ilverCrest Announces Updated La Joya Resources


Symbol Price Change
SVL.V 2.46 -0.05

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 29, 2013) - SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC)(NYSE Amex:SVLC) ("SilverCrest" or the "Company") is pleased to announce an updated resource estimation for the La Joya Property in Durango, Mexico. The updated Inferred Resources are summarized as (refer to tables below for details);

Cutoff grade of 15 gpt silver equivalent (Ag Eq*,Global Case):   198.6 million ounces Ag Eq
Cutoff grade of 30 gpt Ag Eq (Base Case);   159.8 million ounces Ag Eq
Cut-off grade of 60 gpt Ag Eq (High Grade Case);   100.8 million ounces of Ag Eq
Cut-off grade of 0.05% WO3;   75.1 million pounds (35,700 tonnes) of tungsten

The Company believes that the 60 gpt Ag Eq portion of the deposit with an estimated tonnage of 27.9 million tonnes grading 112 grams per tonne Ag Eq* constitutes a priority area to be examined as a potential "Starter Pit" for initial conceptual operations that will be examined in the Preliminary Economic Assessment (PEA) to be commenced shortly. The La Joya Property has excellent potential for additional resources with the deposits being open in most directions. Further infill and expansion drilling is recommended to increase and convert resources from Inferred to Indicated.