Mr. Arturo Prestamo reports

SANTACRUZ SILVER ANNOUNCES APPOINTMENT OF MR. BRUCE WOLFSON TO BOARD OF DIRECTORS

Santacruz Silver Mining Ltd. has appointed Bruce Wolfson to the company's board of directors effective Nov. 17, 2025.

Mr. Wolfson brings over 40 years of experience in international finance, law and investment management, with a distinguished career spanning emerging markets across Latin America and Asia. Throughout his career, Mr. Wolfson has been actively involved in structuring, placing, investing, and divesting public and private equity on behalf of both issuers and fund investors, as well as financing and restructuring emerging market debt.

From 2015 to 2021, Mr. Wolfson served as general counsel and, at times, chief compliance officer of Jaguar Growth Partners LLC, a global investment management firm focusing on Latin America and Asia. Prior to Jaguar, he was a member of the corporate and Latin America Practice Groups at the global law firm Bingham McCutchen LLP (now Morgan Lewis & Bockius LLP). Before that, he was a partner and general counsel at The Rohatyn Group, an asset management firm specializing in emerging markets, and earlier held the position of senior managing director in the legal department at Bear, Stearns & Co. Inc., where he oversaw all legal work related to trading, sales, capital markets and investment banking activities in the developing world.

Earlier in his career, Mr. Wolfson served as Bank of America's resident counsel in Mexico from 1982 to 1986, where he was responsible for the legal aspects of restructuring the bank's Mexican loan portfolio. He has advised regulators in Latin America and Asia concerning foreign investment regulations and served on the board of directors of EMTA (the trade association of the emerging market trading and investment community) from 1994 to 2015.

In addition to his professional accomplishments, Mr. Wolfson has shared his expertise as an adjunct professor at Columbia University in New York and at Vanderbilt University in Nashville.

Mr. Wolfson holds a bachelor of arts in economics and a juris doctor from the University of Pennsylvania.

Arturo Prestamo, executive chairman and chief executive officer of Santacruz, commented: "We are very pleased to welcome Bruce Wolfson to the Santacruz board of directors. Bruce's extensive experience across international finance, emerging markets and corporate governance will bring a valuable perspective to our team as we continue positioning Santacruz for long-term growth. His deep knowledge of Latin America, coupled with decades of leadership in global investment and legal disciplines, makes him an exceptional addition to our board. We look forward to his insights and contributions as we advance the company's strategic objectives."

The company also announces that Roland Lohner has notified the company that he intends to step down from the board of directors following the upcoming annual general and special meeting on Nov. 25, 2025. Mr. Lohner has served as a director of the company for over 10 years, and the company thanks Mr. Lohner for his contributions during his tenure.

Arturo Prestamo, executive chairman and chief executive officer of Santacruz, commented: "On behalf of the company and the board, I would like to express our sincere gratitude to Roland Lohner for his more than a decade of dedicated service to Santacruz. Roland has been an important part of our journey, providing steady guidance, thoughtful oversight and unwavering support through periods of significant transformation and growth. We are deeply appreciative of his commitment and contributions, and we wish him the very best in his future endeavours."

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, whose production 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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