SilverCrest Reports 127.4m @ 65.6 gpt Ag Eq(i) at La Joya Expands Main Mineralized Trend to Northeast and Southwest

VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/07/12)- SilverCrest Mines Inc. (SVL.V - News)(STVZF.PK - News)(STVZF.PK - News) (the "Company") is pleased to announce the results of a further 16 holes of the Phase II drill program currently underway at its La Joya Property in Durango, Mexico. The Phase II program comprises an estimated 80 holes totaling approximately 15,000 metres. Phase II drilling to date has extended the Main Mineralized Trend ("Trend") an additional 500 meters to the northwest beyond the area of the current resource of 101.9 million ounces Ag Eq.(i) (see News release dated March 20, 2012). New results show the Trend expanding an additional 200 metres to the northeast and 100 metres to southwest with the average width increasing from 500 to approximately 700 metres along a strike length of 2,500 metres (see attached figure:http://media3.marketwire.com/docs/788109_figure.pdf). Please reference our website at www.silvercrestmines.com for more information, photos and figures on La Joya.

J. Scott Drever, President stated: "In January we announced an initial Inferred Resource in a portion of the Trend of 57.9 million tonnes grading 28 gpt Ag, 0.18 gpt Au and 0.21% Cu and containing 101.9 million ounces Ag Equivalent(i). We have since drilled 23 holes as a part of the second phase of drilling that have successfully expanded mineralization in all lateral directions with the possible expansion of the resource along the Trend. We have begun to drill the area to the southeast of the declared resource which, based on previous historic drilling and our surface sampling results, is expected to host the most attractive mineralized portion of the Trend".

These further 16 holes have partially tested the eastern and western margins of the northern end of the Trend and have provided in-fill information within the resource area. Silver values range from 2.6 gpt to 255.7 gpt and on a silver equivalent(i) basis values range from 24.0 gpt to 445.6 gpt Ag Eq. Mineralized intervals range from 3.5 metres to 127.4 metres. True thicknesses of mineralized intercepts can be approximated from previously announced drill holes in associated areas and cross-sections. The most significant assay results are shown in the following table;

 

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                                                        Ag
                                                        Eq
HOLE-ID            From    To Length    Ag   Au   Cu   (i)
(Az, Dip)           (m)   (m)    (m)   gpt  gpt    %   gpt          Comments
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L J DD11-33
 (330, 45)        421.0 433.5   12.5   2.6 0.32 0.08  25.5      NW extension
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L J DD12-34
 (180, 45)         50.0  76.7   26.7  20.0 0.32 0.14  47.9      NW extension
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        Includes   61.5  70.4    8.9  31.7 0.48 0.20  72.6
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                  140.5 146.1    5.7 121.4 0.12 0.83 198.6
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L J DD12-35
 (180,45)          60.0  68.0    8.0  21.5 0.03 0.01  24.0  Resource In-fill
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L J DD12-36
 (180, 45)        156.0 185.0   29.0  16.5 0.06 0.14  31.8  Resource In-fill
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L J DD12-37
 (180, 45)         12.0  16.5    4.5  19.8 0.09 0.18  39.5  Resource In-fill
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                   44.0  52.0    8.0  13.9 0.12 0.18  35.4
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                   88.0  91.5    3.5  49.5 0.06 0.26  75.3
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                  173.9 191.7   17.8  11.8 0.34 0.03  31.1
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L J DD12-38
 (180, 45)        103.5 108.0    4.5  17.8 0.13 0.13  35.4  Resource In-fill
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                  139.6 150.0   10.4   7.0 0.43 0.03  31.2
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                  169.2 189.0   19.8  34.3 0.25 0.23  66.5
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L J DD12-39
 (0, 90)           32.0  56.0   24.0  20.7 0.02 0.07  27.6  Resource In-fill
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L J DD12-40
 (180, 45)         29.3  64.8   35.5  17.2 0.08 0.30  47.1      SW extension
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        Includes   59.7  64.8    5.2  46.7 0.09 1.14 149.1
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                   92.5  96.0    3.5  24.4 0.09 0.71  90.1
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                  136.5 144.3    7.8  10.6 0.13 0.17  31.6
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L J DD12-41
 (180, 45)          0.0   8.0    8.0  26.7 0.10 0.11  40.8      SW extension
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                  115.5 126.0   10.5  18.6 0.12 0.40  59.1
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L J DD12-42
 (180, 45)         31.0 158.4  127.4  20.3 0.64 0.16  65.6  Resource In-fill
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        Includes   35.8  40.0    4.2 255.7 0.72 1.91 455.6
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        Includes   73.0  88.7   15.7   8.5 3.90 0.06 208.4
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L J DD12-43
 (180,45)           0.0 115.0  115.0  23.5 0.11 0.17  43.8  Resource In-fill
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        Includes    3.2  12.1    8.9  85.6 0.21 0.60 147.8
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        Includes   43.4  50.0    6.7  97.4 0.07 0.67 158.7
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                  140.5 152.5   12.0  38.6 0.09 0.20  60.1
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        includes  142.0 152.5   10.5  41.7 0.10 0.21  64.8
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L J DD12-44
 (180,45)          91.0 104.6   13.6  15.7 0.01 0.12  26.5      NE extension
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                  288.2 308.0   19.8  13.5 0.10 0.10  26.9
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L J DD12-45
 (180, 45)        112.9 191.2   78.3  32.2 0.28 0.20  63.1      NE extension
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        includes  156.2 191.2   35.0  43.8 0.62 0.25  96.0
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                  223.0 231.0    8.0  37.1 0.80 0.15  89.4
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L J DD12-46
 (0, 45)          106.6 122.0   15.5  30.5 0.10 0.23  54.8      NE extension
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                  154.0 169.6   15.6  19.3 0.06 0.11  31.5
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                  208.2 217.0    8.8  26.6 0.34 0.14  55.7
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L J DD12-47
 (180, 45)        108.0 132.0   24.0  15.5 0.01 0.16  29.5      NE extension
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                  175.7 222.6   46.9  34.2 0.32 0.23  70.6
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        includes  175.7 192.4   16.7  36.5 0.70 0.24  92.5
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L J DD12-48
 (60, 45)          72.0  84.0   12.0  45.0 0.02 0.52  90.2      NE extension
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                  193.5 202.5    9.0  38.9 0.01 0.20  56.7
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                  254.2 259.9    5.7  36.8 0.31 0.29  77.8
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(i) Silver equivalency includes silver, gold and copper and excludes lead,
zinc, molybdenum and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based on
5 year historic metal price trends of US$24/oz silver, US$1200/oz gold,
US$3/lb copper. 100% metallurgical recovery is assumed.

All sample analyses were completed by ALS Chemex in Zacatecas, Mexico and North Vancouver, BC, Canada.

Holes L J DD12-40 and L J DD12-41 have identified additional mineralization along the Contact Zone which had been previously drilled and defined as mineralization near the contact of Cretaceous sediments and underlying quartz feldspar porphyry stock and dykes. The Contact Zone is exposed at surface and in this area has a northwest-southeast strike approximately one and a half kilometer long with semi-massive to massive sulfide mineralization (primarily chalcopyrite and pyrrhotite) immediately adjacent to contacts. This type of mineralization is similar to that of the nearby producing Penoles' Sabinas Mine.

Holes L JDD12-44 to 48 have identified additional mineralization in the Northeast portion of the Trend previously identified as the "Esperanza" target. This mineralization is similar to previously defined mantos, structures/stockwork and the Contact Zone although the mantos and structures appear to be fewer in number and somewhat deeper than in the central section of the Trend. Further drilling in this area is required to better define near surface mineralization.

Core samples for holes L J DD12-49 to L J DD12-52 are currently in the laboratory being analyzed. The program is currently drilling at hole L JDD12-53 located on the south central part of the Trend. Assays for the next series of holes will be reported upon receipt and compilation. Several holes contain anomalous molybdenum, tungsten, lead and zinc values over significant widths in the skarn. The significance of these associated mineral zones is being examined.

The Phase II 80 hole drill program is expected to test approximately 2.5 kilometres of the Trend that includes at least the 8 near-vertical structures/stockwork zones, 14 near-horizontally stacked mantos plus the Contact Zone adjacent to the underlying intrusive. Drilling on the southern extension of the Trend has commenced. Based on Company surface mapping, sampling and historic drill hole results, this area is thought to be potentially the highest grade area along the Trend.

The La Joya Deposit currently has estimated Inferred Resources of:

 

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            CUT
            OFF
          GRADE                                                        CONT-
            (AG                             CONT-    CONT-    CONT-    AINED
            EQ.
                         AINED    AINED    AINED   AG EQ.
CATEGORY   (ii)  TONNES    AG    AU    CU   AG OZ    AU OZ   CU LBS   OZ(ii)
(iii)      GPT) (000's)   GPT   GPT     % (000's)  (000's)  (000's)  (000's)
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INFERRED
(iv)         15  57,940  28.0  0.18  0.21  51,348    333.4  270,296  101,918
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             30  35,500  39.0  0.22  0.30  44,300    246.0  237,500   86,400
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(ii) Silver equivalency includes silver, gold and copper and excludes lead,
zinc, molybdenum and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based on
5 year historic metal price trends of US$24/oz silver, US$1200/oz gold,
US$3/lb copper. 100% metallurgical recovery is assumed.
(iii) Classified by EBA, A Tetra Tech Company and conforms to NI 43-101, 43-
101CP, and CIM definitions for resources. All numbers are rounded. Inferred
Resources have been estimated from geological evidence and limited sampling
and must be treated with a lower level of confidence than Measured and
Indicated Resources.
(iv) Mineralization boundaries used in the interpretation of the geological
model and resource estimates are based on cutoff grades of 15 gpt Ag Eq and
30 gpt Ag Eq using the metal price ratios described above.

Please refer to the January 4, 2012 news release for further details of the Inferred Resource estimate and to the La Joya NI 43-101 Technical Report filed on www.Sedar.com

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, and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.

SilverCrest Mines Inc. (SVL.V - News)(STVZF.PK - News) is a Mexican precious metals producer with headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.