File Earnings, Treasury Belongings Greater by means of 34% All over the Quarter

TSX: SIL | NYSE American: SILV

VANCOUVER, BC, July 11, 2024 /PRNewswire/ – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is happy to serve meantime operational effects for the second one quarter of 2024 (“Q2, 2024”) from the Corporate’s Las Chispas Operation situated in Sonora, Mexico. All quantities are expressed in U.S. greenbacks, until differently famous. Sure quantities proven on this information shed won’t general to actual quantities because of rounding variations.

Q2, 2024 Running Highlights

• Recovered 15,303 oz (“oz”) gold and 1.46 million oz silver, or 2.68 million silver an identical (“AgEq”)¹ oz.
• Bought 14,500 oz gold and 1.45 million oz silver, or 2.60 million AgEq oz.
• Generated report income of $72.7 million with moderate discovered worth of $2,237/oz. gold and $27.84/oz. silver, worth will increase of 8% and 19% respectively from Q1, 2024.
• Ended the quarter with treasury property of $122.3 million, together with $98.3 million money and $24.0 million bullion.

N. Eric Fier, CEO commented, “We are pleased to deliver another strong quarter in regards to production, grades and recoveries at the Las Chispas Operation. Sales in the first half of 2024 of 5.19 million AgEq ounces position us well to deliver on our 2024 annual sales guidance of 9.8 to 10.2 million ounces AgEq. Silver equivalent processed grades of 765 grams per tonne and recoveries of 98.4% tracked above plan, with silver recoveries setting another record for the operation. This, combined with substantial increases in gold and silver prices in the quarter, drove record revenues and a return to growth of treasury assets in the quarter, despite planned higher sustaining capital expenditures. Also, during the quarter our bullion holdings grew 20% to $24.0 million through the addition of 400 ounces of gold and increased metal prices. Treasury assets increased 34%, to total $122.3 million at the end of the quarter, including $98.3 million in cash. We continue to benefit from having two mining contractors at site, with our financial strength allowing for greater operational flexibility in the ramp-up, including continued management of our stockpiles. We look forward to providing more details of our operational and financial performance in early August.”

Q2, 2024 Operational Highlights

Q2, 2024 Convention Name

The Corporate’s unaudited condensed meantime consolidated monetary statements for the 3 and 6 months ended June 30, 2024 will likely be exempt upcoming marketplace on August 7, 2024.

A convention name to talk about the Corporate’s Q2, 2024 operational and fiscal effects will likely be held Thursday, August 8, 2024 at 8:00 a.m. PT / 11:00 a.m. ET. To take part within the convention name, please dial the numbers under.

Generation & Week: Thursday August 8, 2024 at 8:00 a.m. PT / 11:00 a.m. ET

Phone:     North The usa Toll Sovereign: 1-800-274-8461
                      Convention ID: SILVER (745837)

Webcast:       https://silvercrestmetals.com/investors/presentations/

Certified Individuals Commentary 

The Certified Individual underneath Nationwide Device 43-101 Requirements of Disclosure for Mineral Initiatives for this information shed is N. Eric Fier, CPG, P.Eng, CEO for SilverCrest, who has reviewed and authorized its contents.

ABOUT SILVERCREST METALS INC.

SilverCrest is a Canadian valuable metals manufacturer headquartered in Vancouver, BC.  The Corporate’s fundamental focal point is its Las Chispas Operation in Sonora, Mexico.  SilverCrest has an ongoing initiative to extend its asset bottom by means of increasing tide assets and reserves, obtaining, finding, and creating top price valuable metals tasks and in the long run working a couple of silver-gold mines within the Americas.  The Corporate is led by means of a confirmed control staff in all facets of the valuable steel mining sector, together with taking tasks thru discovery, finance, on age and on funds development, and manufacturing.

FORWARD-LOOKING STATEMENTS

This information shed incorporates “forward-looking statements” and “forward-looking information” (jointly “forward-looking statements”) throughout the which means of acceptable Canadian and United States securities law. Those come with, with out limitation, statements with recognize to: the volume of age manufacturing of gold and silver over any length; the strategic plans and expectancies for the Corporate’s operation and exploration program; operating capital necessities; anticipated healings; anticipated money prices and outflows; and the timing of shed of the Corporate’s unaudited condensed meantime consolidated monetary statements for the 3 months and 6 months ended June 30, 2024. Such forward-looking statements or knowledge are in keeping with quite a lot of suppositions, which would possibly end up to be fallacious. Suppositions had been made referring to, amongst alternative issues: provide and age trade methods; persisted industrial operations on the Las Chispas Operation; the condition during which the Corporate will perform going forward, together with the cost of gold and silver; estimates of capital and working prices; manufacturing estimates; estimates of mineral assets, mineral reserves and metallurgical healings and mining operational possibility; the reliability of mineral useful resource and mineral keep estimates; mining and construction prices; the statuses normally financial and fiscal markets; availability of professional labour; timing and quantity of expenditures indistinguishable to exploration methods; and results of law by means of governmental businesses and adjustments in Mexican mining law. The original effects may just range materially from the ones expected in those forward-looking statements on account of possibility elements together with: the timing and content material of labor methods; result of exploration actions; the translation of drilling effects and alternative geological knowledge; receipt, repairs and safety of lets in and mineral trait titles; environmental and alternative regulatory dangers; mission price overruns or unanticipated prices and bills; fluctuations in gold and silver costs; and common marketplace and trade statuses. Ahead-looking statements are in keeping with the expectancies and evaluations of the Corporate’s control at the presen the statements are made. The suppositions impaired within the preparation of such statements, despite the fact that thought to be affordable on the age of preparation, would possibly end up to be vague and, as such, readers are cautioned to not playground undue reliance on those forward-looking statements, which discuss best as of the presen the statements have been made. The Corporate undertakes deny legal responsibility to replace or revise any forward-looking statements integrated on this information shed if those ideals, estimates and evaluations or alternative instances will have to trade, except for as differently required by means of acceptable regulation.

SOURCE SilverCrest Metals Inc.