Q&A with Mr. N. Eric Fier, President and COO of SilverCrest Mines Inc. (TSX: SVL) (NYSE MKT: SVLC); Expansion Plans for Mexico

NEW YORK and POINT ROBERTS, Wash., June 16, 2014 /PRNewswire/ -- Investorideas.com (http://www.investorideas.com), a global news source covering leading sectors including mining issues an exclusive Q&A interview with the President and COO of SilverCrest Mines Inc. (TSX: SVL) (NYSE MKT: SVLC). Mr. N. Eric Fier discusses the recent commissioning of the new 3,000 tpd CCD-MC processing plant now underway at its 100% owned Santa Elena Mine in Sonora, Mexico and the company's expansion plans moving forward. 

Q&A Interview:

Q: Investorideas.com

Eric, the company recently announced the commissioning of its new mill at the Santa Elena mine. Can you give investors a deeper insight as to the significance of this milestone and how it is key to transitioning from a junior to a mid-tier precious metal producer?

A: N. Eric Fier, President and COO

The commissioning period for the new mill started on May 1 and is for a period of approximately 3 months. With the success of this commissioning, production will increase 25 to 35% over last year and potentially another 10 to 20% next year. This growth profile moves us closer to being a mid-tier producer.

Q: Investorideas.com

With junior mining companies facing a big downturn due to dropping commodity prices and reduced margins, it's a tough environment in current conditions. Your first quarter reflected the overall condition of the market but you stated the commissioning of the new 3,000 tpd mill positioned you to continue to generate strong operating cash flows in H2 2014, with continued strengthening of your cash position of $54.5 million at March 31, 2014. Silvercrest seems to have a successful track ahead in spite of the market. Can you elaborate on your magic formula for success and finding the silver lining so to speak, in spite of what is happening around you? 

A: N. Eric Fier, President and COO

Success formula is based on;

1. A responsible phased business model, start small and grow through cash flow that minimizes capital risk.
2. Don't over commit the company on capital expenditures with respect to acquisitions in a good or bad market.
3. Executives have skin in the game and interests of shareholders.
4. Location, location, location – ease of access to a project goes a long way to minimize risk.

Q: Investorideas.com

For Investors that are more familiar with your flagship property, Santa Elena but unaware of your other properties, can you give some insight as to your plans for the new Ermitano property?

A: N. Eric Fier, President and COO

We have been working on low-cost property acquisitions around Santa Elena for about 1.5 years. This includes the newly-acquired Ermitano concessions located adjacent to the Santa Elena Mine. Ermitano currently consists of 3 targets (main, East and Southeast). All targets are grassroots with no previous drilling and appear to be similar geologically to Santa Elena. Grades at the surface range from trace to 8 gpt gold and trace to 600 gpt silver. Our plan is to drill these targets over in 2014. All of this is considered organic growth potential.

Q: Investorideas.com

Can you elaborate on your production/expansion plans for 2014 now that you have raised capital and commissioning of your plant is underway?

A: N. Eric Fier, President and COO

Our focus is the get to nameplate mill capacity of 3000 tpd which is a nominal rate. We will be testing up to 4000 tpd capacity in 2014 with no additional capital requirements. Underground development will continue as sustaining capital for the next 8 year mine life. We are estimating free cash flow (FCF) to start in August 2014.

Q: Investorideas.com

They say in the mining industry the key factors of success for a mining company are a combination of assets, location, management and balance sheet. How would you rate your company based on these four, from your strongest position to your weakest?

A: N. Eric Fier, President and COO

These vary over time; we are currently near the peak of success on all four criteria for the junior producer status and looking to build on these factors for the next stage as a mid-tier producer.

SilverCrest Mines Inc. (NYSE MKT: SVLC; TSX: SVL) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest's flagship property is the 100%‐owned Santa Elena Mine, located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high‐grade, epithermal silver and gold producer, with an estimated life of mine of 8 years and operating cash costs of $11 per ounce of silver equivalent (55:1 Ag:Au) for the open pit heap leach and underground mine. SilverCrest anticipates that the new 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average annual rate of 1.5 million ounces of silver and 32,800 ounces of gold over the current reserve. Major expansion and construction of the 3,000 tonnes per day conventional mill facility is nearing completion and is expected to significantly increase metals production at the Santa Elena Mine (open pit and underground) in 2014 and beyond. Exploration programs continue to make new discoveries at Santa Elena and also have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State, Mexico.

Contact:

SilverCrest Mines Inc.
Fred Cooper
+1-604-694-1730 ext. 108
Toll Free: 866-691-1730
+1-604-694-1761
[email protected]
www.silvercrestmines.com

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