Report of Acquisition of Beneficial Ownership of Common Shares of SilverCrest Metals Inc.

Vancouver, British Columbia--(Newsfile Corp. - December 20, 2017) - Donald Smith Value Fund, L.P. (the "Fund") reports that it has acquired deemed beneficial ownership and control of 1,800,000 common shares ("Common Shares") of SilverCrest Metals Inc. ("SilverCrest") through the private placement purchase on December 19, 2017 of 1,200,000 units of SilverCrest ("Units") at Cdn.$1.05 per Unit for total consideration paid of Cdn.$1,260,000. Each Unit consisted of one Common Share and one‑half of one Common Share purchase warrant ("Warrant"), with each Warrant being exercisable to purchase one Common Share at Cdn.$1.45 until December 19, 2019.

The Fund currently has deemed beneficial ownership of 7,650,000 Common Shares of SilverCrest (including 1,050,000 Common Shares underlying share purchase warrants of SilverCrest held by the Fund), representing 11.83% of the deemed outstanding Common Shares, a decrease of 0.1% from the Fund's previously reported shareholding percentage in the Common Shares.

The Fund has acquired the Common Shares for investment purposes. The Fund may acquire additional Common Shares or dispose of Common Shares (through market or private transactions or exercises of share purchase warrants) from time to time.

A copy of the related early warning report may be obtained from the SEDAR website (www.sedar.com) or from Ann Cianfrone at Donald Smith Value Fund, L.P. at (212) 284‑0990.

DONALD SMITH VALUE FUND, L.P.

Per: "Donald Smith"
         Donald Smith, Managing Member