SilverCrest Mines Inc. | Company Profile

About The Company

SilverCrest Mines Inc. is an exploration and development company with a portfolio of high grade silver-gold deposits and exploration properties located in Mexico and El Salvador. The Company's long term initiative is to acquire, develop and operate high grade open pit silver-gold mines throughout North, South and Central America. Primary targets will be silver-gold projects that are amenable to accelerated development and early production.

The Projects

The Santa Elena Project (Mexico) 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.

SilverCrest has completed a Pre-Feasibility Study on its Santa Elena open pit gold and silver mine in Sonora, Mexico. The study has converted approximately 73% of the project's Indicated Mineral Resources to Proven and Probable Reserves. The Base Case economics show a pre-tax Internal Rate of Return of 100% and a pre-tax cash flow of US$103.7 million. The payback period for the initial capital of US$20 million is approximately 12 months. The open pit heap leach operation will process ore at a rate of 2,500 tonnes per day and is expected to produce an average of 30,000 ounces of gold and 500,000 ounces of silver per year for an estimated mine life of 8 years. For the Base Case, the average net cash flow (pre-tax) is approximately US$10 million per year over the mine life. After initial capital payback, average net cash flow (pre-tax) for each of years 2 and 3 is projected to be greater than US$20 million. The potential underground operation with possible conventional milling has not been included in this evaluation.

Cruz de Mayo Project (Mexico)

Indicated Resources are estimated at 1.1 million tonnes grading 64.15 gpt Ag and contain 2.3 million ounces of silver based on a 30 gpt silver cut-off grade. Inferred Resources are estimated at 6.0 million tonnes grading 66.5 gpt Ag, and contain 12.9 million ounces of silver. The gold resource estimate is still pending. The average uncut gold grade is approximately 0.1 gpt Au.

The resource statements for Cruz de Mayo are based on recent information collected by SilverCrest Mines in 2006 and 2007. The most significant components of the data are the compiled results from 50 drill holes (5,096.3 metres).

El Zapote Project (El Salvador)

SilverCrest (SVL) has a 100% interest in mineral concessions located in northern El Salvador. The property is at the feasibility stage where it has, among other things, established mineable reserves, optimize process design (conventional mill or heap leach), verify capital and operating costs and evaluate the economic viability of the project.

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.

For more detailed information about the projects and the company in general, please visit the website of SilverCrest Mines!

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