GOLDSOURCE (TSX-V:GXS; FWB:G5M) ANNOUNCES MINING PERMIT ON EAGLE MOUNTAIN GOLD PROJECT IN GUYANA

TSX Mining News Alert: Goldsource (TSX-V:GXS; FWB:G5M) ANNOUNCES Mining Permit ON EAGLE MOUNTAIN GOLD PROJECT IN GUYANA

VANCOUVER, BC – August 26, 2014 - (Investorideas.com Mining Stocks Newswire) Goldsource Mines Inc. (TSX-V:GXS; FWB:G5M.F) (“Goldsource” or the “Company”) is pleased to announce the granting of a Medium Scale Mining Permit No 637/2014 (the “Permit”) to Kilroy Mining Inc. (“Kilroy”), issued by the Guyana Geology and Mines Commission for operations on a 250 hectare portion (the “Property”) of Goldsource’s Eagle Mountain gold deposit located within the approximately 5,050 hectare Eagle Mountain prospecting license (“Eagle Mountain PL”).  The Permit grants permission to mine gold, diamonds, precious metals and precious minerals within the Permit area located in Potaro Mining District #2. 

The Eagle Mountain PL is held by the Company’s 100%-owned subsidiary in Guyana, Stronghold Guyana Inc. (“Stronghold”).  As a medium scale mining permit is required under Guyana law to be held by a Guyanese national, Stronghold has entered into agreements with Kilroy, a private arm’s length Guyanese company pursuant to which Stronghold and Kilroy will jointly operate the Property.  Kilroy is the holder of the Permit and has granted to Stronghold the exclusive right to conduct mining operations on the Property including any additional areas acquired by Kilroy.  Stronghold will fund all expenditures on the Property and receive 100% of all revenues, subject to applicable government royalties and a 2% net smelter return royalty to Kilroy as compensation for its participation.

Ioannis (Yannis) Tsitos, Goldsource's President stated: “Following the recent announcement of the positive results of our Preliminary Economic Assessment for the Eagle Mountain gold deposit, we are extremely pleased with the grant of the Permit. The project is now fully permitted for mining activities and ready for construction financing and subsequent Phase One development, as described in our News Release of July 31, 2014. The Company and its management are working aggressively with a staged production growth strategy to deliver real value to shareholders and to all other project stakeholders.”

As part of the agreement, Goldsource agreed to issue to Kilroy 250,000 common shares of the Company, subject to a 12-month hold period and the approval of the TSX Venture Exchange.

ABOUT GOLDSOURCE MINES INC.

Goldsource Mines Inc. (www.goldsourcemines.com) is a Canadian resource company that is working aggressively to develop its advanced-stage, 100%-owned Eagle Mountain gold project in Guyana towards initial staged production in 2015. The project has a NI 43-101 resource of 188,000 Indicated and 792,000 Inferred gold ounces, with strong potential to expand its resources. The project is also covered by a Preliminary Economic Assessment that sets out the economic parameters for the development. Goldsource Mines 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.  

                                                                  

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward‑looking statements concern Goldsource’s anticipated consolidated results and developments in Goldsource’s consolidated operations in future periods, planned exploration and development of the Eagle Mountain Gold Project, plans related to its business and other matters that may occur in the future.  These statements relate to analyses and other information that are based on expectations of future performance, including gold production and planned work programs. Statements derived from mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the Eagle Mountain property is developed.

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 Guyanese dollar, Canadian dollar and United States dollar); risks related to the inherently dangerous activity of mining, including conditions or events beyond control of Goldsource, and operating or technical difficulties in mineral exploration, development and mining activities; uncertainty in the Goldsource’s ability to raise financing and fund the development of the Eagle Mountain Gold Project; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in a profitable mining operation at the Eagle Mountain Gold Project; risks related to mineral resource figures being estimates based on interpretations and assumptions; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risks related to the global economy; risks related to the Eagle Mountain Gold Project being located in Guyana, including political, economic, social and regulatory instability. 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 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.

For Further Information:

Goldsource 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 the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Visit this company: Goldsource 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: Goldsource Mines Inc. is an annual member of the Investorideas newswire service and compensates the company for news dissemination ($7500 - discounted)

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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SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Reports Q2 2014 Financial Results

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Reports Q2 2014 Financial Results

Cash Flow from Operations of $3.1 million, Net Earnings of $1.3 million

VANCOUVER, BC - August 13, 2014 – (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (the “Company”) (TSX:SVL) ( NYSE MKT: SVLC) is pleased to announce its financial results for the second quarter ended June 30, 2014. All financial information is prepared in accordance with 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, 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; “As expected, SilverCrest’s second quarter financial results reflect Santa Elena’s lower production numbers during the transition from an open pit, heap leach operation to an underground mine and milling circuit. With the major milestone of mill commissioning accomplished in early August, SilverCrest’s immediate focus turns to underground stope production. Expected increases in ore grades fed to the mill, combined with potential higher metal recoveries, should result in the Company achieving the lower end of our 2014 production guidance of approximately 3.3 million AgEq⁽²⁾ ounces. With all major expansion capital expenditures complete, SilverCrest is now well situated to increase its cash position of $40.9 million (June 30, 2014) with near-term free cash flow from operation.”

FINANCIAL HIGHLIGHTS OF Q2, 2014, Compared to Q2, 2013:

·        Cash flow from operations ⁽¹⁾ decreased 45% to $3.1 million ($0.03 per share).   

·        Cash operating cost per silver equivalent ounce sold ⁽²⁾ decreased 2% to $7.66.

·        All-in sustaining cash cost per silver equivalent ounce sold ⁽²⁾ decreased 5% to $12.62.

·        Revenue decreased 41% to $7.7 million.

·        Metal sales of 163,026 ounces of silver and 4,743 ounces of gold decreased 10% and 36%, respectively.

·        Realized spot metal prices declined from $22 to $20 (9%) for silver and from $1,365 to $1,296 (5%) for gold. 

·        Net earnings were $1.3 million ($0.01 per share), compared to $2.9 million ($0.03 per share).

·        Cash and cash equivalents were $40.9 million (at June 30, 2014), compared to $29.6 million (at June 30, 2013).

·        Working capital was $44.5 million (at June 30, 2014), compared to $41.6 million (at June 30, 2013).

·        Bullion inventory at June 30, 2014, included 69,000 ounces of silver and 1,330 ounces of gold.

 

Comparison of the three months ended June 30, 2014, to June 30, 2013

Net earnings were $1,314,350 ($0.01 per share basic) for the second quarter compared with $2,866,080 ($0.03 per share basic) in 2013. The decrease in net earnings during the second quarter was primarily attributed to reduced revenues from lower silver and gold sales at lower realized prices. The decrease in silver and gold production was primarily related to the closure of the open pit on April 4, 2014, three months ahead of schedule, with subsequent reduced production from the leach pad.

Silver and gold revenue totaled $7,719,057 (2013 - $13,028,258) in the second quarter. Silver sales totaled 163,026 ounces including capitalized underground ounces (2013 - 181,398), 10% lower than for the same period in 2013. The foregoing, combined with a 9% lower average realized silver price of $20 (2013 - $22) per ounce, resulted in 18% lower silver revenue. Total gold revenue reported in the second quarter decreased 40% compared to the same period in 2013. Total gold sales were 4,743 ounces including capitalized underground ounces (2013 - 7,375), or 36% below 2013. The Company sold 3,794 (2013 - 5,900) ounces of gold at an average realized gold price of $1,296 (2013 - $1,365) per ounce, a 5% decline. The Company delivered 949 gold ounces (2013 - 1,475) under the Sandstorm Purchase Agreement at $350 per ounce.   

Cost of sales amounted to $3,046,958 (2013 - $5,047,895). Cash cost per silver equivalent ounce sold for the second quarter was $7.66, Ag:Au 60.0:1 (2013 - $7.80, Ag:Au 63.2:1). The decrease in operating cash cost per silver equivalent ounce sold was driven by the reduction in direct production costs during the second quarter as a result of the closure of the open pit and elimination of open pit mining costs.

⁽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 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. All numbers are rounded.

2014 PRODUCTION GUIDANCE UPDATE

Management now anticipates total production from Santa Elena in 2014 to be at the low end of our original guidance (3.3 to 3.6 million AgEq ounces). Underground stope production, due to start in August, will increase through-put grades to the new mill and therefore higher levels of gold and silver ounces for the rest of the year. As anticipated, production is heavily weighted for H2 2014 to achieve guidance. 

OUTLOOK

SilverCrest’s immediate focus is to (i) continue the efficient operation of its flagship Santa Elena low cost silver and gold mine, (ii) complete initial underground stope production, (iii) expand resources and subsequent reserves at Santa Elena by systematic exploration of the deposit, (iv) evaluate and acquire exploration properties in proximity to Santa Elena and drill test some targets in 2014, (v) complete evaluation of certain aspects  of the La Joya Project to a Pre Feasibility Study level in 2014.

Q2 FINANCIALS CONFERENCE CALL

A conference call to discuss the results for the unaudited Q2 2014 financials will be held on Thursday, August 14^th. 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: 1-416-640-5942

North American Toll- Free: 1-866-222-0265

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 high‐grade, epithermal silver and gold producer, with an estimated life of mine of 8 years and 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 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 significantly increase metals production at the Santa Elena Mine in 2014 and beyond. Exploration programs continue to make 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. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.

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 the Company’s status as a foreign private issuer in the United States; risks related to all of the Company’s material properties being located in Mexico, 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 information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.

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 International Financial Reporting Standards ("IFRS"), “Cash flows from operations before changes in working capital items”, “Cash operating cost per silver equivalent ounce sold” “All-in sustaining cash cost per silver equivalent ounce sold”, 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 three and six months ended June 30, 2014, 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.

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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SilverCrest Mines (TSX: SVL) (NYSE MKT: SVLC) Announces Completion of Mill Commissioning Major Milestone Achieved as Growth Continues

Mining Stocks News: SilverCrest Mines (TSX: SVL) (NYSE MKT: SVLC) Announces Completion of Mill Commissioning Major Milestone Achieved as Growth Continues

Vancouver, BC - August 11, 2014 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) ( NYSE MKT: SVLC) is pleased to announce that the new 3,000 tonne- per-day ("tpd") mill and facilities (CCD-Merrill Crowe recovery) at its 100% owned Santa Elena Mine has been successfully commissioned. The commissioning period began in early May, 2014, and planned for 3 months of ramp-up, which was completed as of August 1, 2014. The Santa Elena Mine is currently transitioning from an open pit heap leach operation to a conventional 3,000 tpd conventional mill facility and underground operation. For additional information and to view photos and videos, please visit the Company's website at www.silvercrestmines.com.

N. Eric Fier, President and COO stated; "The announcement of commissioning completion for the new Santa Elena mill and facilities is another major milestone achieved as SilverCrest continues systematic and responsible growth. Our dedicated construction, commissioning and operating teams should be congratulated on their continued efforts toward achieving targets under strict schedules and cash control protocols. We will continue to adjust and optimize all the components of the facilities in efforts to achieve through-put tonnages at or above the nameplate capacity of 3,000 tpd. Our near term focus now turns to achieving further milestones, including underground stope production in August and free cash flow in Q3, 2014."

In determining commissioning completion, management considered the following criteria;

·        Achieving greater than 80% of nameplate capacity (3,000 tpd) over a reasonable period of continuous production.

·        Achieving average startup recovery rates of 82% gold and 65% silver. Average mine life recovery rates are projected at 92% gold and 67.5% silver.

·        Dore production from the new mill exceeding budget estimates.

·        All major components of the mill and facilities completed and operating to the satisfaction of management and independent commissioning team.

·        Completion of budgeted capital expenditures.

·        Achieving positive operating cash flows from expanded operations including mill.

For 30 continuous days through to early August, 2014, the mill through-put ranged from 1,485 to 3,144 tpd and achieved an average of 2,524 tpd or 84% of the 3,000 tpd nameplate capacity. In July, 1,516 ounces of gold and 81,818 ounces of silver (excluding residual leached ounces from pad production) were produced and which exceeded budgeted production of 1,255 ounces of gold and 74,325 ounces of silver. Startup recoveries of gold and silver in July were 82% and 65%, respectively, compared to budgeted start up recoveries of 83% and 62%. All of the above commissioning criteria have been met to the satisfaction of management.

As planned, the mill feed during the commissioning period came from the leach pad reserve (pad ore). Blending of higher grade underground ore is expected to commence during Q3, 2014. Approximately, 69,000 tonnes of pad ore that was milled in July graded 0.84 gpt Au and 56.80 gpt Ag, which are approximately 33% higher for gold and 58% higher for silver than budgeted grades of 0.63 gpt Au and 36.0 gpt Ag.

Underground stope production is the next milestone in the transition plan at Santa Elena. Production from the first underground stope is planned for August. This initial stope will be mined using standard long hole stoping methods. As of July 31, a pproximately 32,225 tonnes of underground development ore have been stockpiled for mill processing in Q3, 2014. The average stockpile grade is 1.63 gpt Au and 118.91 gpt Ag, which is consistent with current reserve models.

Q2 FINANCIALS CONFERENCE CALL

SilverCrest Mines has scheduled the release of its unaudited second quarter financial statements and MD&A after market close on Wednesday August 13, 2014.

A conference call to discuss the results for the unaudited Q2 2014 financials will be held on Thursday, August 14 th. 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: 1-416-640-5942

North American Toll- Free: 1-866-222-0265

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

Read this release in full at http://www.investorideas.com/CO/SVL/news/2014/08111.asp

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 and 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 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 significantly increase metals production at the Santa Elena Mine in 2014 and beyond. Exploration programs continue to make 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. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.

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 the Company’s status as a foreign private issuer in the United States; risks related to all of the Company’s material properties being located in Mexico, 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 information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.

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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TSX Mining Stocks: Garibaldi (TSXV:GGI, OTC:GGIFF, Frankfurt:RQM) advances Silver Eagle target at Rodadero

VANCOUVER - June 19, 2014 (Investorideas.com Mining stocks newswire) Further to its news release of May 14, 2014, Garibaldi Resources Corp. (the "Company" or "Garibaldi") is pleased to provide this progress report as drilling continues at the Silver Eagle target, Rodadero North in central Sonora State, Mexico. A fourth hole is now under way to test the geometry and dimensions of a promising high-grade, near-surface structure. Pending additional assay results are eagerly anticipated and will be released as they become available.

Following the discovery of a 7-meter section grading 2,010 g/t Ag (65 oz/ton) in hole SE-14-01, and after encountering exceptionally hard mineralized sulphide bearing quartz rock in SE-14-02 (collared 50 meters to the south), Garibaldi contracted a commercial diamond drill rig to complete the second hole. The larger rig using HQ core is successfully penetrating the rock within the target zone at Silver Eagle and is also providing better core recovery than the company-owned diamond drill.
Mineralization at Silver Eagle consists of an apparently flat-lying silicified zone or cap of brecciated rock exposed on a hill. Mineralized structures cross this silicified zone and may form a tabular root or feeder zone to the silicification.
The Silver Eagle target is one of eight prospects defined at Rodadero North along a 10-km NW-SE trend. Garibaldi's regional exploration efforts at Rodadero featured the use of hyperspectral remote sensing technology followed by a ground program of mapping and sampling which produced highly encouraging results.
Surface sampling results from Silver Eagle, the first target to be drilled at Rodadero, ranged from anomalous to 1,840 g/t Ag. Of 171 chip samples taken in the area of the silicified cap, 44 (26%) contained 100 g/t or more Ag and 23 (13%) contained more than 300 g/t Ag. Assay results from SE-14-01 drill core demonstrated even higher grades within 30 meters from surface.
A link to drill core photos from Silver Eagle can be found on the Garibaldi homepage at www.GaribaldiResources.com.
Corporate Video
To view a recorded version of the latest GGI webinar, please visit the following URL: http://www.garibaldiresources.com/s/Media.asp#video1
Quality Assurance & Control
Garibaldi maintains strict QA-QC protocols for all aspects of its exploration programs that include the systematic insertion of blanks and standards into each sample batch. ACME Labs (now part of the Bureau Veritis group that includes BSI Inspectorate) is performing assay analyses on all drill core from Silver Eagle, while ALS Global (formerly ALS Chemex) performed analyses on rock samples reported in this release. All rock samples were assayed using certified and industry standard assay techniques. Silver was analyzed by multi-element ICP. Samples in excess of 1,500 g/t Ag were analyzed by gravimetric methods.
Qualified Person
Dr. Craig Gibson, Certified Professional Geologist and a director of Garibaldi, is a non-arms length Qualified Person for the Company's Mexico projects and the direct manager of the technical programs operated under contract by Prospeccion Y Desarrollo Minero del Norte (ProDeMin). Dr. Gibson 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.
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Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Provides Update of Santa Elena Transition

VANCOUVER, BRITISH COLUMBIA - June 18, 2014 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) ( NYSE MKT: SVLC) is pleased to provide an update on the commissioning of the new 3,000 tonnes per day (“tpd”) milling facility and processing plant and progress of underground development at its 100% owned Santa Elena Mine in Sonora, Mexico. The commissioning of the new mill commenced May 1st, 2014 and it is projected that continuous nameplate production of 3,000 tpd will be achieved by the start of August. Underground development continues with over 4,500 metres completed to date on ramping, ventilation and ore development. For additional information and to view photos and videos of the mill, the processing plant and the mine site, please visit the Company’s website at www.silvercrestmines.com.

N. Eric Fier, President and COO stated, "The mill start-up in May was a significant milestone in the development and responsible growth of the Company. We are confident that our projected early August completion of commissioning of the mill and ancillary facilities will be on schedule. The commissioning effort continues to be supported by highly experienced field engineers from FLSmidth & Co., who supplied most of the major process plant equipment. The Company is nearing the completion of its three year, $100 million Expansion Plan which is expected to be completed on budget and with minimal delay. The capital expenditure budget for 2014 is $26 million with $7.5 million remaining to be spent mostly for underground equipment and development. The remaining capital expenditures are expected to be completed in early Q3, 2014 which will allow free cash flow from operations to be generated for the balance of 2014."
Santa Elena Mine Update:

• Residual leaching of the leach pad continues and is expected to provide silver and gold production through at least July, 2014.
• During the first six weeks of commissioning, the average mill throughput of reclaimed leach pad material ("pad ore”) was approximately 1,000 tpd on an intermittent basis as the CCD thickeners and belt filters were being tested and fine-tuned.
• The mill and ancillary facilities have run for extended periods so that the first gold and silver metal recovered from the milled pad ore is scheduled prior to the end of June 2014.
• Over 4,500 metres of underground development has been completed including ramping, ventilation and ore development on five levels. Approximately 53,000 tonnes of development ore has been mined, project to date, with 41,500 tonnes delivered to the leach pad and 11,500 tonnes grading Au 1.17 g/t and Ag 98 g/t in stockpile awaiting mill processing. Blending of underground ore and pad ore for processing is scheduled to commence in July.
• The new long-hole drill arrived at Santa Elena on June 12 th, 2014. All underground production equipment purchased by the Company (1 long-hole drill and 3 LHD’s) is now on site. As planned, SilverCrest personnel will carry out all underground production mining from stopes while all development work will continue to be done by a contractor.
• Key underground positions have been filled with highly experienced people, several of whom came from Mexican operations where similar mining methods to Santa Elena are employed. Company underground mining personnel are in place and are being trained to start stope production on the 575 level in July.
• Underground close-spaced definition drilling is underway to better define reserves for initial and longer term stope production. Initial results from this detailed drilling reconcile closely with the underground reserve model. Results will be announced once compilation is complete.

As forecast, the Company expects Q2, 2014 production during the transition to be lower than Q1, 2014 production as the open pit heap leach production phases out and the mill facility ramps up to full production. Current market guidance of 3.3 to 3.6 million AgEq ounces for 2014 remains unchanged since the second half of 2014 is heavily weighted with significantly higher metal recoveries ( 92% Au and 67.5% Ag ) and full production through the mill. Market production guidance will be reviewed for possible changes once mill commissioning is complete and underground production is underway.
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 and operating cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates the new 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover average silver and gold annual quantities of 1.5 million ounces of silver and 32,800 ounces of gold over the current 8 year reserve. Exploration programs continue to make 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. These statements relate to analyses and other information that are based on expectations of future performance, including silver and gold production and planned work programs. Statements concerning reserves and mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed and, in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.
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 the Company’s status as a foreign private issuer in the United States; risks related to all of the Company’s material properties being located in Mexico, 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 information provided in this news release is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.
Contact:
Fred Cooper
Telephone: (604) 694-1730 ext. 108
Fax: (604) 694-1761
Toll Free: 1-866-691-1730
info@silvercrestmines.com
www.silvercrestmines.com
Suite 501 - 570 Granville Street
Vancouver, BC Canada V6C 3P1
Published at Investorideas.com Newswire
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