SilverCrest Mines Inc.

SilverCrest Mines Inc.

April 24, 2009 15:34 ET

SilverCrest Updates Sandstorm Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2009) - SilverCrest Mines Inc. (TSX VENTURE:SVL) (the "Company") is pleased to advise that Sandstorm Resources Ltd. ("Sandstorm") has announced completion of a $46.8 million equity financing which will be used in part to fund the gold purchase transaction with the Company previously announced on April 16 and March 12, 2009. "This represents a major step forward in completion of the gold purchase transaction with Sandstorm," stated J. Scott Drever, President of the Company.

The Sandstorm gold purchase transaction with the Company is anticipated to complete on or about May 15, 2009. Completion of the transaction remains subject to execution of definitive agreements and receipt of all necessary regulatory and other approvals.

Sandstorm's President and Chief Executive Officer, Nolan Watson and one of its Directors, David Awram are formerly executive officers of Silver Wheaton Corp., a mining company listed on both the Toronto and New York stock exchanges. Through Silver Wheaton, Messrs. Watson and Awram were involved in the successful execution and financing of approximately US$1 billion worth of metal streaming transactions over the past five years.

SilverCrest Mines Inc. is a "Silver Focused" exploration and development company with a portfolio of high grade silver and gold deposits and exploration properties located in Mexico and El Salvador. 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.

J. Scott Drever, President


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.

Contact Information