Santacruz silver releases resource estimate for panuco deposit – 16.3 million silver equivalent ounces – junior mining network

Santacruz Silver Mining Ltd. Trade accounts receivable definition ( TSX.V: SCZ) (the “Company” or “Santacruz”) announces the results of its resource estimate for the Panuco silver deposit located in Zacatecas, Mexico. Trade deal definition The Panuco deposit is situated within Santacruz’s Veta Grande project area and is located approximately five kilometers north of the Company’s Veta Grande Mine and mineral processing facility. Definition of international trade by different authors The deposit is accessed by paved road and is characterized by modest relief at an average elevation of 2300 meters above mean sea level. Informal trade barriers definition The Veta Grande project consists of 184 mining concessions covering an area of 8,944 hectares (22,101 acres) in the Zacatecas Mining District, Mexico.

The Veta Grande project is divided into two concession groups, described as the Veta Grande properties, and the Zacatecas properties (collectively ” Veta Grande project”). Trade deficit definition The Panuco deposit is situated within the northwest quadrant of the Zacatecas properties and centered on concession title 233300 ( Panuco). Wholesale trade definition The property is subject to the Company’s completion of a purchase contract for US$1.5M with Minera Cordilleras (subsidiary of Golden Minerals Company see press release dated May 4, 2016). External trade definition The previous operator was Minera Cordilleras.

• Panuco resource sits outside of currently mined areas of the Veta Grande and La Cantera vein systems and is the first indication of mineral resource growth potential in the Veta Grande project area;

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. Trade definition economics The mineral resource estimate encompasses all three vein structures and includes mineralization defined by trenching and drilling over a strike distance of 2.4 km.

The resource estimate was conducted on the analytical database generated from 1,869 chip samples from 183 surface trenches and 2,607 core samples from 75-drill holes totaling 23,444 meters.


Direct trade definition The surface channel samples and core drilling were completed by Minera Cordilleras between 2009 and 2011, inclusive. What is trade agreement definition The resource estimate was carried out according to National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum standards by Gary Giroux, P.Eng. Definition for trademark of Giroux Consultants, a professional engineer and qualified person. Definition international trade The effective date of the resource estimate is October 5, 2016.

Arturo Préstamo, President and CEO, remarked, “We are very pleased with the results of the first resource estimate to come out of our land package in the Zacatecas Mining District. Trade price definition We believe the Panuco resource estimate is just the first indication of the significant potential that exists in this region. Definition of trade show Further work aimed at expanding the resources in the area will occur in conjunction with production at the Veta Grande Mine.”

Three dimensional solids were built from cross sections to constrain the three mineralized veins, namely the Panuco Central vein, the Panuco NW vein and the Tres Cruces vein. What is local trade definition A block model with blocks 20 m along strike, 5 m across strike and 5 m in the vertical was superimposed over the mineralized solids. International trade definition Grades for gold, silver, lead and zinc were interpolated into blocks containing some percentage of veins by Ordinary Kriging. Balance trade definition Each vein was estimated separately using only composites from that vein. Trade work definition Due to the sparsity of drill hole data both drill hole and surface trench composites were used. Trade publishing definition Capping of assay data was applied. Trade imbalances definition An average specific gravity of 2.74 was applied to the vein portions of blocks while a value of 2.68 was assigned to the waste portions.

The density of the data for all three veins and insufficient data to establish semivariograms for the Panuco NW and Tres Cruces veins has led to classifying all estimated blocks as Inferred. Trade finance definition The tables below summarize results of the resource estimate and provide a range over various cut-off grades:

An economic study or similar study has not been completed for the Panuco deposit and an economic cut-off value is unknown. Trade in goods definition The authors are of the opinion that based on the mineralization characteristics, grade, location and other factors described in this report the Panuco deposit has similarities to the Veta Grande vein system, which is located five km south of the Panuco deposit. Trade publications definition The Veta Grande Mine is currently operating at a cut-off value of 100 g/t Ag. Concept of international trade definition Metallurgy has not been completed at this stage for the Panuco deposit. Trade job definition Recoveries are based on actual recoveries from the Veta Grande mineral processing facility which is currently processing material from the nearby Veta Grande and La Cantara vein systems.

Van Phu Bui, P.Geo. Definition of free trade in economics of ARC Geoscience Group(“ARC”) conducted a site visit to the Panuco deposit on August 16th to 18th, 2016. Simple explanation of fair trade Mineralized drill core intersections, specific gravity, drill hole collar locations, drill hole database and assays, geological mapping and historical surface workings, and surface sampling in trench and outcrop were independently verified against digital data supplied by Santacruz. Trade payable definition Gary Giroux, P.Eng. The definition of trade winds of Giroux Consultants has not visited the Panuco deposit but has relied on the geological data and information verified by ARC.

Half-core samples and chip samples from surface trenches were submitted to ALS Chemex in Zacatecas, Mexico, and were assayed at ALS Chemex in Vancouver, Canada. Trade marketing definition ALS Chemex, now ALS Mineral, is an ISO accredited and certified laboratory service. Trade out definition All samples were prepared by crushing 70% to <2 mm (CRU-31). Trade off economics definition The fines are rifle split and further pulverized 85% to <75 microns (PUL-31). Free trade economics definition Pulps were then analyzed by 33 element four acid ICP-AES (0.25 g by ME-ICP61) and fire assay with an AA finish for gold (50g by Au-AA24). Trade and industry definition Samples with gold results above 10 g/t using Au-AA24 were rerun using fire assay with a gravimetric finish (50g by Au-GRA22). What is trade finance definition Samples with silver above 100 g/t using ME-ICP61 were rerun using fire assay with gravimetric finish (30g by Ag-GRA21). Barriers to trade definition Over-limit for copper, lead and zinc using ME-ICP61 were rerun by an aqua regia digestion with an ICP-AES finish (ME-OG62).

All technical information included in this statement has been reviewed and approved by Van Phu Bui, P.Geo. Trade investment means of ARC Geoscience Group and Gary Giroux, P.Eng. Definition of domestic trade of Giroux Consultants ltd.,who are both independent of the Company and each of which is a qualified person, pursuant to the meaning of such terms in NI 43-101.

Santacruz is a Mexican focused silver company with two producing silver mines ( Rosario and Veta Grande); an advanced-stage project ( San Felipe) and three exploration properties including the Gavilanes property, El Gachi property, and Zacatecas properties. Definition of terms of trade The Company is managed by a technical team of professionals with proven track records in developing, operating and discovering silver mines in Mexico. Fair trade definition ap human geography Our corporate objective is to become a mid-tier silver producer.

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