SilverCrest Closes $34.5 Million Prospectus Offering,

SilverCrest Closes $34.5 Million Prospectus Offering, Over-Allotment
Option Exercised in Full 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/30/12 --
SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL)(NYSE
MKT:SVLC)(NYSE Amex:SVLC) is pleased to announce the completion of
its underwritten prospectus offering in Canada announced on October
5, 2012 for gross proceeds of CAD$30 million, together with exercise
of the over-allotment option in full for an additional $4.5 million,
resulting in total gross proceeds of $34.5 million. 
The Company plans to use the net proceeds of the offering to pay out
and eliminate the remainder of the Company's gold hedge commitments
and for general corporate purposes. 
The Company issued a total of 13,529,750 common shares at a price of
$2.55 per share. The underwriters received a cash commission at
closing equal to 5.5% of the gross proceeds of the offering. 
The common shares have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, or the laws of any state,
and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration
requirements. This press release does not constitute an offer or sale
of securities in the United States. 
Amex:SVLC) is a Canadian precious metals producer headquartered in
Vancouver, BC. SilverCrest's flagship property is the 100%-owned
Santa Elena Mine, which is located 150 km northeast of Hermosillo,
near Banamichi in the State of Sonora, Mexico. 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. A three year expansion plan is underway to
double metals production at the Santa Elena Mine and exploration
programs are rapidly advancing the definition of a large polymetallic
deposit at the La Joya property in Durango State. 
This news release contains "forward-looking statements" within the
meaning of Canadian securities legislation and the United States
Securities Litigation Reform Act of 1995. Such forward-looking
statements concern the Company's anticipated use of proceeds of the
offering, anticipated results and developments in the Company's
operations in future periods, planned exploration and development of
its properties, plans related to its business and other matters that
may occur in the future. These statements relate to analyses and
other information that are based on expectations of future
performance, including silver and gold production and planned work
programs. Statements concerning reserves and mineral resource
estimates may also constitute forward-looking statements to the
extent that they involve estimates of the mineralization that will be
encountered if the property is developed and, in the case of mineral
reserves, such statements reflect the conclusion based on certain
assumptions that the mineral deposit can be economically exploited. 
Forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors which could cause
actual events or results to differ from those expressed or implied by
the forward-looking statements, including, without limitation: risks
related to precious and base metal price fluctuations; risks related
to fluctuations in the currency markets (particularly the Mexican
peso, Canadian dollar and United States dollar); risks related to the
inherently dangerous activity of mining, including conditions or
events beyond our control, and operating or technical difficulties in
mineral exploration, development and mining activities; uncertainty
in the Company's ability to raise financing and fund the exploration
and development of its mineral properties; uncertainty as to actual
capital costs, operating costs, production and economic returns, and
uncertainty that development activities will result in profitable
mining operations; risks related to reserves and mineral resource
figures being estimates based on interpretations and assumptions
which may result in less mineral production under actual conditions
than is currently estimated and to diminishing quantities or grades
of mineral reserves as properties are mined; risks related to
governmental regulations and obtaining necessary licenses and
permits; risks related to the business being subject to environmental
laws and regulations which may increase costs of doing business and
restrict our operations; risks related to mineral properties being
subject to prior unregistered agreements, transfers, or claims and
other defects in title; risks relating to inadequate insurance or
inability to obtain insurance; risks related to potential litigation;
risks related to the global economy; risks related to the Company's
status as a foreign private issuer in the United States; risks
related to all of the Company's properties being located in Mexico
and El Salvador, including political, economic, social and regulatory
instability; and risks related to officers and directors becoming
associated with other natural resource companies which may give rise
to conflicts of interests. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
the forward-looking statements. The Company's forward-looking
statements are based on beliefs, expectations and opinions of
management on the date the statements are made. For the reasons set
forth above, investors should not place undue reliance on
forward-looking statements. 
The information provided in this news release is not intended to be a
comprehensive review of all matters and developments concerning the
Company. It should be read in conjunction with all other disclosure
documents of the Company. The information contained herein is not a
substitute for detailed investigation or analysis. No securities
commission or regulatory authority has reviewed the accuracy or
adequacy of the information presented. 
J. Scott Drever, President 
Neither TSX Venture Exchange nor its Regulation Services Provider (as
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. 
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108 or Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
Press spacebar to pause and continue. Press esc to stop.