Santacruz Silver Mining Ltd Announces Increase to Previous Bought Deal Common Share Financing

Santacruz Silver Mining Ltd announced that, in connection with its previously announced short form offering (the Underwritten Offering) led by Canaccord Genuity Corp. and including Raymond James Ltd. and Cormark Securities Inc. (the Underwriters), it has increased the Underwritten Offering from CAD30,062,500 to CAD35,150,000. The Company has granted the Underwriters an option to purchase up to an additional 15% of the Offering (the Over-Allotment Option), exercisable for a period of up to 30 days after the closing date (the Over-Allotment Option and together with the Underwritten Offering, the Offering), if the Over-Allotment Option is fully exercised, the total gross proceeds from the Offering will be CAD40,422,500. The proceeds from the Offering are expected to be used by the Company for exploration and development of its projects in Mexico, and for general working capital and corporate purposes. Closing of the Offering is anticipated to occur on or before February 19, 2013.