SilverCrest Over?Allotment Option Exercised in Full

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TSX-V: SIL    

VANCOUVER, Dec. 14, 2016 /CNW/ - SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce that, in connection with its completed offering of 4,550,000 units of the Company ("Units") at a price of C$2.20 per Unit (the "Issue Price") for gross proceeds of C$10,010,000 on December 6, 2016, the over-allotment option granted to National Bank Financial Inc., PI Financial Corp. and Canaccord Genuity Corp., as underwriters, to purchase up to an additional 682,500 Units (the "Over-Allotment Option") at the Issue Price was exercised in full for additional aggregate gross proceeds of C$1,501,500.

The sale of the additional Units today pursuant to the Over-Allotment Option brings the aggregate gross proceeds to SilverCrest (including the Over-Allotment Option) to C$11,511,500.

Each Unit consists of one common share of SilverCrest (a "Common Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one common share of SilverCrest at an exercise price of C$3.00 until December 6, 2018.  The Warrants were posted for trading on the TSX Venture Exchange on December 9, 2016 under the trading symbol "SIL.WT".

ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals exploration company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico's historic precious metal districts. The Company is led by a proven management team in all aspects of the precious metal mining sector, including the pioneering of a responsible "phased approach" business model taking projects through discovery, finance, on time and on budget construction, and production with subsequent increased value to shareholders. 

N. Eric Fier, CPG, P.Eng.
CEO and President
SilverCrest Metals Inc.

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

SOURCE SilverCrest Metals Inc.