Vancouver, British Columbia--(Newsfile Corp. - December 10, 2018) - SilverCrest Metals
Inc. (TSXV: SIL) (NYSE
American: SILV) ("SilverCrest" or the "Company") is pleased to
announce that it has closed its private placement with SSR Mining Inc. ("SSRM") previously announced on November 29,
2018.
SSRM purchased 8,220,645 common shares of the Company at a price of C$3.73 per share for a total investment of C$30,663,006 in a
non-brokered private placement financing. The common shares issued pursuant to the private placement have a statutory hold period
of four months and one day expiring April 8, 2019. The private placement remains subject to final approval of the TSX Venture
Exchange.
SilverCrest is also pleased to announce that it has received proceeds of C$7,375,755 as a result of the exercise of 2,458,585
previously issued common share purchase warrants (the "Warrants"). Each Warrant was exercisable for one common share at a price of
C$3.00. One-half Warrant was issued with each common share in the Company's bought deal financing completed on December 6, 2016,
and expired on December 6, 2018.
With the warrant exercise and the closing of the private placement with SSRM, SilverCrest has C$46 million of cash and is in a
robust financial position to advance the Las Chispas Project in Sonora, Mexico.
The Company expects to be fully funded to complete the following work on the Las Chispas Project in 2019: 1) a resource update
in Q1, 2019, 2) completion of a Preliminary Economic Assessment ("PEA") in Q1, 2019, 3) the construction of an exploration decline
and drifting into the high-grade Area 51 zone of the Babicanora Vein, 4) an aggressive infill and expansion drilling program to
upgrade and potentially increase the high-grade precious metal resource, and 5) with a positive PEA, a Pre-Feasibility Study by the
end of 2019.
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new
discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company's current
focus is on the high-grade, historic Las Chispas mining district in Sonora, Mexico. SilverCrest is the first company to
successfully drill-test the historic Las Chispas Project resulting in numerous discoveries. The Company is led by a proven
management team in all aspects of the precious metals mining sector, including taking projects through discovery, finance, on time
and on budget construction, and production.
FORWARD‐LOOKING STATEMENTS
This news release contains "forward‐looking statements" within the meaning of Canadian securities legislation.
Such forward‐looking statements concern the
intended use of proceeds. Such forward‐looking
statements or information are based on a number of
assumptions, which may prove to be
incorrect. Assumptions have been made
regarding, among other things: conditions in general
economic and financial markets; timing and amount of
capital expenditures; and effects of regulation by governmental
agencies. The actual results could differ
materially from those anticipated
in these forward looking statements as a result
of the risk factors including: the timing
and content of work programs;
results of exploration
activities of mineral
properties; the interpretation of
drilling results and other geological data; and
general market and industry conditions. Forward‐looking statements are based on the
expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the
preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such,
readers are cautioned not to place undue reliance on these forward‐looking statements, which speak only as of the date the
statements were made. The Company undertakes no obligation to update or revise any forward‐looking statements included in this news
release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable
law.
N. Eric Fier, CPG, P.Eng
Chief Executive Officer
SilverCrest Metals Inc.
For Further Information:
SilverCrest Metals Inc.
Contact: Michael Rapsch, VP Corp. Communications
Telephone: +1 (604) 694-1730
Fax: +1 (604) 357-1313
Toll Free: 1-866-691-1730 (Canada & USA)
Email: info@silvercrestmetals.com
Website: www.silvercrestmetals.com
570 Granville Street, Suite 501
Vancouver, British Columbia V6C 3P1
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
.
