SilverCrest Exceeds 2012 Production Market Guidance, Announces Q4 Results and 2013 Guidance


2012 Operating Highlights for Santa Elena

  • Produced 579,609 ounces of silver in 2012, exceeding market guidance by 33% of original estimation of 435,000 ounces of silver.
  • Produced 33,004 ounces of gold in 2012, just below market guidance of 33,500 ounces.
  • Produced 2.37 million ounces of silver equivalent using a Ag:Au average ratio of 54.3:1.
  • In Q4 surpassed "One Million Ounces of Silver" produced project to date plus a quarterly record of 153,863 ounces silver.
  • Crusher throughput averaged 3,162 tonnes per day, 26% above the daily designed capacity of 2,500 tonnes per day.
  • Completed Phase II leach pad construction on schedule and on budget adding 2 years of capacity.
  • Installed new conveyor and stacker system for ore transport to the leach pad reducing operating costs.
  • Secured major long lead time items for construction of a new conventional 3,000 tpd CCD processing facility during 2013.
  • Underground decline development progressed to approximately 1,050 metres in length.
  • Completion of approximately 30,000 metres of drilling which;
    • 1) confirmed and detailed underground resources to be converted to reserves,
    • 2) discovered the new high grade "El Cholugo" gold and silver zone adjacent to the Main Mineralized Zone currently being mined and
    • 3) extended the Main Mineralized Zone more than 200 metres along strike and down plunge.