SilverCrest Mines Inc.
TSX VENTURE : SVL
FRANKFURT : CW5

SilverCrest Mines Inc.

January 18, 2007 20:46 ET

SilverCrest Commences Phase II Drilling at Cruz de Mayo Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL)(FWB:CW5) is pleased to announce it has commenced a 15 hole reverse circulation drill program totaling approximately 1,500 metres on its Cruz de Mayo Project in northern Mexico. The program will retest a number of Phase I core holes which had marginal recovery in the mineralized zone and will potentially expand known silver mineralization. Cruz de Mayo is located approximately 180 kilometres northeast of Hermosillo, Sonora, Mexico. The area is easily accessible and has excellent local infrastructure. The Company has the rights to 100% interest in the Cruz de Mayo prospect.

The 23 hole, Phase I drilling at Cruz de Mayo in 2006 (see press releases dated August 24, 2006 and October 26, 2006 for detailed results) partially defined a shallow-dipping, near surface mineralized zone that is from 1 to 35 metres in true width and over two kilometres in strike length. The most significant drill intercept was 8.75 metres (28.7 feet) grading 343 gpt (10 opt) silver and 0.43 gpt (0.01 opt) gold in drill hole CM-02.

The current reverse circulation drill program (see attached plan map for drill locations: http://www.ccnmatthews.com/docs/CruzDeMayoPhaseII.jpg) will further explore this significant trend of silver mineralization and should provide sufficient data to prepare a NI 43-101 Technical Report with a compliant, resource estimation. The Company is proceeding with the development of a geological model that will enable the estimation of a NI 43-101 compliant resource as soon as the necessary data is acquired. Timing of the Cruz de Mayo technical report will be contingent on the completion of the lab test work and the current reverse circulation drilling program.

In August 2006, the Company reported drilling results from Cruz de Mayo. There was evidence that suggested that the nature of the silver mineralogy of the deposit and the ICP analytical technique used may have understated the silver values. On the recommendation of ALS-Chemex of Vancouver, the Company re-analysed 82 samples from five drill holes. Results of the 4 acid digest analytical method showed improvements of 19%-226% in silver values for previously reported intervals compared to the same sample intervals analysed using standard ICP procedures. Both ICP and the 4 acid digest are standard analytical procedures for the determination of silver values. Re-analysis of the complete drill intercepts enabled the intervals of significant silver values to be expanded by 25% to 387%. Recalculation of the weighted average silver grades resulted in increases of 45% to 200% in silver values.

The specific reasons for the grade differences at Cruz de Mayo have not been identified at this time. However, it has been established that where silver halides are present in southwest US and Mexican silver deposits, silver grades are often understated when analysed using ICP analysis. The Company is undertaking mineralogical studies and metallurgical work to determine the source of the variances. The re-analyzing of all the remaining core holes using four-acid digest method is nearing completion and the results will be reported once the weighted average values have been calculated. Preliminary bottle roll testing will be undertaken in the first quarter of 2007 to determine initial metal recoveries.

The confirmation of historical drill results, the improvement in silver grades and mineralized intervals and extension of the silver mineralization along strike are exciting. The drill program currently under way will further define Cruz de Mayo as a potential large tonnage, low grade silver deposit.

The Qualified Person for this news release is N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc.

SilverCrest Mines Inc. is a "pure silver" exploration and development company with a portfolio of high grade silver deposits and exploration properties located in El Salvador and Mexico. 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.

On Behalf of the Board of Directors of SilverCrest Mines Inc.

J. Scott Drever, President

To view the map accompanying this release please click on the following link: http://www.ccnmatthews.com/docs/CruzDeMayoPhaseII.jpg

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

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