Company Information for SilverCrest Mines Inc

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Company Statement

SilverCrest Mines Inc. is an active exploration and development company with reported resources of Total Indicated Silver & Silver Equivalent Ounces 57,496,500 and Total Inferred Silver & Silver Equivalent Ounces 29,936,800 and 78.8 million pounds of zinc (see Corporate Resource Summary at end of “Current Operations”). SilverCrest is focused on the acquisition of high grade, low cost silver resources with expansion potential and properties with substantial exploration potential. The Company’s immediate initiative is to become a significant silver asset based company by acquiring and developing substantial silver resources and ultimately, to operate high grade silver mines throughout North, Central and South America. The Company is carrying out a preliminary feasibility study on one of its three projects in Mexico and is finalizing a feasibility study in El Salvador.

Current Operations

MEXICO PROPERTIES
 
Santa Elena Project, Mexico – “Preliminary Feasibility Underway”
The Santa Elena Project is located approximately 150 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company has the right to acquire a 100% interest in the Santa Elena property by making staged option payments over a period of 5 years. The Santa Elena is a high priority project for the Company as it offers the greatest opportunity to achieve near term production.

The Company is carrying out a preliminary feasibility study that will define the operating and capital cost parameters for an open pit heap leach operation that would treat approximately 1,750 to 2,000 tonnes of ore per day for a period of 7 to 10 years based on current resource estimates. The study is being prepared by Sol y Abode, Ingenieros Asociados, S.A. de C.V., an independent, qualified engineering consulting firm of Hermosillo, Mexico.   It is expected that a production decision could be made by late this year with initial production commencing late in 2008 with the first full year of production occurring in 2009.
 
A 4000 metre phase II drill program is currently underway. The drill program is expected to expand the current resource estimate to the east and to depth, to test the near-surface footwall silver zone, to re-classify much of the inferred resource into the measured and indicated resource category and to complete condemnation drilling for proposed operating facilities. The program will further test the extents of the deposit which presently remains open to the east and to depth.

Cruz de Mayo Project, Mexico – “Resource Estimate Completed”
The Cruz de Mayo Project is located approximately 180 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company owns a 100% interest in 434 hectares and has a contract to purchase an additional 18 hectare concession. The Company has drilled at total of 23 diamond drill core holes and 27 reverse circulation drill holes that continue to establish the continuity and grade of a silver mineralized zone over a strike length of 2.5 kilometres.

Approximately 800 metres of strike length have been tested with detailed drilling while the remainder has been tested with widely spaced holes. The favorable host for stockwork silver mineralization is a ryholite bed which dips at about 25º to the southwest nearly parallel to the slope of the topography. This “dip slope” makes for potentially low strip ratios for the deposit. The deposit remains open to the northwest and will be the subject of additional work. 

A Technical Report with a NI 43-101 compliant resource estimate was announced in November 2007 with Indicated Silver Resources of 2,353,400 ounces and Inferred Silver Resources of 12,967,100 ounces.

Silver Angel Project, Mexico – “Extensive Exploration Potential”
The Company has a 100% interest in +18,000 hectares located in the northern Sierra Madre Range in the State of Sonora, Mexico. The Silver Angel Concession contains an area of intense alteration that is approximately 20 kilometers long by 3 kilometers wide with structural features that host several past producing, high grade silver gold deposits, including the Cruz de Mayo prospect.

The Company controls most of the “Silver Angel” trend and continues reconnaissance exploration work to define targets similar to Cruz de Mayo. 
 
El Zapote Project, El Salvador – “EIS and Feasibility being completed”
SilverCrest has a 100% interest in silver project located in northern El Salvador. The property is at the feasibility stage where mineable reserves have been established, process design is being optimized (conventional mill vs heap leach), capital and operating costs are being verified and the economic viability of the project is being evaluated. Detailed drilling has now delineated the Cerro Colorado III and partially delineated the San Casimiro and Tajado deposits. These are three of several known deposits within the El Zapote concession. 

Geographical Spread

Mexico

Board of Directors and Key Management

J. Scott Drever, President & Director

40 years experience with strengths in international operations, strategic planning, mergers & acquisitions - Placer Dome, Blackdome Mines, Pan Ocean Oil.

N. Eric Fier, CPG, P.Eng. Chief Operating Officer

20 years experience in international operations, project evaluation & management - Newmont Mining, Eldorado Gold, Pegasus Gold Corp.

Barney Magnusson, CA, Chief Financial Officer

25 years experience in senior mine financing - High River Gold Mines, Dayton Resources, Brohm Resources.

Graham C. Thody, CA, Director

A Partner with Nemeth Thody Anderson, Chartered Accountants since 1980 with focus on corporate mergers and acquisitions as well as domestic and international tax.

George W. Sanders, Director

25 years experience in mining and exploration finance with Canaccord, Richmont Mines Ltd., Consolidated Cinola Mines and Shore Gold Inc.

Bernard Poznanski, Corporate Secretary

A partner of Koffman Kalef LLp, Business Lawyers, since April 1993 with his practice focused on advising mining and technology companies in connection with corporate finance, corporate restructuring and commercial matters.

Company Address 1311 Howe Street, Suite 405 Vancouver, British Columbia, British Columbia, Canada V6Z 2P3 Telephone: 604-691-1730 Facsimile: 604-691-1761 Email: info[at]silvercrestmines.com Website: http://www.silvercrestmines.com

Additional Address/Key Contact Toll Free: 866-691-1730

Annual General Meeting June 28, 2007 Vancouver, BC Canada

Year End December 31

Broker/Analyst Reports

27/02/08 - Objective Capital
27/11/07 - P. ZIHLMANN INVESTMENT
01/01/07 - Fundamental Research

Major Shareholders

As at June 30, 2007

20% Institutional holdings (mostly Europe)

16% Principals & Directors (fully diluted)

64% Retail

Related News

02/06/08 - SilverCrest Mines Less Than A Year Away From Production At Santa Elena
09/08/07 - SilverCrest Mines Attracts European Investors With Its Projects in Mexico And El Salvador

Most Recent Statement

26/06/08 - SilverCrest Pre-Feasibility Results at Santa Elena, Mexico
05/06/08 - SilverCrest Main Zone Expansion Drilling-11.2 Metres (36.73 Feet) Grading 3.47 gpt Gold-167.1 gpt Silver, Santa Elena Project, Mexico
21/05/08 - SilverCrest Submits Environmental Impact Assessment; Receives Land Use Change Approval
08/04/08 - SilverCrest Continues to Expand Main Zone at Santa Elena, Mexico
20/03/08 - SilverCrest Completes Private Placement; Amends $3.0 Million Macquarie Finance Facility
29/02/08 - Silvercrest Mines Inc. Announces Agreement for US$3.0 Million Feasibility Finance Facility With Macquarie Bank Limited and Proposed C$5.5 Million Non-Brokered Private Placement