Mr. Arturo Prestamo reports

SANTACRUZ SILVER ANNOUNCES CEASE TRADE ORDER

Santacruz Silver Mining Ltd. is delayed in filing its audited annual financial statements and corresponding management's discussion and analysis for the year ended Dec. 31, 2022, including the chief executive officer and chief financial officer certificates, with a filing deadline of May 1, 2023.

As a result of the company's delayed filing of its financial documents, the company has received a cease trade order from the B.C. Securities Commission.

The company has experienced delays in preparing the financial documents following the acquisition of the Bolivian assets, and is working diligently to finalize and file such financial documents, at which point the company will seek to have the CTO revoked.

About Santacruz Silver Mining Ltd.

Santacruz is engaged in the operation, acquisition, exploration and development of mineral properties in Latin America, with a primary focus on silver and zinc, but also including lead and copper. The company has six producing mines: Bolivar, Porco and the Caballo Blanco group, which consists of the Tres Amigos, Reserva and Colquechaquita mines in Bolivia, along with the Soracaya exploration project and San Lucas ore sourcing and trading business; the Zimapan mine is in Mexico.

We seek Safe Harbor.