Silvercrest holders elect seven-member board at AGM

2014-06-13 12:35 ET - News Release

Mr. Scott Drever reports

SILVERCREST REPORTS RESULTS OF AGM

Silvercrest Mines Inc. has provided the results of its annual general meeting of shareholders held in Vancouver, B.C.

Shareholders voted in favour of all items of business, including the election of each director nominee by show of hands. A total of 38,023,455 votes were submitted by proxy, representing 32.03 per cent of the issued common shares as of the record date. Votes submitted by proxy are tabulated as shown.

                                                     Percentage   Percentage
Director                Votes for   Votes withheld          for     withheld

Dunham Craig           33,342,847          125,360       99.63%        0.37%
J. Scott Drever        27,666,485        5,801,722       82.66%       17.34%
N. Eric Fier           27,666,481        5,801,726       82.66%       17.34%
Ross Glanville         31,432,810        2,035,397       93.92%        6.08%
Barney Magnusson       26,410,473        7,057,734       78.91%       21.09%
George Sanders         32,538,841          929,366       97.22%        2.78%
Graham Thody           32,539,075          929,132       97.22%        2.78%

Shareholders also cast votes by ballot with 64.88 per cent voted in favour of reconfirming the company's shareholder rights plan. In addition, shareholders voted in favour to reappoint Davidson & Company, charted accountant, as auditor of the company.

J. Scott Drever, chief executive officer, stated: "It is particularly gratifying to have shareholders reaffirm their confidence in management with the election of its proposed slate of directors. We are extremely pleased with the election of Dunham Craig to the board. Mr. Craig has 26 years in the mining industry, which has encompassed all aspects of mining projects and operations, progressing from exploration discovery to feasibility, financing, permitting, construction, and production related to two mines. He has extensive experience in Canada, Central America and Mexico with groups such as Wheaton River Minerals Inc. and Glencairn Gold Inc., and has worked in development, construction and production in Latin America for over 15 years. In addition to his 'discovery to production' experience with Wheaton River Minerals, Mr. Craig was project, construction and interim mine manager for a 12,000-tonne-per-day gold heap leach operation in Central America. Mr. Craig is currently president and CEO of Geologix Explorations, which has successfully acquired and permitted a 38,000-tonne-per-day gold/copper project in Mexico.

"Mr. Craig brings to the board a broad range of hands-on experience in all aspects of the mining sector. His fellow directors and management of the company welcome his participation, and look forward to working with him as the many exciting aspects of the growth of Silvercrest continue to unfold."

At the board of directors meeting following the AGM, Graham Thody was appointed non-executive chairman of the company, replacing Mr. Drever, who had previously served as executive chairman. Mr. Drever remains CEO and a director of the company. Thomas Keating, corporate controller, was appointed vice-president finance for the company.

Mr. Thody was reappointed chair of the audit committee; George Sanders was reappointed chair of the corporate governance and nominating committee; and Ross Glanville was reappointed chair of the compensation committee. Mr. Craig replaced Mr. Thody as a member of the corporate governance and nominating committee.