SVM.TO · 2025-10-15 12:00:00

Silvercorp Reports Operational Results and Financial Results Release Date for the Second Quarter, Fiscal 2026

Financials

NEWS RELEASE

Trading Symbol: TSX/NYSE American: SVM

Silvercorp Reports Operational Results and Financial Results Release Date

for the Second Quarter, Fiscal 2026

VANCOUVER, British Columbia – October 15, 2025 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE

American: SVM) reports production and sales figures for the second quarter ended September 30, 2025 (“Q2 Fiscal 2026”).

Silvercorp expects to release its Q2 Fiscal 2026 unaudited interim financial results on Thursday, November 6, 2025, after

market close.

Q2 Fiscal 2026 Operational Highlights

• Revenue of approximately $83.3 million, an increase of 23% over the same quarter last year (“Q2 Fiscal 2025”);

• Silver production of 1.7 million ounces, an increase of 0.2% over Q2 Fiscal 2025; silver equivalent (only silver and gold) i

production of 1.84 million ounces, an increase of 5% compared to 1.75 million ounces in Q2 Fiscal 2025;

• Lead production of 14.2 million pounds, an increase of 8% over Q2 Fiscal 2025;

• Zinc production of 5.6 million pounds, a decrease of 3% over Q2 Fiscal 2025;

• Active exploration continued at the Ying Mining District and the GC Mine with a total of 77,507 metres ("m") of drilling

and 14,437 m of exploration tunneling completed;

• Kuanping mine construction continued, with 831 m of ramp development and 613 m of exploration tunneling completed;

• El Domo mine construction continued to advance with approximately 1.29 million cubic metres of material removed, up

249% compared to last quarter; and

• Underground mining preliminary economic assessment study for the Condor Project initiated; completion expected in Q3

Fiscal 2026.

Q2 Fiscal 2026 Operational Details

The Ying Mining District processed 265,002 tonnes of ore, up 26% over Q2 Fiscal 2025. Approximately 1,529 thousand ounces

("Koz") of silver, 2,085 ounces (“oz”) of gold, or 1,708 Koz of silver equivalent, plus 12,928 thousand pounds ("Klb") of lead,

and 1,423 Klb of zinc were produced, representing production increases of 1%, 76%, 6%, and 8%, respectively, in silver, gold,

silver equivalent and lead, and a decrease of 21% in zinc over Q2 Fiscal 2025. Production at the Ying Mining District during the

quarter was affected by the temporary closure of certain mining areas (refer to Silvercorp's August 7, 2025 news release).

These areas have since reopened, and production has returned to normal levels. A total of 64,330 m of drilling and 12,638 m

of exploration tunneling were completed in Q2 Fiscal 2026.

The GC Mine processed 76,249 tonnes of ore, down 12% over Q2 Fiscal 2025. Approximately 130 Koz of silver, 1,306 Klb of

lead, and 4,221 Klb of zinc were produced, representing a decrease of 5% in silver and increases of 6% and 5% in lead and zin c

over Q2 Fiscal 2025. A total of 13,176 m of drilling and 1,799 m of exploration tunneling were completed in Q2 Fiscal 2026.

The production at the GC Mine in Q2 Fiscal 2026 was interrupted by severe rainy and typhoon weather conditions for around

10 days.

The El Domo mine construction advanced significantly in Q2 Fiscal 2026. Approximately 1.29 million cubic metres of material

were removed, representing a 249% increase over the last quarter. The 481 -bed construction camp has been substantially

completed and is scheduled to be fully operational in October 2025. Surface clearing for the tailings storage facility (TSF)

began in September 2025, with 15,700 cubic meters of topsoil excavated to prepare the starter dam foundation. Four sections

of the external power line construction contracts have been awarded and the final section remains under engineering design.

In addition, equipment orders totaling approximately $22.2 million have been placed.

Consolidated Operational Results for the Three Months Ended September 30, 2025 and 2024

Q2 Fiscal 2026 Q2 Fiscal 2025

Ying Mining

District GC Consolidated

Ying Mining

District GC Consolidated

Ore Processed (tonnes) 265,002 76,249 341,251 210,498 86,707 297,205

Silver-lead Ore (tonne) 235,168 76,249 311,417 193,423 86,707 280,130

Gold Ore (tonne) 29,834 — 29,834 17,075 — 17,075

Head Grade for Silver-lead Ore

Silver (grams/tonne) 207 64 254 61

Lead (%) 2.6 0.9 3.0 0.8

Zinc (%) 0.4 2.8 0.6 2.4

Head Grade for Gold Ore

Gold (grams/tonne) 1.4 — 1.6 —

Silver (grams/tonne) 81 — 87 —

Lead (%) 0.9 — 0.9 —

Recovery Rates

Gold (%)* 94.2 — 92.2 —

Silver (%) 94.8 85.8 94.9 82.2

Lead (%) 93.5 89 94.0 87.9

Zinc (%) 65.8 91.1 70.4 90.2

Metals Produced

Silver (Koz) 1,529 130 1,659 1,518 137 1,655

Gold (oz) 2,085 — 2,085 1,183 — 1,183

Silver equivalent (Koz) 1,708 130 1,838 1,614 137 1,751

Lead (Klb) 12,928 1,306 14,234 11,970 1,232 13,202

Zinc (Klb) 1,423 4,221 5,644 1,795 4,016 5,811

Metals Sold

Silver (Koz) 1,526 129 1,655 1,505 136 1,641

Gold (oz) 2,033 — 2,033 1,239 — 1,239

Lead (Klb) 13,468 1,284 14,752 11,980 1,278 13,258

Zinc (Klb) 1,435 4,239 5,674 1,818 4,074 5,892

*Only representing the gold recovery rate for Gold Ore.

Consolidated Operational Results for the Six Months Ended September 30, 2025 and 2024

Six months ended September 30,2025 Six months ended September 30,2024

Ying Mining

District GC Consolidated

Ying Mining

District GC Consolidated

Ore Processed (tonnes) 548,357 151,118 699,475 431,740 173,161 604,901

Silver-lead Ore (tonne) 488,126 151,118 639,244 406,189 173,161 579,350

Gold Ore (tonne) 60,231 — 60,231 25,551 — 25,551

Head Grade for Silver-lead Ore

Silver (grams/tonne) 213 66 247 63

Lead (%) 2.7 0.8 3.1 0.8

Zinc (%) 0.5 2.6 0.7 2.4

Head Grade for Gold Ore

Gold (grams/tonne) 1.4 — 1.6 —

Silver (grams/tonne) 66 — 91 —

Lead (%) 0.8 — 1.3 —

Recovery Rates

Gold (%)* 93.8 — 92.6 —

Silver (%) 94.7 85.6 94.9 83.2

Lead (%) 93.8 89.5 94.2 89.1

Zinc (%) 64.9 90.6 71.4 90.3

Metals Produced

Silver (Koz) 3,218 268 3,486 3,090 282 3,372

Gold (oz) 4,135 — 4,135 2,329 — 2,329

Silver equivalent (Koz) 3,593 268 3,861 3,271 282 3,553

Lead (Klb) 27,529 2,440 29,969 26,050 2,771 28,821

Zinc (Klb) 3,268 7,605 10,873 4,263 7,982 12,245

Metals Sold

Silver (Koz) 3,219 265 3,484 3,095 285 3,380

Gold (oz) 3,984 — 3,984 2,237 — 2,237

Lead (Klb) 27,578 2,420 29,998 26,099 2,822 28,921

Zinc (Klb) 3,293 7,570 10,863 4,311 8,065 12,376

*Only representing the gold recovery rate for Gold Ore.

About Silvercorp

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growt h

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 things statements regarding the timing of release the Company’s Q2 Fiscal 2026 unaudited interim financial results, the

completion of the underground mining pre -feasibility study for Condor Project, and schedule of the construction camp to be

fully operational. 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 futu re

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 an d

political conditions; regulatory environment in China; regulatory environment and political climate in Bolivia and Ecuador;

integration and operations of Adventus; environmental risks; natural disasters; dependence on management and key

personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; conflicts of interest; inte rnal

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 Corp. and Tincorp Metals Inc.; and the other risk factors described in

the Company’s Annual Information Form and in the Company’s Annual Report on Form 40 -F, 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. 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, we warn investors to exercise caution when considering statements containing forward -looking information 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 represents expectations as

of the date of this news release and is subject to change after such date. However, we are under no obligation (and we

expressly disclaim 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 forward-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 its public reports and filings which ar e

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 ne t

realized selling prices of gold and silver achieved, and then adding the converted amount expressed in silver ounces to the

ounces of silver.

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