SILVERCORP REPORTS HIGH-GRADE SILVER-LEAD DRILL RESULTS FROM THE SGX MINE

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SILVERCORP REPORTS HIGH-GRADE SILVER-LEAD DRILL RESULTS FROM THE SGX MINE

PR Newswire

Silvercorp Metals Inc. logo (CNW Group/Silvercorp Metals Inc)

Trading Symbol       TSX:  SVM
                                  NYSE American:  SVM

VANCOUVER, BC, July 5, 2023 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report high-grade silver-lead intercepts from its ongoing diamond drilling program at the SGX mine in the Ying Mining District, China.  

Highlights (all intersections are in core lengths):

  • Hole ZKDBS27E0301 intersected 1,660 grams per tonne ("g/t") silver ("Ag"), 0.21% lead ("Pb"), 0.12% zinc ("Zn") and 1.61% copper ("Cu") over a 0.51 metre ("m") interval of vein S54 at the 849 m elevation;
  • Hole ZKDB0S8E101 intersected 1,877 g/t Ag, 6.24% Pb, 2.89% Zn, and 0.77% Cu over a 2.07 m interval of vein S8E1 at the 697 m elevation;
  • Hole ZKDB4AS701 intersected 738 g/t Ag, 10.75% Pb, and 0.38% Zn over a 1.14 m interval of vein S7 at the 670 m elevation;
  • Hole ZKDB55S16W01 intersected 1,259 g/t Ag, 6.61% Pb, and 2.96% Zn over a 2.03 m interval of vein S16W at the 637 m elevation;
  • Hole ZK19S808 intersected 162 g/t Ag, 7.26% Pb, and 0.48% Zn over a 7.64 m interval of vein S8 at the 517 m elevation;
  • Hole ZK21S7_108 intersected 7,948 g/t Ag, 22.47% Pb, 1.42% Zn, and 1.22% Cu over a 0.55 m interval of vein S7_2 at the 470 m elevation;
  • Hole ZK4AS2002 intersected 1,167 g/t Ag, 0.71% Pb, and 0.34% Zn over a 0.96 m interval of vein S31 at the 432 m elevation;
  • Hole ZK00S2901 intersected 13,490 g/t Ag, 17.41% Pb, 5.37% Zn, and 0.77% Cu over a 0.52 m interval of vein S14 at the 402 m elevation;
  • Hole ZK12S2W2012 intersected 1,577 g/t Ag, 19.42% Pb, 4.26% Zn, and 0.16% Cu over a 2.22 m interval of vein S2W2 at the 376 m elevation;
  • Hole ZK12S7a104 intersected 1,206 g/t Ag, 4.74% Pb, 1.68% Zn, and 0.27% Cu over a 2.25 m interval of vein S21 at the 304 m elevation;
  • Hole ZK12S1001 intersected 2,783 g/t Ag, 66.19% Pb, and 4.40% Zn over a 0.90 m interval of vein S1 at the 290 m elevation;
  • Hole ZK6AS2W06 intersected 1,317 g/t Ag, 9.78% Pb, and 2.25% Zn over a 0.93 m interval of vein S6 at the 193 m elevation; and
  • Hole ZK08AS2W2005 intersected 1,645 g/t Ag, 21.25% Pb, 3.11% Zn, and 0.29% Cu over a 1.79 m interval of vein S39 at the 156 m elevation.

From January 1, 2022, to June 15, 2023, a total of 88,194 m in 488 diamond drill holes, including 398 underground holes and 90 surface holes, were completed at the SGX mine. Assay results for 483 holes have been received, with 280 holes intercepting mineralization. Currently, there are 15 rigs drilling at the SGX mine.

The drilling program has been focused on three areas: 1) silver-lead-zinc (Ag-Pb-Zn) vein structures in the resource area at higher elevations, close to surface, which have seen limited exploration; 2) infilling above or below previously-mined stopes where production stopped due to higher than modelled variability in grades, thicknesses, and attitudes of the vein structures; and 3) stepping out to test new vein structures to the southeast of the resource area.

Drilling Near-Surface Ag-Pb-Zn Vein Structures within the Resource Area

Drilling over the past few years primarily focused on testing the lateral and downdip extent of known vein structures and paid insufficient attention to their extension potential at elevations above 500 m. High-grade Ag-Pb-Zn vein structures intersected at higher elevations include the S7 series, S8 series, S16 series, S21 series, S1 series, S2, S6, S14 series, and S32 (Table 1).

Drilling Above or Beneath Previously-Mined Stopes within the Resource Area

Most holes drilled during this period targeted blocks of known Ag-Pb-Zn vein structures that were previously missed due to limited drilling or tunneling, changes in thickness, strike and dip of the pay-zones in veins within the resource areas below the 500 m elevation. The high grade intercepts are mainly associated with the northwest-dipping S1 series, S2 series, S6 series, S7 series, S8 series, S14 series, S18 series, S19 series, S21 series, and the east-dipping S31, S28, S29, and S32 veins. These intercepts have led to significant expansion and upgrading of resources. Since access tunnels are already in place, these defined high-grade blocks can be quickly converted to reserves and mined.

Step-Out Surface Drilling Intersecting Ag-Pb-Zn Veins and Au-Ag-Pb-Zn Veins to the Southeast of the Resource Area

Step-out surface drilling intersected high-grade Ag-Pb-Zn veins S26E and S54, and Au-Ag-Pb-Zn veins S51 and S57 to the southeast of the resource area. Hole ZKDBS511201, which intersected high-grade Au-Ag-Pb-Zn vein S51, is approximately 1,200 m southeast of the resource area.

Table 1: Selected intercepts from the drilling programs at the SGX mine

Hole ID

From
(m)

To
(m)

Elevation
(m)

Interval
(m)

Ag
(g/t)

Pb
(%)

Zn
(%)

Au
(g/t)

Cu
(%)

Vein

ZKDB14S2W001

38.21

38.76

516

0.55

263

9.77

12.34



S1

ZKDB14S2W002

56.84

59.62

498

2.78

77

2.56

1.45

0.01

0.01

S1

ZK12S2W2012

104.75

106.11

366

1.36

85

0.15

14.46

0.05

0.06

S1

ZK12S1001

64.02

64.92

290

0.90

2,783

66.19

4.40

0.00

0.00

S1

ZK12AS1001

51.9

52.5

289

0.60

280

16.00

5.33

0.00

0.00

S1

ZK10S102

155.65

156.25

244

0.60

845

16.51

8.00

0.00

0.00

S1

ZK10S2W004

149.24

150.84

230

1.60

753

10.49

2.60

0.02

0.03

S1

ZK08AS3912

140.85

141.48

200

0.63

107

4.84

7.76

0.05

0.05

S1

ZK08AS2W2005

128.84

129.38

158

0.54

644

8.97

0.84

0.10

0.07

S1

ZK14AS209

137.47

137.98

21

0.51

229

1.76

1.25

0.00

0.00

S1

ZK14AS208

141.14

141.64

18

0.50

39

3.05

5.70

0.33

0.12

S1

ZKDB14S1402

112.98

113.51

593

0.53

107

3.38

1.18

0.02

0.01

S14

ZK12AS14008

105.91

106.44

508

0.53

35

0.30

8.11

0.02

0.05

S14

ZK52S2912

16.34

16.88

449

0.54

901

30.91

3.21

0.11

0.12

S14

ZK02BS2901

9.66

10.21

403

0.55

403

2.27

0.21

0.05

0.07

S14

ZK00S2901

10.53

11.05

402

0.52

13,490

17.41

5.37

0.22

2.59

S14

ZK14AS1416

154.22

154.74

247

0.52

1,112

0.79

1.12

0.00

0.00

S14

ZK12AS601

272.22

273.6

239

1.38

848

10.61

0.80

0.19

0.06

S14

ZK10AS1404

93.2

94.83

208

1.63

605

14.05

2.97

0.00

0.11

S14

ZK12S1401

94.54

95.34

208

0.80

532

4.43

5.62

0.03

0.06

S14

ZK64S3104

104.03

105.38

203

1.35

169

1.36

0.70

0.11

0.33

S14

ZK12S1402

112.99

113.72

184

0.73

158

3.13

0.18

0.28

0.02

S14

ZK4S1404

80.91

81.44

148

0.53

306

0.97

0.31

0.02

1.21

S14

ZK4S1405

85.25

85.87

132

0.62

996

26.76

0.82

0.02

0.23

S14

ZK12AS14008

104.11

104.63

509

0.52

55

0.82

5.99

0.02

0.05

S14_1

ZK10AS14_104

150.09

150.76

285

0.67

82

0.95

5.18

0.05

0.04

S14_1

ZK12S14_102

177.26

178.05

284

0.79

317

0.04

1.26

0.06

0.01

S14_1

ZK10S14006

48.23

48.93

250

0.70

591

14.95

1.95



S14_1

ZK4AS31001

85.49

87.84

410

2.35

158

0.33

1.64

0.12

0.02

S14_2

ZK16AS1404

181.19

181.69

247

0.50

75

0.12

7.95

0.16

0.08

S14E

ZK10AS1403

150.24

150.8

173

0.56

96

3.30

6.00

0.05

0.06

S14E

ZKDB14S1402

111.31

111.94

593

0.63

139

0.90

1.79

0.01

0.03

S14E1

ZK12S1402

131.19

131.99

177

0.80

211

0.70

0.38

0.10

0.15

S14E1

ZK10AS1403

68.07

68.69

200

0.62

530

1.64

0.50

0.13

0.33

S14W

ZK12S1402

99.02

99.62

188

0.60

424

1.60

0.39

1.07

0.02

S14W

ZK10S14W005

77.54

78.05

139

0.51

125

3.57

2.68

0.00

0.00

S14W

ZKDB55S16W02

154.35

155.14

696

0.79

6

0.02

0.08

3.47

0.53

S16E

ZKDB53S16W03

162.6

163.13

690

0.53

303

0.16

0.33

0.06

0.12

S16E

ZK56S16E001

87.74

89.07

519

1.33

848

0.58

0.16

0.10

0.00

S16E

ZK10S16E003

97.83

98.59

440

0.76

225

10.54

1.54

0.12

0.08

S16E

ZK10AS16E001

87.57

88.45

421

0.88

222

8.49

0.21

0.05

0.02

S16E

ZK10S16E004

119.94

120.46

420

0.52

37

3.32

1.85

0.05

0.02

S16E

ZK0S7W001

165.31

165.87

597

0.56

71

0.26

13.84

0.00

0.00

S16E1

ZK06AS21003

150.14

150.66

552

0.52

523

4.23

2.03

0.00

0.00

S16E2

ZK58S16E001

73.36

74

525

0.64

330

0.26

0.30

0.13

0.00

S16E2

ZK58S16E002

90.84

91.48

497

0.64

191

2.63

0.57

0.01

0.00

S16E2

ZKDB55S16W01

157.82

158.86

683

1.04

333

0.55

1.38

0.15

0.15

S16E3

ZKDB57S16E01

168.31

168.81

659

0.50

349

0.31

8.01

0.03

0.09

S16E3

ZKDB0S701

298.29

299.2

639

0.91

253

0.08

0.38

0.05

0.02

S16Ea

ZKDB55S16W01

210.47

212.5

637

2.03

1,259

6.16

2.96

0.05

0.05

S16W

ZKDB53S16W02

249.6

250.12

602

0.52

141

0.50

4.42

0.18

0.03

S16W

ZK02AS16W013

85.97

86.95

521

0.98

73

1.42

7.99

0.05

0.00

S16W

ZK4AS16E02

135.54

137.01

338

1.47

123

5.72

0.36

0.05

0.03

S16W

ZK08S22005

174

174.56

302

0.56

155

5.99

2.10

0.03

0.19

S16W

ZK06S2201

156.68

161.69

299

5.01

164

5.91

4.96

0.08

0.20

S16W

ZK50S16W001

168.46

169.8

292

1.34

204

12.98

3.70

0.20

0.39

S16W

ZK02AS7004

125.09

126.45

286

1.36

69

1.13

1.15

9.53

0.02

S16W

ZK02AS7006

100.12

102.87

281

2.75

85

1.73

0.51

0.93

0.03

S16W

ZK4S16W02

155.21

156.44

280

1.23

112

2.01

1.20

0.07

0.18

S16W

ZK0S16W1002

132.02

132.52

473

0.50

218

0.73

0.59

0.05

0.98

S16W1

ZK0S16W1001

155.41

155.94

469

0.53

386

2.01

0.74

0.00

0.00

S16W1

ZK0S16W1004

162.55

163.05

441

0.50

57

8.82

1.07

0.00

0.00

S16W1

ZK65S16W003

86.48

86.98

440

0.50

675

23.40

3.14

0.02

0.12

S16W1

ZK65S16W002

74.12

74.73

438

0.61

1,127

2.79

2.23

0.15

0.08

S16W1

ZK65AS16W1003

73.52

74.23

392

0.71

564

2.30

1.60

0.02

0.07

S16W1

ZK65S16W1005

82.84

83.4

387

0.56

71

4.71

4.77

0.01

0.02

S16W1

ZK65AS16W1001

80.93

81.61

385

0.68

513

1.35

3.17

0.05

0.02

S16W1

ZK07S19010

139.98

142.94

474

2.96

225

1.77

0.99

0.00

0.00

S19

ZK07S19020

167.84

168.59

473

0.75

174

6.85

5.14

0.00

0.00

S19

ZK15AS19014

107.13

107.7

441

0.57

370

0.73

2.44

0.01

0.09

S19

ZK15S19013

122.88

123.39

432

0.51

551

19.92

15.43

0.01

0.28

S19

ZK15S19E01

192.2

195.25

360

3.05

55

3.38

1.88

0.02

0.03

S19

ZK15AS1920

64.63

65.25

294

0.62

765

23.52

10.16

0.02

0.33

S19

ZK15AS1908

45.04

46.92

293

1.88

221

19.39

1.55

0.02

0.05

S19

ZK15AS1909

47.83

50.35

292

2.52

334

14.60

7.22

0.02

0.11

S19

ZK13S1903

114.56

116.51

289

1.95

156

2.59

0.56

0.08

0.01

S19

ZK15AS1911

149.48

149.99

247

0.51

135

1.96

1.69

0.01

0.05

S19

ZK15AS1912

181.93

183.17

240

1.24

207

2.27

0.78

0.03

0.04

S19

ZK11AS19W001

168.38

169.16

186

0.78

275

20.94

0.34

0.00

0.00

S19

ZK11AS1906

95.23

95.84

132

0.61

728

22.11

2.76



S19

ZK11AS1909

107.85

108.42

94

0.57

311

1.74

1.12

0.00

0.00

S19

ZK11AS1907

129.04

129.7

81

0.66

44

4.29

0.36

0.00

0.00

S19

ZK15S19010

120.28

123.7

439

3.42

309

1.36

0.36

0.01

0.02

S19E

ZK15AS1912

170.82

171.32

244

0.50

2,542

5.84

2.16

0.03

0.17

S19E

ZK11AS19015

155.86

158.11

189

2.25

340

10.30

1.62

0.00

0.00

S19E

ZK11S7_1002

118.84

119.6

81

0.76

773

15.32

5.62

0.00

0.00

S19E

ZK11S7_1003

116.83

119.15

79

2.32

342

0.88

0.22

0.00

0.00

S19E

ZK07S19020

195.94

196.78

469

0.84

34

1.22

6.77

0.00

0.00

S19W

ZK07S19011

188.71

189.29

420

0.58

327

14.00

6.83

0.00

0.00

S19W

ZK15AS1920

84.19

84.69

288

0.50

201

7.68

5.14

0.02

0.07

S19W

ZK15AS1911

176.98

177.77

236

0.79

1,369

5.92

0.57

0.03

0.30

S19W

ZK11AS19W01

118.3

119.45

142

1.15

258

1.56

0.35

0.00

0.00

S19W

ZK11AS1905

135.15

136.25

113

1.10

291

0.05

0.03

0.00

0.00

S19W

ZK15AS19014

104.19

104.87

443

0.68

170

0.17

3.80

0.01

0.07

S19a

ZK15AS1908

55.62

56.73

288

1.11

331

2.14

2.91

0.03

0.05

S19a

ZK14AS1W201a

78.9

79.4

252

0.50

69

4.90

0.68

0.00

0.00

S1W

ZKDB12S1001

35.79

36.42

506

0.63

1,538

34.45

9.59

0.05

0.08

S1W2

ZK14S1W5011

8.47

8.98

303

0.51

317

1.14

0.88

0.00

0.00

S1W2

ZK14AS1W5006

13.89

14.39

295

0.50

965

9.86

2.20

0.00

0.00

S1W2

ZK14S1W2004

75.56

76.11

290

0.55

70

3.29

0.39

0.00

0.00

S1W2

ZK14AS1W5007

34.89

35.42

279

0.53

102

6.63

3.25

0.00

0.00

S1W2

ZK14AS1W201a

101.07

101.68

249

0.61

721

5.44

19.18

0.00

0.00

S1W2

ZK14AS1W204

88.93

91.65

247

2.72

438

7.74

2.36

0.00

0.00

S1W2

ZK12AS1W209

87.42

88.14

239

0.72

231

1.02

3.61

0.11

0.04

S1W2

ZK14AS1W203

120.84

121.56

206

0.72

181

0.90

0.64

0.02

0.07

S1W2

ZK14AS1W202a

95.52

98.09

200

2.57

398

2.46

3.00

0.27

0.05

S1W2

ZK14AS2W2002

32.48

33.02

130

0.54

349

2.21

0.35

0.00

0.02

S1W2

ZK14AS2W2001

34.83

35.34

129

0.51

102

0.20

5.87

0.00

0.00

S1W2

ZK14AS2W2002

39.83

40.8

128

0.97

163

0.60

1.05

0.00

0.10

S1W2a

ZK10S2W205

249.34

249.91

362

0.57

568

9.83

1.16

0.05

0.03

S1W3

ZKDB2AS1W502

362.48

363

263

0.52

71

3.56

0.94

0.02

0.02

S1W3a

ZK14AS1W5007

84.19

85.9

242

1.71

545

0.38

3.89

0.00

0.00

S1W5

ZK14AS1W5006

124.75

125.31

218

0.56

1,167

1.15

0.49

0.00

0.00

S1W5

ZKDB8AS6002

108.41

108.94

503

0.53

345

0.13

0.49

0.06

0.01

S2

ZKDB12S2001

151.56

152.07

413

0.51

296

4.40

13.34

0.03

0.10

S2

ZKDB16S2001

187.95

189.80

407

1.85

135

3.43

3.96

0.00

0.00

S2

ZKDB12S2002

152.95

153.46

406

0.51

584

16.51

3.72

0.00

0.08

S2

ZK04AS2010

123.83

124.37

284

0.54

172

1.31

0.77

0.00

0.00

S2

ZK08AS3912

3

3.61

260

0.61

184

5.16

0.34

0.05

0.02

S2

ZK06S6005

118.35

118.9

184

0.55

44

6.84

1.12

0.03

0.01

S2

ZK08AS2W2008

4.23

4.82

182

0.59

869

47.70

2.76

0.00

0.00

S2

ZK08AS2W2005

5.36

5.87

182

0.51

690

48.71

2.11

0.03

0.23

S2

ZK08AS2W2010

8.55

9.06

181

0.51

637

36.03

1.94

0.08

0.09

S2

ZK12S4E02

135.09

135.89

174

0.80

982

2.87

0.84

0.11

0.33

S2

ZK12AS4E02

149.98

150.49

172

0.51

807

16.21

1.94

0.13

0.10

S2

ZK10S202

96.19

97.93

164

1.74

427

8.58

0.96

0.02

0.10

S2

ZK10AS201

92.72

93.39

162

0.67

233

1.06

1.93

0.05

0.04

S2

ZK14AS204

360.42

361.09

-130

0.67

413

0.51

1.13

0.28

0.07

S2

ZK12S7a105

9.22

9.89

304

0.67

440

0.90

1.30

2.56

0.14

S21

ZK12S7a104

9.29

11.54

304

2.25

1,206

4.74

1.68

0.49

0.27

S21

ZK12S7a106

9.59

10.3

302

0.71

125

3.95

0.86

0.05

0.09

S21

ZK10AS705

10.68

11.43

302

0.75

233

1.82

2.07

0.18

0.11

S21

ZK12AS704

10.69

12.76

302

2.07

204

2.99

1.92

0.14

0.06

S21

ZK12AS703

10.66

11.18

300

0.52

184

6.79

1.45

0.06

0.04

S21

ZK06AS21003

114.64

115.38

557

0.74

1,238

0.86

0.54

0.00

0.00

S21W

ZK56S16E002

34.25

34.76

545

0.51

544

8.84

0.70

0.00

0.00

S21W1

ZK08S22005

133.96

134.57

314

0.61

296

1.90

0.33

0.03

0.51

S21W1

ZK10S16E003

111.04

111.61

437

0.57

315

3.05

3.30

0.15

0.06

S21W1a

ZK06AS21003

126.95

127.95

555

1.00

93

0.12

6.98

0.00

0.00

S21W1a

ZK56S7W101

33.77

35.15

301

1.38

208

11.72

1.21

0.45

0.03

S21a

ZK12AS702

29.18

30.18

301

1.00

161

0.90

0.14

0.03

0.02

S21a

ZK12AS703

30.65

31.2

293

0.55

547

23.08

0.80

0.17

0.06

S21a

ZK4AS16E02

106.26

107.03

352

0.77

216

0.42

0.19

0.05

0.02

S22

ZK08S22001

75.97

76.67

328

0.70

41

5.50

0.17

0.01

0.01

S22

ZK06S2201

121.51

124.29

321

2.78

182

0.96

0.17

0.07

0.03

S22

ZK4S16W02

128.27

128.8

301

0.53

365

1.30

0.55

0.02

0.02

S22

ZKDB3AS2302

61.97

62.51

774

0.54

341

3.86

1.45

0.03

0.09

S26E

ZK09S2802

149.75

153.35

439

3.60

258

0.50

0.35

0.09

0.01

S28

ZK02BS2001

9.55

10.21

402

0.66

133

0.57

5.93

0.01

0.02

S29

ZK02BS2901

104.65

105.38

393

0.73

47

2.83

6.04

0.05

0.01

S29

ZK00S2901

101.34

101.97

391

0.63

155

1.92

5.97

0.05

0.03

S29

ZK08AS2W005

91.74

92.26

271

0.52

46

4.04

0.89

0.02

0.01

S29

ZK8AS3903

57.16

57.67

252

0.51

536

10.20

2.60

0.01

0.04

S29

ZK08S3904

69.25

69.76

244

0.51

1,281

54.50

8.23

0.02

0.27

S29

ZK60S3103

76.4

76.98

204

0.58

307

4.12

1.07

0.10

0.08

S29

ZK10S2W004

69.03

70.09

270

1.06

427

0.72

2.11

0.02

0.03

S29E

ZK08S3903

41.07

41.65

260

0.58

36

8.05

1.06

0.03

0.01

S29E

ZK8AS3901

44.83

45.36

260

0.53

83

10.24

1.12

0.05

0.02

S29E

ZKDB14S1001

163.28

163.8

411

0.52

188

6.35

1.01

0.08

0.01

S2W

ZK10S2W205

70.41

71.33

380

0.92

30

0.54

8.90

0.05

0.05

S2W

ZK8AS3901

68.05

70.07

258

2.02

201

11.01

0.56

0.05

0.04

S2W

ZK08S3903

78.39

79

257

0.61

169

4.11

0.23

0.02

0.02

S2W

ZK12S201

88.28

89.52

165

1.24

304

7.18

0.58

0.08

0.05

S2W

ZK14AS204

233.15

233.8

-34

0.65

201

5.94

1.06

0.05

0.14

S2W

ZKDB18S2W201

191

192.04

446

1.04

565

7.22

10.44

0.03

0.07

S2W2

ZK12S2W204

52.2

52.72

404

0.52

109

1.52

1.72

0.03

0.02

S2W2

ZK12S2W2012

29.88

30.7

380

0.82

1,250

19.84

3.14

0.07

0.12

S2W2

ZK10S2W205

77.51

78.02

380

0.51

162

3.00

5.97

0.05

0.02

S2W2

ZK12S2W2011

58.97

59.56

378

0.59

463

13.29

20.60

0.12

0.17

S2W2

ZK12S2W2012

48.73

50.95

376

2.22

1,577

19.42

4.26

0.08

0.16

S2W2

ZK12AS1W5004

46.58

47.31

371

0.73

50

0.10

9.20

0.05

0.03

S2W2

ZK10S2W204

104.99

105.61

365

0.62

73

3.82

1.91

0.03

0.01

S2W2

ZK12S2W2013

56.25

56.77

362

0.52

57

1.20

5.27

0.02

0.05

S2W2

ZK12AS1001

3.29

4.17

304

0.88

106

1.92

2.50

0.00

0.00

S2W2

ZK10S2W001

72.78

73.38

289

0.60

1,494

51.82

1.27

0.03

0.07

S2W2

ZK14S1W2003

177.45

177.95

253

0.50

686

0.69

0.07

0.00

0.00

S2W2

ZK12AS1W207

164.37

164.87

223

0.50

127

2.21

0.87

0.12

0.05

S2W2

ZK08AS2W2008

119.66

120.17

160

0.51

173

3.60

1.29

0.00

0.00

S2W2

ZK08AS2W2005

123.1

123.73

159

0.63

592

0.18

0.46

0.09

0.10

S2W2

ZK14S2W2a101

130.55

131.27

133

0.72

295

0.20

0.51

0.00

0.14

S2W2

ZK12AS1W216

213.59

214.1

126

0.51

5,016

4.65

1.34

0.74

0.00

S2W2

ZK10AS2W204

98.54

100.91

124

2.37

189

0.65

2.03

0.00

0.00

S2W2

ZK14AS2W2001

143.62

146.33

83

2.71

128

10.26

4.32

0.00

0.00

S2W2

ZK14AS2W2002

164.37

165.03

79

0.66

85

3.23

1.81

0.00

0.19

S2W2

ZK08AS2W206

168.69

169.2

63

0.51

253

7.92

1.16

0.00

0.00

S2W2

ZK10S2W205

92.1

92.63

378

0.53

134

1.19

6.61

0.05

0.04

S2W2a

ZK14AS2W2002

148.6

150.18

85

1.58

445

0.55

0.14

0.00

0.11

S2W2a

ZK12AS2W208

20.54

21.09

397

0.55

989

5.14

12.84

0.10

0.09

S2W2a1

ZK12S2W204

19.72

22.99

393

3.27

167

1.35

0.30

0.03

0.02

S2W2a1

ZK8AS3901

34.02

34.63

261

0.61

703

5.29

0.53

0.05

0.03

S2W2a1

ZK8AS3903

34.04

34.59

256

0.55

445

30.30

0.10

0.01

0.09

S2W2a1

ZK08S3906

46.72

47.23

254

0.51

162

5.64

1.65

0.05

0.01

S2W2a1

ZK08S3904

50.62

51.15

249

0.53

151

6.62

2.26

0.02

0.02

S2W2a1

ZK12AS1W216

225.06

226.43

119

1.37

403

3.85

0.63

0.12

0.00

S2W2a1

ZK08AS2W003

63.22

63.83

246

0.61

141

3.48

2.26

0.01

0.01

S2Wa

ZK8AS3903

26.58

27.08

257

0.50

121

1.24

1.35

0.06

0.02

S2a

ZK08S3904

27.47

28.07

255

0.60

1,285

27.88

1.75

0.02

0.23

S2a

ZK08AS3912

30.76

31.74

248

0.98

852

13.50

1.02

0.14

0.06

S2a

ZK08AS3911

32.53

33.03

247

0.50

412

10.33

2.43

0.03

0.07

S2a

ZK04S6013

68.19

68.69

434

0.50

72

0.83

4.98

0.05

0.03

S31

ZK4AS2002

63.47

64.43

432

0.96

1,167

0.70

0.34

0.22

0.05

S31

ZK56S3104

153.79

155.45

200

1.66

346

4.77

2.88

0.12

0.06

S31

ZK60S3102

115.87

116.6

200

0.73

154

7.31

5.45

0.05

0.04

S31

ZK10S14W007

62.36

62.86

132

0.50

125

0.55

15.01

0.00

0.00

S31E

ZKDB71S3202

261.45

262.01

666

0.56

2,100

3.26

6.65

0.13

4.16

S32

ZK63AS8E1001

70.48

71.05

636

0.57

1,074

2.24

6.55

0.05

0.73

S32

ZK65S8E1001

69.09

69.75

632

0.66

472

0.47

14.34

0.00

0.95

S32

ZKDB71S3201

279.83

280.38

624

0.55

1,800

8.36

3.22

0.05

0.73

S32

ZK61S32023

109.63

110.13

572

0.50

51

3.81

0.82

0.00

0.00

S32

ZKDB71S3201

275.91

276.46

627

0.55

112

0.33

3.19

0.05

0.23

S32a

ZK04AS37005

129.54

130.13

283

0.59

240

2.75

14.61

0.05

0.04

S37

ZK04S2002

23.8

24.33

442

0.53

752

22.62

8.81



S37E

ZK08S3903

107.18

108.09

254

0.91

1,390

0.70

5.10

0.02

0.38

S39

ZK08S3904

108.38

109

234

0.62

1,415

26.50

5.99

0.02

0.14

S39

ZK08AS2W2005

141.54

143.33

156

1.79

1,654

21.25

3.11

0.07

0.29

S39

ZKDB14S2W001

138.56

139.07

442

0.51

185

7.02

4.65



S4

ZK08AS14_2001

44.46

44.96

301

0.50

422

0.53

0.83

0.00

0.00

S4

ZK08AS6010

55.79

56.32

293

0.53

720

1.65

1.02

0.01

0.02

S4

ZK12S608

102.42

103.02

346

0.60

100

2.62

0.29

0.00

0.00

S4E

ZK12AS601

63.05

63.7

289

0.65

348

0.19

0.11

0.10

0.01

S4E

ZK08AS6010

65.69

66.2

291

0.51

276

12.72

1.51

0.12

0.03

S5

ZKDBS511201

183.23

183.99

878

0.76

43

4.06

2.51

3.21

0.05

S51

ZKDBS511402

169.14

169.79

875

0.65

102

0.34

0.08

1.29

0.02

S51

ZKDBS27E0301

153.32

153.83

849

0.51

1,660

0.21

0.12

0.01

1.61

S54

ZKDB14S6004

45.05

45.64

591

0.59

281

4.53

2.59

0.02

0.04

S6

ZK12S1408

59.43

60.2

502

0.77

150

1.72

0.11

0.02

0.01

S6

ZK2AS2003

66.06

67.82

429

1.76

158

1.72

5.23

0.02

0.04

S6

ZKDB8AS6001

190.49

190.99

424

0.50

208

3.05

2.47

0.01

0.04

S6

ZK14S604

96.03

96.53

366

0.50

198

0.24

0.36



S6

ZK12S14_105

92.02

92.52

364

0.50

350

4.87

0.70

0.00

0.03

S6

ZK12S607

99.67

100.26

342

0.59

353

18.06

10.19

0.00

0.00

S6

ZK12S608

118.12

118.73

340

0.61

151

3.37

0.20

0.00

0.00

S6

ZK04S604

32.94

35.63

324

2.69

304

6.47

2.21

0.03

0.05

S6

ZK12S14_102

75.85

76.39

296

0.54

183

4.12

0.83

0.09

0.02

S6

ZK08AS14_2002

85.69

86.25

296

0.56

83

0.86

6.52

0.00

0.00

S6

ZK08AS14_2001

86.99

87.56

295

0.57

143

2.29

1.23

0.00

0.00

S6

ZK12S14_101

75.88

76.93

295

1.05

275

11.35

2.03

0.05

0.03

S6

ZK10AS14_104

79.41

80.14

294

0.73

69

0.91

9.07

0.05

0.07

S6

ZK12AS604

100.39

101.18

256

0.79

155

4.32

3.41

0.09

0.04

S6

ZK06S6008

83.14

83.67

199

0.53

79

3.36

3.25

0.05

0.01

S6

ZK6AS2W06

143.71

144.64

193

0.93

1,317

9.78

2.25

0.00

0.00

S6

ZK06S6006

96.47

97.82

186

1.35

945

13.62

4.85

0.09

0.10

S6

ZK06S6005

114.11

114.72

185

0.61

104

8.37

4.06

0.03

0.05

S6

ZK04AS6010

101.32

101.97

184

0.65

33

4.79

2.31

0.04

0.01

S6

ZK04AS6011

111.35

114.05

181

2.70

104

2.60

2.59

0.12

0.02

S6

ZK04S6007

163.31

163.91

143

0.60

76

0.53

4.92

0.01

0.06

S6

ZK12AS4E02

5.2

5.71

221

0.51

1,146

10.44

5.19

4.86

0.14

S6E1

ZKDB4S701

98.97

100.53

671

1.56

91

2.48

1.47

0.05

0.02

S7

ZKDB4AS701

92.79

93.93

670

1.14

738

10.75

0.38

0.05

0.01

S7

ZK4AS16E03

15.35

18.37

397

3.02

281

1.75

0.51

0.05

0.04

S7

ZK08S22001

33.08

34.51

343

1.43

263

0.10

0.08

0.01

0.01

S7

ZK02AS7004

85.2

86.91

292

1.71

151

0.77

1.90

0.08

0.05

S7

ZK10AS705

165.45

168.66

254

3.21

452

0.53

1.06

1.10

0.02

S7

ZK10S7006

174.92

175.94

234

1.02

398

4.03

0.60

0.02

0.20

S7

ZK17S7_1004

128.61

129.62

539

1.01

146

5.43

4.00

0.03

0.02

S7_1

ZK17S7_117

33.34

35.46

482

2.12

478

1.53

3.23

0.04

0.05

S7_1

ZK21S7_108

137.48

139.78

468

2.30

264

7.02

0.57

0.03

0.03

S7_1

ZK17S7_119

50.44

52.77

447

2.33

223

4.15

9.54

0.05

0.10

S7_1

ZK13AS7_121

54

56.21

439

2.21

142

2.35

4.13

0.00

0.00

S7_1

ZK21S7_111

136.26

136.79

422

0.53

134

20.74

0.17

0.03

0.01

S7_1

ZK15AS1912

11.79

13.72

304

1.93

501

11.62

13.10

0.10

0.18

S7_1

ZK03S7_201

121.28

123.07

247

1.79

645

1.21

3.77

0.00

0.00

S7_1

ZK03AS7_128

101.36

102.11

231

0.75

112

2.61

0.22

0.00

0.00

S7_1

ZK15S7_101

161.41

162.12

183

0.71

433

11.59

1.08

0.06

0.14

S7_1

ZK11AS19013

69.58

70.1

139

0.52

16

4.83

3.69

0.00

0.04

S7_1

ZK11AS1905

64.47

69.63

139

5.16

198

4.14

1.20

0.00

0.00

S7_1

ZK11S7_1002

103.68

107.17

91

3.49

296

3.87

3.63

0.00

0.00

S7_1

ZK11S7_1003

111.51

112.3

83

0.79

260

1.99

1.06

0.00

0.00

S7_1

ZK06S7_103

485.6

486.37

-171

0.77

137

5.90

0.13

0.46

0.00

S7_1

ZK11S7_1002

89.05

89.55

101

0.50

571

8.58

4.34

0.00

0.00

S7_1E

ZKDB6S702

225.24

225.77

561

0.53

224

1.30

2.88

0.03

0.04

S7_2

ZK21S7_108

126.52

127.07

470

0.55

7,948

22.47

1.42

0.03

1.22

S7_2

ZK13AS7_121

102.82

103.89

424

1.07

58

0.26

9.32

0.00

0.00

S7_2

ZK15S7_1002

92.13

94.3

419

2.17

39

0.20

16.13

0.00

0.00

S7_2

ZK4AS16E03

22.68

23.64

395

0.96

178

3.34

0.66

0.05

0.03

S7_2

ZK4AS16E02

24.66

25.92

391

1.26

568

2.21

1.37

0.05

0.14

S7_2

ZK04S7_2006

149.4

149.91

197

0.51

165

9.21

0.05

0.00

0.00

S7_2

ZK17S7_103

69.48

70.03

600

0.55

161

1.90

0.20

0.05

0.02

S7_2a2

ZK17S7_116

103.39

104.06

507

0.67

157

0.61

2.07

0.01

0.02

S7_2a2

ZK11S1901

52.23

53.59

293

1.36

290

3.57

0.15

0.05

0.06

S7_2a2

ZK13S1903

65.39

66.05

297

0.66

27

0.39

8.85

0.11

0.10

S7_2a3

ZK17AS7_201

90

90.74

439

0.74

291

3.32

2.92

0.02

0.04

S7_3

ZK13AS1911

76.36

76.95

293

0.59

209

0.17

2.05

0.11

0.01

S7_3

ZK0S7005

90.74

91.29

618

0.55

1,934

19.79

3.14

0.02

0.35

S7E

ZK61S3211

43.48

44.23

398

0.75

79

3.04

1.95

0.06

0.06

S7E

ZK02S7E2005

162.36

162.87

515

0.51

859

12.13

0.26

0.00

0.00

S7E2

ZK08S8E01

16.73

17.41

360

0.68

218

0.22

0.56

0.07

0.03

S7E2

ZK8AS8001

17.39

17.89

353

0.50

204

0.19

0.25

0.05

0.01

S7E2

ZK06AS8W01

10.51

11.19

211

0.68

139

1.86

0.28

0.00

0.00

S7E2

ZK06S8W01

10.1

10.74

210

0.64

223

2.66

0.95



S7E2

ZK06AS8W03

11.5

13.21

208

1.71

159

3.58

0.89

0.00

0.00

S7E2

ZK08S8W02

12.98

13.56

206

0.58

485

1.63

0.10

0.00

0.00

S7E2

ZK2AS7_2008

118.07

118.66

202

0.59

207

2.86

4.07

0.10

0.00

S7E2

ZK0S7004

124.57

125.07

630

0.50

1,182

28.77

1.86

0.00

0.00

S7W

ZK0S7003

131.22

131.77

624

0.55

706

14.11

0.51

0.01

0.00

S7W

ZK0S7005

130.02

131.87

607

1.85

745

8.82

1.81

0.02

0.16

S7W

ZK12S7a105

112.79

113.37

287

0.58

284

6.14

1.47

0.25

0.08

S7W

ZK12S7a106

123.98

125.52

267

1.54

200

0.53

0.69

0.05

0.02

S7W

ZK12S7a105

99.4

99.94

290

0.54

70

1.18

0.62

2.38

0.02

S7W1

ZK56S7W101

142.31

143.4

288

1.09

1,186

24.35

0.20

0.20

0.07

S7W1

ZK12S7a106

109.88

110.75

271

0.87

231

0.89

0.83

0.35

0.01

S7W1

ZK12S7a105

124.13

124.71

286

0.58

480

4.51

0.45

0.03

0.04

S7W2

ZK10S7006

153.02

153.52

243

0.50

384

0.83

4.40

0.02

0.18

S7a1

ZKDB2BS8E103

152.74

153.48

736

0.74

149

0.52

1.57

0.01

0.08

S8

ZK19S808

145.86

153.50

517

7.64

162

7.26

0.48

0.01

0.03

S8

ZK19S810

179.13

180.33

472

1.20

197

5.11

0.41

0.03

0.02

S8

ZK11AS8E07

160.75

161.45

186

0.70

465

1.57

0.34

0.04

0.33

S8

ZK13S8E013

167.37

168.83

173

1.46

340

2.95

0.26

0.00

0.43

S8

ZK11AS8E08

166.9

167.77

170

0.87

326

10.80

0.16

0.02

0.09

S8

ZK13S8E014

186.84

188.78

144

1.94

214

2.25

0.31

0.05

0.39

S8

ZKDB32AS801

297.38

298.73

659

1.35

137

11.51

3.70

0.02

0.12

S8E

ZK17S8E04

42.91

44.24

285

1.33

323

3.53

0.11

0.03

0.07

S8E

ZK11S8E04

164.98

167.08

194

2.10

173

8.33

0.25

0.02

0.05

S8E

ZK13S8E014

154.71

155.38

172

0.67

241

3.46

0.20

0.05

0.09

S8E

ZKDB2BS8E103

150.05

151.91

738

1.86

84

0.43

5.08

0.04

0.09

S8E1

ZKDB0S8E102

246.53

248.6

699

2.07

617

4.57

2.52

0.07

0.27

S8E1

ZKDB0S8E101

228.51

231.69

697

3.18

1,877

6.24

2.89

0.06

0.77

S8E1

ZKDB0S8E105

232.38

234.66

668

2.28

113

0.33

6.30

0.00

0.00

S8E1

ZK13S8E013

47.43

48.09

270

0.66

465

5.51

0.53

0.00

0.10

S8Ea

ZK11AS8E06

132.88

133.53

287

0.65

210

0.04

0.02

0.05

0.01

S8W

ZK08S8W02

178.43

179.18

142

0.75

258

1.61

3.38

0.00

0.00

S8W

ZK06AS8W03

174.55

175.05

139

0.50

106

1.51

18.13

0.00

0.00

S8W

ZKDB0S8E102

182.86

183.39

730

0.53

346

0.22

0.11

0.05

0.10

S8W1

ZK06AS8W01

147.62

148.17

187

0.55

24

4.26

1.35

0.00

0.00

S8W2

ZK13S8E015

224.62

225.34

133

0.72

37

3.21

0.18

0.05

0.80

S8Wa

ZK19S8007

122.99

123.63

555

0.64

113

2.13

0.45

0.05

0.01

S8a


Quality Control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contacts or shear/alteration contacts, were split into halves by sawing. The half cores are stored in the Company's core shacks for future reference and checks, and the other half core samples are shipped in securely sealed bags to the Chengde Huakan 514 Geology and Minerals Test and Research Institute in Chengde, Hebei Province, China, 226 km northeast of Beijing, the Zhengzhou Nonferrous Exploration Institute Lab in Zhengzhou, Henan Province, China, and SGS in Tianjin, China. All three labs are ISO9000 certified analytical labs. For analysis, the sample is dried and crushed to minus 1 mm and then split into a 200-300 g subsample which is further pulverized to minus 200 mesh. Two subsamples are prepared from the pulverized sample. One is digested with aqua regia for gold analysis with atomic absorption spectroscopy ("AAS"), and the other is digested by two-acid digestion for analysis of silver, lead, zinc, and copper with AAS.

Channel samples are collected along sample lines perpendicular to the mineralized vein structure in exploration tunnels. Spacing between sampling lines is typically 5 m along strike. Both the mineralized vein and the altered wall rocks are cut by continuous chisel chipping. Sample length ranges from 0.2 m to more than 1 m, depending on the width of the mineralized vein and the mineralization type. Channel samples are prepared and assayed with AAS at Silvercorp's mine laboratory ("Ying Lab") located at the mill complex in Luoning County, Henan Province, China. The Ying lab is officially accredited by the Quality and Technology Monitoring Bureau of Henan Province and is qualified to provide analytical services. The channel samples are dried, crushed and pulverized. A 200 g sample of minus 160 mesh is prepared for assay. A duplicate sample of minus 1 mm is made and kept in the laboratory archives. Gold is analysed by fire assay with AAS finish, while silver, lead, zinc, and copper are assayed by two-acid digestion with AAS finish.

A routine quality assurance/quality control ("QA/QC") procedure is adopted to monitor the analytical quality at each lab. Certified reference materials (CRMs), pulp duplicates and blanks are inserted into each batch of lab samples. QA/QC data at the lab are attached to the assay certificates for each batch of samples.

The Company maintains its own comprehensive QA/QC program to ensure best practices in sample preparation and analysis of the exploration samples. Project geologists regularly insert CRMs, field duplicates and blanks to each batch of 30 core samples to monitor the sample preparation and analysis procedures at the labs. The analytical quality of the labs is further evaluated with external checks by sending approximately 3-5% of the pulp samples to higher level labs to check for lab bias.  Data from both the Company's and the labs' QA/QC programs are reviewed on a timely basis by project geologists.

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

Lon Shaver
Vice President
Silvercorp Metals Inc.

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 press 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. 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", "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 or information.  Forward-looking statements or information 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; 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 or information 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 or information, including, without limitation, social and economic impacts of COVID-19; 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; permits and licenses; 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 and Canada;  environmental risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; 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 or information. Forward-looking statements or information 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 or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended March 31, 2021 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 or information.  

The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.

CAUTIONARY NOTE TO US INVESTORS

The disclosure in this news release and referred to herein was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC").  The terms "proven mineral reserve", "probable mineral reserve" and "mineral reserves" used in this news release are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101.  Accordingly, information contained in this news release providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.

Investors are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "Inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling.  Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity.  An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.  Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.  Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable.  Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.

Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7.  Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021.  The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7.  As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources".  In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves" to be substantially similar to corresponding definitions under the CIM Definition Standards.  During the period leading up to the compliance date of the SEC Modernization Rules, information regarding mineral resources or reserves contained or referenced in this news release may not be comparable to similar information made public by companies that report according to U.S. standards.  While the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards.  Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-reports-high-grade-silver-lead-drill-results-from-the-sgx-mine-301870515.html

SOURCE Silvercorp Metals Inc

Copyright CNW Group 2023

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