Vancouver, British Columbia - August 27, 2020 (Investorideas.com Newswire) SilverCrest Metals Inc. (TSX: SIL.TO; NYSE American: SILV) ("SilverCrest" or the "Company") is pleased to announce it has acquired the El Picacho Property ("Picacho" or the "Property") located near its Las Chispas Project ("Las Chispas") in Sonora, Mexico. The Property was acquired by the Company's subsidiary, Compañía Minera La Llamarada, S.A. de C.V., from American Metal Mining, S.A. de C.V. (the "Vendor", a Mexican company), and an affiliate. The purchase price for a 100% ownership in 11 mining concessions of the Property totalling approximately 7,060 hectares was US$1.6 million (paid to the Vendor). The Company also paid the necessary government taxes to bring these concessions to good standing.

N. Eric Fier, CPG, P.Eng, and CEO, remarked, "We first looked at acquiring Picacho in 2016, after the sale of SilverCrest Mines Inc. (SilverCrest's predecessor) in 2015, as a continuation of our regional exploration program on search of a new district containing multiple precious metal epithermal veins. After 4 years of patience, we have now acquired the next district. The most historic prominent vein in the district, El Picacho Vein, can be easily accessed by a 4 metre by 4 metre underground decline which visually shows the vein underground as approximately 6 metres wide with historic grades and SilverCrest recent sampling results ranging from 350 to 1,000 gpt silver equivalent ("AgEq"*). Historic drill intercepts in this vein's initial high-grade footprint have a weighted average of 4.1 metres grading 618 gpt AgEq* (see attached Figures, Table and Historic Qualification below). We plan on using our 15 years of local experience gained at Santa Elena and Las Chispas to unlock the potential at Picacho. The Company anticipates starting an exploration drill program at Picacho before the end of the year, subject to permitting and minimal disruptions from COVID-19."

Picacho is located approximately 40 kilometres northeast of the Company's Las Chispas Project and depending on drilling success, may be considered as either a standalone mine or a satellite project for additional mill feed to Las Chispas which is currently under development..

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