VANCOUVER, B.C. November 30, 2009
– SilverCrest Mines Inc. (“SilverCrest”) (TSX-V: SVL) is pleased to
announce that it has received the US$12 million advance purchase payment under the definitive gold purchase
agreement (the “Agreement”) with Sandstorm Resources Ltd. (“Sandstorm”) (TSX-V: SSL).
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.
J
