Day: November 14, 2016

N. Eric Fier, CPG, P.Eng, President & CEO commented, “We continue to gain further access to historic workings and expand our high grade footprint at Las Chispas. The latest results from the ongoing underground rehabilitation are for the historic Varela Mine, which includes bonanza grades of up to 40.9 grams per tonne gold and 610.0 gpt silver or 3,677.5 gpt silver equivalent (“AgEq”, based on 75(Ag): 1(Au) and 100% metallurgical recovery) over 0.3 metres. Our sample results on four levels are showing multiple grades of over 1,400 gpt AgEq. From visual inspection, the Varela Mine has two veins (the Main Vein and the Footwall Vein) and appears to have had less historical production than either the Las Chispas or William Tell veins. The grades mined at Varela may have been below an assumed historic cut-off grade of 1,000 gpt silver. SilverCrest plans on drill testing this target during the ongoing Phase II exploration program.”

Riverside’s President and CEO, John-Mark Staude, stated: “We are very encouraged by the results obtained by the geochemical and geophysical surveys completed to date at the Glor Project. Together with the results of the soil survey and geological mapping, the IP survey has provided us with several attractive drilling targets. We now look forward to results from the rock-channel sampling and recently added trenching program, with plans in place to start drilling next quarter.”

The program is targeting potential sulphide mineralization at depth believed to be underneath and adjacent to, the main zone of mineralization already defined at Sierra Mojada. Deep structures are thought to be the conduits from which the shallow mineralization seen on the project has been emplaced, and are the targets of this program. A number of drill holes have previously intercepted structurally controlled sulphide mineralization such as drill hole “B11144”, which intercepted 8.45 meters at 17% zinc, 5.45% lead, and 60g/t silver starting at 193 meters. In addition, recent underground mapping and sampling identified another area of structurally controlled sulphide mineralization with underground channel samples returning grades up to 690g/t silver, 15.25% zinc, 4.8% lead, and 1% copper.