Silvercorp Considering Perseus Announcements

NEWS RELEASE

Trading Symbol: TSX: SVM

NYSE AMERICAN: SVM

Silvercorp Considering Perseus Announcements

VANCOUVER, British Columbia – November 30, 2023 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”)

(TSX/NYSE American: SVM) notes the announcements made by Perseus Mining Limited ( “Perseus”) (ASX/TSX:

PRU) in relation to its acquisition of a 19.9% interest in OreCorp Limited (“OreCorp”) (ASX: ORR). Silvercorp is

considering these announcements to determine an appropriate course of action in the best interests of

Silvercorp shareholders.

About Silvercorp

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability

and growth potential. The Company’s strategy is to create shareholder value by 1) focusing on generating free

cashflow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and

acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG. For more

information, please visit our website at www.silvercorp.ca.

For further information

Silvercorp Metals Inc.

Lon Shaver

President

Phone: (604) 669-9397

Toll Free 1(888) 224-1881

Email: [email protected]

Website: www.silvercorp.ca