option plan of the Company, it has granted 1,000,000 stock options ("Options") to purchase common shares to an officer of the Company. The Options are exercisable until August 16, 2024 at an exercise price of $0.45 per Option, vesting 25% immediately and 25% each 6 months thereafter.

About Santacruz Silver Mining Ltd.

The Company is engaged in the operation, acquisition, exploration and development of mineral properties in Latin America, with a primary focus on silver and zinc, but also including lead and copper. The Company currently has four producing projects which include the Zimapan mine in Mexico and recently the Caballo Blanco mine, the Bolivar mine (45% interest) and Porco mine (45%). The Company also has a 100% interest in the San Lucas ore sourcing and trading business. The Company holds three exploration properties in its mineral property portfolio, being the La Pechuga Property (Mexico), the Santa Gorgonia Prospect (Mexico) and the Soracaya Prospect (Bolivia).

'signed'

Arturo Préstamo Elizondo,
Executive Chairman

For further information please contact:

Mars Investor Relations
Telephone: (778) 999 4653
scz@marsinvestorrelations.com

Arturo Prestamo
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver.com
Telephone: (528) 183 785707

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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