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
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:
|
2011
|
Q4
2011
|
Q3
2011
|
Q2
2011
|
Q1
2011
|
Silver ounces produced
|
377,071
|
131,045
|
106,636
|
74,678
|
64,712
|
Gold
ounces produced
|
26,969
|
9,536
|
8,805
|
5,476
|
3,152
|
Silver equivalent ounces
produced (1)
|
1,737,418
|
667,766
|
575,079
|
310,090
|
184,483
|
|
|
|
|
|
|
Silver ounces sold
|
344,546
|
120,199
|
96,631
|
70,326
|
57,390
|
Gold
ounces sold
|
23,962
|
9,702
|
7,627
|
4,300
|
2,333
|
|
|
|
|
|
|
Tonnes Ore
|
981,590
|
328,625
|
248,192
|
249,214
|
155,559
|
Tonnes
waste
|
3,697,291
|
1,417,413
|
1,058,909
|
708,049
|
512,920
|
Waste/ore ratio
|
3.77
|
4.31
|
4.27
|
2.84
|
3.30
|
|
|
|
|
|
|
Ore
tonnes crushed
|
1,050,022
|
328,945
|
253,496
|
249,054
|
218,527
|
Average ore tonnes
crushed per day
|
2,877
|
3,575
|
2,755
|
2,737
|
2,428
|
|
|
|
|
|
|
Average silver ore
grade (gpt)loaded on pad
|
44.77
|
49.55
|
48.47
|
44.09
|
34.07
|
Average gold ore
grade (gpt) loaded on
pad
|
1.82
|
1.90
|
2.20
|
1.91
|
1.14
|
|
|
|
|
|
|
Silver ounces delivered
to pad
|
1,511,807
|
524,375
|
395,068
|
352,995
|
239,369
|
Gold
ounces delivered to
pad
|
61,280
|
20,094
|
17,912
|
15,268
|
8,006
|
|
|
|
|
|
|
Ag
: Au Ratio (1)
|
50.4:1
|
56.3:1
|
53.2:1
|
43:1
|
38:1
|
(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, M�xico. 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 the
2,500 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
For further information, please
contact:
Fred Cooper
570 Granville Street, Suite 501
Vancouver, BC V6C 3P1
Neither TSX Venture
Exchange nor its Regulation Services Provider (as that
term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this
release.
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