VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/09/12 -- SilverCrest Mines Inc. (TSX VENTURE:SVL)(PINKSHEETS:STVZF)(OTCQX:STVZF) (the "Company" or "SilverCrest") is pleased to announce that it has retired the Project Loan Facility with Macquarie Bank Limited related to the construction of the Santa Elena Mine located in Sonora, Mexico. The original amount of the loan was $12.5 million USD and the principal balance outstanding at September 30, 2011 was $7.1 million USD. The loan retirement was funded entirely with cash flow from operations and was repaid 21 months ahead of schedule.

In addition to retiring the Project Loan Facility the Company also entered into the following transactions