Silvercorp Reports Operational Results and the Financial Results Release Date FOR Fiscal 2021
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NEWS RELEASE
Trading Symbol: TSX/NYSE AMERICAN: SVM
SILVERCORP REPORTS OPERATIONAL RESULTS AND
THE FINANCIAL RESULTS RELEASE DATE FOR FISCAL 2021
VANCOUVER, British Columbia – April 15, 2021 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”)
(TSX/NYSE American: SVM) reports production and sales figures for fiscal year 2021 ended March 31,
2021 (“Fiscal 2021”) . The Company’s Fiscal 2021 financial results are expected to be released on
Thursday, May 20, 2021 after market close.
In Fiscal 2021, t he Company produced approximately 6.3 million ounce s of silver and 68.4 million
pounds of lead, m eeting the production guidance of between 6.2 – 6.5 million ounces of silver and
66.1 – 68.5 million pounds of lead. The Company also produced approximately 28.0 million pounds of
zinc, beating the guidance to produce between 24.5 – 26.7 million pounds of zinc.
FISCAL 2021 OPERATING HIGHLIGHTS
• At the Ying Mining District, ore mined was 650,025 tonnes, up 8.7% over Fiscal 2020, and ore
milled was 651,402 tonnes, up 8.3% over Fiscal 2020. Approximately 5.6 million ounces of silver,
3,500 ounces of gold, 57.9 million pounds of lead, and 6.9 million pounds of zinc were produced,
representing increases of 0.4% in silver production, 6.1% in g old production, and 2.6% in lead
production, and a decrease of 5.7% in zinc production over Fiscal 2020.
• At the GC Mine, ore mined was 314,900 tonnes, up 9.5% over Fiscal 2020, and ore milled was
316,179 tonnes, up 8.8% over Fiscal 2020. Approximately 716 thousand ounces of silver, 10.5
million pounds of lead, and 21.1 million pounds of zinc were produced, representing increases of
2.4% in silver production and 15.6% in zinc production, and a decrease of 3.6% in lead production
over Fiscal 2020.
• On a consolidated basis, ore mined was 964,925 tonnes, up 8.9% over Fiscal 2020, with ore milled
of 967,582 tonnes, up 8.4% over Fiscal 2020. Approximately 6.3 million ounces of silver, 3,500
ounces of gold, 68.4 million pounds of lead, and 28.0 million pounds of zinc were produced, up
0.6%, 6.1%, 1.6%, and 9.5%, respectively, over Fiscal 2020.
• On a consolidated basis, Silvercorp sold approximately 6.3 million ounces of silver, 4,700 ounces
of gold, 67.1 million pounds of lead, and 27.9 million pounds of zinc, up 0.9%, 42.8%, 2.7%, and
9.9%, respectively, over Fiscal 2020.
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The operational results for the full year Fiscal 2021 are summarized as follows:
The operation al results for the fourth quarter ended March 31, 2021 (“ Q4 Fiscal 2021 ”) are
summarized as follows:
Year ended March 31, 2021 Year ended March 31, 2020
Ying Mining
District GC BYP Consolidated
Ying Mining
District GC Consolidated
Production Data
Ore Mined (tonne) 650,025 3 14,900 - 964,925 598,197 287,633 885,830
Ore Milled (tonne) 651,402 316,179 - 967,582 601,605 290,610 892,215
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Head Grades -
Silver (gram/tonne) 290 85 - 223 309 97 240
Lead (%) 4.3 1.7 - 3.4 4.6 1.9 3.7
Zinc (%) 0.8 3.4 - 1.7 0.9 3.3 1.7
Recovery Rates
Silver (%) 94.2 82.5 - 92.7 96.0 77.4 93.5
Lead (%) 96.0 89.6 - 95.0 95.9 89.3 94.8
Zinc (%) 62.4 88.2 - 80.0 63.2 86.0 77.8
Sales Data
Silver (in thousands of ounces) 5,610 705 - 6,315 5,558 699 6,257
Gold (in thousands of ounces) 3.5 - 1.2 4.7 3.3 - 3.3
Lead (in thousands of pounds) 56,708 10,410 - 67,118 54,459 10,885 65,344
Zinc (in thousands of pounds) 6,968 20,946 - 27,914 7,264 18,137 25,401
Metal production
Silver (in thousands of ounces) 5,615 716 - 6,330 5,592 699 6,291
Gold (in thousands of ounces) 3.5 - - 3.5 3.3 - 3.3
Lead (in thousands of pounds) 57,886 10,544 - 68,430 56,436 10,937 67,373
Zinc (in thousands of pounds) 6,916 21,096 - 28,012 7,337 18,244 25,581
Three months ended March 31, 2021 Three months ended March 31, 2020
Ying Mining
District GC Consolidated
Ying Mining
District GC Consolidated
Production Data
Ore Mined (tonne) 112,561 50,511 163,072 69,379 37,216 106,595
Ore Milled (tonne) 131,725 48,949 180,674 69,188 33,243 102,431
Head Grades
Silver (gram/tonne) 280 87 228 297 94 231
Lead (%) 3.9 1.7 3.3 4.6 1.8 3.7
Zinc (%) 0.8 3.3 1.5 1.0 3.5 1.8
Recovery Rates
Silver (%) 93.7 81.9 92.5 95.3 80.7 93.4
Lead (%) 95.1 89.7 94.4 95.7 90.4 94.8
Zinc (%) 65.0 88.2 79.0 67.7 87.7 80.3
Sales Data
Silver (in thousands of ounces) 936 120 1,056 711 89 800
Gold (in thousands of ounces) 0.7 - 0.7 0.5 - 0.5
Lead (in thousands of pounds) 9,137 1,739 10,876 8,322 1,332 9,654
Zinc (in thousands of pounds) 1,306 3,274 4,580 865 2,194 3,059
Metal production
Silver (in thousands of ounces) 1,083 112 1,195 614 82 696
Gold (in thousands of ounces) 0.3 - 0.3 0.2 - 0.2
Lead (in thousands of pounds) 10,504 1,652 12,156 6,573 1,199 7,772
Zinc (in thousands of pounds) 1,496 3,176 4,672 999 2,277 3,276
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Ying Mining District
In Q4 Fiscal 2021, ore mined at the Ying Mining District was 112,561 tonnes, an increase of 62%,
compared to 69,379 tonnes in the fourth quarter of Fiscal 2020 (“ Q4 Fiscal 2020”). Ore milled was
131,725 tonnes, with average head grades of 280 grams per tonne (“g/t”) for silver, 3.9% for lead, and
0.8% for zinc, compared to 69,188 tonnes of ore milled with average head grades of 297 g/t for silver,
4.6% for lead, and 1.0% for zinc in Q4 Fiscal 2020. The Company mined and processed increased ore
during the quarter as result of an extra month shutdown due to Covid -19 in Q4 Fiscal 2020. M etals
production at the Ying Mining District in Q4 Fiscal 2021 was approximately 1.1 million ounces of silver,
300 ounce s of gold, 10.5 million pounds of lead, and 1.5 million pounds of zinc, compared to
approximately 0.6 million ounces of silver, 200 ounces of gold, 6.6 million pounds of lead, and 1.0
million pounds of zinc in Q4 Fiscal 2020.
In Fiscal 2021, metals production at the Ying Mining District was approximately 5.6 million ounces of
silver, 3,500 ounces of gold, 57.9 million pounds of lead and 6.9 million pounds of zinc, compared to
approximately 5.6 million ounces of silver, 3,300 ounces of gold, 56.4 million pounds of lead and 7.3
million pounds of zinc in Fiscal 2020. The Ying Mining District met its guidance to produce between 5.6
– 5.8 million ounces of silver and 56.6 – 58.0 million pounds of lead, but was slightly below its guidance
to produce between 7.0 – 8.0 million pounds of zinc in Fiscal 2021.
GC Mine
In Q4 Fiscal 2021, ore mined at the GC Mine was 50,511 tonnes, an increase of 36% compared to
37,216 tonnes in Q4 Fiscal 2020. Ore milled was 48,949 tonnes, with average head grades of 87 g/t for
silver, 1.7% for lead, and 3. 3% for zinc, compared to 3 3,243 tonnes of ore milled with average head
grades of 94 g/t for silver, 1.8% for lead and 3.5% for zinc in Q4 Fiscal 2020. Metals production at the
GC Mine in Q4 Fiscal 2021 was approximately 112 thousand ounces of silver, 1.7 million pounds of
lead, and 3.2 million pounds of zinc, compared to approximately 82 thousand ounces of silver, 1.2
million pounds of lead, and 2.3 million pounds of zinc in Q4 Fiscal 2020.
In Fiscal 2021, metal s production at the GC Mine was approximately 716 thousand ounces of silver,
10.5 million pounds of lead, and 21.1 million pounds of zinc, compared to approximately 699 thousand
ounces of silver, 10.9 million pounds of lead , and 18.2 million pounds of zinc in Fiscal 2020 . The GC
Mine met or surpassed its guidance to produce between 600 – 700 thousand ounces of silver, 9.5 –
10.5 million pounds of lead, and 17.5 – 18.7 million pounds of zinc in Fiscal 2021.
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
Silvercorp Metals Inc.
Lon Shaver
Vice President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: [email protected]
Website: www.silvercorp.ca
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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 provincial 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”, “anticipat es”, “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. Forward-looking statements 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 and the GC Mine; 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 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: social and economic impacts of COVID -19; fluctuating commodity prices; calculation of
resources, reser ves 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; permits and licences; title to proper ties; 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; foreign exchange rate fluct uations; insurance; risks
and hazards of mining operations; key personnel; conflicts of interest; dependence on management; 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 heading “Risk Fact ors”. 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. For the
reasons set forth above, investors should not place undue reliance on forward-looking statements.