October 28, 2014

Santacruz Silver Files San Felipe Preliminary Economic Assessment Report

Vancouver, BC - Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the "Company" or "Santacruz") announces that further to its news release dated September 11, 2014, it has filed an independent NI 43-101 technical report in respect of a resource estimate and preliminary economic assessment ("PEA") for the Company's San Felipe Project in Sonora State, Mexico. The report is available under the Company's profile on SEDAR at www.sedar.com. The results of the resource estimate and PEA were previously announced in the Company's news release dated September 11, 2014.

The technical report, titled "2014 Mineral Resource Estimate and Preliminary Economic Assessment San Felipe Project, Sonora Mexico," dated effective September 4, 2014, was prepared by Gary Giroux, P.Eng., Gregory Blaylock, P.Eng., P.E. of JDS Energy & Mining Inc., Deepak Malhotra, SME Registered Member, Fletcher Bourke, P.Geo., and Hans Smit, P.Geo, who are all independent of the Company and each of whom is a qualified person, pursuant to the meaning of such terms in NI 43-101.

About Santacruz Silver Mining Ltd.

Santacruz is a Mexican focused silver company with a producing mine (Rosario); two advanced-stage projects (San Felipe and Gavilanes) and an early-stage exploration project (El Gachi). 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 producer.

'signed'

Arturo Préstamo Elizondo,
President, Chief Executive Officer and Director

For further information please contact:

Neil MacRae
Santacruz Silver Mining Ltd.
Email:
Telephone: (604) 569-1609

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.