Silvercorp Reports Receipt of Three Exploration Permits and Negotiation of Mining Contracts Renewal at the Ying Mining District
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NEWS RELEASE
Trading Symbol: TSX/NYSE AMERICAN: SVM
SILVERCORP REPORTS RECEIPT OF THREE EXPLORATION PERMITS AND NEGOTIATION OF MINING
CONTRACTS RENEWAL AT THE YING MINING DISTRICT
VANCOUVER, British Columbia – April 28, 2021 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”)
(TSX/NYSE American: SVM) announces that the Company has been granted three exploration permits
of 48.8 square kilometres in area, covering depth extensions of three mining permits, SGX, HPG, and
TLP-LME-LMW, at the Ying Mining District. Previously, the exploration activities underneath the
mining permits were covered by a joint venture agreement between the Company and the
Department of Natural Resources of Henan Province.
Previous drilling in the new exploration permits has intercepted extensive mineralization, such as drill
hole ZK-H17-0012 from the HPG mine which intercepted a 1.42 metre ("m") interval from 784.85 m to
786.27 m downhole grading 263 grams per tonne ("g/t") gold ("Au") and 335 g/t silver ("Ag") at
approximately minus 82 m elevation, and a 1.24 m interval grading 9.65 g/t Au, 286 g/t Ag, 4.30% lead
(“Pb”), and 2.19% zinc (“Zn”) at minus 34 m elevation - please see the Company’s news release dated
February 19, 2014 for further details . Recent re- logging and re -sampling surrounding the 1.42 m
interval yielded a 5.02 m interval grading 75.9 g/t Au and 98 g/t Ag , approximately 400 m below the
HPG Mining Permit. These new exploration permits have no depth limitation.
Negotiations to Renew Mining Contracts at the Ying Mines
The Company’s two-year mining contracts with the eight mining contractors at the Ying Mining District
expired on March 31, 2021 and the parties have reached a temporary two-month extension to renew
the contracts for another two years. In case an agreement cannot be reached with certain contractors,
the Company may replace them with new ones, which may cause temporary mining delays.
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 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]
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Website: www.silvercorp.ca
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, assumption s 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”, “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, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of
mineral resource and mineral reserv e estimates; exploration and development programs; feasibility and engineering
reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially
mineable mineral rights; financing; recent market eve nts 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; oper ations and political conditions;
regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; 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 statemen ts 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 Factors”. 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 assumptio ns, 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.