SilverCrest Metals Announces Completion of Arrangement and TSX Venture Exchange Listing

VANCOUVER, Oct. 7, 2015 /CNW/ - SilverCrest Metals Inc. ("SilverCrest Metals" or the "Company") is pleased to announce the completion of an arrangement (the "Arrangement") that established SilverCrest Metals as a separate company spun off from SilverCrest Mines Inc.  SilverCrest Metals has now received final approval for the listing of the common shares of SilverCrest Metals ("SilverCrest Metals Shares") on the TSX Venture Exchange with trading to commence at market opening on October 9, 2015 under the symbol "SIL".  The CUSIP number for SilverCrest Metals Shares is 828363101 and the ISIN number is CA8283631015.

The Arrangement was effected pursuant to an arrangement agreement dated July 26, 2015, as amended, among SilverCrest Metals, SilverCrest Mines Inc. ("SilverCrest Mines") and First Majestic Silver Corp. ("First Majestic").  Under the Arrangement, 19,952,024 SilverCrest Metals Shares were issued to SilverCrest Mines for distribution to the former shareholders of SilverCrest Mines (at an exchange ratio of 0.1667 of a SilverCrest Metals Share for one common share of SilverCrest Mines) and 2,192,727 SilverCrest Metals Shares were issued to First Majestic.  As a result, there are a total of 22,144,751 outstanding SilverCrest Metals Shares owned as to 90.1% by former shareholders of SilverCrest Mines and as to 9.9% by First Majestic.

In consideration for the issuances of the SilverCrest Metals Shares under the Arrangement, SilverCrest Mines transferred to SilverCrest Metals the Cruz de Mayo, Las Chispas, Angel de Plata, Huasabas and Estacion Llano exploration properties located in northern Mexico, as well as Cdn$5.25 million in cash and certain other assets owned by SilverCrest Mines, and First Majestic transferred to SilverCrest Metals its Guadalupe exploration property located in Durango, Mexico.

The Company's current material property is the Cruz de Mayo exploration property.  A Technical Report entitled "Mineral Resource Estimate for the Cruz de Mayo Property, Sonora, Mexico" effective August 15, 2015, as amended September 15, 2015, pertaining to the Cruz de Mayo Property (the "Technical Report") was commissioned by and prepared for SilverCrest Mines and SilverCrest Metals by James Barr, P.Geo., on behalf of Tetra Tech EBA Inc. in compliance with National Instrument 43‑101 ("NI 43‑101").  Mr. Barr is a "Qualified Person" and considered "independent" as both those terms are defined in NI 43‑101.  A copy of the Technical Report is available under SilverCrest Metals' profile at www.sedar.com.

Material transaction documents relating to the Arrangement and the TSX Venture Exchange Form 2B Listing Application are also available under the Company's profile at www.sedar.com.

The directors and officers of SilverCrest Metals were previously the directors and/or officers of SilverCrest Mines immediately prior to the completion of the Arrangement.  N. Eric Fier is President and Chief Executive Officer and Barney Magnusson is Chief Financial Officer of SilverCrest Metals.

SilverCrest Metals Inc. (TSX‑V: SIL) is a Canadian precious metals exploration company headquartered in Vancouver, BC.

SILVERCREST METALS INC.
"N. Eric Fier"
N. Eric Fier, President and CEO

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

SOURCE SilverCrest Metals Inc.

SilverCrest Metals at 1-866-691-1730 or via its website at www.silvercrestmetals.com.