Mr. Arturo Prestamo reports

SANTACRUZ SILVER REPORTS FATALITY AT ITS ZIMAPAN MINE IN MEXICO

An employee was fatally injured at Santacruz Silver Mining Ltd.'s Zimapan mine on Sept. 8, 2023.

Arturo Prestamo, executive chairman and interim chief executive officer, commented: "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 follow best safety practices, and the company will evaluate the need for changes to mining safety procedures."

The fatality was the result of rockfall from a stope face. A jackleg driller and his helper were collaring a horizontal blast hole, at which time a rock fell from the face and struck the helper. Safety personnel were immediately notified and followed mine rescue protocols to close the mine, attend to the injured employee, and inform 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. The mine has since resumed operations.

About Santacruz Silver Mining Ltd.

Santacruz is engaged in the operation, acquisition, exploration and development of mineral properties in Latin America. The Bolivian operations are composed 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.

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