SilverCrest Mines Inc.

SilverCrest Mines Inc.

January 04, 2005 16:45 ET

SilverCrest Updates Status of Drill Programs


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SILVERCREST MINES INC.

TSX VENTURE SYMBOL: SVL

JANUARY 4, 2005 - 16:45 ET

SilverCrest Updates Status of Drill Programs

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 4, 2005) - SilverCrest
Mines Inc. (the "Company") (TSX VENTURE:SVL) is pleased to announce the
results of the initial 11 drill holes completed at the Silver Angel
Prospect in Mexico and 3 drill holes at the Blackstone Project in Idaho.
Drilling continues at the Company's 100% owned El Zapote Project in El
Slavador and an update on these results is expected to be announced in
the near future.

SILVER ANGEL PROSPECT, MEXICO

The Silver Angel Prospect is located within the Angel de Plata
Concession near Arizpe, State of Sonora, Mexico and is one of several
areas identified within a large area of alteration and silver-gold
mineralization (8 x 3 kilometres) that could host high grade silver
deposits as well as have potential to host large tonnage, lower grade
silver deposits. Surface work over a limited area of approximately 100
hectares and sampling of existing underground workings completed by the
Company in early 2004 provided target areas to initially test both the
high grade and larger tonnage models. Eleven reverse circulation holes,
totaling 1,108 metres with an average depth of 100 metres, were drilled
to test these initial targets. The most significant results of the drill
program are presented in the following table.



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Weighted Average
Grades
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DH Hole FROM TO INTERVAL INTERVAL Ag Ag Au
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Number (metres) (metres) (metres) (feet) gpt opt gpt
--------------------------------------------------------------------
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AP3 0.0 2.0 2.0 6.5 98.0 2.86 trace
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AP4 0.0 2.0 2.0 6.5 Trace Trace 1.38
--------------------------------------------------------------------
AP9 10.0 14.0 4.0 13.1 196.0 5.70 trace
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AP10 2.0 20.0 18.0 59.0 18.0 0.50 0.20
--------------------------------------------------------------------
AP11 0.0 10.0 10.0 32.8 31.5 0.92 0.15
--------------------------------------------------------------------


Drill hole AP9 intersected 4.0 metres of 196 grams per tonne (5.70
ounces per ton) silver and represents an intercept within the high-grade
target identified previously by surface and underground sampling.
Further drilling to define the extent of this zone will be carried out
in work programs contemplated for 2005.

Drill holes AP 1, 2, and 5 to 8 had numerous 2 to 4 metre intersections
of 6 to 20 grams per tonne silver and 0.1 to 1 grams per tonne gold that
confirm the presence of a low grade mineralized zone. This
mineralization lies within the quartz stockwork zone which previous
surface sampling returned values of 1 to 5 ounces per ton silver.
Possible surficial, supergene enrichment may account for the difference
between the drill results and surface sampling. The favorable geological
unit that hosts this extensive low grade mineralization has been
identified in other areas of the concession and will be explored to
determine if an area of higher, potentially economic silver grades can
be identified.

Surface sampling of another high-grade structure called El Pavo, located
approximately 3 kilometres west of the Silver Angel prospect but still
within the Angela de Plata Concession, returned the following channel
sampling results;



---------------------------------------------------
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Width Width Ag Ag Au
---------------------------------------------------
(metres) (feet) gpt opt gpt
---------------------------------------------------
---------------------------------------------------
1.5 4.9 129 3.76 trace
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1.0 3.2 72 2.1 0.36
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2.0 6.5 302 8.8 0.56
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2.0 6.5 804 23.4 0.17
---------------------------------------------------


Further work on El Pavo will consist of detailed mapping and sampling
with the view to defining additional drill targets. The Company is
planning follow up work on Silver Angel including further drill testing
of the defined high grade silver structure and follow up work on several
other partially defined targets within the 10,500 hectare concession.

All holes were completed by reverse circulation drilling under contract
with Dateline Drilling of Hermosillo, Mexico. Analysis of samples was
completed by ALS-Chemex Labs in Hermosillo, Mexico and North Vancouver,
British Columbia.

BLACKSTONE PROJECT, IDAHO

Three due diligence core holes (B04-1, 2 and 3), totaling 658 metres
(2,159 feet) have been completed at the Blackstone Project near Mountain
Home, Idaho. All holes intersected the Company's defined targets and
showed a large altered and sheared zone as previously interpreted. The
most significant results from drilling include several discontinuous,
low-grade silver (5 to 20 grams per tonne) and copper (100 to 700 ppm)
intercepts.

Hole B04-1 was a near-twin hole of hole S-4, drilled by previous
operators which reportedly intercepted 88metres of 3.5 ounces per ton
silver and 1.5% copper. The results of the Company's drilling and sample
analysis did not confirm this intercept. This drill program satisfies
the underlying conditions for a due diligence period that extends to
April 15, 2005. The Company will review all available data prior to the
expiry of the due diligence period to determine if further work is
warranted. Drilling was completed by Boart-Longyear from Salt Lake City,
Utah and analysis of samples was completed by ALS-Chemex Labs in Elko,
Nevada and North Vancouver, British Columbia.

The Qualified Person, as defined by National Policy 43-101, responsible
for the preparation of the technical information included in this press
release and for supervision of field activities related to the Company's
projects is N. Eric Fier, CPG, P. Eng., Qualified Person and Chief
Operating Officer of the Company.

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

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    SilverCrest Mines Inc.
    Fred Cooper
    (604) 691-1730 or Toll Free: 1-866-691-1730 (Canada & USA)
    (604) 691-1761 (FAX)
    Email: info@silvercrestmines.com
    Website: www.silvercrestmines.com
    The TSX-Venture Exchange has not reviewed and does not accept
    responsibility for the accuracy or adequacy of this release.