Silvercorp Provides Management Updates
NEWS RELEASE
Trading Symbol TSX: SVM
NYSE American: SVM
SILVERCORP PROVIDES MANAGEMENT UPDATES
VANCOUVER, British Columbia – September 5, 2023 – Silvercorp Metals Inc. (“Silvercorp” or
the “Company” ) (TSX: SVM) (NYSE American: SVM) is pleased to report changes to its
management t eam effective immediately to prepare the Company for its future growth
initiatives.
Lon Shaver, Silvercorp’s current Vice President, will be promoted to the position of President
of the Company. Lon joined Silvercorp in August 2018, with responsibility for investor relations
and corporate development.
Luke Sun, based in Vancovuer, currently Accounting Manager, will be promoted to the position
of Controller. Luke first joined Silvercorp in September 2014, and ha d held a number of
positions in the accounting department, managing financial reporting, regulatory compliance,
internal controls and operational analysis.
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
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involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or
future events or perfor mance (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 an d 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 fluctuation s; 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 under the heading
“Risk Factors” and in the Company’s Annual Report on Form 40-F, and in the Company’s other filings with Canadian
and U.S securities regulators. 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 forwar d-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 ass ume 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.
Additional information related 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.
CAUTIONARY NOTE TO US INVESTORS
The disclosure in this news release and referred to herein was prepared in accordance with NI 43-101 which differs
significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms “proven
mineral reserve,” “probable mineral reserve” and “mineral reserves” used in this news release are in reference to the
mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the “CIM Definition
Standards”), which definitions have been adopted by NI 43 -101. Accordingly, information contained in this news
release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar
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information made public by other U.S. companies subject to the United States federal securities laws and the rules
and regulations thereunder.
Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves.
Pursuant to CIM Definition Standards, “Inferred mineral resources” are that part of a mineral resource for which
quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological
evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource
has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a
mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded
to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral
resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned
not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of
“contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only
permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and
grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the
SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300
of Regulation S -K of the United State s Securities Act of 1933, as amended (the “SEC Modernization Rules”), with
compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules
replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption
of the SEC Modernization Rules, the SEC now recognizes estimates of “Measured Mineral Resources,” “Indicated
Mineral Resources” and “Inferred Mineral Resources.” In addition, the SEC has amended its defini tions of “Proven
Mineral Reserves” and “Probable Mineral Reserves” to be substantially similar to corresponding definitions under
the CIM Definition Standards. During the period leading up to the compliance date of the SEC Modernization Rules,
information regarding mineral resources or reserves contained or referenced in this news release may not be
comparable to similar information made public by companies that report according to U.S. standards. While the SEC
Modernization Rules are purported to be “subst antially similar” to the CIM Definition Standards, readers are
cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards.
Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as “proven
mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and
“inferred mineral resources” under NI 43-101 would be the same had the Company prepared the reserve or resource
estimates under the standards adopted under the SEC Modernization Rules.