Silvercrest to finish Elena mill commissioning by Aug.

2014-06-18 09:32 ET - News Release

Mr. Eric Fier reports

SILVERCREST PROVIDES UPDATE OF SANTA ELENA TRANSITION

SilverCrest Mines Inc. is providing an update on the commissioning of the new 3,000-tonne-per-day milling facility and processing plant, and progress of underground development at its 100-per-cent-owned Santa Elena mine in Sonora, Mexico. The commissioning of the new mill commenced May 1, 2014, and it is projected that continuous nameplate production of 3,000 tpd will be achieved by the start of August. Underground development continues with over 4,500 metres completed to date on ramping, ventilation and ore development. For additional information, and to view photos and videos of the mill, the processing plant and the mine site, please visit the company's website.

Eric Fier, president and chief operating officer, stated: "The mill start-up in May was a significant milestone in the development and responsible growth of the company. We are confident that our projected early August completion of commissioning of the mill and ancillary facilities will be on schedule. The commissioning effort continues to be supported by highly experienced field engineers from FLSmidth & Co., who supplied most of the major process plant equipment. The company is nearing the completion of its three-year, $100-million expansion plan, which is expected to be completed on budget and with minimal delay. The capital expenditure budget for 2014 is $26-million with $7.5-million remaining to be spent mostly for underground equipment and development. The remaining capital expenditures are expected to be completed in early third quarter 2014, which will allow free cash flow from operations to be generated for the balance of 2014."

Santa Elena mine update:

The qualified person under National Instrument for this news release is Eric Fier, CPG, PEng, president and chief operating officer for SilverCrest Mines, who has reviewed and approved its contents.