SilverCrest Announces Additional Drill Results, Expands Phase II Program; Intercepts 1.9 Metres Grading 8,803 gpt AgEq* at Las Chispas

VANCOUVER, BC – August 3, 2017 – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to announce additional Phase II drill results for the Las Chispas Property (the “Property”) located in Sonora, Mexico. These additional drill results, combined with results announced in previous news releases, show continued expansion of unmined high-grade mineralization in the Giovanni and William Tell veins. This drilling also encountered initial high-grade intercepts in the Varela Vein and newly discovered La Blanquita Vein (see attached Figures). Mineralized intercepts summarized in this news release represent only a portion of the 19 epithermal veins that have been identified to date on the Property. Additional drill results are anticipated over the next several months.

N. Eric Fier, CPG, P.Eng, President and CEO, remarked, “We continue to successfully explore and expand our high-grade footprint at the Las Chispas Property through systematic drilling on multiple veins. A high-grade intercept of 1.9 metres grading 50.56 grams per tonne (“gpt”) gold and 5,018.8 gpt silver or 8,803 gpt silver equivalent (“AgEq”*) shows intact bonanza grades in the Giovanni Vein. Our ongoing underground rehabilitation, sampling and drill-testing of the various veins continues to discover unmined areas with grades similar to reported historic production grades estimated at 15 gpt gold and 1,700 gpt silver or 2,875 gpt AgEq*. Although our primary drilling focus has shifted to the larger nearby Babicanora Vein, the Giovanni and William Tell veins continue to show further potential for high-grade mineralization. Given recent new discoveries and the expansion of the high-grade footprint of the district, we are again expanding our Phase II program until the end of 2017.”

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