Santacruz Silver Mining Ltd. — AGM Information 2020

Dec 1, 2020

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880 – 580 Hornby Street, Vancouver, BC V6C 3B6 Telephone: (604) 569-1609 - Fax: (604) 684-0642

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the annual general meeting (the " Meeting ") of the shareholders of Santacruz Silver Mining Ltd. (the " Company ") will be held at 880 – 580 Hornby Street, Vancouver, British Columbia, on Wednesday, December 30, 2020 at 11:00 a.m. (Pacific Time) for the following purposes:

1. to receive the audited financial statements of the Company for the financial year ended December 31, 2019 together with the auditor's report thereon;

2. to fix the number of directors at six (6);

3. to elect directors for the ensuing year;

4. to appoint the auditors for the ensuing year and to authorize the directors to fix their remuneration;

5. to consider and, if thought fit, to pass an ordinary resolution approving and ratifying the Company's currently implemented rolling 10% stock option plan, subject to regulatory approval, as more fully described in the information circular accompanying this notice; and

6. to transact such further or other business as may properly come before the meeting and any adjournments thereof.

The accompanying information circular provides additional information relating to the matters to be dealt with at the Meeting and is deemed to form part of this notice of meeting.

All shareholders are entitled to attend and vote at the Meeting in person or by proxy; however, the board of directors (the "Board") is requesting that due to the current COVID-19 pandemic that all shareholders vote their shares by proxy and not attend in person. Shareholders should read, complete, sign and date the enclosed form of proxy and return the same in the enclosed return envelope provided for that purpose within the time and to the location set out in the form of proxy accompanying this notice.

Shareholders that wish to access the Meeting by teleconference can do so by dialing in to the following numbers: Vancouver: (604) 630- 0213 or Toll Free (Canada and USA): 1 (877) 390-5090 Participant Code: 8717914#. Please note, voting will NOT be permitted over the phone, so you MUST complete the proxy form if you are attending the meeting by teleconference and wish to vote.

Dated this 27[th] day of November, 2020.

BY ORDER OF THE BOARD OF DIRECTORS

"Carlos Alberto Silva Ramos"

Carlos Alberto Silva Ramos, Chief Executive Officer and a Director