SVM.TO · 2022-10-06 12:00:00

Silvercorp Intercepts New High-Grade Structures at Lmw MINE, Ying Mining Distrct, China, Including Vein LM26: 5.39 Metres True Width Grading 2,896 Grams PER Tonne Silver and 2.58% Copper

Drill Results

SILVERCORP INTERCEPTS NEW HIGH-GRADE STRUCTURES AT LMW

MINE, YING MINING DISTRCT, CHINA, INCLUDING VEIN LM26:

5.39

METRES TRUE WIDTH GRADING 2,896 GRAMS PER TONNE SILVER AND

2.58% COPPER

VANCOUVER, BC

Oct. 6, 2022

/CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report assay

results from its ongoing drilling program at the LMW mine within the Ying Mining District in

China

. From

October 1, 2021

September 30, 2022

, a total of

56,803 metres ("m") in 416 diamond drill holes, including 372 underground holes and 44 surface holes, were completed at the LMW mine. Assay results for 378

holes have been received and selected results are presented in Table 1 below. Currently, two surface and eight underground rigs are drilling at the LMW mine.

The assay results released here have not been included in the most recent "MINERAL RESERVES AND RESOURCES" update with a cut-off date of

December

31, 2021

(see news release dated

September 21

, 2022).

New Discovery of High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas

Drilling at the west side of LMW, where there has been no previous mining activity, intersected new high-grade silver-lead-zinc veins, including W1, W2, W2W,

W6, W6E, W6W, and W18. Among these, veins W2, W1 and W18 may have lengths of over

800 m

along strike and

400 m

down-dip from

1100 m

700 m

elevation. To pursue this new discovery, the Company has started to develop two new horizontal tunnels from surface at

1040 m

and

988 m

elevations, and a

new branch off-ramp from

800 m

700 m

elevations to access these veins.

Highlights of these new discovery holes are as follows:

Hole ZKX0818

intersected a

3.18 m

interval (

2.82 m

true width) of vein W2 grading 2,238 grams per tonne ("g/t") silver ("Ag"), 5.90% lead ("Pb"), 0.61% zinc

("Zn"), and 0.36% copper ("Cu") at the

1,045 m

elevation;

Hole ZKX0634

intersected a

4.03 m

interval (

3.43 m

true width) of vein W6W grading 970 g/t Ag, 16.20% Pb, 0.60% Zn, and 0.29% Cu, at the

1,031 m

elevation

Hole ZKX0636

intersected a

1.18 m

interval (

0.91 m

true width) of vein W1 grading 2,511 g/t Ag, 3.45% Pb, 1.01% Zn, and 0.38% Cu, at the

963 m

elevation; and

Hole ZKX

14214

intersected a

6.58 m

interval (

1.19 m

true width) of vein W18 grading 646 g/t Ag, 3.12% Pb, 0.3% Zn, and 0.16% Cu, at the1039 m

elevation.

Drilling of Low Angle Gold-Copper-Silver Veins Further Improved Continuity of Mineralization

Drilling of the low angle copper-gold-silver veins of LM21, LM22, LM26 and LM50 was designed to better understand this new type of mineralization which is

strongly altered by silicification, with less obvious contact with host rocks of Archean granitic gneisses. The lower angle copper-gold structures were also offset

slightly by sub-vertical north-west and north-east trending silver-lead veins which have been the focus of mining production at LMW. With the drilling program

designed to expand gold-copper structures, and with better understanding, the Company is learning how to mine these low angle gold-copper bodies.

Highlights of the intercepts from the low angle gold veins at the LMW mine:

Hole

ZKX03X021

intersected a

7.03 m

interval (

5.39 m

true width) of vein LM26 grading 0.17 g/t gold ("Au"), 2,896 g/t Ag, and 2.58% Cu, at the

602 m

elevation;

Hole

ZKX11238

intersected a

9.54 m

interval (

3.37 m

true width) of vein LM26 grading 0.98 g/t Au, 1,323 g/t Ag, 7.45% Pb, 0.55% Zn, and 0.32% Cu, at the

670 m

elevation;

Hole

ZKX112

intersected a

6.57 m

interval (

3.2 m

true width) of vein LM26 grading 1.23 g/t Au, 1,780 g/t Ag, 16.71% Pb, 0.69% Zn, and 0.23% Cu, at the

670 m

elevation;

Hole

ZKX07X031

intersected an

8.10 m

interval (

4.06 m

true width) of vein LM50 grading 1.26 g/t Au, 674 g/t Ag, 1.28% Pb, 0.21% Zn, and 0.09% Cu at the

799 m

elevation;

Hole

ZKX07X021

intersected an

1.01 m

interval (

0.65 m

true width) of vein LM50 grading 19.2 g/t Au and 15 g/t Ag at the

791 m

elevation;

Hole

ZKX05X079

intersected a

4.21 m

interval (

3.42 m

true width) of vein LM50 grading 6.36 g/t Au and 11 g/t Ag at the

794 m

elevation;

Hole

ZKX05X098

intersected a

0.77 m

interval (

0.70 m

true width) of vein LM22 grading 29.00 g/t Au, 10 g/t Ag, and 1.21% Cu at the

850 m

elevation; and

Hole

ZKX05X096

intersected a

0.51 m

interval (

0.38 m

true width) of vein LM22 grading 32.50 g/t Au, 2 g/t Ag, and 0.05% Cu, at the

848 m

elevation.

Drilling Above or Beneath Previously Mined Stopes

Most holes in this period targeted blocks of known silver-lead-zinc veins in the production areas that were previously missed due to limited drilling or tunneling,

changes in the strikes and dips, and/or pinch-swelling of the pay-zones in the veins. The high-grade intercepts are mainly associated with the southwest-striking

LM7 series, LM12 series and LM17 series of veins, and the northwest-striking LM8 series, LM19 and LM20E.

Highlights of the high-grade silver-lead-zinc mineralization in the production areas:

Hole ZKX07X003

intersected a

13.31 m

interval (

12.80 m

true width) of vein LM7 grading 365 g/t Ag, 0.71% Pb, 0.13% Zn, 0.06 g/t Au, and 0.33% Cu at

the

778 m

elevation;

Hole ZKX0733

intersected a

1.46 m

interval (

1.37 m

true width) of vein LM12E grading 4,549 g/t Ag, 1.19% Pb, 0.24% zinc ("Zn"), 0.49 g/t Au, and 0.10%

copper ("Cu") at the

645 m

elevation;

Hole ZKX0058

intersected a

3.40 m

interval (

3.39 m

true width) of vein LM7W grading 1,181 g/t Ag, 2.49% Pb, 0.24% Zn, 0.12 g/t Au, and 0.21% Cu at the

771 m

elevation;

Hole ZKX05X075

intersected a

4.16 m

interval (

3.72 m

true width) of vein LM7 grading 360 g/t Ag, 1.75% Pb, 0.59% Zn, 9.15 g/t Au, and 0.24% Cu at the

764 m

elevation; and

Hole ZKX09X001

intersected a

5.78 m

interval (

5.53 m

true width) of vein LM7W grading 531 g/t Ag, 1.06% Pb, 0.37% Zn, 0.02 g/t Au, and 0.19% Cu at the

575 m

elevation.

Drilling Intersected High-Grade Silver-Lead-Zinc Veins and a New Gold Structure at the East Side of the Resource Area

At the east side of the resource area, drilling intersected high-grade silver-lead-zinc vein LM41E and the parallel silver-lead-zinc veins LM41E1 and LM41E1Wa

with true widths up to

2.40 m

While drilling these LM41 series high grade silver-lead-zinc veins, a new gently dipping gold vein has been discovered with three drill holes, ZKX10944, ZKX10735,

and ZKX10739 intercepting high grade gold, which are approximately

450 m

east of those intercepts on the LM50 gold structure.

Highlights of the high-grade silver-lead-zinc mineralization at the northwest and east sides of the LMW mine:

Hole ZKX1166

intersected a

1.36 m

interval (

1.23 m

true width) of vein LM41E grading 2,415 g/t Ag, 2.61% Pb, 0.40% Zn, 0.05 g/t Au, and 0.90% Cu at the

778 m

elevation; and

Hole ZKX1143

intersected a

3.11 m

interval (

2.40 m

true width) of vein LM41E grading 993 g/t Ag, 1.35% Pb, 0.54% Zn, 0.05 g/t Au, and 0.12% Cu at the

754 m

elevation.

Hole ZKX

09X033

intersected a

1.3 m

interval (

0.88 m

true width) of vein LM41EWa grading 1976 g/t Ag, 1.74% Pb, 0.45% Zn, 0.79 g/t Au, and 0.23% Cu at

the

706 m

elevation.

Hole ZKX

10944

intersected a

2.13 m

interval (

2.0 m

true width) of a new gently dipping gold vein grading 478 g/t Ag, 2.14% Pb, 0.9% Zn, and 5.97 g/t Au,

at the

763 m

elevation

Hole ZKX

10735

intersected a

1.18 m

interval (

1.18 m

true width) of the new gently dipping gold vein grading 5.37 g/t Au at the

760 m

elevation

Hole ZKX

10739

intersected a

0.95 m

interval (

0.95 m

true width) of the new gently dipping gold vein grading 5.65 g/t Au at the

754 m

elevation

Table 1: Selected intercepts from the 2022 drilling program at the LMW mine

Hole ID

From

(m)

Elevation

(m)

Interval

(m)

True Width

(m)

(g/t)

(%)

(g/t)

(%)

Vein

Ore Type

High-Grade Silver-Lead-Zinc Veins at the West of LMW Outside Current Mining Areas

ZKX0432

185.86

186.97

787

1.11

0.75

323

0.75

0.86

0.03

0.06

Ag-Pb-Zn

ZKX0438

144.83

145.86

862

1.03

0.96

315

1.83

0.22

0.05

0.03

Ag-Pb-Zn

ZKX0460

161.61

163.12

849

1.51

1.12

217

6.49

0.19

0.03

Ag-Pb-Zn

ZKX0463

171.36

173.68

817

2.32

1.91

510

4.26

2.25

0.07

0.12

Ag-Pb-Zn

ZKX0636

146.74

147.92

963

1.18

0.91

2,511

3.45

1.01

0.05

0.38

Ag-Pb-Zn

ZKX0815

142.93

143.64

985

0.71

0.49

12.84

0.07

0.05

0.02

Ag-Pb-Zn

ZKX0819

18.49

21.56

1,082

3.07

2.17

178

1.00

0.04

0.01

0.06

Ag-Pb-Zn

ZKX0820

21.73

24.45

1,077

2.72

1.64

706

1.02

0.12

0.05

0.26

Ag-Pb-Zn

ZKX1005

53.60

54.58

897

0.98

0.95

381

5.30

0.13

0.05

0.04

Ag-Pb-Zn

ZKX14213

120.64

121.77

911

1.13

0.70

396

0.39

0.06

0.05

0.03

Ag-Pb-Zn

ZKX0815

137.63

138.40

988

0.77

0.53

1,891

1.78

0.84

0.05

0.31

W18

Ag-Pb-Zn

ZKX14214

139.43

146.01

1,039

6.58

1.19

646

3.12

0.30

0.05

0.16

W18

Ag-Pb-Zn

ZKX0819

61.43

61.93

1,049

0.50

0.35

1,212

1.27

0.49

0.01

0.49

W18E

Ag-Pb-Zn

ZKX0817

4.20

5.12

1,095

0.92

0.79

300

0.50

0.03

0.05

0.08

W1E

Ag-Pb-Zn

ZKX0818

69.16

70.07

1,055

0.91

0.80

539

0.33

0.18

0.05

0.08

W1E

Ag-Pb-Zn

ZKX0819

84.20

85.62

1,031

1.42

1.02

198

0.32

0.06

0.01

0.04

W1E

Ag-Pb-Zn

ZKX0650

105.92

106.52

993

0.60

0.32

0.01

7.13

0.09

W1E2

Ag-Pb-Zn

ZKX0450

69.19

71.38

1,031

2.19

1.36

1,216

6.77

0.61

0.05

0.18

Ag-Pb-Zn

ZKX0465

58.47

60.69

1,041

2.22

1.26

831

2.70

0.26

0.02

0.29

Ag-Pb-Zn

ZKX0636

103.95

104.67

993

0.72

0.56

667

0.56

0.27

2.61

0.38

Ag-Pb-Zn

ZKX0650

64.26

65.46

1,022

1.20

0.64

256

0.47

0.16

0.01

0.03

Ag-Pb-Zn

ZKX0651

69.77

70.70

1,052

0.93

0.54

1,537

0.60

0.15

0.03

0.34

Ag-Pb-Zn

ZKX0818

84.14

87.32

1,045

3.18

2.82

2,238

5.90

0.61

0.07

0.36

Ag-Pb-Zn

ZKX0819

118.25

119.25

1,005

1.00

0.72

1,622

1.96

0.20

0.01

0.04

Ag-Pb-Zn

ZKX0039

126.57

127.39

879

0.82

0.77

4.30

2.75

0.03

0.01

Ag-Pb-Zn

ZKX0046

132.12

133.44

817

1.32

0.75

6.62

0.39

0.05

0.01

Ag-Pb-Zn

ZKX0431

198.49

199.92

825

1.43

1.18

471

1.04

0.36

0.05

0.19

Ag-Pb-Zn

ZKX0454

175.59

176.32

861

0.73

0.66

367

5.75

1.21

0.21

0.04

Ag-Pb-Zn

ZKX14005

141.48

142.40

924

0.92

0.87

307

2.37

0.32

0.05

0.10

Ag-Pb-Zn

ZKX14404

104.79

106.35

893

1.56

150

2.34

1.22

0.05

0.03

Ag-Pb-Zn

ZKX0454

186.46

187.85

856

1.39

1.25

398

0.81

0.16

0.05

0.03

W6E

Ag-Pb-Zn

ZKX0454

243.14

243.74

832

0.60

0.54

10.14

0.39

0.05

0.00

W6E2

Ag-Pb-Zn

ZKX0438

100.57

101.58

884

1.01

0.94

1.12

0.22

1.74

0.02

W6W

Ag-Pb-Zn

ZKX0439

98.03

98.78

910

0.75

0.74

483

3.22

0.95

0.05

0.12

W6W

Ag-Pb-Zn

ZKX0634

56.04

60.07

1,031

4.03

3.43

970

16.20

0.60

0.10

0.29

W6W

Ag-Pb-Zn

ZKX13630

137.23

137.74

1,014

0.51

0.45

1,077

4.84

0.48

0.02

0.54

W6W

Ag-Pb-Zn

Low Angle Gold-Copper-Silver Veins

ZKX0082

292.17

293.61

878

1.44

0.76

0.54

0.52

13.06

1.70

LM22

Au-Ag-Cu

ZKX05X096

77.81

78.32

848

0.51

0.38

0.01

0.02

32.50

0.05

LM22

Au-Ag-Cu

ZKX05X097

84.82

85.77

855

0.95

0.72

0.00

0.03

1.63

7.39

LM22

Au-Ag-Cu

ZKX05X098

76.67

77.44

850

0.77

0.70

0.00

0.01

29.00

1.21

LM22

Au-Ag-Cu

ZKX05X100

76.16

77.14

845

0.98

0.70

0.00

0.01

3.40

0.14

LM22

Au-Ag-Cu

ZKX0+A3:U198390

60.86

61.63

640

0.77

0.58

0.01

0.03

0.92

5.43

LM26

Au-Ag-Cu

ZKX0188

16.94

17.97

737

1.03

0.97

0.00

0.01

2.88

0.00

LM26

Au-Ag-Cu

ZKX0191

86.24

89.04

662

2.80

1.64

0.07

0.01

3.21

0.29

LM26

Au-Ag-Cu

ZKX03X021

98.88

105.91

602

7.03

5.39

2,896

0.15

0.12

0.17

2.58

LM26

Au-Ag-Cu

ZKX11046

43.05

43.92

668

0.87

0.73

214

1.34

0.11

0.03

0.02

LM26

Ag-Pb-Zn

ZKX11223

44.84

51.41

670

6.57

3.20

1780

16.71

0.69

1.23

0.23

LM26

Au-Cu-Ag

ZKX11238

44.05

53.59

670

9.54

3.37

1,323

7.45

0.55

0.98

0.32

LM26

Au-Ag-Cu

ZKX0251

20.25

22.01

784

1.76

1.20

140

3.19

0.29

1.38

0.12

LM50

Au-Ag

ZKX0341

165.20

166.10

737

0.90

0.60

0.01

0.02

5.59

1.74

LM50

Au-Ag

ZKX03X054

168.91

169.90

818

0.99

0.84

0.01

0.02

2.53

0.01

LM50

Au-Ag

ZKX03X055

164.35

165.47

803

1.12

0.75

1.42

0.06

2.04

0.01

LM50

Au-Ag

ZKX0571

53.42

55.91

808

2.49

2.05

0.03

0.04

3.63

0.01

LM50

Ag-Pb-Zn

ZKX05X004

61.26

62.28

807

1.02

0.95

0.02

0.03

3.11

0.00

LM50

Ag-Pb-Zn

ZKX05X007

68.87

70.20

791

1.33

1.17

0.20

0.03

2.44

0.00

LM50

Ag-Pb-Zn

ZKX05X009

86.06

87.12

786

1.06

0.77

0.16

0.17

7.15

0.00

LM50

Ag-Pb-Zn

ZKX05X010

98.40

99.68

781

1.28

0.78

0.40

0.22

5.63

0.01

LM50

Ag-Pb-Zn

ZKX05X017

81.66

83.20

786

1.54

1.12

0.12

0.06

7.78

0.01

LM50

Ag-Pb-Zn

ZKX05X078

14.29

15.22

789

0.93

0.61

0.34

0.08

3.90

0.01

LM50

Au-Ag

ZKX05X079

6.45

10.66

794

4.21

3.42

0.38

0.13

6.36

0.00

LM50

Au-Ag

ZKX0727

73.32

74.30

804

0.98

0.74

0.13

0.17

6.71

0.00

LM50

Ag-Pb-Zn

ZKX0780

100.97

102.20

797

1.23

0.52

0.31

0.48

4.21

0.01

LM50

Ag-Pb-Zn

ZKX07X002

26.14

28.50

788

2.36

2.28

0.78

0.12

5.51

0.03

LM50

Au-Ag

ZKX07X003

22.58

23.64

786

1.06

1.00

140

3.40

0.30

5.65

0.06

LM50

Au-Ag

ZKX07X021

17.26

18.27

791

1.01

0.65

0.16

0.32

19.20

0.00

LM50

Au-Ag

ZKX07X025

18.44

20.06

792

1.62

1.16

0.10

0.13

4.04

0.00

LM50

Au-Ag

ZKX07X031

2.93

11.03

799

8.10

4.06

674

1.28

0.21

1.26

0.09

LM50

Au-Ag

ZKX07X032

6.10

11.64

796

5.54

3.78

224

2.28

0.33

1.54

0.10

LM50

Au-Ag

ZKX07X033

19.74

20.78

789

1.04

0.28

0.17

0.15

11.05

0.01

LM50

Au-Ag

ZKX07X034

12.30

13.54

791

1.24

0.80

0.08

0.03

2.65

0.01

LM50

Au-Ag

ZKX07X082

83.96

84.77

793

0.81

0.60

0.37

0.24

6.24

0.01

LM50

Ag-Pb-Zn

ZKX0996

4.16

12.75

804

8.59

2.43

412

2.33

0.19

0.42

0.24

LM50

Au-Ag

ZKX0999

7.72

18.38

803

10.66

3.78

492

1.06

0.20

2.88

0.16

LM50

Au-Ag

ZKX09X018

8.92

10.23

792

1.31

1.11

0.10

0.01

4.43

0.01

LM50

Au-Ag

ZKX1172

3.11

6.14

800

3.03

2.26

155

2.59

0.07

3.02

0.08

LM50

Au-Ag

ZKX1173

0.49

1.61

801

1.12

0.78

105

2.38

0.12

1.38

0.08

LM50

Au-Ag

ZKX1175

2.28

5.78

800

3.50

1.30

158

2.90

0.12

0.18

0.07

LM50

Au-Ag

Veins Above or Beneath Previously Mined Stopes

ZKX05X097

111.01

112.28

838

1.27

0.96

276

0.63

0.17

0.06

0.02

LM10W1

Ag-Pb-Zn

ZKX05X119

59.35

59.80

700

0.45

0.38

2,894

3.65

2.36

0.30

0.49

LM11E

Ag-Pb-Zn

ZKX0087

72.59

74.87

982

2.28

1.85

177

3.58

1.44

0.02

0.08

LM12

Ag-Pb-Zn

ZKX0343

27.05

27.62

578

0.57

0.53

645

4.95

0.45

0.02

0.05

LM12

Ag-Pb-Zn

ZKX11046

64.36

67.97

654

3.61

1.24

2,394

5.11

0.84

0.12

0.19

LM12_1

Ag-Pb-Zn

ZKX11442

128.77

129.59

514

0.82

0.70

366

9.08

0.06

0.05

0.02

LM12_1

Ag-Pb-Zn

ZKX11225

16.50

17.02

690

0.52

0.38

657

3.49

0.06

0.17

0.08

LM12_2

Ag-Pb-Zn

ZKX0198

122.51

124.07

896

1.56

1.38

947

1.08

0.62

0.05

0.39

LM12_2a

Ag-Pb-Zn

ZKX11223

23.89

35.12

684

11.23

2.6

302

2.66

0.27

0.06

LM12_2a

Ag-Pb-Zn

ZKX0199

100.62

103.07

922

2.45

1.66

212

3.04

0.09

0.07

0.01

LM12_3

Ag-Pb-Zn

ZKX01X016

93.15

94.07

906

0.92

0.58

305

2.10

0.10

0.00

0.19

LM12_3

Ag-Pb-Zn

ZKX11026

68.98

69.65

659

0.67

0.50

331

9.91

0.02

0.16

0.11

LM12a

Ag-Pb-Zn

ZKX0342

59.11

59.76

580

0.65

0.57

343

2.12

0.11

0.02

LM12E

Ag-Pb-Zn

ZKX0733

142.98

144.44

645

1.46

1.37

4,549

1.19

0.24

0.49

0.10

LM12E

Ag-Pb-Zn

ZKX09X003

30.13

31.03

577

0.90

0.86

231

10.27

0.78

0.02

0.53

LM12E

Ag-Pb-Zn

ZKX11024

97.67

98.72

631

1.05

0.74

294

0.41

0.18

0.03

0.01

LM12E

Ag-Pb-Zn

ZKX11026

89.38

90.79

648

1.41

1.05

1,270

2.06

0.44

0.18

0.06

LM12E

Ag-Pb-Zn

ZKX0198

60.64

63.57

912

2.93

2.59

909

0.33

0.39

0.05

0.50

LM13

Ag-Pb-Zn

ZKX11602

38.65

40.41

585

1.76

1.72

6.19

0.05

0.02

LM13

Ag-Pb-Zn

ZKX0097

122.72

123.65

927

0.93

0.76

143

2.21

0.19

0.02

0.16

LM13W

Ag-Pb-Zn

ZKX03X022

15.31

16.10

688

0.79

0.76

176

5.93

0.03

0.02

0.01

LM13W

Ag-Pb-Zn

ZKX03X058

52.84

53.82

942

0.98

0.82

315

2.21

0.63

0.00

0.07

LM13W

Ag-Pb-Zn

ZKX03X059

48.58

49.19

947

0.61

0.41

4,558

1.54

0.26

0.06

0.49

LM13W

Ag-Pb-Zn

ZKX0637

87.27

88.15

926

0.88

0.77

181

0.97

0.05

0.02

0.18

LM13W

Ag-Pb-Zn

ZKX11436

112.66

113.67

541

1.01

0.94

1,421

1.90

0.10

0.05

0.03

LM14

Ag-Pb-Zn

ZKX11436

127.73

128.49

533

0.76

0.70

238

1.53

0.07

0.01

0.02

LM14_1

Ag-Pb-Zn

ZKX3214

49.27

50.35

714

1.08

0.54

991

9.38

0.70

0.04

0.72

LM16_1

Ag-Pb-Zn

ZKX0755

232.70

233.97

999

1.27

1.19

126

5.01

0.20

0.03

0.02

LM17

Ag-Pb-Zn

ZKX0773

129.58

132.05

682

2.47

1.88

382

0.69

0.48

0.05

0.03

LM17

Ag-Pb-Zn

ZKX07X054

92.00

93.03

748

1.03

1.00

163

11.26

0.17

0.05

0.02

LM17

Ag-Pb-Zn

ZKX07X058

131.16

132.62

682

1.46

1.16

269

0.70

0.19

0.02

LM17

Ag-Pb-Zn

ZKX1166

126.39

127.37

745

0.98

0.88

421

1.39

0.44

0.05

0.08

LM17

Ag-Pb-Zn

ZKX1169

330.70

334.88

983

4.18

0.94

284

10.42

0.76

0.06

LM17

Ag-Pb-Zn

ZKX1343

143.16

148.20

778

5.04

2.78

225

1.77

0.35

0.05

0.03

LM17

Ag-Pb-Zn

ZKX05X113

73.34

74.68

773

1.34

1.32

1,823

6.62

6.64

0.05

0.40

LM17a

Ag-Pb-Zn

ZKX07X058

122.27

125.76

691

3.49

2.78

323

1.96

0.28

0.02

0.12

LM17a

Ag-Pb-Zn

ZKX09X007

97.42

99.21

762

1.79

1.75

573

0.29

0.08

0.05

0.28

LM17a

Ag-Pb-Zn

ZKX1343

129.52

130.48

780

0.96

0.80

314

6.53

0.13

0.05

LM17a

Ag-Pb-Zn

ZKX07X058

97.56

99.63

713

2.07

1.65

7.38

0.17

0.02

0.08

LM17W

Ag-Pb-Zn

ZKX0978

195.61

196.31

1,067

0.70

0.65

852

0.17

0.37

0.05

0.35

LM17W

Ag-Pb-Zn

ZKX10948

191.52

192.06

762

0.54

0.43

278

2.77

0.16

0.08

0.03

LM17W

Ag-Pb-Zn

ZKX1187

109.39

110.30

773

0.91

0.49

309

0.51

0.08

0.02

0.18

LM17W

Ag-Pb-Zn

ZKX3214

138.14

139.46

682

1.32

1.28

4.45

0.35

0.02

0.01

LM17W

Ag-Pb-Zn

ZKX0755

152.87

154.27

1,034

1.40

1.31

223

0.06

0.08

0.03

0.06

LM17W2

Ag-Pb-Zn

ZKX07X053

12.30

13.59

802

1.29

1.23

1,050

1.25

0.60

0.05

0.15

LM17W2

Ag-Pb-Zn

ZKX0954

152.84

153.44

1,062

0.60

237

0.36

0.16

0.05

0.09

LM17W2

Ag-Pb-Zn

ZKX0955

199.62

200.15

925

0.53

0.41

2,449

1.10

0.48

0.02

0.21

LM17W2

Ag-Pb-Zn

ZKX09X008

156.15

157.72

1,044

1.57

1.14

293

0.13

0.07

0.05

0.02

LM17W2

Ag-Pb-Zn

ZKX09X053

165.35

166.04

1,090

0.69

0.67

296

1.65

0.33

0.05

0.19

LM17W2

Ag-Pb-Zn

ZKX1167

4.83

5.88

802

1.05

531

0.62

0.42

0.05

0.03

LM17W2

Ag-Pb-Zn

ZKX0058

38.87

39.49

778

0.62

235

0.86

0.12

0.02

0.05

LM19

Ag-Pb-Zn

ZKX0059

46.56

47.65

787

1.09

0.99

227

0.16

0.02

0.05

0.01

LM19

Ag-Pb-Zn

ZKX0090

69.68

70.28

941

0.60

0.48

594

0.81

0.03

0.10

LM19

Ag-Pb-Zn

ZKX0251

4.40

7.20

797

2.80

1.91

180

0.65

0.08

0.05

0.03

LM19

Ag-Pb-Zn

ZKX0258

97.88

99.34

929

1.46

0.89

191

3.89

0.31

0.02

0.06

LM19

Ag-Pb-Zn

ZKX03X058

16.42

17.25

968

0.83

0.65

173

1.73

0.17

0.01

LM19

Ag-Pb-Zn

ZKX10213

71.19

72.62

956

1.43

1.21

456

0.08

0.05

LM19

Ag-Pb-Zn

ZKX0231

46.09

46.79

940

0.70

0.64

379

1.30

0.03

0.05

0.10

LM19a

Ag-Pb-Zn

ZKX00X003

18.00

21.13

925

3.13

3.02

494

3.57

0.22

0.04

0.19

LM19E

Ag-Pb-Zn

ZKX0343

6.51

7.02

593

0.51

1.10

148

6.52

0.33

0.02

0.04

LM19E

Ag-Pb-Zn

ZKX0190

29.43

29.97

686

0.54

0.53

369

11.19

0.14

0.07

0.09

LM19W

Ag-Pb-Zn

ZKX03X022

10.76

11.88

691

1.12

1.07

400

0.39

0.14

0.23

LM19W

Ag-Pb-Zn

ZKX0552

24.22

25.35

743

1.13

1.12

223

0.93

0.16

0.02

0.06

LM19Wa

Ag-Pb-Zn

ZKX05X119

34.25

34.79

721

0.54

0.45

2,153

2.50

0.26

0.05

0.75

LM19Wa

Ag-Pb-Zn

ZKX11021

141.58

142.21

605

0.63

0.39

1,393

10.40

0.34

0.78

0.54

LM20

Ag-Pb-Zn

ZKX03X026

50.24

52.73

777

2.49

2.47

199

5.20

0.62

13.37

0.06

LM20E

Ag-Pb-Zn

ZKX05X077

37.90

38.41

776

0.51

0.50

373

1.64

0.07

0.02

0.04

LM20E

Ag-Pb-Zn

ZKX09X006

37.96

43.60

593

5.64

4.86

247

3.26

0.47

0.02

0.05

LM20E

Ag-Pb-Zn

ZKX0258

197.39

200.72

884

3.33

1.98

0.01

4.15

0.01

LM21

Ag-Pb-Zn

ZKX05X080

43.10

44.31

761

1.21

1.04

0.01

8.53

0.01

LM21

Ag-Pb-Zn

ZKX09X056

61.23

62.44

728

1.21

1.15

376

0.40

0.06

0.02

0.12

LM21

Ag-Pb-Zn

ZKX11436

42.56

43.78

576

1.22

1.13

122

2.14

0.10

0.02

LM32

Ag-Pb-Zn

ZKX11409

64.36

65.01

580

0.65

0.56

300

4.08

0.08

0.05

0.08

LM32E1

Ag-Pb-Zn

ZKX11411

60.71

61.73

575

1.02

0.94

271

0.17

0.13

0.18

0.04

LM32E1

Ag-Pb-Zn

ZKX11612

74.12

74.62

565

0.50

0.39

225

4.66

0.26

0.01

0.04

LM33

Ag-Pb-Zn

ZKX0053

18.20

26.24

785

8.04

6.75

210

3.23

0.14

0.42

0.35

LM7

Ag-Pb-Zn

ZKX0055

35.28

36.46

775

1.18

1.12

181

1.18

0.08

0.05

0.03

LM7

Ag-Pb-Zn

ZKX0077

32.13

33.11

788

0.98

0.95

0.31

1.52

2.02

1.70

LM7

Ag-Pb-Zn

ZKX0089

146.99

148.45

938

1.46

1.06

145

3.04

0.01

0.02

0.01

LM7

Ag-Pb-Zn

ZKX0229

139.75

140.69

929

0.94

0.80

641

1.66

0.10

0.05

0.06

LM7

Ag-Pb-Zn

ZKX03X014

156.63

157.93

911

1.30

1.05

477

1.12

0.03

0.13

0.14

LM7

Ag-Pb-Zn

ZKX03X015

130.12

131.12

875

1.00

0.91

948

0.66

0.09

0.05

0.17

LM7

Ag-Pb-Zn

ZKX05X075

107.56

111.72

764

4.16

3.72

360

1.75

0.59

9.15

0.24

LM7

Ag-Pb-Zn

ZKX05X080

112.84

113.82

698

0.98

0.85

248

0.98

0.04

0.02

LM7

Ag-Pb-Zn

ZKX07X003

34.16

47.47

778

13.31

12.80

365

0.71

0.13

0.06

0.33

LM7

Ag-Pb-Zn

ZKX07X030

60.65

64.80

774

4.15

3.79

447

0.63

0.05

0.02

0.13

LM7

Ag-Pb-Zn

ZKX07X073

98.47

104.92

721

6.45

5.95

291

3.88

0.14

0.02

0.11

LM7

Ag-Pb-Zn

ZKX1180

94.00

96.56

678

2.56

2.25

169

1.29

0.08

0.02

0.57

LM7

Ag-Pb-Zn

ZKX03X016

111.91

113.12

869

1.21

1.13

434

0.37

0.04

0.05

0.06

LM7a

Ag-Pb-Zn

ZKX0148

127.40

128.25

512

0.85

0.69

164

3.71

0.06

0.02

0.05

LM7E

Ag-Pb-Zn

ZKX0058

50.75

54.15

771

3.40

3.39

1,181

2.49

0.24

0.12

0.21

LM7W

Ag-Pb-Zn

ZKX0063

55.17

57.94

754

2.77

2.59

1,025

1.16

0.22

0.05

0.11

LM7W

Ag-Pb-Zn

ZKX0250

6.50

10.03

796

3.53

2.55

466

0.57

0.05

0.09

LM7W

Ag-Pb-Zn

ZKX07X003

13.45

17.35

792

3.90

3.74

373

2.66

0.06

0.20

0.06

LM7W

Ag-Pb-Zn

ZKX07X068

49.48

52.67

721

3.19

3.07

331

0.77

0.42

0.02

0.06

LM7W

Ag-Pb-Zn

ZKX0990

76.97

77.85

861

0.88

0.86

125

2.40

0.16

0.05

0.02

LM7W

Ag-Pb-Zn

ZKX09X001

48.36

54.14

575

5.78

5.53

531

1.06

0.37

0.02

0.19

LM7W

Ag-Pb-Zn

ZKX09X015

103.78

105.12

749

1.34

0.77

368

2.99

1.45

0.02

0.21

LM7W

Ag-Pb-Zn

ZKX09X027

57.79

58.59

720

0.80

356

0.71

0.54

0.02

LM7W

Ag-Pb-Zn

ZKX09X056

56.45

57.31

730

0.86

0.82

823

0.54

0.06

0.02

0.09

LM7W

Ag-Pb-Zn

ZKX09X057

59.00

61.54

732

2.54

2.42

219

0.81

0.41

0.02

0.11

LM7W

Ag-Pb-Zn

ZKX1513

62.91

64.29

718

1.38

1.02

218

0.89

0.82

0.02

LM7W

Ag-Pb-Zn

ZKX0230

33.80

34.81

954

1.01

0.91

271

0.54

0.05

0.10

0.17

LM7W1

Ag-Pb-Zn

ZKX09X002

41.08

42.17

586

1.09

1.00

242

2.02

0.36

0.02

0.19

LM7W1

Ag-Pb-Zn

ZKX09X056

40.45

48.27

736

7.82

7.43

250

0.60

0.07

0.02

0.04

LM8

Ag-Pb-Zn

ZKX07X031

12.09

13.95

792

1.86

0.93

498

1.37

0.22

0.02

0.03

LM8_1

Ag-Pb-Zn

ZKX10608

43.33

44.51

774

1.18

1.03

399

0.60

0.03

0.07

0.03

LM8_2

Ag-Pb-Zn

ZKX10837

102.53

103.04

879

0.51

0.32

1,337

25.77

8.77

0.02

0.12

LM8_4a

Ag-Pb-Zn

ZKX11006

149.12

150.02

870

0.90

0.52

1,101

1.08

0.43

0.05

0.06

LM8_4a

Ag-Pb-Zn

ZKX10831

102.45

103.13

885

0.68

0.35

882

35.24

1.67

0.02

0.09

LM8_4E

Ag-Pb-Zn

ZKX07X028

41.67

42.82

734

1.15

1.09

181

23.06

2.03

0.02

0.01

LM8a

Ag-Pb-Zn

ZKX07X002

11.85

12.39

796

0.54

0.52

562

1.35

0.07

0.05

0.20

LM8W

Ag-Pb-Zn

ZKX07X004

10.33

11.55

799

1.22

1.11

427

1.73

0.07

0.02

0.07

LM8W

Ag-Pb-Zn

ZKX07X020

9.02

12.33

797

3.31

3.10

152

1.34

0.03

0.02

LM8W

Ag-Pb-Zn

ZKX03X040

6.82

8.00

907

1.18

0.73

404

0.15

0.16

0.01

0.03

N/A

Ag-Pb-Zn

ZKX0431

189.20

190.30

830

1.10

0.91

477

3.26

0.79

0.05

0.04

N/A

Ag-Pb-Zn

ZKX0436

279.65

280.37

710

0.72

0.52

341

1.23

0.46

0.09

0.03

N/A

Ag-Pb-Zn

ZKX0454

57.83

58.69

912

0.86

0.77

184

0.31

0.22

0.05

0.04

N/A

Ag-Pb-Zn

ZKX0749

203.25

204.74

917

1.49

1.07

850

0.78

0.46

0.05

0.51

N/A

Ag-Pb-Zn

ZKX07X073

19.19

20.00

745

0.81

0.75

335

2.23

0.06

0.02

0.22

N/A

Ag-Pb-Zn

ZKX1166

47.45

47.97

781

0.52

0.47

501

3.08

0.33

0.05

0.20

N/A

Ag-Pb-Zn

ZKX1343

41.39

42.41

796

1.02

0.85

206

1.89

0.21

0.05

0.06

N/A

Ag-Pb-Zn

High-Grade Silver-Lead-Zinc Veins and a new gold structure at the

East Side of the Resource Area

ZKX07X076

67.73

68.34

789

0.61

0.58

339

3.05

0.50

0.02

0.07

LM41E

Ag-Pb-Zn

ZKX09X031

93.91

94.88

719

0.97

0.79

187

5.44

0.28

0.05

0.08

LM41E

Ag-Pb-Zn

ZKX09X032

77.77

78.70

737

0.93

0.65

190

1.99

0.18

0.02

0.09

LM41E

Ag-Pb-Zn

ZKX09X033

106.67

109.00

702

2.33

1.58

331

1.27

0.13

0.05

0.08

LM41E

Ag-Pb-Zn

ZKX10944

103.54

105.03

776

1.49

1.40

541

0.58

0.07

0.04

0.06

LM41E

Ag-Pb-Zn

ZKX10944

153.01

155.14

763

2.13

2.00

478

2.14

0.90

5.97

0.08

N/A

Au-Ag

ZKX10949

97.37

97.91

765

0.54

0.52

495

0.60

0.10

0.05

0.06

LM41E

Ag-Pb-Zn

ZKX1143

58.13

61.24

754

3.11

2.40

993

1.35

0.54

0.05

0.12

LM41E

Ag-Pb-Zn

ZKX1166

53.63

54.99

778

1.36

1.23

2,415

2.61

0.40

0.05

0.90

LM41E

Ag-Pb-Zn

ZKX1187

49.67

50.54

789

0.87

0.79

433

1.31

0.23

0.02

0.05

LM41E

Ag-Pb-Zn

ZKX09X034

98.86

100.48

717

1.62

1.00

341

16.78

1.32

0.15

0.09

LM41E1

Ag-Pb-Zn

ZKX09X033

102.05

103.35

706

1.30

0.88

1,976

1.74

0.45

0.79

0.23

LM41E1Wa

Ag-Pb-Zn

ZKX1166

39.51

40.37

785

0.86

0.78

850

0.64

0.23

0.05

0.06

LM41E1Wa

Ag-Pb-Zn

ZKX10735

68.32

69.50

760

1.18

0.01

0.04

5.37

0.00

N/A

ZKX10739

73.70

74.65

754

0.95

0.02

0.03

5.65

0.00

N/A

[1]

New, unnamed veins

Tunneling Programs at the LMW Mine

A total of

3,566 m

of exploration tunnels have been developed at the LMW mine during this period. The exploration tunneling, comprised of drifting, cross-cutting

and raising, was driven along and across major mineralized vein structures to upgrade the drill-defined mineral resources, and to test for new parallel and splay

structures.

Quality Control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contacts or shear/alteration contacts, were split into halves by saw cutting. 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 1mm 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 with two-acids 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

0.4 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 1mm 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 CRM, 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 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.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", "anticipates", "believes", "plans", "projects", "estimates",

"assumes", "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

expressions) are not statements of historical fact and may be forward-looking statements or information. Forward-looking statements or information relate to,

among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties;

the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated

production from the Company's mines in the Ying Mining District; timing of receipt of permits and regulatory approvals; availability of funds from production to

finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the

Company's properties.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events

or results to differ from those reflected in the forward-looking statements or information, including, without limitation, social and economic impacts of COVID-

19; risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations

and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and

licenses; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and

conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production;

integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in

China

and

Canada; environmental risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; foreign exchange rate

fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial

reporting as per the requirements of the Sarbanes-Oxley Act; and bringing actions and enforcing judgments under U.S. securities laws.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or

information 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 or information 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, 2021

under the heading "Risk Factors". Although the

Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be

as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of

this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements

and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting

such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

CAUTIONARY NOTE TO US INVESTORS

The technical and scientific information contained herein has been prepared in accordance with NI 43-101, which differs from the standards adopted by the

U.S. Securities and Exchange Commission (the "SEC"). Accordingly, the technical and scientific information contained herein, including any estimates of

mineral reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of

the SEC.

Additional information relating to the Company, including Silvercorp's Annual Information Form, can be obtained under the Company's profile on SEDAR at

www.sedar.com

, on EDGAR at

www.sec.gov

, and on the Company's website at

www.silvercorpmetals.com

View original content to download multimedia:

https://www.prnewswire.com/news-releases/silvercorp-intercepts-new-high-grade-structures-at-lmw-mine-ying-mining-distrct-china-including-vein-lm26--5-39-metres-true-width-grading-2-896-grams-per-tonne-silver-and-2-58-copper-301642500.html

SOURCE

Silvercorp Metals Inc

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/October2022/06/c3668.html

%SEDAR: 00006210E

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

CO: Silvercorp Metals Inc

CNW 07:30e 06-OCT-22

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