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SilverCrest Mines Inc.

TICKER: TSX.V: SVL

DESCRIPTION: SilverCrest Mines Inc. is focused on developing and producing high grade, open pit silver deposits in Mexico and El Salvador. Its near term objectives are to bring the Santa Elena Deposit in Sonora, Mexico to production status and cash flow in the next 8 to 10 months.

View David Morgan, Silver-Investor.com, video interview with Eric Fier, COO of SilverCrest Mines
ViewSanta Elena Mine Tour, I
View Santa Elena Mine Tour, II
View Interview on Newsmakers
View CEO Interview with Fundamental Research analyst Vincent Weber and SilverCrest Mines President Scott Drever
Listen to Jay Taylor interview Scott Drever (1/26/10)

WEBSITE: http://www.silvercrestmines.com
Corp. Pres. (9/09) Q2 Finls Q2 MD&A

The information below is based on the most recent information we have received from analysts and the companies participating in The Gold Report. We encourage you to visit the company's web site for updates.

"SVL has continued to climb steadily in price as they move close to production at their Santa Elena project—a high-grade gold and silver, open-pit heap-leach mine that is expected to make its initial pour of gold and silver by mid-year. It is scheduled to reach commercial production in the fourth quarter of this year with the 2,500-tonne-per-day facility expected to produce approximately 35,000 ounces of gold and 600,000 ounces of silver per year over a 7-year mine life at an estimated life-of-mine cash cost of less than US$375 per ounce of gold-equivalent. The Santa Elena project is fully financed and major site preparation has been under way since September, 2009.

The economics of mine look very strong and the stock only has a market cap of about $43 million. There is also good exploration upside at the mine site to continue production beyond the current 7 year mine life. We should see a much higher stock price later this year as cash flow kicks in.

I am going to move Silvercrest over to the emerging producers on the Selection List."
- Struthers Resource Stock Report (01/24/10)

". . .this is a very, very undervalued emerging gold and silver mining producer.

The Santa Elena looks very exciting to your editor, especially given this company's current low market capitalization. Production is slated to begin by the middle of this year. The open-pit heap-leach mine, with an average grade of 2 grams/tonne gold and 60 grams per tonne silver, is expected to produce 35,000 ounces of gold per year and 600,000 ounces of silver per year. The cost of gold production when applying a silver credit is $375/oz. Even at $765 gold and $11.95 silver (the numbers upon which feasibility studies were conducted), the project returned an internal rate of return of 100% and a payout of capital of just one year. Clearly, at current gold and silver prices ($1,091 and $16.97, respectively), the project's economics figure to be even more robust.

If we assume the current price of gold and apply $11.95 for silver as a credit against the cost, thus keeping the cash cost of gold production at $375, the project would produce $25 million in operating cash flow, meaning that the stock is currently selling at a mere 1.6 times cash flow.

If this company can execute its business plan and the project performs according to feasibility studies, we would expect these shares to rise dramatically, even on the basis of this relatively small-scale Santa Elena Project. However, there is reason to believe the Santa Elena has considerable upside production potential from more oxide resources on surface as well as higher-grade sulfides at depth."
- J.Taylor's Energy & Energy Tech Stocks (01/22/10)

TGR: Any other standouts in your MSG Model you want to talk about?

TW:. . .SilverCrest Mines Inc. (TSX.V:SVL), likewise, has done a great job of building resources and developing their project with minimal dilution to shareholders. It's now fully financed and has begun construction at Santa Elena. They are pouring concrete and have all the equipment standing by to build a heap leach mine. They should be pouring gold by June.
- The Gold Report Interview with Trey Wasser (Pt. II) (01/11/10)

"Shares of SilverCrest continue to creep toward the C$1.00 level as we move closer to production at the Santa Elena Mine. We had to be patient on this one, but it looks like we will finally get our reward as the timing of production and higher silver prices could work out quite well for the shareholders.

I expect the share price will continue to improve and take a nice run once production commences. As that happens we could see some buy-out opportunities of SilverCrest with producing companies desperate to increase their reserves. . ."
- Mining Speculator (01/07/10)

". . .News has been very sparse but everything appears to be on track for a late first quarter start to the Santa Elena mine.

In my opinion, the SilverCrest production will be coming online just as silver prices begin to spike higher. This should be very bullish for our share price as we get the effects of the red category along with much higher silver prices working together in our favor.

This is a good time to begin accumulating an initial or larger position in the stock.

SilverCrest remains a STRONG BUY at current levels."
- Mining Speculator (11/29/09)

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