SilverCrest Mines Inc.
TSX VENTURE : SVL

SilverCrest Mines Inc.

December 04, 2006 21:09 ET

SilverCrest Files Technical Report for Santa Elena Project, Mexico

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL) is pleased to announce it filed, November 29, 2006, the required NI 43-101 Technical Report on SEDAR (www.sedar.com) in support of the resources estimates for the Santa Elena Property that were announced on October 16, 2006. The Santa Elena Property is located in Sonora State, Mexico and the Company has an option to acquire a 100% interest in the property by making staged option payments over a five year period.

The report gives a full description of the technical aspects of the property and provides considerable detail as to the methodology for the calculation of the reported resources. These resources are a result of a phase I drilling and sampling program and were more than double the Company's preliminary target of 15 million ounces of silver and silver equivalent. It is expected that the planned phase II drilling and sampling program will add to the total resource and improve the confidence level of the current resource numbers.

The Company now has reported resources at Santa Elena in Mexico and at its El Zapote property in El Salvador. The addition of the Santa Elena resource increases the Company's total Indicated Resources of silver and silver equivalent to 26.5 million ounces, representing an increase of 124%. Total Inferred Resources of silver and silver equivalent now are estimated to be 22.3 million ounces, representing an increase of 464%. Silver equivalency is based on a silver to gold ratio of 60:1 and assumed 100% recovery. The El Zapote property also includes significant resources of zinc with Indicated Resources of 49.7 million contained pounds of zinc and Inferred Resources of 29.2 million contained pounds of zinc (see press releases dated September 13, 2005 and May 4, 2005 for details of the El Zapote resources).

SilverCrest Resource Summary

To view Resource Summary table please click on the following link: http://www.ccnmatthews.com/docs/SVL1204.jpg

C. Stewart Wallis, P.Geo. independent qualified person (QP) from the consulting firm of Scott Wilson Roscoe Postle Associates Inc. and N. Eric Fier, CPG, P.Eng, QP and Chief Operating Officer of the Company completed the Santa Elena resource estimation and prepared the NI 43-101 Technical Report. There have been no previous resources reported for Santa Elena.

The Company plans a second phase drilling and sampling program at Santa Elena for further verification and expansion of the current resource. The additional drilling and underground sampling, commencement of environmental baseline studies, and metallurgical test work to determine leaching characteristics will be undertaken in the fourth quarter of 2006 to support a scoping study. The Company believes that the deposit is potentially amenable to open pit mining and standard heap leach processing. Significant potential for resource expansion exists along the eastern strike of the main mineralized zone and the footwall of the main mineralized zone where surface sampling has indicted substantial silver and gold mineralization (see News Release dated September 11, 2006).

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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