The Gold Report

SilverCrest Mines Inc. TICKER: SVL:TSX.V; STVZF:OTCQX Visit Company Website SilverCrest Mines Inc. is a Mexican precious metals producer. Its flagship property is the 100%-owned Santa Elena mine. The mine is a high-grade, epithermal gold and silver deposit, and the company anticipates that the current 2,500 tpd facility will produce approximately 4.8 Moz silver and 179 Koz gold over the 6.5-year mine life of the initial open-pit heap leach operation. A three-year expansion plan is underway to double production. The Cruz de Mayo silver satellite deposit is the subject of a prefeasibility study. The 100+ Moz Ag eq La Joya project is a silver-copper-gold bulk tonnage target that is being aggressively explored.

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

Christos Doulis, Stonecap Securities (5/8/12) "SilverCrest Mines Inc.'s drill results continue to show the prospectively of the La Joya deposit and we await results from the more prospective southeast portion of the hill. . .the company provides investors with immediate and growing cash flow from its Santa Elena mine as well as exposure to the exciting potential bulk tonnage La Joya project. We are maintaining our Outperform rating and $3.75 target price."

Nicholas Campbell, Canaccord Genuity (5/7/12) "Silvercrest Mines Inc. reported 16 holes from the 80-hole phase 2 drill program at La Joya. . .the results indicate an extension of the resource by 200m to the northeast and 100m to the southwest, extending the mineralized trend to 2,500m with an average width of 500–700m. Grades and intervals ranged from 24.5–445.6 g/t Ag eq and 3.5–127.4m, respectively. . .the phase 2 drill program at La Joya continues to demonstrate the potential to significantly expand the current resource base."

Christos Doulis, Stonecap Securities (4/27/12) "SilverCrest Mines Inc. provides investors with immediate and growing cash flow from its Santa Elena mine as well as exposure to the exciting potential bulk tonnage La Joya project. With metal production expected to double by 2014, the company will soon enter the ranks of midtier precious metals producers—we are initiating coverage with a $3.75 target price and Outperform rating."

Jordan Roy-Byrne, The Daily Gold Premium (4/26/12) "SilverCrest Mines Inc. became a producer in 2011 as it put its Sonora-state located Santa Elena gold-silver project into production on time and under budget; that is an amazing feat for a small operator. . .near the end of last year we rediscovered the company, thanks to its impressive relative strength in a tough market and positive news from the company's phase 1 drilling program at its La Joya property in Durango, Mexico. . .with its present value, cash flow growth, potential production growth and large resource base, SilverCrest has everything we look in a junior producer."

Nicholas Campbell, Canaccord Genuity (4/20/12) "SilverCrest Mines Inc. reported Q112 production of 134,528 oz silver and 9,405 oz gold, significantly outperforming our forecast for production of 107,814 oz silver and 7,444 oz gold. . .recoveries of 70% for gold and 38% for silver far exceeded our expectation for recoveries of 50% and 27%, respectively. . .SilverCrest reiterated its guidance for production of 435,000 oz silver and 33,000 oz gold in 2012. We believe that the company is being conservative; we forecast production of 35,000 oz gold and 605,000 oz silver."

• Corporate Presentation (1/16/12)
• Corporate Brochure (9/6/11)

(3/13/12) CEO Scott Drever on BNN

(10/18/11) SVL News Alert

(9/27/11) SVL: inSITE Report

(8/8/11) SVL's Santa Elena Expansion Plan Animation

(4/30/12) Interview with COO Eric Fier

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