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Thursday, August 13, 2015

Silvercrest (TSX: SVL) (NYSE MKT: SVLC) Announces Q2, 2015 Financial Results; Operating Cash Flow of $8.1 million ($0.07/share), Earnings of $3.86 million ($0.03/share), Guidance for Cash Cost/AgEq Ounce Reduced

Silvercrest (TSX: SVL) (NYSE MKT: SVLC) Announces Q2, 2015 Financial Results; Operating Cash Flow of $8.1 million ($0.07/share), Earnings of $3.86 million ($0.03/share), Guidance for Cash Cost/AgEq Ounce Reduced

Vancouver, BC - August 13, 2015 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL;  NYSE MKT: SVLC) (the "Company" or "SilverCrest") is pleased to announce its consolidated interim financial results for the second quarter ("Q2") ended June 30, 2015. 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 six months ended June 30, 2015 and associated management discussion and analysis ("MD&A") which are available from the Company's website at www.wilvercrestmines.com and under the Company's profile on SEDAR at www.sedar.com.

J. Scott Drever, Chief Executive Officer, stated; "The second quarter was another successful quarter for SilverCrest. Santa Elena's record Q2 AgEq (3) production delivered strong financial results despite the lower precious metals price environment. We generated cash flow from operations (1)(2) of $8.1 million ($0.07 per share) and net earnings of $3.86 million ($0.03 per share). We maintained a strong balance sheet at June 30, 2015 with $36.4 million in cash and cash equivalents and working capital of $51.0 million. For Q2, 2015, our cash operating cost (1)(2) was $8.05 per AgEq (3) ounce sold and our all-in sustaining cash cost(2) was $10.97 per AgEq (3) ounce sold. Due to the strong performance in Q2, 2015 and continuing operational improvements, SilverCrest increased its 2015 corporate production guidance to a range of 4.7 – 5.1 million AgEq (3) ounces. The Company has reduced its 2015 operating cash cost range to $9 – $10 per AgEq ounce from $10 – $11 per AgEq ounce and all-in sustaining cash cost range to $12 – $13 per AgEq ounce from $14 – $15 per AgEq ounce. Our cash operating numbers continue to make us one of the lowest cost precious metal producers."

FINANCIAL HIGHLIGHTS OF Q2, 2015, COMPARED TO Q2, 2014
·        Cash flow from operations (1)(2) was $8.05 million ($0.07 per share, basic and diluted), an increase of 163%.
·        Cash operating cost per AgEq ounce sold (2) (3) was $8.05, an increase of 13%.
·        All-in sustaining cash cost per AgEq ounce sold (2) (3) was $10.97, a decrease of 7%.
·        Revenues increased 169% to $20.7 million.
·        Metal sales of 515,070 ounces of silver and 11,567 ounces of gold increased 216% and 144%, respectively.
·        Realized average spot metal prices declined from $19.67 to $16.54 (16%) for silver and from $1,296 to $1,202 (7%) for gold.
·        Net earnings increased 194% to $3.86 million ($0.03 per share, basic and diluted).
·        Adjusted earnings (2) increased 361% to $4.5 million ($0.04 per share, basic and diluted).
·        Cash and cash equivalents totalled $36.4 million, compared to $40.1 million (at June 30, 2014).
·        Working capital was $51.0 million, compared to $44.5 million (at June 30, 2014).
·        Metal inventory included 247,841 (Q2, 2014 – 69,000) ounces of silver and 5,090 (Q2, 2014 – 1,330) ounces of gold.
·        Scotiabank Credit Facility: Drawdown – $15.0 million; Available – $5.0 million.


(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".
(3) Silver equivalent ("AgEq") ratio for Q2, 2015 of 66.7:1 was calculated using metal prices of $1,200/oz for gold and $18/oz for silver. For consistency with, comparative periods, the AgEq ratio reported during 2014 was changed from 60:1 to 66.7:1. All numbers are rounded.

Comparison of the three months ended June 30, 2015 to June 30, 2014
Net earnings were $3,866,560 ($0.03 per share basic and diluted) for the second quarter compared with $1,314,350 ($0.01 per share basic and diluted) in the second quarter of 2014. The increase in net earnings in the second quarter was primarily attributed to a significant increase in ounces produced and sold, relating from the transition from an open pit heap leach operation to an underground mining and milling operation. Q2, 2015 production was also assisted by better silver and gold recoveries which increased from Q1, 2015 from 60% to 74% and 91% to 96% respectively. These positive aspects were partially offset by lower realized metal prices, higher operating costs and an increase in taxes compared to Q2, 2014.

Silver and gold revenue amounted to $20,731,379 (2014 – $7,719,057) in the second quarter. Silver sales totalled 515,070 ounces (2014 – 163,026), 216% higher than the same period in 2014. The foregoing silver sales, combined with a 16% lower average realized price of $16.54 (2014 – $19.67) per ounce, resulted in 166% more silver revenue. Total gold revenue in the second quarter increased 124% compared to the same period in 2014. Total gold sales were 11,567 ounces (2014 – 4,743) or 144% above 2014. The Company sold 8,908 (2014 – 3,794) ounces of gold at an average realized price of $1,202 (2014 – $1,296) per ounce, a 7% decline, and delivered 2,659 gold ounces (2014 – 949) under the Sandstorm Purchase Agreement for cash of $357 (2014 – $354) per ounce.

Cost of sales amounted to $10,356,202 (2014 – 3,046,958). Cash operating cost and all-in sustaining cash cost per AgEq ounce sold in Q2, 2015 were $8.05 and $10.97 (Ag: Au 66.7:1) per ounce, respectively, compared to $7.12 and $11.73 (Ag: Au 66.7:1) per ounce in the comparable 2014 quarter. The increase in cash operating cost per AgEq ounce sold for Q2, 2015, is a result of additional direct production costs related to the transition of Santa Elena during 2014 from an open pit heap leach operation to an underground mining and milling operation. The cost increases were partially offset by the benefit of a weaker Mexican Peso. All-in sustaining cash operating cost per AgEq ounce sold decreased from $11.73 to $10.97 primarily from the benefit of a weaker Mexican Peso. Cash operating costs for Q2, 2015 experienced a favorable foreign exchange effect, as the quarterly average Mexican Peso weakened against the U.S. Dollar by 18% compared to Q2, 2014.
Approximately 50% of Q2, 2015 cash operating costs are in Mexican Pesos. (Refer to "Cautionary Note Regarding Non-IFRS Performance Measures").

Depletion, depreciation and amortization increased to $3,080,939 (2014 – $1,577,897) with the incorporation of a depletion charge for the underground mine and depreciation charges for Santa Elena's mill and CCD/MC processing facilities that were not recorded in Q2, 2014.

Proposed Transaction with First Majestic
As announced on July 27, 2015, the Company entered into a definitive agreement ("Arrangement") with First Majestic whereby First Majestic will acquire all of the issued and outstanding shares of SilverCrest for consideration of 0.2769 common shares of First Majestic plus CAD$0.0001 in cash, and 0.1667 common shares of New SilverCrest for each SilverCrest common share held. The transaction excluding New SilverCrest equated to a 37% premium to the SVL share price as of the date of the Arrangement and a 21.4 % ownership in First Majestic by SilverCrest shareholders. In addition to ownership in First Majestic, SilverCrest shareholders will benefit from First Majestic's liquidity in the market place, diversity provided by six operating mines, and management's long history of successful operations in Mexico. A meeting of SilverCrest shareholder's has been called for September 25, 2015 to seek approval for the transaction with closing expected to occur in early October.

OPERATIONAL UPDATE
As of July 31, 2015, the Santa Elena Mine has generally been performing better than operating numbers reported for the first half ("H1"), 2015. Currently, the average underground ore mining rate is 1,200 tonnes per day. Average milling rate is 3,000 tonnes per day with a planned blend of mill feed of 40% underground and 60% leach pad ore. The most significant operational improvement is the increase in silver recoveries from a H1, 2015 average of 68% to a current recovery rate of 85%. Recovery increase is attributed to injection of oxygen and lead nitrate into processing leach tanks. The current annual budget estimate for silver recoveries is 70%.

Q2 FINANCIALS CONFERENCE CALL
A conference call to discuss the results for the 2015 second quarter financial results will be held on Thursday, August 13, 2015. The call will be held at 10am PDT (1pm EDT). To participate in the conference call, please dial the following:

Updated Participant Dial-In Number(s)
Local – Toronto: 1-416-764-8688
Local – Vancouver: 1-778-383-7413
North American toll-free: 1-888-390-0546

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

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects 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 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 kilometres northeast of Hermosillo , near Banamichi in the State of Sonora , Mexico. The mine is a highgrade, epithermal silver and gold producer, with a current reserve estimated life of mine of 8 years and average operating cash costs of $12 per ounce of silver equivalent (64.5:1 Ag:Au based on ounces sold). SilverCrest anticipates the 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average of 1.6 million ounces of silver and 33,800 ounces of gold per annum over the current reserve life. Exploration programs continue to result in discoveries at Santa Elena and have 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. These 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; estimates 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 cash operating costs and outflows; life of mine 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: presence of and continuity of metals at the Company's projects; cost of production and productivity levels at the Santa Elena Mine; availability and costs of mining equipment and skilled labour; accuracy of the interpretations and assumptions used in calculating reserve and resource estimates; operations not being disrupted or delayed by unusual geological or technical problems; and ability to develop and finance projects.

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 the fluctuations in the price of consumed commodities; 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 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; and risks related to governmental regulations and obtaining necessary licenses and permits.

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, except as otherwise required by applicable law.

CAUTIONARY NOTE REGARDING NON-IFRS PERFORMANCE MEASURES
This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under IFRS, "Cash flows from operations before changes in working capital items", "Cash operating cost per AgEq ounce sold", "All-in sustaining cash cost per AgEq ounce sold", "Adjusted earnings" and "Adjusted earnings per share". 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. The data presented 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. Please refer to the Company's MD&A for the six months ended June 30, 2015, for a reconciliation of these measures to reported IFRS results.

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.

More information on SilverCrest Mines on Investorideas at: http://www.investorideas.com/CO/SVL/

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. Disclosure: SilverCrest Mines has compensated Investorideas.com for the distribution and publishing of this news release (annual news publication 9700) http://www.investorideas.com/About/Disclaimer.asp
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




Monday, July 27, 2015

First Majestic announces friendly acquisition of Silvercrest Mines (TSX: SVL) (NYSE MKT: SVLC)

First Majestic announces friendly acquisition of Silvercrest Mines (TSX: SVL) (NYSE MKT: SVLC)

NYSE MKT: SVLC TSX: SVL FrankFurt: CW5
NYSE: AG TSX: FR Frankfurt: FMV Mexico: AG

Vancouver, BC - July 27, 2015 (Investorideas.com Mining Stocks Newswire) First Majestic Silver Corp. ("First Majestic") and SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) (the “Company” or “SilverCrest”) are pleased to announce that the companies have entered into a definitive agreement (the "Arrangement Agreement") pursuant to which First Majestic has agreed to acquire all of the issued and outstanding common shares of SilverCrest for consideration of 0.2769 of a common share of First Majestic (the "Exchange Ratio") plus C$0.0001 in cash per SilverCrest common share. The offer implies a value of C$1.30 per SilverCrest share based on the closing price of First Majestic's common shares on the Toronto Stock Exchange ("TSX") on July 24, 2015. The offer represents a premium of approximately 37% to SilverCrest's 30-day volume-weighted average price ("VWAP") on the TSX for the period ending July 24, 2015 and a 35% premium to SilverCrest's previous closing price. The transaction will be implemented by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). In addition, shareholders of SilverCrest will receive shares in a newly formed company ("New SilverCrest") which will hold certain exploration assets currently held by SilverCrest and First Majestic.

BENEFITS TO FIRST MAJESTIC SHAREHOLDERS
·        Enhances First Majestic's leading position in Mexico, one of the world's most prolific silver and gold regions
·        Accretive to First Majestic's net asset value per share, reserves and total resources per share and production per share
·        SilverCrest's Santa Elena Mine will be First Majestic's sixth producing silver mine adding further growth potential to First Majestic's portfolio of Mexican projects
·        Strengthens First Majestic's balance sheet by adding approximately C$30 million in cash and further enhances the working capital position
·        Provides operational and production synergies with the potential for additional cost cutting
·        Further diversifies production and cash flow across a robust portfolio of producing mines

BENEFITS TO SILVERCREST SHAREHOLDERS
·        Provides SilverCrest shareholders with a highly attractive premium to current market price
·        Opportunity to participate in a leading silver producer through an all-share transaction
·        Gain access to First Majestic's operational and underground mining expertise
·        Diversifies SilverCrest's single asset risk profile and provides exposure to First Majestic's broad portfolio of Mexican assets
·        Increased leverage to silver with First Majestic's primarily silver resource base
·        Enhances capital markets presence with a pro forma market capitalization in excess of C$700 million based on current share prices including increased analyst coverage, trading liquidity and a broader institutional investor base
·        Provides SilverCrest shareholders with ownership in New SilverCrest, a well-capitalized exploration company created to leverage SilverCrest management's exploration expertise

Keith Neumeyer, President & CEO of First Majestic, stated: "We believe this transaction provides an excellent opportunity for the shareholders of both First Majestic and SilverCrest. Shareholders stand to gain significant upside in the combined company with production of well over 20 million silver equivalent ounces per year while maintaining one of the lowest production costs and highest purity to silver in the industry."

J. Scott Drever, CEO of SilverCrest, stated: "We believe the inclusion of SilverCrest's Santa Elena mine into First Majestic's portfolio of operating mines provides the combined company greater flexibility in the current difficult metals market and creates a strong platform from which First Majestic can continue its corporate growth to the benefit of both sets of shareholders. SilverCrest shareholders will benefit from First Majestic's liquidity in the market place, the diversity provided by six mines and Management's long history of successful operations in Mexico. First Majestic shareholders will benefit from SilverCrest's strong balance sheet, free cash flow and low cost silver production. "

TRANSACTION SUMMARY
Under the terms of the Arrangement Agreement, on closing, each SilverCrest shareholder will receive 0.2769 common shares of First Majestic plus C$0.0001 in cash for each SilverCrest common share held. Pursuant to the transaction, First Majestic will issue approximately 32.8 million common shares (assuming no exercise of existing SilverCrest options), valuing SilverCrest's equity at approximately C$154 million, based on current closing prices. Following the completion of the transaction, the current shareholders of SilverCrest will hold approximately 21% of the issued and outstanding shares of First Majestic. The transaction will be carried out by way of a court-approved plan of arrangement and will require the approval of at least 66 2/3% of the votes cast by the shareholders of SilverCrest, and approval by the "majority of the minority", being a majority of the votes cast by SilverCrest shareholders other than J. Scott Drever, N. Eric Fier and Barney Magnusson, whose votes will not be included in determining minority approval pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The transaction will also require the approval of a simple majority of the shareholders of First Majestic in accordance with the rules of the TSX and the NYSE. The special meetings of shareholders of SilverCrest and First Majestic are expected to take place in late September 2015.

The Arrangement will also provide for the issuance by First Majestic of an aggregate of approximately 2.9 million replacement stock options (the "Replacement Options") (assuming no exercise of existing SilverCrest options) to SilverCrest option holders who do not exercise such options prior to the effective time of the Arrangement, at exercise prices adjusted by the Exchange Ratio. All other terms and conditions of the Replacement Options will be the same as the SilverCrest option for which they were exchanged, except that the terms and conditions of the First Majestic stock option plan relating to accelerated expiry of First Majestic options on account of early termination after ceasing to hold office or ceasing to be an employee or consultant will not apply to the Replacement Options.

In connection with the Arrangement, each SilverCrest shareholder will also receive 0.1667 common shares of New SilverCrest for each SilverCrest common share held. As part of the Arrangement, SilverCrest will transfer the Las Chispas, Cruz de Mayo, Angel de Plata, Huasabas and Estacion Llano exploration properties located in northern Mexico, as well as C$5.25 million in cash and certain other assets currently owned by SilverCrest to New SilverCrest. First Majestic will also transfer its Guadalupe exploration property located in Durango, Mexico to New SilverCrest, and First Majestic will own approximately 9.9% of the shares of New SilverCrest following completion of the transaction. SilverCrest's La Joya project will be retained by First Majestic following closing of the transaction, however First Majestic does not have any immediate plans to advance the La Joya project. N. Eric Fier, SilverCrest's Chief Operating Officer, will be the CEO and President of New SilverCrest along with other members of SilverCrest's current board and management team. New SilverCrest intends to make application to list its shares on the TSX Venture Exchange.

In addition to shareholder, court and creditor approvals, the transaction is subject to applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature.

The Arrangement Agreement includes customary provisions, including non-solicitation of alternative transactions, right to match superior proposals and fiduciary-out provisions. In addition, SilverCrest has agreed to pay a termination fee to First Majestic of C$8 million upon the occurrence of certain events. First Majestic and SilverCrest have each agreed to pay a C$1 million expense reimbursement fee to the other party upon termination of the Arrangement Agreement due to the occurrence of certain other events.

The Board of Directors of SilverCrest has unanimously approved the transaction and will provide a written recommendation that SilverCrest shareholders vote in favour of the transaction which will be included in the Information Circular to be mailed to shareholders in connection with the Arrangement. Each of the directors and senior officers of SilverCrest, who hold in the aggregate approximately 3.9% of the issued and outstanding SilverCrest shares (assuming no exercise of existing SilverCrest stock options) have entered into a voting agreement with First Majestic and have agreed to vote in favour of the transaction at the special meeting of SilverCrest shareholders to be held to consider the Arrangement.

Full details of the Arrangement will be included in a joint Management Information Circular to be filed with the regulatory authorities and mailed to SilverCrest and First Majestic shareholders in accordance with applicable securities laws. SilverCrest and First Majestic expect to mail the joint Management Information Circular in early September 2015.

ADVISORS AND COUNSEL
Cormark Securities Inc. ("Cormark") acted as exclusive financial advisor and McCullough O'Connor Irwin LLP acted as legal counsel to First Majestic. Cormark has provided an opinion to the First Majestic Board of Directors that, based upon and subject to the assumptions, limitations and qualifications in the opinion, the consideration being offered by First Majestic to SilverCrest pursuant to the transaction is fair, from a financial point of view, to First Majestic.

National Bank Financial Inc. ("National Bank") acted as exclusive financial advisor and Koffman Kalef LLP acted as legal advisor to SilverCrest. National Bank has provided an opinion to the Board of Directors of SilverCrest that, based upon and subject to the assumptions, limitations, and qualifications in the opinions, the consideration to be received is fair, from a financial point of view, to the shareholders of SilverCrest.

CONFERENCE CALL
First Majestic and SilverCrest will host a joint conference call and webcast on July 27, 2015 at 2:00 pm Eastern time / 11:00 am Pacific time for members of the investment community to discuss the proposed transaction. The callin details are as follows:

Toll Free Canada & USA: 1-800-319-4610
Outside of Canada & USA: 1-604-638-5340
Toll Free Germany: 0800 180 1954
Toll Free UK: 0808 101 2791

Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call at www.firstmajestic.com.

The Conference call will be recorded and you can listen to an archive of the conference by calling:

Toll Free Canada & USA:1-800-319-6413
Outside of Canada & USA:
1-604-638-9010
Pin Code: 3928

An archived webcast of the conference call will also be available at www.firstmajestic.com.


ABOUT FIRST MAJESTIC
First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.

For further information, contact info@firstmajestic.com, visit our website at www.firstmajestic.com or contact Todd Anthony, Investor Relations at 1.866.529.2807.

ABOUT SILVERCREST
SilverCrest is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%owned Santa Elena Mine, located in the State of Sonora, Mexico. The operation comprises a highgrade, epithermal silver and gold deposit, along with a 3,000 tpd conventional milling facility. Santa Elena is projected to produce in a range of 4.7 to 5.1 million silver equivalent ounces in 2015.
For further information, contact SilverCrest at 1.866.691.1730 or via our website online at www.silvercrestmines.com.

ON BEHALF OF THE BOARD OF
FIRST MAJESTIC SILVER CORP.
"Keith Neumeyer"
Keith Neumeyer
President & CEO

ON BEHALF OF THE BOARD OF
SILVERCREST MINES INC.
"J. Scott Drever"
J. Scott Drever
CEO

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: anticipated benefits of the Arrangement to First Majestic, SilverCrest and their respective shareholders; the timing and receipt of required shareholder, court, stock exchange, creditor and regulatory approvals for the Arrangement; the ability of First Majestic and SilverCrest to satisfy the other conditions to, and to complete, the Arrangement; the anticipated timing of the mailing of the joint information circular regarding the Arrangement; the closing of the Arrangement; the listing of the New SilverCrest shares on the TSX Venture Exchange; the development of the Santa Elena Mine; future silver production; analyst coverage, liquidity and institutional shareholdings of First Majestic shares; future growth potential for First Majestic, SilverCrest and their respective businesses; future plans for the La Joya property; future mine development plans; estimates regarding the life of and recovery of minerals at the Santa Elena mine; and estimates of production costs.
In respect of the forward-looking statements and information concerning the anticipated completion of the proposed Arrangement and the anticipated timing for completion of the Arrangement, the parties have provided them in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the time required to prepare and mail shareholder meeting materials, including the required joint management information circular; the ability of the parties to receive, in a timely manner, the necessary shareholder, court, stock exchange, creditor and regulatory approvals; and the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement. These dates may change for a number of reasons, including unforeseen delays in preparing meeting material; inability to secure necessary shareholder, court, stock exchange, creditor and regulatory approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.
Forward-looking information relating to future silver production, analyst coverage, liquidity and institutional shareholdings of First Majestic shares, future growth potential for First Majestic, SilverCrest and their respective businesses, future mine development plans, estimates regarding the life of and recovery of minerals at the Santa Elena mine, and estimates of production costs is based on management of the applicable parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; costs of development and production; estimated production rates for silver and other metals produced by the parties; the estimated costs of development of development projects; First Majestic and/or SilverCrest's ability to operate in a safe and effective manner and their ability to obtain financing on reasonable terms.
These statements reflect the parties' respective current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or information and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: satisfaction or waiver of all applicable conditions to closing of the Arrangement including, without limitation, receipt of all necessary shareholder, court, stock exchange, creditor and regulatory approvals or consents and lack of material changes with respect to First Majestic and SilverCrest and their respective businesses, all as more particularly set forth in the Arrangement Agreement; the synergies expected from the Arrangement not being realized; business integration risks; fluctuations in general macro-economic conditions; fluctuations in securities markets and the market price of First Majestic's shares; fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Canadian dollar and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada or Mexico; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the parties do business; inability to obtain adequate insurance to cover risks and hazards; and the presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Mexico; employee relations; relationships with and claims by local communities and indigenous populations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; diminishing quantities or grades of mineral reserves as properties are mined; title to properties; and the factors identified under the caption "Risk Factors" in First Majestic's Annual Information Form, and under the caption "Risk Factors" in SilverCrest's Annual Information Form. In addition, the failure of a party to comply with the terms of the Arrangement Agreement may result in that party being required to pay a non-completion or other fee to the other party, the result of which could have a material adverse effect on the paying party's financial position and results of operations and its ability to fund growth prospects and current operations.
Readers are cautioned against attributing undue certainty to forward-looking statements or information. Although the parties have attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The parties do not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

Published at Investorideas.com Newswire

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