El Picacho Continuing Drill Program Producing Results

VANCOUVER - SilverCrest Metals Inc. reposted on its initial drill program at its El Picacho Property  located near Bacoachi, Sonora, Mexico. Picacho is located approximately 85 km by road northeast of the as Chispas project along a predominantly paved highway.

Drill results are from 56,780 meters (247 drill holes) targeting the Picacho Zone which now includes five adjacent and subparallel epithermal veins including; the Picacho Main Vein ("Picacho Main" with historic resource), Picacho Hanging Wall Vein, Picacho Hanging Wall 2 Vein ("Picacho HW2", new discovery), Picacho Hanging Wall 3 Vein ("Picacho HW3", new discovery) and Picacho Footwall Vein ("Picacho FW", new discovery)

Initial Drilling of Historic Resource Completed, Expansion at Picacho Zone - A total of 68,200 meters (289 drill holes) at the Picacho Zone have been drilled to date including holes reported in a news release dated February 24, 2021. The focus of drilling was to better understand, redefine and potentially expand the Picacho Main Vein historic unverified resource1 of 7.8 million ounces silver equivalent ("AgEq"2) grading 8.50 grams per tonne ("gpt") gold ("Au") and 40.0 gpt silver ("Ag"), or 677 gpt AgEq. Overall, the Picacho Main and Picacho HW veins have expanded, and new vein discoveries are being reported within the Picacho Zone.

Picacho Main Vein Primary Focus of Drilling - Picacho Main Vein results, within a footprint of greater than 150 gpt AgEq ("Footprint"), are reported in this release. The average grade of these results is 5.42 gpt Au and 23.9 gpt Ag, or 431 gpt AgEq with an average estimated true width ("ETW") of 2.4 meters. Drilling in the Picacho Main Vein remains shallow with a maximum vertical drilled depth of approximately 300 meters and an approximate vein strike length of 550 meters. Drill spacing in the Footprint averages 35 meters.

New Vein Discoveries - While drilling the Picacho Main and Picacho HW veins, three new adjacent vein discoveries were intercepted. The cumulative strike length, within the defined Footprint for these veins, is approximately 400 meters. Overall, these veins average 7.47 gpt Au and 30.3 gpt Ag, or 591 gpt AgEq with an average true width of 0.9 meters.

Early-Stage Exploration, Drilling Continues - Currently less than 30% of the Property has had any mapping or sampling completed. Ongoing mapping, sampling, underground surveying of historical workings, target generation and geophysical interpretation continues as part of an early-stage exploration strategy. Two drills are expected to be active at Picacho throughout Q2, 2022.