SilverCrest Mines Inc.
TSX VENTURE : SVL

SilverCrest Mines Inc.

January 20, 2006 12:12 ET

SilverCrest Commences Drill Program; Santa Elena Silver-Gold Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 20, 2006) - SilverCrest Mines Inc. ("the "Company") (TSX VENTURE:SVL) is pleased to announce that it has begun drilling the first of 20 drill holes in an initial stage drill program on the Santa Elena silver-gold property 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 Santa Elena property by making staged option payments over a period of 5 years.

The Company's objective for this initial program is to expand the silver and gold historical resource by increasing the strike length and depth of the known mineralization in the Main Zone and developing resources in the untested, silver footwall zone (see attached cross section). It is expected that this drill program will serve to confirm the grade and extent of the silver and gold mineralization in the historical mine area and provide a basis for the calculation of a NI 43-101 compliant resource. Subsequent to the completion of the initial drilling, a Phase II program is anticipated to further delineate the mineralization along strike and to depth.

The historical unclassified resource at Santa Elena has been estimated at approximately 1 million tonnes grading 102 gpt (3.0 opt) silver and 3.5 gpt (0.102 opt) gold within the Main Gold Zone. This resource contains an estimated 3.3 million ounces of silver and 112,288 ounces of gold. The resource was estimated by a geologist employed by the vendor of the property prior to 1990 and is based on channel sampling of accessible workings along a strike length of 400 metres (half the length of the mineralized surface exposure) and to a depth of 100 metres. No recent exploration drilling has been completed on the project. The above resource is considered historic in nature, does not comply with NI 43-101 standards, has not been verified by the Company and therefore should not be relied upon.

The recent discovery of silver mineralization in the footwall of the Main Gold Zone shows significant potential with true widths up to 18.5 metres grading 316 gpt (9.2 opt) silver and 0.4 gpt (0.01 opt) gold. Professional geologists, including Company qualified personnel, have recently completed extensive mapping and sampling for both surface exposures and underground workings. A total of 76 channel samples show ranges of values from trace to 603 gpt (17.5 opt) silver and trace to 78.3 gpt (2.28 opt) gold. A weighted average for these composites is 3.45 gpt (0.10 opt) gold and 69 gpt (2.0 opt) silver over an average true width of approximately 10 metres (32.8 feet) excluding the Silver Footwall Zone, which appears to be 5 to 20 metres wide. Currently, mineralization to a depth of approximately 100 metres is considered potentially open-pittable.

Analysis for all samples was completed by ALS-Chemex in Hermosillo, Mexico and North Vancouver, BC. The Qualified Person for this news release is N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc.

The option of the Santa Elena Project dramatically expands the Company's presence in Mexico and provides an advanced stage project that has the potential to add substantial low cost silver and gold resources. The concession is strategically located near the Company's 18,000 hectare Silver Angel Concessions where several silver exploration targets have been defined and are being prepared for drilling. The Santa Elena acquisition is in keeping with the Company's goal of becoming a significant silver asset based company by acquiring high grade, low cost silver/gold resources that may be expanded and properties that also have substantial exploration potential.

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.

SilverCrest Mines Inc.

J. Scott Drever, President

To view the attached map, please click on the following link: http://www.ccnmatthews.com/docs/SantaElena.jpg


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