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Wednesday, November 16, 2016

SilverCrest (TSXV: $SIL.V) Announces C$10 Million Bought Deal Financing

SilverCrest (TSXV: $SIL.V) Announces C$10 Million Bought Deal Financing



VANCOUVER, British Columbia - November 16, 2016 (Investorideas.com Newswire) NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.  SilverCrest Metals Inc. (TSXV: $SIL.V) ("SilverCrest" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") led by National Bank Financial Inc. ("NBF") pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 4,550,000 units of the Company (the "Units") at a price of C$2.20 per Unit (the "Issue Price") for gross proceeds to the Company of approximately C$10 million (the "Offering"). Each Unit will consist of one common share of SilverCrest (a "Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share (a "Warrant Share") of SilverCrest at an exercise price of C$3.00. The Warrants will have a term of 24 months from the closing of the Offering.

In addition, SilverCrest has granted the Underwriters an option (the "Underwriters' Option"), exercisable at any time, in whole or in part, until the date that is 30 days following the closing of the Offering, to purchase up to an additional 15% of the number of Units solely to cover over-allotments, if any, and for market stabilization purposes. The Underwriters can elect to exercise the option for Units, Common Shares only, or Warrants only, or any combination thereof.

The net proceeds of the Offering will be used to continue Phase II of the exploration program at SilverCrest's Las Chispas Property and for general corporate purposes.
The Units to be issued under this Offering will be offered by way of a short form prospectus in all of the provinces of Canada, except Quebec.

The Offering is scheduled to close on or about December 6, 2016 and is subject to a number of conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.


ABOUT SilverCrest Metals INC.
SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico’s historic precious metal districts. The Company is led by a proven management team in all aspects of the precious metal mining sector, including the pioneering of a responsible “phased approach” business model taking projects through discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders.  

N. Eric Fier, CPG, P.Eng.
CEO and President
SilverCrest Metals Inc.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:
SilverCrest Metals Inc.
Fred Cooper, Investor Relations
Telephone: +1 (604) 694-1730
Fax: +1 (604) 694-1761
Toll Free: 1-866-691-1730 (Canada & USA)
570 Granville Street, Suite 501, Vancouver, British Columbia V6C 3P1


More info on SIL.V at Investorideas.com: http://www.investorideas.com/CO/SILV/

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Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.



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