Mr. Arturo Prestamo reports

SANTACRUZ SILVER SHARES TO RESUME TRADING ON JUNE 16, 2023

Following Santacruz Silver Mining Ltd.'s cease trade order being lifted by the British Columbia Securities Commission and the Ontario Securities Commission on Friday June 9, 2023, the company's 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 Prestamo Elizondo,Executive ChairmanFor further information please contact:

Arturo PrestamoSantacruz Silver Mining Ltd. Email: info@santacruzsilver.comTelephone: +1 (528) 183 785707

Sabina SrubiskiManager, Investor RelationsSantacruz 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.

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").