SilverCrest Mines Inc.
TSX VENTURE : SVL

SilverCrest Mines Inc.

August 02, 2011 14:34 ET

SilverCrest Mines Announces Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 2, 2011) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL) announces the grant of stock options to directors, officers and employees to purchase an aggregate of 1,500,000 common shares of the Company at an exercise price of $1.65 per share for a term of 5 years. One quarter of these options vest on the date of grant and a further one-quarter will vest every six months thereafter.

SilverCrest Mines Inc. (TSX VENTURE:SVL) is a Mexican precious metals producer with headquarters based in Vancouver, BC. SilverCrest's flagship property is the 100%-owned Santa Elena Mine, which is located 150km northeast of Hermosillo, near Banamichi in the State of Sonora, México. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine.

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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