SVM.TO · 2023-07-17 12:00:00

Silvercorp Continues to Intersect High‐grade Silver‐lead Zones at the Tlp MINE

Exploration Programs

NEWS RELEASE

Trading Symbol TSX: SVM

NYSE American: SVM

SILVERCORP CONTINUES TO INTERSECT HIGH‐GRADE

SILVER‐LEAD ZONES AT THE TLP MINE

VANCOUVER, British Columbia – July 17, 2023 – Silvercorp Metals Inc. (“Silvercorp” or the

“Company”) (TSX: SVM) (NYSE American: SVM) is pleased to report high‐grade silver‐lead

intercepts from its ongoing diamond drilling program at the TLP mine at the Ying Mining District,

China.

Highlights (all intersections are in core lengths):

 Surface hole ZKTDB0413 intersected 1,025 grams per tonne (“g/t”) silver (“Ag”), 3.01%

lead (“Pb”), and 0.11 g/t gold (“Au”) over a 2.48 metre (“m”) interval of vein T26 at the

1,113 m elevation;

 Surface hole ZKTDB2005 intersected 3,211 g/t Ag, 2.41% Pb, 0.15% zinc (“Zn”), and 0.16%

copper (“Cu”) over a 0.63 m interval of vein T1E at the 1,129 m elevation;

 Surface hole ZKTDB0501 intersected 312 g/t Ag, 3.21% Pb, and 0.43% Zn over a 5.04 m

interval of vein T2 at the 980 m elevation;

 Hole ZKG0847 intersected 8,254 g/t Ag, 11.71% Pb, and 1.30% Zn over a 1.87 m interval of

vein T16 at the 684 m elevation;

 Hole ZKG1447 intersected 7,140 g/t Ag, 30.79% Pb, 0.92% Zn, and 1.43% Cu over a 0.57 m

interval of vein T15W2 at the 818 m elevation;

 Hole ZKG0325 intersected 3,475 g/t Ag, 2.22% Pb, 1.52% Zn, and 0.75 g/t Au over a 0.86 m

interval of vein T38 at the 752 m elevation;

 Hole ZKT4710 intersected 83 g/t Ag, 10.46% Pb, 0.46% Zn, 0.09 g/t Au, and 0.75% Cu over

a 6.26 m interval of vein T3 at the 638 m elevation;

 Hole ZKG1024 intersected 2,743 g/t Ag, 6.95% Pb, and 1.67% Zn over a 1.27 m interval of

vein T11 at the 630 m elevation;

 Hole ZKG1437 intersected 2,204 g/t Ag, 5.13% Pb, 0.43% Zn, and 0.51% Cu over a 2.08 m

interval of vein T16 at the 749 m elevation;

 Hole ZKG1441 intersected 3,437 g/t Ag, 2.09% Pb, 1.55% Zn, and 0.22% Cu over a 1.20 m

interval of vein T16 at the 727 m elevation;

 Hole ZKT0829 intersected 453 g/t Ag, 5.10% Pb, and 0.93% Zn over a 4.60 m interval of vein

T14E at the 975 m elevation; and

 Hole ZKG0009 intersected 542 g/t Ag, 52.01% Pb, 0.20% Zn, and 0.16% Cu over a 0.81 m

interval of vein T15W at the 637 m elevation.

From January 1, 2022, to June 15, 2023, a total of 66,679 m in 340 diamond drill holes, including

270 underground holes and 70 surface holes, were completed at the TLP mine. Assay results

for 227 holes have been received, with 197 holes intersecting mineralization. Currently, there

are 10 rigs drilling at the TLP mine.

The drilling program has targeted three areas: 1) silver‐lead vein structures in the resource area

at higher elevations, close to surface, which have seen limited exploration; 2) infilling in the

production area, particularly above or below previously‐mined stopes, where production

stopped due to higher than modelled variability in grades, thicknesses, and attitudes of the

vein structures; and 3) step out drilling to test the extension of the major vein structures to the

northeast of the resource area.

Drilling Near‐Surface Ag‐Pb Vein Structures within the Resource Area

Drilling over the past few years primarily focused on the lateral and downdip extent of known

vein structures and paid insufficient attention to their extension potential at elevations above

900 m. In addition to the 70 surface drill holes, which account for over 20% of the drill holes in

this program, many underground holes drilled also targeted the vein structures at higher

elevations. High‐grade Ag‐Pb vein structures intersected at higher elevations include the T1

series, T2, T3 series, T11 series, T14E, T15 series, T16 series, T23 series, and T26 series (Table

1).

Drilling Above or Beneath Previously‐Mined Stopes within the Resource Area

Most holes drilled during this period targeted blocks of known Ag‐Pb vein structures that were

previously missed due to limited drilling or tunneling, changes in thickness, strikes and dips of

the pay‐zones in veins within the resource areas below the 900 m elevation. The high‐grade

intercepts are mainly associated with the northwest‐dipping T1 series, T2 series, T3 series, T4,

T11 series, T15 series, T16 series, T23 series, T20, T21, T31W3, T33 series, and T35 series, and

the east‐dipping T14 series, T22 series, T26 series, and T28 series. These intercepts have led to

significant expansion and upgrading of resources. Since the ramps and access tunnels are

already in place, these defined high‐grade blocks can be quickly converted to reserves and

mined.

Step‐Out Drilling Intersecting Ag‐Pb Veins to the Northeast of the Resource Area

Step‐out surface and underground drilling intersected high‐grade Ag‐Pb veins T2, T3 series, T4,

T5, and T21 series to the northeast of the resource area. Hole ZKT4710 intersected 83 g/t Ag,

10.46% Pb, 0.46% Zn and 0.75% Cu over a 6.26 m interval. These intercepts have extended the

boundary of the resource area approximately 300 m to the northeast.

Table 1: Selected intercepts from the drilling programs at the TLP mine

Hole ID From

(m)

Elevation

(m)

Interval

(m)

(g/t)

(%)

(g/t)

(%) Vein

ZKTDB2005 23.60 24.90 1,141 1.30 108 1.18 0.03 0.03 0.07 T1

ZKTDB0412 82.92 84.76 1,101 1.84 216 1.08 0.07 0.05 0.03 T1

ZKTDB0422 74.09 75.86 1,101 1.77 268 0.18 0.03 0.02 0.02 T1

ZKTDB0413 90.30 92.14 1,084 1.84 195 2.94 0.03 0.07 0.01 T1

ZKTDB1781 126.97 129.95 984 2.98 162 2.01 0.07 0.02 0.03 T1

ZKT0933 124.02 124.62 910 0.60 261 11.44 2.52 T1

ZKT0006 38.46 38.96 888 0.50 190 3.96 0.18 0.07 0.06 T1

ZKTDB2005 54.64 55.27 1,129 0.63 3,211 2.41 0.15 0.03 0.16 T1E

ZKTDB0422 53.88 55.16 1,107 1.28 244 0.31 0.08 0.02 0.01 T1W

ZKTDB0427 58.17 58.71 1,105 0.54 672 0.67 0.07 0.03 0.07 T1W

ZKTDB0428 71.16 71.66 1,078 0.50 233 0.54 0.04 T1W

ZKTDB0603 106.05 107.10 1,034 1.05 837 2.64 0.31 0.05 0.05 T1W

ZKTDB0006 176.90 179.95 912 3.05 274 7.86 0.13 T1W

ZKT0815 73.01 73.92 871 0.91 119 4.58 0.09 0.35 0.01 T1W

ZKT1145 92.26 95.18 831 2.92 49 5.47 0.28 0.05 0.12 T1W

ZKTDB0428 13.40 16.59 1,117 3.19 134 0.48 0.26 T1W1

ZKTDB0422 28.46 30.10 1,116 1.64 91 1.42 0.10 0.02 0.02 T1W1

ZKTDB0603 28.83 30.64 1,100 1.81 177 0.79 0.05 0.05 0.06 T1W1

ZKTDB0008 109.91 110.44 1,017 0.53 867 1.11 1.73 0.11 0.09 T1W1

ZKTDB0006 118.81 119.30 958 0.49 60 5.59 0.07 T1W1

ZKT0826 3.79 4.54 897 0.75 204 0.17 0.08 0.02 0.02 T1W1

ZKT0613 148.66 149.52 884 0.86 960 1.11 1.28 T1W1

ZKT0404 151.28 153.71 866 2.43 137 1.18 0.37 0.02 0.02 T1W1

ZKT0907 126.35 126.87 636 0.52 324 3.15 0.49 T1W1

ZKT1315 119.43 120.43 590 1.00 175 4.09 2.25 1.11 0.58 T1W1

ZKT0941 125.28 128.32 590 3.04 138 3.15 1.23 0.16 1.06 T1W1

ZKT1314 134.41 135.01 545 0.60 1,061 4.41 1.44 0.58 0.89 T1W1

ZKT1315 128.64 129.22 585 0.58 141 1.27 1.69 0.49 0.17 T1W1a

ZKTDB0412 17.86 19.27 1,120 1.41 361 1.55 0.25 0.05 0.09 T1W2

ZKTDB0413 17.40 19.20 1,117 1.80 162 0.27 0.15 0.07 0.02 T1W2

ZKTDB0411 10.12 13.67 1,116 3.55 503 1.99 0.28 T1W2

ZKTDB0603 10.39 11.13 1,116 0.74 206 3.59 0.06 0.05 0.03 T1W2

ZKTDB0008 66.67 67.18 1,031 0.51 590 4.08 0.19 0.05 0.46 T1W2

ZKT0613 151.96 153.87 883 1.91 531 2.59 1.20 T1W2

ZKT0802 183.01 183.53 828 0.52 166 1.32 0.40 0.11 0.01 T1W2

ZKT1574 147.02 147.64 584 0.62 216 0.54 0.66 0.79 0.09 T1W2

ZKT1145 150.45 152.60 824 2.15 599 1.25 1.07 0.16 0.15 T1W2a

ZKTDB0404 77.13 78.61 1,131 1.48 166 0.71 0.18 0.05 0.01 T2

ZKT0224 87.79 88.48 986 0.69 538 1.60 0.05 0.05 0.04 T2

ZKTDB0501 172.99 178.03 980 5.04 312 3.21 0.43 0.06 0.06 T2

ZKTDB3306 60.85 63.13 947 2.28 132 0.35 0.11 T2

ZKTDB3307 58.45 60.31 946 1.86 208 0.37 0.14 T2

ZKT1145 46.32 49.47 836 3.15 225 3.12 2.08 0.43 0.68 T2

ZKT1144 42.50 43.39 836 0.89 132 4.87 0.23 0.03 0.44 T2

ZKT1354 166.38 168.31 824 1.93 120 0.76 0.02 0.02 0.04 T2

ZKT4708 140.80 141.95 710 1.15 31 5.54 0.04 0.19 0.01 T2

ZKT4715 145.31 145.87 666 0.56 186 2.01 0.09 T2

ZKT4522 151.31 152.86 641 1.55 34 6.12 0.10 0.80 T2

ZKT5104 251.05 251.65 540 0.60 18 3.58 0.19 2.45 0.07 T2

ZKT1129 32.06 32.80 839 0.74 435 0.06 0.04 0.03 0.01 T2E

ZKT0006 126.31 126.85 877 0.54 344 1.48 0.35 0.13 0.04 T2E1

ZKT0224 68.22 70.88 990 2.66 114 1.54 0.03 0.05 0.03 T2W

ZKT0106 42.26 44.20 886 1.94 275 3.45 0.07 T2W

ZKT0107 45.39 45.96 882 0.57 229 0.96 0.02 T2W

ZKT0106 74.47 76.83 882 2.36 114 1.70 0.08 T2W1

ZKTDB1201 46.72 49.99 1,120 3.27 41 4.92 0.13 T3

ZKTDB2401 143.18 144.13 1,029 0.95 180 1.11 0.11 0.02 0.04 T3

ZKTDB3305 75.62 77.18 917 1.56 3 0.01 0.03 2.67 0.01 T3

ZKT0006 142.50 143.06 875 0.56 311 2.35 0.10 0.14 0.32 T3

ZKT0201 114.56 117.54 871 2.98 284 2.71 0.10 0.08 0.01 T3

ZKT1129 20.40 22.61 840 2.21 226 1.95 0.68 0.16 0.09 T3

ZKT1145 21.01 22.20 839 1.19 257 1.32 0.44 0.14 0.19 T3

ZKT1144 19.30 22.36 839 3.06 327 0.25 0.11 0.50 0.06 T3

ZKT1127 22.42 23.61 833 1.19 173 2.02 0.42 0.23 0.27 T3

ZKT0214 177.80 178.38 787 0.58 100 8.93 0.05 T3

ZKT0215 201.22 205.34 786 4.12 100 1.78 0.06 T3

ZKT4708 145.90 146.66 709 0.76 23 7.18 0.07 0.05 0.04 T3

ZKT4521 155.20 158.41 663 3.21 38 9.72 0.04 T3

ZKT4712 162.88 168.60 644 5.72 25 5.08 0.09 T3

ZKT4710 165.61 171.87 638 6.26 83 10.46 0.46 0.09 0.75 T3

ZKT5912 145.09 145.64 635 0.55 333 0.23 0.06 0.01 0.02 T3

ZKT4716 180.22 181.10 630 0.88 60 6.27 0.06 T3

ZKT5910 196.49 197.29 605 0.80 7 0.01 0.01 3.81 0.01 T3

ZKT5104 260.62 261.45 532 0.83 19 7.78 0.55 0.03 0.20 T3

ZKT5504 220.79 221.61 404 0.82 13 5.55 0.61 0.05 0.01 T3

ZKTDB1780 192.54 193.05 932 0.51 77 4.27 0.16 0.02 0.01 T3E

ZKT3737 7.16 7.72 749 0.56 213 3.38 0.24 0.45 0.65 T3E

ZKT5502 118.56 120.15 652 1.59 193 0.53 0.22 0.05 0.01 T3E

ZKT4710 174.72 175.24 633 0.52 79 35.25 1.14 0.03 0.19 T3E

ZKT4709 173.87 176.13 630 2.26 77 11.35 0.05 0.06 0.49 T3E

ZKT5910 205.53 207.22 599 1.69 334 0.51 0.42 0.30 0.04 T3E

ZKT5106 390.24 391.41 384 1.17 8 5.96 0.05 0.03 T3E

ZKG0607 234.64 235.25 298 0.61 1,012 1.30 2.84 5.15 0.07 T3E

ZKT0006 147.31 148.05 874 0.74 43 7.28 0.18 0.06 0.01 T3E1

ZKT3721 9.26 10.89 746 1.63 208 4.28 1.20 2.60 0.49 T3E1

ZKTDB3307 127.81 128.65 921 0.84 831 0.90 1.10 T4

ZKTDB3305 136.37 137.81 877 1.44 703 1.35 0.23 0.21 0.03 T4

ZKT3737 37.61 38.66 741 1.05 131 29.55 0.22 0.21 0.77 T4

ZKT3718 37.51 38.16 734 0.65 66 6.57 0.07 0.23 0.25 T4

ZKT3719 38.82 41.01 724 2.19 44 6.47 0.63 0.19 0.22 T4

ZKT5106 398.53 399.05 377 0.52 51 8.27 0.11 0.90 T4

ZKT3737 52.90 54.74 737 1.84 96 4.10 0.14 0.40 0.23 T5

ZKT3721 47.99 50.80 726 2.81 88 2.55 0.21 0.19 0.12 T5

ZKT5505 126.23 127.57 696 1.34 88 2.85 0.24 0.01 0.01 T5

ZKG1221A 136.00 136.53 948 0.53 178 7.35 0.79 0.05 0.03 T11

ZKG1814 11.67 12.18 838 0.51 533 2.38 0.16 0.05 0.08 T11

ZKG1030 129.28 131.45 814 2.17 957 0.52 0.15 T11

ZKG0503 147.37 148.58 733 1.21 682 3.64 0.39 0.05 0.21 T11

ZKG0504 137.22 137.73 716 0.51 748 2.53 0.14 0.20 0.10 T11

ZKG0812 230.25 231.19 712 0.94 911 0.42 0.05 0.01 0.02 T11

ZKG1226 125.24 125.77 683 0.53 56 0.27 0.28 0.02 3.32 T11

ZKG1024 128.39 129.66 630 1.27 2,743 6.95 1.67 T11

ZKG1105 206.94 207.90 626 0.96 48 10.31 0.09 0.05 0.13 T11

ZKG1009 145.17 145.76 578 0.59 752 11.83 5.55 T11

ZKG0108 279.35 280.02 541 0.67 57 8.73 1.39 0.39 0.04 T11

ZKG0454 200.83 201.89 535 1.06 385 8.98 1.48 2.12 0.12 T11

ZKT0616 69.45 70.16 906 0.71 101 2.69 0.13 0.05 0.04 T11E

ZKG0108 342.11 342.74 517 0.63 166 8.89 6.78 1.65 0.01 T11E

ZKG0809 227.42 228.35 627 1.01 216 0.64 0.14 T11E2

ZKG0810 227.29 227.93 619 0.64 260 0.93 0.34 T11E2

ZKT0812 131.72 132.31 907 0.59 781 5.82 0.71 0.05 0.18 T11E4

ZKT0616 82.24 82.74 902 0.50 1,259 2.97 0.47 0.05 0.29 T11E4

ZKT0812 29.72 30.31 919 0.59 754 0.45 0.48 0.05 0.02 T11W

ZKG1815 34.90 35.45 840 0.55 684 0.91 0.25 0.02 0.04 T11W1

ZKG1819 87.46 88.02 794 0.56 24 6.21 0.29 0.01 T12

ZKG0104 152.05 152.67 791 0.62 130 2.12 0.36 0.02 0.01 T14

ZKT0530 108.41 110.59 752 2.18 79 5.28 0.54 0.01 0.04 T14

ZKG0465 115.81 116.44 680 0.63 222 4.42 0.54 0.22 0.08 T14

ZKT0829 35.73 40.33 975 4.60 453 5.10 0.93 0.05 0.07 T14E

ZKT0611 110.05 110.85 918 0.80 322 0.46 0.17 T14E

ZKT0610 92.60 93.10 902 0.50 264 10.60 0.14 0.05 0.01 T14E

ZKG0106 200.35 201.89 824 1.54 134 1.57 0.07 0.03 0.08 T14E

ZKT0717 130.39 131.53 788 1.14 252 1.48 1.18 0.05 0.02 T14E

ZKG1221A 93.13 93.71 951 0.58 158 2.06 0.26 0.05 0.01 T15

ZKT0813 14.69 15.29 921 0.60 189 1.87 0.12 0.05 0.01 T15

ZKT0812 17.59 18.13 921 0.54 233 1.42 0.16 0.05 0.05 T15

ZKG1815 11.36 12.09 838 0.73 298 1.09 0.48 0.02 0.05 T15

ZKG1447 15.23 15.81 832 0.58 321 0.56 0.26 0.01 0.25 T15

ZKG1610 114.81 115.80 815 0.99 548 1.28 0.50 T15

ZKG0113 105.51 106.22 617 0.71 310 2.86 0.21 0.24 0.19 T15

ZKT1027 142.72 144.13 944 1.41 40 3.30 0.15 0.05 T15W

ZKT1006 5.03 6.07 919 1.04 573 0.37 0.07 0.05 0.04 T15W

ZKG1815 47.76 48.42 841 0.66 209 0.51 0.20 0.02 0.06 T15W

ZKG1437 48.75 49.28 816 0.53 429 0.10 0.26 0.05 0.10 T15W

ZKG1438 58.28 58.95 808 0.67 784 0.97 1.16 0.06 0.10 T15W

ZKG1606 131.63 132.15 685 0.52 184 6.49 0.20 0.12 0.03 T15W

ZKG0009 88.28 89.09 637 0.81 542 52.01 0.20 0.05 0.16 T15W

ZKG1024 125.56 127.29 632 1.73 279 0.40 0.10 T15W

ZKG0115 74.92 76.05 622 1.13 404 19.59 0.50 T15W

ZKG0113 96.89 97.75 620 0.86 596 10.45 0.53 0.09 0.19 T15W

ZKG0005 107.91 108.41 593 0.50 460 11.98 0.35 T15W

ZKT0804 60.41 60.93 921 0.52 211 0.60 0.20 0.05 0.02 T15W1

ZKT0805 48.50 49.00 921 0.50 382 1.47 0.73 T15W1

ZKG0605 191.30 191.82 632 0.52 2,128 3.43 0.21 0.11 0.12 T15W1

ZKG0113 75.05 75.85 627 0.80 216 1.12 0.24 0.17 0.01 T15W1

ZKG1821 63.03 63.85 826 0.82 373 0.52 0.25 0.05 0.05 T15W2

ZKG1447 67.99 68.56 818 0.57 7,140 30.79 0.92 0.04 1.43 T15W2

ZKG1437 73.12 73.67 806 0.55 1,246 1.09 0.09 0.05 0.16 T15W2

ZKG1441 82.74 83.25 798 0.51 646 13.14 0.10 0.11 0.05 T15W2

ZKG1226 40.17 41.60 694 1.43 162 1.02 0.40 0.02 0.03 T15W2

ZKG1024 39.63 40.18 678 0.55 909 0.76 0.25 T15W2

ZKG1821 122.47 123.08 817 0.61 1,036 0.76 0.25 0.05 0.20 T15W4

ZKT0716 61.96 62.53 794 0.57 672 1.41 1.34 0.05 0.06 T15W4

ZKG0111 92.43 92.95 621 0.52 103 3.05 0.08 T15W4

ZKG1447 188.43 188.98 787 0.55 2,778 2.40 2.56 0.02 0.21 T16

ZKT1365 178.41 179.04 780 0.63 635 4.54 1.04 0.07 0.11 T16

ZKG1437 212.50 214.58 749 2.08 2,204 5.13 0.43 0.05 0.51 T16

ZKG1441 240.19 241.39 727 1.20 3,437 2.09 1.55 0.05 0.22 T16

ZKG0852 39.02 39.54 712 0.52 502 1.71 0.42 T16

ZKG1023 38.65 39.20 710 0.55 465 1.38 1.05 0.06 T16

ZKG1012 45.94 46.44 691 0.50 281 2.37 0.18 0.05 0.01 T16

ZKG0847 59.22 61.09 684 1.87 8,254 11.71 1.30 T16

ZKG0452 63.17 63.78 645 0.61 310 0.62 0.54 0.14 0.01 T16

ZKG0360 199.06 201.45 576 2.39 84 2.91 0.44 0.16 0.02 T16

ZKG0535 214.82 216.01 560 1.19 343 19.10 2.95 1.68 0.08 T16

ZKT1017 50.71 51.32 973 0.61 313 3.17 0.30 0.03 0.02 T16E1

ZKG1022 15.13 15.65 704 0.52 420 0.89 0.36 0.05 T16E1

ZKG0852 81.75 82.26 725 0.51 540 6.43 0.24 T16W

ZKG1022 89.20 89.82 719 0.62 414 5.38 1.45 0.02 T16W

ZKG1816 308.92 309.46 715 0.54 247 3.04 0.74 0.05 0.01 T16W

ZKG0847 95.45 96.02 675 0.57 20 5.25 0.43 T16W

ZKG1449 319.14 320.46 661 1.32 1,350 2.07 2.02 0.05 T16W

ZKG0852 53.88 55.15 716 1.27 537 0.91 0.10 T16W1

ZKG0107 113.70 114.24 597 0.54 245 1.83 1.82 0.59 0.04 T16W1

ZKT0113 68.27 68.89 927 0.62 253 0.07 0.10 0.02 0.02 T16W3

ZKG1814 208.28 209.82 857 1.54 181 2.03 0.82 0.05 0.04 T17

ZKG1810 221.15 221.74 753 0.59 283 14.98 0.24 0.03 0.02 T17

ZKG1816 221.45 224.88 749 3.43 73 1.80 0.26 0.05 0.02 T17

ZKG2211 234.94 235.54 732 0.60 192 5.66 0.39 T17

ZKG1438 263.73 264.25 712 0.52 53 7.18 0.06 0.02 0.01 T17

ZKG1449 299.01 300.60 672 1.59 1,028 3.33 0.33 0.05 T17

ZKG1814 203.27 205.21 857 1.94 419 2.66 0.54 0.05 0.14 T17E

ZKG1438 244.49 245.05 721 0.56 267 1.11 0.17 0.03 0.03 T17E

ZKG1820 16.59 18.21 696 1.62 188 0.72 0.23 0.05 0.05 T17E

ZKG1810 266.29 268.43 735 2.14 463 2.51 0.35 0.02 0.07 T17W

ZKG0429 80.78 81.39 682 0.61 135 4.01 0.36 T17W

ZKG1810 261.84 262.36 737 0.52 716 0.74 0.18 0.02 0.41 T17W2

ZKT3718 46.48 50.52 730 4.04 61 2.88 0.13 0.27 0.27 T20

ZKTDB0504 23.97 24.70 1,055 0.73 308 1.49 0.06 T21

ZKTDB0404 247.57 248.81 1,046 1.24 334 2.41 0.40 0.05 0.21 T21

ZKT0523 100.78 103.75 916 2.97 89 15.87 0.22 0.05 0.11 T21

ZKT3738 64.96 65.46 734 0.50 445 7.29 0.84 0.44 0.14 T21

ZKT3737 68.47 69.89 733 1.42 914 0.63 0.64 1.25 0.17 T21

ZKT3738 87.81 88.33 728 0.52 30 8.08 0.07 0.05 0.01 T21E

ZKT1142 93.10 93.58 1,012 0.48 286 14.66 0.32 0.02 0.04 T22

ZKT1129 133.63 134.24 830 0.61 211 0.73 0.37 0.11 0.03 T22

ZKG1810 300.74 302.32 723 1.58 195 0.80 0.06 0.03 0.12 T22E

ZKTDB0381 169.22 170.44 1,002 1.22 131 1.38 0.27 0.02 0.06 T22W

ZKTDB0009 22.74 23.35 1,046 0.61 2,587 0.72 0.22 0.05 0.29 T23

ZKTDB0006 26.43 28.42 1,032 1.99 256 1.20 0.08 T23

ZKTDB0004 26.34 26.87 1,029 0.53 288 11.11 0.20 T23

ZKT1354 19.67 20.30 808 0.63 178 1.69 0.28 0.03 0.11 T23

ZKT4712 98.27 101.25 681 2.98 92 4.78 0.06 T23

ZKT4716 114.15 114.93 669 0.78 261 0.70 0.14 T23

ZKT1574 167.09 167.74 580 0.65 591 0.81 0.95 0.19 0.15 T23

ZKT1574 163.88 164.48 581 0.60 669 1.28 2.49 0.20 0.24 T23E

ZKTDB0381 60.81 62.77 1,056 1.96 373 0.22 0.08 0.02 0.02 T23W

ZKTDB0381 156.86 157.39 1,008 0.53 304 1.64 1.18 0.04 0.06 T23a

ZKTDB0011 22.96 25.70 1,114 2.74 150 0.50 0.13 T26

ZKTDB0413 27.07 29.55 1,113 2.48 1,025 3.01 0.07 0.11 0.03 T26

ZKTDB0413 29.55 34.61 1,112 5.06 255 0.48 0.08 0.05 0.14 T26E

ZKTDB0426 99.53 100.22 1,068 0.69 193 0.52 0.06 T26E

ZKTDB0011 27.43 28.04 1,112 0.61 159 1.48 0.06 0.05 0.03 T26E1

ZKT0006 2.89 3.42 892 0.53 229 0.70 0.07 0.09 0.19 T26E1

ZKTDB0011 13.39 14.15 1,119 0.76 332 2.51 0.06 0.07 0.03 T26W

ZKT0613 126.73 127.24 886 0.51 580 5.87 0.25 T28

ZKT0802 80.59 81.35 866 0.76 21 6.27 0.10 0.05 T28

ZKT0404 126.56 127.08 871 0.52 165 1.32 0.31 0.03 0.03 T28E2

ZKT0613 122.73 123.30 886 0.57 141 1.90 0.30 T28a

ZKT0221 65.00 65.69 1,012 0.69 162 1.90 0.03 0.01 0.08 T29

ZKT0616 32.41 32.92 915 0.51 395 1.18 0.07 0.11 0.14 T31W3

ZKT0812 92.25 92.77 912 0.52 130 3.06 0.37 0.05 0.01 T31W3

ZKTDB1522 225.44 226.03 1,020 0.59 326 4.04 0.14 0.01 0.02 T33

ZKT1315 69.52 70.02 618 0.50 379 1.08 0.17 0.04 0.05 T33E

ZKT1354 1.27 2.63 806 1.36 134 0.53 0.32 0.02 0.01 T33E1

ZKT1315 83.69 85.19 610 1.50 154 1.32 0.51 0.01 0.11 T33E1

ZKT4723 10.50 11.04 740 0.54 401 1.74 0.48 T35

ZKT0771 190.81 191.32 878 0.51 169 8.58 1.52 0.03 0.03 T35E

ZKT0711 118.10 120.85 825 2.75 136 1.99 0.28 0.02 0.02 T35E

ZKT0523 233.46 233.96 907 0.50 566 0.91 0.21 0.05 0.19 T35E1

ZKT0771 231.20 231.74 868 0.54 669 1.54 0.45 0.03 0.10 T35E2

ZKTDB0201 161.59 162.22 946 0.63 347 1.15 0.18 0.11 0.11 T38

ZKT2926 113.66 114.19 829 0.53 569 6.31 0.17 0.05 0.05 T38

ZKT2927 121.02 122.93 828 1.91 576 0.65 0.58 0.05 0.02 T38

ZKT2925 106.81 107.35 805 0.54 464 3.39 5.48 0.16 0.02 T38

ZKG0105 70.07 71.92 797 1.85 220 5.85 0.19 0.03 0.05 T38

ZKG0104 82.94 83.57 796 0.63 948 3.00 2.24 0.02 0.15 T38

ZKT0709 52.12 52.62 794 0.50 196 0.47 0.49 0.05 0.02 T38

ZKT0529 46.13 46.95 793 0.82 326 5.67 1.26 0.05 0.12 T38

ZKT0710 51.13 51.67 793 0.54 581 6.04 0.66 0.03 0.03 T38

ZKG0325 96.57 97.43 752 0.86 3,475 2.22 1.52 0.75 0.07 T38

ZKT2928 209.12 209.70 820 0.58 445 0.68 0.25 0.05 0.02 T39

ZKT2925 173.10 173.72 784 0.62 199 1.55 0.73 0.03 0.03 T39E2

ZKT2927 167.57 168.07 824 0.50 308 0.26 0.05 0.05 0.02 T39W

ZKT2928 171.00 171.51 824 0.51 373 1.14 0.22 0.05 0.01 T39W

ZKT2925 150.01 150.61 791 0.60 420 0.58 0.28 0.03 0.01 T39W

ZKG1030 94.18 94.82 820 0.64 71 4.23 0.42 NA [1]

[1] New vein with no vein ID

Quality Control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contacts or

shear/alteration contacts, were split into halves by sawing. The half cores are stored in the

Company's core shacks for future reference and checks, and the other half core samples are

shipped in securely sealed bags to the Chengde Huakan 514 Geology and Minerals Test and

Research Institute in Chengde, Hebei Province, China, 226 km northeast of Beijing, the

Zhengzhou Nonferrous Exploration Institute Lab in Zhengzhou, Henan Province, China, and SGS

in Tianjin, China. All three labs are ISO9000 certified analytical labs. For analysis, the sample is

dried and crushed to minus 1 mm and then split into a 200‐300 g subsample which is further

pulverized to minus 200 mesh. Two subsamples are prepared from the pulverized sample. One

is digested with aqua regia for gold analysis with atomic absorption spectroscopy (“AAS”), and

the other is digested by two‐acid digestion for analysis of silver, lead, zinc, and copper with AAS.

Channel samples are collected along sample lines perpendicular to the mineralized vein

structure in exploration tunnels. Spacing between sampling lines is typically 5 m along strike.

Both the mineralized vein and the altered wall rocks are cut by continuous chisel chipping.

Sample length ranges from 0.2 m to more than 1 m, depending on the width of the mineralized

vein and the mineralization type. Channel samples are prepared and assayed with AAS at

Silvercorp’s mine laboratory (“Ying Lab”) located at the mill complex in Luoning County, Henan

Province, China. The Ying lab is officially accredited by the Quality and Technology Monitoring

Bureau of Henan Province and is qualified to provide analytical services. The channel samples

are dried, crushed and pulverized. A 200 g sample of minus 160 mesh is prepared for assay. A

duplicate sample of minus 1 mm is made and kept in the laboratory archives. Gold is analysed

by fire assay with AAS finish, while silver, lead, zinc, and copper are assayed by two‐acid

digestion with AAS finish.

A routine quality assurance/quality control (“QA/QC”) procedure is adopted to monitor the

analytical quality at each lab. Certified reference materials (CRMs), pulp duplicates and blanks

are inserted into each batch of lab samples. QA/QC data at the lab are attached to the assay

certificates for each batch of samples.

The Company maintains its own comprehensive QA/QC program to ensure best practices in

sample preparation and analysis of the exploration samples. Project geologists regularly insert

CRMs, field duplicates and blanks to each batch of 30 core samples to monitor the sample

preparation and analysis procedures at the labs. The analytical quality of the labs is further

evaluated with external checks by sending approximately 3‐5% of the pulp samples to higher

level labs to check for lab bias. Data from both the Company's and the labs' QA/QC programs

are reviewed on a timely basis by project geologists.

Guoliang Ma, P. Geo., Manager of Exploration and Resource of the Company, is the Qualified

Person for Silvercorp under NI 43‐101 and has reviewed and given consent to the technical

information contained in this news release.

About Silvercorp

Silvercorp is a profitable Canadian mining company producing silver, 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 the acquisition of

profitable projects. Silvercorp balances profitability, social and environmental relationships,

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.silvercorpmetals.com

CAUTIONARY DISCLAIMER ‐ FORWARD LOOKING STATEMENTS

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

meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward‐looking information”

within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or

involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or

future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”,

← Back to feed