SilverCrest Mines Inc.

SilverCrest Mines Inc.

November 29, 2007 08:00 ET

SilverCrest Intercepts 32.9 Metres of 367 gpt (10.7 Ounces) Silver & Silver Equivalent at Santa Elena

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL) 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 drill program is currently drilling hole SE07 - 63 with an additional 10 holes expected to be completed on the Main Zone expansion. 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.

These 10 core holes are part of the current program to in-fill and expand the newly reported indicated and inferred resources (see news release dated November 15, 2007) for the project. The most notable intercept of this series of holes was encountered in hole SE07-41 which intercepted 32.9 metres (107.9 feet) grading 3.0 gpt gold and 187.2 gpt silver (367.1 gpt (10.7 opt) silver equivalent). The detailed results are shown below and the drill hole locations are shown on the attached drill plan (to view attached drill plan for hole locations please click on the following link:

Average Grades
Au Ag
Inter- Inter- gpt gpt
Drill From To val val Au Ag equiv equiv
Hole (m) (m) (m) (ft) gpt gpt (i) (i) Note
SE07-41 114.05 146.95 32.90 107.91 3.00 187.2 6.11 367.1 Expansion
includes 137.0 146.95 9.95 32.63 5.56 409.6 12.38 743.3 Expansion
SE07-42 28.85 49.0 20.15 66.09 2.42 73.0 3.64 218.6 In-fill
includes 34.0 43.0 9.0 29.52 4.74 125.4 6.83 410.0 In-fill
SE07-42a 30.0 60.0 30.0 98.40 1.50 47.6 2.29 137.5 In-fill
includes 30.0 54.0 24.0 78.72 1.84 52.0 2.70 162.4 In-fill
SE07-43 36.58 47.8 11.22 36.80 2.73 28.2 3.21 192.6 In-fill
SE07-43a 43.05 56.0 12.95 42.47 3.54 55.9 4.47 268.3 In-fill
SE07-44 3.0 17.5 14.5 47.56 0.77 28.7 1.25 75.4 Footwall
SE07-45 2.0 15.9 13.3 43.62 0.51 20.1 0.84 50.9 Footwall
SE07-46 2.0 11.0 9.0 29.52 0.90 42.0 1.60 96.1 Footwall
SE07-47 4.5 23.2 18.7 61.33 0.63 74.6 1.88 113.0 Footwall
SE07-48 7.0 16.0 9.0 29.52 0.20 27.3 0.65 39.5 Footwall
(i) Conversions are based on a ratio of 1:60 Au:Ag and assume 100% metal
recovery. All numbers are rounded.

Hole number SE07-41 is one of approximately 20 expansion holes drilled or planned along the eastern extension of the Main Zone where high grade, thick intervals continue to be intercepted. Hole number SE07-42 and SE07-43 were lost due to down-hole problems and were re-drilled as SE07-42a and SE07-43a. Holes SE07-44 to SE07-48 were drilled in the footwall of the Main Zone to test surface mineralization and cross structures and did not intercept the Main Zone mineralization. This drilling intercepted footwall mineralization with an estimated true width of 14 metres and an average grade of 85.60 gpt (2.49 opt) silver equivalent. This zone potentially represents an "at-surface" expansion of the Main Zone resources not included in previous estimates. The footwall mineralization appears to have a strike length of 400m with a down dip length of 30 to 50 metres. 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:

Santa Elena Silver and Gold Resources
Resource Ag Au
Property Category(1) Tonnes gpt gpt
Santa Indicated 7,378,300 74.20 1.81
(2) Inferred 2,608,000 73.06 1.37

Contained Contained Equiv.
Resource Ag Au Silver Gold Ounces
Property Category(1) Tons opt opt Ounces Ounces (3)
Santa Indicated 8,133,200 2.16 0.053 17,600,900 428,700 43,327,100
(2) Inferred 2,874,800 2.13 0.040 6,125,700 114,800 13,016,700

(1) Conforms to NI 43-101, 43101CP and current CIM definitions for
resources. All numbers are rounded. Measured resources included in
(2) Cutoff grade for Santa Elena is 30 gpt Ag equivalent (0.5 gpt Au
(3) Conversion of gold to silver based on 60:1 silver to gold ratio,
Assumes 100% metal recovery.

Detailed results for the drilling, surface and underground sampling related to the resource calculation can be found in numerous press releases filed on SEDAR ( or on the Company's web site (

The Main Zone currently remains open to the north, to the east and to depth, all of which will be further tested with the remaining holes of the Phase II drill program. A program of 33 line kilometres of Induced Polarization and magnetic geophysics is currently being completed to test for the potential extensions of the Main Zone and better define structural features and parallel zones that have been partially identified at surface. Initial results appear to confirm the approximate 1200 metre strike length of the Main Zone and suggest that several parallel zones are present with geophysical signatures similar to the Santa Elena Main Zone.

J. Scott Drever, President, stated; "The Main Zone has now been confirmed by drilling over a strike length of approximately 800 metres and our current resource of 56.3 million ounces of silver and silver equivalent falls within this strike length. The surface expression of the zone has been traced for an additional 400 metres which our geophysical surveys appear to confirm. We are eager to see the results of the planned drilling and what they will tell us about the potential increase in resources and the ultimate size of this deposit. Meanwhile we are finalizing the technical and economic parameters of our pre-feasibility study and proceeding with the preparation of various permitting applications for a potential open pit, heap leach operation".

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.

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

J. Scott Drever, President

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

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