April 18, 2012

Moving Forward on Development and Exploration Programs; $20,000,000 Financing Completed

Not for dissemination in the United States or through U.S. newswires

Vancouver, B.C. - Santacruz Silver Mining Ltd. ("Santacruz" or the "Company") is pleased to announce the completion of its $20,000,000 financing.

We are now in the position to move forward with the Company's plans of bringing the Rosario property into production, and executing our exploration programs at both the Rosario and Gavilanes properties with a view to increase our resources. As well, we will continue our review of the San Felipe project. We anticipate starting commercial production at the Rosario property during the first quarter of 2013.

The Company is also pleased to announce the appointment of Mr. Arturo Prestamo Elizondo as the President of the Company. Mr. Prestamo Elizondo is currently the Chief Executive Officer and a director of the Company.


Arturo Prestamo Elizondo, President, Chief Executive Officer and Director

For further information please contact:

Arturo Prestamo Elizondo, President, Chief Executive Officer and Director
Santacruz Silver Mining Ltd.
Email: aprestamo@santacruzsilver.com
Telephone: 52 (81) 8378-5707

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.

All scientific or technical nature information herein was approved by Harald Hoegberg and Randy Henkle (both of whom are qualified persons as such term is defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Hoegberg and Mr. Henkle are independent consultants for Santacruz Silver Mining Ltd.

Forward looking information

Certain statements contained in this news release, such as proposed use of proceeds and anticipated production dates on the Company's mineral properties, 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 the financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. 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, and delays in regulatory approval, 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 Filing Statement in respect of the Transaction 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.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable securities laws or an exemption from such registration is available.