SilverCrest Metals Receives Underground Drilling & Bulk Sample Permit for Las Chispas Project in Mexico - Video Available on Investmentpitch.com

Vancouver, British Columbia--(Newsfile Corp. - October 21, 2016) - SilverCrest Metals (TSXV: SIL) has received its underground drill permit for its Las Chispas Project, located in Sonora State, Mexico, a historic silver-gold mining district which presently hosts two nearby precious metal producers. The permit includes permission to mine a 100,000-tonne bulk sample for testing off-site.

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With these permits in hand, SilverCrest is preparing to start an extensive Phase II exploration program in November, which will include an underground core drilling program of 2,000 metres and a minimum surface core drill program of 6,000 metres. Phase II drilling will also include targets at the historic Varela Mine, Espiritu Santo Mine, and Granaditas Mine.

SilverCrest anticipates that this Phase II campaign will be completed by early Q2 2017, with the results to be incorporated into a maiden resource estimate in late Q2 2017.

N. Eric Fier, President & CEO, stated: "We are very encouraged with the early success from our initial drilling campaign at Las Chispas, which has confirmed continuity of high grades over potential mineable thicknesses. With the underground drilling permit, we will start drill-defining resources and preparing for a broader Phase II exploration program. Our current focus is to systematically drill the Las Chispas and William Tell veins in a grid pattern for resource estimation, test vein extensions and to further explore the Babicanora area. SilverCrest's schedule is to establish a maiden resource estimation in the first half of 2017. We see further upside in this historic silver-gold mining district with prospective discoveries of multiple unidentified veins, and drill testing Babicanora which is considered the largest target in the district."

The recently completed Phase I exploration work consisted of approximately 6,400 metres of drilling in 22 core holes. At the Las Chispas Vein, one of the more significant holes "LC16-05" reported 4.6 metres in true width grading 4.6 gpt gold and 622 gpt silver, or 963 gpt silver equivalent. At the William Tell Vein, about 120 metres to the west, and running parallel to the Las Chispas Vein, Hole LC16-03 reported 2.3 metres in true width grading 1.6 gpt gold and 584 gpt silver, or 705 gpt silver equivalent.

Surface dump trenching and sampling is ongoing in easily accessible areas. As at September 15th, results from 493 samples showed potential economic material immediately available for possible processing. Average dump grades are 1.04 gpt gold and 78.1 gpt silver, or 156 gpt silver equivalent, with select grades up to 4,548 gpt silver equivalent.

As previously reported, the first Las Chispas NI 43-101 non-resource technical report should be completed and available before the end of October 2016.

The shares are trading at $2.50 and with 41.1 million shares outstanding, the company is capitalized at $102.8 million.

For more information, please visit the company's website www.SilverCrestMetals.com, contact Fred Cooper, Investor Relations, at 604-694-1730 or 1-866-691-1730, or email info@SilverCrestMetals.com.

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