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Tuesday, December 23, 2014

Garibaldi (TSX.V: GGI) Closes $1,250,000 Financing

TSX Mining News: Garibaldi (TSX.V: GGI) Closes $1,250,000 Financing


Vancouver, British Columbia - December 23, 2014 (Investorideas.com Mining stocks newswire) In preparation for a dynamic exploration season in British Columbia in 2015, Garibaldi Resources Corp. (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce that it has closed a non-brokered private placement of 5,953,310 flow-through units at $0.21 cents per unit (see details below) for gross total proceeds of $1,250,000 CDN. This strategic financing will be used to further advance the Company’s B.C. properties including the Canadian flagship Grizzly Project in the Sheslay district.

“Exceptional results from Garibaldi's Rodadero discovery in Sonora State and our La Patilla Gold Project in Sinaloa State already ensures that our shareholders have a great deal of exciting news to look forward to, near-term and throughout 2015, from ongoing exploration in Mexico which is accelerating,” stated President and CEO Steve Regoci. “Additionally, Garibaldi management believes strongly in the significant leveraged opportunity offered shareholders by the Company's portfolio of B.C. properties led by the Grizzly. We have the means to unlock the value in these excellent prospects during 2015 which will build on our success in Mexico.”

Garibaldi B.C. Projects Overview
Grizzly Project
A comprehensive NI-43-101 Technical Report on the Grizzly Cu-Au Porphyry Project is currently being completed by C.J. Greig & Associates Ltd. following successful 2014 programs that have further refined preliminary drill targets along with identifying new ones over a northwest-trending mineralized corridor that stretches for 30 km. The Company has been granted a multi-year permit for drilling at the Grizzly from the B.C. Ministry of Mines.
Garibaldi has expanded the Grizzly to 272 sq. km through staking to extend the western border of the Grizzly West porphyry by 1 km. Significant drilling discoveries 10 km apart at the Star and Hat porphyries contiguous to Grizzly are strong evidence as to the scale of mineralization in this district. A new drill program recently commenced at the Hat Property as reported by Doubleview Capital Corp. Dec. 12, 2014.

King
Exploration targets at the 1700 hectare King Property, approximately 10 km north-northeast of the past producing high-grade Snip Mine in the Eskay Creek region, range from high-grade gold to high-grade silver-lead-zinc. Recent power and infrastructure projects have significantly improved access to the claim area. Four mineralized zones are considered highly prospective for potential new discoveries on this under-explored property.

Red Lion
The Red Lion Property, 60 km south of AuRico Gold's Kemess mine in north central B.C., is contiguous to the northern border of Kiska Metals' Kliyul Cu-Au Porphyry Project under option to Teck Resources Ltd. Kliyul has yielded promising results from drilling including 76 m of 1.16 g/t Au and 0.33% Cu, and 218 m of 0.52 g/t Au and 0.23% Cu.

Garibaldi's initial land position at Red Lion, characterized by extremely strong Cu-Au stream sediment geochemistry in both RGS and follow-up proprietary surveys, was increased recently to a total of 45 sq. km with additional staking covering a broad, high-tenor Cu-Au soil geochemical anomaly.

Access and infrastructure at Red Lion are excellent with the power line to the Kemess South mine only 3 km away.

MSM
The MSM prospect, comprising 58 sq. km, is located approximately 50 km northeast of Imperial Metals' Red Chris mine and is underlain by similar Triassic and Jurassic volcanic and plutonic rocks. At least eight Cu-Ag-Au showings have been documented on the property. During this year, Garibaldi compiled all previous exploration data, interpreted satellite imagery lineaments, conducted an airborne magnetic survey and collected stream sediment geochemical samples in preparation for more detailed ground work that will help identify potential drill targets.

Tora Tora
Garibaldi's Tora Tora Property near Princeton, 25 km north of the producing Copper Mountain mine, is largely overburden covered but features a prominent circular shaped magnetic anomaly which management believes may be the expression of a buried intrusive body. The company is following up on last year's aeromagnetic survey of this distinct target located 2 km west of Sego Resources' 2012 discovery hole (DDH-12-21, 100.4 m of 0.95% Cu, 0.55g/t Au and 3.5 g/t Ag).

Black Gold
Garibaldi's Black Gold claims near Grand Forks, British Columbia, are potentially suitable for extraction of dimension stone quality “black granite”. The Company continues to examine ways to unlock the value of this legacy asset.

Private Placement Details
The flow-through private placement consists of units of the Company's securities at a price of $0.21 per unit. Each unit contains one flow-through share in the capital of the Company and one-half of a non-transferable share purchase warrant with each full warrant entitling the holder to acquire one additional common share of the Company at a price of $0.30 for a period of 18 months. Secutor Capital Management Corporation acted as exclusive finder in connection with this non-brokered private placement and was paid a cash commission of $87,500 CDN. The units from this private placement are subject to a hold period and may not be traded until April 23, 2015.


Qualified Person
Carl von Einsiedel, P.Geo., a non-independent geological consultant and a Qualified Person as defined by NI-43-101, has reviewed this news release and approved the content thereof.

About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: "Steve Regoci"
Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

Contact:
GARIBALDI RESOURCES CORP.
1150 - 409 Granville Street
Vancouver, BC V6C 1T2
Telephone: (604) 488-8851 Web site: 
GaribaldiResources.com

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Disclaimer/Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp The following is a paid for news release.

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Tuesday, November 18, 2014

SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Options Cumobabi Property

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Options Cumobabi Property

Vancouver, BC - November 18, 2014 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) is pleased to announce it has signed a five year option agreement (the “Agreement”) with Evrim Resources Corp. (TSX.V: EVM) (“Evrim”) whereby SilverCrest can acquire a 100% interest in Evrim’s Cumobabi Property in the State of Sonora, Mexico. The Cumobabi Property is in the general vicinity of the Santa Elena mine and adjacent to the Ermitaño Property which was previously optioned by the Company (see news release dated January 14, 2014).

SilverCrest can earn a 100% interest in Cumobabi by paying US$75,000 upon signing the Agreement and US$50,000 each anniversary thereafter, completing a minimum of US$500,000 in exploration expenditures by the second anniversary, and delivering a Production Notice within five years, specifying mine and construction plans with accompanying permits. Upon vesting, SilverCrest will no longer be required to make the annual payments and Evrim will retain a 1.5% Net Smelter Returns Royalty on the Cumobabi Property.

SilverCrest’s acquisition of the Cumobabi Property significantly consolidates SilverCrest’s land position in the vicinity of the Santa Elena Mine. The concessions host the same early Tertiary andesite and rhyolite volcanic rocks with major structures that host the Santa Elena silver and gold low sulphidation epithermal mineralization. When combined with the recently acquired option on the Ermitaño Property, SilverCrest now controls over 300 square kilometres of mineral rights, prospective for gold and silver resources, adjacent to or in the near vicinity of the Santa Elena mine. The lands are considered to be highly prospective and are expected to play a strategic role in the organic growth of SilverCrest's resources.

Initial exploration work is planned on the Cumobabi Property by the Company in 2015.
The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, President and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.


SilverCrest Mines Inc. (NYSE MKT: SVLC; TSX: SVL) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high-grade, epithermal silver and gold producer, with an estimated life of mine of 8 years at an average operating cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the new 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average of 1.5 million ounces of silver and 32,800 ounces of gold per annum over the current reserve life. Major expansion, including commissioning of the 3,000 tonnes per day conventional mill facility and underground mine, is complete and is expected to result in increased metals production at the Santa Elena Mine during the second half of 2014 and beyond. Exploration programs continue to result in new discoveries at Santa Elena and also have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State, Mexico.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company’s anticipated results and developments in the Company’s operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future and include, without limitation, statements with respect to: the economic viability of a project; strategic plans and expectations for the development of the Company’s operations and Cumobabi and Ermitaño properties; the amount of mineral reserves and mineral resources; the amount of future production of gold and silver over any period; the amount of expected grades and ounces of metals and minerals; expected processing recoveries; cash operating costs and outflows; and life of mine.
These forward-looking statements relate to analyses and other information that are based on, without limitation, the following estimates and assumptions: the presence of and continuity of metals at the Company’s projects; cost of production and productivity levels; plant and equipment function as anticipated; the availability of skilled labour; contracted parties provide goods and services on agreed time frame; ability to develop and finance projects; accuracy of the interpretations and assumptions used in calculating reserve and resource estimates; and operations not being disrupted or delayed by unusual geological or technical problems.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to environmental laws; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies, which may give rise to conflicts of interests.
Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Contact:
Fred Cooper
Telephone: (604) 694-1730 ext. 108
Fax: (604) 694-1761
Toll Free: 1-866-691-1730
Email: 
info@silvercrestmines.com
Website: 
www.silvercrestmines.com
Suite 501 - 570 Granville Street, Vancouver, BC Canada V6C 3P1

Visit this company: SilverCrest Mines Inc.

Published at Investorideas.com Newswire

Disclaimer/Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp.Disclosure: SilverCrest Mines Inc. is an annual member of the Investorideas newswire service and compensates the company for news dissemination ($9700)
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

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Thursday, November 13, 2014

SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Reports Q3 2014 Financial Results

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Reports Q3 2014 Financial Results

Cash Flow from Operations of $2.3 million, Net Earnings of $0.2 million

Vancouver, BC - November 13, 2014 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) is pleased to announce its financial results for the third quarter ended September 30, 2014. All financial information is prepared in accordance with International Financial Reporting Standards ("IFRS") and all dollar amounts are expressed in U.S. dollars unless otherwise specified. The information in this news release should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2014, and associated management discussion and analysis ("MD&A") which are available from the Company's website at www.silvercrestmines.com and under the Company's profile on SEDAR at www.sedar.com.

N. Eric Fier, President and COO, stated; "The third quarter was another significant quarter for SilverCrest as we continue our transition at the Santa Elena Mine from open pit heap leach to underground mining and milling operations. In the third quarter, we successfully commissioned Santa Elena's new 3,000 tonnes per day CCD/MC processing facility and achieved record silver equivalent ("AgEq"(2)) production. We continue to show positive cash flow from operations in spite of declining metal prices. Financial results were also impacted by IFRS accounting requirement to capitalize sales of silver and gold ounces and related expenses while SilverCrest's expansion assets are being commissioned. The Company's fourth quarter financial results will not be significantly impacted by capitalized sales and related costs as Santa Elena's Expansion is now fully commissioned. Our focus continues on operating efficiencies, cost control measures and maintenance of a strong balance sheet to withstand metal price volatility. Based on the production outlook for the fourth quarter, the Company expects to meet its operating cash cost, all-in sustaining cash cost and production guidance for 2014. Our nine month operating cash flow was $11.97 million with an operating cash cost of $8.19 and all-in sustaining cash cost of $12.01 per silver equivalent ounce sold (2) which continues to makes us one of the lowest cost producers of precious metals."

FINANCIAL HIGHLIGHTS OF Q3, 2014, Compared to Q3, 2013:
·        Cash flow from operations (1)(2) was $2.3 million ($0.02 per share), decrease of 67%.
·        Cash operating cost per AgEq ounce sold (2) was $10.30, increase of 29%.
·        All-in sustaining cash cost per AgEq ounce sold (2) was $14.99, increase of 43%.
·        Reported revenue was $8.0 million after capitalizing $7.5 million sales, decrease of 41%.
·        Metal sales of 393,860 ounces of silver and 7,317 ounces of gold increased 92% and decreased 3%, respectively.
·        Realized spot metal prices declined from $21.85 to $18.78 (14%) for silver and from $1,346 to $1,251 (7%) for gold.
·        Net earnings were $0.2 million ($0.00 per share), compared to $3.7 million ($0.03 per share).
·        Adjusted earnings were $3.6 million ($0.03 per share), compared to $4.1 million ($0.04 per share).
·        Cash and cash equivalents increased to $37.7 million (at September 30, 2014), compared to $24.1 million (at September 30, 2013).
·        Working capital increased to $45.1 million (at September 30, 2014), compared to $30.9 million (at September 30, 2013).
·        Bullion inventory at September 30, 2014, included 56,890 (2013 - 53,131) ounces of silver and 1,045 (2013 - 1,819) ounces of gold.

Comparison of the Three Months Ended September 30, 2014, to September 30, 2013
Net earnings were $0.2 million ($0.00 per share basic) for the third quarter compared with $3.7 million ($0.03 per share basic) in 2013. The earnings decrease is primarily attributed to declining realized metal prices and the accounting requirement to capitalize sales of silver and gold ounces and related expenses while SilverCrest's expansion assets were being commissioned. During the third quarter, SilverCrest capitalized sales of $7.5 million, or 48% of its total $15.5 million third quarter sales.

Adjusted earnings (2) were $3.6 million ($0.03 per share) for the third quarter compared with $4.1 million ($0.04 per share basic) in 2013. Adjusted earnings exclude deferred revenue, deferred tax expense and share based compensation.

Silver sales totalled 393,860 ounces (2013 - 204,947), which includes 189,499 capitalized pre-commissioning ounces, a 92% increase over the same period in 2013. The foregoing, combined with a 14% lower average realized price of $18.78 (2013 - $21.85) per ounce, resulted in only 65% higher silver revenue. Total gold revenue reported in the third quarter decreased 11% compared to the same period in 2013. Total gold sales were 7,317 ounces (2013 - 7,522), which includes 3,546 capitalized pre-commissioning ounces, or 3% below the same period in 2013. The Company sold 5,854 (2013 - 6,017) ounces of gold at an average realized price of $1,251 (2013 - $1,346) per ounce, a 7% decline. The Company delivered 1,463 gold ounces (2013 - 1,504) under the Sandstorm Purchase Agreement at $354 (2013 - $350) per ounce.

Cost of sales amounted to $4,435,715 (2013 - $5,293,749). Cash operating cost and all-in sustaining cash cost per AgEq ounce sold (2) in Q3 2014 were $10.30 and $14.99 (Ag:Au 60.0:1) per ounce, respectively, compared to $7.96 and $10.49 (Ag:Au 61.2:1) per ounce in Q3 2013.

The higher costs per ounce in the third quarter are mainly due to additional processing costs resulting from Santa Elena's transition from a heap leach processing operation to a milling operation. The mine remains focused on costs and further operational efficiencies that will allow us to achieve our annual cost guidance:
·        cash operating cost of $8.50 - $9.50 per AgEq ounce sold(2)(9 months; $8.19).
·        all-in sustaining cash costs of $11 - $12 per AgEq ounce sold(2)(9 months; $12.01).

General and administrative expenses increased by 15% to $1,298,280 (2013 - $1,125,084) primarily due to an increase in Mexico corporate expenses. Mexico corporate expenses increased by 62% to $287,209 (2013 - $177,318), with additional Corporate Social Responsibility ("CSR"), tax, and legal activity.


(1)Cash flow from operations before changes in working capital items.
(2) These are Non-IFRS performance measures. Refer to "CAUTIONARY NOTE REGARDING NON-IFRS PERFORMANCE MEASURES". Silver equivalent ("AgEq") ounces consist of the number of ounces of silver production/sold plus the number of ounces of gold production/sold multiplied by a 60:1 gold price to silver price ratio. Prior to January 1, 2014, the AgEq ratio was based on the spot gold price to the spot silver price at the quarter end dates for financial reporting. At Q3, 2013, the gold price to silver price ratio was 61.2:1. All numbers are rounded.

OPERATIONS UPDATE
Most of the focus at Santa Elena is currently on underground performance. The underground is currently averaging ore production of 450 tonnes per day with an expectation to achieve over 500 tonnes per day by year end. The Company is currently mining its first stope ("Stope #1") which contains approximately 40,000 ore tonnes. An estimated 20% of the stope has been mined and preliminary grade reconciliation shows higher than expected silver and gold grades. Stope #1 will be key to better understanding grade distribution and reconciliation, dilution, stope geotechnical constraints and mining costs.

The new CCD/MC processing facility is currently running at nameplate capacity of 3,000 tonnes per day. October average mill throughput was 2,750 tonnes per day. Current recoveries are at or above projected numbers of 92% for gold and 67.5% for silver. A detailed mass balance is currently underway to better determine percent recoveries.

Permission has been granted to reopen the Santa Elena pit which currently has an estimated 75,000 to 100,000 ore tonnes, grading 1.4 gpt Au and 88.0 gpt Ag. The Company is preparing for this re-opening in a safe and orderly manner. Depending on the timing for pit ramp clean up with geotechnical remediation, high grade low strip production (est. 1,000 tonnes per day) should start from the pit in late Q4 2014 or early 2015 and continue for three to six months.

OUTLOOK
SilverCrest's immediate focus is to (i) continue the efficient operation of its flagship Santa Elena low cost silver and gold mine, (ii) increase current underground ore production rates from an average of 450 tonnes per day to in excess of 1,000 tonnes per day in H1 2015, (iii) expand resources and associated subsequent reserves at Santa Elena by systematic exploration of the deposit, (iv) continue and acquire exploration properties in proximity to Santa Elena and drill test some targets in Q4 2014, (v) complete evaluation of certain aspects of the La Joya Project to a Pre Feasibility Study level in 2015.

Q3 FINANCIALS CONFERENCE CALL
A conference call to discuss the results for the unaudited Q3 2014 financials will be held on Thursday, November 13, 2014. The call will be held at 10am PDT (1pm EDT). To participate in the conference call, please dial the following:
Participant Dial-In Number(s)
Local / International: 1-647-427-3415
North American Toll- Free: 1-888-241-0551

A replay of the conference call will be archived for later playback on the Company's website at www.silvercrestmines.com.


SilverCrest Mines Inc. (NYSE MKT: SVLC; TSX: SVL) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a highgrade, epithermal silver and gold producer, with an estimated life of mine of 8 years at an average operating cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the new 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average of 1.5 million ounces of silver and 32,800 ounces of gold per annum over the current reserve life. Major expansion and commissioning of the 3,000 tonnes per day conventional mill facility is complete and is expected to increase metals production at the Santa Elena Mine in the second half of 2014 and beyond. Exploration programs continue to result in new discoveries at Santa Elena and also have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State, Mexico.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future and include, without limitation, statements with respect to: the economic viability of a project; strategic plans and expectations for the development of the Company's operations and properties; the amount of mineral reserves and mineral resources; the amount of future production of gold and silver over any period; the amount of expected grades and ounces of metals and minerals; expected processing recoveries; cash operating costs and outflows; life of mine; anticipated free cash flow generation; and prices of metals and minerals.
These forward-looking statements relate to analyses and other information that are based on, without limitation, the following estimates and assumptions:  the presence of and continuity of metals at the Company's projects; cost of production and productivity levels; plant and equipment function as anticipated; the availability of skilled labour; contracted parties provide goods and services on agreed time frame; ability to develop and finance projects; accuracy of the interpretations and assumptions used in calculating reserve and resource estimates; and operations not being disrupted or delayed by unusual geological or technical problems.  

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to environmental laws; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies, which may give rise to conflicts of interests.

Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

CAUTIONARY NOTE REGARDING NON-IFRS PERFORMANCE MEASURES
This news release includes the term "Free cash flow". This term is commonly used in the mining industry but is not defined under International Financial Reporting Standards ("IFRS"). The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate SilverCrest's performance and its ability to generate cash flow. It is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Free cash flow is calculated from net cash provided by operating activities less SilverCrest's capital expenditures on its mining interests.

Contact:
Fred Cooper
Telephone: (604) 694-1730 ext. 108
Fax: (604) 694-1761
Toll Free: 1-866-691-1730
Email: info@silvercrestmines.com
Website: www.silvercrestmines.com
Suite 501 - 570 Granville Street, Vancouver, BC Canada V6C 3P1

Visit this company: SilverCrest Mines Inc.

Published at Investorideas.com Newswire

Disclaimer/Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp.Disclosure: SilverCrest Mines Inc. is an annual member of the Investorideas newswire service and compensates the company for news dissemination ($9700)
BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

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Wednesday, October 15, 2014

SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Announces Record Q3 Production 385,251 Ounces Silver and 7,085 Ounces Gold

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Announces Record Q3 Production 385,251 Ounces Silver and 7,085 Ounces Gold

Vancouver, BC - October 15, 2014 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) ( NYSE MKT: SVLC) is pleased to announce silver and gold production results for the third quarter (“Q3”) of 2014 from its 100% owned Santa Elena Mine located in Sonora, Mexico. The Santa Elena Mine is in the process of finalizing the transition from an open pit heap leach to underground mining and milling operations. For additional information and to view photos and videos, please visit the Company’s website at www.silvercrestmines.com

Production Highlights of Q3, 2014, vs. Q3, 2013;
·        Silver production quarterly record of 385,251 ounces; a 90% increase.
·        Gold production of 7,085 ounces; a 2% decrease.
·        Silver equivalent (1) production record of 810,334 ounces; a 26% increase.
·        Bullion inventory at the end of Q3 2014 included 56,890 oz silver and 1,045 oz gold.
·        Santa Elena's new mill was commissioned on budget by August 1 st, with average throughput of 2,371 tonnes per day during Q3 2014 and currently averaging 2,500 tonnes per day.

N. Eric Fier, President and COO stated; "Santa Elena's third quarter 2014 silver equivalent production was significantly higher than the second quarter 2014 as a result of the successful commissioning of the new processing facility. Our current operational focus is to optimize ball mill grind size in efforts to achieve throughput tonnages at or above the nameplate capacity of 3,000 tpd and manage the short-term delays related to the first underground stope production (refer to news release dated September 26, 2014). Metal production for the first three quarters of 2014 was 1.9 million AgEq (2) and it is expected to significantly increase in the fourth quarter to enable us to meet our revised 2014 metal production guidance between 3.0 to 3.3 million AgEq (2). Free cash flow at current metal prices is anticipated in late Q3 and Q4 2014".


(1) Silver and gold ounces produced consist of ounces recovered from the mill and the leach pad.
(2) Silver equivalent ("AgEq") ounces consist of the number of ounces of silver production/sold plus the number of ounces of gold production/sold multiplied by 60:1 gold price to silver price ratio. Prior to Q1 2014, the AgEq ratio was based on the spot gold price to the spot silver price at the quarter end dates for financial reporting. At Q3 2013, the gold price to silver price ratio was 61.2:1. All numbers are rounded.

Sonora, Mexico
As part of the Santa Elena organic growth plan, exploration drilling has started at the Durazno Target (Ermitano Concession) located approximately 7 kilometres southeast of the mine site. Current plan is to drill 6 to 7 core holes (est. 2,000 metres) to test outcropping, widespread epithermal mineralization in several identified areas. Results from this initial program will be reported as information becomes available.

Release of Third Quarter, 2014 Financial Results and Conference Call
SilverCrest plans to release its unaudited third quarter financial statements and MD&A after market closes on Wednesday November 12, 2014. A telephone conference call to discuss these results will be held at 10am PDT (1pm EDT) on Thursday, November 13, 2014.

The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, President and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.


SilverCrest Mines Inc. (NYSE MKT: SVLC; TSX: SVL) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a highgrade, epithermal silver and gold producer, with an estimated life of mine of 8 years at an average operating cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the new 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average of 1.5 million ounces of silver and 32,800 ounces of gold per annum over the current reserve life. Major expansion and commissioning of the 3,000 tonnes per day conventional mill facility is complete and is expected to increase metals production at the Santa Elena Mine in the second half of 2014 and beyond. Exploration programs continue to result in new discoveries at Santa Elena and also have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State, Mexico.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future and include, without limitation, statements with respect to: the economic viability of a project; strategic plans and expectations for the development of the Company's operations and properties; the amount of mineral reserves and mineral resources; the amount of future production of gold and silver over any period; the amount of expected grades and ounces of metals and minerals; expected processing recoveries; cash operating costs and outflows; life of mine; anticipated free cash flow generation; and prices of metals and minerals.
These forward-looking statements relate to analyses and other information that are based on, without limitation, the following estimates and assumptions:  the presence of and continuity of metals at the Company's projects; cost of production and productivity levels; plant and equipment function as anticipated; the availability of skilled labour; contracted parties provide goods and services on agreed time frame; ability to develop and finance projects; accuracy of the interpretations and assumptions used in calculating reserve and resource estimates; and operations not being disrupted or delayed by unusual geological or technical problems.  
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to precious and base metal price fluctuations; risks related to fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Company's ability to raise financing and fund the exploration and development of its mineral properties; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable mining operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to environmental laws; risks related to the Company's status as a foreign private issuer in the United States; risks related to all of the Company's properties being located in Mexico and El Salvador, including political, economic, social and regulatory instability; and risks related to officers and directors becoming associated with other natural resource companies, which may give rise to conflicts of interests.
Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company's forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

CAUTIONARY NOTE REGARDING NON-IFRS PERFORMANCE MEASURES
This news release includes the term "Free cash flow". This term is commonly used in the mining industry but is not defined under International Financial Reporting Standards ("IFRS"). The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate SilverCrest's performance and its ability to generate cash flow. It is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Free cash flow is calculated from net cash provided by operating activities less SilverCrest's capital expenditures on its mining interests.

Contact:
Fred Cooper
Telephone: (604) 694-1730 ext. 108
Fax: (604) 694-1761
Toll Free: 1-866-691-1730
Email: 
info@silvercrestmines.com
Website: 
www.silvercrestmines.com
Suite 501 - 570 Granville Street, Vancouver, BC Canada V6C 3P1

Visit this company: SilverCrest Mines Inc.

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