SVL funding.

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Acquisition & Production of high grade, low cost Silver resources - Mexico & El Salvador

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Scruffy

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SVL funding.

posted on Mar 13, 2009 05:57AM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2009) - SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL - News) is pleased to announce that it has entered into a letter of intent with Sandstorm Resources Ltd. (Sandstorm) whereby Sandstorm will provide US$12 million in development financing ("up front payment") by acquiring 20% of the future life of mine gold production from SilverCrest's Santa Elena project (the "Santa Elena Project") located in Mexico and, at SilverCrest's option, debt financing of up to $US6 million. The capital to bring the Santa Elena Project into production is estimated at US$20 million.