SilverCrest Mines Inc.
TSX VENTURE : SVL

SilverCrest Mines Inc.

June 25, 2009 12:29 ET

SilverCrest Mines Inc. Announces Closing of Public Offering and Exercise of Over-Allotment Option

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 25, 2009) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES

SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL) is pleased to announce completion of the public offering announced June 15, 2009 and exercise in full of the over-allotment option for aggregate proceeds of $6,325,000.

J. Scott Drever, President, stated: "As previously announced, the US$12.5 million Project Loan Facility with Macquarie Bank Limited and the US$12.0 million Gold Purchase Agreement with Sandstorm Resources Ltd., will be sufficient to fund the remaining capital expenditures for mine development and complete the acquisition of the Santa Elena gold and silver project in Mexico. These proceeds of the public offering will enable us to continue our exploration of the potential expansion of resources at Santa Elena as well as examine other potential growth alternatives."

The offering and over-allotment option consisted of a total of 12,650,000 units at a price of $0.50 per unit, led by Jennings Capital Inc. and including Paradigm Capital Inc. Each unit consists of one common share of the Company and one-half of one common share purchase warrant, each whole warrant exercisable for one common share at a price of $0.65 for a period of 18 months. If, at any time, the closing price of the Company's common shares on the TSX Venture Exchange is greater than $1.00 per share for 20 or more consecutive trading days, the Company may give written notice to the holders of the warrants of such event, and the warrants will expire on the date that is 20 calendar days after the date the Company issues a news release announcing such event.

Agents' compensation consisted of cash commission equal to 6% of the gross proceeds of the offering together with agent's warrants entitling the agents to acquire 759,000 common shares of the Company at a price of $0.65 per common share for a period of 18 months.

The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("1933 Act") or any state securities laws, and may not be offered or sold in the United States unless registered under the 1933 Act or unless an exemption from registration is available.

SilverCrest Mines Inc. is a "Silver Focused" exploration and development company with a portfolio of high grade silver and gold 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.

J. Scott Drever, President

SILVERCREST MINES INC.

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.

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