Santacruz Silver Mining Ltd.: Santacruz Silver Reports Q1 2021 Production of 706,978 Silver Equivalent Ounces 176 85 - 182 61 0.19 72 * In the above tables Ag Eq has been calculated as follows: 2021 Ag Eq was calculated using metal prices of: Ag $25.00/oz, Au $1,925/oz, Pb $0.85/lb, Zn $1.05/lb and Cu $3.00/lb. 2020 Ag Eq was calculated using metal prices of: Ag $17.85/oz, Au $1,480/oz, Pb $0.92/lb, Zn $1.09/lb and Cu $2.80/lb. Silver Equivalent Comparative Production As noted in the tables above, there is a significant reduction in silver equivalent ounces produced in Q1 2021 as compared to that produced in Q1 and Q4 2020. This negative change in production is due in large part to the metal prices used for this calculation in 2021 as compared to 2020. For example, had the Company used the 2020 metal price deck for its silver equivalent production calculation at the Zimapan Mine in Q1 2021, the reported silver equivalent ounces produced would have been 868,750, an increase of 9.1% over the current reported balance. On a comparative basis within any particular fiscal year or between periods in different fiscal years where the metal price decks are relatively equivalent, this computation is useful for comparing production from one period to another. When the price decks are not relatively equivalent, the usefulness of this production indicator is diminished.