Vancouver, British Columbia--(Newsfile Corp. - June 15, 2023) - Santacruz Silver Mining Ltd. (TSXV: SCZ) ("Santacruz" or "the Company") reports that following the cease trade order being lifted by the British Columbia Securities Commission and the Ontario Securities Commission on Friday June 9, 2023, its shares will resume trading on Friday June 16, 2023, on the TSX Venture Exchange when the market opens.

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 are comprised of the Bolivar, Porco and the Caballo Blanco Group, which consists of the Tres Amigos, Reserva 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
For further information please contact:

Arturo Préstamo
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver.com
Telephone: +1 (528) 183 785707

Sabina Srubiski
Manager, Investor Relations
Santacruz Silver Mining Ltd.
Email: info@santacruzsilver.com
Telephone: +1 (604) 351 7909

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.

Forward looking information

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding the timing of Santacruz's shares resuming trading on the TSX Venture Exchange (the "TSXV").

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks that Santacruz's shares will not resume trading on the TSXV on the timeline management expects.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the assumption that Santacruz's shares will resume trading on the TSXV today at market open.

There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.

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