Silvercorp Reports Operational Results and Financial Results Release Date for the Third Quarter, Fiscal 2025
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NEWS RELEASE
Trading Symbol: TSX/NYSE American: SVM
Silvercorp Reports Operational Results and Financial Results Release Date
for the Third Quarter, Fiscal 2025
VANCOUVER, British Columbia – January 15, 2025 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”)
(TSX/NYSE American: SVM) reports production and sales figures for the third quarter of fiscal 2025 ended
December 31, 2024 (“Q3 Fiscal 2025”). Silvercorp expects to release its Q3 Fiscal 2025 unaudited financial
results on Tuesday, February 11, 2025, after market close.
Q3 Fiscal 2025 Operational Results
• Record revenue of approximately $83.6 million, an increase of 43% over the same quarter last year
(“Q3 Fiscal 2024”);
• Ore mined of 383,543 tonnes, up 11% over Q3 Fiscal 2024;
• Ore milled of 361,810 tonnes, up 16% over Q3 Fiscal 2024;
• Silver production of 1.9 million ounces, an increase of 16% over Q3 Fiscal 2024; silver equivalent
(only silver and gold) i production of approximately 2.1 million ounces, compared to 1.8 million
ounces in Q3 Fiscal 2024;
• Lead production of approximately 17.1 million pounds, an increase of 2% over Q3 Fiscal 2024;
• Zinc production of approximately 6.7 million pounds, a decrease of 10% over Q3 Fiscal 2024; and
• Inventory stockpile ores at the Ying Mining District of approximately 145 thousand tonnes will be
processed during the Chinese New Year holidays in the fourth quarter.
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Consolidated Operational Results for the Three Months Ended December 31, 2024 and 2023
Q3 Fiscal 2025 Q3 Fiscal 2024
Ying Mining
District GC Consolidated
Ying Mining
District GC Consolidated
Production Data
Ore Mined (tonnes) 297,246 86,297 383,543 245,606 99,667 345,273
Ore Milled (tonnes)
Gold ore 21,912 — 21,912 12,726 — 12,726
Silver ore 255,783 84,115 339,898 201,475 98,299 299,774
277,695 84,115 361,810 214,201 98,299 312,500
Head Grades
Silver (grams/tonne) 214 77 235 68
Lead (%) 2.7 1.1 3.5 1.1
Zinc (%) 0.5 2.7 0.7 2.7
Recovery Rates
Silver (%) 94.7 82.8 94.9 80.3
Lead (%) 94.0 90.3 94.8 90.9
Zinc (%) 68.9 90.3 71.4 90.1
Metal Production
Gold (ounces) 2,056 — 2,056 1,342 — 1,342
Silver (in thousands of ounces) 1,778 168 1,946 1,511 173 1,684
Silver equivalent (in thousands of ounces) 1,951 168 2,119 1,622 173 1,795
Lead (in thousands of pounds) 15,234 1,853 17,087 14,552 2,211 16,763
Zinc (in thousands of pounds) 2,250 4,418 6,668 2,153 5,251 7,404
Metals Sold
Gold (ounces) 1,875 — 1,875 1,342 — 1,342
Silver (in thousands of ounces) 1,788 163 1,951 1,536 167 1,703
Lead (in thousands of pounds) 15,209 1,863 17,072 14,194 2,054 16,248
Zinc (in thousands of pounds) 2,203 4,402 6,605 2,215 5,105 7,320
At the Ying Mining District, a total of 297,246 tonnes of ore were mined in Q3 Fiscal 2025, up 21% over
Q3 Fiscal 2024, and 277,695 tonnes of ore were milled, up 30% over Q3 Fiscal 2024. Approximately 1.8
million ounces of silver, 2,056 ounces of gold, 2.0 million ounces of silver equivalent, 15.2 million pounds
of lead, and 2.3 million pounds of zinc were produced, representing production increases of 53%, 18%,
20%, 5%, and 5%, respectively, in gold, silver, silver equivalent, lead and zinc over Q3 Fiscal 2024. Inventory
stockpile ores at the Ying Mining District of approximately 145 thousand tonnes will be processed during
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the Chinese New Year holidays in the fourth quarter as the 1,500 tonnes per day mill expansion has been
in operation since November 2024.
At the GC Mine, 86,297 tonnes of ore were mined, down 13% over Q3 Fiscal 2024, and 84,115 tonnes of
ore were milled, down 14% over Q3 Fiscal 2024. Approximately 168 thousand ounces of silver, 1.9 million
pounds of lead, and 4.4 million pounds of zinc were produced, representing decreases of 3%, 16% and
16%, respectively, in silver, lead and zinc over Q3 Fiscal 2024.
Consolidated Operational Results for the Nine Months Ended December 31, 2024 and 2023
Nine monthes ended December 31, 2024 Nine months ended December 31, 2023
Ying Mining
District GC Consolidated
Ying Mining
District GC Consolidated
Production Data
Ore Mined (tonnes) 825,371 263,459 1,088,830 679,990 241,968 921,958
Ore Milled (tonnes)
Gold ore 47,463 — 47,463 36,419 — 36,419
Silver ore 661,972 257,276 919,248 599,459 232,824 832,283
709,435 257,276 966,711 635,878 232,824 868,702
Head Grades
Silver (grams/tonne) 228 67 241 72
Lead (%) 2.9 0.9 3.5 1.2
Zinc (%) 0.6 2.5 0.7 2.7
Recovery Rates
Silver (%) 94.8 83.0 95.0 81.8
Lead (%) 94.1 89.6 95.1 90.7
Zinc (%) 70.6 90.3 70.7 90.2
Metal Production
Gold (ounces) 4,385 — 4,385 5,352 — 5,352
Silver (in thousands of ounces) 4,868 450 5,318 4,614 440 5,054
Silver equivalent (in thousands of ounces) 5,222 450 5,672 5,080 440 5,520
Lead (in thousands of pounds) 41,284 4,624 45,908 44,952 5,692 50,644
Zinc (in thousands of pounds) 6,513 12,400 18,913 6,463 12,363 18,826
Metals Sold
Gold (ounces) 4,112 — 4,112 5,352 — 5,352
Silver (in thousands of ounces) 4,883 448 5,331 4,665 431 5,096
Lead (in thousands of pounds) 41,308 4,685 45,993 43,471 5,282 48,753
Zinc (in thousands of pounds) 6,514 12,467 18,981 6,510 12,308 18,818
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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 cash flow 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.
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
This news release includes “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 securities laws relating to, among other thi ngs statements regarding the processing of ore
stockpiles and timing of release the Company’s Q3 Fiscal 2025 unaudited financial results. By their very
nature, forward-looking statements involve known and unknown risks, uncertainties and other factors
that may cause our actual results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking statements. Forward-
looking information may in some cases be identified by words such as “will”, “anticipates”, “expects”,
“intends” and similar expressions suggesting future events or future performance.
We caution that all forward-looking information is inherently subject to change and uncertainty and that
actual results may differ materially from those expressed or implied by the forward-looking information.
A number of risks, uncertainties and other factors, including fluctuating commodity prices; recent market
events and condition; estimation of mineral resources, mineral reserves and mineralization and metal
recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration
and development programs; climate change; economic factors affecting the Company; timing, estimated
amount, capital and operating expenditures and economic returns of future production; integration of
future acquisitions into existing operations; permits and licences for mining and exploration in China; title
to properties; non-controlling interest shareholders; acquisition of commercially mineable mineral rights;
financing; competition; operations and political conditions; regulatory environment in China; regulatory
environment and political climate in Bolivia and Ecuador; integration and operations of Adventus;
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environmental risks; natural disasters; dependence on management and key personnel; foreign exchange
rate fluctuations; insurance; risks and hazards of mining operations; conflicts of interest; internal control
over financial reporting as per the requirements of the Sarbanes-Oxley Act; outcome of current or future
litigation or regulatory actions; bringing actions and enforcing judgments under U.S. securities laws;
cyber-security risks; public health crises; the Company’s investment in New Pacific Metals Co rp. and
Tincorp Metals Inc.; and the other risk factors described in the Company’s Annual Information Form and
other filings with Canadian and U.S. regulators on www.sedarplus.ca and www.sec.gov; could cause actual
results and events to differ materially from those expressed or implied in the forward-looking information
or could cause our current objectives, strategies and intentions to change. Accordingly, we warn investors
to exercise caution w hen considering statements containing forward -looking informa tion and that it
would be unreasonable to rely on such statements as creating legal rights regarding our future results or
plans. We cannot guarantee that any forward-looking information will materialize and you are cautioned
not to place undue reliance on this forward -looking information. Any forward -looking information
contained in this news release represent expectations as of the date of this news release and are subject
to change after such date. However, we are under no obligation (and we expressly di sclaim any such
obligation) to update or alter any statements containing forward -looking information, the factors or
assumptions underlying them, whether as a result of new information, future events or otherwise, except
as required by law. All of the forw ard-looking information in this news release is qualified by the
cautionary statements herein. A comprehensive discussion of other risks that impact Silvercorp can also
be found in our public reports and filings which are available under its profile at www.sedarplus.ca.
i Silver equivalent is calculated by converting the gold metal quantity to its silver equivalent using the ratio
between the net realized selling prices of gold and silver achieved, and then adding the converted amount
expressed in silver ounces to the ounces of silver.