VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 10, 2014) - Santacruz Silver Mining Ltd. (TSX VENTURE:SCZ) ("Santacruz" or the "Company") is pleased to announce that Mr. Federico Villaseñor was appointed to the Company's Board of Directors joining Messrs. Arturo Prestamo Elizondo, Francisco Ramos Sánchez, James Hutton, Craig Angus and Marc Prefontaine.
Mr. Villaseñor graduated with a B.Sc. in Mining and Metallurgy from the University of Guanajuato, a M.S. of Mineral Economics from Columbia University and a Finance Degree from The Instituto Tecnológico Autónomo de Mexico. He has had a career that spans 40 years in the mining industry, including roles with Peñoles, Grupo Mexico, Goldcorp and as Director of Starcore International Mines Ltd. He has also participated as a Member of The Board in The Mexican Mining Chamber over several periods.
In his most recent role Mr. Villaseñor served as Business Development Director for Goldcorp México. During this time, he was closely involved in several M&A transactions including the acquisition of the Tayoltita mine by Primero Mining Corp., which is situated in close proximity to the Company's Gavilanes property in San Dimas, Durango, Mexico.
President, Arturo Préstamo states "We are extremely pleased to welcome Mr. Villaseñor to the Board and we will rely on his knowledge and expertise to assist us in advancing Santacruz into a mid-tier silver producer. Mr. Villaseñor has a long history in Mexico of being a key contributor in building solid companies and we welcome his participation on our Board."
In connection with his appointment, the Company has authorized the grant of 400,000 stock options to Mr. Villaseñor at a price of $1.00 per share. These options are exercisable for a five-year period.
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with a producing project (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.
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 the Company's corporate objectives and planned production levels, 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.