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Press Release Source: Standard & Poor’s
OnTuesday September 27, 2011, 9:31 am EDT
NEW YORK--(BUSINESS WIRE)--Standard & Poor’s announced today that it has commenced FactualStock Report coverage on SilverCrest Mines Inc.
SilverCrest Mines Inc. (TXV:SVL) isa precious metals producer operating in Mexico with headquarters based inVancouver, British Columbia. SilverCrest's flagship property is the 100%-ownedSanta Elena Mine, which is located 150 kilometers northeast of Hermosillo, nearBanamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermalgold and silver producer. SilverCrest anticipates that the 2,500-tonne-per-dayfacility should recover approximately 4,805,000 ounces of silver and 179,000ounces of gold over the 6.5-year life of the open pit phase of the Santa ElenaMine.
During the three-month period endedJune 30, 2011, 74,678 ounces of silver and 5,476 ounces of gold were producedas dore, with a significant amount of silver and gold still in solution forprocessing and recovery as of late August 2011. SilverCrest sold 70,326 ouncesof silver and 4,300 ounces of gold. The company delivered 860 ounces of goldunder its gold stream contract with Sandstorm, and delivered 3,440 ounces underthe gold price protection program with Macquarie Bank. On July 13, 2011,SilverCrest reported that it had achieved commercial production at its100%-owned Santa Elena Mine.
The company further reported thatduring 2011, which will be a partial year at full production rates, and basedon the current life of mine plan, the mine was expected to produceapproximately 430,000 ounces of silver and 26,000 ounces of gold. The firstfull year of production will be 2012 during which the mine was expected toproduce 478,000 ounces of silver and 32,000 ounces of gold. From 2013 through2016, a significant increase in recovered silver ounces was expected, liftingsilver production to an estimated 750,000 to 1.1 million ounces per year,according to the company.
The company's other mineralproperties include the Cruz de Mayo Project (Mexico), the La Joya Property(Mexico), the Silver Angel Project (Mexico) and the El Zapote Project (ElSalvador). The Cruz de Mayo Project consists of two mineral concessionscomprising a total of 452 hectares, containing approximately 15 million ouncesof silver with minor gold.
S&PFactual Stock Report coverage on SilverCrest Mines Inc will also beaccessible on an ongoing basis to the investment community by scores ofbuy-side institutions and sell-side firms that utilize S&P research andinformation platforms daily. Millions of self-directed investors also haveaccess to the report via their e-brokerage accounts. Please visit www.silvercrestmines.comfor additional information.
About Standard & Poor'sFactual Stock Reports
This Standard & Poor’s serviceprovides factual research coverage enabling information about SilverCrestMines Inc and other securities to reach a wide investor audience of Buy andSell-side investors, helping them understand a company’s fundamentals and businessprospects. Currently profiling over 500 issuers, S&P Factual Stock Reportsincrease market awareness for issuers in the investment community withinsightful commentary and key statistics/information. Updated weekly with thelatest pricing, trading volume, and other data, the reports include recentdevelopments, a financial review, key operating information, Industry and peercomparisons, institutional holdings analysis, Street Consensus and opinions,performance charts, business summary, fundamental data, and news. Becausecoverage of these reports is sponsored by the issuer, S&P does not offerinvestment opinions concerning the advisability of investing in these stocks.
Standard & Poor’s Factual StockReports are produced separately from any other analytic activity of Standard& Poor’s. Standard & Poor’s Factual Report research has no access tonon-public information received by other units of Standard & Poor’s.Standard & Poor’s does not trade on its own account.
Note:All U.S. andCanadian Companies listed on a National Exchange (not covered by S&P’sSTARS research) are eligible to obtain this coverage.