SilverCrest Submits Environmental Impact
Assessment;
Receives Land Use Change Approval
for Santa Elena Project, Mexico
| TSX-V: SVL |
For Immediate Release |
VANCOUVER, B.C.May 21, 2008- SilverCrest Mines Inc. (the
"Company") reports that it has reached several important milestones in
advancing the Santa Elena project to production.� Those important achievements are:
- �������
Environmental Impact Assessment submitted April 28, 2008. Official review
period is 90 business days.
- ������
Pre-Feasibility Study in final review by independent
QP's. Results expected over the next several weeks.
- ������ Land Use Change authorization granted April,
2008.
The Company has submitted its Environmental Impact Assessment /
Manifestacion de Impacto Ambiental (MIA) for the Santa Elena project in Sonora
Mexico. The MIA was officially
submitted on April 28, 2008
to the Secretaria de Medio Ambiente y Recursos Naturales of Mexico (SEMARNAT)
for review and is the principal document in the application process for a mine
operating permit. The official review period for the
MIA is 90 business days during which requests for additional information may be
made by SEMARNAT.
Over the past 12 months, the Company has
been systematically completing a Pre-Feasibility Study and the MIA with the expectation
of submitting an application for mining operations. The Pre-Feasibility Study
is currently undergoing final review by independent Qualified Persons and will
result in the re-estimation of resources and the conversion of approximately
70%-80% of the current Indicated Resources to Probable Reserves which will
include a Proven Reserve component. Completion of this review will also enable
the Company to present the full set of financial and operating parameters used
to determine the economic viability of the project.
J. Scott Drever, President
stated; "The submittal of the
Environmental Impact Assessment is obviously an important milestone in our
drive to move this project to production. We believe we have produced an
exceptionally complete document that should receive approval within the
official review period. We are also looking forward to being able to disclose
the results of our Pre-Feasibility Study in the next couple of weeks and are
confident that it will support our internal studies that show the Santa Elena project
to be extremely robust at current precious metal prices. We expect to begin
committing to equipment and plant purchases in the next few weeks to maintain
the planned time line for full production in the first half of 2009."
The Company submitted an application for a Land
Use Change authorization to re-classify the mine site area usage from forestry
to mining. The application was submitted by the Company to SEMARNAT in January,
2008. The authorization was granted in April, 2008 and can be activated by
paying the prescribed fee. Payment of this fee will be made in conjunction with
the receipt of approval of the MIA.
The Santa Elena Project 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
property.
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. is a "Silver
Focused" exploration and development company with a portfolio of high grade
silver deposits and exploration properties located in Mexico and El Salvador.
This property portfolio, which includes reported indicated and inferred silver
resources and substantial exploration potential, provides an important base
from which SilverCrest can develop its corporate objective of becoming a
significant silver asset based company. The Company's immediate initiative is
to acquire and develop substantial silver resources and ultimately to operate
high grade silver mines throughout North, Central and South America.
This news release contains forward-looking
statements, which address future events and conditions, which are subject to
various risks and uncertainties. The Company's actual results, programs and
financial position could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors, some of which may
be beyond the Company's control.� These
factors include: the availability of funds; the timing and content of work
programs; results of exploration activities and development of mineral
properties, the interpretation of drilling results and other geological data,
the uncertainties of resource and reserve estimations, receipt and security of
mineral property titles; project cost overruns or unanticipated costs and
expenses, fluctuations in metal prices; currency fluctuations; and general
market and industry conditions.
Forward-looking
statements are based on the expectations and opinions of the Company's
management on the date the statements are made.�
The assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be imprecise
and, as such, undue reliance should not be placed on forward-looking statements
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