🕐29.06.12 - 22:00 Uhr
SILVERCREST REPORTS ANNUAL GENERAL MEETING RESULTS
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SilverCrest Reports Annual General Meeting Results
TSX-V: SVL OTCQX: STVZF
For Immediate Release
Dear Subscriber,
VANCOUVER, B.C.
June 29, 2012 – SilverCrest Mines Inc.
(the “Company”)
is pleased to announce that the Company’s Audited Consolidated
Financial Statements for the year ended December 2011 were received and
accepted at its Annual General Meeting held on June 20^th, 2012.
Shareholders of the Company also considered and approved resolutions in
favor of:
· re-election of J.
Scott Drever, Ross O.
Glanville, Barney
Magnusson, George W.
Sanders and Graham C.
Thody as the Directors of
the Company,
· re-appointment of Davidson & Company as Auditor of the
Company, and
· approval of the Company’s “rolling 10%” Stock Option Plan.
Subsequent to the Annual General meeting the duly constituted Board of
Directors approved the following appointments:
· President & Chief Executive Officer: J.
Scott Drever
· Chief Financial Officer: Barney Magnusson
· Chief Operating Officer: N.
Eric Fier
· Corporate Secretary: Bernard Poznanski
· Vice President Operations: Brent McFarlane
· Vice President Exploration: Gerald Thomas
J.
Scott Drever, President, stated: “We wish to thank our shareholders
for their strong continued support over the past several years as the
Company developed its Santa Elena gold and silver mine in Sonora,
Mexico and transitioned to a producing company.
The Company achieved
commercial production in 2011 and showed a strong financial performance
throughout the year.
The Company will continue to improve operating
efficiencies at Santa Elena and will strive to realize the full
potential of the mine by completing an expansion plan that may
potentially double metals production by 2014.
The Company is also
rapidly advancing the delineation of a large polymetallic deposit at
the La Joya Property in Durango, Mexico which may well prove to be its
next operation.”
The TSX-Venture Exchange has requested that SilverCrest advisethat Mr.
Fred Cooper has been retained and employed asan investor relations
provider on behalf of the Company since 2003.
SilverCrest Mines Inc.
(TSX-V: SVL; OTCQX: STVZF) is a Mexican precious
metals producer with headquarters based in Vancouver, BC.
SilverCrest’s
flagship property is the 100%-owned Santa Elena Mine, which is located
150 km northeast of Hermosillo, near Banamichi in the State of Sonora,
México.
The mine is a high-grade, epithermal gold and silver producer,
with an estimated life of mine cash cost of US$8 per ounce of silver
equivalent (55:1 Ag:Au).
SilverCrest anticipates that the 2,500 tonnes
per day facility should recover approximately 4,805,000 ounces of
silver and 179,000 ounces of gold over the 6.5 year life of the open
pit phase of the Santa Elena Mine.
A three year expansion plan is
underway to double metals production at the Santa Elena Mine and
exploration programs are rapidly advancing the definition of a large
polymetallic deposit at the La Joya property in Durango, Mexico.
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking statements” within the
meaning of Canadian securities legislation and the United States
Securities Litigation Reform Act of 1995.
Such forward-looking
statements concern the Company’s anticipated results and developments
in the Company’s operations in future periods, planned exploration and
development of its properties, plans related to its business and other
matters that may occur in the future.
These statements relate to
analyses and other information that are based on expectations of future
performance, including silver and gold production and planned work
programs.
Statements concerning reserves and mineral resource estimates
may also constitute forward-looking statements to the extent that they
involve estimates of the mineralization that will be encountered if the
property is developed and, in the case of mineral reserves, such
statements reflect the conclusion based on certain assumptions that the
mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known and
unknown risks, uncertainties and other factors which could cause actual
events or results to differ from those expressed or implied by the
forward-looking statements, including, without limitation: risks
related to precious and base metal price fluctuations; risks related to
fluctuations in the currency markets (particularly the Mexican peso,
Canadian dollar and United States dollar); risks related to the
inherently dangerous activity of mining, including conditions or events
beyond our control, and operating or technical difficulties in mineral
exploration, development and mining activities; uncertainty in the
Company’s ability to raise financing and fund the exploration and
development of its mineral properties; uncertainty as to actual capital
costs, operating costs, production and economic returns, and
uncertainty that development activities will result in profitable
mining operations; risks related to reserves and mineral resource
figures being estimates based on interpretations and assumptions which
may result in less mineral production under actual conditions than is
currently estimated and to diminishing quantities or grades of mineral
reserves as properties are mined; risks related to governmental
regulations and obtaining necessary licenses and permits; risks related
to the business being subject to environmental laws and regulations
which may increase costs of doing business and restrict our operations;
risks related to mineral properties being subject to prior unregistered
agreements, transfers, or claims and other defects in title; risks
relating to inadequate insurance or inability to obtain insurance;
risks related to potential litigation; risks related to the global
economy; risks related to the Company’s status as a foreign private
issuer in the United States; risks related to all of the Company’s
properties being located in Mexico and El Salvador, including
political, economic, social and regulatory instability; and risks
related to officers and directors becoming associated with other
natural resource companies which may give rise to conflicts of
interests.Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in the forward-looking
statements.
The Company’s forward-looking statements are based on
beliefs, expectations and opinions of management on the date the
statements are made.
For the reasons set forth above, investors should
not place undue reliance on forward-looking statements.
The information provided in this news release is not intended to be a
comprehensive review of all matters and developments concerning the
Company.
It should be read in conjunction with all other disclosure
documents of the Company.
The information contained herein is not a
substitute for detailed investigation or analysis.
No securities
commission or regulatory authority has reviewed the accuracy or
adequacy of the information presented.
“J.
Scott Drever”
J.
Scott Drever, President
For further information, please contact:
Fred Cooper
570 Granville Street, Suite 501
Vancouver, BC V6C 3P1
Telephone: (604) 694-1730
Fax: (604) 694-1761
Email: [2]
Website: [3]www.silvercrestmines.com
Toll Free: 1-866-691-1730 (Canada & USA)
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Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SilverCrest Mines Inc.
Copyright ©2008 | [4]
SilverCrest Mines Inc.
- 570 Granville St., Suite 501 V6C 3P1,
Vancouver BC
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