Mr. Arturo Prestamo reports

SANTACRUZ SILVER ANNOUNCES PAYMENT TO GLENCORE OF US$7.5-milliON UNDER ACCELERATION PLAN

Santacruz Silver Mining Ltd. has made the third payment of $7.5-million (U.S.) to Glencore as part of the company's previously announced plan to exercise its acceleration option and satisfy the base purchase price related to the Bolivian assets acquisition.

This third payment of $7.5-million follows the initial US$10-million payment made on March 20, 2025, and the second payment of $7.5-million (U.S.) completed thereafter. It is part of a structured payment plan totalling $40-million (U.S.) to be completed by Oct. 31, 2025. The plan is expected to generate $40-million (U.S.) in savings and underscores the company's commitment to financial discipline and long-term value creation.

Arturo Prestamo, executive chairman and chief executive officer of Santacruz, commented: "We are pleased to continue delivering on this strategic plan, which reflects our disciplined financial approach. This third payment to Glencore highlights our ability to meet our obligations while preserving a strong balance sheet and liquidity position. With $15-million [U.S.] remaining under the payment plan, we remain committed to generating long-term shareholder value through prudent capital management and operational excellence." Mr. Prestamo added: "We extend our sincere thanks to Glencore for their continued support and collaborative spirit throughout this process. Our strong relationship with Glencore remains a key asset as we advance our strategic priorities in Bolivia and beyond."

Please refer to the company's Oct. 3, 2024, March 20, 2025, and May 6. 2025, news releases for details on the payment structure for the Bolivian assets acquisition.

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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