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

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

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

Production Highlights of Q3, 2014, vs. Q3, 2013;

·        Silver production quarterly record of 385,251 ounces; a 90% increase.

·        Gold production of 7,085 ounces; a 2% decrease.

·        Silver equivalent (1) production record of 810,334 ounces; a 26% increase.

·        Bullion inventory at the end of Q3 2014 included 56,890 oz silver and 1,045 oz gold.

·        Santa Elena's new mill was commissioned on budget by August 1 st, with average throughput of 2,371 tonnes per day during Q3 2014 and currently averaging 2,500 tonnes per day.

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

(1) Silver and gold ounces produced consist of ounces recovered from the mill and the leach pad.

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

Sonora, Mexico

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

Release of Third Quarter, 2014 Financial Results and Conference Call

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

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

Read this release in full at: http://www.investorideas.com/CO/SVL/news/2014/10151.asp

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

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation and the United States Securities Litigation Reform Act of 1995. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future and include, without limitation, statements with respect to: the economic viability of a project; strategic plans and expectations for the development of the Company's operations and properties; the amount of mineral reserves and mineral resources; the amount of future production of gold and silver over any period; the amount of expected grades and ounces of metals and minerals; expected processing recoveries; cash operating costs and outflows; life of mine; anticipated free cash flow generation; and prices of metals and minerals.

These forward-looking statements relate to analyses and other information that are based on, without limitation, the following estimates and assumptions:  the presence of and continuity of metals at the Company's projects; cost of production and productivity levels; plant and equipment function as anticipated; the availability of skilled labour; contracted parties provide goods and services on agreed time frame; ability to develop and finance projects; accuracy of the interpretations and assumptions used in calculating reserve and resource estimates; and operations not being disrupted or delayed by unusual geological or technical problems.  

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

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

CAUTIONARY NOTE REGARDING NON-IFRS PERFORMANCE MEASURES

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

Contact:

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

Visit this company: SilverCrest Mines Inc.

Published at Investorideas.com Newswire

Disclaimer/Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp.Disclosure: SilverCrest Mines Inc. is an annual member of the Investorideas newswire service and compensates the company for news dissemination ($9700)

BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

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SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Updates Santa Elena Mine Transition

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Updates Santa Elena Mine Transition

Vancouver, BC - September 26, 2014 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) is pleased to provide an update for the transition of the Santa Elena Mine in Sonora, Mexico from open pit heap leach to underground mining and milling operations. Activities at the mine are now moving from capital intensive expenditures for the overall Expansion Plan to operating costs and sustaining capital expenditures for underground development with emphasis on generating free cash flow through continued strict cost controls. The most significant transition activities are outlined below. 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; "We are pleased with our transition to a conventional milling operation at the Santa Elena Mine. The commissioning of the mill was completed on budget as of August 1, 2014. The ramp up of underground stope production to 1,500 tonnes per day has encountered short-term delays. These delays are primarily due to finalizing detailed stope designs based on recent in-fill drilling with associated geotechnical constraints. Also, delays in long-hole drilling start-up for stope development are attributed to personnel training in drilling procedures while testing stope ground support. These short-term delays are manageable but will impact previously announced 2014 metal production guidance of approximately 3.3 million AgEq ounces at a ratio of 60:1. Guidance for 2014 is now projected to range from 3.0 to 3.3 million AgEq ounces.

Estimated operating cash costs for 2014 of $8.50 to $9.50 per AgEq ounce and all-in sustaining cash costs of $11 to $12 per AgEq ounce, remain unchanged. These costs continue to make SilverCrest one of the lowest cost producers in the sector with anticipated free cash flow for Q4 2014".

Santa Elena Transition

·        The new mill and CCD/Merrill Crowe processing plant is currently running at an average throughput of 2,500 tonnes per day. Grind size testing for optimization is ongoing which impacts throughput, recoveries and efficient operation of the dry tailings belt filters. Optimized milling rate of 3,000 tonnes per day is targeted for Q4 2014.

·        Current underground ore development grades are averaging 1.72 gpt Au and 115.4 gpt Ag which is consistent with reserve estimates. Average pad ore grades in September 2014 are 0.68 gpt Au and 50.0 gpt Ag or 8% and 38% higher, respectively than budget.

·        The plant is currently processing a blended mix of 30% underground development ore and 70% pad ore with an average blended grade of 1.0 gpt Au and 71.2 gpt Ag.

·        Approximate mill recovery rates of 90% for gold and 68% for silver are consistent with budget target rates. It is anticipated that recoveries will increase as the mill grind size is optimized.

·        For Q4 2014, monthly metal production is projected to range from 3,000 to 3,750 ounces of gold and 140,000 to 180,000 ounces of silver to achieve guidance of 3.0 to 3.3 million.

·        Although behind schedule, mining the first production stope has commenced which is being developed between the 600m and 575m levels. Underground ramp access continues to be driven ahead of mine development with the bottom of the ramp currently at the 564m elevation. Completion of a ventilation raise in Q4 2014 is expected to increase operating efficiencies and improve advancement rates for both underground development and mine production.

·        Total underground development to date, including ramping, lateral ore and waste development, and raise development, is approximately 6,000 metres. Six levels currently have ore and partial waste development completed in anticipation of stope production.

·        With major capital expenditures completed for the 3 year long Expansion Plan, the Company anticipates generating free cash flow in Q4 2014 at current precious metal prices.

The Company is assessing the possibility of re-opening the Santa Elena open pit over the next 2 months which would increase projected metal production for Q4 2014 and H1 2015, providing safety and permitting requirements are met. Approximately 100,000 tonnes grading 1.4 gpt Au and 88.0 gpt Ag remain in the pit for possible low cost excavation and mill processing.

The Qualified Person under NI 43-101 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.

Read this release in full at http://www.investorideas.com/CO/SVL/news/2014/09261.asp

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 and include, without limitation, statements with respect to: the economic viability of a project; strategic plans and expectations for the development of the Company's operations and properties; the amount of mineral reserves and mineral resources; the amount of future production of gold and silver over any period; the amount of expected grades and ounces of metals and minerals; expected processing recoveries; cash operating costs and outflows; life of mine; average mine recovery rates; anticipated free cash flow generation and prices of metals and minerals.

These forward-looking statements relate to analyses and other information that are based on, without limitation, the following estimates and assumptions: the presence of and continuity of metals at the Company's projects; cost of production and productivity levels; plant and equipment function as anticipated; the availability of skilled labour; contracted parties provide goods and services on agreed time frame; ability to develop and finance projects; accuracy of the interpretations and assumptions used in calculating reserve and resource estimates; and operations not being disrupted or delayed by unusual geological or technical problems.

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

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

CAUTIONARY NOTE REGARDING NON-IFRS PERFORMANCE MEASURES

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

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

Visit this company: SilverCrest Mines Inc.

Published at Investorideas.com Newswire

Disclaimer/Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp.Disclosure: SilverCrest Mines Inc. is an annual member of the Investorideas newswire service and compensates the company for news dissemination ($9700)

BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.

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SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Confirms Underground High Grades at Santa Elena; 13m @ 2.54 gpt Au and 307.0 gpt Ag; Including 0.7m @ 18.25 gpt Au and 2,900 gpt Ag

Mining Stocks News: SilverCrest (TSX: SVL) (NYSE MKT: SVLC) Confirms Underground High Grades at Santa Elena; 13m @ 2.54 gpt Au and 307.0 gpt Ag; Including 0.7m @ 18.25 gpt Au and 2,900 gpt Ag

Vancouver, BC - September 4, 2014 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX:SVL) (NYSE MKT: SVLC) is pleased to announce results of underground infill drilling completed in July, 2014 at its 100% owned Santa Elena Mine in Sonora, Mexico. Twenty five closely-spaced underground drill holes, totaling 2,856 metres were completed to better define reserves and verify widths and grades for planned production stopes (see table below and attached figure: http://media3.marketwire.com/docs/966248.pdf). The results of all holes included in this news release will be part of the resource update scheduled to be completed by early 2015.

N. Eric Fier, CPG, P.Eng., President & COO stated; "This underground drill program was successful in confirming previous resource model expectations with delineation of high grade zones in the initial stopes scheduled for production in 2014 and 2015. Valuable information was also provided from the program to better define reserves and first stope mine designs. This detailed in-fill information continues to improve our model and enhances tonnage and grade projections for production planning and budgeting."

The drill program, with estimated 20 metre centres, assisted in stope design and reserve estimation. The results showed comparable widths and grades when reconciled with previous wider-spaced drilling in this area. The most significant assay results from this underground infill drilling program are shown in the following table. Intervals are considered to be near true thickness.

All sample analyses were completed by Inspectorate Labs of Reno, Nevada. Core holes SEUG-14-01 and SEUG-14-18 were abandoned before intersecting mineralization due to deviations or caving.

Underground Development

As of August 31, 2014, approximately 3,835 meters of underground lateral development including ramp access, 1,550 metres of ore development on 6 levels, and 260 metres of raise development had been completed by an independent contractor. Underground exposure of the Santa Elena Main Mineralized Zone has provided opportunities for detailed mapping and sampling to assist with modeling and detailed planned mine production.

The initial production stope is currently being drilled with delivery of ore to the mill expected to commence once the cycle of drilling and blasting is completed and sufficient broken ore is available for extraction. Further details on the commencement of production stoping will be provided as the operations progress. Approximately 17,100 tonnes of higher grade development ore (grading 1.14 gpt Au and 87.46 gpt Ag) were processed in August along with ore from the leach pad.

The Qualified Person under NI 43-101 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.

Read this release in full at http://www.investorideas.com/CO/SVL/news/2014/09041.asp

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.

Become an Investorideas.com Member and access our 14 online stock directories 24/7 -mining stocks, oil and gas stocks and more...

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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.

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