Vancouver, British Columbia--(Newsfile Corp. - May 12, 2017) - SilverCrest Metals (TSXV: SIL) has announced multiple intercepts
of greater than 1,000 grams per tonne silver equivalent from the Phase II drill program at the Las Chispas Property, located in
Sonora, Mexico.
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As part of the company's ongoing Phase II exploration program, systematic grid drilling of the Las Chispas Main Vein continued
to infill and expand previous Phase I results. Drill results indicate a newly discovered unmined high grade vein immediately
adjacent to the Las Chispas Main Vein and historic workings. The new vein, named "Giovanni", and the Las Chispas Main Vein are two
of 19 epithermal veins that have been defined on the property to date.
The most significant result for this release is an intercept in Hole LC17-37 of 2.3 metres grading 3.6 grams per tonne gold and
578 grams per tonne silver, or 845 grams per tonne silver equivalent, including 0.5 metres grading 1,199 grams per tonne silver
equivalent. Also noteworthy is a 2.1 metre intercept grading 3.4 grams per tonne gold and 330 grams per tonne silver, or 585 grams
per tonne silver equivalent in Hole LC17-35.
N. Eric Fier, CPG, P.Eng, President & CEO stated: "The discovery of a sub-parallel unmined high grade vein adjacent to the
Las Chispas historic underground workings is exciting, as we systematically drill several veins on the Property for mineralization
expansion and future resource estimation. The Giovanni Vein appears to be continuous over a strike length of 400 to 500 metres, 150
to 200 metres in height, and has an average drilled true thickness of 2.0 metres. The new vein is easily accessible via the
historic Las Chispas main haulage level (600 level). Closely spaced underground drilling is currently being set up to further test
the Main and Giovanni veins. As we drill our known targets, we expect to continue to intercept other "Unnamed" high grade
veins."
To date, the company has completed approximately 85% of the planned Phase II exploration program with 38 core holes having been
drilled, totalling about 8,500 metres. The majority of the Company's exploration work to date at the Property has been on the Las
Chispas Main and Giovanni Veins. More detailed work is ongoing to further expand and define mineralization to the southeast along
trend and define resources for future estimation.
Based on positive Phase I and Phase II drilling results, the company now has 4 drills on the property, 3 for surface drilling
and 1 for underground drilling, so investors can expect continuing results to be announced.
The shares are trading at $1.88 and with 48.2 million shares outstanding, the company is capitalized at $90.6 million.
For more information, please visit the company's website www.SilverCrestMetals.com, contact Fred Cooper, Investor Relations, at 604-694-1730
or 1-866-691-1730, or email info@SilverCrestMetals.com.
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