SVM.TO · 2020-03-17 12:00:00

Silvercorp Announces Share Repurchase Program

Corporate Actions

NEWS REL

Trading S

VANCOUV

“Compan

shares of

outstandi

2021. The

resulted i

Silvercorp

Purchases

facilities o

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of shares

purchases

intends to

for any c o

permitted

regulatory

The Com p

that inte n

directors

of the n o

the norm

10% or m

acquire su

The maxi

exceed 2

calendar m

for a dail

determine

the Comp

Pursuant

terminate

a price o f

trading p

LEASE

ymbol: TSX/N

VER, British

y”) is please

f t h e C o m p an

ng as of Ma r

e Company i

in Silvercorp’

p’s portfolio o

s will be ma

of the TSX, t

compliance w

that will be

s a t a n y t i me

o hold all sha

ommon share

d b y t h e C SA

y authority w

pany is not a

nd to sell th e

or persons h

ormal course

al course iss

more of the s

uch securitie

mum numbe

5% of the a

months of 67

y total of 16

ed in accord a

pany on the a

to the Com

ed on Febru a

f $3.09 per c o

latforms in C

NYSE AMERIC

SILVERCORP

Columbia –

d to announ

ny, represent

rch 16, 2020.

s taking this

’s shares bei

of producing p

ade at the di

he NYSE Am

with regulato

repurchased

e, subject to

res acquired

es will be th e

A. Any private

will generally b

ware of any

eir securities

holding 10% o

issuer bid, a

uer bid the C

ecurities int e

s pursuant t o

er of shares t

verage daily

79,536, exclud

69,884 comm

ance with TS X

lternative tra

pany’s norm

ary 24, 2020,

ommon shar e

Canada and t

CAN: SVM

P ANNOUNCE

March 17,

c e a n o r m a l

ting approxim

The repurcha

action beca

ng undervalu

properties in

iscretion of t

erican, and a

ry requireme

under the s h

compliance

under the iss

e market pric e

e purchase m

be at a discou

officers, dir e

at the incep

or more of t h

s their pers o

Company be c

end to sell t h

o the normal

that may be

trading volu

ding purchase

mon shares. T

X regulatory

ding platform

al course iss

Silvercorp p u

e through th e

the United S t

S SHARE REP

2020 – Sil v

course issue

mately 5% th

ase program

ause it believ

ued relative

China and ot

the directors

alternative tr

ents. There ca

hare repurcha

with applicab

suer bid for c

e at the tim e

made under

unt to the pre

ectors or per s

tion of the n

he securities

onal circums t

comes awar e

heir securitie

course issue

purchased o

ume on the

es made by Si

This limit, for

requirements

ms in the Unit

suer bid whic

urchased 1, 7

e facilities o f

tates, in co m

PURCHASE PR

vercorp Me t

er bid to acq

he 173,402,08

will run fro m

ves that prev

t o t h e i m me

her strategic

s at prevailin

rading platfor

an be no assu

ase program.

ble regulator

cancellation. T

e of purchas e

an exemptio

evailing marke

sons holding

normal cours

may sell th e

tances may r

e that officer s

es, then the C

r bid.

on the TSX du

TSX based o

ilvercorp und

r w h i c h t h e r

s and does n o

ted States.

ch commenc

717,100 com m

f the TSX, th e

mpliance with

ROGRAM

tals Inc. (“ S

quire up to 8

84 common

m March 19, 2

vailing marke

ediate and lo

investments

ng market pr

rms in Canad

urance as to th

. Silvercorp m

ry requireme

The price the

e or such oth e

on order issu

et price.

10% or mor

e issuer bid,

eir securities

equire. If du

s, directors o

Company wil

uring any tra

on the previo

der its norma

e are permit

ot apply to p

ced on Febru

mon shares o

e NYSE Amer i

regulatory r

ilvercorp” o

,670,104 com

shares issued

2020 to Mar c

et conditions

ong term val

rices, throug

da and the U

he precise nu

may discontin

n t s . T h e C om

e Company w

er price as m

ed by a secu

e of the sec u

but such of f

during the c

ring the cou

or persons h o

l not intenti o

ading day ma

ou s s i x c o mp

l course issue

tted exceptio

purchases ma

uary 25, 2019

of the Comp a

ican or alter n

requirement s

r the

mmon

d a n d

ch 18,

have

lue of

h the

United

umber

ue its

mpany

ill pay

may be

urities

ficers,

ourse

rse of

olding

onally

ay not

pleted

er bid,

ons, is

de by

9 a n d

any at

native

s. The

Company was authorized to purchase up to 8,484,682 common share s under the 2019 normal course

issuer bid.

About Silvercorp Metals Inc.

Silvercorp is a profitable Canadian mining company producing si lver, lead and zinc metals in

concentrates from mines in China. The Company’s goal is to continuously create healthy returns to

shareholders through efficient management, organic growth and t he acquisition of profitable projects.

Silvercorp balances profitability, social and environmental rel ationships, employees’ wellbeing and

sustainable development. For more information please visit our website at www.silvercorp.ca.

For Further Information

Lon Shaver

Vice President

Silvercorp Metals Inc.

Phone: (604) 669‐9397

Toll Free: 1(888) 224‐1881

Email: [email protected]

Website: www.silvercorp.ca

CAUTIONARY DISCLAIMER ‐ FORWARD‐LOOKING STATEMENTS

Certain of the statements and information in this news release constitute “forward‐looking statements”

within the meaning of the United States Private Securities Liti gation Reform Act of 1995 and “forward‐

looking information” within the meaning of applicable Canadian provincial securities laws (collectively,

“forward‐looking statements”). Any statements or informatio n that express or involve discu ssions with

respect to predictions, expectations, beliefs, plans, projectio ns, objectives, assumptions or future events

o r p e r f o r m a n c e ( o f t e n , b u t n o t a l w a y s , u s i n g w o r d s o r p h r a s e s such as “expects”, “is expected”,

“anticipates”, “believes”, “plan s”, “projects”, “estimates”, “a ssumes”, “intends”, “strategies”, “targets”,

“goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating

that certain actions, events or results “may”, “could”, “would” , “might” or “will” be taken, occur or be

achieved, or the negative of any of these terms and similar exp ressions) are not statements of historical

fact and may be forward‐looking statements.

In particular, this press release contains forward‐looking stat ements pertaining, among other things, to

the Company’s normal course issuer bid, the process the Company plans to follow to evaluate purchases

under the normal course issuer bid and the expected benefits to shareholders associated with the

normal course issuer bid and its operation. This list is not exhaustive of the factors that may affect any of

the Company’s forward‐looking statements.

Forward looking statements are statements about the future and are inherently uncertain, and actual

achievements of the Company or other future events or conditions may differ materially from those

reflected in the forward‐looking statements due to a variety of risks, uncertainties and other factors,

including, without limitation, those referred to in the Company ’s Annual Information Form for the year

ended March 31, 2019 under the heading “Risk Factors”. Although t h e C o m p a n y h a s a t t e m p t e d t o

identify important factors that could cause actual results to d iffer materially, there may be other factors

t h a t c a u s e r e s u l t s n o t t o b e a s a n t i c i p a t e d , e s t i m a t e d , d e s c r i bed or intended. Accordingly, readers

should not place undue reliance on forward‐looking statements. The Company’s forward‐looking

statements are based on the assu mptions, beliefs, expectations and opinions of management as of the

date of this news release, and other than as required by applic able securities laws, the Company does

not assume any obligation to update forward‐looking statements if circumstances or management’s

assumptions, beliefs, expectations or opinions should change, o r changes in any other events affecting

such statements. For the reasons set forth above, investors sho uld not place undue reliance on forward‐

looking statements.

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