Santacruz Silver Announces Filing of Technical Reports
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/31/12 -- Santacruz
Silver Mining Ltd. (TSX VENTURE:SCZ) (the "Company") announces that
it has filed on SEDAR an updated technical report in respect of its
San Felipe Project, titled "Update of NI 43-101 Technical Report on
Resources, San Felipe Project, Sonora, Mexico". The updated report
provides additional information on data verification and sampling. It
is updated as of December 19, 2012, and has an effective date of
April 5, 2012. The resources remain unchanged from the original
report which was announced on July 16, 2012.
The Company also announces that it has filed on SEDAR a technical
report in respect of its Rosario Project, titled "NI 43-101 Technical
Report on Resources, Rosario Project, San Luis Potosi, Mexico". The
Company announced a new resource estimate on its Rosario Project in a
news release dated December 21, 2012, which new resource estimate
precipitated this report. The report is dated December 19, 2012 with
an effective date of December 1, 2012.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with a project in
development (Rosario) and two advanced-stage exploration projects
(San Felipe and Gavilanes). The Rosario Project is expected to reach
production by the end of the first quarter of 2013. 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
Arturo Prestamo Elizondo, President, Chief Executive Officer and
The decision to put the Rosario Project into production was not based
on a feasibility study of mineral reserves demonstrating economic and
technical viability. Accordingly, there is increased uncertainty and
economic and technical risks of failure associated with this
production decision. Production and economic variables may vary
considerably due to the absence of a completed and detailed analysis
as would be included in a feasibility study. The risks associated
with this decision are set forth in the Company's AIF under the
heading "Risk Factors".
Certain statements contained in this news release, such as
anticipated production dates, constitute "forward-looking
information" as such term is used in applicable Canadian securities
laws. Forward-looking information is based on plans, expectations and
estimates of management at the date the information is provided and
is subject to certain factors and assumptions, including that the
Company's financial condition and development plans do not change as
a result of unforeseen events, that the Company obtains regulatory
approval, and that future metal prices and the demand and market
outlook for metals does not deteriorate significantly.
Forward-looking information is subject to a variety of risks and
uncertainties and other factors that could cause plans, estimates and
actual results to vary materially from those projected in such
forward-looking information. Factors that could cause the
forward-looking information in this news release to change or to be
inaccurate include, but are not limited to, the risk that any of the
assumptions referred to prove not to be valid or reliable, that
occurrences such as those referred to above are realized and result
in delays, or cessation in planned work, that the Company's financial
condition and development plans change, delays in regulatory
approval, risks associated with the interpretation of data, the
geology, grade and continuity of mineral deposits, the possibility
that results will not be consistent with the Company's expectations,
as well as the other risks and uncertainties applicable to mineral
exploration and development activities and to the Company as set
forth in the Company's Annual Information Form filed under the
Company's profile at www.sedar.com. The Company undertakes no
obligation to update these forward-looking statements, other than as
required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Santacruz Silver Mining Ltd.
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