VANCOUVER, BRITISH COLUMBIA - August 15, 2012 (Investorideas.com Mining Stocks Newswire) SilverCrest Mines Inc. (TSX-V:SVL)(OTC.BB:STVZF) (the "Company") is pleased to announce its financial results for the second quarter ended June 30, 2012 (all figures in U.S. dollars unless otherwise specified). HIGHLIGHTS OF Q2, 2012 (Compared to Q2, 2011):

    Cash flow from operations (1)increased 148% to $7.2 million.

    Cash operating cost per silver equivalent ounce sold (2)decreased 16% to $6.94.

    Revenues reported - IFRS (3)rose 87% to $16.0 million on sales of 124,739 silver ounces and 8,679 gold ounces.

 

    Comprehensive earnings amounted to $9.2 million ($0.10 ps), compared to $0.8 million ($0.01 ps).

    Working capital increased 64% to $29.6 million, up from $18.0 million.

    Cash and cash equivalents were $34.9 million (at June 30, 2012).

J. Scott Drever, President stated; "We had a strong second quarter of 2012. We sold 637,050 silver equivalent ounces (2), for gross revenues of $16.0 million, with an average cash operating cost of $6.94 per silver equivalent ounce. The Santa Elena low cost, open pit heap leach mine operations continue to perform well and generated cash flows of $7.2 million which will contribute to the financing of the Santa Elena Expansion plan and the development of our major polymetallic La Joya Project. Q2, 2012, production was consistent with our budget and cash operating costs were below our budget of $8.20 per silver equivalent ounce. As a result, we are confident in meeting or exceeding our 2012 production guidance of 435,000 silver ounces and 33,000 gold ounces."

Investorideas.com Mining Newswire

(1) Cash flow from operations before changes in working capital items.

(2) This is a Non-IFRS performance measure. Silver equivalent ounces consist of the number of ounces of silver production plus the number of ounces of gold production multiplied by the ratio of the spot gold price to the spot silver price at the quarter end dates. There are variances in produced and sold ounces due to carry forward inventories from previous quarter.

(3) Per "IFRS 18 - Revenue", revenue should be recorded at its fair value, which for gold and silver is the market spot price on the date revenue is recognized.

Comparison of Q2, 2012, to Q2, 2011

Comprehensive earnings were $9.2 million ($0.10 per share) compared with $0.8 million ($0.01 per share) for the same period in 2011. The significant increase in comprehensive earnings was largely driven by higher silver and gold sales volumes and a positive marked-to-market derivative impact, partially offset by lower realized silver and gold prices, increases in income and deferred tax expense and a larger exchange loss on translation to US Dollars.

In the second quarter 2012, silver and gold revenues totaled $16.0 million (2011 - $8.6 million), up 87% compared to the same quarter in 2011. Silver and gold revenues include $12.6 million (2011 - $6.2 million) earned on a cash basis and $2.7 million (2011 - $2.0 million) of non-cash revenues due to adjustments to gold spot market prices related to hedge facility deliveries and $0.7 million (2011 - $0.3 million) related to amortization of deferred revenues associated with the Sandstorm Agreement.

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, President

SILVERCREST MINES INC.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:

SilverCrest Mines Inc.

Fred Cooper

(604) 694-1730 ext. 108

Toll Free: 1-866-691-1730

(604) 694-1761 (FAX)

This email address is being protected from spambots. You need JavaScript enabled to view it.

www.silvercrestmines.com

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