VANCOUVER - SilverCrest Metals Inc. ('SilverCrest' or the 'Company') is pleased to announce the remaining results from its 2021 infill and expansion drill program at its Las Chispas located in Sonora, Mexico.

Additional drilling in the Babicanora Area for the Babi Vista Vein ('Babi Vista'), Babi Vista Footwall Zone ('Babi Vista FWZ'), Babicanora Norte Hanging Wall Vein ('Babi Norte HW'), El Muerto Zone ('El Muerto'), and El Muerto Hanging Wall Vein are being reported in this release.

Highlights

2021 Infill and Expansion Drilling Program Complete - An estimated US$10.3 M was spent on drilling a total of 109,590 metres in 301 drill holes at Las Chispas in the first ten months of 2021. This includes a total of 102,560 metres in 281 infill and expansion drill holes in the Babi Vista, Babi Vista Splay, Babi Vista FWZ, Babi Norte HW, Granaditas and El Muerto veins, with approximately 80% of the drilling being infill. Since mid-2019, approximately 70% of the drilling completed has been focused on infilling Inferred Resources1.

Drilling to Support Production, Resource Conversion and LOM - Infill drilling in several veins has focused on conversion of an estimated 20 million silver equivalent ('AgEq'2) ounces currently in Inferred Resources contained within 540,000 tonnes grading 7.18 grams per tonne ('gpt') gold ('Au') and 515.7 gpt silver ('Ag'), or 1,140 gpt AgEq. Work is underway to convert Inferred Resources to Indicated for consideration in estimating Reserves and a revised mine plan in an updated technical report planned for H2, 2022. Infill drilling completed in 2021 was critical to de-risking initial mining areas ahead of production and areas where infrastructure was planned to prevent condemnation of potential resources.

Key Target Areas Confirmed and Some Expanded - For the targeted veins and zones, the 2021 infill program reduced drill hole spacing from approximately 55 metres to 30 metres. Overall, it confirmed the grades and approximate footprints of the Inferred Resources as reported in the 2021 Feasibility Study1. Expansion drilling has increased the Babi Norte HW footprint along vein strike from an estimated 250 metres to 550 metres with an estimated average true width of 0.5 metres.

Babi Vista and Babi Vista FWZ Continue to Report High-Grade Intercepts - Infill and expansion drilling confirmed footprints of Babi Vista and Babi Vista FWZ, a recent discovery located between the Babi Vista and Babicanora Norte veins. The most significant high-grade intercepts for this release are: Babi Vista Vein; BV21-379 with 0.45 metres (estimated true width, 'ETW') grading 63.20 gpt Au and 4,999.0 gpt Ag, or 10,491 gpt AgEq, Babi Vista FWZ; BAN21-366 with ETW of 0.40 metres grading 124.00 gpt Au and 6,930.0 gpt Ag, or 17,706 gpt AgEq, and Babi Vista FWZ; BV21-389 with ETW of 0.54 metres grading 72.60 gpt Au and 3,190.0 gpt Ag, or 9,499 gpt AgEq.

ABOUT SILVERCREST METALS INC.

SilverCrest is a Canadian precious metals exploration and development 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's top priority is on the high-grade, historic Las Chispas mining district in Sonora, Mexico, where it has completed a feasibility study on the Las Chispas Project and is proceeding with mine construction. Start-up of production at the Las Chispas Mine is targeted for mid-2022. SilverCrest is the first company to successfully drill-test the historic Las Chispas Property resulting in numerous high-grade precious metal discoveries. The Company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.

FORWARD-LOOKING STATEMENTS

This news release contains 'forward-looking statements' and 'forward-looking information' (collectively 'forward-looking statements') within the meaning of applicable Canadian and United States securities legislation. These include, without limitation, statements with respect to: the strategic plans, timing and expectations for the Company's exploration programs at the Las Chispas Project, the start up of production at the Las Chispas Mine by mid-2022, and an updated technical report in H2, 2022. Such forward looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: impact of the COVID-19 pandemic; the reliability of mineralization estimates, mining and development costs the conditions in general economic and financial markets; availability of skilled labour; timing and amount of expenditures related to rehabilitation and drilling programs and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: uncertainty as to the impact and duration of the COVID-19 pandemic; the timing and content of work programs; results of exploration activities; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project cost overruns or unanticipated costs and expenses and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Contact:

Lindsay Bahadir

Tel: +1 (604) 694-1730

Fax: +1 (604) 357-1313

Email: info@silvercrestmetals.com

Web: www.silvercrestmetals.com

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