Silvercorp Renews Mining License at Ying Mining District
NEWS RELEASE
Trading Symbol TSX: SVM
NYSE AMERICAN: SVM
Silvercorp Renews Mining License at Ying Mining District
VANCOUVER, British Columbia – October 8, 2024 – Silvercorp Metals Inc. (“Silvercorp” or the
“Company”) (TSX / NYSE American: SVM) is pleased to announce that the SGX Mine permit has
been renewed for another 11 years with an increased capacity of 500,000 tonnes per year, based
on the information posted on the website of the Mineral Rights Administration of the Department of
Natural Resources of Henan Province. The Yuelianggou Mining License (the “License”) containing
the SGX and HZG silver -lead-zinc mines, located in the western part of the Ying Mining District ,
has been renewed until September 24, 2035 with an increase in production capacity to 500,000
tonnes per year.
To renew a mining permit, the Company is required to complete a series of studies and reports,
including a Mineral Resource estimate to Chinese standards, a mine development plan, a mine
reclamation plan, an environment and soil preservation plan, an Environment Impact Study update,
and a safety production facility construction design. All these studies are required to be reviewed
by independent panels and then filed with government authorities.
Subject to a final assessment of historical government investment in the License area which may
result in certain payments, the License in paper certificate will be issued to Silvercorp. Currently,
the SGX and HZG mines are operating normally and is also working on the mine optimization plan
to achieve allowed production capacity of 500,000 tonnes per year.
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) a long-term
commitment to responsible mining and ESG. For more information, please visit our website at
www.silvercorpmetals.com.
For further information:
Silvercorp Metals Inc.
Lon Shaver, President
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 news 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 and US
securities laws (collectively, “forward -looking statements”). 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”, “goal s”, “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. Forward-looking statements relate to, among other things: the price of silver and other
metals; foreign exchange rates; 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 operation costs, and capital
expenditures; estimated production from the Company’s; 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;\.
Actual results may vary from forward -looking statements. Forward-looking statements 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, including, without
limitation, 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 all necessary permits, licenses and regulatory approvals for our operations are
received in a timely manner; 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,
Canada and Ecuador; environmental risks; regulatory investigations, claims and legal proceeding,
foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key
personnel; conflicts of interest; dependence on management; global economic and social impact
of COVID-19; internal control over financial reporting; 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. Forward -looking statements 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 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 he ading “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 forward -looking
statements.
The Company’s forward -looking statements are based on the assumptions, beliefs, expectations
and opinions of management as of the date of this news release, and other than as required by
applicable securities laws, the Company does not assume any obligation to update forward-looking
statements if circumstances or management’s assumptions, beliefs, expectations or opinions
should change, or changes in any other events affecting such statements. Assumptions may prove
to be incorrect and actual results may dif fer materially from those anticipated. Consequently,
guidance cannot be guaranteed. For the reasons set forth above, investors should not place undue
reliance on forward-looking statements.
A comprehensive discussion of risks that impact Silvercorp, and additional information relating to
the Company including Silvercorp’s Annual Information Form can be obtained under the
Company’s profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the
Company’s website at www.silvercorpmetals.com.