Mr. Arturo Prestamo reports

SANTACRUZ SILVER ANNOUNCES INTENTION TO LIST ON THE NASDAQ AND PROVIDES DETAILS FOR UPCOMING ANNUAL GENERAL & SPECIAL MEETING

Santacruz Silver Mining Ltd. has applied to list its common shares on the Nasdaq Capital Market. The company also announces that its 2025 annual general and special meeting of shareholders (AGSM) will be held in person on the 15th floor of 1111 West Hastings St., Vancouver, B.C., V6E 2J3, on Tuesday, Nov. 25, 2025, at 10 a.m. Pacific Standard Time. The notice of meeting, management information circular and form of proxy for the AGSM have been mailed to shareholders, and are available on the company's website and on SEDAR+ under the company's issuer profile.

Arturo Prestamo, executive chairman and chief executive officer, commented: "Our intention to list on the Nasdaq represents a significant milestone in Santacruz's growth strategy. It also demonstrates our commitment to increasing transparency and liquidity, expanding our shareholder base, and enhancing Santacruz's visibility within the U.S. capital markets." Mr. Prestamo added: "We believe that pursing this listing will strengthen our position as a leading silver producer and provide our shareholders with greater access to the value we are creating across our portfolio. We look forward to seeking our shareholders' support at the upcoming annual general and special meeting as we take this important step forward."

In connection with the proposed listing, the company will seek shareholder approval at the upcoming AGSM for, among other things, a consolidation of its common shares to meet Nasdaq's initial listing requirements, which include a minimum bid price of $4 (U.S.) per share. As outlined in the management information circular, shareholders will be asked to approve a consolidation ratio of one for up to 10. If the consolidation is approved and effected by the company, the actual ratio chosen by the board of directors will be announced in a subsequent release following the AGSM.

Based on the company's recent trading history, management of the company expects that the actual ratio for the consolidation needed to meet Nasdaq minimum bid pricing will be equal to or less than 1:4. The company intends to effect a ratio for the consolidation that most efficiently meets the company's goals of meeting Nasdaq's initial listing requirements.

As of the record date for the AGSM, 365,384,489 common shares are issued and outstanding. Assuming the consolidation is completed on a 1:10 ratio and no other changes to the company's share capitalization prior to the record date for the consolidation, the number of common shares issued and outstanding will be approximately 36,538,448. If a 1:4 ratio is selected for the consolidation, the number of common shares issued and outstanding will be approximately 91,346,122. The consolidation is subject to the approval of the TSX Venture Exchange.

About Santacruz Silver Mining Ltd.

Santacruz Silver is engaged in the operation, acquisition, exploration and development of mineral properties across Latin America. In Bolivia, The company operates the Bolivar, Porco and Caballo Blanco mining complexes, with Caballo Blanco comprising the Tres Amigos and Colquechaquita mines. The Reserva mine, the production of which is provided to the San Lucas ore sourcing and trading business, is also located in Bolivia. Additionally, the company oversees the Soracaya exploration project. In Mexico, Santacruz operates the Zimapan mine.

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