Mr. Arturo Prestamo reports

SANTACRUZ SILVER REPORTS FATALITY AT BOLIVIAN OPERATION

Santacruz Silver Mining Ltd. has suffered the an employee death at the Reserva mine, part of the mining operations in Bolivia.

The incident occurred on June 24, 2026, at approximately 6:30 p.m., at the end of the third shift. Preliminary findings indicate the incident did not occur during the course of normal mining operations or the employee's assigned work duties. Emergency response protocols were immediately activated; however, despite these efforts, the employee did not survive the incident.

The company extends its deepest condolences to the employee's family, friends and colleagues during this difficult time. Support is being provided to the employee's family and to employees affected by this tragic loss.

Arturo Prestamo, executive chairman and chief executive officer of Santacruz, stated: "The loss of a member of our team fills us with profound sorrow. On behalf of the entire organization, we express our condolences and support to the family of our employee during this incredibly difficult time. Nothing is more important than the health and safety of our people. Our priority is to provide the necessary support to their loved ones and, at the same time, advance a thorough investigation to determine the factors that led to this tragic event. We reaffirm our commitment to safety, transparency and the continuous improvement of our operating protocols, with the goal of preventing a similar tragedy from happening again."

The company has well-established safety procedures and training programs in place. Preliminary findings indicate the incident may have involved a deviation from these procedures.

As an immediate precautionary measure, the company suspended activities in the affected area and initiated a comprehensive investigation in co-ordination with the competent authorities and external experts. The investigation will review the circumstances surrounding the incident and identify any additional corrective measures, with a commitment to full transparency and technical rigour.

The health and safety of the company's employees remain its highest priority. The company remains committed to maintaining a safe workplace through rigorous safety standards, training and continuous improvement of its safety systems and practices.

The company will provide further commentary and updates on the investigation as additional information becomes available. The company will also provide an update regarding the resumption of operations at this section of the Reserva mine once the investigations have been completed.

About Santacruz Silver Mining Ltd.

Santacruz Silver is engaged in the operation, acquisition, exploration and development of mineral properties across Latin America.

We seek Safe Harbor.