Silvercorp Declares Quarterly Cash Dividend of CAD$0.005

NEWS RELEASE

Trading Symbol: TSX: SVM NYSE: SVM

SILVERCORP DECLARES QUARTERLY CASH DIVIDEND OF CAD$0.005

VANCOUVER, British Columbia – August 15, 2014 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) today announced that its Board of Directors has declared a quarterly dividend of CAD$0.005 per share (CAD$0.02 per share on an annual basis) to be paid on or before October 21, 2014, to shareholders of record at the close of business September 30, 2014. The dividends are considered eligible dividends for Canadian tax purposes.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China. The Company is currently developing the GC project in southern China which it expects will become its next operating mine. The Company's vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically. For more information, please visit our website at www.silvercorp.ca.

For further information

Silvercorp Metals Inc.

Lorne Waldman Senior Vice President Phone: (604) 669-9397 Toll Free 1(888) 224-1881 Email: [email protected] Website: www.silvercorp.ca