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In addition, shareholders of Silver Crest will receive shares in a newly formed firm which will hold certain exploration assets currently held by Silver Crest and First Majestic.

As per the transaction, First Majestic will issue approximately 32.8 million common shares, valuing Silver Crest's equity at approximately C$154 million, based on current closing prices. Prestige Lakeside Habitat Following the completion of the transaction, the current shareholders of Silver Crest will hold approximately 21% of the issued and outstanding shares of First Majestic.

The Arrangement will as well as provide for the issuance by First Majestic of an aggregate of approximately 2.9 million replacement stock options the Replacement Options assuming no exercise of existing Silver Crest options to Silver Crest option holders who do not exercise such options prior to the effective time of the Arrangement, at exercise prices adjusted by the Exchange Ratio.

In connection with the Arrangement, each Silver Crest shareholder will as well as receives 0.1667 common shares of Latest Silver Crest for each Silver Crest common share held.

The Arrangement Agreement includes customary provisions, including non-solicitation of alternative transactions, right to match superior proposals and fiduciary-out provisions. In addition, Silver Crest has agreed to pay a termination fee to First Majestic of C$8 million upon the occurrence of certain events. First Majestic and Silver Crest have each agreed to pay a C$1 million expense reimbursement fee to the other party upon termination of the Arrangement Agreement due to the occurrence of certain other events.

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Canadian precious metals producer headquartered in Vancouver, BC. Silver Crest's flagship property is the 100%owned Santa Elena Mine, located 150 kilometres northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. Prestige Lakeside Habitat Bangalore The mine is a high grade, epithermal silver and gold producer, with a current reserve estimated life of mine of 8 years and average operating cash costs of $12 per ounce of silver equivalent Silver Crest anticipates the 3,000 tonnes per day conventional mill facility at the Santa Elena Mine should recover an average of 1.6 million ounces of silver and 33,800 ounces of gold per annum over the current reserve life. Exploration programs continue to result in discoveries at Santa Elena and have advanced the definition of a large poly metallic deposit at the La Joya property in Durango State, Mexico. The share price of SILVER CREST MINES INC has not done very well: it is down 12.36% and has under performed the S&P 500, in part reflecting the company's sharply declining earnings per share when compared to the year-earlier quarter. Looking ahead, other than the push or pull of the broad market, we do not see anything in the company's numbers that may help reverse the decline experienced over the past 12 months. Despite the past decline, the stock is still selling for more than most others in its industry.