Corporate Presentation | March 2020

“Doing it Again”

Cautionary Statements Forward-looking statementsThis presentation contains “forward‐looking statements” and “forward-looking information” (collectively “forward-looking statements”) within themeaning of applicable Canadian and United States securities legislation. These include, without limitation, statements with respect to: the economicsand project parameters presented in the PEA, including IRR, AISC, NPV, and other costs and economic information; possible events, conditions orfinancial performance that is based on assumptions about future economic conditions and courses of action; the strategic plans, timing, costs andexpectations for the Company’s future development and exploration activities on the Las Chispas Property, including construction of the Area 51decline, metallurgical test, mineralization and resource estimates and grades for drill intercepts, permitting for various work, and optimizing andupdating the Company’s resource model and preparing a feasibility study; information with respect to high grade areas and size of veins projectedfrom underground sampling results and drilling results; and the accessibility of future mining at the Las Chispas Property. Assumptions have beenmade regarding, among other things: the reliability of mineralization estimates, the conditions in general economic and financial markets; availabilityand costs of mining equipment and skilled labour; accuracy of the interpretations and assumptions used in calculating resource estimates; operationsnot being disrupted or delayed by unusual geological or technical problems; ability to develop and finance the Las Chispas Project; and effects ofregulation by governmental agencies. The actual results could differ materially from those anticipated in these forward‐looking statements as a resultof the risk factors set forth below and elsewhere in this presentation: fluctuations in precious metals prices, price of consumed commodities andcurrency markets; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that developmentactivities will result in profitable mining operations; risks related to mineral resource figures being estimates based on interpretations andassumptions which may result in less mineral production under actual conditions than is currently estimated; the interpretation of drilling results andother geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costoverruns or unanticipated costs and expenses; and general market and industry conditions. The assumptions used in the preparation of suchstatements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to placeundue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes noobligation to update or revise any forward-looking statements included in this presentation, except as otherwise required by applicable law.

Preliminary Economic Assessment (“PEA”)The Company cautions that the results of the PEA are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them to be classified as mineral reserves. There is no certainty that the results of the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Qualified PersonsUnder National Instrument 43-101 - Standards of Disclosure for Mineral Projects, the Qualified Person for this presentation is N. Eric Fier, CPG, P.Eng.and CEO for SilverCrest Metals Inc., who has reviewed and approved its contents.

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N. Eric Fier, CPG, P.Eng, CEO, Director (30+ years experience, Geological & Mining Engineer)Exploration, Operations, Project Evaluation & Management. Previously with SilverCrest Mines, Newmont Mining, EldoradoGold, Pegasus Gold Corp. Currently Executive Chairman and COO for Goldsource Mines Inc. Involvement in exploration,feasibility, finance, construction and operations of numerous successful mines including Santa Elena in Sonora, Mexico.

Chris Ritchie, MBA, President (15+ years experience, Capital Markets & Risk Management)Resource-based capital markets experience, including capital raising, marketing, corporate strategy and risk management.Chris has been a key advisor to SilverCrest 1.0 and 2.0 through his recent roles at National Bank and Canaccord Genuity.

Pierre Beaudoin, COO, (30+ years experience, Operating & Project Development and Mineral Processing)

Before SilverCrest, Pierre worked as the COO for Detour Gold until 2017, where he led the design and construction of theDetour Lake Mine. Prior to that, he spent 16 years with Barrick, including but not limited to the Capital Projects Group.

Anne Yong, CPA, CA, CFO (10+ years experience, Assurance, Financial Reporting & Compliance)Prior to her role as CFO & Controller with the SilverCrest, she was the Corporate Compliance and Disclosure Officer ofSilverCrest Mines. During her seven years with a Vancouver CPA firm, she primarily serviced reporting issuers listed on theTSX and TSXV. She also successfully completed a 13-month secondment with the BCSC as a Securities Analyst.

Nicholas Campbell, Executive VP, Business Development (15+ years experience, Finance & Corporate Valuation)Responsible for the implementation and execution of all aspects to the Company’s business development opportunities.His experience includes 10 years in capital markets as a mining analyst. He’s also currently the CFO of Goldsource Mines.

S. Rosy Fier, CPG, VP, Exploration & Technical Services (10+ years experience, Geological & Mining Engineer)Recently lead the SilverCrest Team to the discovery of the high-grade precious metal vein system at Las Chispas in Sonora,Mexico. Previously with SilverCrest Mines as exploration manager, construction supervisor, and production engineer.

Board of DirectorsGraham C. Thody, CPA, CA, Non-Executive Chairman, Director (30+ years experience, Finance/Accounting)John H. Wright, P.Eng, Director (40 years experience, Metallurgist) Hannes Portmann, CPA, B.Sc., Director (16 years experience, Capital Markets/Accounting/Mining Engineering) Ross O. Glanville, P.Eng, MBA, CPA, CGA, Director (40 years experience, Mining Engineer)Ani Markova, MBA, CFA, CDI.D, Director (20+ years experience, Capital Markets/financial analysis)

Management Team

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(1) Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 as amended July 19, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement. (2) AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold.(3) Exploration costs incurred on the Las Chispas Project as reported on the Company’s March 31, 2019 financial statements, available the SilverCrest website or on SEDAR. US$ conversion rate used: 1 CAN$ = 0.75 US$. (4) Cumulative cash from capital stock issued less cash balance of US$ 93 M as of Jan 010, 2020. US$ conversion rate used: 1 CAN$ = 0.75 US$.

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Drilling Success/ Drilling Leverage12 drill rigs turning. PEA discovery cost of ~ US$ 0.28 per AgEq(2) ounce(3)

2020 plans for an ~US$16 million, 125,000 m exploration drill program

De-Risking Underway Major permits in hand, strong social license, significant financing progress

Access to area 51: Stockpiling of high-grade mineralization from multiple working faces

Experienced Team With A Proven Track RecordN. Eric Fier, CEO – built six mines including Santa Elena ~25km away

Pierre Beaudoin, COO – Designed and built Canada’s largest gold mine

Impressive “Base Case” Potential Economics (1)

After-tax NPV (5%): US$406M After Tax-IRR of 78% (US$16.68/oz Ag & US$1,269/oz Au)Average post tax annual net free cash flow: US$115 M (for years 1-4). Payback: ~9 months

Building on a Track Record of Success

Strong Cash Position/ Reasonable Cash RequirementsUS$87 M as of Feb 28 2020 NR: Capex: US$100 M(1)

NPV/ capex: US$406 M/US$100 M (US$16.68/oz Ag & US$1,269/oz Au, Base Case)

Efficient Use of Shareholder Capital~ 4.5 US$ of EV created for every US$1 invested

US$94 M (4) spent as of Feb, 2020. Current market cap: US$764M

❖ Significant Leverage to the Drill Bit❖ PEA Resource† based on 10 of 36 known veins❖ 25+ km of untested strike length❖ 3 significant discoveries (Area 118, Babi Vista Vein, Area 200) in last 6

months

❖ Low Capex, Low Cost, High Free Cash Flow Potential(1)

❖ PEA(1) capex of US$100m • Sub 1 year payback at US$1,100 Au and US$14.00 Ag• Market cap to capex ratio of ~ 5.1 to 1 US$

❖ AISC (PEA) of US$4.89 per AgEq oz for first 4 years of production❖ US$115m FCF (PEA) per year for first 4 years of production

❖ Strong Catalyst Pipeline❖ Drill Results from 2019 and 2020 outstanding ❖ On going drilling - 12 drill rigs currently turning ❖ Potential index inclusions – GDXJ and TSX composite ❖ Updated Resource/Initial Reserve and Feasibility Study (FS) on track for

completion in late H1, 2020❖ Project Financing ❖ Potential construction decision in Q3, 2020“SilverCrest’s vision is to Again

become a successful precious metals producer!”

N. Eric FierCPG, P.Eng, CEO

*AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold.

† Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement

(1) Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 as amended July 19, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement.

Why SilverCrest Metals

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PEA(1) Gold and Silver Sensitivities(March 17 , 2020, Ag was 12.80 US$/oz & Au was 1,517 US$/oz Au)

Parameter Downside Base Case Upside

Gold (US$/oz) 1,100 1,269 1,450

Silver (US$/oz) 14.00 16.68 19.00

Economic Results (After-Tax)

NPV 5% (US$ M) 301.0 406.9 506.5

IRR 64% 78% 91%

Payback period in months 10.9 8.8 7.4

Undiscounted LOM Free Cash Flow (US$ M) 390.4 522.5 646.6

Strong Defense and Offense

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Offense ❖ Significant leverage to the drill bit - 12 rigs turning.

❖ Potential re-rate into production – PEA(1) economics suggests strong free cash flow potential.

❖ 26 Veins not in resource. ~ 25 km in strike length untested + depth potential.

Defense❖ Margin and FCF protection at lower commodity prices.

❖ NPV to capex at 3:1x assuming $1100 /oz Au $14.00/oz Ag.

❖ Major permits in place, low Capex, strong social license.

(1) Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 as amended July 19, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement.

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SilverCrest Metals Inc. (NYSE:SILV) - VolumeSilverCrest Metals Inc. (NYSE:SILV) - Share PricingVanEck Vectors ETF Trust - VanEck Vectors Junior Gold Miners ETF (ARCA:GDXJ) - Share Pricing

Capital Structure (as of March 17, 2020)

Issued & Outstanding 110.1 M

OptionsIncluding 625k $0.16 option (exp. 9-Dec-2020)

7.9 M

Warrants - 50 K at C$4.03, expire Jan. 10, 2021 0.05 M

Fully Diluted 118 M

Share Price US$ 4.64

Market Capitalization (US$ million) 510

Cash on hand (US$ million)* 87

**Average daily market value (3 months)US$ million – as of March 6 2020

9.3

H1 Budget (US$ million) 30

* As of Feb 27, 2020**Based on both American: NYSE and Canadian: TSX.T Alpha – A, Chi-X – X, CX2 – H, Pure – P, Omega – O, TriAct – M, Lynx – Y, NEO ATS - U listing (as of Dec 31, 2019)Trading on the TSX Exchange as of August 29, 2019

• Gilder Gagnon• SSR Mining• Donald Smith• Fidelity• Oppenheimer• Tocqueville• Ninepoint Partners• RBC Asset Mgmt• 1832• Picton• Merk• Equinox

SSR Mining8.5%

Officers and Directors

11.7%

Institutional Holdings57.3%

SSR Mining7.6%

Retail23.3%

Ownership, Fully Diluted

Corporate Structure

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NYSE:SILV vs GDXJ

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SilverCrest Metals Inc. (TSX:SIL) - Volume SilverCrest Metals Inc. (TSX:SIL) - Share Pricing Money Raises

i) C$10.0 M at

C$1.05 per share

ii) C$ 17.2 M at

C$2.10 per Share

Financing History

iii) SSRM strategic

investment: C$30.6 M

at C$3.73 per Share

iv) C$29.8 M at

C$5.85 per Share,

including SSRM

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v) C$92 M at

C$7.28 per Share

vi) SSRM

participation right:

C$13.2 M at C$7.28

per Share

*Market cap as per Feb 27 2020(1)AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S. $1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold. (2)Exploration costs incurred on the Las Chispas Project as reported on the Company’s March 31, 2019 financial statements. This cost will increase post PEA and change when we release our FS in Summer 2020(4) Cumulative cash from capital stock issued less cash balance of US$ 93 M as of Jan 010, 2020. US$ conversion rate used: 1 CAN$ = 0.75 US$.

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5,000,000

H1 2018 H2 2018 H1 2019 H2 2019

ADV in USD

Capital Efficiency

• Current Enterprise Value* (EV) of ~ US$423 m;

• ~US$ 4.5 of EV created for every US$1 invested

• ~US$154 M capital raised since inception

• ~ US$ 87 m in cash

• US$94 m spent as of Feb 28, 2020

• Discovery cost of ~ US$ 0.28 per AgEq(1) ounce(2)

• AISC of US$4.86 /oz of AgEq – first 4 years of PEA

(TSX:MOZ)

(TSX:SIL)

(TSX:LUG)

(TSXV:VIT)

(TSX:OSK)

(TSX:GSV)

(TSX:NGD)(TSXV:BTR)

(TSXV:ITR)

(NYSE:MUX)

(TSXV:PGM)

(TSXV:RIO)

(TSX:NDM)

(TSX:RNX)

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Cap

CAN$ Raised (Million)

Money Raised vs Performance (MKT Cap) in 2019

Improving Liquidity (Average Daily Volume)

• H1 2018 ADV = $290,281 USD

• H2 2018 ADV = $648,241 USD

• H1 2019 ADV = $1,164,444 USD

• H2 2019 ADV = $4,324,673 USD

Capital Efficiency & Liquidity

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LOM

Ave AgEq Grade g/t

714

Ave Annual Ag Oz Produced

5.3 M

Ave Annual Au Oz Produced

55.7 K

Ave Annual AgEq Oz Produced

9.6 M

LOM AISC (US$/Oz AgEq*)

7.52

Cumulative After-tax FCF

US$ 737.5 M

Years 1-4

Ave AgEq Grade g/t

1,027

Ave Annual Ag Oz Produced

7.6 M

Ave Annual Au Oz Produced

81.6 K

Ave Annual AgEq Oz Produced

13.7 M

AISC (US$/Oz AgEq*)

4.89

Average Annual After-tax FCF

US$ 135 M

Initial Capex: US$100.5 MLOM Sustaining

Capex: US$50.3 M

Payback period: 7 months

Total Contained AgEq*Oz:88.7M§

PEA Summary Exceptional Economics+

Throughput: 1,250 tonnes/dayMine life: 8.5

PEA “Upside Case” Sensitivity

Silver Price : 19.00 US$/ ozGold Price : 1,450 US$/ oz

Silver recovery : 89.9 %Gold recovery: 94.4 %

Total Operating Cost: 98.66 US$/tAfter-tax NPV (5%): US$506.9 M

After-tax IRR: 91%After-tax IRR at US$1,100 Au,

US$14 Ag: 64 %

*AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold.

§Contained ounces for gold and silver are estimated to include 29% indicated resources and 71% inferred resources+Please review section titled “Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statements.

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silver gold AISC (US$)/ AgEq* oz Grade est. (AgEq)

PEA Summary -Annual Payable Production+

*AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold. +Please review section titled “Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statements.

11

Silver Price : 19.00 US$/ozGold Price : 1,450 US$/oz

Years 1-4: Ave Annual AgEq Oz Produced = 13.7 MAISC (US$/Oz AgEq*) = 4.89

Annual Post-taxFCF(US$) “upside” 162.71 126.71 144.76 109.12 83.45 50.58 26.16 29.32 4.67

August 2016

14 Years of Experience in Sonora, Mexico

Historic Las Chispas District (SIL)

Discovered, built and operated Santa Elena – Doing it again with Las Chispas

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Underground Development Underway High-Grade Stockpile ❖ Access to Babicanora Vein, Area 51 zone

❖ 1,300 m of development completed ❖ In-Vein drifting (660 M);

❖ Level 1111 -> 270 M❖ Level 1096 -> 300 M❖ Level 1081 -> 90 M

❖ Access to Babicanora Norte Vein❖ 425 m completed to date❖ Distance to access Area 200 1-1.5 km

❖ Access to Babicanora Vein, Central zone

❖ 420 m completed to date❖ Growing stockpile in 2020

❖ 24,000 tonnes stockpiled in 2019❖ 175,000 historical tonnes @ 222 gpt AgEq

Santa Rosa Portal, Access to High-Grade Babicanora Vein, Area 51 zone

Babi Central (Historic) Portal

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Underground at Babicanora Area

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Stockpiling helps manage risk

• ~200,000 tonnes currently stockpiled

– ~175,000 historical tonnes

– ~30,000 new tonnes from underground

• 1,250 tonnes per day mill – 456,000 tonnes per year

Benefits from being in-vein

• Understand nugget effect of high-grade

• Better estimation of mine dilution

• Increase understanding of mining methods

• Better understanding on vein continuity and grade

• Metallurgy

• Ground control

• Optimizing process flow sheet

De-Risking with Development

Babicanora Area Plan Map - March 2020

Area 118 zone300m by 125m by 1.6m*

3,078 gpt AgEq**

Area 200 zone500m by 125m by 1.5m*

3,387 gpt AgEq**

Area 51 zone20.9M oz AgEq, 1,393 gpt***

Indicated Resource (March 2019)

Recent Significant Discoveries

Area 200

Area 51

Babi Vista400m by 150m by 1.2m*

2,486 gpt AgEq**

Babi Vista400m by 150m by 1.2m*

2,486 gpt AgEq**

2020 Drill Target

BabicanoraArea

Las Chispas

Area

A

A’

Santa Rosa Portal

**AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$17.00 per ounce silver and US$1,225 per ounce gold, with average metallurgical recoveries of 90% silver and 95% gold.

Babi Central Portal

*High-grade footprint, vein strike length by height by est. true width, refer to news releases Feb. 25, 2019, Nov. 14, 2019, Nov. 21, 2019, and Feb. 18, 2020.

Las Chispas District Plan Map

***466,000 tonnes at 7.90 gpt Au and 801 gpt Ag from March 2019 Technical Report .

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Significant Discoveries & New Drill targets

Babicanora Norte Vein + Area 200 PEA(1) defined resource:• Inf: 12.5 m oz AgEq (0.28m tonnes)

with avg grade 1,395 gpt AgEq (8.21 gpt Au and 780 gpt Ag)

• Ind: 8.6 m oz AgEq (0.13m tonnes) with avg grade 2,047 gpt AgEq (11.57 gpt Au and 1,180 gpt Ag)

• 125 m in height and 900 m strike• Recent news suggests mineralization

over 2+ km• 2 drill rigs turning

Area 200:• avg. 1.5 m true width grading

3,375 gpt AgEq, 39 holes• 500 m long by 125 m high

Prioritized in

Q4 2019, 2020 expansion

target

17(1) Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 as amended July 19, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement.

Area 200

A’

A

High-grade Stockpile Santa Rosa Portal & Decline

Proposed Processing Facilities

Administration

Babicanora Area, Looking Southeast

High-grade 125m below portal entryB B’

Photo location

Babicanora Norte Vein

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Legend (Feb. 2020)Current NR Reported DHCurrently DrillingProposed DHAssays PendingCompleted DH Pierce pt.

Projected UG Workings

High Grade Footprint

Long Section (Inclined) of Babicanora Norte (BAN) Vein Looking Southwest

150m

*AgEq based on 75 (Ag):1 (Au) calculated using long-term

silver and gold prices of US$17.00 per ounce silver and US$1,225 per ounce gold, with average metallurgical

recoveries of 90% silver and 95% gold.

0m 300m

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1000masl--1000masl

PEA Stope design outline

Insert 1 – Area 200 ZoneInsert 2 – BAN Central

Insert 3 – BAN NW

Santa Rosa PortalBabi Central Portal

A A’

BAN U/GDevelopment (projected)

Est. 1,200m Strike Length (March 2019 Resource Estimate)

Est. 2,000m Strike Length (Feb. 2020)

Discovery Hole BAN19-200, 2.0m @ 39.27 gpt Au and3472.5 gpt Ag, or 6,418 gpt AgEq*

Babicanora Area 3D

Looking NW

Babicanora Footwall Vein

Babicanora Vein 0

m200m

Babicanora Norte Vein

Babi Vista Vein

Babicanora Hangingwall

Vein Babicanora Norte

Footwall VeinBabicanora

Norte Area 200

Babicanora Norte Hangingwall Veins

1000masl

Babicanora Norte Vein

BAN19-182188.9 to 191.6m

at 3,130 gpt AgEq

BAN19-213292.6 to 295.6m at 9,006 gpt AgEq

BAN19-223314.6 to 316.0m at 4,613 gpt AgEq

BAN20-258279.0 to 284.4m at 1,744 gpt AgEq*

BAN19-209214.6 to 215.6m

at 3,169 gpt AgEq

BAN20-243253.5 to 255.5 m

at 13,345 gpt AgEq

BAN19-137118.9 to 119.4m

at 19,684 gpt AgEq

*AgEq based on 75 (Ag):1 (Au) calculated using long-term

silver and gold prices of US$17.00 per ounce silver and US$1,225 per ounce gold, with average metallurgical

recoveries of 90% silver and 95% gold.

Insert 1 - Long Section (Inclined) Babicanora Norte Vein, BAN Area 200Looking Southwest

Legend (Feb. 2020)Current NR Reported DHCurrently DrillingProposed DHAssays PendingCompleted DH Pierce pt.

Projected UG Workings

High Grade Footprint

PEA Stope design outline

>1000 gpt Ageq

20

Babicanora Norte Vein, Area 200

“Las Chispas Area”

Las Chispas Area

• Area 118: New discovery – avg. 1.6 m true width grading 3,078 gpt AgEq, 23 holes

• High-grade footprint: 300 m along strike, 125 m in height

Las Chispas PEA(1) resource:• Inf: 19 m oz AgEq (1.8 m tonnes)

with avg grade 327 gpt AgEq (1.48 gpt Au and 315 gpt Ag)

• Best hit to date: 8.6 m true width at 7,873 gpt AgEq

• 6 drill rigs turning

21(1) Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 as amended July 19, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement.

Prioritized in

Q4 2019, 2020 expansion

target

Babicanora Vista Vein

• Best hit: 8.8 m true width at 1,136 gpt AgEq

• 5 drill rig turning

• footprint avg 2.2 m thickness, 753 gpt AgEq, 22 holes

• Initial footprint 150 m in vein strike and 200 m height

• No ounces captured in PEA(1)

Accessible via Santa Rosa decline

22(1) Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 as amended July 19, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement.

Prioritized in

Q4 2019, 2020 expansion

target

50m

Legend (March 2020)Current NR Reported DHCurrently DrillingProposed DHAssays PendingCompleted DH Pierce pt.

*AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$17.00 per ounce silver

and US$1,225 per ounce gold, with average metallurgical recoveries of 90% silver and 95% gold.

0m 100m

A’ A

B’

Long Section (Inclined) of Babi Vista Vein Looking Southwest

OPEN

Underground Workings

B’

B

All information is approximate.

Welded Tuff(Host)Lithic Tuff

(Host)

BAN18-34

BAN18-11

BAN18-30

BAN18-39

BAN18-26

BAN18-53

UBV19-11

UBV19-10

BV19-04

BV19-03

BV19-05

BV19-07

BV19-080.9m, 1,293

BV19-02

BV19-01

BV19-06

OPEN

OPEN

UBV19-30: 0.4m @ 425 gpt Au and 34,566.0 gpt Ag, or 66,441 gpt AgEq*

UBVHOLES

OPEN

OPEN

OPEN

UBV19-09

UBV19-08

High-Grade Footprint

Drill hole #True Thickness, gpt

AgEq*

BAN18-14

UBV19-29

Santa RosaDecline

1100 masl

BAN18-50

UBV19-04

UBV19-07

UBV19-06

OPEN

UBV19-302.1m, 12,740UBV19-31

BV20-141.0m, 277

BV20-181.6m, 5,831 BV20-19

0.8m, 4,354

BV19-120.8m, 1,121

BV19-11

BV20-170.5m, 752

BV20-21

BV19-10

BV20-15

BV20-16

BV20-221.1m, 13,022

BV19-091.4m, 157

BV20-20

Babicanora Area 3D

Looking NW

Babicanora Footwall Vein

Babicanora Vein 0

m200m

Babicanora Norte Vein

Babi Vista Vein

Babicanora Hangingwall

Vein Babicanora Norte

Footwall VeinBabicanora

Norte Area 200

Babicanora Norte Hangingwall Veins

B

400m

Ave. 150m UBV20-33

UBV20-32

UBV20-34

BV20-24

BV20-32

BV20-27

BV20-300.4m, 11,027

BV20-26

BV20-31

OPEN

>1000 gpt AgEq, NR & Total

Notes: NR = this news releaseHoles BV20-23, 25, 26 and 28 are drilled off-section

Previous H-G Footprint

UBV19-22 1.6m, 403

BAN9-50

Babicanora Sur Vein

• 104 additional holes (infill & expansion) averaging 1.4-1.7mgrading 750 gpt AgEq

PEA(1) defined resource: • 10 m oz AgEq (0.54 m tonnes)

with avg grade 575 gpt AgEq (410 gpt Au and 268 gpt Ag)

• Average vein true width of 0.95 m

• Best hit: 2.5 m true width at 6,931 gpt AgEq

24(1) Refer to the Preliminary Economic Assessment for the Las Chispas Property, Sonora, Mexico, effective May 15th, 2019 as amended July 19, 2019 on SEDAR. Please review section titled “ Preliminary Economic Assessment (“PEA”)” on slide 2 which covers the Company's Cautionary Statement.

Prioritized in

Q4 2019, 2020 expansion

target

25

Las Chispas “Mined” High Grade (Babicanora Vein, Area 51 zone)

1020 gpt Au and 79,126 gpt Ag, or 155,626 gpt AgEq or 15.5% AgEq

810 gpt Au and 77,671 gpt Ag or 138,421 gpt AgEq or 13.8% AgEq

701 gpt Au and 74,233 gpt Ag or 126, 808 gpt AgEq or 12.6% AgEq

336 gpt Au and 26,435 gpt Ag or 51,635 gpt AgEq or 5.1% AgEq

“Plata Galactica”

What Could Go Wrong

26

1. Final costs undetermined/financing

incomplete

2. Conversion of resource to reserves

3. High-grade nugget effect/continuity

4. Reconciliation/metallurgy

5. Mining rate/delivering tonnes/dilution

6. Tonnage /mine life

7. Political risk/regional security

8. Single asset company

9. Execution risk

De-Risking

27

✓ Currently have US$ 87 Million in the bank

✓ Major permits in hand

✓ Underground development progressing

✓ Accessed Area 51 & Babi Central from U/G

✓ Stockpiling tonnes

✓ Water resources

✓ 100% ownership of mining

✓ concessions with resources

✓ Local Social license for last ~ 14 years

✓ Underground development progressing

January, 2020

October, 2017

Governance:

• Shareholder Alignment, Management and Board own 11.7% of the company

• Management and Board Diversity – 25% female representation

• Board Oversight: establishment of the Safety, Environment and Social Sustainability (SESS) Committee

Strong Commitment to Governance Standard

28

5

9

16

20

21

0 10 20 30

Anne Yong, CFO

Pierre Beaudoin, COO

Nick Campbell, EVP Bus. Dev

S. Rosy Fier, VP Exp & TS

Chris Ritchie, President

N. Eric Fier, CEO

Value of Shares Purchased to Annual Base Salary

106

”E”nvironmental:• Energy – trade off study; CNG instead of diesel• Water – acquired & permits – availability on site• Climate Change – road/bridge building accounts

for adverse LT impacts• Sustainable Land Use – cattle ranch established,

no endangered species, no acid drainage rocks, small mining footprint

• Waste Management – dry stack tailings, no tailings dam

“S”ocial:• No camp on site, all live in communities, local

services• Over 65% local hire, 99% country hire• Community non-profit foundation;

o Health Careo Educationo Infrastructureo Sports

• No indigenous communities within 75km

Strong Commitment to ESG

29

Cruz de LC 1919 Cruz de LC 2019

Strong Community Engagement

30

“Mi cabeza está en la mina; mi corazónen la comunidad”: N. Eric Fier, CEO

(“My mind is on the mine, my heart is in the community”)

• Release of backlogged drill results from 2019

• Potential index inclusions - GDXJ ?

• Continued expansion drilling

• Continued expansion drilling

• Potential project financing solution

• Potential construction decision

• Construction startup

• Ongoing drill results

• Expansion drilling

• Potential index inclusions – TSX composite?

• Feasibility Study • Resource Estimate • Maiden Reserve• Cost Estimations

Q1 2020 Q2 2020 Q3 2020

2020 Catalysts

31

Brokerage NameBeacon Securities Ltd Michael Curran, CFA

BMO Ryan Thompson

B. Riley Adam Graf, CFA

Canaccord Genuity Kevin MacKenzie, P.Geo., MBA

Cormark Securities Tyron Breytenbach, P.Geo.

National Bank Financial Don DeMarco, P.Eng.

PI Financial Corp Phil Ker, P.Geo., MBA

RBC Capital Markets Mark Mihaljevic, CFA

Roth Capital Partners Jake Sekelsky

Scotiabank Trevor Turnbull

VIII Eight Capital Craig Stanley

Analyst Coverage

32

Tel: (604) 694-1730

Toll Free: 1-866-691-1730

Fax: (604) 357-1313

Contact Us:Email: info@silvercrestmetals.com

Website: www.silvercrestmetals.com

Address: Suite 501 - 570 Granville Street Vancouver, BC V6C 3P1

Viva Las Chispas!

33

Est. 1,500m – February 8, 2019 Resource

Note: All information is approximate. The 2D visual representation of the block model isapproximate and doesn't visually represent all blocks within the 3D model.

B B’Babicanora Area 3DLooking NW

Babicanora Sur Vein

Babicanora Footwall Vein

Babicanora Vein

0m

Legend Historic & Santa Rosa DriftCurrent NR Reported DH.

Currently DrillingProposed DHAssays PendingCompleted DH Pierce pt.

Feb. 8, 2019 AgEq* Computer Gen. Block Model

OPEN

200m

Babicanora Norte Vein

Babicanora Vista Vein

160

Labeled DH = > 1000 gpt AgEq*

*AgEq based on 75 (Ag):1 (Au) calculated using long-term silver and gold prices of US$17 per ounce silver and US$1,225 per ounce gold, with approximate average metallurgical recoveries of 90% silver and 95% gold.

Babicanora Vein

Location TonnesAgEq*

GptContained

AgEq* Ounces

Babicanora

Indicated 646,800 1,175 24,438,600

Inferred 670,300 842 18,145,100

Long Section (Inclined) Babicanora Vein Las Chispas Property, Looking Southwest

LCU HOLES

112109

113

84

93

104

101

98

106

94

Long Section (Inclined) of Las Chispas Vein Looking Northeast (Historic Workings in Pink)

100m0m 200m

OPEN

OPENOPEN

AA’

Las ChispasVein

La BlanquitaVein

La BlanquitaHW Vein

GiovanniVein

0m 200m

Las Chispas Area 3DLooking NW

OPEN

D’ D

LC19-118: 8.6m @ 7,873 gpt AgEq*

89

Legend (Nov. 2019)Current NR Reported DHCurrently DrillingProposed DHAssays PendingCompleted DH Pierce pt.High-grade Footprint

Feb. 8, 2019 AgEq Computer Gen. Block Model

AgEq (gpt) Blocks< 150150 - 300300 - 500500 - 10001000 - 20002000 – 5000> 5000

*AgEq based on 75 (Ag):1 (Au) calculated using long-termsilver and gold prices of US$18.50 per ounce silver and US$1,225 per ounce gold, with average metallurgical

recoveries of 86.6% silver and 98.9% gold.

Drill hole #True Width, gpt AgEq*

LCU HOLES

116

118

110900masl

108105

91A

111

123

58125

128 119

127132

120121

122

130

126

124129

131

117

Insert – Area 118

107

77

76

52

100

Resource Category(1)(3)(4) Tonnes (Million)

Au gpt Ag gpt AgEq(2) gptContained

Gold Ounces

Contained Silver

Ounces

Contained AgEq(2) Ounces

February 2019 Resources

Indicated Resource 1.0 6.98 710.6 1,234 224,900 22,894,800 39,763,600

Inferred Resource 3.6 3.32 332.5 581 388,300 38,906,000 68,069,800

Babicanora

Indicated Resource 0.65 6.57 682.8 1,175 136,500 14,198,000 24,438,600

Inferred Resource 0.67 4.56 500.0 842 98,300 10,775,800 18,145,100

(includes) Shoot 51(5)

Indicated0.28 10.09 1,059.8 1,816 90,900 9,543,200 16,360,700

(includes) Shoot 51(5)

Inferred0.09 8.54 983.8 1,625 25,300 2,912,100 4,809,600

Babicanora Norte Indicated Resource 0.13 11.57 1,180.0 2,047 48,500 4,950,900 8,590,300

Inferred Resource 0.28 8.21 779.6 1,395 73,300 6,960,000 12,458,000

Babicanora FW Indicated Resource 0.16 7.49 675.5 1,237 37,800 3,411,200 6,248,500

Inferred Resource 0.20 7.62 465.4 1,037 50,800 3,103,800 6,913,400

Babicanora HW Indicated Resource 0.07 0.93 153.5 223 2,000 334,800 486,200

Inferred Resource 0.03 0.80 145.3 205 800 147,100 207,500

Babicanora Sur Inferred Resources 0.54 4.10 268.1 575 71,600 4,687,800 10,058,700

Granaditas Inferred Resources 0.09 2.46 220.9 405 7,500 675,100 1,239,200

Las Chispas Area(6) Inferred Resources 1.8 1.48 215.4 327 86,000 12,556,300 19,047,900

(1) Conforms to NI 43-101 and the Canadian Institution of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards on Mineral Resources and Mineral Reserves. Inferred Resources have been estimated from geological evidenceand limited sampling and must be treated with a lower level of confidence than Measured and Indicated Resources.

(2) AgEq based on 75 (Ag):1 (Au), calculated using long-term silver and gold prices of U.S.$17 per ounce silver and U.S.$1,225 per ounce gold with average metallurgical recoveries of 90% silver and 95% gold.

(3) Bulk density has been applied to all materials as 2.55 tonnes per cubic metres.

(4) Vein resource is reported using a 150 gpt AgEq cut-off grade and minimum 0.5 m true width, Babicanora Norte, Babicanora Sur, Babicanora FW and Babicanora HW veins have been modelled to a minimum undiluted thickness of 0.5m, Babicanora Main has been modelled to a minimum undiluted thickness of 1.5m, and surface stockpile (historic dumps) resource is reported using a 100 gpt AgEq cut-off.

(5) Babicanora Area includes the Babicanora, Babicanora Footwall, Babicanora Hangingwall, Babicanora Norte, Babi Sur and Granaditas veins.

(6) Las Chispas Area includes the Las Chispas, Giovanni (including La Blanquita), William Tell, Luigi, Giovanni Mini Veins and Historical Dumps. Inferred Resources for the Las Chispas Area remains unchanged from September 2018.

Las Chispas Resource Estimate (Feb 2019)

36