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Thursday, May 28, 2015

Goldsource (TSX-V: GXS) Announces Construction Update at Eagle Mountain Gold Project

TSX Mining News: Goldsource (TSX-V: GXS) Announces Construction Update at Eagle Mountain Gold Project

VANCOUVER, BC - May 28, 2015 (Investorideas.com mining stocks newswire) Goldsource Mines Inc. ("Goldsource" or the "Company") is pleased to announce that construction at its Eagle Mountain Gold Project ("Eagle Mountain") located in Guyana, South America is progressing on schedule and currently on budget. Goldsource anticipates commissioning for Phase I production to take place by Q4, 2015. Phase I development anticipates a 1,000 tonnes per day open pit gravity plant with estimated pre-production capital costs of US$5.9 million and post-commissioning cash operating costs of under US$500 per ounce of gold. All current plans are based on the Preliminary Economic Assessment ("PEA") Technical Report prepared for the Company, dated effective June 15, 2014, and filed September 16, 2014 on SEDAR at www.sedar.com. Further details on the PEA are also provided in the Company’s news release, dated July 31, 2014, available on the Company’s website at www.goldsourcemines.com.

Yannis Tsitos, President and Director stated, "We are pleased with Eagle Mountain’s construction progress with the first shipment of processing plant equipment on budget and schedule in June. This new equipment will include two SB2500 Falcon concentrators, gold recovery room, refinery, pumps, electrics and on-site laboratory. We have assembled a strong team of experienced professionals to manage the construction of Eagle Mountain and fully expect to deliver Phase I on-time and budget."

The most significant construction activities are as follows:
·        Detailed engineering of Sepro processing plant (100% completed).
·        Construction of gold processing plant (100 tonnes per hour) from Sepro Minerals Systems Corp., Langley, Vancouver, British Columbia to be delivered to Guyana in two packages, as follows:
·        Package #1 to be delivered to Guyana in Q2 2015 from Canada and the United Kingdom (95% completed).
·        Package #2 to be delivered to Guyana in Q3 2015 from Canada and Mexico (20% completed).
·        Rehabilitation of the existing 10-kilometre road between Mahdia town (commercial airport) and Eagle Mountain camp including construction of eight new bridges (75% completed).
·        Procurement & purchase of mining equipment including the most recent acquisition of a new excavator and loader (50% completed).
·        Pre-production auger drilling program for confirmation and condemnation (75% completed). See comment below on initial results.
·        Recruitment of key operations personnel (15% completed).
·        Camp facility rehabilitation and upgrades (15% completed).
·        Site preparation of plant and initial mining area (10% completed).
·        Procurement & purchase of secondary gold processing plant for exploiting existing old tailings area (10% completed).

Q1 2015 condemnation auger drilling under the proposed processing plant area has encountered near surface mineralization of up to 6 metres (0.0 to 6.0 metres, total auger depth) grading 2.0 gpt Au. Mineralization encountered is outside of the PEA resource estimation. Further drilling is underway to decide if moving the proposed plant site is warranted. Since the processing plant requires minor site preparation, relocation to a "non-mineralized" area (several available) is obtainable with no disruption to the current construction schedule or budget.

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, Chief Operating Officer for Goldsource, who has reviewed and approved its contents.


ABOUT GOLDSOURCE MINES INC.
Goldsource Mines Inc. (www.goldsourcemines.com) is a Canadian resource company that is progressing its advanced-stage, 100%-owned Eagle Mountain Gold Project in Guyana towards initial staged production in 2015. Goldsource is led by an experienced management team, proven in making exploration discoveries, achieving construction on time and budget, and fast tracking production.

Ioannis (Yannis) Tsitos
President & Director
Goldsource Mines Inc.

For Further Information:
IGoldsource Mines Inc.
Contact: Ioannis (Yannis) Tsitos, President

Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1760
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1760 (Canada & USA)
Email:
info@goldsourcemines.com
Website:
www.goldsourcemines.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such forward looking statements concern Goldsource’s strategic plans and expectations in the PEA for the development of the Eagle Mountain Gold Project; the amount of future production of gold over any period; cash operating costs per ounce of gold; life of mine; estimated pre-production cost; and the Company’s ability to be a low cost producer in 2015. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; ability to realize the PEA and develop and finance the project; accuracy of the interpretations and assumptions used in calculating inferred mineral resource estimates; availability of mining equipment; availability of skilled labour; timing and amount of capital expenditures; performance of available laboratory and other related services; and future operating costs. The actual results could differ materially from those anticipated in these forward looking statements as a result of the risk factors including: 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 estimations; uncertainty as to actual capital costs, operating costs, production and economic returns at the Eagle Mountain Gold Project; reliance on the PEA; 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, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. 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.

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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 
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.


Thursday, May 14, 2015

SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Announces Q1, 2015 Financial Results Cash Flow from Operations of $7.3 million ($0.06 per share) Net Earnings of $2.5 million ($0.02 per share)

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Announces Q1, 2015 Financial Results Cash Flow from Operations of $7.3 million ($0.06 per share) Net Earnings of $2.5 million ($0.02 per share)

Vancouver, BC - May 14, 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 first quarter (“Q1”) ended March 31, 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 months ended March 31, 2015 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.

FINANCIAL HIGHLIGHTS OF Q1, 2015, COMPARED TO Q1, 2014
·        Cash flow from operations (1) (2) was $7.3 million ($0.06 per share, basic and diluted), an increase of 10%.
·        Cash operating cost per AgEq ounce sold (2)(3) was $8.49, an increase of 28%.
·        All-in sustaining cash cost per AgEq ounce sold (2)(3) was $11.25, an increase of 25% .
·        Revenues increased 50% to $19.5 million.
·        Metal sales of 413,250 ounces of silver and 11,748 ounces of gold increased 108% and 54%, respectively.
·        Realized average spot metal prices declined from $20.70 to $16.62 (20%) for silver and from $1,319 to $1,196 (9%) for gold.
·        Net earnings remained consistent at $2.5 million ($0.02 per share, basic and diluted).
·        Adjusted earnings (2) increased 48% to $4.0 million ($0.03 per share, basic and diluted).
·        Cash and cash equivalents totalled $35.2 million (at March 31, 2015), compared to $54.5 million (at March 31, 2014).
·        Working capital was $45.4 million (at March 31, 2015), compared to $63.7 million (at March 31, 2014).
·        Bullion inventory at March 31, 2015 included 82,445 (2014 - 59,114) ounces of silver and 2,524 (2014 - 2,084) ounces of gold.
·        Scotiabank Credit Facility $15.0 million drawn from $30.0 million available (at March 31, 2015).

J. Scott Drever, Chief Executive Officer, stated ; "We are pleased with the strong start to 2015. Santa Elena's record AgEq (3) production delivered solid Q1, 2015 financial results, generating cash flow from operations (1) (2) of $7.3 million and net earnings of $2.5 million. We are confident in Santa Elena's ability to continue to generate positive cash flows during 2015, notwithstanding the lower precious metals price environment. We are pleased our tight cost control measures and record production resulted in cash operating cost (1) (2) of $8.49 per AgEq (3) ounce sold and all-in sustaining cash cost (2) of $11.25 per AgEq (3) ounce sold. These cash operating numbers came in below our annual cost guidance range and continue to make us one of the lowest cost precious metal producers. We continue to have a strong balance sheet at the end of Q1, 2015 with $35.2 million in cash and cash equivalents, working capital of $45.4 million and undrawn credit facility of $15 million. SilverCrest is well situated to further strengthen its balance sheet in the upcoming quarters as underground production rates and grades continue to improve and mill recoveries rates continue above 92% for gold and 75% for silver. SilverCrest maintains its 2015 corporate production guidance range of 4.0 - 4.4 million AgEq (3) ounces for 2015".



·        Cash flow from operations before changes in working capital items .
·        These are Non-IFRS performance measures. Refer to "CAUTIONARY NOTE REGARDING NON-IFRS PERFORMANCE MEASURES".
·        Silver equivalent ("AgEq") ratio for Q1, 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 March 31, 2015, to March 31, 2014
Net earnings were $2,511,581 ($0.02 per share basic and diluted) for the first quarter compared with $2,467,989 ($0.02 per share basic and diluted) in the first quarter of 2014. The small increase in net earnings in the first quarter was primarily attributed to a significant increase in ounces produced offset by lower metal prices and an increase in mine operating costs.

Silver and gold revenue amounted to $19,512,360 (2014 - $13,005,527) in the first quarter. Silver sales totalled 413,250 ounces (2014 - 198,800), 108% higher than the same period in 2014. The foregoing, combined with a 20% lower average realized price of $16.62 (2014 - $20.70) per ounce, resulted in 67% more silver revenue. Total gold revenue in the first quarter increased 42% compared to the same period in 2014. Total gold sales were 11,748 ounces (2014 - 7,650) or 54% above 2014. The Company sold 9,524 (2013 - 6,120) ounces of gold at an average realized price of $1,196 (2014 - $1,319) per ounce, a 9% decline, and delivered 2,224 gold ounces (2014 - 1,530) under the Sandstorm Purchase Agreement at $354 per ounce.

Cost of sales amounted to $10,157,498 (2014 - $4,686,523). Cash operating cost and all-in sustaining cash cost per AgEq ounce sold in Q1, 2015 were $8.49 and $11.25 (Ag:Au 66.7:1) per ounce, respectively, compared to $6.63 and $9.01 (Ag:Au 66.7:1) per ounce in the comparable 2014 quarter. The increase in cash operating cost per AgEq ounce sold for Q1, 2015, is a result of additional direct production costs due to the transition of Santa Elena during 2014 from an open pit heap leach operation to an underground mining and milling operation. The increase in all-in sustaining cash operating cost per AgEq ounce sold for Q1, 2015, is a result of higher production costs and the inclusion of Santa Elena's sustaining underground development, infrastructure and equipment costs. The first two quarters of 2015 are estimated to be the lower cash cost quarters while SilverCrest mines the remaining open pit reserves at Santa Elena. The Company may revise its cost guidance at the end of Q2, 2015, but currently expects its average 2015 cash cost to range $10 - $11 per AgEq ounce sold and average all-in sustaining cash cost to range $14 - $15 per AgEq ounce sold. Cash operating costs for Q1, 2015 experienced a favourable foreign exchange effect, as the quarterly average Mexican Peso rate weakened against the U.S. Dollar by 13% compared to Q1, 2014. Approximately 50% of Q1, 2015 cash operating costs are in Mexican Pesos. (Refer to "Cautionary Note Regarding Non-IFRS Performance Measures").

Depletion, depreciation and amortization increased to $3,013,434 (2014 - $1,721,406) 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 Q1 2014.

Current income tax expense amounted to $97,000 (2014 - $2,243,000). The decrease in income tax expense compared with Q1, 2014, is primarily attributable to the Company taking a 100% tax deduction for development costs incurred at Santa Elena.

Deferred tax expense amounted to $1,564,000 (2014 - recovery $2,000). The increase in deferred tax expense is primarily due to differences between the financial statement carrying amounts and the respective Mexican tax bases resulting from the development cost deductions taken for income tax purposes.

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 underground ore production rates to 1,500 tpd by the end of 2015 to achieve an average rate of 1,320 tpd for fiscal 2015, (iii) expand resources and associated reserves at Santa Elena by continued systematic exploration of the deposit, (iv) continue to evaluate and acquire low cost exploration properties in proximity to Santa Elena, (v) update the La Joya resource model for a new resource estimate in 2015, and (vi) manage a strong cash position to support growth while sustaining existing operations.

Q1 FINANCIALS CONFERENCE CALL
A conference call to discuss the results for the 2015 first quarter financial results will be held on Thursday, May 14, 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.

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. 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



Thursday, May 07, 2015

SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Accelerates Exploration of High Grade El Cholugo Zone at Santa Elena Mine

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Accelerates Exploration of High Grade El Cholugo Zone at Santa Elena Mine

Vancouver, BC - May 7, 2015 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) is pleased to announce initial results of its accelerated underground exploration of the El Cholugo Zone ("El Cholugo" or the "Zone") located immediately adjacent to the Main Mineralized Zone ("MMZ") currently in production at the Santa Elena Mine, Sonora, Mexico. SilverCrest's recently released technical report titled, "Update to Santa Elena Pre-Feasibility Study, Sonora, Mexico" ("PFS"), contemplated the exploration and development of El Cholugo in 2016. However, the high gold and silver grades over significant widths and lateral dimensions encountered underground has led the Company to accelerate exploration and development of the Zone with the view to its inclusion in this year's (2015) mine plan. Please refer to attached figures and news release dated March 31, 2015 available on the Company's website at www.silvercrestmines.com for more information.

The El Cholugo Zone is a drill-identified epithermal vein system that intersects the MMZ at an oblique angle (see attached figures). Previous drilling has shown at least two mineralized veins in the Zone, Alejandra and El Cholugo Dos, to range from 1 to 15 metres wide over a strike length of approximately 200 metres and a height of an estimated 150 metres. From previous drilling, the average width of the Alejandra vein is estimated to be 3.2 metres and for El Cholugo Dos vein, 1 to 5 metres. The Company is currently drifting on three levels (625m, 600m, and 575m elevations) from underground at Alejandra. Geometry of the mineralization is favorable for mining by long hole stoping method. Underground drifting on the Alejandra vein to date totals approximately 100 metres on three levels. The Company will also be exploring underground on the 655m level in Q2, 2015. Once the Alejandra vein is sufficiently defined, it may be partially incorporated into the 2015 mine plan. For reference, current PFS estimates for El Cholugo Reserves (cut and diluted) are 251,800 tonnes grading 2.58 gpt Au and 147.1 gpt Ag.

N. Eric Fier, CPG, P.Eng., and COO stated; "The accelerated exploration of El Cholugo is showing very encouraging results to date. The high grade silver and gold values that we are currently seeing from underground drift exploration are exceeding our expectations with respect to currently stated PFS Reserves. This makes El Cholugo a priority target which could potentially add to future underground production when practical. Additional drifting and underground drilling at El Cholugo will be completed over the next several months to confirm and potentially expand current reserves and resources."

A total of 132 composited assay results (see table below and attached figures) from mine face channel sampling of Alejandra underground drifting show an average vein width of 3.3 metres grading 8.80 gpt Au and 419.4 gpt Ag.



All sample analyses were completed onsite at Santa Elena's production laboratory. Internal QA/QC protocols are comparable to industry standards.

For comparison purposes, current MMZ ore grades being mined from underground in April, 2015 are approximately 1.9 gpt Au and 127 gpt Ag. The highest grade individual sample collected to date from the Alejandra vein is on the 575m level over a width of 0.6 metres grading 108.8 gpt Au and 2,705 gpt Ag (uncut and undiluted).

ADDITIONAL OPERATIONS UPDATE
The Company continues to review underground reserve reconciliations with mined stopes (2 and 3, see attached figures) versus PFS reserve model. Indications from reconciliations on Stopes 2 and 3 appear to be higher grade than PFS reserves. Also, the Company continues to optimize gold and silver recoveries based on a higher cyanide levels in the mill and introduction of aeration (pressurized air) into the leach tanks. Currently gold recoveries are above 92% and silver recoveries are averaging 75%. Silver recoveries are 23% higher than previously reported in the first quarter, 2015. Additional metallurgical testwork is underway to further optimize sustainable silver recoveries at or above 70% as forecasted.

Q1 FINANCIALS CONFERENCE CALL
SilverCrest has scheduled the release of its unaudited first quarter financial statements and MD&A after market close on Wednesday, May 13, 2015. A conference call to discuss the results for the 2015 first quarter financial results will be held on Thursday, May 14, 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 COO for SilverCrest, 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.

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. 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





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