SILVERCREST�S FORM 40-F
REGISTRATION STATEMENT EFFECTIVE
VANCOUVER, BC � August 2, 2011 � SilverCrest Mines Inc.
(�SilverCrest�) is pleased to announce that its
registration statement on Form 40-F, filed on May 31, 2011, with the United
States Securities and Exchange Commission (�SEC�) to register its common
shares under Section 12 of the Securities Exchange Act of 1934, as amended
(the �U.S. Exchange Act�), automatically went effective on August 1, 2011
pursuant to Section 12(g)(1) of the U.S. Exchange Act. As a result, SilverCrest is now a reporting issuer under the U.S.
Exchange Act and broker-dealers in the United States will now be able to effect transactions in common shares of SilverCrest in the United States. SilverCrest
common shares trade in Canada on the TSX Venture Exchange through Canadian
The Company intends to submit an application to have its common shares
quoted on the OTCQX trading platform which is the top tier of the
broker-dealer quotation services operated by OTC Markets Inc. The OTCQX is
a broker-dealer trading platform with rules and listing standards that
facilitates trading in over 9000 securities in the United States. The OTCQX
is designed to meet the needs of an international public company such as SilverCrest by providing a trading platform in the
United States that offers many of the benefits of the traditional U.S.
stock exchanges. The Company expects that its shares will be accepted for
quotation on the OTCQX in the next 30-60 days.
SilverCrest Mines Inc. (TSX-V: SVL) 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 150km 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.
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 and the costs associated with
SEC reporting and timing of quotation on the OTCQX. 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.
�J. Scott Drever�
J. Scott Drever, President
For further information, please contact:
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.