Company Web Site: www.silvercrestmines.com

(NI) 43-101 reports from projects located in: Mexico (MX)

This report is based on NI 43-101 disclosures and fully diluted share counts available on: 2009-11-30. Metrics have been updated with stock price and metal prices in effect at the close of Canadian markets on 2010-03-11.

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SILVERCREST MINES RECEIVES US$12 MILLION FUNDING UNDER GOLD PURCHASE AGREEMENT WITH SANDSTORM RESOURCES LTD.

Sandstorm has agreed to purchase 20% of the life of mine gold production from SilverCrest’s Santa Elena project (the “Santa Elena Project”), located in Mexico, for US$12 million upfront in cash plus (a) ongoing per ounce payments equal to the lesser of (i) US$350 (which approximates SilverCrest’s cash cost of production) (subject to an increase equal to 1% per annum commencing on the third anniversary of the date that the Santa Elena Project begins commercial production), and (ii) the then prevailing market price per ounce of gold, and (b) the issuance of 3,500,000 common shares of Sandstorm as part of the upfront consideration. Reference is made to SilverCrest’s news releases dated May 15 and April 24, 2009 for further details of the transaction.

GoldMinerPulse Most Optimistic Resource Estimate Summary (MORE):
Metrics last with prices in effect at the TSX/TSXV close on 2010-03-11

Project/Deposit	CC	MVpSh	PP%	MI%	I%	Gold	Silver	Lead	Zinc
Santa Elena	MX	$16.83	46%	33%	21%	646.01 K oz	31.74 M oz
El Zapote	SV	$5.21	0	71%	29%	18.05 K oz	14.55 M oz	22.57 K t	30.01 K t
Cruz de Mayo	MX	$3.85	0	15%	85%	23.17 K oz	15.32 M oz
GoldMinerPulse Metrics - Total All Projects/Deposits by Metal, prices from 2010-Mar-11
Metric / Metal						Gold	Silver	Lead	Zinc
Metal Totals						687.23 K oz	61.60 M oz	22.57 K t	30.01 K t
Metal Prices in US$ (from 2010-03-11)						$1,108.90 per oz	$17.15 per oz	$1.01820 per lb	$1.05510 per lb
Metal Value per Share (MVpSh) (Shown in US$ and based on fully diluted share count shown below)						$10.17	$14.10	$0.68	$0.93
Percentage of Total Metal Value						39.30%	54.49%	2.61%	3.60%
PP% | MI% | I%						49% | 30% | 21%	19% | 41% | 40%	0 | 31% | 69%	0 | 87% | 13%
GoldMinerPulse Metrics - All Metals from All Projects/Deposits and Prices from 2010-Mar-11
Metal Value per Share (MVpSh)						US$25.89
Average Ore Value per Tonne						US$87.43
Metal Value Leverage (MVL)						29.79
Market Capitalization as % of Metal Value						3.4%
Recent Stock Price						C$0.89   (TSX/TSXV close on 2010-03-11.)   Conversion rate used: 1 Cnd$ = 0.976275 US$ )
Fully Diluted Share Count						74.91 M    ( See Share Structure under the corporate tab at the company Web page (viewed November 2009). )
PP% | MI% | I%						30% | 38% | 32%
Silver Metrics-- all Projects/Deposits
Average Silver Ore Grade						86.4 g/t
Market Capitalization     per oz of Silver In Ground						$1.06   US$  |   1.08   C$
Silver Eq Oz Estimate						113.06 M oz   ( 61.60 M oz are in ground)
Market Capitalization     per oz of Silver Equilavent						$0.58   US$  |   0.59   C$
See terms for more about GoldMinerPulse metrics.

GoldMinerPulse Coverage Status:

• GoldMinerPulse coverage of SilverCrest Mines Inc. is complete pending a final internal review.

(NI) 43-101 Report:

Title: TECHNICAL REPORT ON THE CRUZ DE MAYO PROPERTY, SONORA MEXICO
Date: 2007-12-10 (59 pages)

Updates: SilverCrest Resource Summary Page viewed November 2009.

Project Location: Sonora, Mexico

Map View: View the Cruz de Mayo property on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.05	3.67 K oz	0.100 g/t	1.14 M t
Silver	$0.54	2.35 M oz	64.150 g/t	1.14 M t
Estimate notes: SilverCrest Resource Summary Page viewed November 2009. The cut-off grade of 30 g/t Ag was used.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.29	19.50 K oz	0.100 g/t	6.07 M t
Silver	$2.97	12.97 M oz	66.500 g/t	6.07 M t
Estimate notes: See notes for Indicated above. cutOffNotes

(NI) 43-101 Report:

Title: TECHNICAL REPORT ON EL ZAPOTE El Salvador, C.A.
Date: 2004-05-06 (31 pages)

Updates: SilverCrest Resource Summary Page viewed November 2009.

Project Location: , El Salvador

Map View: View the El Zapote Concession on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.17	11.76 K oz	0.190 g/t	1.93 M t
Silver	$2.52	11.00 M oz	177.700 g/t	1.93 M t
Lead	$0.21	6.93 K t	3,600.000 g/t	1.93 M t
Zinc	$0.81	25.99 K t	13,500.000 g/t	1.93 M t
Estimate notes: SilverCrest Resource Summary Page viewed November 2009.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$0.09	6.29 K oz	0.180 g/t	1.09 M t
Silver	$0.81	3.55 M oz	101.600 g/t	1.09 M t
Lead	$0.47	15.64 K t	14,400.000 g/t	1.09 M t
Zinc	$0.12	4.02 K t	3,700.000 g/t	1.09 M t
Estimate notes: See notes for Indicated above.

(NI) 43-101 Report:

Title: TECHNICAL REPORT ON THE PRE-FEASIBILITY STUDY FOR THE SANTA ELENA PROJECT, SONORA, MEXICO (view here)
Date: 2008-08-11 (216 pages)

Updates: SilverCrest Resource Summary Page viewed November 2009.

Project Location: Sonora, Mexico

Map View: View the Santa Elena property on a Google Map.

Most Optimistic Resource Estimates (MORE):

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$5.01	338.63 K oz	1.610 g/t	6.54 M t
Silver	$2.73	11.93 M oz	56.700 g/t	6.54 M t
Estimate notes: SilverCrest Resource Summary Page viewed November 2009. Cutoff grade is 0.5 gpt Au equivalent at a ratio of 64:1 (Ag:Au) with gold price US$765 and silver price US$11.95 and 100% metal recovery for resources.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$2.83	191.09 K oz	2.750 g/t	2.16 M t
Silver	$2.71	11.83 M oz	170.200 g/t	2.16 M t
Estimate notes: See notes for Probable above.

Metal	MVpSh	Contained Metal Quantity	Ore Grade	Ore Quantity
Gold	$1.72	116.30 K oz	1.110 g/t	3.26 M t
Silver	$1.83	7.98 M oz	76.200 g/t	3.26 M t
Estimate notes: See notes for Probable above.