Santacruz Silver Mining Ltd. (TSX-V:SCZ) is pleased to provide an update from the Phase I drill program ongoing on the Veta Grande, Armados, and Navidad veins that form part of the Company’s Veta Grande Project located in the Zacatecas mining district, Zacatecas, Mexico (see press release dated July 9, 2018).  Diamond drilling is well on its way to better define the Veta Grande and Navidad veins from surface while an underground drill rig will be used to better define the Armados vein.  To date, 19 drill holes totalling 6,165 metres have been completed.

Initial drill results at the Navidad vein are confirming high-grade vein intersections near surface and close to existing mine workings. Highlights include drill hole NA18-006 that intersected 668.84 grams per tonne silver, 0.17 grams per tonne gold, and 0.12 percent copper (698.35 grams per tonne silver-equivalent) over 1.95 metres (approximated true width), from 56.6 metres to 58.75 metres. In addition to this, the Veta Grande vein is also confirming strong mineralization to the north.

Carlos Silva, COO of Santacruz, commented; “With these drill results at the Navidad vein, and higher grade intercepts along the northern strike of the Veta Grande vein, we continue to demonstrate the potential of this high-grade mineralized district.” Mr. Silva added; “We recently identified the potential of the Navidad vein, which has never been systematically explored, and results thus far are extremely encouraging. Drilling is continuing with an additional 14,000 metres of diamond drilling budgeted.”

Veta Grande Project Assay Results

Silver equivalent (AgEq) in the drill results assumes $1,331 per ounce Au (Pau), $16.73 per ounce Ag (Pag), $1.13 per pound Pb (Ppb), $1.53 per pound Zn (Pzn), and $3.14 per pound Cu (Pcu) with 100-per-cent metallurgical recovery. The formula used in the calculation is as follows:

EqAg (g/t) equals [(Au multiplied by Pau divided by 31.1035) plus (Ag multiplied by Pag divided by 31.1035) plus (Pb multiplied by Ppb multiplied by 22.05) plus (Zn multiplied by Pzn multiplied by 22.05) plus (Cu multiplied by Pcu multiplied by 22.05)] divided by (Pag).

Quality control/quality assurance program

All drill core was logged, photographed and cut in half with a diamond saw. Half-core samples were sent to SGS Minerals Services in Durango, Mexico (17025 accredited), for preparation and analysis. Drill core samples were analyzed for 33 elements by four-acid digestion of a 0.5-gram sample followed by an ICP-AES (inductively coupled plasma atomic emission spectroscopy) finish. Overlimit for Pb, Zn and Cu were further analyzed by sodium peroxide fusion of a 0.5-gram sample followed by ICP-AES finish. Au and Ag was also analyzed by fire assay of a 30-gram sample followed by AAS (atomic absorption spectroscopy) finish for Au and gravimetric finish for Ag.

As part of the company’s quality assurance/quality control program, independently certified control samples (standard and blank pulp samples) were inserted in each analytical batch. Field duplicate samples were also submitted for analysis. The control and duplicate sample results were then checked to ensure proper QA/QC.

Qualified persons

The technical information contained in this news release has been reviewed and approved by Van Phu Bui, BSc, PGeo, who is independent of the company and a qualified person under National Instrument 43-101.

About Santacruz Silver Mining Ltd.

Santacruz is a Mexican focused silver company with two producing silver projects (Veta Grande Project and Rosario Project) and two exploration properties (Minillas Property and Zacatecas Properties). The Company is managed by a technical team of professionals with proven track records in developing, operating and discovering silver mines in Mexico. Our corporate objective is to become a mid-tier silver producer.