SilverCrest Drilling Update for Santa Elena Mine

VANCOUVER, BC - SilverCrest Mines Inc. reported the completion of further drilling at the Santa Elena Mine in Sonora, Mexico. The drilling of 5 core and 16 RVC holes was completed to define several objectives in a planned 110 hole program including; 1) confirm tonnage and grade of the remaining open pit reserves for Life of Mine Plan (Holes SERCP-1A to SERCP-11V), 2) test further mineralization below the current open pit plan (Holes SERCH12-36 to SERCP-SERCP38), 3) test newly identified mineralization in the NW highwall of the open pit (Holes SE12-97 to SE12-101), and 4) re-categorize and expand current underground Resources. To date, this drill program has been successful and will assist with resource confirmation, conversion, and inclusion in the upcoming Pre-Feasibility Study for the Santa Elena Expansion Project.

Gold and silver values in the SERCP and SE series of holes range from 0.13 gpt to 8.6 gpt gold and 17.4 to 244.0 gpt silver. Mineralized intervals range from 6.0 metres to 52.0 metres. All mineralized drill intercepts are near true thicknesses for undesignated angled holes or those designated as A , with vertical holes designated as V  representing apparent thickness. The most significant intercepts are 52 metres grading 2.19 gpt Au and 95.5 gpt Ag (Hole SERCP-9V) and 16 metres grading 6.18 gpt Au and 103.4 gpt Ag (Hole SERCP-11A) which are apparent and true thicknesses respectively.

All sample analyses were completed by the Santa Elena onsite laboratory with checks at ALS Chemex in Hermosillo, Mexico and North Vancouver, BC. The consistent thickness of certain intervals in a number of the holes is a result of the sampling procedures utilized in reverse circulation drilling.

In-Fill Pit holes confirmed the projection of higher grades expected to be mined in the open pit in 2013 to 2014. These holes are being used to update the Life of Mine Plan and open pit reserves to be included in production budgets and the Pre-Feasibility Study for the Expansion Plan.

Holes drilled in Santa Elena U/G South show increased potential for new underground resources below the pit and are being incorporated into the new resource model and Expansion PFS. Further drilling is anticipated in 2013.

Santa Elena NW holes SE12-97 to SE12-99 intercepted high grade values over 1 to 4 metres wide. These intercepts along with in-pit ore control holes in the NW wall of the pit suggest a possible new underground target. Holes SE12-100 and 101 were drilled on separate targets but did not intercept significant mineralization. Further drilling is anticipated in 2013.

Sixty six holes have been completed to date for underground resource conversion to reserves and expansion. Results of these holes will be released once compilation of results is complete. Three drills are currently on site to complete drilling by the end of 2012. Revised Santa Elena Resources and Reserves are expected along with the PFS in Q1 2013. This program has been extended to achieve required drilling to assist with the conversion of Resources to Reserves and potentially expand known Resources.