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Santacruz Silver Mining Ltd.

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Summary

Project:

Veta Grande

Deposit:Panuco
Location:Mexico
Commodities:Silver-Gold-Lead-Zinc
Date:11/15/2016
Report Code:NI43-101
Report Type:Resource Estimation
Project Stage:Pursuing Resource Increase/Upgrade
Report details:15-11-2016: Santacruz Silver Mining Ltd. announces a Resource Estimation report for its Panuco deposit at the Veta Grande project. Initial resource for the Panuco deposit at the Veta Grande project. The purpose of this report is to present an independent
Resources:(Maiden resource, Inf): 2.642Mt @ 181g/t Ag, 0.17g/t Au, 0.02% Pb, 0.04% Zn
CP/QP:[Resources]: Gary Giroux (Giroux Consultants Ltd.)
ABSTRACT:The purpose of this report is to present an independent assessment and Mineral Resource Estimate for the Panuco deposit, Zacatecas, Mexico. Santacruz Silver Mining Ltd. (Santacruz) commissioned Van Phu Bui of ARC Geoscience Group (ARC) to prepare a Technical Report and Gary Henri Giroux of Giroux Consultants Ltd. (Giroux) to prepare a mineral resource estimate. Both Bui and Giroux are Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43- 101). The Technical Report and Mineral Resource Estimate are prepared in accordance with NI 43-101. The effective date of this report is October 5, 2016. The Panuco deposit is a low sulfidation (silver-gold, ±lead-zinc) vein system comprised of three vein structures: Panuco Central vein, Panuco NW vein and Tres Cruces vein. The Mineral Resource Estimate presented in this report encompasses all three vein structures and includes mineralization defined by trenching and drilling over a distance of 2.4 km. Santacruz is currently conducting mining activities approximately five to twelve km south of the Panuco deposit. These mining areas include Armados, Garcia, Guadalupana and La Mecha underground workings located on the Veta Grande and La Cantera vein structures. Santacruz also operates the Vetagrande mineral processing facility located in the municipality of Vetagrande.

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