Santacruz Silver Reports Q3 2026 Production Results Producing 1,500,958 Ounces of Silver and 22,080 Tonnes of Zinc

Arturo Préstamo, Executive Chairman and CEO of Santacruz

“In Q3 2026, our mining operations increased silver production by 2% quarter-over-quarter and by 30% year-over-year. Bolivar continued to be a key driver of our performance, with Bolivar's silver production up 19% quarter-over-quarter to 408,087 ounces as the dewatering process continues and the higher silver grades from Pomabamba and Nane veins are getting back to planned production levels. The recovery plan at Bolivar remains on schedule, with full recovery of the areas affected by the May 2025 flooding expected during Q4 2026. At Zimapan, our recent investments are delivering positive results, with silver recovery improving from 72% to 76% quarter-over-quarter. It's important to clarify that our third quarter's consolidated silver and zinc production volumes, which includes both mining operations and ore processing operations, decreased from the second quarter due to lower head grades of purchased ore from San Lucas which doesn't impact profitability and because we made the strategic decision to allocate mill capacity prioritizing the much higher-margin generating ore from our mining operations over milling third-party purchased ore obtained by the San Lucas ore processing business.”

Arturo Préstamo, Executive Chairman and CEO of Santacruz

“To address these mill capacity constraints, during the quarter we acquired a new 500-tonne-per-day milling facility, the acquisition finalizes at the beginning of Q4 2026 and operations will commence immediately during Q4. This new facility will process San Lucas ore exclusively, freeing up capacity at the three existing Bolivian processing plants to treat ore from our mining operations. This will not only enable San Lucas to expand its third-party ore processing business without competing with our mining operations for milling capacity, but also allow us to accelerate growth across our Bolivian operations. Looking ahead to the next quarter, we expect an increase in consolidated production, supported by the anticipated recovery of the Pomabamba and Nane veins at Bolivar, the commissioning of the new 500-tonne-per-day milling facility, and higher silver head grades expected at Caballo Blanco as mining progresses into higher-grade zones as planned.”