SilverCrest Announces Updated La Joya Resources

SilverCrest Announces Updated La Joya Resources 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 --
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    198.6 million ounces Ag Eq    
  (Ag Eq(i),Global Case):                                                   
- 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   100.8 million ounces of Ag Eq 
  Case);                                                                    
- 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(i) 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. 
These resources have been independently estimated by EBA Engineering
Consultants Ltd., a Tetra Tech Company utilizing Company Phase I and
Phase II drill results and surface sampling programs along with
independently-validated historic data. Drilling to date has been
relatively widespread in the Main Mineralized Trend (MMT) as well as
the independent deposits of Coloradito and Santo Nino. The MMT which
includes the Phase I and II drilling areas, has a length of 2.5
kilometres and an average minimum width of over 700 metres (see
attached Figures -
http://media3.marketwire.com/docs/svl129_F1-2.pdf). 
The La Joya resource models separate the deposits into two broad
categories based on the predominant mineralogy. The first category is
comprised of silver, gold and copper mineralization (AgCu Rich Zone),
with lesser amounts of tungsten (WO3), molybdenum (Mo), lead (Pb),
and Zinc (Zn). The second category is predominantly tungsten and
molybdenum mineralization (Contact Zone) with lesser amounts of Ag,
Cu, Au, Pb, and Zn. The mineralogy of these categories is often
gradational and overprinted in some areas. The AgCu Rich Zone
generally lies spacially above the Contact Zone and generally follows
the contours of the underlying intrusive, which outcrops in several
areas. The summaries of the resource estimates below show the
resources attributed to each of these mineralization categories for
each of the current deposits, specifically, the MMT, Santo Nino, and
Coloradito. 


 
AgCu Rich Zone Resource Summary                                             
----------------------------------------------------------------------------
          Ag Eq(i)   Resource                                               
           Cut-off   Category       Tonnage         Ag         Au         Cu
ZONE           gpt        (i)         (000)        gpt        gpt          %
----------------------------------------------------------------------------
MMT             15   Inferred       120,600       23.7       0.18       0.18
----------------------------------------------------------------------------
                30   Inferred        67,600       34.7       0.23       0.25
----------------------------------------------------------------------------
                60   Inferred        26,100       58.5       0.30       0.42
----------------------------------------------------------------------------
Santo Nino      15   Inferred         6,200       20.4       0.04       0.49
----------------------------------------------------------------------------
                30   Inferred         3,600       29.2       0.04       0.75
----------------------------------------------------------------------------
                60   Inferred         1,800       43.1       0.05       1.20
----------------------------------------------------------------------------
Total           15   Inferred       126,700       23.5       0.17       0.19
----------------------------------------------------------------------------
                30   Inferred        71,200       34.4       0.22       0.28
----------------------------------------------------------------------------
                60   Inferred        27,900       57.5       0.28       0.48
----------------------------------------------------------------------------
 
AgCu Rich Zone Resource Summary                                             
----------------------------------------------------------------------------
          Ag Eq(i)   Resource                                               
           Cut-off   Category    Ag Eq    Ag Oz    Au oz    Cu lbs  Ag Eq(i)
ZONE           gpt        (i)      gpt    (000)    (000)     (000)  Oz (000)
----------------------------------------------------------------------------
MMT             15   Inferred     47.9   91,900    707.9   466,500   185,800
----------------------------------------------------------------------------
                30   Inferred     68.4   75,400    519.4   377,400   148,700
----------------------------------------------------------------------------
                60   Inferred    109.6   49,100    255.8   240,100    92,000
----------------------------------------------------------------------------
Santo Nino      15   Inferred     64.7    4,000      8.2    66,800    12,800
----------------------------------------------------------------------------
                30   Inferred     96.1    3,400      5.3    59,400    11,100
----------------------------------------------------------------------------
                60   Inferred    149.2    2,500      2.9    48,300     8,700
----------------------------------------------------------------------------
Total           15   Inferred     48.7   95,900    716.2   533,200   198,600
----------------------------------------------------------------------------
                30   Inferred     69.8   78,700    524.8   436,800   159,800
----------------------------------------------------------------------------
                60   Inferred    112.2   51,600    258.8   288,400   100,800
----------------------------------------------------------------------------
                                                                            
(i) Silver equivalency includes silver, gold and copper and excludes lead,  
 zinc, molybdenum and tungsten values. Ag:Au is 50:1, Ag:Cu is 86:1, based  
 on 5 year historic metal price trends of US$24/oz silver, US$1200/oz gold, 
 US$3/lb copper. 100% metallurgical recovery is incorporated until further  
 information is available.                                                  
(ii)Classified by EBA, A Tetra Tech Company and conforms to NI 43-101, 43-  
 101CP, and CIM definitions for resources. All numbers are rounded. Inferred
 Resources have been estimated from geological evidence and limited sampling
 and must be treated with a lower level of confidence than Measured and     
 Indicated Resources. Mineralization boundaries used in the interpretation  
 of the geologica
l model and resource estimate are based on a cutoff grade  
 of 15 gpt Ag Eq using the metal price ratios described above.              
                                                                            
Contact Zone Resource Summary                                               
----------------------------------------------------------------------------
               WO3   Resource                                               
            (%)(i)   Category   Tonnage      WO3       Mo   WO3 lbs   Mo lbs
ZONE       cut-off       (ii)    (,000)        %        %    (,000)   (,000)
----------------------------------------------------------------------------
MMT          0.025   Inferred    60,500    0.053    0.003    70,500    4,200
----------------------------------------------------------------------------
             0.050   Inferred    25,100    0.075    0.004    41,400    1,900
----------------------------------------------------------------------------
             0.095   Inferred     4,400    0.109    0.002    10,600      200
----------------------------------------------------------------------------
Santo Nino   0.025   Inferred     5,200    0.040    0.008     4,600      800
----------------------------------------------------------------------------
             0.050   Inferred       900    0.070    0.013     1,500      300
----------------------------------------------------------------------------
             0.095   Inferred     0.750    0.101    0.011         2     0.17
----------------------------------------------------------------------------
Coloradito   0.025   Inferred    31,900    0.062    0.028    43,300   18,000
----------------------------------------------------------------------------
             0.050   Inferred    18,500    0.079    0.032    32,300   11,900
----------------------------------------------------------------------------
             0.095   Inferred     4,200    0.112    0.034    10,300    2,800
----------------------------------------------------------------------------
Total        0.025   Inferred    97,600    0.055    0.012   118,400   23,100
----------------------------------------------------------------------------
             0.050   Inferred    44,600    0.076    0.016    75,100   14,100
----------------------------------------------------------------------------
             0.095   Inferred     8,600    0.111    0.018    20,900    3,000
----------------------------------------------------------------------------
                                                                            
(i) WO3 is based on a standard calculation of tungsten (W) times 1.26. 100% 
 metallurgical recovery is incorporated until further information is        
 available.                                                                 
                                                                            
(ii) Classified by EBA, A Tetra Tech Company and conforms to NI 43-101, 43- 
 101CP, and CIM definitions for resources. All numbers are rounded. Inferred
 Resources have been estimated from geological evidence and limited sampling
 and must be treated with a lower level of confidence than Measured and     
 Indicated Resources. Mineralization boundaries used in the interpretation  
 of the geological model and resource estimate are based on a cutoff grade  
 of 200 ppm W.                                                              

 
Much of the Contact Zone resource is considered to be near-surface
and potentially amenable to conventional open pit mining. This zone
also contains gold, silver, copper and tin (as defined by
geochemistry) which may add secondary value as a result of increased
metal content.  
These resource estimates are based on recent and historical
information collected by SilverCrest Mines and previous operators
(Luismin/Goldcorp) from 1979 to present. Phase II Company drilling
comprising 78 holes (25,812.65 metres), the 26 holes Phase I Company
drilling (5,753.70 metres) in addition to 18 validated historic
drillholes (5,907.26 metres) were included in the geological database
used as source data for the estimation. Drill hole spacing for the
122 holes (37,473.61 metres) used in the resource estimation is
approximately 75 metres.  
Based on available data and computer modeling, the current dominant
mineralization at La Joya is hosted within numerous sub-vertical,
near east-west striking structurally-controlled stockwork zones.
These zones are considered to be semi-continuous along strike with
true widths ranging from 15 to 50 metres using a cutoff grade of 15
gpt Ag Eq. Eight near-horizontal mantos (semi-continuous disseminated
stratabound sulphides) have been modeled within the resource area,
which are cross-cut by the stockwork zones and considered the second
dominant mineralization. The La Joya deposits are currently
interpreted to host three related styles of mineralization. Please
refer to News Release dated October 17, 2011 for defined types of
mineralization at La Joya. 
Initial metallurgical test work as reported in the first Technical
Report on the property dated February 20, 2012 suggests that the La
Joya deposit may be amenable to conventional flotation processes for
copper concentrating with high grade silver and gold components.
Significant metallurgical test work is being completed by an
independent qualified lab to confirm flotation amenability and fully
determine recoveries. The nearby Sabinas Mine (Penoles), which is
considered to be a similar deposit style to La Joya, has been in
production for many years and is currently producing at an estimated
rate of 4,000 tonnes/day and shipping flotation concentrate overseas. 
The La Joya Inferred Mineral Resource Estimate was completed using
Gemcom GEMS modeling software and is compliant with National
Instrument 43-101 and conforms to guidelines and definitions
established by the Canadian Institute of Mining and Metallurgy. The
resource is based on verified information from historical and recent
company sources. The Mineral Resources include block models for the
Main Mineralized Trend and Santo Nino located within Cerro
Sacrificio, and for Cerro Coloradito. Solid boundaries for the
mineralization were interpreted using a minimum 15 Ag Eq cut-off from
drill holes composites. Raw assay data was composited to 2 metres and
was interpolated into a 5 metre x 5 metre x 5 metre block size model
using inverse distance squared methodology with multiple mineralized
domains and search ellipses. The search ellipse ranges were based on
geological field observation, geostatistical analysis and iterative
interpolation. Grade caps of 550 gpt Ag, 5.5 gpt Au and 6.0 % Cu were
determined from histogram analysis and applied after compositing.
Grade interpolation within stratabound manto mineralization utilized
an anisotropic search ellipse oriented along the interpreted trend of
bedding with major and semi-major axis ranges of 75 metres and a
minor axis range of 40 metres. Where manto grades exceeded 120 gpt
Ag, 1 gpt Au, or 1% Cu, the search ellipse was limited to major and
semi-major axis ranges of 40 metres, and a minor axis range of 20
metres. Grade interpolation within sub-vertical
structurally-controlled stockwork zones utilized an anisotropic
ellipse oriented along the interpreted zones with major and
semi-major axis ranges of 80 metres and a mino
r axis range of 30
metres. A minimum of 2 composites, to a maximum of 15, were required
to interpolate block grades with no more than 3 composites reporting
from any one drill hole in manto mineralization, or no more than 3
composites reporting from any one drill hole in the stockwork zones.
Based on limited laboratory and in situ testing, a value of 3 was
applied as a specific gravity for all materials in the model. Using
the definitions in the CIM Definition Standards for Mineral Resources
and Mineral Reserves, all Mineral Resources have been classified as
being Inferred based on the number of samples used for estimation
relative to the deposit area and the overall confidence in
interpretation from the widely spaced drill holes for this style of
deposit. Inferred Resources should not be used as the basis for
evaluation of economic viability of the project. Details of these
criteria will be presented in the Technical Report to be filed on
SEDAR. 
The independent Qualified Persons for the La Joya resource estimation
who have reviewed and approved the contents of this news release are
James Barr., P.Geo., and Lara Reggin, P.Geo. both from the consulting
firm of EBA Engineering Consultants Ltd., a Tetra Tech Company and
Ting Lu, P.Eng. (for Metallurgy) from Wardrop Engineering, a Tetra
Tech Company. A Technical Report currently being prepared by the
Qualified Persons and will adhere to the disclosure requirements of
NI 43-101 and will be filed no later than 45 days from the date of
this release.  
SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) is a Canadian
precious metals producer headquartered in Vancouver, BC.
SilverCrest's flagship property is the 100%-owned Santa Elena Mine,
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 at 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.  
FORWARD-LOOKING STATEMENTS  
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 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       
SILVERCREST MINES INC. 
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. 
Contacts:
SilverCrest Mines Inc.
Fred Cooper
(604) 694-1730 ext. 108 or Toll Free: 1-866-691-1730
(604) 694-1761 (FAX)
info@silvercrestmines.com
www.silvercrestmines.com
 
 
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