SilverCrest Mines Inc.
TSX VENTURE : SVL
FRANKFURT : CW5

SilverCrest Mines Inc.

March 08, 2007 06:00 ET

SilverCrest Completes Second Phase Drill Program at Cruz de Mayo, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2007) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL)(FRANKFURT:CW5) is pleased to announce it has completed a 27 reverse circulation (RC) drill hole program totaling 2907 metres at its Cruz de Mayo prospect in Northern Mexico. This constitutes nearly double the number of holes and metres initially contemplated. The Cruz de Mayo prospect is located approximately 180 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company has the rights to acquire 100% interest in the prospect.

The Phase II drill program (to view the drill hole plan map accompanying this release please click on the following link: http://www.ccnmatthews.com/docs/CruzDeMayoPhaseII-March071.jpg) was designed to re-confirm the widths and grades of the silver mineralized zone previously encountered in the first phase core drill program (please see Press Release dated October 26, 2006) as well as to test the overall dimensions of the zone along strike and down dip. The planned Phase II program was substantially increased based on the continued intersection of mineralized zone and the need to adequately test the resource target area for the purpose of completing a resource model.

The information derived from the two phases of drilling will provide the basis for a NI 43-101 resource estimate. The Technical Report required to support the contemplated resource estimate will be commenced as soon as all assay results from the most recent drilling are received. The Company has submitted approximately 2,000 samples from Cruz de Mayo to ALS-Chemex in Hermosillo, Mexico and North Vancouver, Canada for analyses, for which the turnaround is expected to be 3-6 weeks. Results from the first four RC holes are presented in the tables below.

The oxidized stockwork zone that contains the silver mineralization has been delineated over a minimum strike length of 800 metres and 200 metres down dip. The zone ranges in thickness from 20 to 45 metres in the southeast to 40 to 60 metres in the central and northwest portion of the deposit. Within the much broader zone of lower grade silver mineralization is a narrower higher grade zone that is 3.0 to 10.5 metres thick which appears to grade between 106.2 g/t (3.1 oz/t) to 393 g/t (11.4 oz/t) silver. The favorable host for stockwork silver mineralization is a ryholite bed which dips at about 25 degrees to the southwest nearly parallel to the slope of the topography. This "dip slope" makes for potentially low strip ratios for the deposit. The deposit remains open to the north with an additional 1.7 kilometres of strike length that requires further testing.

The following tables show the correlation of the first 4 RC holes and previous core drill results for both the low and higher grade zones in the southeast area that hosts the original historical resource. The close correlation of the widths and grades is encouraging in that it confirms the original lost core results and that in this area, silver values begin near the surface.

Twinned Holes - RC Results vs. Core Results - 4 Acid Digest - Low Grade Zone



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RC Twin Core
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Hole From To Interval Ag Hole From To Interval Ag
Number (m) (m) (m) g/t Number (m) (m) (m) g/t
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CM-RC07-24 7.5 33.0 25.5 20.8 CM06-09 7.32 32.67 25.35 19.9
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CM-RC07-25 3.0 48.0 45.0 42.8 CM06-06 4.57 40.84 36.27 37.1
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CM-RC07-26 4.5 28.5 24.0 44.0 CM06-07 3.67 22.55 18.88 73.9
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CM-RC07-27 9.0 28.5 19.5 18.1 CM06-05 9.98 26.53 16.55 37.4
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The most significant higher grade drill intercept reported to date is 8.75 metres (28.7 feet) grading 343 gpt (10 opt) silver in hole CM-02, drilled late in 2005. This hole confirmed that the higher grade zone extends beyond the limits of the mineralization in the historical resource area. A zone of higher grade has been confirmed in the initial RC holes and the narrower intervals of higher grades are shown below for comparison purposes. Confirmation of the potential extension of the lower grade zone away from the historical resource area is pending assay results.

Twinned Holes - RC Results vs Core Results - 4 Acid Digest - Higher Grade Zone



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RC Twin Core
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Hole From To Interval Ag Hole From To Interval Ag
Number (m) (m) (m) g/t Number (m) (m) (m) g/t
---------------------------------------------------------------------------
CM-RC07-24 25.5 33.0 7.5 29.2 CM06-09 25.6 32.6 7.0 23.0
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CM-RC07-25 30.0 40.5 10.5 106.4 CM06-06 27.1 40.8 13.8 61.6
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CM-RC07-26 15.0 25.5 10.5 77.5 CM06-07 14.8 25.6 10.8 124.3
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CM-RC07-27 9.0 13.5 4.5 16.33 CM06-05 10.0 13.4 3.4 93.6
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The low silver grades in drill hole CM-06-09 may be attributed to the hole being located outside the main mineralized zone or a low grade area within the zone. Lower silver grades in CM-RC07-27 compared to core hole CM06-05 may be associated with variability in mineralization within the zone.

All analyses were completed by ALS-Chemex in Hermosillo, Mexico and North Vancouver, BC.

J. Scott Drever, President, stated; "We are very encouraged by the initial results from the second phase drilling at Cruz de Mayo. We are seeing a substantial increase in the thickness and width of the mineralized zone as we move from southeast to northwest within the 800 metre strike length which we are focused upon for our initial resource estimate. Equally important is that some widely spaced, step out holes have shown that the mineralized zone and silver values continue for more than a kilometre to the northwest of our current resource target area. Our better understanding of the geology has enabled us to identify additional potential targets that warrant follow-up exploration. We are beginning to view Cruz de Mayo as being potentially a large tonnage, low grade silver deposit. We are anxious to see the analytical results from the RC samples and in the meantime we are pressing forward with the geological modeling and bottle roll test work to test the leachability of the mineralization."

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 "pure silver" exploration and development company with a portfolio of high grade silver deposits and exploration properties located in El Salvador and Mexico. 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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