Mr. Arturo Prestamo reports

SANTACRUZ SILVER REPORTS FATALITY AT ITS PORCO MINE IN BOLIVIA

A Santacruz Silver Mining Ltd. employee was fatally injured as a result of underground rockfall at its Porco mine in Bolivia on July 5, 2023.

Arturo Prestamo commented: "The health and safety of our work force is our No. 1 priority, and we are deeply saddened by this tragic accident and have extended our deepest condolences to the employee's family. We are providing all necessary assistance to the family and our employees during this difficult time. Our leadership, employees and contractors are committed to creating a work environment that promotes safety and zero harm."

The underground rockfall occurred while timber supports were being replaced and no other personnel were injured. Safety personnel immediately followed mine rescue protocols to close the mine, rescue the injured employee, and informed the family and authorities. An investigation is continuing and once completed, its conclusions and recommendations will be reviewed with key mine-site management and all staff at all mining operations to better understand what more can be done to improve Santacruz's safety performance.

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 comprise 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.

We seek Safe Harbor.