SILVERCREST MINES INC. (TSXV:SVL): FOLLOW-UP NO 6 / November 27, 2007

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HIGH GRADE SILVER AND GOLD DEPOSITS IN MEXICO AND EL SALVADOR

Business Summary

SilverCrest Mines Inc. is a silver exploration and development company with a portfolio of high grade silver deposits and exploration properties located in Mexico, El Salvador, and an Area of Interest in Chile. The Company's longer term initiative is to acquire, develop and operate high grade silver mines throughout North, South and Central America. Primary targets will be silver projects that are amenable to accelerated development and early production.

Drilling has been completed on the Cruz de Mayo property in Mexico. The results of this drilling will enable to complete the NI43-101 Resource calculation for this property.

Drilling is underway at the Santa Elena property in Mexico which will increase the resources to the existing NI43-101 report for this property.

A feasibility currently underway in El Salvador is expected to be completed by the end of 2007.

The Company is actively evaluating high grade silver properties as potential acquisitions throughout North, South and Central America.

Projects

El Salvador: El Zapote Project

SilverCrest has a 100% interest in 4,200 hectares located in northern El Salvador. The property is at the feasibility stage where it is intended, among other things, to establish mineable reserves, optimize process design (conventional mill or heap leach), verify capital and operating costs and evaluate the economic viability of the project.

Detailed drilling has now delineated the Cerro Colorado III and partially delineated the San Casimiro and Tajado deposits. These are three of several known deposits within the El Zapote concession.

The new resources for the project, which includes resources for the Tajado deposit, are presented below:

These resources are based on the combined results of work programs completed by the Company and previous operators. Work includes 87 drill holes totalling 8,662 metres and 23 trenches totalling 446 metres. The revised El Zapote resources are contained 65% in the main Cerro Colorado III deposit, 7% in the San Casimiro satellite deposit, and 29% the Tajado satellite deposit. The revised resource estimation was prepared by N. Eric Fier, CPG, P. Eng., Qualified Person and Chief Operating Officer of the Company.

Capital costs are being optimized to reflect the potential purchase of used mill equipment, possible contract mining and local construction costs for materials and labour. Operating costs are being optimized to reflect local labour costs, use of the regional electric power grid, and enhanced recoveries based on bulk sample metallurgical testwork. Permitting for an exploitation license is underway.

Mexican Projects

Santa Elena, Cruz de Mayo Projects

SANTA ELENA:

Indicated Resources are now estimated at 7.4 million tonnes grading 1.81 gpt Au and 74.2 gpt Ag and contain 428,700 ounces of gold and 17.6 million ounces of silver based on a 0.5 gpt gold equivalent cut-off grade.

Inferred Resources are estimated at 2.6 million tonnes grading 1.37 gpt Au and 73.06 gpt Ag and contain 114,800 ounces of gold and 6.1 million ounces of silver.

CRUZ DE MAYO:

Indicated Resources are estimated at 1.1 million tonnes grading 64.15.0 gpt Ag and contain 2.3 million ounces of silver based on a 30 gpt silver cut-off grade.

Inferred Resources are estimated at 6.0 million tonnes grading 66.5 gpt Ag, and contain 12.9 million ounces of silver. The gold resource estimate is still pending. The average uncut gold grade is approximately 0.1 gpt Au.

With the addition of these new resources, the Company's total Indicated Silver Equivalent Resources now stand at 57.5 million ounces, representing an increase of 117%, up from 26.4 million ounces.

Total Inferred Silver Equivalent Resources now are estimated to be 29.9 million ounces of silver representing an increase of 34.1%, up from 22.3 million ounces. Conversion of gold to silver equivalents is based on a 60:1 silver to gold ratio and assumes 100% metal recovery. Alternatively, if the same conversion ratio is applied to the silver resources then indicated gold and gold equivalents would be 958,200 ounces gold and inferred gold and gold equivalents would be 498,900 ounces.

The updated Santa Elena resource estimate is based on the following key assumptions; a cutoff of 30 gpt Ag equivalent (0.5 gpt Au equivalent); silver grades exceeding 300 gpt were cut to 300 gpt based on log probability; gold grades exceeding 20 gpt were cut to 20 gpt based on log probability; raw data was composited to statistical relevant lengths of 3 metres; a 10 metre by 10 metre by 5 metre block size was used based on geological constraints and potential future mining method; variography and ordinary kriging was used to create both gold and silver block models; block models were classified into Indicated and Inferred Resources according to appropriate criteria based on sample sets and search radii; parameters used for resource estimation are approximately 35 metres for Indicated Resources and 150 metres for Inferred Resources; a minimum of three sample points were required to interpolate grade; and a specific gravity of 2.67 was used based on test work. These are the criteria used by Scott Wilson RPA for the initial resource estimation. Details of these criteria will be presented in the upcoming Technical Report.

The reported resources for Santa Elena are found within approximately 800 metres of a known strike length of the Main Zone of more that 1200 metres. An on going work program at Santa Elena for further expansion of the current resource with additional drilling is currently underway.

Significant potential for resource expansion exists along the eastern strike of the main mineralized zone and the footwall of the main mineralized zone where surface sampling has indicted high grade silver mineralization. Induced Polarization and magnetic geophysical surveys are underway and are expected to detail the Main Zone and its possible extensions as well as identify additional targets with similar geophysical signatures.

A comprehensive pre-feasibility study is nearing completion and it is expected that a production decision for the Santa Elena project will be made before the end of the year. Capital and operating cost estimates are in hand and column percolation leach tests to determine metallurgical recovery of gold and silver are nearing completion. The deposit is potentially amenable to open pit mining and standard heap leach processing.

The Cruz de Mayo resource estimate is based on the following key assumptions; a cut-off of 30 gpt silver, silver grades exceeding 300 gpt were cut to 300 gpt based on log probability; raw data was composited to statistical relevant lengths of 2 metres; a 10 metre by 10 metre by 5 metre block size was used based on geological constraints and potential future mining method; variography and ordinary kriging was used to create both gold and silver block models; the interpolation method was Ordinary Kriging, performed in two passes: one using a search ellipsoid matching the variogram model and the second at a range of 90 x 90 x 50m. The first pass was constrained to a minimum of 2 and maximum of 12 composites per block, with a maximum of 3 allowed from any one drill hole. The second pass, carried out at the larger search distance, was allowed to estimate blocks with a minimum of 1 composite, with all other search constraints kept the same; block models were classified into Indicated Resources using blocks from the first pass with a minimum of six composites and a distance to the nearest composite of 35 metres, into Inferred Resources using all blocks estimated in the second pass plus all first pass blocks not captured in the Indicated category, and a specific gravity of 2.54 based on test work. Details of these criteria will be presented in the upcoming Technical Report.

This resource estimate represents approximately 1.5 kilometres of the approximately 2.7 kilometre known strike length of the deposit. A work program at Cruz de Mayo for further expansion of the current resource with additional drilling is planned in 2008. The deposit is potentially amenable to open pit mining and standard heap leach processing. Significant potential for resource expansion exists along of the main mineralized zone and down dip.

Silver Angel Project

The Company has a 100% interest in +18,000 hectares located in the northern Sierra Madre Range in the State of Sonora, Mexico. The Silver Angel Concession contains an area of intense alteration that is approximately 20 kilometers long by 3 kilometers wide with structural features that host seven past producing, high grade silver gold mines, including the Cruz de Mayo Prospect.

Chile: area of interest agreement

The Company has entered into an area of interest agreement whereby SilverCrest will jointly participate in the identification, exploration and development of mining opportunities in Chile. The area of interest is located in Region III in northern Chile and comprises approximately 70,000 square kilometers.

SilverCrest intends to establish a presence in Chile to acquire and develop high grade silver deposits. The area of interest is host to several world class silver deposits. SilverCrest entered into the agreement to access technical expertise and established infrastructure in Chile as well as an extensive data base of mining properties, certain geological knowledge and professional expertise within the area of interest. SilverCrest believes that the combination of technical expertise at the exploration level and SilverCrest's operating experience will provide synergies for its corporate activities in Chile.

Recent News: SilverCrest Announces Resource Increase

SilverCrest Mines Inc. announced the results of an updated silver and gold resource estimation for the Santa Elena project and a new silver resource estimate for its Cruz de Mayo project. The following is a summary of SilverCrest's NI 43-101 compliant silver and gold resources.

SANTA ELENA:

Indicated Resources are now estimated at 7.4 million tonnes grading 1.81 gpt Au and 74.2 gpt Ag and contain 428,700 ounces of gold and 17.6 million ounces of silver based on a 0.5 gpt gold equivalent cut-off grade.

Inferred Resources are estimated at 2.6 million tonnes grading 1.37 gpt Au and 73.06 gpt Ag and contain 114,800 ounces of gold and 6.1 million ounces of silver.

CRUZ DE MAYO:

Indicated Resources are estimated at 1.1 million tonnes grading 64.15.0 gpt Ag and contain 2.3 million ounces of silver based on a 30 gpt silver cut-off grade.

Inferred Resources are estimated at 6.0 million tonnes grading 66.5 gpt Ag, and contain 12.9 million ounces of silver. The gold resource estimate is still pending. The average uncut gold grade is approximately 0.1 gpt Au.

With the addition of these new resources, the Company's total Indicated Silver Equivalent Resources now stand at 57.5 million ounces, representing an increase of 117%, up from 26.4 million ounces. Total Inferred Silver Equivalent Resources now are estimated to be 29.9 million ounces of silver representing an increase of 34.1%, up from 22.3 million ounces. Conversion of gold to silver equivalents is based on a 60:1 silver to gold ratio and assumes 100% metal recovery. Alternatively, if the same conversion ratio is applied to the silver resources then indicated gold and gold equivalents would be 958,200 ounces gold and inferred gold and gold equivalents would be 498,900 ounces.

Fundamental Considerations

Comparison with a Peer Group

SilverCrest compares extremely favourably with the Peer Group listed below after reporting a significant increase in indicated and referred resources on November 15 with a Market Capitalisation of only $ 0.56 per ounce of silver.

The Company believes that "Significant potential for resource expansion exists in Santa Elena along the eastern strike of the main mineralized zone and the footwall of the main mineralized zone where surface sampling has indicted high grade silver mineralization. Induced Polarization and magnetic geophysical surveys are underway and are expected to detail the Main Zone and its possible extensions as well as identify additional targets with similar geophysical signatures."

Potential of resource expansion evidently also exists in their other properties.

More positive news which can be expecting over the next months will certainly cause a revaluation of this undervalued company.

Technical Considerations

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Disclosure: The author has not been paid to write this article, nor has he received any other inducement to do so. The author is a shareholder in thecompany and will benefit from any increase in the company's share price.

Disclaimer: The author's objective in writing this article is to invoke an interest on the part of potential investors in this stock to the point where they are encouraged to conduct their own further diligent research. Neither the information nor the opinions expressed should be construed as a solicitation to buy or sell this stock. Investors are recommended to obtain the advice of a qualified investment advisor before entering into any transactionsin the stock.

THE TIMELESS PRECIOUS METAL FUND AND THE SIERRA MADRE GOLD & SILVER VENTURE CAPITAL FUND are shareholders in the company and will benefit from any increase in the company's share price.
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