TSX.V: SCZ
VANCOUVER, Dec. 19, 2014 /CNW/ - Santacruz Silver
Mining Ltd. (TSX.V:SCZ) (the "Company" or "Santacruz")
announces that Mr. James Hutton has
resigned as a Director with the Company. Mr. Hutton has been with
Santacruz since it completed its first public share offering in
2012. The Company is conducting a search for a replacement director
which it expects to complete in early 2015.
"We are very appreciative of Mr. Hutton's contribution over the
past years and we wish him all the very best into the future," said
Arturo Prestamo, President and CEO
of the Company "James offered valuable counsel during his Board
tenure and he will not be easily replaced."
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
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.
Forward looking information
Certain statements contained in this news release, such as
planned production levels and costs, 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, future metal prices and the demand and market
outlook for metals. 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. There can be no assurance that any
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader should not
place any undue reliance on forward-looking information or
statements. The Company undertakes no obligation to update
forward-looking information or statements, other than as required
by applicable law.
Financial outlook information contained herein about the
Company's prospective cash flows and financial position is based on
assumptions about future events, as described above, based on
management's assessment of the relevant information currently
available. The purpose of such financial outlook is to provide
information about management's current expectations as to the
anticipated results of its proposed business activities for the
coming quarters. Readers are cautioned that any such financial
outlook information contained herein should not be used for
purposes other than for which it is disclosed herein.
Rosario Mine
The decision to commence production at the Rosario Mine was
not based on a feasibility study of mineral reserves demonstrating
economic and technical viability, but rather on a more preliminary
estimate of inferred mineral resources. 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 complete
and detailed site analysis according to and in accordance with NI
43-101.
SOURCE SantaCruz Silver Mining Ltd.