SilverCrest Announces Updated La Joya Resources

The Company believes that the 60 gpt Ag Eq portion of the deposit with an estimated tonnage of 27.9 million tonnes grading 112 grams per tonne Ag Eq* constitutes a priority area to be examined as a potential "Starter Pit" for initial conceptual operations that will be examined in the Preliminary Economic Assessment (PEA) to be commenced shortly. The La Joya Property has excellent potential for additional resources with the deposits being open in most directions. Further infill and expansion drilling is recommended to increase and convert resources from Inferred to Indicated.

These resources have been independently estimated by EBA Engineering Consultants Ltd., a Tetra Tech Company utilizing Company Phase I and Phase II drill results and surface sampling programs along with independently-validated historic data. Drilling to date has been relatively widespread in the Main Mineralized Trend (MMT) as well as the independent deposits of Coloradito and Santo Nino. The MMT which includes the Phase I and II drilling areas, has a length of 2.5 kilometres and an average minimum width of over 700 metres (see attached Figures -http://media3.marketwire.com/docs/svl129_F1-2.pdf).

The La Joya resource models separate the deposits into two broad categories based on the predominant mineralogy. The first category is comprised of silver, gold and copper mineralization (AgCu Rich Zone), with lesser amounts of tungsten (WO3), molybdenum (Mo), lead (Pb), and Zinc (Zn). The second category is predominantly tungsten and molybdenum mineralization (Contact Zone) with lesser amounts of Ag, Cu, Au, Pb, and Zn. The mineralogy of these categories is often gradational and overprinted in some areas. The AgCu Rich Zone generally lies spacially above the Contact Zone and generally follows the contours of the underlying intrusive, which outcrops in several areas. The summaries of the resource estimates below show the resources attributed to each of these mineralization categories for each of the current deposits, specifically, the MMT, Santo Nino, and Coloradito.

Much of the Contact Zone resource is considered to be near-surface and potentially amenable to conventional open pit mining. This zone also contains gold, silver, copper and tin (as defined by geochemistry) which may add secondary value as a result of increased metal content.

These resource estimates are based on recent and historical information collected by SilverCrest Mines and previous operators (Luismin/Goldcorp) from 1979 to present. Phase II Company drilling comprising 78 holes (25,812.65 metres), the 26 holes Phase I Company drilling (5,753.70 metres) in addition to 18 validated historic drillholes (5,907.26 metres) were included in the geological database used as source data for the estimation. Drill hole spacing for the 122 holes (37,473.61 metres) used in the resource estimation is approximately 75 metres.

Based on available data and computer modeling, the current dominant mineralization at La Joya is hosted within numerous sub-vertical, near east-west striking structurally-controlled stockwork zones. These zones are considered to be semi-continuous along strike with true widths ranging from 15 to 50 metres using a cutoff grade of 15 gpt Ag Eq. Eight near-horizontal mantos (semi-continuous disseminated stratabound sulphides) have been modeled within the resource area, which are cross-cut by the stockwork zones and considered the second dominant mineralization. The La Joya deposits are currently interpreted to host three related styles of mineralization. Please refer to News Release dated October 17, 2011 for defined types of mineralization at La Joya.

Initial metallurgical test work as reported in the first Technical Report on the property dated February 20, 2012 suggests that the La Joya deposit may be amenable to conventional flotation processes for copper concentrating with high grade silver and gold components. Significant metallurgical test work is being completed by an independent qualified lab to confirm flotation amenability and fully determine recoveries. The nearby Sabinas Mine (Penoles), which is considered to be a similar deposit style to La Joya, has been in production for many years and is currently producing at an estimated rate of 4,000 tonnes/day and shipping flotation concentrate overseas.

The La Joya Inferred Mineral Resource Estimate was completed using Gemcom GEMS modeling software and is compliant with National Instrument 43-101 and conforms to guidelines and definitions established by the Canadian Institute of Mining and Metallurgy. The resource is based on verified information from historical and recent company sources. The Mineral Resources include block models for the Main Mineralized Trend and Santo Nino located within Cerro Sacrificio, and for Cerro Coloradito. Solid boundaries for the mineralization were interpreted using a minimum 15 Ag Eq cut-off from drill holes composites. Raw assay data was composited to 2 metres and was interpolated into a 5 metre x 5 metre x 5 metre block size model using inverse distance squared methodology with multiple mineralized domains and search ellipses. The search ellipse ranges were based on geological field observation, geostatistical analysis and iterative interpolation. Grade caps of 550 gpt Ag, 5.5 gpt Au and 6.0 % Cu were determined from histogram analysis and applied after compositing. Grade interpolation within stratabound manto mineralization utilized an anisotropic search ellipse oriented along the interpreted trend of bedding with major and semi-major axis ranges of 75 metres and a minor axis range of 40 metres. Where manto grades exceeded 120 gpt Ag, 1 gpt Au, or 1% Cu, the search ellipse was limited to major and semi-major axis ranges of 40 metres, and a minor axis range of 20 metres. Grade interpolation within sub-vertical structurally-controlled stockwork zones utilized an anisotropic ellipse oriented along the interpreted zones with major and semi-major axis ranges of 80 metres and a minor axis range of 30 metres. A minimum of 2 composites, to a maximum of 15, were required to interpolate block grades with no more than 3 composites reporting from any one drill hole in manto mineralization, or no more than 3 composites reporting from any one drill hole in the stockwork zones. Based on limited laboratory and in situ testing, a value of 3 was applied as a specific gravity for all materials in the model. Using the definitions in the CIM Definition Standards for Mineral Resources and Mineral Reserves, all Mineral Resources have been classified as being Inferred based on the number of samples used for estimation relative to the deposit area and the overall confidence in interpretation from the widely spaced drill holes for this style of deposit. Inferred Resources should not be used as the basis for evaluation of economic viability of the project. Details of these criteria will be presented in the Technical Report to be filed on SEDAR.

The independent Qualified Persons for the La Joya resource estimation who have reviewed and approved the contents of this news release are James Barr., P.Geo., and Lara Reggin, P.Geo. both from the consulting firm of EBA Engineering Consultants Ltd., a Tetra Tech Company and Ting Lu, P.Eng. (for Metallurgy) from Wardrop Engineering, a Tetra Tech Company. A Technical Report currently being prepared by the Qualified Persons and will adhere to the disclosure requirements of NI 43-101 and will be filed no later than 45 days from the date of this release.

SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC)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 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 at 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.