Onamine

Silvercrest Mines Inc. (TSXV:SVL)

SilverCrest Main Zone Expansion Drilling

 

SilverCrest Main Zone Expansion Drilling 11.2 metres (36.73 feet) grading 3.47 gpt Gold - 167.1 gpt Silver Santa Elena Project, Mexico

VANCOUVER, B.C. June 5, 2008 - SilverCrest Mines Inc. (the "Company") is pleased to report results for the next series of core holes at its Santa Elena Project located in northern Mexico.

The drill program is currently drilling hole SE08-92. The nine core holes reported below (see attached drill plan for hole locations) are part of the current program to expand the reported NI 43-101 Indicated and Inferred resources (see news release dated January 15, 2008) for the project. The most notable intercepts of this series of holes were encountered in hole SE08-80 which intercepted 11.2 metres (36.73 feet) grading 3.47 gpt gold and 167.1 gpt silver and hole SE08-79 with 15.9 metres (52.15 feet) grading 1.63 gpt gold and 161.0 gpt silver. The detailed results are shown below.

Weighted Average Grades

Drill
Hole

From
(m)

To
(m)

Interval
(m)

Interval
(ft)

Au
gpt

Ag
gpt

Au
gpt equiv*

Ag
gpt equiv*

Note

SE08-79

187.2

203.1

15.9

52.15

1.63

161.0

4.85

242.7

Expansion

  includes

198.1

203.1

5.0

16.40

3.98

449.5

12.97

648.5

Expansion

SE08-80

333.4

344.6

11.2

36.73

3.47

167.1

6.81

340.6

Expansion

  includes

333.4

337.9

4.5

14.76

5.93

175.0

9.43

471.5

Expansion

SE08-81

223.3

225.2

1.9

6.23

8.38

260.0

13.58

679.0

Expansion

SE08-82

264.2

264.9

0.7

2.30

0.14

15.0

0.44

22.0

Expansion

SE08-84

327.2

332.6

5.4

17.71

1.5

78.6

3.07

153.6

Expansion

*Conversions are based on a ratio of 1:50 Au:Ag and assume 100% metal recovery. All numbers are rounded.

Hole SE08-81 and SE08-82 are located in the eastern extension on the Main Zone and represent high level epithermal mineralization in stockwork veining with narrowing higher grade mineralization near the surface. The stockwork zone is approximately 30 metres wide and anomalous in Au, Ag, Ba, and Sb which are generally indicative of the upper portions of an epithermal system. The downward extension of these intercepts is noted in hole SE08-80 which encountered 11.2 metres of 3.47 gpt Au and 167.1 gpt Ag. Hole SE08-83 was lost due to down hole problems and will be re-drilled.

Overall, the results for the expansion drilling continue to show strong, continuous mineralization over significant widths (11 to 16 metres) as drilling moves east and to depth. Average width of the Main Zone in the eastern area is approximately 15 metres which is consistent with the rest of the deposit. Silver grades continue to increase to the east and to depth. The Main Zone still remains open to the east and to depth and will be further tested with the remaining holes of the Phase II drill program.  A new resource estimate is underway with results expected in the second quarter of 2008.

Holes SE08-76, SE08-77 and SE08-78 are considered "wild cat" holes and are outside the area of the current resources of the Main Zone. These holes were completed in the Araña Target area with results showing broad anomalous barium and antimony with only trace gold and silver. The Company believes that the alteration and mineralization in this area is high level epithermal in nature and therefore above the zone of gold and silver mineralization.

Previously unreported hole number SE08-69 showed an intercept of  2.2 metres in the Main Zone at a depth of 415.8 to 418.0 metres grading 1.4% zinc and 34 gpt silver. This intercept suggests that the Main Zone in this area is exhibiting typical epithermal zonation characteristics with increasing base metals and decreasing gold and silver values to depth.

The Company's current NI 43-101 compliant resource is based on 40 drill holes and the on-going drill program is currently drilling hole SE08-92.  Including the holes reported above, the Company has provided results for 84 holes. Detailed results for the drilling, surface and underground sampling related to the resource calculation can be found in numerous press releases filed on SEDAR (sedar.com) or on the Company's web site (www.silvercrestmines.com).

The most recent resource estimate for Santa Elena is shown in the table below:

Santa Elena Silver and Gold Resources

Property

Resource Category¹

Tonnes

Ag
gpt

Au
gpt

Tons

Ag
opt

Au
Opt

Contained Silver Ounces

Contained Gold Ounces

Contained Silver Equiv. Ounces³

Santa Elena²

Indicated

7,378,300

74.20

1.81

8,133,200

2.16

0.053

17,600,900

428,700

43,327,100

 

Inferred

2,608,000

73.06

1.37

2,874,800

2.13

0.040

6,125,700

114,800

13,016,700

1 Conforms to NI 43-101, 43101CP and current CIM definitions for resources. All numbers are rounded. Measured resources included in Indicated. 2 Cutoff grade is 30 gpt Ag equivalent (0.5 gpt Au equivalent). 3 Conversion of gold to silver based on 60:1 silver to gold ratio, assumes 100% metal recovery.

All samples were analyzed at ALS-Chemex Labs in Hermosillo, Mexico and North Vancouver, BC, Canada. N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc. and  Qualified Person for this news release has reviewed and approved its contents.

The Santa Elena Project is located approximately 150 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company has the right to acquire a 100% interest in the property.

SilverCrest Mines Inc. is a "Silver Focused" exploration and development company with a portfolio of high grade silver deposits and exploration properties located in Mexico and El Salvador. This property portfolio, which includes reported indicated and inferred silver resources and substantial exploration potential, provides an important base from which SilverCrest can develop its corporate objective of becoming a significant silver asset based company. The Company's immediate initiative is to acquire and develop substantial silver resources and ultimately to operate high grade silver mines throughout North, Central and South America.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control.  These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

On Behalf of SilverCrest Mines Inc.

"J. Scott Drever"

J. Scott Drever, President


SilverCrest Mines Inc. Adopts Shareholder Rights Plan

 

TSX-V: SVL For Immediate Release

VANCOUVER, British Columbia - May 22, 2008 - SilverCrest Mines Inc. ("SilverCrest" or the "Company") announces that its Board of Directors has adopted a shareholder rights plan (the "Rights Plan").  The Rights Plan, which took effect May 21, 2008, has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the Company's common shares.

The Rights Plan is not intended to prevent take-over bids that treat shareholders fairly.  Bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be ‘Permitted Bids' under the Rights Plan.  Permitted Bids are offers to acquire common shares of the Company made by way of take-over bid circular and which must, among other requirements described in the Rights Plan, remain open for at least 60 days.

SilverCrest is not adopting the Rights Plan in response to, or in anticipation of, any specific take-over bid or proposal to acquire control of the Company.  The Rights Plan is similar to plans adopted by other Canadian companies.  The full text of the Rights Plan will be available on the SEDAR website at www.sedar.com.

The Rights Plan is subject to acceptance by the TSX Venture Exchange and to ratification by the Company's shareholders at the next meeting of shareholders.  If ratified by shareholders, the Rights Plan will expire at the termination of the Company's annual general meeting in 2011, unless extended upon reconfirmation by shareholders at that meeting. Subsequently, the Rights Plan must be reconfirmed by shareholders at every third annual general meeting of the Company thereafter.

SilverCrest Mines Inc. is a "Silver Focused" exploration and development company with a portfolio of high grade silver deposits and exploration properties located in Mexico and El Salvador. This property portfolio, which includes reported indicated and inferred silver resources and substantial exploration potential, provides an important base from which SilverCrest can develop its corporate objective of becoming a significant silver asset based company. The Company's immediate initiative is to acquire and develop substantial silver resources and ultimately to operate high grade silver mines throughout North, Central and South America.

SilverCrest Mines Inc.

"J. Scott Drever"

J. Scott Drever, President


SilverCrest Submits Environmental Impact Assessment; Receives Land Use Change Approval for Santa Elena Project, Mexico

 

VANCOUVER, B.C. May 21, 2008 – SilverCrest Mines Inc. (the “Company”) reports that it has reached several important milestones in advancing the Santa Elena project to production.  Those important achievements are:

  • Environmental Impact Assessment submitted April 28, 2008. Official review period is 90 business days.
  • Pre-Feasibility Study in final review by independent QP’s. Results expected over the next several weeks.
  • Land Use Change authorization granted April, 2008.

The Company has submitted its Environmental Impact Assessment / Manifestacion de Impacto Ambiental (MIA) for the Santa Elena project in Sonora Mexico. The MIA was officially submitted on April 28, 2008 to the Secretaria de Medio Ambiente y Recursos Naturales of Mexico (SEMARNAT) for review and is the principal document in the application process for a mine operating permit. The official review period for the MIA is 90 business days during which requests for additional information may be made by SEMARNAT.

Over the past 12 months, the Company has been systematically completing a Pre-Feasibility Study and the MIA with the expectation of submitting an application for mining operations. The Pre-Feasibility Study is currently undergoing final review by independent Qualified Persons and will result in the re-estimation of resources and the conversion of approximately 70%-80% of the current Indicated Resources to Probable

Reserves which will include a Proven Reserve component. Completion of this review will also enable the Company to present the full set of financial and operating parameters used to determine the economic viability of the project.

J. Scott Drever, President stated; “The submittal of the Environmental Impact Assessment is obviously an important milestone in our drive to move this project to production. We believe we have produced an exceptionally complete document that should receive approval within the official review period. We are also looking forward to being able to disclose the results of our Pre-Feasibility Study in the next couple of weeks and are confident that it will support our internal studies that show the Santa Elena project to be extremely robust at current precious metal prices. We expect to begin committing to equipment and plant purchases in the next few weeks to maintain the planned time line for full production in the first half of 2009.”

The Company submitted an application for a Land Use Change authorization to re-classify the mine site area usage from forestry to mining. The application was submitted by the Company to SEMARNAT in January, 2008. The authorization was granted in April, 2008 and can be activated by paying the prescribed fee. Payment of this fee will be made in conjunction with the receipt of approval of the MIA.
The Santa Elena Project is located approximately 150 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company has the right to acquire a 100% interest in the property.

N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc. and  Qualified Person for this news release has reviewed and approved its contents.

SilverCrest Mines Inc. is a “Silver Focused” exploration and development company with a portfolio of high grade silver deposits and exploration properties located in Mexico and El Salvador. This property portfolio, which includes reported indicated and inferred silver resources and substantial exploration potential, provides an important base from which SilverCrest can develop its corporate objective of becoming a significant silver asset based company. The Company’s immediate initiative is to acquire and develop substantial silver resources and ultimately to operate high grade silver mines throughout North, Central and South America.

This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company’s actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company’s control.  These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made.  The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.


SilverCrest Mines Inc. Adopts Shareholder Rights Plan

 

VANCOUVER, British Columbia - May 22, 2008 – SilverCrest Mines Inc. (“SilverCrest” or the “Company”) announces that its Board of Directors has adopted a shareholder rights plan (the “Rights Plan”).  The Rights Plan, which took effect May 21, 2008, has been adopted to ensure the fair treatment of shareholders in the event of any take-over offer for the Company’s common shares.
The Rights Plan is not intended to prevent take-over bids that treat shareholders fairly.  Bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be ‘Permitted Bids’ under the Rights Plan.  Permitted Bids are offers to acquire common shares of the Company made by way of take-over bid circular and which must, among other requirements described in the Rights Plan, remain open for at least 60 days.

SilverCrest is not adopting the Rights Plan in response to, or in anticipation of, any specific take-over bid or proposal to acquire control of the Company.  The Rights Plan is similar to plans adopted by other Canadian companies.  The full text of the Rights Plan will be available on the SEDAR website at www.sedar.com.

The Rights Plan is subject to acceptance by the TSX Venture Exchange and to ratification by the Company’s shareholders at the next meeting of shareholders.  If ratified by shareholders, the Rights Plan will expire at the termination of the Company’s annual general meeting in 2011, unless extended upon reconfirmation by shareholders at that meeting. Subsequently, the Rights Plan must be reconfirmed by shareholders at every third annual general meeting of the Company thereafter.
SilverCrest Mines Inc. is a “Silver Focused” exploration and development company with a portfolio of high grade silver deposits and exploration properties located in Mexico and El Salvador. This property portfolio, which includes reported indicated and inferred silver resources and substantial exploration potential, provides an important base from which SilverCrest can develop its corporate objective of becoming a significant silver asset based company. The Company’s immediate initiative is to acquire and develop substantial silver resources and ultimately to operate high grade silver mines throughout North, Central and South America.


SilverCrest Continues to Expand Main Zone at Santa Elena, Mexico

 

VANCOUVER, B.C. April 8, 2008 – SilverCrest Mines Inc. (the “Company”) is pleased to report results for the next series of core holes of an “expanded” Phase II  drill program at its Santa Elena Project located in northern Mexico.  The Santa Elena Project is located approximately 150 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company has the right to acquire a 100% interest in the property.

The most notable intercepts of this series of holes were encountered in SE08-70, which intercepted 21 metres (68.88 feet) grading 1.41 gpt gold and 109.53 gpt silver and in SE08-75, which intercepted 11.4 metres (37.39 feet) grading 2.83 gpt gold and 150.15 gpt silver. Overall, the results for expansion drilling continue to show strong, continuous gold and silver values over widths of 11 to 21 metres as drilling moves east and to depth. Average width of the Main Zone in the eastern area is approximately 15 metres and is similar to the rest of the deposit. The Main Zone has been traced on surface for approximately 1300 metres and has been encountered in drill holes to a vertical depth of more than 500 metres.

The Company’s current NI 43-101 compliant resource is based on 40 drill holes and the on-going drill program is currently drilling hole SE08–81.  Including the holes reported below, the Company has provided results for 75 holes. The 16 core holes reported below (see attached drill plan for hole locations) are part of the current program to in-fill and expand the recently reported NI 43-101 Indicated and Inferred Resources (see news release dated November 15, 2007) for the project. The detailed results are shown below:

Santa Elena Main Zone

Weighted Average Grades

Drill
Hole

From
(m)

To
(m)

Interval
(m)

Interval
(ft)

Au
gpt

Ag
gpt

Au
gpt equiv*

Ag
gpt equiv*

Note


SE07-59

38.8

40

1.2

7.51

1.91

15.9

2,22

111.4

In-fill

SE07-60

25.5

37.5

12.0

39.36

0.73

22.45

1.18

59.35

In-fill

SE07-61

47.3

54.7

7.4

24.37

0.22

15.18

0.52

26.40

In-fill

SE07-62

85.0

106.0

21.0

68.88

1.71

83.62

3.38

169.23

Expansion

includes

88.0

100.0

12.0

39.36

2.68

129.10

5.26

263.47

Expansion

includes

91.0

100.0

9.0

29.52

3.23

147.86

6.18

309.36

Expansion

SE07-64

55.5

61.4

5.9

19.35

0.41

26.18

0.93

46.79

Expansion

SE07-65

167.0

179.0

12.0

39.36

1.37

108.07

3.53

176.90

Expansion

SE08-68

308.4

329

20.6

67.37

0.26

23.23

0.72

36.23

Expansion

SE08-70

257.0

278.0

21.0

68.88

1.41

109.53

3.60

180.17

Expansion

includes

274.2

278.0

3.8

12.46

5.16

342.72

12.02

601.00

Expansion

SE08-72

263.9

284.6

20.7

67.89

1.08

123.15

3.54

177.25

Expansion

includes

263.9

276.9

13.0

42.64

1.51

180.33

5.11

255.88

Expansion

SE08-73

226.3

240.6

14.3

46.90

1.60

151.74

4.63

231.79

Expansion

includes

226.3

230.0

3.7

12.13

3.25

390.00

11.05

552.50

Expansion

SE08-75

202.4

213.8

11.4

37.39

2.83

150.15

5.84

292.15

Expansion

includes

209.4

213.8

4.34

14.23

5.12

294.66

11.01

550.85

Expansion

*Conversions are based on a ratio of 1:50 Au:Ag and assume 100% metal recovery. All numbers are rounded.

Holes SE07-62 through SE08-75 are considered “expansion” holes and are outside the boundaries of the curr