SilverCrest Continues to Expand Main
Zone
at Santa Elena, Mexico
| TSX-V: SVL |
For Immediate Release |
VANCOUVER,
B.C.April 8, 2008- SilverCrest Mines Inc. (the "Company") is pleased to report
results for the next series of core holes of an "expanded" Phase II �drill program at its Santa Elena Project
located in northern Mexico. �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.
The most notable intercepts of this
series of holes were encountered in SE08-70,
which intercepted 21 metres (68.88 feet)
grading 1.41 gpt gold and 109.53 gpt silver and in SE08-75, which intercepted 11.4
metres (37.39 feet) grading 2.83 gpt gold and 150.15 gpt silver. Overall,
the results for expansion drilling continue to show strong, continuous gold and
silver values over widths of 11 to 21 metres as drilling moves east and to
depth. Average width of the Main Zone in the eastern area is approximately 15
metres and is similar to the rest of the deposit. The Main Zone has been traced
on surface for approximately 1300 metres and has been encountered in drill
holes to a vertical depth of more than 500 metres.
The Company's current NI 43-101
compliant resource is based on 40 drill holes and the on-going drill program is
currently drilling hole SE08-81.� Including
the holes reported below, the Company has provided results for 75 holes. The 16 core holes reported below (see attached
drill plan for hole locations) are part of the current program to in-fill and
expand the recently reported NI 43-101 Indicated and Inferred Resources (see
news release dated November 15, 2007) for the project. The detailed results are shown below:
 Holes SE07-62 through SE08-75 are considered "expansion" holes and are outside
the boundaries of the current resource estimates shown in the table below.
These holes are being incorporated into a new resource model with revised resource
estimates expected to be announced in the second quarter of 2008. No
significant faulting or displacement of the Main Zone has been identified to
date. The expansion drilling has identified a high grade zone of gold and
silver values, plunging to the southeast, with lower grade values above and
below the higher grade zone. Grades range from approximately 1.4 to 5.1 gpt
gold and 109.5 to 342.7 gpt silver. Gold values appear to be relatively
consistent within this range while silver grades appear to be increasing to the
east and to depth.
Hole SE08-63 and SE08-64 intercepted the
eastern extension of Main Zone near surface. The zone is approximately 30m wide
and is anomalous in Au, Ag, Ba, and Sb. This is fairly typical of the upper
levels of high level, epithermal mineralization in stockwork veining.. The down
dip extension of the Main Zone approximately 175 metres below SR08-63 was intercepted
in hole SE08-72, and returned 20.7m of 1.08 gpt Au and 123.15 gpt Ag.� The Main Zone still remains open to the east and to
depth and will be further tested with the remaining 10 to 15 holes of the Phase
II drill program.
Hole SE08-69 intercepted
silver-lead-zinc mineralization at a vertical depth of approximately 525 metres
with most assays still pending. This is the first hole to depth that has
intercepted any appreciable amount of base metals.
Hole SE08-71 was drilled in the Footwall
Zone immediately adjacent to the Santa Elena Main Zone and showed minimal gold
and silver values. The Footwall Zone consists mainly of quartz stockwork in
shears and structures that are generally perpendicular to the Main Zone. There
has been sufficient drilling in the Foot Wall Zone for it to be included in the
next resource estimate as it would likely be mined as a part of any proposed
initial open pit.
Drill holes SE07-66,
SE08-67 and SE08-74 were drilled outside the Main Zone area to test geophysical
targets. Results for these holes show no significant values, however, large
breccia zones with substantial pyrite (5%-40%) were encountered that may be indicative
of a nearby mineralized system. The geophysical signatures of the anomalies are
quite similar to that exhibited by the Main Zone and are quite extensive. Additional
exploration will be required to determine if potentially economic metal values
can be identified.
All samples were analyzed at ALS-Chemex Labs in Hermosillo, Mexico and North Vancouver, BC, Canada.
The most recent resource estimate for Santa
Elena is shown in the table below: 
1 Conforms to NI 43-101, 43101CP and current CIM definitions for
resources. All numbers are rounded. Measured resources included in Indicated.
2 �� Cutoff
grade is 30 gpt Ag equivalent (0.5 gpt Au equivalent).
Detailed
results for the drilling, surface and underground sampling related to the
resource calculation can be found in numerous press releases filed on SEDAR
(sedar.com) or on the Company's web site (www.silvercrestmines.com).
J. Scott Drever, President stated; "We continue to be impressed with
the continuity, predictability and strength of the Main Zone. Using our
geological model we are able to predict projected intersections within a few
metres. Based on this predictability we have contracted a reverse circulation
drill that will enable us to pre-collar a number of deeper holes and then core
the zone intersection with the core drill that is on site. This will speed the
process of exploration while reducing overall costs significantly. Meanwhile,
we have essentially concluded the technical and economic aspects of our
pre-feasibility study and are in the process of having it vetted by independent
Qualified Persons. The Environmental Impact Study that is required for permit
applications for a potential open pit, heap leach operation is complete and is
expected to be filed in the next few weeks."
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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