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TSX: SIL | NISE American: SILV
VANCOUVER, BC, November 30, 2022 /CNV/ – SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is proud to announce its inaugural Task Force on Climate Financial Disclosure (“TCFD”) report and corresponding water management report based on the findings of the TCFD report. SilverCrest is also pleased to announce the completion and final permanent connection of its 33 kilovolt (“KV”) electrical transmission line (“Powerline”) for the Company’s Las Chispas mine (“Las Chispas”) located in Sonora, Mexico.
N. Eric FierCEO, noted: “We are pleased that the transmission line is finally complete and fully energized to provide adequate continuous power to Las Chispas. We look forward to concluding a milestone year that included the on-time and budget construction of Las Chispas, the mine ramp and plant, commercial production declaration, debt refinancing and now the release of our inaugural TCFD and Water Management Report. These reports are part of our ongoing commitment to be responsible partners in our communities and to use our resources to continually strive to enrich the lives of our stakeholders.”
Chris RitchieThe chairman commented: “We decided to embrace the TCFD process early in our mining life so that we could understand the risks and opportunities that climate change presents to both our assets and the local communities in which we operate. This process allowed us to learn that water is our biggest climate issue, which encouraged the early development of a meaningful water management strategy. We are excited to work with our local farming and ranching communities to build long-term economic and social resilience.”
U May 2019In 2008, the Company’s Board of Directors established a Safety, Environmental and Social Sustainability Committee (“SESS”) to oversee corporate performance in terms of environmental, social and governance (“ESG”) and sustainability. As of 2020, SilverCrest’s ESG performance is included in the corporate Key Performance Indicators (“KPIs”) and directly relates to team compensation. The company has also established an ESG and climate management structure that extends from corporate headquarters to the operations team in Mexico. Establishing this framework was a critical step for monitoring, managing and disclosing findings, as well as continuously looking for ways to improve.
Transmission line
Comision Federal de Electricidad (“CFE”) has now completed the renovation of a 27 kilometer (“km”) section of its infrastructure and connected it to a 54 km section owned by a subsidiary of the Company. As a result, Las Chispas now has full grid energy at a design capacity of 7.6 megawatts (“MW”). The newly renovated line is also expected to improve the stability and reliability of the system. As a related benefit, the electric line replaces temporary diesel power generation with subsequent positive environmental impacts.
“We are happy that we now have a full power grid with a capacity of 7.6MW which is expected to last my lifetime.” We are also pleased with the implementation of our contingency plan, which ultimately helped to avoid material impacts on construction, commissioning or metal sales,” he commented. Pierre BeaudoinCOOING.
Highlighted in the TCFD report:
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Engaged a third-party consultant to conduct a physical and transition climate risk assessment to identify key climate risks facing the Company as well as our local communities.
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Findings from the TCFD report, consultation with government agencies and third-party reports identified water as a key climate-related risk for the Company’s community, given that the area relies heavily on agriculture and livestock for livelihoods.
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The climate risk assessment concluded that the three primary climate-related hazards are extreme heat, drought and flooding. In addition, the climate models used emphasize water scarcity in the region and predict that droughts will increase in severity and frequency.
As a result of the findings, the Company and SESS Committee set out to develop a water management strategy to address vulnerabilities and opportunities. The Water Management Report provides a self-contained in-depth look at the water issues facing the community and shares the work, investments and progress being made on climate and water risks.
Featured Water Management Reports:
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Key operational metrics for the Las Chispas operation were established.
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The farming and ranching community relies heavily on aging and deteriorating infrastructure that has become extremely vulnerable.
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The first water management plan was developed as a five-year plan during which the Company initially committed to invest in total 1.5 million dollars during 2022-2026.
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The key priorities identified were (1) to ensure efficient transport of water from the river to aqueducts serving farmers and ranchers, (2) upgrading gravel aqueducts for efficient delivery so farmers can connect water to their fields, (3) repairing the sewer system in the community and (4) work to register the community for water concessions to become eligible for funding for future projects at the state and federal levels.
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In 2022, SilverCrest’s community efforts included refurbishing water intake valves, upgrading 1 km of aqueduct (Bamori and Arizpe, Sonora), the construction of 235 meters of gabions to protect the aqueduct in Arizpe and 272 meters of underground pipes for the water intake valve, replacement of 800 meters of sewage in Mr. Arizpe and starting work on community registration for water permits.
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In the period from 2023 to 2026, the company plans to work on replacing the sewage system in Arizperenovate aqueducts and work with local and state governments to identify and address projects that will benefit the community.
2023 will be SilverCrest’s first full year of production and will serve as the company’s baseline year in terms of ESG-related performance tracking and disclosure. The management system created aims to effectively help track and disclose this key data so that we can work towards continuous improvement.
You can access the full reports at https://silvercrestmetals.com/sustainability/reporting where a PDF download is available in English.
ABOUT SILVERCREST METALS INC.
SilverCrest is a Canadian precious metals exploration and production company headquartered in Vancouver, BCwhich is focused on new discoveries, value-added acquisitions and production assets in Mexico historical areas of precious metals. The main focus of the company is the management of the Las Chispas mine, in Sonora, Mexico. SilverCrest’s ongoing initiative is to grow its asset base by expanding current resources and reserves, acquiring and developing high-value precious metals projects, and ultimately operating multiple silver and gold mines in the Americas. The company is led by a proven management team in all aspects of the precious metals mining sector, including taking projects through discovery, financing, on-time and on-budget construction and production.
FORWARD-LOOKING STATEMENTS
This release contains “forward-looking statements” and “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian and America securities legislation. This includes, without limitation, statements regarding the timing, cost and completion of the Company’s ESG projects between 2023 and 2026. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions are made regarding, among other things: conditions in the general economic and financial markets; availability of qualified labor force; the timing and amount of expenditures related to ESG programs; and the effects of regulation by government agencies. Actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: uncertainty regarding the impact and timing and content of work programs; environmental and other regulatory risks; project cost overruns or unforeseen costs and expenses; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management as of the date the statements are made. The assumptions used in the preparation of such statements, although believed to be reasonable at the time they were made, may prove to be inaccurate and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which the statements are made. . The Company undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances change, except as otherwise required by applicable law.
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SOURCE SilverCrest Metals Inc.
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