Silvercrest Mines Inc. (TSXV:SVL)

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.

Final May 21 08 Mia Submittal · 33.04 KB

SilverCrest Updates Progress at the Santa Elena Project, Mexico-Preliminary Feasibility Study Nearing Completion

2008-02-21 16:27 Silvercrest Mines Inc. Edit santa elena project in sonora · mexico · hermosillo · fred cooper · silver · silvercrest mines inc. · silvercrest · scott drever

VANCOUVER, BRITISH COLUMBIA--(Feb. 21, 2008) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL) is pleased to announce that all phases of work on the Company's Preliminary Feasibility Study at the Santa Elena Project are near completion. 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 Santa Elena property.

The principal activities related to the Preliminary Feasibility Study (PFS) that are either completed or near completion are as follows:

- An up-dated NI 43-101 resource estimation was filed in January (see press release dated January 15, 2008). This new resource was based on the results of 40 drill holes and considerable underground sampling and is the basis for reserve estimation in the PFS. The results of the new estimate increased indicated gold ounces by 150% and indicated silver ounces by 300%. As a result of the up-grading of the resource categories from inferred to indicated resources, the contained gold ounces in the inferred category were reduced by 28% and silver ounces were reduced by 30%. However, the combined silver equivalent resources for the Main Zone have increased by 70% overall (see resource table below).

- Essentially all data required for the PFS has been collected and compiled and is under final review by qualified persons before release. The most significant elements that are being finalized and confirmed are as follows:

- Extensive column-percolation testing from representative bulk samples of the deposit shows gold recoveries of 65% to 70% and silver recoveries of 33% to 37% over a 90 day period. Consumption of both cyanide and lime are low which should be reflected in a low cost per tonne for processing. Leach time is considered good with over 50% of the recoverable metals retrieved within 20 days. The results of these tests confirm that the deposit is amenable to heap leaching. All metallurgical test work was completed by SGS Group's certified lab in Durango, Mexico.

- Optimization of open pit computer modeling carried out by independent consultants has conceptualized a low cost open pit heap leach operation that will convert 80% to 90% of the current indicated resources to proven and probable reserves.

- General site plans, detailed mine plans and facility drawings have been completed by Sol Y Adobe Ingenieros Asociados S.A. de C.V. Quotes from operators and equipment suppliers have been obtained for mining costs and major equipment. Economic models have been developed and project sensitivities have been run.

- Environmental baseline work has been completed by an independent Mexican environmental consultant and has not identified any significant deterrents to the development of the project. Permitting is on-going with the submission of an application for operations to the Mexican government anticipated during this quarter.

- A Land Occupation Agreement was signed in November, 2007 with the communal land owners of the project area. This agreement provides access rights to the area for exploration, development and exploitation over a 20 year lease period. Strong community support exists and further discussions are underway regarding project water supplies, access roads, employment, and community services.

- An EPCM contract (engineering, procurement, construction, management) for the project is being negotiated.

- A Land Use Change Permit application has been submitted to the federal government for approval anticipated during this quarter.

- A full Environmental Impact Study and Risk Analysis are near completion and are expected to be submitted to the governmental authorities in March, 2008. This submission is the second stage for approval for a mine operating permit and usually requires 4 to 6 months for government review and approval.

In addition to the work related to the Preliminary Feasibility Study the Company has two core rigs operating to continue expanding the known resources of the Main zone and to begin testing newly defined adjacent exploration targets. The drill program is currently drilling hole SE08-71. Results of 10 additional holes are yet to be reported in the near future. Conclusions and inferences from the continued exploration work are as follows:

- Gold and silver mineralization of the Main Zone is drill-defined and relatively consistent over a minimum distance of approximately 1,000 metres with an average width of 15 metres and extends to a depth of more than 500 metres down dip. The surface trace of the Main Zone is now approximately 1,300 metres.

- A high grade zone (greater than 50 gram-metres/tonne gold equivalent or 3000 gram-metres silver equivalent) within the broader Main Zone mineralization has been identified that is at least 800 metres long, approximately 150 metres in height and averages approximately 25 metres wide in recent intercepts (to view attached long section please click on the following link: http://media3.marketwire.com/docs/0221svl.pdf).

- Resources are currently being defined in the Main Zone that may be amenable to underground mining. This would potentially enable the proposed open pit heap leach operation to transition into an underground mining operation utilizing a conventional mill.

- Reconnaissance work and geophysical surveys have defined several nearby exploration targets that have excellent potential to discover mineralized zones similar to the Main Zone.

Exploration drilling continues with the addition of another core drill supplied by Intercore Perforaconies S.A. de C.V. The addition of a reverse circulation (RC) drill is anticipated for March, 2008. A budget for 2008 drilling has been proposed for approximately 4,000 metres of core and 6,000 metres of RC. The ongoing expanded Phase II drill program is expected to expand the current resource estimate to the east, to depth, and further test the Footwall Zone. A revised independent resource and reserve estimation is anticipated for the second quarter of 2008 which should include the results of an additional 35 to 40 drill holes.

--------------------------------------------------------------------------- Contained Contained Contained Ounces Ounces Ounces Classification Tonnes g/t Au g/t Ag Au Ag Equiv. Ag --------------------------------------------------------------------------- Indicated 7,378,300 1.81 74.20 428,700 17,600,900 43,327,100 Inferred 2,608,000 1.37 73.06 114,800 6,125,700 13,016,700 --------------------------------------------------------------------------- 1 Conforms to NI 43-101, 43101CP and current CIM definitions for resources. All numbers are rounded. 2 Cut-off 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.

J. Scott Drever, president of SilverCrest, stated; "We are now very confident about the nature and minimum size of the Main Zone deposit and are becoming more confident about its mineability as the preliminary feasibility progresses. We have used a gold price of US$600 per ounce and a silver price of US$10 per ounce for our base case economics and all preliminary indications are that we potentially have the makings of a very robust project at Santa Elena. The team of people we have assembled to carry out the permitting and engineering design all have extensive experience in this type of operation and are working well together to finalize all aspects of the development plan. We are anxious to finalize the Preliminary Feasibility Study so that we can move forward with the next stages of the program."

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

The Company also wishes to announce that the agreement with Scott F. Gibson & Company Inc. ("SGC") announced on January 7, 2008 to act as marketing and investor relations consultant has been cancelled by mutual agreement of the parties. The incentive stock option granted under the agreement has been cancelled and returned to the option pool available for grant under the Company's option plan.

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.

On Behalf of the Board of Directors of SilverCrest Mines Inc.

J. Scott Drever, President

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

CONTACT INFORMATION:

SilverCrest Mines Inc.
Fred Cooper
(604) 691-1730
Fax: (604) 691-1761
Email: info@silvercrestmines.com
Website: www.silvercrestmines.com

SilverCrest Files Technical Report and Permit Application for Santa Elena, Mexico

2008-01-15 21:20 Silvercrest Mines Inc. Edit elena · mexico · silver · cambridge house · scott f. gibson & company · sonora · david morgan · precious metals mining forum · scott gibson · silvercrest mines · fred cooper · gold · high grade gold · ni 43-101

TSX-V: SVL

For Immediate Release

VANCOUVER, B.C. January 15, 2008 – SilverCrest Mines Inc. (the “Company”) is pleased to announce that it has filed on SEDAR a new Santa Elena NI 43-101 Technical Report and resource estimate that was previously announced in a press release dated November 15, 2007. This report details the work completed with respect to an updated resource for the Santa Elena Main Zone based on 40 drill holes. The new estimated Indicated Resource is 7.3 million tonnes grading 1.81 gpt Au and 74.19 gpt Ag and contains 432,400 ounces of gold and 17.4 million ounces of silver based on a 0.5 gpt gold equivalent cut-off grade. The new Inferred Resource is estimated to be 2.6 million tonnes grading 1.37 gpt Au and 73.06 gpt Ag and contains 114,800 ounces of gold and 6.1 million ounces of silver.

The Company has carried out optimization of open pit configurations that show an estimated 80% of the Indicated Resource will fall within the proposed pit limits and as a result of the pre-feasibility study presently being completed, are expected to become fully diluted and recoverable Proven and Probable Reserves.

The Company has reported the results of 58 core holes (SE06-01 to SE07-58) to date in a continuing program of in-fill and expansion drilling for the Santa Elena Main Zone. The program is currently completing hole SE07-67 which is located to test a segment of the Rosita Sur exploration target. Results will continue to be announced as they become available. Drilling has re-commenced and is expected to include an additional 10 holes in the Phase II program to test the extensions of the Main Zone beyond the current proposed open pit as well as to test new targets defined by the recently completed geophysical program. A revised independent resource estimate for Santa Elena is planned for the first quarter of 2008 and is expected to include the results of approximately 75 core holes in total. This will add an estimated 35 holes to the current resource estimate. Total Company gold and silver resources are shown in the table below.

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 for Santa Elena and El Zapote is 30 gpt Ag equivalent (0.5 gpt Au equivalent). Cutoff for Cruz de Mayo is 30 gpt Ag.
³ Conversion of gold to silver based on 60:1 silver to gold ratio, Assumes 100% metal recovery. This does not include zinc resource at El Zapote.
RP = results pending

Permitting

An application for a Land Use Change Permit was submitted to the Mexican government on December 20, 2007. This is the first step in permitting the Santa Elena Project in preparation for production. The Company plans to submit an Environmental Impact Study (Manifiesto De Impacto Ambiental - MIA) during the first quarter of 2008. The MIA is the principal document required for approval of a development and production permit. The review process of the MIA generally requires a minimum of approximately 4 months.

Personnel

The Company is also pleased to announce that it has engaged Salvador Aguayo Salinas, PhD as Operating Manager for its Mexican operating subsidiary. Mr. Aguayo is a Mexican national and has over 30 years of experience in Mexico related to metallurgy and mineral processing including heap leach technologies and operations. Mr. Aguayo has been a metallurgical consultant to the mining industry as well as a Professor of Chemical Engineering and Metallurgy at the University of Sonora, Hermosillo, Mexico. Mr. Aguayo brings an important set of technical and managerial skills to the Company and his engagement demonstrates the Company’s commitment to moving Santa Elena toward a production decision in a timely manner.

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

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 the Board of Directors of
SilverCrest Mines Inc.

“J. Scott Drever”

J. Scott Drever, President

For further information, please contact:

Fred Cooper
1311 Howe Street, Suite 405
Vancouver, BC V6Z 2P3

Telephone:	(604) 691-1730
Fax:	(604) 691-1761
Email:	info@silvercrestmines.com
Website:	www.silvercrestmines.com
Toll Free:	1-866-691-1730 (Canada & USA)

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release

SilverCrest Continues to Intercept High Grade Gold and Silver at the Santa Elena Project, Mexico

2008-01-10 02:46 Silvercrest Mines Inc. Edit santa elena project · mexico · scott drever · sonora · silvercrest mines inc · technical report · discovery · fred cooper · gold · hermosillo · high grade gold · cruz de mayo · venture capital · banamichi (ejido)

TSX-V: SVL

January 9, 2008 – SilverCrest Mines Inc. (SVL 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 drill program is currently drilling hole SE07–67. These 10 core holes reported below (see attached drill plan for hole locations) are part of the current program to in-fill and expand the newly reported NI 43-101 Indicated and Inferred resources (see news release dated November 15, 2007) for the project. The most notable intercepts of this series of holes were encountered in hole SE07-56 which intercepted 36 metres (118.1 feet) grading 2.46 gpt gold and 49.33 gpt silver (197.18 gpt or 5.75 opt silver and silver equivalent) and hole SE07-54 with 19.7 metres (35.1 feet) grading 5.29 gpt gold and 106.7 gpt silver (525 gpt or 15.6 opt silver and silver equivalent). The detailed results are shown below and the hole locations are shown on the attached figure.

					Weighted Average Grades
Drill Hole	From (m)	To (m)	Interval (m)	Interval (ft)	Au gpt	Ag gpt	Au gpt equiv*	Ag gpt equiv*	Note
SE07-50	10.0	16.0	6.0	19.7	0.36	29.06	0.85	50.96	Footwall
SE07-51	8.2	16.0	7.8	25.6	0.30	35.88	0.91	54.39	Footwall
SE07-53	7.6	23.9	16.3	53.3	2.60	73.41	3.83	229.77	In-fill
SE07-54	19.0	29.7	10.7	35.1	5.29	106.75	7.08	424.57	In-fill
SE07-55	15.8	22.3	6.6	21.5	5.14	226.43	8.92	535.00	In-fill
SE07-56	25.0	61.0	36.0	118.1	2.46	49.28	3.29	197.18	In-fill
SE07-57	23.0	30.6	7.6	24.9	0.89	31.54	1.42	85.03	In-fill
SE07-58	28.5	32.3	3.8	12.5	1.58	49.33	2.40	144.23	In-fill
*Conversions are based on a ratio of 1:60 Au:Ag and assume 100% metal recovery. All numbers are rounded.

The in-fill holes show excellent widths and grades and continue to define the high grade zone within the potentially open pit resource. The results of these holes also begin to establish a basis for potential underground resources.

Holes 50 and 51 were drilled in the Footwall Zone immediately adjacent to the Santa Elena Main Zone. The Footwall Zone consists mainly of quartz stockwork in shears and structures that are generally perpendicular to the Main Zone. This drilling intercepted mineralization with an estimated true width of 14 metres with an average grading approximately 85 gpt (2.5 opt) silver equivalent. The Footwall Zone appears to have a strike length of 400m with a down dip length of 30 to 50 metres. Holes number SE07-49 and SE07-52 were drilled beyond significant mineralization within Footwall Zone and reported minor silver and gold values. All samples were analyzed at ALS-Chemex Labs in Hermosillo, Mexico and North Vancouver, BC, Canada.

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

Santa Elena Silver and Gold Resources
Property	Resource Category ¹	Tonnes	Ag gpt	Au gpt	Tons	Ag opt	Au Opt	Contained Silver Ounces	Contained Gold Ounces	Contained Silver Equiv. Ounces³
Santa	Indicated	7,378,300	74.20	1.81	8,133,200	2.16	0.053	17,600,900	428,700	43,327,100
Elena²	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. ²Cutoff 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.

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 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 program of 33 line kilometres of Induced Polarization and magnetic geophysics has been completed and has defined potential extensions of the Main Zone and as well as parallel zones that have been partially identified at surface. The program results confirm the approximate 1,200 metre strike length of the Main Zone and suggest that several parallel zones are present with geophysical signatures similar to the Santa Elena Main Zone.

J. Scott Drever, President stated; “We have re-commenced drilling the Main Zone and will test some of the newly identified geophysical targets as part of this current drill program. We anticipate doing an up-dated independent resource estimation as soon as we complete the Main Zone drilling and expect to include a further 30 to 40 drill holes in the resource up-date. Meanwhile we are finalizing the technical and economic parameters of our pre-feasibility study and are proceeding with the preparation of an Environmental Impact Study and various permitting applications for a potential open pit, heap leach operation”.

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 content

On Behalf of the Board of Directors of
SilverCrest Mines Inc.

“J. Scott Drever”

J. Scott Drever, President

For further information, please contact:

Fred Cooper
1311 Howe Street, Suite 405
Vancouver, BC V6Z 2P3

Telephone:	(604) 691-1730
Fax:	(604) 691-1761
Email:	info@silvercrestmines.com
Website:	www.silvercrestmines.com
Toll Free:	1-866-691-1730 (Canada & USA)

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release

SilverCrest Secures Surface Rights for Santa Elena Project, Mexico

2008-01-03 15:05 Silvercrest Mines Inc. Edit silver · banamichi (ejido) · santa elena project in sonora · mexico · scott drever · indicated resource · cruz de mayo · ni 43-101 · n. eric fier · cpg · p.eng · el salvador

TSX-V: SVL

For Immediate Release

VANCOUVER, B.C. December 20, 2007 – SilverCrest Mines Inc. (the “Company”) is pleased to announce that it has signed a community land occupation agreement with the community of Banamichi (Ejido) for the Santa Elena Project in Sonora, Mexico. This agreement, which involves up to 841 hectares, is for a period of 20 years and ensures that the exploration, development and mining activities of the Company may be carried out unimpeded.

J. Scott Drever, President stated; “We are extremely pleased to have completed this critical step in enhancing the value of the Santa Elena Project and moving it toward production. Our resources continue to expand and all the significant elements required to make a production decision are systematically being put into place. This agreement is an extremely important step in the process. Our positive relationship with community members of Banamichi and other local stakeholders is of the utmost importance in moving the project forward and this agreement reflects the growing cooperation amongst the various parties”.

The Company recently announced an updated resource for the Santa Elena Main Zone based on 40 drill holes that estimates the current Indicated Resource to be 7.3 million tonnes grading 1.81 gpt Au and 74.19 gpt Ag and contains 432,400 ounces of gold and 17.4 million ounces of silver based on a 0.5 gpt gold equivalent cut-off grade.. Inferred Resources are estimated to be 2.6 million tonnes grading 1.37 gpt Au and 73.06 gpt Ag and contains 114,800 ounces of gold and 6.1 million ounces of silver. Optimization of open pit configurations shows that an estimated 80% of the Indicated Resource will fall within the proposed pit limits and as a result of the pre-feasibility study presently being completed, are expected to become Proven and Probable Reserves.

The Company has reported the results of 48 core holes (SE06-01 to SE07-48) to date in a continuing program of in-fill and expansion drilling for the Santa Elena Main Zone. The program is currently completing hole SE07-66. Results will continue to be announced as they become available. In early 2008, drilling is expected to include an additional 10 holes to test the extensions of the Main Zone beyond the current proposed open pit as well as to test new targets defined by the recently completed geophysical program. A revised independent resource estimate is planned for the first quarter of 2008 and is expected to include the results of at total of approximately 75 core holes. This will add approximately 35 holes to the current resource estimate.

Cruz de Mayo

The Company also announces that is has filed on SEDAR the Cruz de Mayo NI 43-101 Technical Report and Resource estimate that was previously announced in a press release dated November 15, 2007. This report details the work completed on the project and establishes the initial Indicated Resource at 1.1 million tones, grading 64.15 gpt Ag based on a 30 gpt silver cut-off grade and containing 2.35 million ounces of silver. Inferred Resources have been estimated at 6.1 million tones, grading 66.5 gpt Ag, and containing 12.96 million ounces of silver. The gold resources are yet to be estimated but are expected to average approximately 0.1 gpt Au. The Company expects to carry out additional drilling along the 2.5 kilometer strike length of the known silver mineralized horizon to target a potential resource of 30-50 million ounces of silver.

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 for Santa Elena and El Zapote is 30 gpt Ag equivalent (0.5 gpt Au equivalent). Cutoff for Cruz de Mayo is 30 gpt Ag.

³ Conversion of gold to silver based on 60:1 silver to gold ratio, Assumes 100% metal recovery. This does not include zinc resource at El Zapote.

RP = results pending

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

On Behalf of the Board of Directors of
SilverCrest Mines Inc.

“J. Scott Drever”

J. Scott Drever, President

For further information, please contact:

Fred Cooper
1311 Howe Street, Suite 405
Vancouver, BC V6Z 2P3

Telephone:	(604) 691-1730
Fax:	(604) 691-1761
Email:	info@silvercrestmines.com
Website:	www.silvercrestmines.com
Toll Free:	1-866-691-1730 (Canada & USA)

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release

SilverCrest Intercepts 32.9 Metres of 367 gpt (10.7 Ounces) Silver & Silver Equivalent at Santa Elena

2007-11-30 00:08 Silvercrest Mines Inc. Edit silvercrest · scott drever · santa elena · sonora · mexico · silver

SilverCrest Intercepts 32.9 Metres of 367 gpt (10.7 Ounces)
Silver & Silver Equivalent at Santa Elena

TSX-V: SVL

For Immediate Release

VANCOUVER, B.C. November 29, 2007 – SilverCrest Mines Inc. (SVL the “Company”) is pleased to report results for the next series of core holes of an “expanded” Phase II