Silvercorp Intersects 3,363 G/T Silver and 2.06% Lead over 2 Meters, 1.2 Meters True Width, from Its 2017-2018 Drilling Program at the Lmw MINE

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NEWS RELEASE

Trading Symbol: TSX: SVM

NYSE American: SVM

SILVERCORP INTERSECTS 3,363 G/T SILVER AND 2.06% LEAD OVER 2 METERS, 1.2 METERS

TRUE WIDTH, FROM ITS 2017-2018 DRILLING PROGRAM AT THE LMW MINE, YING MINING

DISTRICT, CHINA

VANCOUVER, British Columbia – June 2 6, 2018 – Silvercorp Metals Inc. ("Silvercorp” or the

“Company”) (TSX / NYSE American: SVM) is pleased to report results of its exploration programs

from July 1, 2017 to March 31, 2018 at the LMW mine, Ying Mining District, Henan Province,

China. Results over the same period for the SGX, and TLP/LME mines in the Ying Mining District

were respectively reported on June 8 and June 18, 2018.

Exploration program at the LMW mine consisted of 14,313 meters (“m”) underground diamond

drilling and 5,151m exploration tunneling. Results of underground drilling continuously

extended the major mineralized vein structures along strike and downdip and exploration

tunneling exposed high grade mineralization zones within major production vein structures.

Highlights of selected intersections of drill holes:

 Hole ZKX113PA01 intersected a 2m interval from 53.21m to 55.21m, 1.20m true width, of

vein W18 grading 3,363 grams per tonne (“g/t”) silver (“Ag”) , 2.06% lead (“Pb”), and 0.21%

Zn at the 962m elevation;

 Hole ZKX12263 intersected a 3.88m interval from 139.92m to 143.80m, 1.37m true width ,

of vein LM27 grading 778g/t Ag, 0.79% Pb and 0.16% Zn at the 520m elevation; and

 Hole ZKX11451 intersected a 3.37m interval from 108.54m to 111.91m, 2.87m true width,

of vein LM31W grading 309g/t Ag, 8.26% Pb and 2.87% Zn at the 520m elevation.

The underground drilling program is conducted with 3 underground rigs from the current

production levels to delineate the downdip and along -strike extensions of known mineralized

vein structures in the production area and test for new veins in the previous less-explored areas.

The drilling program from July 1, 2017 to March 31, 2018 at LMW mine is briefly summarized in

the following table:

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Major Target Veins Meters

Drilled

Holes

Completed

Samples

Collected

Holes with

Assay

Received

Holes

Intersected Vein

Structures

Holes Intersected

Mineralization**

LM19, LM19W, LM30,

LM31, LM33, LM34,

W18

13,313 47 773 53* 53 17

*Including 7 holes completed in the first half of 2017; 1 hole drilled in the first quarter of 2018 with assay pending.

**Mineralized intersection in drill holes is defined by silver equivalent value (AgEq) greater than or equal to 130 g/t.

Highlights of selected mineralization zones exposed in exploration drift tunnels:

 Drift Tunnel XPDS-LM16-770-113NYM exposed mineralization of 90m long and 0.60 m wide

(true width) grading 454g/t Ag, 5.14% Pb and 0.21% Zn within vein structure LM16 on the

770m level;

 Drift Tunnel PD991-LM14-886-113Extension exposed mineralization of 41m long and 0.33m

wide (true width) grading 810g/t Ag, 7.12% Pb and 0.42% Zn within vein structure LM14 on

the 886m level; and

 Drift Tunnel XPDN-LM8-700-110SNYM exposed mineralization of 70m long and 0.40m wide

(true width) grading 429g/t Ag, 1.00% Pb and 0.1 9% Zn within vein structure LM8 on the

700m level.

The exploration tunneling, comprising drifting, crosscutting and r aising, was driven along and

across major mineralized vein structures to upgrade drill defined mineral resources and test for

new parallel and splay structures. Exploration tunneling of the 2017 -2018 exploration program

at LMW has been mainly conducted between elevation levels 500m and 1080m.

The tunneling program from July 1, 2017 to March 31, 2018 at LMW mine is briefly summarized

in the following table:

Major Target Veins

Total

Tunneling

(m)

Channel

Samples

Collected

Drift

Tunneling

Included (m)

Total Mineralization* Exposed by Drift Tunneling

Length

(m)

Average True

Width (m)

Ag

(g/t)

Pb

(%)

Zn

(%)

LM7, LM7E, LM8, LM12, LM15,

LM17, LM19W1, LM19W2,

LM28, LM32E

5,151 1,857 3,627 1,713 0.50 417 2.89 0.39

*Mineralization is defined by silver equivalent value (AgEq) greater than or equal to 130 g/t.

Tables 1 and 2 below list the assay results of some selected mineralized intersections in drill

holes and mineralized zones exposed in drift tunnels in the exploration programs from July 1,

2017 to March 31, 2018.

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Table 1: Selected drilling results from the drilling program at the LMW mine

Hole ID From

(m) To (m) Elevation

(m)

Sample

Length

(m)

True

Width

(m)

Ag

(g/t)

Pb

(%)

Zn

(%) Vein Remarks

ZKX11852 78.74 79.76 533 1.02 0.77 92 11.90 0.36 LM32 Stepout

ZKX102N02 285.98 286.63 450 0.65 0.39 169 0.38 0.06 LM14 Stepout

ZKX11451 108.54 111.91 520 3.37 2.87 309 8.26 0.65 LM31W Test

ZKX114WG01 258.88 259.23 839 0.35 0.27 71 7.99 4.17 W18 Test

ZKX100N02 130.04 130.41 555 0.37 0.20 81 4.67 0.68 LM30W1 Test

ZKX11641 284.27 285.94 374 1.67 0.16 271 0.64 0.13 LM34 Test

ZKX115PA01 51.92 52.43 971 0.51 0.27 116 0.56 0.08 W18 Test

89.60 89.86 955 0.26 0.14 143 0.93 0.44 W18W Test

ZKX117PA01 64.75 65.53 967 0.78 0.27 586 6.91 0.49 W18 Test

ZKX12262 308.34 308.73 495 0.39 0.31 32 4.01 0.08 LM19 Test

ZKX114WD01 368.28 368.57 763 0.29 0.28 536 0.61 1.36 LM31 Test

ZKX113PA01 53.21 55.21 962 2.00 1.20 3,363 2.06 0.21 W18 Test

ZKX12263 23.76 24.34 585 0.58 0.50 11 2.93 1.21 LM31W Stepout

139.92 143.80 520 3.88 1.37 778 0.79 0.16 LM27 Test

ZKX12061 86.35 87.22 559 0.87 0.78 16 4.74 0.02 LM28 Test

ZKX11471 236.03 236.97 638 0.94 0.88 134 8.71 0.44 LM8_3 Test

309.83 310.80 598 0.97 0.92 500 22.36 19.22 LM8_1 Test

*Test: intersections in open areas without known mineralization for new resource delineation

**Stepout: intersections adjacent to existing resource blocks for resource expansion

Table 2: Selected mineralized zones exposed by drift tunneling at the LMW mine

Tunnel ID Target

Vein

Level

(m)

Length

(m)

True Width

(m) Ag (g/t) Pb (%) Zn (%)

XPDN-LM7-750-5NYM LM7 750 45 0.91 165 2.21 0.20

PD924-LM7W-898-0NYM LM7W 898 25 0.25 262 1.45 0.14

XPDN-LM7W-735-7SYM LM7W 735 40 0.41 349 1.33 0.10

XPDN-LM8-700-110SNYM LM8 700 70 0.40 429 1.00 0.19

XPDN-LM8-650-108NYM LM8 650 35 0.51 228 1.35 0.17

XPDN-LM8-3-750-106NYM LM8_3 750 40 0.44 35 5.13 0.24

PD990-LM12E-990-13SYM LM12E 990 20 0.85 1,071 4.16 0.59

PD991-LM14-886-113Extension LM14 886 41 0.33 810 7.12 0.42

XPDS-LM16-770-113NYM LM16 770 90 0.60 454 5.14 0.21

XPDS-LM17W1-725-40SYM LM17W1 725 30 0.26 121 5.70 0.15

XPDN-LM19W1-700-3NYM LM19W1 700 20 0.71 375 2.23 0.82

SJ969-LM19W2-600-120NYM LM19W2 600 20 0.71 1,034 2.12 0.40

XPDN-LM28-650-114SYM LM28 650 75 0.70 132 3.30 0.17

PD969SJ-LM32E-600-112NSYM LM32E 600 35 0.59 395 6.11 0.22

PD969SJ-LM32E1-600-112NYM LM32E1 600 45 0.30 396 2.71 0.26

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Quality Control

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

shear/alteration contact, were split into halves by saw cutting. The half cores are stored in the

Company's core shacks for future reference and checking, and the ot her half core samples are

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

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

Zhengzhou Nonferrous Exploration Institute Lab in Zhengzhou, Henan Province, China. Both labs

are ISO9000 certified analytical labs. For analysis the sample is dried and crushed to minus 1mm

and then split to a 200 -300g 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 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 5m along strike.

Both the mineralized vein and the altered wall rocks are cut with continuous chis el chipping.

Sample length ranges from 0.2m to more than 1m, 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 comple x 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 service. 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 at the laboratory archives. Gold is analysed by

fire assay with AAS finish, and 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 (CRM s), pulp duplicates and blanks

are inserted into each lab batch of 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 practice s 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 about 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.

Ruijin Jiang, P. Geo, reviewed the exploration data and prepared t he scientific and technical

information regarding exploration results contained herein . 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.

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About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China.

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

Lorne Waldman

Senior 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 press release constitute “forward -looking

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