VANCOUVER, BC, Aug. 21, 2025 /CNW/ - Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTCQX: SCZMF) (FSE: 1SZ) ("Santacruz" or the "Company") reports its financial and operating results for the quarter ended June 30, 2025 ("Q2 2025"). The full version of the unaudited Q2 2025 financial statements ("Financial Statements") and accompanying Management's Discussion and Analysis (the "MD&A") can be viewed on the Company's website at www.santacruzsilver.com or on SEDAR+ at www.sedarplus.ca. All amounts are expressed in U.S. dollars, unless otherwise stated.

Q2 2025 Highlights

   -- Revenues of $73.3 million, a 4% increase year-over-year. 
 
   -- Gross Profit of $25.3 million, a 59% increase year-over-year. 
 
   -- Net Income of $21.0 million, a 1,348% increase year-over-year. 
 
   -- Adjusted EBITDA of $26.8 million, a 68% increase year-over-year. 
 
   -- Cash and short- and long-term investments of $57.8 million, a 691% 
      increase year-over-year. 
 
   -- Working Capital of $60.3 million, a 303% increase year-over-year. 
 
   -- Cash cost per silver equivalent ounce sold ($/oz) of $19.48, a 10% 
      decrease year-over-year. 
 
   -- AISC per silver equivalent ounce sold of $22.95, a 8% decrease 
      year-over-year. 
 
   -- Silver Equivalent Ounces produced of 3,547,054, a 15% decrease 
      year-over-year1. 
 
_____________________ 
1. The Full Q2 2025 production results were released 
 in a news release dated July 29, 2025. 
 

Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented: "Our second quarter results reflect the strength and stability of Santacruz's business model. We achieved solid revenue growth and significantly improved profitability, with net income and adjusted EBITDA both showing substantial gains. At the same time, we strengthened our balance sheet, ending the quarter with nearly $58 million in liquidity, which includes $40 million in cash and investments of $17.8 million. This strong position is after paying Glencore an additional $7.5 million under the acceleration payment plan while also achieving a 303% increase in working capital and lowering our costs year-over-year this quarter."

Mr. Préstamo continued, "Whilst we faced challenges at our Bolivar mine that temporarily halted mining at the high-grade Pomabamba and Nane veins, our San Lucas ore sourcing business helped offset part of the impact. Remediation efforts are underway, and we expect production at Bolivar to normalize by Q4 2025. Our second quarter results highlight the resilience of our operations and our commitment to delivering value. We remain focused on operational efficiency, balance sheet strength, and sustainable long-term growth."

Selected consolidated financial and operating information for Q2 2025, Q1 2025 and Q2 2024 is presented below. All financial information is prepared in accordance with International Financial Reporting Standards ("IFRS"), and all dollar amounts are expressed in thousands of US dollars, except per unit amounts, unless otherwise noted.

 
2025 Second Quarter Highlights 
 
 
                   2025 Q2    2025 Q1    ChangeQ2  2024        Change'25  2025 YTD   2024         Change'25 
                                         vs Q1     Q2Restated  Q2vs '24              YTDRestated  YTD 
                                                               Q2                                 vs '24 
                                                   (6)                               (6)          YTD 
Operational 
Material 
 Processed 
 (tonnes milled)     480,863    471,773       2 %     500,755      (4 %)    952,637      971,503      (2 %) 
Silver Equivalent 
 Produced 
 (ounces) (1)      3,547,054  3,688,129     (4 %)   4,166,364     (15 %)  7,235,184    8,042,752     (10 %) 
Silver Ounces 
 Produced          1,423,081  1,590,063    (11 %)   1,671,359     (15 %)  3,013,144    3,253,308      (7 %) 
Zinc Tonnes 
 Produced             21,148     20,719       2 %      25,052     (16 %)     41,868       47,899     (13 %) 
Lead Tonnes 
 Produced              2,773      2,718       2 %       2,908      (5 %)      5,492        5,861      (6 %) 
Copper Tonnes 
 Produced                229        279    (18 %)         284     (19 %)        507          539      (6 %) 
Silver Equivalent 
 Sold (payable 
 ounces) (2)       2,993,136  3,059,556     (2 %)   3,402,139     (12 %)  6,052,692    7,035,077     (14 %) 
Cash Cost of 
 Production per 
 Tonne (3)             81.95      73.22      12 %       95.11     (14 %)      77.63        94.18     (18 %) 
Cash Cost per 
 Silver 
 Equivalent Ounce 
 Sold 
 ($/oz) (3)            19.48      17.84       9 %       21.66     (10 %)      18.65        21.42     (13 %) 
All-in Sustaining 
 Cash Cost per 
 Silver 
 Equivalent Ounce 
 Sold ($/oz) (3)       22.95      22.34       3 %       24.91      (8 %)      22.64        24.58      (8 %) 
Average Realized 
 Price per Ounce 
 of Silver 
 Equivalent Sold 
 ($/oz) (2) (3) 
 (4)                   32.37      31.85       2 %       30.40        6 %      32.10        26.67       20 % 
Financial 
Revenues              73,295     70,314       4 %      70,485        4 %    143,609      123,074       17 % 
Gross Profit          25,288     27,859     (9 %)      15,856       59 %     53,147       16,255      227 % 
Net Income            20,977      9,451     122 %       1,449     1348 %     30,428      134,108     (77 %) 
Net Earnings) Per 
 Share - Basic 
 ($/share)              0.06       0.03     100 %        0.00        0 %       0.09         0.38     (76 %) 
Adjusted EBITDA 
 (3)                  26,770     27,516     (3 %)      15,971       68 %     54,286       14,662      270 % 
Cash and Cash 
 Equivalent           39,997     32,527      23 %       7,308      447 %     39,997        7,308      447 % 
Working Capital       60,295     51,733      17 %      14,976      303 %     60,295       14,976      303 % 
 
 
Year to Date Production Summary -- By Mine 
 
 
                    Bolivar    Porco    Caballo    San Lucas  Zimapán  Total 
                    (5)        (5)       Blanco     Group 
                                         Group 
Material Processed 
 (tonnes milled)      117,159   96,653    109,421    181,669       447,735    952,637 
Silver Equivalent 
 Produced (ounces) 
 (1)                1,387,815  728,364  1,344,687  1,798,971     1,975,347  7,235,184 
Silver Ounces 
 Produced             725,507  226,438    608,052    614,655       838,492  3,013,144 
Zinc Tonnes 
 Produced               7,208    5,460      7,523     12,658         9,019     41,868 
Lead Tonnes 
 Produced                 383      293      1,082        990         2,744      5,492 
Copper Tonnes 
 Produced                 N/A      N/A        N/A        N/A           507        507 
Average head 
grades per mine: 
 Silver (g/t)             215       88        184        123            79        117 
 Zinc (%)                6.77     6.01       7.30       7.73          2.59       4.97 
 Lead (%)                0.46     0.44       1.19       0.87          0.76       0.76 
 Copper (%)               N/A      N/A        N/A        N/A          0.24       0.24 
Metal recovery per 
mine: 
 Silver (%)                90       83         94         85            74         81 
 Zinc (%)                  91       94         94         90            78         85 
 Lead (%)                  71       69         83         62            81         75 
 Copper (%)               N/A      N/A        N/A        N/A            47         47 
Silver Equivalent 
 Sold (payable 
 ounces) (2)        1,323,546  607,992  1,112,662  1,386,735     1,621,757  6,052,692 
 
 
Notes for both tables above: 
(1)  Silver Equivalent Produced (ounces) for Q2 2025 have 
      been calculated using prices of $31.41/oz, $2,775.53/t, 
      $2,085.90/t and $9,762.69/t for silver, zinc, lead 
      and copper respectively applied to the metal production 
      divided by the silver price as stated here. 
(2)  Silver Equivalent Sold (payable ounces) have been 
      calculated using the Average Realized Price per Ounce 
      of Silver Equivalent Sold stated in the table above, 
      applied to the payable metal content of the concentrates 
      sold from Bolivar, Porco, the Caballo Blanco Group, 
      San Lucas Group and Zimapán. 
(3)  The Company reports non-GAAP measures, which include 
      Cash Cost of Production per Tonne, Cash Cost per Silver 
      Equivalent Ounce Sold, All-in Sustaining Cash Cost 
      per Silver Equivalent Ounce Sold, Average Realized 
      Price per Ounce of Silver Equivalent Sold, and Adjusted 
      EBITDA. These measures are widely used in the mining 
      industry as a benchmark for performance but do not 
      have a standardized meaning and may differ from methods 
      used by other companies with similar descriptions. 
      See "Non-GAAP Measures" section below for definitions. 
(4)  Average Realized Price per Ounce of Silver Equivalent 
      Sold is prior to all treatment, smelting and refining 
      charges. 
(5)  Bolivar and Porco are presented at 100% whereas the 
      Company records 45% of revenues and expenses in its 
      consolidated financial statements. 
 

Production Results

In the six months ended 2025, the Company processed 952,637 tonnes of ore, producing 7,235,184 silver equivalent ounces. This total includes 3,013,144 ounces of silver and 41,868 tonnes of zinc. Full Q2 2025 production results were released in a news release dated July 29, 2025.

Q2 2025 vs Q1 2025

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