Updates Sandstorm Financing

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

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Updates Sandstorm Financing

posted on Apr 24, 2009 11:42AM

April 24, 2009

SilverCrest Updates Sandstorm Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2009) - SilverCrest Mines Inc. (TSX VENTURE:SVL) (the "Company") is pleased to advise that Sandstorm Resources Ltd. ("Sandstorm") has announced completion of a $46.8 million equity financing which will be used in part to fund the gold purchase transaction with the Company previously announced on April 16 and March 12, 2009. "This represents a major step forward in completion of the gold purchase transaction with Sandstorm," stated J. Scott Drever, President of the Company.

The Sandstorm gold purchase transaction with the Company is anticipated to complete on or about May 15, 2009. Completion of the transaction remains subject to execution of definitive agreements and receipt of all necessary regulatory and other approvals.

Sandstorm's President and Chief Executive Officer, Nolan Watson and one of its Directors, David Awram are formerly executive officers of Silver Wheaton Corp., a mining company listed on both the Toronto and New York stock exchanges. Through Silver Wheaton, Messrs. Watson and Awram were involved in the successful execution and financing of approximately US$1 billion worth of metal streaming transactions over the past five years.

SilverCrest Mines Inc. is a "Silver Focused" exploration and development company with a portfolio of high grade silver and gold deposits and exploration properties located in Mexico and El Salvador. This property portfolio, which includes reported indicated and inferred silver resources and substantial exploration potential, provides an important base from which SilverCrest can develop its corporate objective of becoming a significant silver asset based company. The Company's immediate initiative is to acquire and develop substantial silver resources and ultimately to operate high grade silver mines throughout North, Central and South America.

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