Discovery Of The Babicanora Norte Vein On Las Chispas Property 

VANCOUVER, BC - SilverCrest Metals Inc. reported drill results and discovery of the Babicanora Norte Vein on the Las Chispas Property located in Sonora, Mexico. The high-grade Babicanora Norte Vein was discovered while drill-testing beneath recently located shallow historic workings. This vein is approximately 300 meters northeast of the parallel Babicanora Vein. There are 23 known epithermal veins on the Property, including 11 which have drill-intersected high-grade mineralization and consist of the Babicanora, Babicanora Footwall, Babicanora Norte, Las Chispas, Giovanni including La Blanquita, William Tell, Varela, Granaditas, Luigi and Amethyst veins. Five of the 23 veins have been included in the maiden resource. 

N. Eric Fier, CPG, P.Eng and CEO, said, "With this discovery of the Babicanora Norte Vein, we continue to show the increased potential for more near-surface high-grade mineralized veins. This is now the 11th high-grade vein we have discovered in the district.

This vein is located adjacent and parallel to the Babicanora Vein which contains a majority of the maiden resource estimate. We recently identified this untested vein and strategically drilled it for high-grades which were discovered in our second drill hole (BAN18-02, intercepting 1.5 meters grading 9.11 gpt gold and 1,033.3 gpt silver, or 1,716 gpt AgEq).

This successful strategy required projecting the known high-grade footprint of the adjacent Babicanora Vein along with geologic constraints to the untested Babicanora Norte Vein. With six drills currently operating, we continue to aggressively drill-test the Babicanora Norte Vein and several other untested veins using the model of "Nature of Multiples"; that is, find one high-grade footprint in a vein and apply the same controls to the next nearby vein."

The most significant result for this release was returned from Hole BAN18-06, which intersected 1.5 meters (true width) grading 23.96 grams per tonne ("gpt") gold and 2,081.0 gpt silver, or 3,879 gpt silver equivalent ("AgEq", based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$18.50 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 86.6% silver and 98.9% gold), including 0.5 meters grading 11,615 gpt AgEq. The following table summarizes the most significant drill intercepts.

The Babicanora Norte Vein consists of southeastward plunging high-grade mineralization similar to the adjacent Babicanora Vein. Mineralization consists of a 0.5 to 1.5 meter wide banded quartz-argentite-pyrargyrite vein, dipping at an estimated 55° southeast proximal to a rhyolite dyke. Conceptually, since the Babicanora and Babicanora Norte veins are proximal to each other, shared future underground infrastructure is conceivable and convenient.

The Babicanora Norte high-grade footprint in the vein currently measures approximately 200 meters long by 100 meters high by 1.4 meters in average true width, grading an estimated 8.47 gpt gold and 878.9 gpt silver, or 1,514 gpt AgEq (see attached Figures) and is open in most directions. Further drilling for potential expansion is ongoing and additional assays will be reported once compilation is complete.

The Company continues with its Phase III drill program of expansion drilling on several new and partially-drilled high-grade mineralized veins. A remaining 6,000 to 8,000 meters of drilling are planned up to the end of July cutoff for updated resource inclusion. Other ongoing site work includes continued underground mapping and sampling on the Las Chispas Vein, drilling test wells for site water, permitting for various additional work, and review of the maiden resource model for optimization and update.