SilverCrest Mines Inc.
TSX VENTURE : SVL

SilverCrest Mines Inc.

October 18, 2007 08:00 ET

SilverCrest Intercepts 51.4 Metres of 1.53 gpt Gold and 126 gpt Silver at Santa Elena, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2007) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL) is pleased to report assay results for the next 4 core holes of an ongoing Phase II 40 drill hole 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 core holes reported (to view attached drill plan for hole locations please click on the following link: http://www.ccnmatthews.com/docs/SVL1018.pdf) are part of the current program to in-fill and expand the current reported resources for the project. Of this series of holes, the most notable near-surface intercept was encountered in hole SE07-40 which intercepted 51.4 metres (168.5 feet) grading 1.53 gpt (0.04 opt) gold and 126.9 gpt (3.7 opt) silver. This interval included 6.1 metres (20.0 feet) grading 5.12 gpt (0.15 opt) gold and 646 gpt (18.7 opt) silver. The results for this series of core holes at Santa Elena are as follows:



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Weighted Average Grades
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Au Ag
Inter- Inter- gpt gpt
Drill From To val val Au Ag equiv equiv
Hole (m) (m) (m) (ft) gpt gpt (i) (i)
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SE07-37 125.1 140.5 15.4 50.5 0.51 59.8 1.71 85.30
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SE07-38 51.8 92.2 42.9 140.7 0.85 61.9 2.10 104.57
includes 59.3 65.0 5.7 18.7 1.61 224.4 6.10 304.79
includes 88.0 95.6 7.6 24.9 1.82 79.9 3.41 170.74
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SE07-39 105.6 139.5 33.9 111.2 1.15 94.4 2.72 137.14
includes 109.0 128.0 19.0 62.3 1.61 110.8 3.83 191.65
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SE07-40 108.0 159.4 51.4 168.8 1.53 126.9 4.07 203.42
includes 108.0 138.6 30.6 100.3 2.50 195.9 6.42 321.16
includes 111.4 124.8 13.4 43.9 3.80 342.1 10.64 531.92
includes 118.7 124.8 6.1 20.0 5.12 646.0 18.04 902.17
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(i) Conversion is based on a 50:1 Silver to Gold ratio and assumes 100%
metal recovery


Hole number SE07-36 was lost due to down-hole problems and has been re-drilled as SE07-36B with an 18m wide intercept of mineralization. All results for 36B are pending analysis and will be reported in the near future. Twenty four Phase II holes have been drilled to date (approximately 2,200m) with results reported for 21 holes.

For holes SE07-37, 39 and 40, the estimated true width of the mineralized zone averages 26 metres (85 feet) grading an estimated 161.5 gpt (4.7 opt) silver equivalent. The higher grade portion of the Main Zone is now present from surface to a vertical depth of approximately 200 metres or twice that previously announced. The grades and thicknesses encountered in these holes continue to show good mineralized continuity with increasing values and widths to the east where further expansion drilling is planned. Once drilling is complete, a new resource will be estimated and should result in upgrading most of this area from inferred to indicated resources.

All samples are being analyzed at ALS-Chemex in Hermosillo, Mexico and North Vancouver, BC, Canada.

The deposit currently remains open to the north (Footwall Zone), to the east and to depth. All of which will be further tested with the remaining holes of the Phase II drill program. A geophysical program of IP and magnetics is being scheduled to test for the potential western extension of the main zone mineralization which has been faulted off and may have been down dropped and covered by unconsolidated pediment materials. Identification of the extension of the main zone in this area would open the deposit to the west. The IP and magnetic surveys are also expected to better define structural features and parallel zones that have been partially identified at surface.

J. Scott Drever, President, stated; "These holes are particularly significant because they will serve to convert much of what was inferred resources in our current estimate to indicated resources. Given the shallow depth of the intercepts we expect that this material should fall within the limits of the proposed preliminary open pit. The higher grades and extraordinary widths encountered in holes SE07-39 and SE07-40 are also certainly encouraging as these two holes are on the eastern boundary of the current resource estimate. We have drill hole locations spotted to intersect the zone further to the east and to depth, which if successful, will begin to add new size and dimensions to the deposit and our current resource base. The results of the program to date continue to exceed our expectations as the size of the deposit continues to grow and the grades of gold and silver encountered continue to increase."

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 "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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