Mr. N. Eric Fier reports
SILVERCREST FILES MINERAL RESOURCE TECHNICAL REPORT ON THE LAS CHISPAS PROPERTY
Silvercrest Metals Inc. filed today a technical report titled "Technical Report and Mineral Resource Estimate for the Las Chispas Property, Sonora, Mexico," dated April 23, 2018, with an effective date of Feb. 12, 2018, on SEDAR, and the report is also available on Silvercrest's website. The Las Chispas report was independently completed for the company by Tetra Tech Canada Inc. in accordance with National Instrument 43-101(Standards of Disclosure for Mineral Projects).
There are no material differences between the assumptions and estimates contained in the company's press release dated Feb. 26, 2018, on the Las Chispas property and those contained in the filed Las Chispas report.
The company advises that, as identified by Tetra Tech, the Las Chispas report discloses a slight increase of tonnages in the estimate on historical dumps by 26,500 tonnes, which does not have a material effect on the overall mineral resource estimate. Details of the revised mineral resource estimate are found in the attached table.
SILVERCREST'S LAS CHISPAS RESOURCE SUMMARY -- EFFECTIVE FEB. 12, 2018 (AS AMENDED)Resource category (1) TonnesAu gptAg gptAgEq gptContained gold ouncesInferred (3) (5) (6) 3,443,5003.63 296 568401,600Inferred resource summary by veinVeinAverage true widthTonnesAu gptAg gptAgEq gptContained gold ouncesBabicanora 3.2 1,894,0005.41 361 766329,000Includes area 51 2.7 967,0007.43 469 1,026231,000Las Chispas3.0 171,0002.39 340 520 13,000Giovanni 2.0 607,0001.37 237 340 27,000William Tell 1.5 595,0001.32 185 284 25,000Historical dumps (4) n/a 174,5001.38 119 2227,600Resource category (1) Contained silver ouncesContained AgEq (2) ouncesInferred (3) (5) (6) 32,675,600 62,826,100VeinContained silver ouncesContained AgEq (2) ouncesBabicanora 21,952,000 46,641,000Includes area 51 14,581,000 32,247,000Las Chispas 1,874,0002,861,000Giovanni4,633,0006,641,000William Tell3,543,0005,438,000Historical dumps (4)664,6001,246,100(1) Conforms to National Instrument 43-101, Companion Policy 43-101CP, and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards for mineral resources and mineral reserves, as amended. Inferred resources have been estimated from geological evidence and limited sampling and must be treated with a lower level of confidence than measured and indicated resources.(2) Silver equivalence based on 75 (silver) to one (gold) and 100-per-centmetallurgical recovery. (3) Previously reported in the Feb. 26 news release as 3,415,000 tonnes grading 3.66 grams per tonne Au and 297 gpt Ag, or 572 gpt AgEq and contained 402,000 ounces gold and 32.65 million ounces silver, or 62.8 million ounces AgEq.(4) Previously reported in the Feb. 26 news release as 148,000 tonnes grading 1.60 gpt Au and 136 gpt Ag, or 256 gpt AgEq and contained 7,000 ounces gold and 648,000 ounces silver, or 1,219,000 ounces AgEq. (5) All numbers are rounded. Overall numbers may not be exact due torounding.(6) In situ vein resource is reported using a 150-gram-per-tonne-gold-equivalent-cut-off grade and minimum 1.5-metre true width, and surface stockpile resource is reported using a 100-gram-per-tonne-silver-equivalent cut-off.
Qualified person
The mineral resources for the Las Chispas property disclosed in this news release have been estimated by P. James F. Barr, PGeo, senior geologist and team lead, geology, for Tetra Tech and independent of Silvercrest. Mr. Barr is a qualified person as defined in NI 43-101. The mineral resources have been classified in accordance with CIM definition standards for mineral resources and mineral reserves, as amended. Mr. Barr has read and approved the contents of this press release as it pertains to the disclosed mineral resource estimate.
About Silvercrest Metals Inc.
Silvercrest is a Canadian precious metal exploration company headquartered in Vancouver, B.C., that is focused on new discoveries and value-added acquisitions and targeting production in Mexico's historical precious metal districts. The company's current focus is on the high-grade, historical Las Chispas mining district in Sonora, Mexico. Silvercrest is the first company to drill test the historical Las Chispas project, resulting in numerous discoveries. The company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on-time and on-budget construction, and production.
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