SilverCrest Mines Inc. – Silver Focused

Cruz de Mayo

Indicated Resources are estimated at 1.1 million tonnes grading 64.15 gpt Ag and contain 2.3 million ounces of silver based on a 30 gpt silver cut-off grade.

Inferred Resources are estimated at 6.0 million tonnes grading 66.5 gpt Ag, and contain 12.9 million ounces of silver. The gold resource estimate is still pending. The average uncut gold grade is approximately 0.1 gpt Au.

The resource statements for Cruz de Mayo are based on recent information collected by SilverCrest Mines in 2006 and 2007. The most significant components of the data are the compiled results from 50 drill holes (5,096.3 metres).

View Photos from Cruz de Mayo Project

1 Conforms to NI 43-101, 43101CP and current CIM definitions for resources. All numbers are rounded. Measured resources included in Indicated.
2 Cutoff for Cruz de Mayo is 30gpt Ag. RP= Results Pending.
3 Conversion of gold to silver based on 60:1 silver to gold ratio, Assumes 100% metal recovery.

The resource estimate for Cruz de Mayo was completed N. Eric Fier, CPG, P.Eng and reviewed by C. Stewart Wallis, P.Geo., independent qualified person (QP) from Scott Wilson Roscoe Postle and Associates of Toronto, Ontario. A Technical Report adhering to the disclosure requirements of NI 43-101 will be filed on SEDAR within 45 days of this release. Mr. Fier is the Chief Operating Officer and QP for the Company.

The Cruz de Mayo resource estimate is based on the following key assumptions; a cut-off of 30 gpt silver, silver grades exceeding 300 gpt were cut to 300 gpt based on log probability; raw data was composited to statistical relevant lengths of 2 metres; a 10 metre by 10 metre by 5 metre block size was used based on geological constraints and potential future mining method; variography and ordinary kriging was used to create both gold and silver block models; the interpolation method was Ordinary Kriging, performed in two passes: one using a search ellipsoid matching the variogram model and the second at a range of 90 x 90 x 50m. The first pass was constrained to a minimum of 2 and maximum of 12 composites per block, with a maximum of 3 allowed from any one drill hole. The second pass, carried out at the larger search distance, was allowed to estimate blocks with a minimum of 1 composite, with all other search constraints kept the same; block models were classified into Indicated Resources using blocks from the first pass with a minimum of six composites and a distance to the nearest composite of 35 metres, into Inferred Resources using all blocks estimated in the second pass plus all first pass blocks not captured in the Indicated category, and a specific gravity of 2.54 based on test work. Details of these criteria will be presented in the upcoming Technical Report.

This resource estimate represents approximately 1.5 kilometres of the approximately 2.7 kilometre known strike length of the deposit. A work program at Cruz de Mayo for further expansion of the current resource with additional drilling is planned in 2008. The deposit is potentially amenable to open pit mining and standard heap leach processing. Significant potential for resource expansion exists along of the main mineralized zone and down dip.

Silver Angel Project

The Company has a 100% interest in +18,000 hectares located in the northern Sierra Madre Range in the State of Sonora, Mexico. The Silver Angel Concession contains an area of intense alteration that is approximately 20 kilometers long by 3 kilometers wide with structural features that host seven past producing, high grade silver gold mines, including the Cruz de Mayo Prospect.