? Silver Production up 23 % to 131,045 ounces
? Gold Production up 8% to 9,536 ounces
TSX?V: SVL OTCQX: STVZF For Immediate Release VANCOUVER, B.C. January 12, 2011 - SilverCrest Mines Inc. (the "Company") is pleased to announce record production of silver and gold was achieved in the Fourth Quarter, 2011 from the Santa Elena Mine located in Sonora, Mexico.Santa Elena Mine Production Highlights: Fourth Quarter, 2011 compared to Third Quarter, 2011
? Silver production up 23% to 131,045 ounces
? Gold production up 8% to 9,536 ounces
? Silver equivalent production up 16% to 667,766 ounces
? Silver ounces delivered to pad up 33% to 524,375
? Gold ounces delivered to pad up 12% to 20,094
? Tonnes crushed up 30% to 328,945
During the first year of production the mine produced 377,071 ounces of silver and 26,969 ounces of gold (1,737,418 ounces of silver equivalent, Ag:Au ratio 50.4:1). The first full year of commercial production will be 2012 during which the mine is expected to produce approximately 435,000 ounces of silver and 33,000 ounces of gold.
J. Scott Drever, President stated; "We are certainly pleased with the continuous improvements being made at the Santa Elena Mine. All aspects of the operations are at or above design capacities. This is reflected in the steady increase in the overall performance statistics and more specifically in the record number of ounces of silver and gold poured on site and sold out of the refinery. The improvements in production numbers will be reflected in our year end financial results to be released towards the end of March. Our substantial operating cash flow has enabled us to retire our US$12.5 million bank debt. Our strong cash position of US$26.2 million at year end assures that we can continue with our Expansion Plan to double production at Santa Elena and to aggressively explore the La Joya property where the Company has a major new discovery".Santa Elena Mine Operating Highlights:
(1) Silver equivalence was calculated using the market spot rates per gold and silver ounce at the quarter end date
For additional information and to view production photos, please visit the Company's website at www.silvercrestmiens.com
N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc. and Qualified Person for this news release has reviewed and approved its contents.
SilverCrest Mines Inc. (TSX?V: SVL; OTCQX: STVZF) is a Mexican precious metals producer with headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%?owned Santa Elena Mine, which is 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 the2,500 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 of the open pit phase of 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, Mexico.
FORWARD?LOOKING STATEMENTS
This news release contains "forward?looking statements"
within the meaning of Canadian securities legislation and the
United States Securities Litigation Reform Act of 1995. Such
forward?looking statements concern the Company's anticipated
results and developments in the Company's operations in
future periods, planned exploration and development of its
properties, plans related to its business and other matters
that may occur in the future. These statements relate to
analyses and other information that are based on expectations
of future performance, including silver and gold production
and planned work programs. Statements concerning reserves and
mineral resource estimates may also constitute
forward?looking statements to the extent that they involve
estimates of the mineralization that will be encountered if
the property is developed and, in the case of mineral
reserves, such statements reflect the conclusion based on
certain assumptions that the mineral deposit can be
economically exploited.
Forward?looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors which
could cause actual events or results to differ from those
expressed or implied by the forward?looking statements,
including, without limitation: risks related to precious and
base metal price fluctuations; risks related to fluctuations
in the currency markets (particularly the Mexican peso,
Canadian dollar and United States dollar); risks related to
the inherently dangerous activity of mining, including
conditions or events beyond our control, and operating or
technical difficulties in mineral exploration, development
and mining activities; uncertainty in the Company's ability
to raise financing and fund the exploration and development
of its mineral properties; uncertainty as to actual capital
costs, operating costs, production and economic returns, and
uncertainty that development activities will result in
profitable mining operations; risks related to reserves and
mineral resource figures being estimates based on
interpretations and assumptions which may result in less
mineral production under actual conditions than is currently
estimated and to diminishing quantities or grades of mineral
reserves as properties are mined; risks related to
governmental regulations and obtaining necessary licenses and
permits; risks related to the business being subject to
environmental laws and regulations which may increase costs
of doing business and restrict our operations; risks related
to mineral properties being subject to prior unregistered
agreements, transfers, or claims and other defects in title;
risks relating to inadequate insurance or inability to obtain
insurance; risks related to potential litigation; risks
related to the global economy; risks related to the Company's
status as a foreign private issuer in the United States;
risks related to all of the Company's properties being
located in Mexico and El Salvador, including political,
economic, social and regulatory instability; and risks
related to officers and directors becoming associated with
other natural resource companies which may give rise to
conflicts of interests. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from
those described in the forward?looking statements. The
Company's forward?looking statements are based on beliefs,
expectations and opinions of management on the date the
statements are made. For the reasons set forth above,
investors should not place undue reliance on forward?looking
statements.
The information provided in this news release is not intended
to be a comprehensive review of all matters and developments
concerning the Company. It should be read in conjunction with
all other disclosure documents of the Company. The
information contained herein is not a substitute for detailed
investigation or analysis. No securities commission or
regulatory authority has reviewed the accuracy or adequacy of
the information presented.
"J. Scott Drever"
J. Scott Drever, President
SILVERCREST MINES INC.Contact: Fred Cooper
Telephone: (604) 694?1730 ext. 108
Fax: (604) 694?1761
Toll Free: 1?866?691?1730
Email: info@silvercrestmines.com
Website: www.silvercrestmines.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.distribué par | Ce noodl a été diffusé par SilverCrest Mines Inc. et initialement mise en ligne sur le site http://www.silvercrestmines.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-12 15:10:37 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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SilverCrest Reports Record Production in Q4 at Santa Elena, Silver Production Up 23% to 131,045 Ounces, Gold Production Up 8% to 9,536 Ounces |