SilverCrest Mines Inc. (TSX VENTURE:SVL) (NYSE MKT:SVLC) is pleased to announce its financial results for the third quarter ended September 30, 2013. All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in U.S. dollars unless otherwise specified. The information in this news release should be read in conjunction with the Company’s unaudited condensed consolidated interim financial statements for the three and nine months ended September 30, 2013 and associated management discussion and analysis (“MD&A”) which are available from the Company’s website at www.silvercrestmines.com and under the Company’s profile on SEDAR at www.sedar.com.

N. Eric Fier, President and COO stated; “During Q3, despite sustained lower metal prices, SilverCrest generated strong positive cash flows and net earnings. Our free cash flow continues to be reinvested at Santa Elena as capital expenditures for the expansion plan with $14.4m invested in Q3. Management continues to focus on improving operating performance and profit margins especially in light of the new mining taxes currently being legislated in Mexico. We remain on track to achieve or better our cost guidance of $8.50 per silver equivalent ounce and production guidance of 2.44 million ounces of silver equivalent (Ag:Au 55:1).”

FINANCIAL HIGHLIGHTS OF Q3, 2013, Compared to Q3, 2012:

--  Cash flow from operations (1) decreased 30% to $7.1 million ($0.07 per

    share).

--  Cash operating cost per silver equivalent ounce sold (2) increased 5% to

    $7.96.

--  All-in sustaining cash costs per silver equivalent ounce sold (3)

    decreased by 23% to $10.41.

--  Revenues reported - IFRS (4) decreased 18% to $13.7 million.

--  Sales of 204,947 ounces of silver, another quarterly record, were up

    35%.

--  Sales of 7,522 ounces of gold were down 5%.

--  Realized metal prices for ounces sold - silver price fell 31% to $22/oz

    and gold price fell 21% to $1,346/oz.

--  Bullion inventory at September 30, 2013, included 53,131 ounces of

    silver and 1,819 ounces of gold.

--  Net earnings amounted to $3.71 million ($0.03 per share), compared to

    $1.26 million ($0.01 per share).

--  Cash and cash equivalents totaled $24.1 million (at September 30, 2013)

    after capital investments of $14.4 million.

--  Working capital was $30.9 million at September 30, 2013.

COMPARISON OF THE THREE MONTHS ENDED SEPTEMBER 30, 2013 to SEPTEMBER 30, 2012;

Net earnings were $3,705,318 ($0.03 per share basic) for the third quarter compared with $1,263,316 ($0.01 per share basic) in 2012. The increase in net earnings during the quarter was primarily driven by the elimination of the marked-to- market derivative impact from Hedge Facility deliveries and lower income taxes in the period, partially offset by a decrease in revenue resulting from significantly lower realized prices and lower gold sales.

Silver and gold revenue totaled $13,669,133 (2012 – $16,694,752) in the third quarter, which includes $13,104,527 (2012 – $15,469,381) received on a cash basis.

Silver sales were another quarterly record of 204,947 ounces (2012 – 152,088), 35% higher than the same period in 2012. The foregoing, combined with a 31% lower average realized price at $22 (2012 – $31) per ounce, resulted in 7% less silver revenue.

Total gold sales were 7,522 ounces (2012 – 7,923) or 5% below 2012. The Company sold 6,017 (2012 – 5,423) ounces of gold at an average realized price of $1,346 (2012 – $1,707) per ounce, a 21% decline in realized price resulting in 13% less gold revenue. The Company delivered 1,504 gold ounces (2012 – 1,585) under the Sandstorm Gold Ltd. Purchase Agreement at $350 per ounce.

Cost of sales amounted to $5,293,749 (2012 – $4,239,773). Cash cost per silver equivalent ounce sold amounted to $7.96, Ag:Au(2) 61.2:1 (2012 – $7.60, Ag:Au(2) 51.3:1). The increase in 2013 cash cost per silver equivalent ounce sold is driven generally by higher operating costs with increases in mining contractor costs, higher crusher operating costs due to decreased throughput attributed to the effects of the rainy season, and annual salary and benefit increases for mine site personnel.

General and administrative expenses increased by 5% to $1,125,084 (2012 – $1,070,468) primarily due to an increase in remuneration, professional fees and Mexico corporate expenses. Remuneration increased by 23% to $465,050 (2012 – $379,081) with the addition of new corporate personnel in Q1, 2013, and increased compensation for management and other employees effective January, 2013. Professional fees increased by 51% to $158,231 (2012 – $104,803) due to additional legal fees relating to various corporate matters. Mexico corporate expenses increased by 75% to $177,318 (2012 – $101,056), with additional tax and legal expenses.

Deferred tax expense amounted to $663,000 (2012 – $189,000), primarily due to recognizing an income tax deduction on 2013 Santa Elena exploration drilling and related costs, which resulted in reducing the Mexican tax basis compared with the financial statement carrying book value.

Exchange gain on translation to US Dollars amounted to $459,247 (2012 – $949,838) due to the strengthening in the third quarter of the Canadian dollar against the US dollar. The financial results of the Company’s Canadian operations were translated at US$1.00 = CAD$1.0512 at June 30, 2013 and US$1.00 = CAD$1.0285 at September 30, 2013.

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FINANCIAL AND OPERATING HIGHLIGHTS:           Q3 2013         Q3 2012

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Cash flow from operations (1)             $ 7,120,091    $ 10,224,354

Cash flow from operations (1) per

 share                                         $ 0.07          $ 0.11

Cash operating cost per AgEq ounce

 sold (2)                                      $ 7.96          $ 7.60

All-in sustaining cash costs per

 AgEq ounce sold (3)                          $ 10.41         $ 13.53

Revenues

  Silver revenue                          $ 4,478,813     $ 4,811,342

  Gold revenue - cash basis               $ 8,625,714    $ 10,658,039

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                                         $ 13,104,527    $ 15,469,381

  Gold revenue - non cash

    - adjustment to market spot

     price (4)                                    $ -       $ 630,666

    - amortization of deferred

     revenue                                 $564,606       $ 594,705

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Revenues reported                        $ 13,669,133    $ 16,694,752

Cost of sales                           ($ 5,293,749)   ($ 4,239,773)

Depletion, depreciation and

 accretion                              ($ 1,490,561)   ($ 1,466,356)

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Mine operating earnings                   $ 6,884,823    $ 10,988,623

Loss on derivative instruments (4)                $ -   ($ 5,126,321)

Other net expenses                      ($ 1,302,281)   ($ 1,436,986)

Finance charges                            ($ 61,224)             $ -

Tax expense                             ($ 1,816,000)   ($ 3,162,000)

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Net earnings                              $ 3,705,318     $ 1,263,316

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Exchange gain on translation to US

 Dollars                                    $ 459,247       $ 949,838

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Comprehensive earnings                    $ 4,164,565     $ 2,213,154

Weighted average number of common

 shares outstanding                       108,775,813      89,737,466

Earnings per common share - basic              $ 0.03          $ 0.01

Earnings per common share - diluted            $ 0.03          $ 0.01

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Silver ounces sold                            204,947         152,088

Gold ounces sold                                7,522           7,923

Silver equivalent ounces sold (2)             665,154         558,185

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

    is a Non-IFRS performance measure.

(2) Silver equivalent ("AgEq") ounces consist of the number of ounces of

    silver sold plus the number of ounces of gold sold multiplied by the

    ratio of the spot gold price to the spot silver price at the quarter end

    dates (Q3 2013; 61.2:1, Q3 2012; 51.3:1).

(3) SilverCrest has started to report all-in sustaining cash costs effective

    Q2, 2013. All-in sustaining cash costs includes cost of sales, general

    and administrative expenses, sustaining capital and exploration

    expenditures at the Santa Elena Mine. This is a Non-IFRS performance

    measure.

(4) The MBL Hedging Facility was fully repaid in fiscal 2012, so this non-

    cash adjustment has now been eliminated.

NON-IFRS PERFORMANCE MEASURES

The discussion of financial results in this press release includes reference to “cash flows from operations before changes in working capital items”, “cash operating cost per silver equivalent ounce sold” and “all-in cash cost per silver equivalent ounce sold”, which are non-IFRS performance measures. The Company presents these measures to provide additional information regarding the Company’s financial results and performance. Please refer to the Company’s MD&A for the three and nine months ended September 30, 2013, for a reconciliation of these measures to reported IFRS results.

OUTLOOK

SANTA ELENA OPERATIONS

SilverCrest’s immediate focus is to continue its efficient operation of its flagship Santa Elena low cost open pit silver and gold mine. Operations are running smoothly with open pit producing high grade benches with gold and silver grades reaching daily highs of 5.8 gpt and 175 gpt respectively. The Company is confident that it will achieve market guidance production costs of less than $8.50 per ounce AgEq and metal production for 2013 of 30,000 ounces of gold and 725,000 ounces of silver.

SANTA ELENA EXPANSION PLAN

Construction of the 3000 tpd conventional mill and facilities is proceeding according to schedule with the exception of delivery of the ball mill from the manufacturer. The mill is expected to arrive on site the last week of November resulting in a possible delay of initial start up until February. Production from the open pit heap leach portion of operations will continue until the mill is fully operational.

Underground development of the Santa Elena Main Zone is proceeding on schedule with development of the zone being established at several levels for the initial production stopes. Detailed mine plans are being finalized that will optimize grade and ore recovery.

CORPORATE

Mexico is pursuing changes to its tax laws that would impact the financial performance of the Company. Among several other tax changes and administrative proposals, the Mexican government intends to initiate a 0.5% royalty on gross revenues from the sale of gold and silver and a 7.5% royalty on earnings before interest, tax, depreciation and amortization. The Company is working with its tax and legal advisors to determine the ultimate impact of the changes in order to mitigate the overall impact.

The Qualified Person under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects for this News Release is N. Eric Fier, CPG, P.Eng, President and Chief Operating Officer for SilverCrest Mines Inc., who has reviewed and approved its contents.

SilverCrest Mines Inc. is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, located 150 k m 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 ca sh cost of US$8 per ounce of silver equivalent (55:1 Ag:Au) for the open pit heap leach. SilverCrest anticipates that the 2,500 tonnes per day open pit heap leach facility at the Santa Elena mine should recover approximately 725,000 ounces of silver and 30,000 ounces of gold in 2013. Major expansion and construction of a 3,000 tonnes per day conventional mill facility is underway to significantly increase metals production at the Santa Elena Mine (open pit and underground) by 2014. 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 with stated resources nearing 200 million ounces of Ag equivalent.