SilverCrest Mines Announces CAD$30.0 Million Bought Deal Common Share Financing

VANCOUVER, April 27 /CNW/ --
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, April 27 /CNW/ - SilverCrest Mines Inc. (TSXV: SVL) 
('SilverCrest' or the 'Company') is pleased to announce that it has entered into an agreement with a
syndicate of underwriters co-led by Canaccord Genuity Corp. and
Jennings Capital Inc. (the 'Underwriters'), pursuant to which the
Underwriters have agreed to purchase, on a bought deal basis pursuant
to a short form prospectus, 18,750,000 common shares (the 'Common
Shares') of the Company at a price of CAD$1.60 per Common Share for
gross proceeds of CAD$30,000,000 (the 'Underwritten Offering').  In
addition, the Company has granted the Underwriters an option to
purchase additional Common Shares at the Offering price to raise
additional gross proceeds of up to 15% of the Offering (the
'Over-Allotment Option'), exercisable for a period of up to 30 days
after the closing date (the 'Over-Allotment Option', and together with
the Underwritten Offering, the 'Offering').

The Underwriters will receive a cash fee on the sale of the Common
Shares equal to 6% of the gross proceeds raised, and broker warrants
('Broker Warrants') equal to 6% of the Offering. Each Broker Warrant
shall be exercisable for one common share of the Company at a price of
CAD$1.60 at any time up to 24 months after closing.

The proceeds from the Offering are expected to be used by the Company to
finance the commencement of the Santa Elena Expansion Project,
exploration and development of its other properties in Mexico, and for
general working capital and corporate purposes.

Closing of the Offering is anticipated to occur on or before May 17,
2011 and is subject to certain conditions including, but not limited
to, the completion of satisfactory due diligence by the Underwriters
and the receipt of applicable regulatory approvals including approval
of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation
of an offer to buy nor shall there be any sale of any of the Common
Shares in any jurisdiction in which such offer, solicitation or sale
would be unlawful.  The Common Shares have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the 'U.S. Securities Act') or the securities laws of any state of the
United States and may not be offered or sold within the United States
or to, or for the account or the benefit of, U.S. persons (as defined
in Regulation S under the U.S. Securities Act) unless registered under
the U.S. Securities Act and applicable state securities laws or
pursuant to an exemption from such registration requirements.

SilverCrest Mines is a Mexican precious metals producer with
headquarters based in Vancouver, BC. SilverCrest's flagship property is
the 100%-owned Santa Elena Mine, which is located 150km northeast of
Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is
a high-grade, epithermal gold and silver producer, with an estimated
life of mine cash cost of US$8 per ounce of silver equivalent (55:1
Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility
should produce an average of approximately 800,000 ounces of silver and
30,000 ounces of gold per full production year from the open-pit heap
leach operation.

This news release contains forward-looking statements, which address
future events and conditions, which are subject to various risks and
uncertainties.  The Company's actual results, programs and financial
position could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors, some of
which may be beyond the Company's control.  These factors include: the
availability of funds; the timing and content of work programs; results
of exploration activities and development of mineral properties, the
interpretation of drilling results and other geological data, the
uncertainties of resource and reserve estimations, receipt and security
of mineral property titles; project cost overruns or unanticipated
costs and expenses, fluctuations in metal prices; currency
fluctuations; and general market and industry conditions. 
Forward-looking statements are based on the expectations and opinions
of the Company's management on the date the statements are made.  The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements.

    'J. Scott Drever'

J. Scott Drever, President


SILVERCREST MINES INC.

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(AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
RELEASE

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