Silvercorp Metals Inc (SVM)

Silvercorp Announces the Construction Plan and Schedule for the Development of the Chaarat ZAAV ProjectJune 22, 2026 7:00 AM
PR Newswire (US) Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, June 22, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM), is pleased to announce a budget US$196.3 million for Chaarat ZAAV CJSC ("ZAAV") which includes the development of Tulkubash (Phase 1) and initial expenditures to advance Kyzyltash (Phase 2). The forecast spending for 2026 is US$57 million and the forecast spending for 2027 is US$139 million.ZAAV is a joint venture company with Silvercorp holding a 70% interest and being the operator, and Kyrgyzaltyn holding a 30% free-carried interest. ZAAV holds a 100% interest in the mining license (~7 km2) hosting the fully-permitted Tulkubash/Kyzyltash gold projects as well as surrounding exploration licenses (27.42 km2) hosting the Karator and Ishakuld gold zones (the "Projects") in the Tien Shan area of the Kyrgyz Republic. The Board of Directors of ZAAV has approved the budget outlined in the table below:Cost ItemsTotal($ Million)2026($ Million)2027($ Million)Phase 1 Development of TulkubashMining


Open Pit and Waste Dump51.510.640.9Mine Pit Water Treatment Plant3.0-3.0Mine Auxiliary Facilities8.02.15.9Heap Leach SystemHeap Leach22.78.414.3Crusher26.54.522.0ADR Plant 13.72.311.4Power Station5.31.53.8Process Plant Auxiliary Facilities6.02.13.9Commissioning1.4-1.4General and Administration14.07.26.8Contingency14.23.610.6Total Phase 1166.342.3124.0
Phase 2 Development of KyzyltashDrilling + Studies30.015.015.0



Total Phase 1 & 2196.357.3139.0Phase 1 Development of TulkubashSilvercorp is committed to finance and advance the construction of Tulkubash as a 4 million tonnes of oxidized ore per year open-pit mine/heap leach operation. The Tulkubash project design is based on the Bankable Feasibility Studies completed by Tetra Tech (Joint Ore Reserves Committee ("JORC") Code standard) in 2018, expertized and localized for Kyrgyzstan by Ken Too (Bishkek) in 2020, and further improved (JORC Code standard) in 2021 by LogiProc, a South African firm, with support from Ausenco's Canadian branch. Silvercorp also expects to publish an updated feasibility study, currently in progress by LogiProc, and expected to be completed by July 2026.The Phase 1 Operation Process Flowsheet is a standard heap leach flow sheet, and consists of: 1) ore mined from the open pit is sent to the crushing plant, lower grade ore is sent to the LG Ore Stockpile and waste rock is sent to the Waste Rock Storage; 2) ore is crushed to a target size of P80 of 12.5 mm; 3) crushed ore is trucked and stacked on the Heap Leach Pad; 4) heap leaching comprises a barren solution dripping and a pregnant solution collection system; and 5) carbon absorption, desorption and recovery (ADR plant) and gold refinery building will produce gold doré bars.Open Pit Mining, Stripping, and Waste StorageThe construction contract for the open pit and waste storage work will be based on fixed "unit cost" criteria for each cubic metre of rock removed. To date, five mining contractors, four of them with operations in Kyrgyzstan, have visited the site and have provided initial quotes for the open pit mining, stripping, and waste handling. From these quotes, an estimated bill of quantity ("BoQ") was prepared, along with a budget of $51.5 million based on the quote provided by one of the most experienced contractors.Mine Auxiliary FacilitiesThe Company plans to set up a temporary camp, a powder magazine and carry out road upgrades in 2026, with an estimated cost of US$2.1 million. In 2027, construction of a mine truck maintenance workshop, detonators storage, temporary ore stockpile and other facilities is scheduled, with an estimated cost of US$5.9 million.Heap Leach System The heap leach facility involves the construction of a Crusher, Heap Leach Pad and an ADR Plant at a total capital cost of US$75.6 million. The cost estimates for earthworks are based on the initial, non-binding bidding quotes from Mining Contractors, material cost is based on recent market enquiries in China. Major equipment costs for the crusher are based on vendor quotes. The ADR plant cost estimate is based on the 2021 LogiProc study. Currently, BGRIMM of Beijing has been awarded a contract to redesign the Crusher and ADR plant to the Kyrgyzstan standard, therefore the final budget may be subject to adjustment under the new design. The design work is expected to be completed in stages, with final completion in March 2027.Phase 2 Development of Kyzyltash (2028-2031): Silvercorp and ZAAV will invest in the development of the Kyzyltash sulfide deposit as a 3 to 4 million tonnes per year open pit/underground mine, plus flotation, bacterial oxidization ("BIOX") and carbon in leach ("CIL"). To advance development of Kyzyltash, ZAAV will carry out in-fill drilling to convert inferred resources into higher categories, and complete a series of studies, including a Preliminary Economic Assessment (PEA), a Feasibility Study and Detailed Engineering Design.During 2026, ZAAV plans to conduct a 50,000 to 60,000 metre drilling program, including both in-fill and step-out drilling to convert inferred resource into measured & indicated categories, and to make discoveries to expand the resource base. Currently, three contractors with 12 drill rigs are drilling at the Kyzyltash sulfide zone, including the Contact Zone (CZ) and the Main Zone (MZ). Drilling is generally conducted on spacing grids ranging from 80m×40m to 40m×40m.In addition to geological drilling, geotechnical and hydrological, metallurgical and environmental studies will also be carried out, with a total budget of $15 million in 2026. The budget is based on actual quotes from drilling contracts.In 2027, ZAAV plans to complete a PEA and undertake a further 60,000 m of drilling to support a Pre-Feasibility study (PFS), with the objective of submitting the study to the government for review and permitting. The total budget for the year is $15 million.In 2028, ZAAV plans to complete a Feasibility Study and detailed engineering design for construction, and to commence construction.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 informationSilvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 construction schedule, duration, and costs for the development of the Tulkubash/Kyzyltash gold projects, ore tonnage in 2026 and subsequent three year production, and striping ratio etc. 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; 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 Corp. 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 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 their public reports and filings which are available under its profile at www.sedarplus.ca. View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-announces-the-construction-plan-and-schedule-for-the-development-of-the-chaarat-zaav-project-302806000.htmlSOURCE Silvercorp Metals Inc. Original: Silvercorp Announces the Construction Plan and Schedule for the Development of the Chaarat ZAAV Project

Silvercorp Announces Filing of Updated Technical Report for the Ying Mining DistrictJune 18, 2026 7:42 PM
PR Newswire (US) Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, June 18, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) announces that, further to its news release dated June 12, 2026 (the "Release"), it has filed an updated Technical Report ("Technical Report") titled "NI 43-101 Technical Report Update on the Ying Ag-Pb-Zn-Au Property in Henan Province, People's Republic of China", prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") by AMC Mining Consultants (Canada) Ltd. with a Mineral Reserve and Mineral Resource effective date of December 31, 2025. The Technical Report can be found on the Company's website at www.silvercorpmetals.com and under the Company's profile at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.There are no material differences in the information in the Technical Report and the information contained in the Release.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 informationSilvercorp Metals Inc.Lon Shaver, PresidentPhone: (604) 669-9397Toll Free 1(888) 224-1881Email: investor@silvercorp.caWebsite: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSCertain 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", "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; foreign exchange rates; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; projected amount of ounces of silver to be mined at the Ying Property; estimated mine life, potential to expand mine life and any anticipated changes related thereto; the sufficiency of the Company's capital to finance the Company's operations; estimates of revenues, operation costs, capital expenditures, mine plan, and estimated production from the Company's mines in the Ying Mining District; future mining methods and use of equipment; 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: 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; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner;; 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 acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China, Canada, the United States, Ecuador and Kyrgyzstan; our ability to comply with environmental, health and safety laws; 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 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 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 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.CAUTIONARY NOTE TO US INVESTORSThe technical and scientific information contained herein has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum classification system, which differs significantly from the standards adopted by the U.S. Securities and Exchange Commission (the "SEC"). Accordingly, the technical and scientific information contained herein, including any estimates of mineral reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC. In particular, and without limiting the generality of the foregoing, this news release uses the terms "measured resources," "indicated resources" and "inferred resources" as defined in accordance with NI 43-101 and the CIM Standards.Further to recent amendments, mineral property disclosure requirements in the United States (the "U.S. Rules") are governed by subpart 1300 of Regulation S-K of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") which differ from the CIM Standards. As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure system (the "MJDS"), the Company is not required to provide disclosure on its mineral properties under the U.S. Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. If the Company ceases to be a foreign private issuer or loses its eligibility to file its annual report on Form 40-F pursuant to the MJDS, then the Company will be subject to the U.S. Rules, which differ from the requirements of NI 43-101 and the CIM Standards.Pursuant to the new U.S. Rules, the SEC recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources." In addition, the definitions of "proven mineral reserves" and "probable mineral reserves" under the U.S. Rules are now "substantially similar" to the corresponding standards under NI 43-101. Mineralization described using these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, U.S. investors are cautioned not to assume that any measured mineral resources, indicated mineral resources, or inferred mineral resources that the Company reports are or will be economically or legally mineable. Further, "inferred mineral resources" have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. While the above terms under the U.S. Rules are "substantially similar" to the standards under NI 43-101 and CIM Standards, there are differences in the definitions under the U.S. Rules and CIM 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 U.S. Rules.Additional information relating to the Company, including Silvercorp's Annual Information Form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.silvercorpmetals.com View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-announces-filing-of-updated-technical-report-for-the-ying-mining-district-302805000.htmlSOURCE Silvercorp Metals Inc. Original: Silvercorp Announces Filing of Updated Technical Report for the Ying Mining District

Silvercorp reports a Mineral Reserve increase of 50% in tonnes and 20% in silver ounces for the Ying Mining DistrictJune 12, 2026 8:00 AM
PR Newswire (US) Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, June 12, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report the results of an updated Technical Report ("Ying 2026 Technical Report" or "Technical Report") titled "NI 43-101 Technical Report Update on the Ying Ag-Pb-Zn-Au Property in Henan Province, People's Republic of China", prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") by AMC Mining Consultants (Canada) Ltd. ("AMC") with a Mineral Reserve and Mineral Resource effective date of December 31, 2025. The Ying 2026 Technical Report covers seven underground mines (namely SGX, HZG, HPG, TLP, LME, LMW, and DCG) and the KP underground mine start-up in the Ying Mining District (also collectively referenced as the "Ying Property" and "Ying Mining District").Approximately 106 million ounces (Moz) of silver ("Ag") plus lead, zinc, and gold are projected to be mined at the Ying Property in the currently planned 17-year life of mine (LOM). There remains significant potential to extend the LOM beyond 2042 via further exploration and development, particularly in areas with identified Inferred Resources.Silvercorp Main Observations to the Independent Ying 2026 Technical Report:Lower cut-off grades were applied due to a higher silver price used ($28/oz in 2026 vs $21/oz in 2024).The 2026 Mineral Reserves reflect the replenishment of metals mined-out between June 2024 (effective date of 2024 Technical Report) and December 2025, with approximately 9.8 million ounces of silver ("Moz Ag"), 12.6 thousand ounces of gold ("koz Au"), 38.6 thousand tonnes of lead ("kt Pb") and 5.1 thousand tonnes of zinc ("kt Zn") produced.Ying Mining District LOM metal production AgEq values, which only consider silver plus conversion of gold ounces to equivalent silver ounces[1], are shown in Table 1.Table 1. Ying LOM metal production AgEq valuesYing
MinesFY
2026Q4FY
2027FY
2028FY
2029FY
2030FY
2031FY
2032FY
2033FY
2034FY
2035FY
2036FY
2037FY
2038FY
2039FY
2040FY
2041FY
2042TotalAgEq koz 1,5977,8019,1769,9849,7099,4999,1408,7928,4687,4516,6255,7614,3173,3563,2492,6601,535109,119[1]AgEq (oz) = Ag (oz) + 83.279* Au (oz); Au and Ag prices at US$2,800/oz and US$28/oz. Silvercorp notes that AgEq calculations in the Technical Report consider all metals deemed payable.Note: Numbers may not compute exactly due to rounding.Summary of the Ying 2026 Technical ReportEstimated Measured and Indicated Mineral Resources of 42.18 million tonnes (inclusive of Mineral Reserves) grading 146 grams per tonne ("g/t") Ag, 0.17 g/t Au, 2.24% Pb, and 0.67% Zn, containing 198 Moz Ag, 231 koz Au, 944 kt Pb, and 284 kt Zn.In comparison with the 2024 Technical Report, Measured and Indicated Resource tonnes have increased by 90%, and contained metal has increased by 37% for Ag, 62% for Au, 39% for Pb and 48% for Zn.Estimated Proven and Probable Mineral Reserves of 19 million tonnes grading 174 g/t Ag, 0.17 g/t Au, 2.47% Pb, 0.80% Zn, and 0.04% Cu, containing 106 Moz Ag, 107 koz Au, 472 kt Pb, 150 kt Zn, and 6.7 kt Cu.In comparison with the 2024 Technical Report there has been a 45% increase in total Proven Mineral Reserve tonnes and a 55% increase in total Probable Mineral Reserve tonnes. Total contained metal has increased for silver, gold, lead, and zinc by 20% for Ag, 52% for Au, 16% for Pb, and 22% for Zn.In comparison with the 2024 Technical Report, Inferred Resource tonnes have increased by 54%, and contained metal has decreased by 1% for Ag, 10% for Au, and 4% for Pb, while Zn has increased by 40%.Annual ore production in the LOM plan is projected to rise from the projected full-year FY2026 level of about 1.2 Mt to: 1.3 Mt in FY2027; 1.5Mt in FY2028; and over 1.6 Mt in FY2029, with that level being maintained through to FY2031. From FY2032, production will decline gradually until the projected end of the mine life in 2042.Using the LOM production profile based on the 31 December 2025 Mineral Reserves, with long-term[2] metal prices of $28/oz Ag, $2,800/oz Au, $0.90/lb Pb, $1.20/lb Zn, and $4.40/lb Cu, and a 5% discount rate, pre-tax and post-tax NPVs of $1,275M and $1,030M, respectively, are projected[3] (other assumptions are outlined below).[2] Gold/oz: $4,000 FY2026Q4, $3,500 FY2027; Silver/oz: $80 FY2026Q4, $50 FY2027, $40 FY2028.[3] As a conservative projection measure, 97% factor applied to metal production values in economic assessment.Mineral ResourcesThe December 2025 Mineral Resources were estimated using a block modelling approach in Datamine or Vulcan software for a total of 591 mineralized vein structures for the eight deposits in the Ying Mining District. All grade estimation was completed using inverse distance squared. Grade estimates were completed for silver and lead in all deposits, zinc in select deposits, and gold within select veins at select deposits.The Mineral Resources are reported above cut-offs after applying a minimum practical extraction width of 0.4 m. Diluted grades were estimated for blocks with mineralization widths less than 0.4 m by adding a waste envelope with zero grade. Cut-off grades are based on either in situ values in silver equivalent (AgEq) or gold equivalent (AuEq) terms in grams per tonne and incorporate mining, trucking, and processing costs, with metallurgical recoveries and payable values provided by Silvercorp for each mine and reviewed by the QPs. Equivalency formulas by deposit are shown in the footnotes of the table below.The estimated Mineral Resources and metal content for the Ying Mining District as of December 31, 2025 are detailed in Table 2 below.Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves.Table 2. Ying Mining District – Mineral Resources and metal content for silver, lead, zinc, gold and copper as of December 31, 2025 (inclusive of Mineral Reserves)MineResource
categoryTonnes 
(Mt)Au
grade 
(g/t)Ag
grade 
(g/t)Pb
grade 
(%)Zn
grade 
(%)Cu
grade 
(%)Au
metal
(koz)Ag
metal
(Moz)Pb
metal
(kt)Zn
metal
(kt)Cu
metal
(kt)SGXMeasured6.980.062053.992.080.0313.8545.95278.43145.132.11Indicated5.630.051572.951.660.059.5728.49165.7793.272.54Meas + Ind 12.610.061843.521.890.0423.4374.44444.20238.404.65Inferred3.770.071503.061.210.058.1718.22115.3245.772.04HZGMeasured0.86-2290.89-0.31-6.327.63-2.71Indicated0.87-1890.72-0.28-5.286.27-2.44Meas + Ind1.73-2080.80-0.30-11.6013.90-5.14Inferred0.63-2660.69-0.29-5.394.38-1.85HPGMeasured1.810.82572.420.750.0647.573.3243.6113.531.00Indicated2.270.78471.920.660.0557.013.4443.7815.111.11Meas + Ind4.080.80512.140.700.05104.576.7587.3928.642.11Inferred2.550.79481.570.660.0864.883.9139.9516.891.96TLPMeasured6.510.001312.33-0.050.2127.40151.77-3.22Indicated5.140.001111.89-0.070.5818.3797.46-3.49Meas + Ind11.650.001222.14-0.060.7945.77249.23-6.71Inferred2.060.141132.02-0.099.077.5341.64-1.93LMEMeasured1.550.032161.080.240.031.3410.7516.743.790.53Indicated2.970.091720.930.250.058.2916.4627.797.571.41Meas + Ind4.520.071870.980.250.049.6327.2144.5311.361.94Inferred1.540.161451.060.310.058.097.1916.364.790.79LMW
(Ag-rich veins) Measured2.71-1781.64-0.11-15.4644.47-3.01Indicated2.83-1311.42-0.07-11.9540.05-2.04Meas + Ind5.54-1541.53-0.09-27.4184.52-5.06Inferred1.22-1291.42-0.08-5.0517.35-0.95LMW
(Au-rich veins)Measured0.292.49660.31-0.2622.920.610.90-0.73Indicated0.831.36500.36-0.1936.041.342.96-1.58Meas + Ind1.111.65540.35-0.2158.961.943.86-2.31Inferred0.811.19250.22-0.1231.120.661.81-0.99DCGMeasured0.251.62541.68-0.0412.970.434.17-0.09Indicated0.441.01352.01-0.0214.270.508.84-0.08Meas + Ind0.691.23421.89-0.0327.240.9313.01-0.17Inferred0.351.18352.01-0.0213.410.407.13-0.08KPMeasured-----------Indicated0.250.751971.292.340.005.991.573.205.820.00Meas + Ind0.250.751971.292.340.005.991.573.205.820.00Inferred0.610.391990.771.780.007.663.914.7510.930.00AllMeasured20.940.151642.620.780.0698.86110.24547.72162.4513.41Indicated21.240.191281.870.570.07131.7587.39396.11121.7714.68Meas + Ind42.180.171462.240.670.07230.61197.63943.84284.2228.10Inferred13.550.331201.840.580.08142.4052.26248.7078.3810.60Notes:CIM Definition Standards (2014) were used for reporting.Measured and Indicated Mineral Resources are inclusive of Mineral Reserves.Metal prices: gold US$3,200/troy ounce (oz), silver US$35.00/troy oz, lead US$1.03 per pound (lb), zinc US$1.36/lb, copper US$4.74/lb.Exchange rate: RMB 7.00: US$1.00.Mineral Resources exclude the first 5 m below surface.Veins diluted to minimum extraction width of 0.4 m after estimation except for HZG which was modelled to a minimum width of 0.4 m.COGs: SGX 75 g/t AgEq; HZG 75 g/t AgEq; HPG 0.95 g/t AuEq; TLP 65 g/t AgEq; LME 70 g/t AgEq; LMW silver rich veins 65 g/t AgEq; LMW gold rich veins 0.85 g/t AuEq; DCG 80 g/t AgEq, KP 90 g/t AgEq.AgEq equivalent formulas by mine for silver rich veins:SGX = Ag g/t + 21.3351 * Pb% + 15.7268 * Zn% + 37.3575 * Cu%.HZG = Ag g/t + 19.557 * Pb% + 39.5464 * Cu%.TLP = Ag g/t + 20.4155 * Pb% + 37.2718 * Cu%.LME = Ag g/t + 19.3704 * Pb% + 8.3614 * Zn% + 36.0026 * Cu%.LMW = Ag g/t + 20.6682 * Pb% + 38.6489 * Cu%.DCG = Ag g/t + 19.1772 * Pb% + 33.4296 * Cu%.AuEq equivalent formulas by mine:HPG (all veins) = Au g/t+0.0119*Ag g/t+0.2544*Pb%+0.1888*Zn%+0.4926*Cu%.LMW (gold rich veins: LM21, LM22, LM26, LM27, LM28, LM28a, LM50, LM50_3, LM51, LM52, LM53, LM54, LM54_1, LM54_2, LM55, LM58, LM58_1, LM59, LM59_2) = Au g/t + 0.0133 * Ag g/t + 0.2748 * Pb% + 0.5139 * Cu%.AgEq formulas used for significant gold bearing veins:SGX (Veins S16W, S18E, S21, S74) = Ag g/t + 52.7753 * Au g/t + 21.3351 * Pb% + 15.7268 * Zn% + 37.3575 * Cu%.TLP (T50, T51, T52, T53) = Ag g/t + 54.8113 * Au g/t + 20.4155 * Pb% + 37.2718 * Cu%.LME (Vein LM4E2) = Ag g/t + 46.0927 * Au g/t + 19.3704 * Pb% + 8.3614 * Zn% + 36.0026 * Cu%.DCG (C76, C9_1, C9_2, C9_3, C9_4, C9_5, C9_6, C9E1, C9E3, C9W1) = Ag g/t + 76.6609 * Au g/t + 19.1772 * Pb% + 33.4296 * Cu%.KP (all veins) = Ag g/t + 76.6609 * Au g/t + 19.1772 * Pb% + 17.9076 * Zn% + 33.4296 * Cu%.Processing recovery factors:SGX – 61.3% Au, 95.6% Ag, 96.4% Pb, 70.1% Zn, 90.8% Cu.HZG – 62.2% Au, 95.6% Ag, 88.4% Pb, 96.2% Cu.HPG – 91.0% Au, 88.8% Ag, 90.1% Pb, 66.0% Zn, 93.8% Cu.TLP – 61.8% Au, 92.8% Ag, 89.6% Pb, 88.0% Cu.LME – 53.3% Au, 95.2% Ag, 87.2% Pb, 37.1% Zn, 87.2% Cu.LMW – 87.2% Au, 95.4% Ag, 93.3% Pb, 93.8% Cu.DCG – 75.9% Au, 81.4% Ag, 73.8% Pb, 69.2% Cu.KP - 75.9% Au, 81.4%, Ag, 73.8%, Pb, 68.0 % Zn, 69.2% Cu.Payables: Au – 85%; Ag – 94.5%; Pb – 99.0%; Zn – 76.0%, Cu – 40%.Includes assay results up to and including 31 October 2025.Depleted for mine production to 31 December 2025. Non-recoverable Mineral Resources (sterile areas due to the proximity to stopes, unstable ground or where access to the vein is limited) defined as of 31 December 2025.Where gold grades show zero g/t, this reflects limited numbers of gold veins informing the Mineral Resource.Where copper grades show zero grade, this reflects the low tenor of the copper in the deposits.Numbers may not compute exactly due to rounding.A comparison of Mineral Resource estimates between June 30, 2024 and December 31, 2025 indicates the following:Measured and Indicated tonnes have increased by 90% overall. The Inferred tonnes have increased by 54%.Measured and Indicated grades have decreased for Ag and Au by 28% and 15%, respectively. Measured and Indicated grades have decreased for Pb by 27% and Zn by 22%.Inferred grades decreased for Ag, Au, Pb, and Zn by 42%, 38%, and 9%, respectively.The net result in the Measured and Indicated categories has been an increase in the contained Ag and Au of 37% and 62% respectively. Contained Measured and Indicated Pb and Zn have increased by 39% and 48% respectively.The net result in the Inferred category has been a decrease in the contained Ag, Au, and Pb of 1%, 10%, and 4% respectively. Inferred Zn has increased by 40%.The reasons for the differences in grade, tonnes, and contained metal include changes made to vein interpretations for the 2025 Q4 model, conversion to higher categories arising from drilling and level development, application of different COGs and depletion due to mining. The QPs note that metal prices have increased by 67% for Ag, 78% for Au, 3% for Pb, and 36% for Zn. This has resulted in a reduction in COGs for all deposits. Mineral ReservesThe Mineral Reserve estimation assumes that current stoping practices will continue to be predominant at the Ying property, namely cut and fill resuing and shrinkage stoping for most veins, using hand-held drills (jacklegs) and hand-mucking within stopes, and loading to mine cars by rocker-shovel or by hand. The QP also recognizes the increased use of more mechanized mining techniques at the Ying operations. The typically sub-vertical veins, generally competent ground, reasonably regular vein width, and generally hand-mining techniques using short rounds, allow a significant degree of selectivity and control in the stoping process. Minimum mining widths of 0.5 m for resuing and 1.0 m for shrinkage are assumed. The QP has observed the resuing and shrinkage mining methods at the Ying property on several occasions and considers the minimum extraction and mining width assumptions to be reasonable. Minimum dilution assumptions are 0.10 m of total overbreak for a resuing cut and 0.2 m of total overbreak for a shrinkage stope. Average Ying dilution projections for resuing and shrinkage are 17% and 20%, respectively. Mining recovery factors assumed as 95% for resuing and 92% for shrinkage, room and pillar, and longhole.The QP notes that, for a small number of veins with relatively low-angle dip – generally veins with significant gold content – room and pillar stoping with slushers is now being used at the Property. Longhole stoping has also been recently employed in some areas of the LMW mine.Recent initiatives at the Ying operations have resulted in a +20% increase in annual production in the last two years, with additional mine expansion activities also underway. In the future, the Ying operation plans to develop deeper mining zones within each mining area, as part of an aim to further enhance overall production rates. An increased use of trackless equipment in some mine areas and a focus on more mechanized mining will be a key part of future mine planning.For the total tonnage estimated as Ying Mineral Reserves, approximately 64% is associated with resuing, 32% with shrinkage, 3% with room and pillar, 1% with longhole.The estimated Mineral Reserves and metal content for the Ying Mining District as of December 31, 2025 are detailed in Table 3 below.Table 3. Ying Mining District Mineral Reserve estimates and metal content at December 31, 2025MineCategoryMtAu 
(g/t) Ag 
(g/t) Pb 
(%) Zn 
(%) Cu 
(%) Metal contained in Mineral ReservesAu
(koz)Ag
(Moz)Pb
(kt)Zn
(kt)Cu
(kt)SGXProven4.430.052013.971.89
7.028.6175.983.5
Probable2.810.031983.701.70
2.617.9104.347.8
Subtotal P&P 7.240.042003.871.81
9.646.5280.2131.4
HZGProven0.53
2120.75
0.29
3.64.0
1.5Probable0.56
1850.64
0.26
3.33.5
1.4Subtotal P&P1.09
1980.69
0.28
6.97.5
3.0HPGProven0.681.01622.600.610.0722.31.417.84.10.5Probable0.670.96612.360.690.0620.61.315.74.60.4Subtotal P&P1.350.99622.480.650.0742.82.733.58.70.9TLPProven2.48
1502.28


12.056.5

Probable1.58
1362.01


6.931.9

Subtotal P&P4.07
1452.18


18.988.4

LMEProven0.730.012541.070.24
0.35.97.81.7
Probable1.560.042141.030.25
2.210.716.03.8
Subtotal P&P2.280.032271.040.24
2.516.723.85.6
LMWProven1.410.291811.37
0.1313.28.219.3
1.9Probable1.060.501521.23
0.0917.05.213.1
0.9Subtotal P&P2.480.381681.31
0.1130.213.432.4
2.8DCGProven0.151.64440.46

8.00.20.7

Probable0.211.40251.53

9.60.23.3

Subtotal P&P0.361.50331.08

17.60.43.9

KPProven










Probable0.210.661581.122.20
4.41.12.34.5
Subtotal P&P0.210.661581.122.20
4.41.12.34.5
Ying
Mines Proven10.410.151792.710.870.0450.859.9282.090.43.9Probable8.660.201672.190.710.0356.346.6190.161.72.7Total P&P19.080.171742.470.800.04107.1106.5472.1150.26.7Notes to Mineral Reserve Statement:Cut-off grades (AgEq g/t): SGX – 180 Resuing, 155 Shrinkage; HZG – 150 Resuing, 130 Shrinkage; HPG – 195 Resuing (2.10 AuEq), 175 Shrinkage (1.90 AuEq); TLP – 160 Resuing, 135 Shrinkage; LME – 170 Resuing, 145 Shrinkage, 145 Room & Pillar; LMW – 170 Resuing, 150 Shrinkage, 150 Longhole, 150 Room & Pillar (1.8 g/t AuEq); DCG – 220 Resuing, 195 Shrinkage; KP - 225 Resuing, 205 Shrinkage.Stope Marginal cut-off grades (AgEq g/t): SGX – 155 Resuing, 130 Shrinkage; HZG – 130 Resuing, 110 Shrinkage; HPG – 165 Resuing (1.80 AuEq), 145 Shrinkage (1.60 AuEq); TLP – 230 Resuing, 1.95 Shrinkage; LME – 135 Resuing, 105 Shrinkage, 105 Room & Pillar; LMW - 135 Resuing, 110 Shrinkage, 110 Longhole, 110 Room & Pillar (1.35 AuEq); DCG – 145 Resuing, 125 Shrinkage.Development Ore cut-off grades (AgEq g/t): SGX – 100; HZG – 80; HPG – 115; TLP – 90; LME – 80; LMW – 90; DCG – 90; KP – 95.Unplanned dilution (zero grade) assumed as 0.05 m on each wall of a resuing stope and 0.10 m on each wall of a shrinkage stope. 20% unplanned dilution assumed for LMW longhole. 27%, 31%, and 62% average dilution assumed for Room & Pillar at LME, LMW, and KP, respectively.Mining recovery factors assumed as 95% for resuing and 92% for shrinkage, room and pillar, and longhole.Metal prices: gold US$2,800/troy oz, silver US$28.00/troy oz, lead US$0.90/lb, zinc US$1.20/lb, copper US$4.40/lb.Processing recovery factors: SGX – 61.3% Au, 95.6% Ag, 96.4% Pb, 70.1% Zn, 90.80% Cu; HZG – 62.2% Au, 95.6% Ag, 88.4% Pb, 96.2% Cu; HPG – 91.0% Au, 88.8% Ag, 90.1% Pb, 66.0% Zn, 93.8% Cu; TLP – 61.8% Au; 92.8% Ag, 89.6% Pb, 88.0% Cu; LME – 53.3% Au, 95.2% Ag, 87.2% Pb, 37.1% Zn, 87.2% Cu; LMW – 87.2% Au, 95.4% Ag, 93.3% Pb, 93.8% Cu; DCG – 75.9% Au, 81.4% Ag, 73.8% Pb, 69.2% Cu; KP – 75.9% Au, 81.4% Ag, 73.8% Pb, 68.0% Zn, 69.2% Cu.Payables: Au – 85%; Ag – 94.5%; Pb – 99.0%; Zn – 76.0%, Cu – 40.0%.Exchange rate assumed is RMB 7.00: US$1.00.Numbers may not compute exactly due to rounding.The sensitivity of the Ying Mineral Reserves to variation in COG has been tested by applying a 20% increase in COG to Mineral Reserves at each of the Ying mines. The lowest operating mine sensitivity continues to be seen at SGX. For the entire Ying Mining District, an approximate 16% reduction in AgEq ounces for a 20% COG increase demonstrates moderate overall COG sensitivity.Total Ying Mineral Reserve tonnes are approximately 45% of Mineral Resource (Measured plus Indicated) tonnes. Ag, Au, Pb, Zn, and Cu Mineral Reserve grades are 119%, 103%, 110%, 119%, and 50%, respectively, of the corresponding Measured plus Indicated Mineral Resource grades. Metal conversion percentages for Ag, Au, Pb, Zn, and Cu are 54%, 46%, 50%, 53%, and 24%, respectively.Some significant aspects of a comparison of Mineral Reserve estimates between June 30, 2024 (previous Technical Report) and December 31, 2025 (Ying 2025 Technical Report) are the following:50% increase in total (Proven + Probable) Ying Mineral Reserve tonnes: 45% increase in Proven Mineral Reserves and 55% increase in Probable Mineral Reserves.1% increase in Ying Mineral Reserve Au grade and reductions of 20%, 23%, and 17% in Ag, Pb, and Zn grades, respectively. Increase in Ag, Au, Pb, and Zn metal content of 20%, 52%, 16%, and 22%, respectively.SGX continues to be the leading contributor to the total Ying Mineral Reserves, accounting for 38% of tonnes, 44% of Ag, 9% of Au, 59% of Pb, and 87% of Zn, compared to respective values of 42%, 6%, 44%, 58%, and 90% in the previous Technical Report.34% increase in Mineral Reserve tonnes at SGX. 77% increase in Au grade and 11%, 12% and 12% reductions in Ag, Pb, and Zn grades, respectively. Increases in Ag, Au, Pb, and Zn metal content of 19%, 138%, 19%, and 18%, respectively.TLP remains the second largest contributor to total Ying Mineral Reserves, with 18% of tonnes, 19% of Ag, and 20% of Pb.21% increase in Mineral Reserve tonnes at TLP. 22% decrease in both Ag and Pb grades, with a 6% reduction in both Ag and Pb metal content.LMW remains the third largest contributor to total Ying Mineral Reserves, with 13% of tonnes, 13% of Ag, 28% of Ag, 70% of Pb, and 42% of Cu.48% increase in Mineral Reserve tonnes at LMW. 77% increase in Au grade, with 32% and 36% reductions in Ag and Pb grades, respectively. Increases in Ag and Au metal content of 1% and 162%, respectively; decrease in lead metal content of 6%.40% of Ying total Mineral Reserves Au metal at HPG.First Mineral Reserves of 0.21 Mt at KP.In terms of AgEq metal in total Ying Mineral Reserves, approximate respective contributions are Ag 67%, gold 6%, lead 22%, zinc 5%, and copper 1%.In total Ying Mineral Reserves, SGX, TLP, LME, LMW, HPG, HZG, DCG, and KP contribute 47%, 16%, 12%, 12%, 6%, 1%, and 1% of AgEq metal, respectively.Table 4 summarizes projected LOM production for the Ying operations based on the 31 December 2025 Mineral Reserve estimates.Table 4. Ying Mining District LOM production profileYing MineFY
2026Q4FY
2027FY
2028FY
2029FY
2030FY
2031FY
2032FY
2033FY
2034FY
2035FY
2036FY
2037FY
2038FY
2039FY
2040FY
2041FY
2042Total
LOMProduction
(kt)2781,3081,5031,6441,6161,6001,5841,5521,5161,3741,2611,16683055955047430219,119Au (g/t)0.240.240.240.300.260.210.200.170.180.110.120.120.070.020.010.010.000.18Ag (g/t)169177181176177179174173169170164152165194192183166174Pb (%)2.292.382.322.242.152.362.422.482.542.552.542.542.842.893.302.922.492.47Zn (%)0.500.570.690.720.610.760.670.740.720.690.860.781.141.471.561.241.080.79Cu (%)0.060.060.050.050.050.040.040.030.030.030.040.020.000.000.000.000.000.03AgEq (g/t)  252264270268261266260258256250247235254287296271241260Ag (t)4723227229028528627626825723420717813710910687503,320Notes:1.Numbers may not compute exactly due to rounding.2.Low zinc grades with minimal value not included for HZG, TLP, LME, LMW, and DCG.3.DCG mine plan includes ~ 40kt of Inferred Resources – not material to Ying Mineral Reserves.4.Other very minor and non-material differences between schedule and Mineral Reserves.Economic analysisA high-level economic analysis shows the potential economic impact relative to the latest Mineral Reserve estimations and the associated production schedules. The following Ying realized selling metal prices (Ying averages over projected LOM except where stated), average costs, and exchange rate were used for the economic analysis (all values in $US):• Gold price / troy ounce$3,400 FY2026Q4, $2,975 FY2027, $2,800 LOM• Silver price / troy ounce$76.80 FY2026Q4, $48.00 FY2027, $38.40 FY2028, $26.88 LOM• Lead price/lb$0.90• Zinc price/lb$1.92• Copper price/lb$1.76• Mining cost/t$75.43• Milling cost/t$12.40• Shipping cost/t$3.06• Mineral Resources tax & rights royalty/t $9.87• G&A/t$7.05• Government fees and other taxes/t$3.52• Sustaining and growth capital/t$19.08• Exchange rateUS$1 = CYN7.00The QP notes the following about the above economic parameters:Ying realized metal prices are as per Silvercorp advice and assume the following $US market prices:
Gold/oz: $4,000 FY2026Q4, $3,500 FY2027, $2,800 remaining LOM
Silver/oz: $80 FY2026Q4, $50 FY2027, $40 FY2028, $28 remaining LOM
Lead/lb: $0.90
Zinc/lb: $1.20
Copper/lb: $4.40Other than for FY2026Q4 / FY2027 for gold, and FY2026Q4 / FY2027 / FY2028 for silver, the above market prices are as per those used in the mining COG calculations.The QP also notes that approximate spot metal prices at the time of writing of the Technical Report are: gold - $4,745/oz; silver - $75.50/oz; lead - $0.86/lb; zinc - $1.49/lb, copper - $5.85/lb.Based on the LOM production profile and the metal price and other assumptions shown above, pre-tax and post-tax cashflow projections have been generated. At a 5% discount rate, pre-tax and post-tax net present values (NPVs) of $1,275M and $1,030M, respectively, are projected. Over the LOM, 69.3% of the net revenue is projected to come from silver, 20.1% from lead, 5.4% from gold, 4.6% from zinc, and 0.6% from copper.The Ying mine complex is seen to be a very viable operation with a projected LOM through to 2042 based on Proven and Probable Mineral Reserves. There remains significant potential to extend the LOM beyond 2042 via further exploration and development, particularly in areas with identified Inferred Resources.Qualified PersonsThe eleven authors of the Technical Report are independent Qualified Persons (QPs). Six of the authors have visited the Ying Property. The latest visit, by AMC QPs Mr HA Smith, Mr RJ Chesher, and Mr JE Glanvill, was in May 2026. The immediately preceding AMC visit, by Mr HA Smith, Mr S Robinson, Mr RJ Chesher, and Mr D Claffey, was in February 2024. The latest AMC visit by Dr GK Vartell was in July 2016. During the site visits, aspects of the project have been examined by the QPs, including drill core, exploration sites, underground workings, processing plant, laboratory, tailings management facilities, and other surface infrastructure.The Ying 2025 Technical Report will be made available for review on the SEDAR+ system and on the Company's website at www.silvercorpmetals.com within 45 days of this news release.HA Smith, P.Eng., GK Vartell, P.Geo., S Robinson, P.Geo., RC Stewart, P.Geo. of AMC Mining Consultants (Canada) Ltd.; JE Glanvill, Pr.Sci.Nat., A Wilkins, CGeol, EurGeol. of AMC Consultants (UK) Limited; B Nielsen, MAIG, M Kent, FAusIMM, R Carlson, FAIG, RPGeo. and RJ Chesher, FAusIMM, of AMC Consultants Pty Ltd; and D Claffey, CPEng. of Hillerton Consulting Ltd. are Qualified Persons as defined by National Instrument 43-101. The Qualified Persons have reviewed and consented to this press release and believe it fairly and accurately represents the information in the Technical Report that supports the disclosure.About SilvercorpSilvercorp 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 cashflow 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: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSCertain 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", "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; foreign exchange rates; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; projected amount of ounces of silver to be mined at the Ying Property; estimated mine life, potential to expand mine life and any anticipated changes related thereto; the sufficiency of the Company's capital to finance the Company's operations; estimates of revenues, operation costs, capital expenditures, mine plan, and estimated production from the Company's mines in the Ying Mining District; future mining methods and use of equipment; 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: 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; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner;; 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 acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China, Canada, the United States, Ecuador and Kyrgyzstan; our ability to comply with environmental, health and safety laws; 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 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 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 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.CAUTIONARY NOTE TO US INVESTORS The technical and scientific information contained herein has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum classification system, which differs significantly from the standards adopted by the U.S. Securities and Exchange Commission (the "SEC"). Accordingly, the technical and scientific information contained herein, including any estimates of mineral reserves and mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC. In particular, and without limiting the generality of the foregoing, this news release uses the terms "measured resources," "indicated resources" and "inferred resources" as defined in accordance with NI 43-101 and the CIM Standards.Further to recent amendments, mineral property disclosure requirements in the United States (the "U.S. Rules") are governed by subpart 1300 of Regulation S-K of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") which differ from the CIM Standards. As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure system (the "MJDS"), the Company is not required to provide disclosure on its mineral properties under the U.S. Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. If the Company ceases to be a foreign private issuer or loses its eligibility to file its annual report on Form 40-F pursuant to the MJDS, then the Company will be subject to the U.S. Rules, which differ from the requirements of NI 43-101 and the CIM Standards. Pursuant to the new U.S. Rules, the SEC recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources." In addition, the definitions of "proven mineral reserves" and "probable mineral reserves" under the U.S. Rules are now "substantially similar" to the corresponding standards under NI 43-101. Mineralization described using these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, U.S. investors are cautioned not to assume that any measured mineral resources, indicated mineral resources, or inferred mineral resources that the Company reports are or will be economically or legally mineable. Further, "inferred mineral resources" have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. While the above terms under the U.S. Rules are "substantially similar" to the standards under NI 43-101 and CIM Standards, there are differences in the definitions under the U.S. Rules and CIM 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 U.S. Rules.Additional information relating to the Company, including Silvercorp's Annual Information Form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca on EDGAR at www.sec.gov, and on the Company's website at www.silvercorpmetals.com View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-reports-a-mineral-reserve-increase-of-50-in-tonnes-and-20-in-silver-ounces-for-the-ying-mining-district-302798801.htmlSOURCE Silvercorp Metals Inc. Original: Silvercorp reports a Mineral Reserve increase of 50% in tonnes and 20% in silver ounces for the Ying Mining District

SILVERCORP REPORTS ADJUSTED NET INCOME OF $151 MILLION, $0.69 PER SHARE, AND CASH FLOW FROM OPERATING ACTIVITIES OF $310.6 MILLION FOR FISCAL 2026May 26, 2026 7:50 PM
PR Newswire (Canada) Trading Symbol:   TSX/NYSE AMERICAN: SVMVANCOUVER, BC, May 26, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ("Q4 Fiscal 2026") and twelve months ("Fiscal 2026") ended March 31, 2026. All amounts are expressed in US dollars, and figures may not add due to rounding.HIGHLIGHTS FOR Q4 FISCAL 2026Ongoing production during Chinese New Year: Produced approximately 1.5 million ounces of silver, 2,492 ounces of gold, or approximately 1.6 million ounces of silver equivalent1 (silver and gold only) during the quarter;Record quarterly revenue: Sold approximately 1.5 million ounces of silver, 2,623 ounces of gold, 13.6 million pounds of lead, and 3.9 million pounds of zinc, for revenue of $147.4 million, an increase of 96% over the three months ended March 31, 2025 ("Q4 Fiscal 2025"), mainly driven by a 183% higher average realized silver price of $78.6 per ounce, with silver representing 78% of the quarterly revenue;Cash cost per ounce of silver1 (net of by-product credits): Negative $1.92, significant improvement from $2.49 in Q4 Fiscal 2025 attributable to the more mechanized and less expensive shrinkage mining method;All-in sustaining cost ("AISC") per ounce of silver1 (net of by-product credits): $17.35, 21% higher than $14.31 in Q4 Fiscal 2025, mainly due to higher government taxes linked to increased revenue and higher sustaining capital expenditures;Record adjusted earnings before interest, income tax, depreciation and amortization ("EBITDA")1 attributable to equity shareholders of $98.1 million, or $0.44 per share, compared to $29.8 million or $0.14 per share in Q4 Fiscal 2025;Record adjusted net income1 attributable to equity shareholders of $59.3 million, or $0.27 per share, after excluding the non-cash or one-time items, compared to $14.7 million or $0.07 per share in Q4 Fiscal 2025;Net loss attributable to equity shareholders of $0.7 million, or $0.003 per share, mainly due to a $60.4 million non-cash charge on "mark-to-market" of the fair value of the derivative liabilities related to the convertible notes. In Q4 Fiscal 2026  the Company removed the Convertible Notes' cash settlement option, reclassifying the conversion feature from a derivative liability to equity to avoid future fair value volatility in the Profit & Loss account;Robust cash flow from operating activities of $90.2 million, up $59.5 million, compared to $30.7 million in Q4 Fiscal 2025;Capital expenditures: Spent and capitalized $14.6 million on exploration, development, and equipment and facilities at the China operations and $14.6 million at the Ecuador operations for the development and construction of the El Domo mine;Strong free cash flow1 of $57.9 million, up $43.7 million, compared to $14.2 million in Q4 Fiscal 2025;Completed the acquisition of holding 70% Chaarat ZAAV CJSC ("ZAAV") with a $92 million cash payment to Chaarat Gold Holdings Limited ("Chaarat") on January 23, 2026 and a further $60 million payment to the Kyrgyz government subsequent to the quarter after the government issued to ZAAV a new mining license and license agreement extending the valid period of the mining license a further 30 years from June 25, 2032 to June 25, 2062; andStrong treasury position: ended the period with cash and cash equivalents and short-term investments of $422.3 million, a decrease of $40.5 million from December 31, 2025, and a portfolio of equity investments with a total market value of $274.6 million, an increase of $41.4 million from December 31, 2025.______________________________1Non-GAAP measures, please refer to MD&A section 15 for reconciliation.HIGHLIGHTS FOR FISCAL 2026Steady silver equivalent production: Produced approximately 6.8 million ounces of silver and 8,723 ounces of gold, or approximately 7.5 million ounces of silver equivalent1;Realized silver selling price of $46.44 per ounce after smelter deductions, increased 72% from $26.95 in Fiscal 2025;Record annual revenue of $438.1 million, an increase of 47% over the year ended March 31, 2025 ("Fiscal 2025"), with silver representing 72% of the total revenue;Cash cost per ounce of silver1(net of by-product credits): negative $0.94, improved from negative $0.54 in Fiscal 2025;AISC per ounce of silver1 (net of by-product credits): $14.25,  18% higher than $12.12 in Fiscal 2025, mainly due to higher government taxes linked to increased revenue and an increase in sustaining capital expenditures to increase mining capacity at Ying;Adjusted EBITDA1 attributable to equity shareholders of $238.1 million, or $1.09 per share, compared to $132.2 million or $0.65 per share in Fiscal 2025;Adjusted net income1 attributable to equity shareholders of $150.8 million, or $0.69 per share, after excluding non-cash or one-time items, compared to $75.1 million or $0.37 per share in Fiscal 2025;Net loss attributable to equity shareholders of $9.9 million, or $0.05 per share, mainly due to a $178.5 million non-cash charge on "mark-to-market" of the fair value of the derivative liabilities primarily related to the convertible notes;Cash flow from operating activities of $310.6 million, up $171.9 million, compared to $138.6 million in Fiscal 2025;Capital expenditures: spent and capitalized $75.0 million on exploration, development, and equipment and facilities at the China operations and $49.4 million at the Ecuador operations for the development and construction of the El Domo mine and permitting activities for the Condor project;Free cash flow1 of $181.3 million, up $122.5 million, compared to $58.8 million in Q4 Fiscal 2025;Continued excellence in ESG practices: MSCI ESG rating improved from A to AA, placing the company at a leading level within the industry; Sustainalytics risk score of 21.9, falling within the medium risk category, reflecting the company's effective ESG risk management.CONSOLIDATED FINANCIAL AND OPERATING RESULTS
Three months ended March 31,
Years ended March 31,
20262025Changes
20262025ChangesFinancial Results (in thousands of $, except per share)






Revenue$     147,359$       75,11396 %
$       438,135$    298,89547 %Mine operating earnings99,95926,146282 %
253,708123,551105 %Net loss*(722)(7,585)(91) %
(9,944)58,190(117) %Per share - basic(0.003)(0.03)(91) %
(0.05)0.29(116) %Adjusted earnings*59,25514,747302 %
150,78675,089101 %Per share - basic0.270.07296 %
0.690.3787 %EBITDA*38,8879,680302 %
84,207116,916(28) %Per share0.180.04296 %
0.380.57(33) %Adjusted EBITDA*98,10229,764230 %
238,127132,21180 %Per share0.440.14225 %
1.090.6567 %Cash flow from operating activities90,16430,701194 %
310,568138,631124 %Sustaining capital expenditures12,5519,35334 %
49,06743,93112 %Growth capital expenditures19,7507,175175 %
80,18635,871124 %Free cash flow57,86314,174308 %
181,31558,828208 %Basic weighted average shares outstanding220,862,813217,452,0331 %
219,425,164204,008,0357 %Metals sold






Silver (million ounces)1.51.6(9) %
6.86.9(2) %Gold (ounces)2,6233,465(24) %
8,8577,57717 %Lead (million pounds)13.616.3(17) %
60.062.3(4) %Zinc (million pounds)3.94.5(14) %
21.723.5(7) %Average Selling Price, Net of Value Added Tax and Smelter Charges






Silver ($/ounce)78.5627.78183 %
46.4426.9572 %Gold ($/ounce)4,4082,53374 %
3,5562,35151 %Lead ($/pound)0.980.935 %
0.960.96— %Zinc  ($/pound)1.251.0618 %
1.061.11(5) %Cost Data per ounce of silver, net of by-product credits ($)






Cash cost (1.92)2.49(177) %
(0.94)(0.54)(74) %All-in sustaining cost17.3514.3121 %
14.2512.1218 %Financial Position (in thousands of $) as atMarch 31, 2026December 31,
2025

March 31, 2026March 31,
2025
Cash and cash equivalents and short-term investments$     422,335$      462,840(9) %
422,335462,84014 %Working capital 319,46194,573238 %
319,461310,3593 %*Attributable to equity holdersINDIVIDUAL MINE OPERATING PERFORMANCE (i) Ying Mining DistrictQ4 Fiscal 2026The Ying Mining District delivered a stable Q4 Fiscal 2026, with ore mined of 293,437 tonnes, up 43% over Q4 Fiscal 2025, driven by the increased use of shrinkage mining relative to cut-and-fill re-suing. Mill throughput was 311,677 tonnes, up 2% over Q4 Fiscal 2025.Production was approximately 1.4 million ounces of silver, 2,492 ounces of gold, or 1.5 million ounces of silver equivalent, 12.9 million pounds of lead, and 1.4 million pounds of zinc, representing decreases of 11% in silver, 20% in gold, 18% in silver equivalent, 17% in lead and 30% in zinc, respectively, over Q4 Fiscal 2025. Lower metal production was due to lower head grades, as a result of higher dilution associated with an increase in more cost efficient shrinkage mining. Cash cost per tonne of ore was $78.27 in Q4 Fiscal 2026, down 8% from Q4 Fiscal 2025 and below the lower end of Fiscal 2026 guidance of $86.8. The improvement reflects ongoing mine mechanization and the greater use of cost-efficient shrinkage mining versus labour intensive re-suing mining, boosting mine and mill productivity. Cash cost per ounce of silver, net of by-product credits, was negative $1.03, compared with $3.05 in Q4 Fiscal 2025, driven by the lower cost per tonne and an increase of $0.8 million in by-product credits from revenue of non-silver metals.AISC per tonne of ore was up 11% in Q4 Fiscal 2026, to $134.23, remaining below the Fiscal 2026 guidance range of $157.8–$160.5. AISC per ounce of silver, net of by-product credits, was $13.09, delivering robust margins amid higher silver prices.Fiscal 2026In Fiscal 2026, the Ying Mining District mined approximately 1,211,916 tonnes of ore, up 18% over Fiscal 2025. Mill throughput was 1,188,459 tonnes, up 17% over Fiscal 2025.Production was approximately 6.3 million ounces of silver,  8,723 ounces of gold, or 7.0 million ounces of silver equivalent,  55.1 million pounds of lead, and 6.6 million pounds of zinc, representing a production increase of 16% in gold and production decreases of 1% in silver, 1% in silver equivalent, 3% in lead and 23% in zinc compared to Fiscal 2025. Lower production was due to lower head grades, as a result of a higher dilution associated with an increase in shrinkage mining.  Cash cost per tonne of ore was $79.71 in Fiscal 2026, down 10% from Fiscal 2025 and below the lower end of Fiscal 2026 guidance of $86.8, mainly attributable to improved mining and milling productivity driven by increased underground mechanization. Cash cost per ounce of silver, net of by-product credits, was negative $0.01, compared with $0.62 in Fiscal 2025, driven by the lower cash cost per tonne and an increase of $10.0 million in by-product credits from revenue of non-silver metals.AISC per tonne of ore improved 4% in Fiscal 2026, to $134.19, remaining below the Fiscal 2026 guidance range of $157.8–$160.5. AISC per ounce of silver, net of by-product credits, was $11.49.Mining Permit Expansion ApplicationsAs of March 31, 2026, the Company has completed the mining permits extension and mining capacity expansion for the four mining permits comprising the Ying Mining District, which are the SGX, TLP-LM, HPG, and DCG mining permits. The total mining capacity allowed by the mining permits is 1.32 million tonnes per year.Mining permitSGXTLP-LMHPGDCGYing totalCapacity (tonnes)500,000 p.a.600,000 p.a.120,000 p.a.100,000 p.a.1,320,000 p.a.Expiry dates9/24/203526/02/204129/04/202816/6/2037Production Safety License RenewalFollowing the grant of the new mining permits for SGX, TLP-LM, HPG, and DCG, the Company is working on the renewal of the required production safety licenses. At SGX, the safety facility design has been approved, and it is currently in the construction phase for the mine capacity expansion. At HPG, the safety facility design has been reviewed by the emergency management department of Henan Province, pending final signature. At TLP-LM and DCG, the safety facility designs have been completed and submitted to the emergency management department for approval.Ying Mining DistrictThree months ended
Years ended March 31,
March 31,
2026December 31,
2025September 30, 2025June 30, 2025March 31, 2025
20262025Ore processed (tonnes)







Silver-lead ore279,627299,217235,168252,958265,199
1,066,970927,171Gold ore32,05029,20829,83430,39739,025
121,48986,488
311,677328,425265,002283,355304,224
1,188,4591,013,659Average head grades for silver-lead ore







Silver (grams/tonne)161190207217198
193225Lead (%)2.22.32.62.82.9
2.53.0Zinc (%)0.40.40.40.50.5
0.40.6Average head grades for gold-ore







Gold (grams/tonne)1.11.21.41.51.4
1.31.7Silver (grams/tonne)5457815162
6172Lead (%)0.91.10.90.80.7
0.90.9Recovery rates







Silver (%)95.095.394.894.694.2
95.494.7Gold (%)**90.892.894.293.491.7
92.792.9Lead (%)93.293.693.594.192.3
93.793.6Zinc (%)63.963.065.864.367.3
64.169.7Cash Costs







Cash cost ($/tonne)78.2775.8082.8983.0884.90
79.7188.46AISC ($/tonne)134.23134.06139.22129.83120.62
134.19139.33Cash cost, net of by-product credits ($/ounce of silver)(1.03)(1.22)0.971.263.05
0.010.62AISC, net of by-product credits ($/ounce of silver)13.0911.3211.7510.1011.35
11.499.68Metal Production







Silver (million ounces)1.41.71.51.71.6
6.36.4Gold (ounces)2,4922,0962,0852,0503,110
8,7237,495Silver equivalent (million ounces)1.51.91.71.91.9
7.07.1Lead (million pounds)12.914.712.914.615.6
55.156.8Zinc (million pounds)1.41.91.41.82.0
6.68.6**Gold recovery only refers to the recovery rate for gold ore processed.
(ii) GC MineQ4 Fiscal 2026The GC Mine produced approximately 0.1 million ounces of silver, 1.1 million pounds of lead, and 2.5 million pounds of zinc in Q4 Fiscal 2026, representing an increase of 3% in silver, 51% in lead and 4% in zinc over Q4 Fiscal 2025, primarily attributable to an increase in ore processed.Cash cost per tonne of $71.12 and AISC per tonne of $109.68, and improved 8% and 7%, respectively, from Q4 Fiscal 2025, attributable to a lower unit overhead cost allocation with an increase of 24% in ore processed.On a per ounce of silver, net of by-product credits basis, cash cost and AISC were negative $19.93 and $10.22, respectively, compared to negative $8.53 and $15.05 in Q4 Fiscal 2025. The improvement primarily reflects a $1.0 million increase in by-product credits.Fiscal 2026The GC Mine produced approximately 0.5 million ounces of silver, 5.2 million pounds of lead, and 15.1 million pounds of zinc in Fiscal 2026, representing an increase of 3% in zinc and decreases of 11% in silver and 2% in lead, compared to Fiscal 2025.Cash cost per tonne of $60.08 and AISC per tonne of $87.48, and increased 9% and 5%, respectively, from Fiscal 2025, mainly due to a higher per tonne fixed costs allocation resulting from the decrease in ore production.On a per ounce of silver, net of by-product credits basis, cash cost and AISC were negative $14.23 and $4.70, respectively, compared to negative $14.71 and $3.12 in Fiscal 2025.GC Mine Classification Update The Company has commissioned Changsha Mining Research Institute to prepare the development and utilization plan to change the GC's classification from a lead-zinc mine to a silver mine. GC has an annual production capacity of 300,000 tonnes, is considered a medium-scale operation and is limited to no more than three production levels operating simultaneously. Once classified as a silver mine, GC would be considered large-scale and would no longer be subject to this restriction.GC MineThree months ended
Years ended March 31,
March 31,
2026December 31, 2025September 30,
2025June 30, 2025March 31,
2025
20262025Ore Production (tonne)48,84087,09576,24974,86941,760
287,053299,036Head grades







Silver (grams/tonne)5252646961
5967Lead (%)0.91.00.90.80.9
0.90.9Zinc (%)2.62.92.82.32.9
2.72.5Recovery rates







Silver (%)86.385.985.885.383.7
85.783.1Lead (%)93.589.189.090.187.4
93.489.3Zinc (%)90.692.791.190.090.3
91.390.3Cash Costs







Cash cost ($/tonne)71.1253.3758.2062.5377.46
60.0854.97AISC ($/tonne)109.6868.5382.6399.93117.83
87.4883.36Cash cost,  net of by-product credits ($/ounce of silver)(19.93)(29.05)(11.44)(0.80)(8.53)
(14.23)(14.71)AISC, net of by-product credits ($/ounce of silver)10.22(15.66)4.7120.0215.05
4.703.12Metal Production







Silver (million ounces)0.10.10.10.10.1
0.50.5Lead (million pounds)1.11.71.31.10.7
5.25.3Zinc (million pounds)2.55.14.23.42.4
15.114.8CAPITAL EXPENDITURES AND DEVELOPMENT FOR GROWTHTotal capital expenditures in Fiscal 2026 were $124.4 million, up 44% compared to $86.6 million in Fiscal 2025 mainly due to the expenditures of $39.0 million at the El Domo Project and $4.6 million at the Kuanping project for mine construction.
Capitalized expendituresPlant and
equipmentTotal Capital
expenditures
Ramp, Development
Tunneling, and otherExploration TunnelingExploration Drilling
(Metres)($ Thousand)(Metres)($ Thousand)(Metres)($ Thousand)($ Thousand)($ Thousand)Year ended March 31, 2026







Ying Mining District45,068$   28,67560,147$       23,529138,163$        3,930$       7,442$        63,575GC Mine3,7261,8857,8703,01820,7494536345,990El Domo—45,794————63546,429Condor—2,659——2,268315—2,974Kuanping5,7243,6791,8385881,625791,0795,426Consolidated54,51982,69269,85627,135162,8044,7779,790124,394








Year ended March 31, 2025







Ying Mining District34,486$   23,76462,035$       22,50460,804$        1,942$      22,045$        70,255GC Mine2,6071,6649,5593,57041,3358896066,729El Domo—7,166————3057,471Condor—1,275—————1,275Kuanping—543————284827Consolidated37,09234,41271,59426,074102,1392,83123,24086,557i) Ying Mining DistrictCapitalized expenditures for underground ramps, tunnels and drilling amounted to $56.1 million, plus $7.4 million for plant and equipment, compared to $48.2 million for underground ramps, tunnels and drilling and $22.0 million for plant and equipment in Fiscal 2025.Design and construction of No. 3 Mill commenced in Q4 Fiscal 2026. With a total budget of $31.6 million, it is expected to add 3,000 tonnes per day of capacity and be commissioned in Q1 Fiscal 2028. This will meet the increasing demand for ore processing which is anticipated to reach 1.6 million tonnes per year by fiscal year 2029. With the No.3 Mill in operation, the No. 1 Mill will be decommissioned, leaving Ying with a net effective 6,500 tonnes per day of milling capacity.Additionally, the TLP 35kV Substation and Power Line Construction Project had its construction contract signed on March 9, 2026. The project commenced on April 10, 2026. It is expected to be completed by the end of Q2 Fiscal 2027. This will significantly improve power supply quality and reliability, and will meet the power supply requirements specified in the facilities design for the renewal of its safety production permit.ii) GC Mine Total capitalized expenditures amounted to $6.0 million, primarily for sustaining activities, as compared to $6.7 million in Fiscal 2025.iii) El Domo ProjectCapital expenditures for El Domo totaled $46.4 million, compared to $7.5 million in Fiscal 2025. Mine development activities focused on infrastructure construction such as haul roads, an ore stockpile shed, a waste dump, process plant site preparation, a starter dam for tailing storage facility, a camp, and other site preparations.iv) Kuanping ProjectCapital expenditures for Kuanping amounted to $5.4 million, compared to $0.8 million in Fiscal 2025. Mine construction focused on ramp development for access to ore bodies and mining/exploration tunneling. It produced initial amounts of ore in Q1 2027, which was shipped to Ying's process plant for recovery of metals.v) Condor ProjectTotal expenditures incurred and capitalized were $3.0 million, in which 2,268 metres of diamond drilling was completed to define and upgrade the mineral resources to support potential underground mining. The Company has applied for a small-scale mining environmental license, targeted for Q2 F2027. Once approved, the Company will commence the development of access tunnels to facilitate advanced underground exploration and resource definition.vi) Chaarat ProjectThe Company paid $92 million to Chaarat to acquire 70% of ZAAV and become the operator, with the Government's company Kyrgyzaltyn holding a 30% free-carried interest. Subsequent to the quarter, the Company paid $60 million to the Kyrgyz government after it issued to ZAAV a new mining license and license agreement extending the valid period of the mining license for a further 30 years from June 25, 2032 to June 25, 2062.CONFERENCE CALL DETAILS A conference call to discuss these results will be held on Friday, May 29, at 9:00 am PDT (12:00 pm EDT). To participate in the conference call, please dial the numbers below.Canada/USA TF: 888-510-2154
China Toll: 864000211716
International/Local Toll: 437-900-0527
Conference ID: 21137Participants should dial-in 10 – 15 minutes prior to the start time. A replay of the conference call and transcript will be available on the Company's website at www.silvercorpmetals.com.Mr. Guoliang Ma, P.Geo., Manager of Exploration and Resources of the Company, is the Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and given consent to the technical information contained in this news release.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 informationSilvercorp Metals Inc.Lon Shaver PresidentPhone: (604) 669-9397Toll Free 1(888) 224-1881Email: investor@silvercorp.caWebsite: www.silvercorpmetals.comALTERNATIVE PERFORMANCE (NON-GAAP) MEASURESThis news release should be read in conjunction with the Company's Management Discussion & Analysis ("MD&A"), the audited consolidated financial statements and related notes contains therein for the year ended March 31, 2026, which have been posted on SEDAR+ under the Company's profile at www.sedarplus.ca and on EDGAR at www.sec.gov, and are also available on the Company's website at www.silvercorpmetals.com under the Investor section. This news release refers to various alternative performance (non-IFRS) measures, such as adjusted earnings and adjusted earnings per share, EBITDA and EBITDA per share, adjusted EBITDA and adjusted EBITDA per share, free cash flow, cash cost and all-in sustaining cost per ounce of silver, net of by-product credits, cash cost and AISC per tonne of ore processed, silver equivalent, and working capital. The tonnage of ore production refers to wet tonne, containing approximately 2% to 3% moisture. These measures are widely used in the mining industry as a benchmark for performance, but do not have standardized meanings under IFRS as an indicator of performance and may differ from methods used by other companies with similar description. The detailed description and reconciliation of these alternative performance (non-GAAP) measures have been incorporated by reference and can be found under section 12 – Alternative Performance (Non-GAAP) Measures in the MD&A for the year ended March 31, 2026 filled on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov and which is incorporated by reference here in.CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; 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; the amount of ore to be processed during the Chinese New Year holiday; estimated El Domo and Kuanping mine construction progress, and timing of development ore from the Kuanping project to be available for processing. 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; 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 Corp. and Tincorp Metals Inc.; and the other risk factors described in the Company's Annual Information Form and filed with the U.S. Securities and Exchange Commission as part of the Company's 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. 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 added 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 under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.silvercorp.ca.Cautionary Note to United States Investors Concerning Estimates of Reserves and Resources Reserve and resource estimates included in this news release have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies. View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-reports-adjusted-net-income-of-151-million-0-69-per-share-and-cash-flow-from-operating-activities-of-310-6-million-for-fiscal-2026--302782401.htmlSOURCE Silvercorp Metals Inc. Original: SILVERCORP REPORTS ADJUSTED NET INCOME OF $151 MILLION, $0.69 PER SHARE, AND CASH FLOW FROM OPERATING ACTIVITIES OF $310.6 MILLION FOR FISCAL 2026

Silvercorp Files Listing Application with the Hong Kong Stock ExchangeMay 25, 2026 10:11 PM
PR Newswire (Canada) Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, May 25, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce that the Company has filed an application (the "Listing Application") with the Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") in connection with a proposed triple primary listing (the "Listing") of its common shares (the "Shares") on the Main Board of the Hong Kong Stock Exchange together with a global offering (the "Global Offering") of the Shares.A redacted version of the draft disclosure document for the Listing Application is available on the website of the Hong Kong Stock Exchange website at www.hkexnews.hk/app/appindex.html and on SEDAR+ under the Company's profile at www.sedarplus.ca.  A redacted version of the draft disclosure document for the Listing Application will also be submitted under cover of Form 6-K on EDGAR at www.sec.gov.  The draft disclosure document for Listing Application contains new and supplemental descriptions of certain aspects of the Company's business and financial information as required by the Hong Kong Stock Exchange Listing Rules as well as updated disclosures of certain information previously disclosed by the Company in the documents it submits on SEDAR+ and EDGAR. There is no assurance as to if or when the Listing and the Global Offering will take place. This communication is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any offer, solicitation, or sale of the Company's securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.RegulatoryThe Shares proposed to be issued in connection with the Global Offering have not been and will not be qualified by a prospectus in any jurisdiction in Canada and may not be offered or sold in Canada except pursuant to an available exemption from prospectus requirements under applicable Canadian securities laws.The Shares described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "Securities Act") or any state securities laws in the United States and may not be offered and sold in the United States or to or for the account or benefit of U.S. persons or person in the United States unless the Shares are registered under the Securities Act and any applicable state securities laws, or an exemption from the registration requirements of the Securities Act and any applicable state securities laws are available.The Shares will be offered and sold only outside the United States to persons that are not, and are not acting for the account or benefit of, U.S. persons or persons in the United States, in reliance upon Regulation S under the Securities Act.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 informationSilvercorp Metals Inc.                                     
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1 (888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 triple primary listing of the Shares on the Hong Kong Stock Exchange and a potential Global Offering. 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 the Listing and Global Offering are subject to the receipt of all required regulatory approvals, market conditions and other factors; 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, Ecuador and Kyrgyzstan;  ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; integration and operations of Adventus and Chaarat ZAAV CJSC; environmental risks; natural disasters; dependence on management and key personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations(including flooding and severe weather); 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; uncertainties in geopolitical conditions; public health crises; the Company's investment in New Pacific Metals Corp. and Tincorp Metals Inc.; and the other risk factors described in the Listing Application, 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 are available under its profile at www.sedarplus.ca and www.sec.gov. View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-files-listing-application-with-the-hong-kong-stock-exchange-302781399.htmlSOURCE Silvercorp Metals Inc. Original: Silvercorp Files Listing Application with the Hong Kong Stock Exchange

SILVERCORP DECLARES SEMI-ANNUAL DIVIDEND OF US$0.0125 PER SHAREMay 22, 2026 5:05 PM
PR Newswire (US) Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, May 22, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce that its Board of Directors declared a semi-annual dividend of US$0.0125 per share to be paid to all shareholders of record at the close of business on June 5, 2026, with a payment date of the dividend scheduled on or before June 25, 2026. The dividends are considered eligible dividends for Canadian tax purposes.The declaration and payment of future dividends is at the discretion of the Board of Directors and any future decision to pay dividends will be based on a number of factors including commodity prices, market conditions, financial results, cash flows from operations, expected cash requirements and other relevant factors.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 cashflow 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: investor@silvercorp.ca
Website: www.silvercorpmetals.com View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-declares-semi-annual-dividend-of-us0-0125-per-share-302780471.htmlSOURCE Silvercorp Metals Inc. Original: SILVERCORP DECLARES SEMI-ANNUAL DIVIDEND OF US$0.0125 PER SHARE

SILVERCORP CHANGES FISCAL 2026 FINANCIAL RESULTS RELEASE DATE TO MAY 26, 2026May 22, 2026 8:00 AM
PR Newswire (US) Trading Symbol:   TSX/NYSE AMERICAN: SVMVANCOUVER, BC, May 22, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) provides an update that, as a result of certain scheduling factors, it expects to release its Fiscal 2026 audited financial results on Tuesday, May 26, 2026, after market close.CONFERENCE CALL DETAILS A conference call to discuss these results will be held on Friday, May 29, at 9:00 am PDT (12:00 pm EDT). To participate in the conference call, please dial the numbers below.Canada/USA TF: 888-510-2154
China Toll: 864000211716
International/Local Toll: 437-900-0527
Conference ID: 21137Participants should dial-in 10 – 15 minutes prior to the start time. A replay of the conference call and transcript will be available on the Company's website at www.silvercorpmetals.com.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: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 prospective timing of issuing financial statements and securities filings.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. Assumptions may prove to be incorrect and actual results may differ materially from those anticipated. Consequently, guidance cannot be guaranteed. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.A comprehensive discussion of other risks that impact Silvercorp can also be found in its public reports and filings under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.silvercorp.ca. View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-changes-fiscal-2026-financial-results-release-date-to-may-26-2026-302779951.htmlSOURCE Silvercorp Metals Inc. Original: SILVERCORP CHANGES FISCAL 2026 FINANCIAL RESULTS RELEASE DATE TO MAY 26, 2026

Silvercorp Announces Extension of Mining License for the Tulkubash/Kyzyltash Gold Projects, KyrgyzstanMay 20, 2026 5:05 PM
PR Newswire (US) Trading Symbol:                                                        TSX/NYSE American: SVMVANCOUVER, BC, May 20, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce that, further to its news releases of January 16 and 27, 2026, Silvercorp has successfully converted Chaarat ZAAV CJSC ("ZAAV") into a joint venture company ("JVC") between Silvercorp and Kyrgyzaltyn (a wholly-owned entity of the Kyrgyz Republic), with Silvercorp holding a 70% interest and being the operator of the JVC and Kyrgyzaltyn holding a 30% free-carried interest, per the Share Purchase and Shareholders Agreement ("Shareholders Agreement") with Kyrgyzaltyn.  ZAAV holds a 100% interest in the mining license (~7 square kilometres) hosting the fully-permitted Tulkubash/Kyzyltash gold projects as well as surrounding exploration licenses (27.42 square kilometres) hosting the Karator and Ishakuld gold zones (the "Projects") located in the Tien Shan area of the Kyrgyz Republic.ZAAV has applied for an extension of the JVC's mining license and the Kyrgyzstan government has issued to ZAAV a new mining license and license agreement which extends the valid period of the mining license from June 25, 2032 to June 25, 2062.  Subsequent to this, Silvercorp has made a $60 million cash payment to the Kyrgyzstan government.  Per the Cooperation Agreement the Company signed with the National Investment Agency under the President of the Kyrgyz Republic (the "NIA"), Silvercorp was to pay $60 million (minus the offset bonus payment under applicable Kyrgyz laws).  A further $10 million cash payment will be paid after certain other milestones are achieved. ZAAV has had its first shareholder meeting and the first Board Directors meeting to appoint the General Manager and the CFO, nominated by Silvercorp, and has approved the Phase 1 Development of Tulkubash for 2026-2027. Dr. Rui Feng, Silvercorp Chair and CEO, said: "We are proud to partner with Kyrgyzaltyn and the government of the Kyrgyz Republic to develop the Tulkubash/Kyzyltash gold projects, the largest undeveloped gold deposits in the West Tien Shan gold belt.  With Kyrgyzaltyn as our partner, all interests are aligned for us to begin construction, and ultimately achieve production to establish a win-win enterprise."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 informationSilvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 Company's Kyrgyzstan Operations and future cash payments upon the achievement of certain milestones. 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, Ecuador and Kyrgyzstan;  ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; integration and operations of Adventus and Chaarat ZAAV CJSC; environmental risks; natural disasters; dependence on management and key personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations(including flooding and severe weather); 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; uncertainties in geopolitical conditions; 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 are available under its profile at www.sedarplus.ca. View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-announces-extension-of-mining-license-for-the-tulkubashkyzyltash-gold-projects-kyrgyzstan-302778026.htmlSOURCE Silvercorp Metals Inc. Original: Silvercorp Announces Extension of Mining License for the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan

The Disconnect in Silver MarketsMay 20, 2026 10:57 AM
IH Market News As liquidity drives price action, resilient miners continue producing through the noiseAt a mining site, a haul truck carries tonnes of ore out of the ground.It doesn’t know the price of silver.It doesn’t care about inflation prints, bond yields, or geopolitical headlines.Its job is simple: move material from point A to point B.Whether silver is at $30 or $100, the process continues.The mine is designed around geology and cost, not sentiment.But above ground, in financial markets, everything reacts instantly.Prices move. Positions unwind. Narratives shift.And suddenly, a falling price is interpreted as a failing asset.But the truck is still moving.The ore is still there.The system hasn’t changed.Only the perception has.Markets behave the same way.When pressure hits, prices don’t simply move. They expose what is liquid, what is leveraged, and what can survive forced selling.Silver right now is that system under pressure.It didn’t fail. It revealed the stress around it. The Move Everyone Thinks They Understand Silver has fallen sharply from its peak. A move like that, especially during geopolitical stress, looks like a breakdown.The narrative feels straightforward. War risk rises. Oil spikes. Inflation expectations shift. The dollar strengthens. Risk assets sell off.Silver gets pulled into that move.On the surface, it looks like demand has weakened or that the rally went too far.That is the story being told.But it is not the correct one. XAGUSD/US10Y – Oliver Market Intelligence What Is Actually Happening Beneath the Surface This is not a demand problem. It is a liquidity event.When stress enters the system, capital does not move calmly. It moves fast and often indiscriminately. Institutions are not asking what they want to sell. They are asking what they can sell.Silver sits directly in that category.It is liquid. Widely held. Often part of leveraged positions.So, when margin requirements rise and volatility spikes, silver becomes a source of cash.Positions are unwound. Exposure is reduced. Not because the long-term outlook has changed, but because liquidity is required immediately.This is how modern markets function. A Pattern That Repeats This sequence is not new.In 2008, precious metals sold off alongside equities before recovering.In March 2020, gold and silver both dropped sharply as markets scrambled for liquidity, then reversed and surged.What looks like a breakdown is often just the middle phase of a larger cycle.The difference now is what sits underneath that cycle. Source: Queensland Bullion Company The Structural Shift Beneath the Price While price action in Western markets is being driven by liquidity, the real story is happening elsewhere.Silver is no longer just a monetary metal.It is embedded in the industrial system.The centre of that system is Asia (particularly China) which produces the majority of the world’s solar panels, one of the largest end uses of silver.This is not cyclical demand. It is structural.Solar continues to scale. Electric vehicles expand. Electronics remain dependent on silver’s conductive properties.At the same time, supply is becoming less flexible.Much of global silver production is a byproduct of mining other metals. That limits how quickly supply can respond to price.And increasingly, supply is not just geological.It is political.Export pathways are tightening. Resource control is becoming strategic.So, while price has moved lower, the underlying system is doing something very different:Demand is embedded.
Supply is constrained.
Control is tightening. Where the Market Misreads It This is where the disconnect forms.Short-term price is driven by liquidity.Long-term value is driven by structural demand and constrained supply.Markets tend to misprice that gap.The focus remains on recent price action, while the more important question is who is buying during that weakness, and why. The Operators Beneath the Surface Mining companies sit at the edge of this dynamic.They are leveraged to price in the short term, but anchored to physical assets in the long term.When liquidity exits, they can fall alongside everything else.But their underlying reality does not change nearly as quickly.Take Silvercorp (AMEX:SVM) (TSX:SVM) as an example.Across multiple cycles, the company has built a system designed to operate through volatility, not depend on it.It has produced over 100 million ounces of silver since 2006, generating more than $600 million in profits and over $235 million returned to shareholders. Not just survival, but disciplined capital allocation through the cycle.Costs matter more than narratives in this business.More importantly, it operates with all-in sustaining costs below $14 per ounce, allowing it to remain profitable even during weaker price environments .And that durability is translating right now. In its latest quarter (fiscal Q4 2026 / calendar Q1 2026), Silvercorp delivered record revenue of $147.4 million ( +96% year-on-year) not just riding the move in silver, but amplifying it.Production isn’t standing still either: 6.8 million ounces over the past year, with organic growth ahead. No reliance on a higher price to justify the story, just steady expansion. Full financial results land May 25.This is what resilience looks like.Not predicting price.But surviving it. Original: The Disconnect in Silver Markets

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103May 14, 2026 8:28 PM
PR Newswire (US) Trading Symbol:  TSX: SVM
                               NYSE AMERICAN: SVMThis press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.VANCOUVER, BC , May 14, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) announces that, in connection with the previously announced acquisition by Tincorp Metals Inc. ("Tincorp") (TSXV: TIN) of the Santa Barbara Gold-Copper Project located in southeastern Ecuador (the "Acquisition") disclosed in Tincorp's news release dated February 25, 2026, Silvercorp has acquired beneficial ownership of 15,000,000 Common Shares (as defined below) (the "Consideration Shares") pursuant to a share purchase agreement dated February 24, 2026 among Tincorp, Silvercorp and Silvercorp's wholly-owned subsidiary, Adventus Mining Corporation ("Adventus").On May 13, 2026, Tincorp announced the issuance of an aggregate of 43,750,000 Common shares (each, a "Common Share") and an aggregate of 21,875,000 Common Share purchase warrants upon conversion (the "Conversion") of the 43,750,000 subscription receipts issued by Tincorp on March 24, 2026.Prior to the Conversion and the Acquisition, Silvercorp beneficially owned, directly or indirectly, 20,738,699 Common Shares, representing approximately 28.9% of the issued and outstanding Common Shares. Following the Conversion, Silvercorp beneficially owned, directly or indirectly, approximately 17.9% of the issued and outstanding Common Shares.On May 13, 2026, in connection with the closing of the Acquisition, Tincorp issued the Consideration Shares to Adventus, following which issuance Silvercorp beneficially owned, directly or indirectly, 35,738,699 Common Shares, representing approximately 27.4% of the issued and outstanding Common Shares.The Consideration Shares were acquired as partial consideration for the Acquisition and for investment purposes. Depending on market and other conditions, Silvercorp may from time to time increase or decrease its direct or indirect beneficial ownership of securities of Tincorp through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.Silvercorp will file an early warning report in accordance with applicable Canadian securities laws. The report will be available on the SEDAR+ profile of the Company at www.sedarplus.ca.About SilvercorpSilvercorp Metals Inc. is a Canadian mining company producing silver, gold, lead and zinc from the Ying Mining District and the GC Mine in China.  Silvercorp's additional assets include the development-stage Curipamba copper-gold project, containing the El Domo deposit, and the exploration-stage Condor project in Ecuador.For further informationSilvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free: 1 (888) 224-1881
Email: investor@silvercorp.caCautionary statement on forward-looking informationCertain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release. Such statements include, without limitation, the anticipation that Silvercorp may from time to time increase or decrease its direct or indirect beneficial ownership of securities of Tincorp through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward- looking statements or information, including, but not limited to, risks related to the fact that the Company's management will have broad discretion in determining whether to from time increase or decrease Silvercorp's direct or indirect beneficial ownership of securities of Tincorp through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise; 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; 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 Corp. and Tincorp; and the other risk factors described in the Company's Annual Information Form and other filings with Canadian and U.S. regulators on www.sedar.com and www.sec.gov.Although the forward-looking statements contained in this release are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward- looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release. View original content to download multimedia:https://www.prnewswire.com/news-releases/early-warning-report-issued-pursuant-to-national-instrument-62-103-302773058.htmlSOURCE Silvercorp Metals Inc. Original: EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103

Silvercorp Secures RMB 1.5 Billion (~US$220 Million) Syndicated Term Loan Facilities with 2x Oversubscription, Bolstering Financial Strength for Global Mining GrowthApril 20, 2026 5:05 PM
PR Newswire (US)

Trading Symbol:  TSX/NYSE American: SVMVANCOUVER, BC, April 20, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce that it has entered into a 3-year syndicated term loan facilities agreement (the "Facilities") with a syndicate of international banks.Transaction HighlightsFacilities Size: An aggregate of RMB1.5 billion in principal, approximately US$220 million (with total bank commitments reaching RMB2 billion (approximately US$293 million) — representing a 2x oversubscription against the original target of RMB1 billion).Maturity: 3 years from the date of initial drawdown.Sole mandated lead arranger and bookrunner: Standard Chartered Bank (Hong Kong) Limited.Interest Rates and Fees:Facility A (Floating) in the amount of RMB425,500,000: Floating rate pricing based on CNH HIBOR (1.60% as of March 31, 2026) plus a margin of 1.92% per annumFacility B (Fixed) in the amount of RMB1,047,500,000: Fixed interest rate of 3.67% per annumBoth tranches are subject to reduced interest rates based on the Company's consolidated net leverage ratioFacilities are subject to payment of certain fees, including an upfront feeRepayment Currency: RMB, with future repayments funded from RMB dividends received outside of China from the Company's China operations.Use of Proceeds: for general corporate purposes and to support the Company's global working capital requirements, further optimizing the company's capital structure and strengthening its financial flexibility.Security: The Facility will be guaranteed by, and secured by certain accounts and share security by, the Company and certain subsidiaries of the Company.This landmark financing complements the Company's robust cash reserves, consistent operating cash flow, and established financing platform, reinforcing the financial foundation to deliver on its long-term strategic growth objectives across a global mining portfolio – including growth opportunities in Kyrgyzstan and Ecuador.About SilvercorpSilvercorp 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: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY 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 Facilities, interest rates applicable to the Facilities, fees payable in connection with the Facilities, use of proceeds of the Facilities, timing of future repayment of the Facilities, and the Facilities reinforcing the foundation for the long-term strategic growth objectives of the Company. 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; activities of anti-mining groups; 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 Ecuador and 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; 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 Corp. 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 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 their public reports and filings which are available under its profile at www.sedarplus.ca and www.sec.gov. 





View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-secures-rmb-1-5-billion-us220-million-syndicated-term-loan-facilities-with-2x-oversubscription-bolstering-financial-strength-for-global-mining-growth-302747712.htmlSOURCE Silvercorp Metals Inc.

Original: Silvercorp Secures RMB 1.5 Billion (~US$220 Million) Syndicated Term Loan Facilities with 2x Oversubscription, Bolstering Financial Strength for Global Mining Growth

Silvercorp Reports Operational Results and Financial Results Release Date for Fiscal 2026, and Issues Fiscal 2027 Production, Cash Cost, and Capital Expenditure GuidanceApril 16, 2026 8:38 PM
PR Newswire (Canada)

Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, April 16, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reports production and sales figures for the fourth quarter ("Q4 Fiscal 2026") and fiscal year ended March 31, 2026 ("Fiscal 2026") and the production and cost guidance for the 2027 fiscal year ending March 31, 2027 ("Fiscal 2027"). Silvercorp expects to release its Fiscal 2026 audited financial results on Monday, May 25, 2026, after market close.Q4 Fiscal 2026 Operational Highlights  Record revenue of approximately $147.4 million, an increase of 96% over the same quarter last year ("Q4 Fiscal 2025");Silver production of 1.5 million ounces, a decrease of 11% over Q4 Fiscal 2025; silver equivalent (only silver and gold)i production of 1.6 million ounces, a decrease of 17% compared to 1.9 million ounces in Q4 Fiscal 2025;Lead production of 14.0 million pounds, a decrease of 14% over Q4 Fiscal 2025;Zinc production of 3.9 million pounds, a decrease of 12% over Q4 Fiscal 2025;Kuanping mine construction continued, with 1,335 metres ("m") of ramp development, 313 m of exploration tunneling and 1,625 m of drilling completed;El Domo mine construction continued to advance under enhanced water and soil conservation measures during the heavy rainfall season, with the haul roads and the ore stockpile shed completed; andMSCI ESG rating was upgraded from A to AA.Fiscal 2026 Operational Highlights Record revenue of approximately $438.1 million, an increase of 47% over Fiscal 2025;Ore processed of 1,475,512 tonnes, up 12% over Fiscal 2025, and beat the high end of 1,369,000 tonnes in the Company's annual production guidance;Silver production of approximately 6.8 million ounces, a 2% decrease over Fiscal 2025; gold production of approximately 8,723 ounces, a 16% increase over Fiscal 2025, and silver equivalent of 7.5 million ounces, even with Fiscal 2025; andEl Domo mine completed the site preparation for the processing plant, 5,000 square metre ROM ore shed, construction camp, internal roads, including roads to the TSF construction site, and orders of major equipment.Q4 Fiscal 2026 Operational Results The Ying Mining District processed 311,677 tonnes of ore, up 2% over Q4 Fiscal 2025. Approximately 1.4 million ounces of silver, 2,492 ounces of gold, or 1.5 million ounces of silver equivalent, plus 12.9 million pounds of lead, and 1.4 million pounds of zinc were produced, representing production decreases of 20%, 11%, 18%, 17%, and 30% in gold, silver, silver equivalent, lead and zinc, respectively, over Q4 Fiscal 2025. Lower production was due to lower head grades associated with an increase in shrinkage mining. A total of 48,492 m of drilling and 13,239 m of exploration tunneling were completed in Q4 Fiscal 2026.The GC Mine processed 48,840 tonnes of ore, up 17% over Q4 Fiscal 2025. Approximately 0.1 million ounces of silver, 1.1 million pounds of lead, and 2.5 million pounds of zinc were produced, representing increases of 3%, 51% and 4% in silver, lead and zinc over Q4 Fiscal 2025. A total of 6,050 m of drilling and 1,393 m of exploration tunneling were completed in Q4 Fiscal 2026.
Q4 Fiscal 2026
Q4 Fiscal 2025
Ying Mining DistrictGCConsolidated
Ying Mining DistrictGCConsolidatedSilver-lead Ore Processed (tonnes)279,62748,840328,467
265,19941,760306,959Silver (grams/tonne)16152

19861
Lead (%)2.20.9

2.90.9
Zinc (%)0.42.6

0.52.9








Gold Ore Processed (tonnes)32,050—32,050
39,025—39,025  Gold (grams/tonne)1.1—

1.4—
Silver (grams/tonne)54—

62—
Lead (%)0.9—

0.7—
Total Ore Processed (tonnes)311,67748,840360,517
304,22441,760345,984







Recovery Rates






Silver (%)95.086.3

94.283.7
Gold (%)*90.8—

91.7—
Lead (%)93.293.5

92.387.4
Zinc (%)63.990.6

67.390.3








Metals Produced






Silver (million ounces)1.40.11.5
1.60.11.6Gold (ounces)2,492—2,492
3,110—3,110Silver equivalent (million ounces)1.50.11.6
1.90.11.9Lead (million pounds)12.91.114.0
15.60.716.3Zinc (million pounds)1.42.53.9
2.02.44.4







Metals Sold






Silver (million ounces)1.40.11.5
1.50.11.6Gold (ounces)2,623—2,623
3,465—3,465Lead (million pounds)12.80.813.6
15.50.816.3Zinc (million pounds)1.42.43.9
2.12.44.5*Only representing the gold recovery rate for Gold Ore.Fiscal 2026 Operational Results At the Ying Mining District, 1,188,459 tonnes of ore were processed, up 17% over Fiscal 2025. A total of 6.3 million ounces of silver, 8,723 ounces of gold, or 7.0 million ounces of silver equivalent, 55.1 million pounds of lead and 6.6 million pounds of zinc were produced, representing an increase of 16% in gold and decreases of 1%, 1%, 3% and 23% in silver, silver equivalent, lead and zinc, respectively, over Fiscal 2025.At the GC Mine, 287,053 tonnes of ore were processed, representing a decrease of 4% over Fiscal 2025. A total of 0.5 million ounces of silver, 5.2 million pounds of lead, and 15.1 million pounds of zinc were produced, representing an increase of 3% in zinc, and decreases of 11% and 2% in silver and lead, respectively, over Fiscal 2025.
Year ended March 31, 2026
Year ended March 31, 2025
Ying Mining DistrictGCConsolidated
Ying Mining DistrictGCConsolidatedSilver-lead Ore Processed (tonnes)1,066,970287,0531,354,023
927,171299,0361,226,207Silver (grams/tonne)19359

22567
Lead (%)2.50.9

3.00.9
Zinc (%)0.42.7

0.62.5








Gold Ore Processed (tonnes)121,489—121,489
86,488—86,488  Gold (grams/tonne)1.3—

1.7—
Silver (grams/tonne)61—

72—
Lead (%)0.9—

0.9—
Total Ore Processed (tonnes)1,188,459287,0531,475,512
1,013,659299,0361,312,695







Recovery Rates






Gold (%)*92.7—

92.9

Silver (%)95.485.7

94.783.1
Lead (%)93.793.4

93.689.3
Zinc (%)64.191.3

69.790.3








Metals Produced






Silver (million ounces)6.30.56.8
6.40.56.9Gold (ounces)8,723—8,723
7,495—7,495Silver equivalent (million ounces)7.00.57.5
7.10.57.6Lead (million pounds)55.15.260.4
56.85.362.2Zinc (million pounds)6.615.121.7
8.614.823.3







Metals Sold






Silver (million ounces)6.40.56.8
6.40.56.9Gold (ounces)8,857—8,857
7,577—7,577Lead (million pounds)55.05.060.0
56.85.562.3Zinc (million pounds)6.615.121.7
8.614.923.5*Only representing the gold recovery rate for Gold Ore.Fiscal 2027 Production, Cash Cost, and Capital Expenditure GuidanceGuidance for Fiscal 2027 production, cash and all-in sustaining costs (AISC)In Fiscal 2027, the Company expects to process 1,526,600 to 1,607,000 tonnes of ore, yielding approximately 6.8 to 7.1 million ounces of silver, 9,500 to 10,000 ounces of gold, or 7.5 to 7.8 million ounces of silver equivalent, 62.7 to 65.8 million pounds of lead, and 22.3 to 23.4 million pounds of zinc. The guidance represents increases of 3% to 9% in ore processed, 0.04% to 4% in silver, 9% to 15% in gold, 4% to 9% in lead, and 3% to 8% in zinc production compared to the Fiscal 2026 results.
Fiscal 2027 Guidance
Year ended March 31, 2026ProductionYing Mining DistrictGCConsolidated
Ying Mining DistrictGCConsolidated
LowHighLowHighLowHigh
ActualSilver-lead Ore Processed (tonnes)1,106,0001,164,000290,000305,0001,396,0001,469,000
1,066,970287,0531,354,023Silver (gram/t)20168

19359
Lead (%)2.71.0

2.50.9
Zinc (%)0.42.7

0.42.7











Gold Ore Processed (tonnes)131,000138,000——131,000138,000
121,489—121,489Gold (gram/t)1.7


1.3

Silver (gram/t)42


61

Lead (%)0.5


0.9

Total Ore Processed (tonnes)1,237,0001,302,000290,000305,0001,526,6001,607,000
1,188,459287,0531,475,512










Metal Production









Silver (million ounces)6.46.60.50.56.87.1
6.30.56.8Gold (ounces)9,50010,000——9,50010,000
8,723—8,723Silver Equivalent (million ounces)7.17.30.50.57.57.8
7.00.57.5Lead (million pounds)56.459.26.36.662.765.8
55.15.260.4Zinc (million pounds)6.87.115.516.322.323.4
6.615.121.7











Fiscal 2027 Guidance
Nine months ended December 31, 2025CostsYing Mining DistrictGCConsolidated
Ying Mining DistrictGCConsolidatedCash Cost ($/t)88.290.463.164.683.385.4
80.257.875.5AISC ($/t)155.4161.290.493.3155.3161.2
134.182.9137.2The Ying Mining District plans to process 1,237,000 to 1,302,000 tonnes of ore, including nominal development ore from Kuanping, to produce 6.4 to 6.6 million ounces of silver, 9,500 to 10,000 ounces of gold, 56.4 to 59.2 million pounds of lead, and 6.8 to 7.1 million pounds of zinc for Fiscal 2027. This production guidance represents production increases of 4% to 10% in ore, 0.1% to 4% in silver, 9% to 15% in gold, 2% to 7% in lead and 3% to 8% in zinc, compared to the Fiscal 2026 results.The cash costii at the Ying Mining District is expected to be $88.2 to $90.4 per tonne of ore, compared to the cash cost of $80.2 for the first nine months of Fiscal 2026 ended December 31, 2025. The all-in sustaining cost (AISC)ii is estimated at $155.4 to $161.2 per tonne, higher than the AISC of $134.1 recorded in the first nine months of Fiscal 2026. The higher cash cost and AISC are due to anticipated increases in contractor unit costs and more development tunnels and facilities planned for higher ore production in Fiscal 2027 and beyond. More details on the near and longer term mine plan will be contained in an updated NI 43-101 technical report expected to be released in the coming weeks.The GC Mine plans to process 290,000 to 305,000 tonnes of ore to produce 0.46 to 0.49 million ounces of silver, 6.3 to 6.6 million pounds of lead, and 15.5 to 16.3 million pounds of zinc. Fiscal 2027 production guidance at the GC Mine represents production increases of 1% to 6% in ore and 0.4% to 7% in silver, 20% to 26% in lead and 2% to 8% in zinc compared to the Fiscal 2026 results.The cash cost at the GC Mine is expected to be $63.1 to $64.6 per tonne of ore, compared to $57.8 recorded in the first nine months of Fiscal 2026. The AISC is estimated at $90.4 to $93.3 per tonne of ore processed, compared to $82.9 recorded in the first nine months of Fiscal 2026 as more exploration tunneling has been planned in Fiscal 2027.The consolidated cash cost in Fiscal 2027 is expected to be $83.3 to $85.4 per tonne, while the consolidated AISC is expected to be $155.3 to $161.2 per tonne.Fiscal 2027 capital expenditure guidance for China OperationsThe table below summarizes the capital expenditures the Company expects to incur for our China Operations in Fiscal 2027.
Fiscal 2027 GuidanceYing Mining DistrictGC MineKuanpingTotalCapitalized ExpendituresRamp and Development Tunneling(Metres)53,2004,5007,60065,300($ Million)37.22.73.943.8Exploration Tunneling(Metres)90,20014,2004,400108,800($ Million)35.35.91.442.6Diamond Drilling(Metres)91,10034,3005,300130,700($ Million)2.80.80.23.8Facilities and Equipment($ Million)26.10.71.328.1No. 3 Mill($ Million)22.7——22.7Total($ Million)124.110.16.8141.01. Ying Mining DistrictThe total capital expenditures at the Ying Mining District in Fiscal 2027 is estimated at $124.1 million as the Company continues to increase production and grow its mineral resources.$37.2 million to develop 53,200 m of ramps and tunnels, enabling access for mining of new areas where exploration has identified additional material, to be outlined in the upcoming technical report;$35.3 million to develop 90,200 m of exploration tunnels and to spend $2.8 million to drill 91,100 m of exploration diamond drill holes;$26.1 million in facilities and equipment upgrades. Major items include $6.8 million for mining equipment replacement, $7.6 million for waste dump construction, $4.5 million for substation upgrades and $5.6 million for infrastructure and the TSF; and$22.7 million out of the total $31.6 million to build a new mill, the No. 3 Mill, expected to add 3,000 tonnes per day of capacity, and be commissioned in Q1 Fiscal 2028.The No. 3 Mill is under design and construction, and intended to meet the increasing demand on ore processing at the Ying Mining District where annual mine throughput is expected to reach 1.6 million tonnes per year by fiscal year 2029. The No. 1 Mill will be decommissioned, leaving Ying with a net effective 6,300 tonnes per day of milling capacity.The following table summarizes the estimated budget and construction schedules for the new Mill:CategoryDescriptionTarget Completion ScheduleEstimated Expenditures(in millions of US$)Fiscal 2027Beyond Fiscal 2027TotalDesign & PermittingLand Lease & RezoningApr-260.6-0.6Design & EngineeringMay-260.2-0.2Environmental & Safety AssessmentJul-260.1-0.1Construction & EquipmentSite PreparationApr-260.80.31.1Road ConstructionJun-270.40.20.5Mill ConstructionMar-276.52.89.2Equipment AcquisitionNov-2610.80.611.4InstallationMar-271.02.73.7ContingencyApr-272.42.44.7Total Expenditures
22.78.931.6Development tunneling, equipment replacement and facilities upgrades, other than the new mill, have been included in AISC.2. GC MineThe total capital expenditures at the GC Mine in Fiscal 2027 is estimated at $10.1 million to maintain its production and mineral resources.$2.7 million to develop 4,500 m of ramps and tunnels;$5.9 million to develop 14,200 m of exploration tunnels and to spend $0.8 million to drill 34,300 m of exploration diamond drill holes; and$0.7 million on equipment replacement, facility upgrades and construction.Development tunneling, equipment replacement and facilities upgrade have been included in AISC.3. Kuanping ProjectUnderground mine construction continues as preparations for production move forward, with a total investment of $6.8 million which includes $3.9 million for 7,600 m of ramp and tunnel development, $1.4 million for 4,400 m of exploration tunnels, $0.2 million for 5,300 m of diamond drilling and $1.3 million for equipment and facilities.Fiscal 2027 capital expenditure guidance for Ecuador Operations1. El Domo ProjectThe table below summarizes the costs to construct the El Domo Project:

Fiscal 2027

($ Million)1Package #1 - Site preparation/Roads/Channels/TSF/SWD$                        27.72Package #2 - Open Pit Mining and Stripping23.13Package #3 - Processing Plant Construction and Equipment36.14Temporary and Permanent Camps3.05Packages #4, 5 -Site Infrastructure (bypass roads, power line, standby diesel generators, water treatment plant)23.8
Direct costs sub-total$                      113.76Owner's Contingency11.57Owner's Cost12.88Value added tax (VAT)21.8
Total$                      159.8The total budget for the El Domo project remains unchanged at $283.6 million, consistent with the February revised budget, with an expected completion date of July 1, 2027. Spending in Q4 Fiscal 2026 totaled $15.9 million. Key activities included site preparation for the processing plant, construction of the ore shed, camp and internal roads, and ordering of major equipment.Package #1 - Site Preparation/Roads/Channel/TSF/SWDPackage #1 earthworks and related activities have been conducted by CRCC 14 since January 2025, with the capital costs estimated based on the unit prices as indicated in the contract multiplied by the design quantities of each activity.Package #2 – Open Pit Mining and Stripping The mining contract for the construction and operation of Package #2 was awarded to China Railway 19th Bureau Group Co., Ltd. ("CRCC19") with the cost estimated based on the optimized mine plan and contracted unit rates of drilling, blasting, and hauling etc received from CRCC19. The Company expects to commence stripping of the open pit in April 2026 and a total of 4.1 million cubic metres of sediments and waste rocks will be stripped.Package #3 - Processing Plant Construction and Equipment The detailed process flowsheet and equipment selection for the processing plant construction and equipment have been finalized by Yantai Jinpeng Mining Machinery Co., Ltd, with the cost estimated based on the engineering design, actual contract and purchase prices for major equipment from international vendors, market prices for minor equipment in China plus shipping cost, current construction cost in Ecuador.Power line construction and Stand-by Diesel Power GeneratorsThe construction of the power line is expected to be initiated in June 2026 and should take approximately 12 months to be completed. The 14MW diesel generator sets will be delivered to site by December 2026 for installation and operation before the completion of the process plant. This mitigation plan will ensure that power is available for commissioning of the process plant in July 2027, regardless of the status of the external power line.2. Condor ProjectIn Fiscal 2027, the Company plans first to obtain the environmental permit for small-scale mining, which will then allow the development of two 1,500 metre long underground tunnels totalling 3,000 metres that will provide access to the main ore bodies and to carry out underground drilling to upgrade mineral resource categories into measured and indicated. Based on these results, a Pre-Feasibility or Feasibility Study Report can be completed for a 5,000 t/d underground mine, processing plant and related tailings storage facility per the PEA dated December 22, 2025. The company will also pool with two other property owners that have "small-scale mining permits" and the local community to build a 1,000 tonne per day mill, TSF starter dam, and associated infrastructure. The total capital expenditures at the Condor Project are estimated at $10.9 million in Fiscal 2027.Fiscal 2027 capital expenditure guidance for Kyrgyzstan OperationsThe Company is preparing a separate press release with guidance for its Kyrgyzstan Operations.Qualified PersonGuoliang Ma, P. Geo., Manager of Exploration and Resource of the Company, is the Qualified Person for Silvercorp for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed and approved the technical information contained in this news release.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: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 Fiscal 2026 audited financial results; guidance for Fiscal 2027 production, cash and AISC; capital expenditures for China Operations in Fiscal 2027; construction of the No. 3 Mill and annual mine throughput at the Ying Mining District; timing of updated NI 43-101 technical reports; total budget for the El Domo project; construction and capital expenditures for the El Domo and Kuanping mines; permitting, development, completion of pre-feasibility study, and capital expenditures for Condor Project; and timing of guidance for the Company's Kyrgyzstan Operations. 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, Ecuador and Kyrgyzstan; ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; integration and operations of Adventus and Chaarat ZAAV CJSC; environmental risks; natural disasters; dependence on management and key personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations(including flooding and severe weather); 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; uncertainties in geopolitical conditions; 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 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.ii Cash cost and all-in sustaining cost per tonne are non-GAAP measures. Cash cost per tonne is calculated based on the total cash cost on a sales basis, adjusted for changes in inventory, to arrive at total cash cost that is related to ore production during the period. The total cash cost is then further divided into mining cost, shipping cost, and milling cost. Cash cost per tonne is the total of per tonne mining cost, per tonne shipping cost, and per tonne milling cost. All-in sustaining cash cost per tonne is the extension of the cash cost per tonne. All-in sustaining cost per tonne is based on the Company's cash cost, and further include general and administrative expenses, government fees and other taxes, reclamation costs accretion, lease liability payments, and sustaining capital expenditures that are already paid. Mineral resources tax, which mainly is levied based on revenue, are not included in the calculation of all-in sustaining cost.





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Original: Silvercorp Reports Operational Results and Financial Results Release Date for Fiscal 2026, and Issues Fiscal 2027 Production, Cash Cost, and Capital Expenditure Guidance

The AI Boom Needs More Silver, and Investors are Taking NoticeApril 9, 2026 7:00 AM
IH Market News
As artificial intelligence drives the scale and growing power consumption of data centers, the long-term demand outlook for industrial silver is on the rise.But silver supply is falling short, and silver mining companies prepared to meet demand are strong candidates for growth-oriented investments.Silver is the metal best suited to power an electrifying, digitizing world. As data centers and AI proliferate, silver is crucial to the mission-critical task of keeping servers and spaces cool and running seamlessly.With its superior conductive qualities, silver is essential to industrial processes ranging from solar power to manufacturing of electric vehicles and everyday electronics.



AI and the Growth of Data Center Infrastructure



The world’s digital infrastructure is skyrocketing. Since 2000, total global information technology power capacity has increased by about 53 times, or 5,252 percent, from .93 gigawatts to nearly 50 gigawatts, according to the Silver Institute.Looking ahead, nearly 100 GW of new data centers are projected to come online between 2026 and 2030, doubling global capacity at a 14 percent CAGR, according to JLL’s 2026 Global Data Center Outlook.Hyperscalers — the cloud service providers operating massive data centers to support their workloads and data volume – are investing $7 trillion through 2030 to scale their data centers with the hardware, processors, memory, storage, and energy essential to operations, reports McKinsey.Driven by increasingly powerful AI functions and applications, global electricity consumption from data centers is expected to double, from 448 terawatt hours (TWh) in 2025 to 980 TWh by 2030, according to Gartner.



Silver: Playing a Critical Role in AI Infrastructure



Information technology’s hunger for power correlates directly to increased demand for silver, which is essential to servers, circuit boards, connectors, switches, and power systems, reports the Silver Institute.According to Oxford Economics’ “Silver: The New Metal,” silver is essential to data centers for its:




Highest electrical conductivity. Conductivity minimizes power loss across connectors and circuits – a must for data-center servers consuming huge quantities of electricity and expected to perform at 99.999 percent critical uptime.



Excellent thermal conductivity. Silver-based thermal materials stabilize temperature ranges for heat-sensitive servers while reducing energy demands for cooling.



High corrosion resistance. Silver resists degradation from high electrical loads and fluctuating temperatures.




AI’s power to drive other technological advancements will continue boosting silver demand “far beyond” data centers, adds Oxford Economics. Autonomous vehicles, robotics, and edge computing devices need silver-rich fuses, switches, and sensors.



Industrial Demand for Silver Is Reaching Record Levels



Silver is irreplaceable in industry, which consumes 59 percent of global silver output. A world running on electronics and electrifying its energy production needs silver for its superior electrical conductivity, durability, and versatility.In addition to the global IT infrastructure, the Silver Institute notes that major consumers of industrial silver include:




Solar photovoltaics: Silver paste applied to the silicon wafers in solar panels efficiently collects and transports electrons. By 2024, the solar energy sector demanded 29 percent of global silver supply , up from 11 percent in 2024. 



Automotives and electric vehicles: Global automotive silver demand is expected to rise at 3.4 percent CAGR between 2025 and 2031. All automotives need silver to activate the connections within their sophisticated electronics systems. Electric vehicles – projected to account for 59 percent of global automotive sales by 2031 – consume twice the silver used in internal-combustion engine vehicles, requiring silver for battery management systems, power electronics, charging infrastructure, and electrical contacts.



Advanced electronics: Demand for silver used in electronics is at record highs. Cell phones, monitors, televisions, children’s toys, keyboards need silver for their light-touch on/off switches, electrical pathways, and batteries. 




Silver Supply Is Struggling to Keep Pace



In a world clamoring for silver, demand outpaces supply. Steady mine production of 844 million ounces in 2025 is still short by 150 million ounces in 2026, or about 15 percent of total need , according to the Silver Institute.Currently, silver mining generates from 70 percent to 75 percent of supply, while silver recycled from such sources as industrial waste and jewelry provides the rest, according to the World Silver Survey 2025.Silver produced as a byproduct of lead/zinc mining constitutes the largest share of global supply, at 29.4 percent , but production remains flat. Production from primary silver mines is a close second, at 27.8 percent, with worldwide production on the decline, even amid a sustained supply deficit.



Why Investors Are Looking at Silver



Investors turn to silver for its assurances of long-term growth and its responsiveness to economic cycles. Long-term demand is healthy due to silver’s indispensability to manufacturing and the digitization of the global economy.Silver’s stability makes it a safe haven and a hedge for investors protecting their portfolio values amid uncertain macro economic environments and global strife.   According to the latest World Silver Survey, 2024 was “an exceptionally good year for silver,” with a 21 percent intra-year price increase, a 59 percent trough-to-peak rally, and robust fundamentals underscored by silver’s fourth consecutive structural deficit.



Why Some Investors Prefer Silver Mining Companies



Investors gain exposure to silver through equity options that diversify their portfolios, hedge against uncertainty, and yield promising returns. They can buy physical silver through their individual retirement accounts, buy into silver-based exchange-traded funds (ETF) and mutual funds, or invest directly in mining stocks.Stock in mining companies gives investors a direct line to silver production. Silver mining companies create value through growth in exploration, development, and production. Silver mining companies can offer higher upside in strong silver markets, and may return capital back to investors through dividend and share buyback programs.Silver mining companies offer advantageous operational leverage through their relatively fixed costs in relation to strong silver prices. The value of silver is on the rise, topping $100 per ounce in late 2025 and above $70 as of late March 2026, while production costs remain stable.



Why Silvercorp



As the silver deficit continues, mining companies poised to contribute significant quantities to supply are ripe for investment. Leading players include Silvercorp, a profitable, undervalued silver producer positioned for growth.Silvercorp (TSX:SVM) (AMEX:SVM), a Canadian mining company, is an established silver producer with best-in-class operations, producing about 7.5 million ounces of silver equivalent, plus about 90 million pounds of lead and zinc per year at their mines in China.Silvercorp offers a trailing 12-month all-in sustaining cost of less than $14 per ounce, net of by-products. Silver production from Silvercorp’s flagship Ying Mining District is increasing with mine optimization and development of the Kuanping satellite mine. Plus, a sizeable resource base supports extension of its Ying and Gaocheng (GC) reserve life of approximately 15 years.In addition, Silvercorp’s diversified pipeline of actionable growth projects in Ecuador, and Kyrgyzstan is in or entering construction. By 2027, they will begin enhancing global metal supply, including substantial amounts of copper, gold and silver, at low all-in sustaining costs. Silvercorp presents compelling value for investors in peer-leading margins, return on equity, and leverage to silver. The industry-leading company trades at a discount to peers, selling below market value on multiple metrics that include a 0.6x P/NAV – the price-to-net asset value that compares market price to market value of underlying assets and reaches as high as +2x among peers.Silvercorp is well covered by institutional brokers, with buy and outperform recommendations from most research analysts. Its highly liquid stock trades about $90 million daily across the US and Canada.More information on Silvercorp, trading on the NYSE American and TSX as SVM, can be found at www.silvercorpmetals.com/welcome.

Original: The AI Boom Needs More Silver, and Investors are Taking Notice

Silvercorp: This Is How We Will Triple Production by 2027 | PDAC 2026

Silvercorp Announces Filing of MRE for the Tulkubash/Kyzyltash Gold Projects, KyrgyzstanMarch 6, 2026 6:47 PM
PR Newswire (Canada)

Trading Symbol:  TSX/NYSE American: SVMVANCOUVER, BC, March 6, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) announces the filing of its updated Mineral Resource Estimate for the Tulkubash and Kyzyltash Chaarat Gold Projects (the "Projects") in the Republic of Kyrgyzstan titled: "NI 43-101 Technical Report and Updated Mineral Resource Estimate for the Tulkubash And Kyzyltash Chaarat Gold Project Republic Of Kyrgyzstan" (the "Technical Report"). The Technical Report is effective October 15, 2025.The Technical Report was prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and can be found on the Company's website at www.silvercorpmetals.com and under the Company's profile at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.Qualified Persons The Technical Report was prepared by the Company's Technical Services department consisting of Ms. Lei Xue, B.Sc., P.Geo. and Dr. Donovan Pienaar, Ph.D., M.Sc., MBA, under the supervision of Guoliang Ma (P.Geo.), and Alex Zhang (P.Geo.) who serve as the Company's qualified persons as defined under NI 43-101. The specific sections for which each qualified person is responsible is outlined in the Technical Report. All such qualified persons have reviewed the technical content relevant to the sections of the Technical Report for which they are responsible and have approved its dissemination.This news release has been reviewed and approved by Guoliang Ma, P. Geo., Manager of Exploration and Resource of the Company who is the designated qualified person for the Company.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 informationSilvercorp Metals Inc.
Lon Shaver, President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com





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Original: Silvercorp Announces Filing of MRE for the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan

This is the strongest junior I have ever I have ever seen! Going bye bye, lol

Rick Rule on Silvercorp, Mexico Risk & Real Returns

Silvercorp Metals at the BMO Global Metals, Mining & Critical Minerals Conference - February 2026

U.S. Silver Mining Stocks Climb as Metal Prices Reach Two-Week PeakFebruary 23, 2026 8:38 AM
IH Market News
Shares of U.S.-listed silver mining companies moved higher in premarket trading on Monday after silver prices rallied to their strongest level in more than two weeks.Spot silver advanced 2.6% to $86.73 per ounce, supported by a weaker U.S. dollar following a Supreme Court ruling that challenged President Donald Trump’s tariff measures.Among individual miners, Hecla Mining (NYSE:HL) rose 2.2%, while Coeur Mining (NYSE:CDE) gained 1.4%.Canadian-listed producers also participated in the rally, with Endeavour Silver (NYSE:EXK) up 2%, Silvercorp Metals (AMEX:SVM) climbing 2.4%, and Wheaton Precious Metals (NYSE:WPM) advancing 2.1%.Exchange-traded funds linked to silver prices also posted gains, as the Abrdn Physical Silver Shares ETF (AMEX:SIVR) and the iShares Silver Trust (AMEX:SLV) each increased by 2.3%.Silver price

Original: U.S. Silver Mining Stocks Climb as Metal Prices Reach Two-Week Peak

Polymetallic Explorers Gain Ground as Copper Deficit Reshapes Discovery PremiumsFebruary 11, 2026 9:42 AM
PR Newswire (Canada)

Issued on behalf of GoldHaven Resource Corp. VANCOUVER, BC, Feb. 11, 2026 /CNW/ -- Equity Insider News Commentary — The International Copper Study Group now projects a 150,000-tonne refined copper deficit for 2026, reversing its earlier surplus forecast as production growth slows to just 0.9% against demand that continues to outpace new supply[1]. Federal investment is widening beyond rare earths to cover high-risk minerals including tungsten and antimony, with MINING.COM reporting that Washington's 2026 policy agenda will prioritize processing capacity for metals where the U.S. remains almost entirely dependent on foreign supply[2]. GoldHaven Resources (CSE: GOH), Emerita Resources (TSXV: EMO), Amaroq (TSXV: AMRQ), Silvercorp (NYSE-A: SVM) and Electra Battery Materials (NASDAQ: ELBM) are positioned across that expanding critical minerals spectrum.







Boston Consulting Group's January analysis warns that isolated government and corporate efforts to reconfigure supply chains are insufficient, calling instead for coordinated mineral ecosystems that link producers, processors and buyers under shared pricing and offtake structures[3]. Institutions are positioning for that structural shift: the EU, U.S. and Japan are expected to sign a trilateral memorandum of understanding on critical raw materials cooperation within 30 days of the February 4 ministerial, targeting joint investment in mining, refining and recycling to reduce dependence on Chinese-controlled supply[4].GoldHaven Resources (CSE: GOH) (OTCQB: GHVNF) has confirmed anomalous tungsten mineralization at its Magno Property in northwestern British Columbia. The company's 2025 surface exploration program identified a previously undocumented tungsten zone at the Vines Lake showing, where assays returned up to 6,550 parts per million tungsten. These results validate historical tungsten data at the Kuhn and Dead Goat showings while expanding the known footprint across multiple structurally controlled skarn zones spanning approximately 1.3 kilometers of strike length."These results represent a meaningful step forward in defining Magno as a large, zoned, intrusion-related mineral system," said Robert Birmingham, President and CEO of GoldHaven. "The confirmation of high-grade silver-lead-zinc mineralization, extensive tungsten, elevated copper within intrusive rocks, and strong bismuth-tellurium pathfinder anomalies reinforces our interpretation of a porphyry-driven system at depth. The emerging geological and metal zonation patterns share important similarities with Coeur Mining's Silvertip district, while Magno's broader critical-metal footprint highlights the potential for a multi-commodity discovery with district-scale upside."The tungsten discovery comes at a strategically important time for Western economies. China implemented strict export controls on tungsten throughout 2025, and the country controls over 80% of global tungsten supply. The metal possesses the highest melting point of any element, making it essential for cutting tools, defense applications including ammunition and armor, semiconductor manufacturing, and energy infrastructure. These export restrictions have elevated tungsten to critical mineral status across North America and Europe.The 2025 program at Magno successfully verified historical showings while discovering tungsten at Vines Lake where previous sampling had not documented the metal. Results from 357 samples revealed bonanza silver grades up to 2,370 grams per tonne alongside lead values exceeding 20% and zinc reaching 3.8% at the Magno and D-Zone carbonate replacement occurrences. Forty-five samples returned over 100 grams per tonne silver. The discovery of indium adds another strategic dimension, with values up to 334 parts per million. Indium is used in electronics and renewable energy technologies.GoldHaven has also completed its inaugural diamond drilling program at the Copeçal Gold Project in Brazil. Nine holes totaling 1,085.7 meters tested priority targets and discovered bornite, which suggests potential for a substantial gold-copper system. The company also confirmed high-grade copper mineralization at its Three Guardsmen Project, with surface sampling returning grades up to 15.85% copper.GoldHaven now controls 133,186.16 hectares across proven mining jurisdictions with multiple projects advancing simultaneously and assay results pending from Copeçal. All projects are supported by a comprehensive 43-101 Technical Report.CONTINUED… Read this and more news for GoldHaven Resources at: https://equity-insider.com/2025/10/02/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration-2/In other industry developments and happenings in the market include:Emerita Resources (TSXV: EMO) (OTCQX: EMOTF) intersected 9.2 meters grading 1.4% copper, 0.4% lead, 1.3% zinc, 0.41 g/t gold and 21.48 g/t silver in drill hole EC094 at its El Cura deposit in Spain. Additional notable results from ongoing drilling included 5.6 meters grading 1.2% copper, 0.6% lead, 1.3% zinc, 0.82 g/t gold and 28.00 g/t silver in hole EC093, extending mineralization across approximately 420 meters along strike and 460 meters down-dip.El Cura is part of Emerita Resources' wholly owned Iberian Belt West project which hosts three Volcanogenic Massive Sulfide deposits currently undergoing Prefeasibility Studies. Assay results for 91 holes were prepared in mid-January for inclusion into the NI 43-101 Mineral Resource Estimate that will be used in the PFS, representing a substantial increase over the 39 holes considered in the 2025 El Cura maiden MRE.Amaroq (TSXV: AMRQ) (OTCQX: AMRQF) has confirmed high-grade iron and copper-gold potential at its Minturn prospect in northwest Greenland following 2025 exploration results revealing surface magnetite grades up to 69.5% iron across a nine-kilometre strike. The reinterpretation of historical geophysical data suggests Minturn represents a Kiruna-style Iron Oxide Copper Gold system with extensive iron oxide alteration and brecciation, supported by soil sampling across parallel electromagnetic anomalies indicating copper and gold mineralization potential."These initial results from Minturn demonstrate that Greenland has the geological ingredients to host truly elephant-scale mineral systems," said James Gilbertson, VP Exploration of Amaroq. "The identification of what appears to be a Kiruna-style IOCG project, underpinned by extensive iron oxide alteration and very high iron grades at surface, represents a significant strategic step for Amaroq and its joint venture company, Gardaq."Amaroq is designing an aggressive 2026 follow-up campaign including scout drilling, detailed mapping and ground geophysical surveys to delineate the extent of the mineralized system. The company identified preliminary analyses showing low levels of impurities in iron-rich samples which supports potential Direct Shipping Ore applications for Direct Reduced Iron products.Silvercorp (NYSE-A: SVM) (TSX: SVM) has updated its budget for the El Domo copper-gold project in Ecuador to $284 million, representing a $44 million increase primarily driven by VAT rate adjustments and equipment additions. The company spent $44.5 million in 2025 advancing site preparation and achieved significant milestones including moving over 2.6 million cubic metres of material and completing a 600-bed construction camp with more than 960,000 hours worked without major incidents.Based on the refined budget, Silvercorp has scheduled El Domo for production by July 1, 2027, representing a six-month delay from the previous early-2027 target. The company expects to execute a mining contract with China Railway 19th Bureau Group valued at $35 million for the construction phase and approximately $63 million for five years of operations.Electra Battery Materials (NASDAQ: ELBM) (TSXV: ELBM) has awarded a contract worth $6.1 million to EXP Services for project management and engineering support during the construction phase of its Ontario cobalt sulfate refinery. The facility is advancing toward mechanical completion in H1 2027 with commissioning and production expected in the following months."Partnering with EXP provides Electra with the additional project and construction management support needed as we move into the final phase of refinery development," said Paolo Toscano, VP Project & Engineering of Electra Battery Materials. "The team is committed to safety and timely execution as we work to build capacity for a domestic supply of battery-grade materials."The refinery represents North America's only cobalt sulfate facility under development and is positioned to produce 5,100 tonnes of battery-grade cobalt annually once operational, with planned expansion to 6,500 tonnes per year. Electra Battery Materials maintains a cash position supporting the completion of key civil, mechanical and structural work including foundations, utilities and installation of solvent extraction and crystallizer equipment.Article Sources:
https://equity-insider.com/2025/10/02/the-goldhaven-story-two-continents-one-strategy-systematic-historic-gold-district-exploration-2/ and https://equity-insider.com/goh-profile CONTACT:
Equity Insider
info @athomedadDISCLAIMER: : Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity-Insider is wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is is being distributed for Baystreet.ca Media Corp. ("BAY"), who has been paid a fee of $75,000 for an advertising campaign. MIQ has not been paid a fee for GoldHaven Resources Corp. advertising or digital media, but the owner/operators of MIQ also co-owns BAY. There may also be 3rd parties who may have shares of GoldHaven Resources Corp. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by GoldHaven Resources Corp. The scientific and technical information disclosed in this document have been reviewed and approved by two Qualified Persons (QPs). The Copeçal Technical Report identifies Jean-Marc Lopez, B.Sc., FAusIMM, as the Qualified Person responsible for the report. The report "GoldHaven Resources Completes Summer Exploration Programs" states that the technical information has been reviewed and approved by Jonathan Victor Hill, B.Sc. Hons, FAusIMM, an independent Qualified Person and Country Manager of GoldHaven. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.SOURCES CITED:https://www.mining.com/coppers-tight-supply-and-tariff-risks-set-for-a-volatile-2026/https://www.mining.com/how-2026-will-reshape-the-us-critical-mineral-resilience/https://www.bcg.com/publications/2026/why-ecosystems-matter-in-critical-mineral-supply-chainshttps://www.euronews.com/my-europe/2026/02/05/eu-us-and-japan-to-cooperate-on-critical-raw-materials-supply-chainsLogo - https://mma.prnewswire.com/media/2840019/5793836/Equity_Insider_Logo.jpg



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Original: Polymetallic Explorers Gain Ground as Copper Deficit Reshapes Discovery Premiums

SILVERCORP REPORTS ADJUSTED NET INCOME OF $47.9 MILLION, $0.22 PER SHARE, AND CASH FLOW FROM OPERATING ACTIVITIES OF $132.9 MILLION FOR Q3 FISCAL 2026February 9, 2026 7:01 PM
PR Newswire (US)

Trading Symbol:  TSX/NYSE AMERICAN: SVMVANCOUVER, BC, Feb. 9, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ended December 31, 2025 ("Q3 Fiscal 2026"). All amounts are expressed in US dollars, and figures may not add due to rounding.HIGHLIGHTS FOR Q3 Fiscal 2026Steady Silver Equivalent Production: Produced approximately 1.9 million ounces of silver, 2,096 ounces of gold, or approximately 2.0 million ounces of silver equivalent1 (silver and gold only);Record Quarterly Revenue: Sold approximately 1.9 million ounces of silver, 2,250 ounces of gold, 16.4 million pounds of lead, and 7.0 million pounds of zinc, for revenue of $126.1 million, an increase of 51% over the three months ended December 31, 2024 ("Q3 Fiscal 2025");Realized silver selling price: $49.0 per ounce after smelter deduction, with silver representing 72% of the quarterly revenue;Cash cost per ounce of silver (net of by-product credits)1: negative $3.02, significant improvement from negative $1.88 in Q3 Fiscal 2025;All-in sustaining cost per ounce of silver ("AISC")1 (net of by-product credits): $12.86, remaining flat with $12.75 in Q3 Fiscal 2025;Adjusted net income1 attributable to equity shareholders: $47.9 million, or $0.22 per share, after excluding non-cash or one-time items, compared to $22.0 million or $0.10 per share in Q3 Fiscal 2025;Adjusted earnings before interest, income tax, depreciation and amortization ("EBITDA")1: $66.7 million, or $0.30 per share, compared to $40.1 million or $0.18 per share in Q3 Fiscal 2025;Net loss attributable to equity shareholders: $15.8 million, or $0.07 per share, mainly due to a $60.2 million non-cash charge on "mark-to-market" of the fair value of convertible notes;Record cash flow from operating activities: $132.9 million, up $88.1 million, compared to $44.8 million in Q3 Fiscal 2025, including the $43.9 million draw-down from Wheaton Precious Metals in October 2025;Record free cash flow1: $89.6 million, up $69.0 million, compared to $20.5 million in Q3 Fiscal 2025; andCash position: Ended the period with cash and cash equivalents and short-term investments of $462.8 million, an increase of $80.6 million from the previous quarter, and a portfolio of equity investments with a total market value of $233.2 million, an increase of $53.0 million from the previous quarter.________________________________1Non-GAAP measures, please refer to MD&A section 12 for reconciliation.CONSOLIDATED FINANCIAL AND OPERATING RESULTS
Three months ended December 31,
Nine months ended December 31,
20252024Changes
20252024ChangesFinancial Results (in thousands of $, except per share)






Revenue$        126,112$            83,61451 %
$           290,776$      223,78230 %Mine operating earnings77,06829,230164 %
153,74997,40558 %Net income (loss)*(15,832)26,130(161) %
(9,222)65,775(114) %Per share - basic(0.07)0.12(160) %
(0.04)0.33(113) %Adjusted earnings*47,93121,963118 %
91,53160,34252 %Per share - basic0.220.10115 %
0.420.3038 %EBITDA*5,98443,760(86) %
45,321107,236(58) %Per share0.030.20(86) %
0.210.54(61) %Adjusted EBITDA*66,73540,12266 %
140,024102,44737 %Per share0.300.1864 %
0.640.5125 %Cash flow from operating activities132,94344,847196 %
220,404107,930104 %Sustaining capital expenditures13,72714,152(3) %
36,51634,5806 %Growth capital expenditures29,64810,173191 %
60,43628,696111 %Free cash flow89,56820,522336 %
123,45244,654176 %Basic weighted average shares outstanding218,585,686217,475,2791 %
218,290,025199,608,1819 %Metals sold






Silver (million ounces)1.92.0(4) %
5.45.3— %Gold (ounces)2,2501,87520 %
6,2344,11252 %Lead (million pounds)16.417.1(4) %
46.446.01 %Zinc (million pounds)7.06.66 %
17.919.0(6) %Average Selling Price, Net of Value Added Tax and Smelter Charges






Silver ($/ounce)48.9727.2080 %
37.6626.7041 %Gold ($/ounce)3,6662,32258 %
3,1972,19845 %Lead ($/pound)0.980.944 %
0.950.98(3) %Zinc  ($/pound)1.081.22(11) %
1.011.12(10) %Cost Data per ounce of silver, net of by-product credits ($)






Cash cost (3.02)(1.88)(61) %
(0.68)(1.46)53 %All-in sustaining cost12.8612.751 %
13.4111.4617 %Financial Position (in thousands of $) as atDecember 31,
2025September 30,
2025

December 31, 2025March 31, 2025
Cash and cash equivalents and short-term investments$        462,840$          382,25421 %
462,840369,05625 %Working capital 94,573311,882(70) %
94,573310,359(70) %*Attributable to equity holdersINDIVIDUAL MINE OPERATING PERFORMANCEThe Ying Mining District delivered a strong Q3 Fiscal 2026, with record ore mined of 365,370 tonnes, up 23% over Q3 Fiscal 2025, driven by increased use of shrinkage mining relative to cut-and-fill re-suing. Mill throughput was 328,425 tonnes, up 18% over Q3 Fiscal 2025.Production was approximately 1.7 million ounces of silver, 2,096 ounces of gold, or 1.9 million ounces of silver equivalent, 14.7 million pounds of lead, and 1.9 million pounds of zinc, representing an increase of 2% in gold and decreases of 2%, 4%, 4%, and 16% in silver, silver equivalent, lead and zinc, respectively, over Q3 Fiscal 2025. Lower production was due to lower head grades, as a result of the XRT sorter undergoing maintenance in October 2025 and higher dilution associated with shrinkage mining.Cash cost per tonne of ore was $75.80 in Q3 Fiscal 2026, down 11% from Q3 Fiscal 2025 and below the Fiscal 2026 guidance range of $86.8–$88.4. The improvement reflects ongoing mine mechanization and greater use of cost-efficient shrinkage mining, boosting mine and mill productivity. On a per ounce of silver, net of by-product credits basis, cash cost was negative $1.22, compared with negative $0.30 in Q3 Fiscal 2025, driven by these factors and a $3.5 million increase in by-product credits.AISC per tonne of ore improved 11% in Q3 Fiscal 2026, to $134.06, remaining below the Fiscal 2026 guidance range of $157.8–$160.5. On a per ounce of silver, net of by-product credits basis, AISC was $11.32, supporting robust margins amid higher silver prices.The mines in the Ying Mining District are expected to be closed for three weeks during the Chinese New Year period in February, but the process plant will continue to operate during the holiday to process the 61,105 tonnes stockpiled at the end of this quarter together with ore stockpiled in January 2026.Ying Mining DistrictThree months ended
Nine months ended December 31,
December 31,
2025September
30, 2025June 30, 2025March 31,
2025December 31,
2024
20252024Ore processed (tonnes)







Silver-lead ore299,217235,168252,958265,199255,783
787,343661,972Gold ore29,20829,83430,39739,02521,912
89,43947,463
328,425265,002283,355304,224277,695
876,782709,435Average head grades for silver-lead ore







Silver (grams/tonne)190207217189226
204239Lead (%)2.32.62.82.92.9
2.63.0Zinc (%)0.40.40.50.50.6
0.50.6Average head grades for gold-ore







Gold (grams/tonne)1.21.41.51.42.1
1.31.9Silver (grams/tonne)5781516267
6380Lead (%)1.10.90.80.70.7
0.91.0Recovery rates







Silver (%)95.394.894.694.294.7
95.594.8Gold (%)**92.894.293.491.794.6
93.593.6Lead (%)93.693.594.192.394.0
93.894.1Zinc (%)63.065.864.367.368.9
64.270.6Cash Costs







Cash cost ($/tonne)75.8082.8983.0884.9084.92
80.1889.21AISC ($/tonne)134.06139.22129.83120.62150.87
134.13146.58Cash cost, net of by-product credits ($/ounce of silver)(1.22)0.971.263.05(0.30)
0.30(0.14)AISC, net of by-product credits ($/ounce of silver)11.3211.7510.1011.3511.05
11.049.16Metal Production







Silver (million ounces)1.71.51.71.61.8
5.04.9Gold (ounces)2,0962,0852,0503,1102,056
6,2314,385Silver equivalent (million ounces)1.91.71.91.92.0
5.55.2Lead (million pounds)14.712.914.615.615.2
42.241.3Zinc (million pounds)1.91.41.82.02.3
5.26.5**Gold recovery only refers to the recovery rate for gold ore processed.
The GC Mine produced approximately 0.1 million ounces of silver, 1.7 million pounds of lead, and 5.1 million pounds of zinc in Q3 Fiscal 2026, representing an increase of 15% in zinc and decreases of 28% in silver and 6% in lead over Q3 Fiscal 2025, primarily due to head grades. The GC mine is expected to process approximately 50,000 tonnes of ore in Q4 Fiscal 2026.Cash cost per tonne of $53.37 and AISC per tonne of $68.53 were below the Fiscal 2026 Guidance, and improved 1% and 9%, respectively, from Q3 Fiscal 2025, due to higher ore production and lower sustaining capital expenditures.On a per ounce of silver, net of by-product credits basis, cash cost and AISC were negative $29.05 and negative $15.66, respectively, compared to negative $19.14 and negative $6.13 in Q3 Fiscal 2025. The improvement primarily reflects a $0.7 million increase in by-product credits.GC MineThree months ended
Nine months ended December 31,
December 31,
2025September 30, 2025June 30, 2025March 31,
2025December 31, 2024
20252024Ore Production (tonne)87,09576,24974,86941,76084,115
238,212257,276Head grades







Silver (grams/tonne)5264696177
6167Lead (%)1.00.90.80.91.1
0.90.9Zinc (%)2.92.82.32.92.7
2.72.5Recovery rates







Silver (%)85.985.885.383.782.8
85.683.0Lead (%)89.189.090.187.490.3
89.489.6Zinc (%)92.791.190.090.390.3
91.490.3Cash Costs







Cash cost ($/tonne)53.3758.2062.5377.4653.69
57.7951.40AISC ($/tonne)68.5382.6399.93117.8375.55
82.9177.85Cash cost,  net of by-product credits ($/ounce of silver)(29.05)(11.44)(0.80)(8.53)(19.14)
(13.21)(15.77)AISC, net of by-product credits ($/ounce of silver)(15.66)4.7120.0215.05(6.13)
3.721.07Metal Production







Silver (million ounces)0.10.10.10.10.2
0.40.5Lead (million pounds)1.71.31.10.71.9
4.24.6Zinc (million pounds)5.14.23.42.44.4
12.712.4CAPITAL EXPENDITURES AND DEVELOPMENT FOR GROWTH
Total capital expenditures in Q3 Fiscal 2026 were $44.3 million, up 75% compared to $25.3 million in Q3 Fiscal 2025, mainly due to on-going construction at the El Domo project and the Kuanping Mine.For the Ying Mining District, capitalized expenditures for underground ramps, tunnels and drilling amounted to $17.7 million, plus $4.0 million for plant and equipment, compared to $20.1 million for underground tunnels and $7.0 million for plant and equipment in Q3 Fiscal 2025.For the GC Mine, capitalized expenditures amounted to $1.8 million, flat compared to $1.8 million in Q3 Fiscal 2025.Capital expenditures for El Domo totaled $18.0 million, compared to $1.8 million in Q3 Fiscal 2025. Mine development activities focused on infrastructure construction such as internal roads, waste dump, process plant site preparation, starter dam for tailing storage facility ("TSF"), camp, and other site preparations.Capital expenditures for Kuanping totalled $2.4 million, compared to $0.2 million in Q3 Fiscal 2025. Mine construction focused on ramp development for access to ore bodies and mining/ exploration tunneling. It is expected to start producing initial amounts of ores in June 2026, which will be shipped to Ying's process plant for recovery of metals.
Capitalized expendituresPlant and
equipmentTotal Capital
expendituresExpensed
Ramp, Development
Tunneling, and otherExploration TunnelingExploration DrillingMining
Preparation
TunnelsDrilling
(Metres)($ Thousand)(Metres)($ Thousand)(Metres)($ Thousand)($ Thousand)($ Thousand)(Metres)(Metres)Q3 Fiscal 2026









Ying Mining District15,533$       8,91819,917$       7,42447,890$       1,323$        3,972$       21,63815,81328,717GC Mine1,4376812,3538567,0161541591,8493,1125,585El Domo—17,961—————17,959——Condor—495—————495——Kuanping & other3,2971,701693194——4842,381——Consolidated20,26729,75722,9648,47454,9061,4774,61444,32218,92634,302










Q3 Fiscal 2025









Ying Mining District9,742$       6,57018,947$       6,95415,979$          536$        7,007$       21,06715,75539,568GC Mine5403402,6449928,1291732891,7943,3952,554El Domo—1,803—————1,803——Condor—273—————273——Kuanping & other—120————198318——Consolidated10,2829,10621,5917,94624,1087097,49425,25519,15042,122CONFERENCE CALL DETAILS A conference call to discuss these results will be held on Tuesday, February 10, at 9:00 am PDT (12:00 pm EDT). To participate in the conference call, please dial the numbers below.Canada/USA TF: 888-510-2154
China Toll: 861087833254
International/Local Toll: 437-900-0527
Conference ID: 74042Participants should dial-in 10 – 15 minutes prior to the start time. A replay of the conference call and transcript will be available on the Company's website at www.silvercorpmetals.com.Mr. Guoliang Ma, P.Geo., Manager of Exploration and Resources of the Company, is the Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and given consent to the technical information contained in this news release.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: investor@silvercorp.ca
Website: www.silvercorpmetals.comALTERNATIVE PERFORMANCE (NON-GAAP) MEASURESThis news release should be read in conjunction with the Company's Management Discussion & Analysis ("MD&A"), the unaudited consolidated condensed interim financial statements and related notes contains therein for the three and nine months ended December 31, 2025, which have been posted on SEDAR+ under the Company's profile at www.sedarplus.ca and on EDGAR at www.sec.gov, and are also available on the Company's website at www.silvercorpmetals.com under the Investor section. This news release refers to various alternative performance (non-IFRS) measures, such as adjusted earnings and adjusted earnings per share, EBITDA and EBITDA per share, adjusted EBITDA and adjusted EBITDA per share, free cash flow, cash cost and all-in sustaining cost per ounce of silver, net of by-product credits, cash cost and AISC per tonne of ore processed, silver equivalent, and working capital. The tonnage of ore production refers to wet tonne, containing approximately 2% to 3% moisture. These measures are widely used in the mining industry as a benchmark for performance, but do not have standardized meanings under IFRS as an indicator of performance and may differ from methods used by other companies with similar description. The detailed description and reconciliation of these alternative performance (non-GAAP) measures have been incorporated by reference and can be found under section 12 – Alternative Performance (Non-GAAP) Measures in the MD&A for the three and nine months ended December 31, 2025 filled on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov and which is incorporated by reference here in.CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; 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; the amount of ore to be processed during the Chinese New Year holiday; estimated El Domo and Kuanping mine construction progress, and timing of development ore from the Kuanping project to be available for processing. 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; 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 Corp. and Tincorp Metals Inc.; and the other risk factors described in the Company's Annual Information Form and filed with the U.S. Securities and Exchange Commission as part of the Company's 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. 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 added 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 under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.silvercorp.ca.Cautionary Note to United States Investors Concerning Estimates of Reserves and ResourcesReserve and resource estimates included in this news release have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects. Unless otherwise indicated, all mineral reserve and mineral resource estimates contained in the technical disclosure have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards on Mineral Resources and Reserves. Canadian standards, including NI 43-101, differ significantly from the requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies.





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Original: SILVERCORP REPORTS ADJUSTED NET INCOME OF $47.9 MILLION, $0.22 PER SHARE, AND CASH FLOW FROM OPERATING ACTIVITIES OF $132.9 MILLION FOR Q3 FISCAL 2026

Silvercorp Announces Project Update for El DomoFebruary 4, 2026 5:05 PM
PR Newswire (Canada)

Trading Symbol:           TSX/NYSE American: SVMVANCOUVER, BC, Feb. 4, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX/NYSE American: SVM) (the "Company") announces an update for its budget and construction schedule for the construction of the El Domo Project (the "Project"). The construction budget for the Project has been updated to $284 million, an increase of $44 million compared to the $240 million estimate dated March 31, 2025 (for reference, the 2021 Feasibility Study Budget was $248 million). The main items of increase or decrease are as follows:The VAT: rate has been revised from 10% ($19 million) to 15% ($35 million), resulting in a $16 million increase, which represents 36% of total budget growth. The Company expects to recover this VAT as a tax credit in the first year of operations once concentrate exports commence.Package #1 Construction: $5.1 million increase due to detailed design changes, construction of two rock buttress for waste dumps (SWD and WRF1) were added.The equipment and material purchases of the process plant have increased by $15 million due to: Some equipment was previously missing in both the April 2025 and 2021 Feasibility Studies, e.g. water recycling system from Tailing Storage Facility ("TSF"), SAG mill, regrind mill, bigger flotation cells and thickeners required to accommodate an increase in sulfur content from 9% (2021 Feasibility Study design) to 25% (current design) (~ $11 million).Logistics costs increased by $4 million (considering 15% of all equipment for sea freight, customs fees, storage, local transport, insurance, plus ~ 3.5% import tax), which was previously underestimated.The estimated construction and installation of the process plant have increased by $7.2 million based on the actual construction quotes for the 5000-square-metre ROM ore shack currently under construction.Bypass roads and access roads: $3.3 million increase mainly due to the upgrade of the new southern access road, so that 40-foot container trucks can pass.External powerline: added $2.3 million for payment on behalf of the Ecuador National Power Company (CNEL)for third-party supervision and land easements.Missing items such as Engineer of Record ("EoR"), and construction quality assurance and control ("QA/QC") supervision for TSF construction, site internal power distribution facilities, environment rehabilitation and protection, 4G network added another $10.1 million. Added $6.6 million in local purchases to support local supply chains and economy.Owner's Cost has increased from $30 million to $32.5 million, based on the monthly burn rate and additional expenses (e.g. insurance, services, community and institutional relationship, and security) plus a six-month extension for the construction period-~$2.5 million increase.Package #2 Mining and Stripping: estimated cost has decreased by $4.2 million based on the winning bidder's unit prices.Achieved savings of $4.7 million across various other projects.Contingency has been reduced from 20% ($32 million) to 8% ($17 million), a reduction of $15 million, reflecting more accurate estimates for the current budget. The contingency may account for the diesel price increase during construction (~10% to ~15% increase in unit costs for civil works), and inherent uncertainties as engineering design work continues.Capital Cost Estimate Details:
The table below summarizes the schedule and costs to construct the Project:

2025 April
Budget New Budget


Spent in 20252026 July 1st, 2027Total Budget

($ Million)($ Million)($ Million)($ Million)($ Million)1Package #1 - Site preparation /Road s/Channels / TSF/SWD47.522.432.52.557.42Package #2 - Open Pit Mining and Stripping39.00.023.411.335.03Package #3 - Processing Plant Construction and Equipment33.03.541.59.854.84Temporary and Permanent Camps7.01.94.70.47.0
Packages #4,5 -Site Infrastructure (bypass roads, powerline, standby diesel generators, water treatment plant)33.03.736.15.645.4
Direct costs sub-total159.431.5138.229.6199.36Owner's Contingency 31.90.014.22.817.07Owner's Cost30.09.812.59.832.18Value added tax (VAT)19.13.127.15.035.2
Total 240.544.5191.947.2283.6Based on this new budget, the El Domo Project is scheduled to be in production by July 1st, 2027, representing a six-month delay from the previous estimate of early-2027.Progress Achieved in 2025:2025 has been a productive year, as we focused on construction Package #1: including Site preparation, Roads, Non-contactWater Channels, TSF, Saprolite Waste Dump ("SWD"), and proceeded with other packages. During the year, we established a new project construction team, while overcoming an exceptionally heavy and long rainy season that lasted well into June, working with different communities and government agencies to ensure a sound working environment. Through the hard work of our local team, CRCC 14 and other contractors, along with the support of communities and government authorities, the Company made significant progress at the Project.Spent $44.5 million in 2025, representing approximately 16% of the total new budget.Successfully cleared 1,040 of the total 1,109 archaeological units, completing archaeological clearance in full compliance with permit conditions to start earth-moving activities.Over 2.6 million cubic metres of material were moved (including topsoil, saprolite and andesite material) for site preparation of Process plant, roads, TSF, SWD, and other site preparation.Built 8.1 km of internal haul roads, providing comprehensive access across the site, and upgraded and repaired 23.1 km of external roads, allowing 40-feet haul truck access. Additionally, 2.1 km of non-contact water channels were excavated as part of a robust water management system.Completed and commissioned the Construction Camp with a capacity of over 600 beds.Blasted at an on-site quarry and from Process plant Site Preparation to generate fresh non-acid generating rock for roads and the construction of the starter dam of the TSF, plus laid the foundation for a 5000 square metre ROM Ore Shed, which will serve as a warehouse initially during the construction period.Yantai Jinpeng Mining Machinery Co.,Ltd has finalized the detailed process flowsheet, equipment selection and cost estimates for the processing plant construction and equipment. The improved process flowsheet introduced a standalone sequential flotation of copper-gold into copper concentrates first; all other parts of the flowsheet follow the previous design. The new metallurgical recovery test results for the sequential flotation of copper-gold into copper concentrates first show a 5.4% increase in copper recovery and a 6.2% increase in gold recovery, enhancing the Project's projected economics.Ordered most of the long-lead time major equipment for the process plant and Diesel Power Generator Sets providing backup power for the entire site; paid a down payment of $7.2 million towards a total contract price of $16.9 million.Continuously engaged with different communities and stakeholders for support.Built an effective, integrated construction team, collaborating among team members at the El Domo construction site, Quito, Vancouver and Beijing.Strong and improving safety culture and management at site, with more than 960,000 hours worked with no major incidents.Implemented and complied with the Environmental Management Plan during construction activities.Bidding for the Package #2 - Open Pit Mining and StrippingAfter a competitive bidding process and several months of negotiation, the Company is expected to execute the mining contract for the construction and operation of the Project with China Railway 19th Bureau Group Co., Ltd. ("CRCC 19") on a "Unit Cost" basis, that is, the cost of drilling, blasting, hauling and dumping or compacting each cubic metre of rock over a certain distance. The fixed unit rate contract is structured into two primary phases: 1) the Construction Phase, valued at $35 million for mining and stripping, includes pre-stripping activities such as earthworks, rock stripping, and by-product ore mining; and 2) the Operations Phase, valued at approximately $63 million over the subsequent five years, covers annual mining and stripping of ore and waste rock. In addition, the contract includes the construction and management of the multi-stage raising of the Tailings Storage Facility (TSF) dam ($8 million). CRCC19 has a regional headquarter in Quito with over ten years operating experience in Ecuador building a large open pit copper-gold mine and ongoing mining and stripping. In advance of executing the contract CRCC 19 began mobilizing personnel to the El Domo site in January 2026 and equipment mobilization will begin this month.Package #3 - Processing plant construction and equipment  Yantai Jinpeng Mining Machinery Co.,Ltd is expected to complete the detailed engineering design of the processing plant based on the new flowsheet by early April 2026. This will serve as the cost base to initiate the bidding process for construction. With most equipment already ordered, the primary budget variables for Package #3 would be the construction cost and materialsPackages #4 - External Powerline and standby diesel generatorsThe total distance of the external powerline is 61.3 km. The northern section (27.5 km) and three substations, with a $10.15 million budget, have been awarded to two Ecuadorian contractors last September, but only recently received the approval by CNEL required before construction can be started. The southern part (33.8 km) is pending the completion of detailed engineering design. The powerline is expected to be completed in 2027. As a backup plan, the company has ordered 14MW of diesel generator sets which will be delivered to site by December 2026 for installation. This mitigation plan will ensure power is available for commissioning of the process plant in July 2027, regardless of the External Powerline status.Qualified PersonGuoliang Ma, P. Geo., Manager of Exploration and Resource of the Company, is the Qualified Person for Silvercorp for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (''NI 43-101'') and has reviewed and approved the technical information contained in this news release.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 informationSilvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis 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 recovery of the VAT as a tax credit, the construction schedule, duration, and costs for the development of the Project, date which the Project is scheduled to be in production; timing of execution of mining contract and mobilization of personnel and equipment to the Project, timing of completion of detailed engineering design,  delivery of diesel generators, and completion of powerline. 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; activities of anti-mining groups; 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 Ecuador and 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; 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 Corp. 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 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 their public reports and filings which are available under its profile at www.sedarplus.ca.





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Original: Silvercorp Announces Project Update for El Domo

Silvercorp Announces Filing of PEA for Condor Gold Project in EcuadorFebruary 2, 2026 7:01 PM
PR Newswire (US)

Trading Symbol:      TSX/NYSE American: SVMVANCOUVER, BC, Feb. 2, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) (the "Company") announces the filing of its Preliminary Economic Assessment for the Condor gold project (the "Project") in Ecuador titled: "Independent Technical Report for the Condor Gold Project, Zamora Chinchipe Province, Ecuador" (the "Technical Report"). The Technical Report is effective November 30, 2025 and was prepared by SRK Consulting (Canada) Inc.The Technical Report was prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and can be found on the Company's website at www.silvercorpmetals.com and under the Company's profile at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.Qualified Persons The qualified persons for the Technical Report are Mr. Mark Wanless, FGSSA, Pr.Sci.Nat, Principal Geologist with SRK Consulting (Canada) Inc., Mr. Benny Zhang, M.Eng., P.Eng., Principal Mining Engineer with SRK Consulting (Canada) Inc., Mr. Sean Kautzman, P.Eng, Principal Mining Engineer with SRK Consulting (Canada) Inc., Dr. Jianhui Huang, Ph.D., P.Eng , Principal Process Engineer with Tetra Tech Canada Inc., Dr. Jinxing Ji, P.Eng., Metallurgist with JJ Metallurgical Services, Mr. Chris Johns, P.Eng, Principal Geotechnical Engineer with Tetra Tech Canada Inc. and Mr. Mark Liskowich, PGeo, associate Principal Environmental Consultant SRK Consulting (Canada) Inc. The specific sections for which each qualified person is responsible will be outlined in the Technical Report. All such qualified persons have reviewed the technical content relevant to the sections of the Technical Report for which they are responsible included in this news release for the deposit at the Project and have approved its dissemination.This news release has been reviewed and approved by Guoliang Ma, P. Geo., Manager of Exploration and Resource of the Company who is the designated qualified person for the Company.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: investor@silvercorp.ca
Website: www.silvercorpmetals.com





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Original: Silvercorp Announces Filing of PEA for Condor Gold Project in Ecuador

Silvercorp Completes Acquisition of the Tulkubash/Kyzyltash Gold Projects, KyrgyzstanJanuary 27, 2026 10:05 PM
PR Newswire (Canada)

Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, Jan. 27, 2026 /CNW/ - Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) ("Silvercorp" or the "Company"), further to its news release of January 20, 2026, Silvercorp is pleased to announce it has completed the acquisition of Chaarat ZAAV CJSC ("ZAAV") per the Share Purchase Agreement with Chaarat Gold Holdings Limited ("Chaarat").  The Kyrgyz government having issued a waiver of its statutory pre-emptive right and Silvercorp having made the $92 million payment to Chaarat.Per the agreements between the parties, Silvercorp will proceed to convert ZAAV into a joint venture company ("JVC") with Kyrgyzaltyn (a wholly-owned subsidiary of the Kyrgyz Republic), with Silvercorp holding a 70% interest and being the operator of the JVC and Kyrgyzaltyn holding a 30% free-carried interest.The JVC will apply for the agreed upon extension of the validity period of the JVC's mining license from June 25, 2032 to June 25, 2062 and Silvercorp will then make the $60 million cash payment to the National Investment Agency under the President of the Kyrgyz Republic (the "NIA"), per the Cooperation Agreement with the NIA.ZAAV, the JVC, is a Kyrgyz corporation, holding a 100% interest in the mining license hosting the fully-permitted Tulkubash/Kyzyltash gold projects as well as surrounding exploration licenses hosting the Karator and Ishakuld gold zones located in the Tian Shan area.King & Wood Mallesons (Beijing office) acted as lead legal counsel to Silvercorp on the transaction. For further details regarding the transaction refer to the January 20 news release which is available on SEDAR+ (www.sedarplus.ca) and on EDGAR at www.sec.gov under Silvercorp's issuer's profile.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 informationSilvercorp Metals Inc.                                                             
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.comCAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTSThis news release does not constitute, and is not, an offer or solicitation of an offer of securities.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, without limitation, the conversion of the ZAAV into a JVC, timing of receipt of the mining license extension, the Company's plan for next steps, and any anticipated benefits to shareholder value or financial or operational performance that may be derived therefrom. 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; completion and timing of the transactions described above; satisfaction of the conditions to the transactions; extension of mining licenses and milestones; 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; 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 Corp. and Tincorp Metals Inc.;  and the other risk factors described in the Company's latest 40-F/Annual Information Form, and Management's Discussion and Analysis, each under the heading "Risk Factors" available 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 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.CAUTIONARY NOTE TO US INVESTORS
This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements of United States securities laws. The technical and scientific information contained herein has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (''NI 43-101''), which differs from the standards adopted by the U.S. Securities and Exchange Commission (the "SEC"). Silvercorp's reserve and resource estimates have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards on Mineral Resources and Mineral Reserves. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for public disclosure by a Canadian company of scientific and technical information concerning mineral projects.Canadian standards differ significantly from the disclosure requirements of the Securities and Exchange Commission, and mineral reserve and resource information included in this news release may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC. A comprehensive discussion of risks that impact Silvercorp, and additional information relating to the Company including Silvercorp's Annual Information Form can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's website at www.silvercorpmetals.com





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Original: Silvercorp Completes Acquisition of the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan

Silvercorp Acquires 70% Interest in the Tulkubash/Kyzyltash Gold Projects, Kyrgyzstan

January 20 2026 - 7:30AM

PR Newswire (Canada)

VANCOUVER, BC, Jan. 20, 2026 /CNW/ - Silvercorp Metals Inc. (TSX: SVM) ("Silvercorp" or the "Company") is pleased to report that it has signed a Share Purchase Agreement with Chaarat Gold Holdings Limited ("Chaarat") and a Cooperation Agreement with the National Investment Agency under the President of the Kyrgyz Republic (the "NIA"). Pursuant to these agreements, the Company will acquire a 70% interest in Chaarat ZAAV CJSC ("ZAAV"), which holds a 100% interest in the mining license (~7 square kilometres) hosting the fully-permitted Tulkubash/Kyzyltash gold projects as well as surrounding exploration licenses (27.42 square kilometres) hosting the Karator and Ishakuld gold zones (the "Projects") located in the Tian Shan area of the Kyrgyz Republic for cash consideration of US$162 million (the "Transaction").


Additionally, the Company, through its wholly-owned subsidiaries, entered into a Share Purchase and Shareholders Agreement ("Shareholders Agreement") with Kyrgyzaltyn (a wholly-owned subsidiary of the Kyrgyz Republic). This agreement states that upon completion of the acquisition of ZAAV, it will be converted into a joint venture company ("JVC") between Silvercorp and Kyrgyzaltyn. Silvercorp will hold a 70% interest and be the operator of the JVC and Kyrgyzaltyn will hold a 30% free-carried interest.

As part of the Cooperation Agreement, NIA will receive $70 million cash in two staged payments: 1) payment of $60 million upon the Kyrgyz Government issuing a waiver of its statutory pre-emptive right on the Projects and an extension of the validity period of the JVC's mining license from June 25, 2032 to June 25, 2062, and 2) $10 million cash payment after certain other milestones are achieved. Per the Share Purchase Agreement, Chaarat will receive a $92 million cash payment from Silvercorp conditional upon receipt of the Kyrgyz Government waiver. Now that the Kyrgyz Government has issued a Waiver for its pre-emptive right, Silvercorp will proceed to make the payment to Chaarat for closing.

The JVC envisages a two-phase development plan for the Tulkubash/Kyzyltash gold projects per the Cooperation Agreement and the Shareholders Agreement:

Phase 1 Development of Tulkubash1 (2026-2028): Silvercorp will commit to invest US$150 million for construction of a 4 million tonnes of ore per year open-pit mine/heap leach operation for the oxidized gold ore from the Tulkubash field using the Bankable Feasibility Studies completed by Tetra Tech (Joint Ore Reserves Committee ("JORC") Code standard) in 2018, expertized and localized for Kyrgyzstan by Ken Too (Bishkek) in 2020, and further improved (JORC Code standard) in 2021 by a South African firm, LogiProc with support from Ausenco's Canadian branch; once in production in 2027-2028, the Tulkubash field is expected to produce approximately 110,000 oz of gold annually for 3-4 years. Additionally, if the Karator exploration license is converted into a mining license in 2026, the open pit/heap leach operation could be extended for at least 2 years.

Phase 2 Development of Kyzyltash1 (2028-2031): approximately US$400 million in investment to develop the Kyzyltash sulfide deposit into a 3 to 4 million tonnes per year open pit/underground mine, plus flotation, bacterial oxidization ("BIOX") and carbon in leach ("CIL"), based on a 2016 pre-feasibility study (Non NI-43-101 standard) by China's NERIN design institute. Once in production, the Kyzyltash sulfide deposit could produce approximately 190,000 to 230,000 oz of gold annually for over 18 years, starting from 2031.

Dr. Rui Feng, Silvercorp Chair and CEO said: "We are pleased to develop these Projects, the largest undeveloped gold deposits in the West Tien Shan gold belt. All interests are aligned for us to bring the Projects into production. With our 20 years of mining expertise and financial strength, we are confident Silvercorp and Chaarat's well-established local team can work with our Kyrgyz partner to advance ahead on the Projects and unlock value for all stakeholders and shareholders."

The addition of the Tulkubash/Kyzyltash gold projects to our growing portfolio aligns with our strategic objectives of diversifying and growing our asset base by adding a third jurisdiction, and will position us to benefit from gold's strong fundamentals.

Silvercorp will use its cash and short-term investments currently on hand to make the payment for the acquisition and the remaining cash on hand after the acquisition, as well as cash flow from our current operations and financing capacity, will be sufficient to advance the Tulkubash/Kyzyltash projects through the Phase 1 Development.

The Tulkubash/Kyzyltash Gold Projects

The Tulkubash/Kyzyltash Gold Projects are located approximately 490 km by road southwest of Bishkek. The first 360 km from Bishkek to the mine site is on paved roads, followed by ~130 km of graded gravel road to the site.

Antimony-gold mineralization was identified by Soviet era geologists in the early 1970s. The exploration license was acquired by Apex Asia, which then formed a Joint venture with Newmont in 1997. Newmont completed an IP survey and drilled 7 holes and made a discovery. Newmont left Kyrgyzstan in 2000. The Project License was acquired by Chaarat in 2002.

Since 2002, Chaarat has spent $174 million on the Projects: $77 million on drilling, $40 million on operating expenses, $36 million on studies by independent consultants, and $22 million on construction of a road, camp, and other facilities. Chaarat was a London AIM-listed public exploration and development company until the fall of 2024.

A total of 188,000 metres ("m") of drilling has been performed on the Tulkubash/Kyzyltash Gold Projects, including 80,500 m on the Kyzyltash sulfide zone up to 2013, and 107,500 m on Tulkubash up to 2023. Since 2014, all the exploration drilling work and most engineering study work by outside consultants has been focused on defining mineral reserves/resources and creating a development plan for the oxidized gold ore from Tulkubash.

At Karator, 14 drill holes drilled in 2021 and 2023 discovered extensive oxidized gold material near surface and in 2025, approximately 9,000 m of in-fill and step out diamond drilling was completed, which could form a resource base to convert the exploration license to a mining license. Assay results for 2025 drill holes are pending.

https://investorshub.advfn.com/stock-market/AMEX/silvercorp-metals-SVM/stock-news/97648589/silvercorp-acquires-70-interest-in-the-tulkubash

Silvercorp Delivers Robust PEA for Condor Gold Project in Ecuador

December 22 2025 - 5:05PM

PR Newswire (US)

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

Trading Symbol: TSX/NYSE American: SVM

Vancouver, BC, Dec. 22, 2025 /PRNewswire/ - Silvercorp Metals Inc. (TSX: SVM) ("Silvercorp" or the "Company") is pleased to report the results of its Preliminary Economic Assessment ("PEA") for the Condor gold project (the "Project") in Ecuador. The PEA is based on the Mineral Resource Estimate (the "MRE") which was prepared for the Project in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

Highlights from the PEA are as follows (all figures in US Dollars):

After-tax net present value ("NPV") (5%) of $522 million and an after-tax internal rate of return ("IRR") of 29% at base case metal prices of $2,600/ounce ("oz") gold, $31.00/oz silver, $1.27/pound ("lb") zinc, and $0.91/lb lead;

After-tax net present value ("NPV") (5%) of $1,559 million and an after-tax internal rate of return ("IRR") of 61% at near spot metal prices of $4,300/oz gold, $60.00/oz silver, $1.27/lb zinc, and $0.91/lb lead;

13-year life of mine ("LOM"), producing approximately 1,375 thousand ounces ("koz") of payable gold, 5,266 koz of payable silver, 95,656 thousand pounds ("klbs") of payable zinc and 8,448 klbs of payable lead;

Initial capital costs of $292 million and a post-tax payback of 3 years starting from commercial production;

Average LOM all-in sustaining cost ("AISC") of $1,258/oz net of by-product credits.

The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. As such there is no certainty that the PEA will be realized.

https://investorshub.advfn.com/stock-market/AMEX/silvercorp-metals-SVM/stock-news/97497058/silvercorp-delivers-robust-pea-for-condor-gold-pro

Rock to Revenue Ep. 5 | What Happens After the Rock Leaves the Mine

Silver production at $11.75 AISC! - Silvercorp Metals Inc. (NYSE: SVM)

Silvercorp Announces CFO Transition
November 12 2025 - 8:00AM
PR Newswire (US)




VANCOUVER, BC, Nov. 12, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) announces changes to its senior accounting and finance team.

Effective November 10, Derek Liu, who has served as Chief Financial Officer since 2015, retired from his role as CFO. He will continue to provide assistance to the Company as needed during a transition period in a consulting capacity. The Company thanks Mr. Liu for his long-standing dedication and significant contributions to Silvercorp, and wishes him all the best in his retirement.

Silvercorp is pleased to announce the appointment of Winnie Wang as Interim Chief Financial Officer, effective immediately. Ms. Wang has been with the Company since 2024, most recently serving as CFO of the Company's China Operations. She brings over 15 years of leadership in the areas of corporate finance, accounting and financial reporting, treasury planning, and internal controls. Winnie started her career as Auditor with PricewaterhouseCoopers LLP and held senior leadership positions in finance and accounting with several multinational companies. Prior to joining Silvercorp, she was Head of Finance and CFO for Asurion China. Winnie has a Bachelor's Degree from Shanghai International Studies University, a Master of Management from the University of International Business and Economics, and holds the Chartered Professional Accountant (CPA) designation from CPA Australia.

In addition, the Company announces the appointment of Lei Wu as Corporate Controller, with responsibilities to include financial reporting, financial planning, finance operations, project management, and treasury functions. Mr. Wu brings over 14 years of progressive accounting and finance experience in the mining industry and recently joined Silvercorp from New Gold Inc. where he served as Finance Controller at the Rainy River Mine from 2021 to 2025. Lei has a Bachelor of Business Administration (Honours) from Simon Fraser University and an MBA from the University of Southern California. He holds the Chartered Professional Accountant (CPA), Chartered Financial Analyst (CFA), and Project Management Professional (PMP) designations.

These appointments reflect Silvercorp's commitment to strong financial governance and internal talent development as it continues to execute on its strategic objectives.

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.

SILVERCORP REPORTS ADJUSTED NET INCOME OF $22.6 MILLION, $0.10 PER SHARE, AND CASH FLOW FROM OPERATING ACTIVITIES OF $39.2 MILLION FOR Q2 FISCAL 2026
November 06 2025 - 6:34PM
PR Newswire (US)

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

VANCOUVER, BC, Nov. 6, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ended September 30, 2025 ("Q2 Fiscal 2026"). All amounts are expressed in US dollars, and figures may not add due to rounding.

HIGHLIGHTS FOR Q2 FISCAL 2026

Produced approximately 1.66 million ounces of silver, 2,085 ounces of gold, or approximately 1.84 million ounces of silver equivalent1, 14.23 million pounds of lead and 5.64 million pounds of zinc;

Sold approximately 1.66 million ounces of silver, 2,033 ounces of gold, 14.75 million pounds of lead, and 5.67 million pounds of zinc, for revenue of $83.3 million, an increase of 23% over the three months ended September 30, 2024 ("Q2 Fiscal 2025");

All-in sustaining cost ("AISC") per ounce of silver, net of by-product credits, of $13.94;

Net loss attributable to equity shareholders of $11.5 million, or $0.05 per share, mainly due to a $53.2 million non-cash charge on "mark to market" of the fair value of convertible notes;

Adjusted net income attributable to equity shareholders of $22.6 million, or $0.10 per share, after excluding the $53.2 million non-cash charge, a $21.6 million gain on investments, and other non-cash or one-time items;

Adjusted earnings before interest, income tax, depreciation and amortization ("EBITDA") attributable to equity shareholders of $38.3 million, or $0.18 per share;

Generated cash flow from operating activities of $39.2 million, and free cash flow of $11.4 million;

Spent and capitalized $15.8 million on exploration, development, and equipment and facilities at the China operations;

Spent and capitalized $10.9 million at the Ecuador operations for the development and construction of the El Domo mine and permitting activities for the Condor project;

Ended the period with cash and cash equivalents and short-term investments of $382.3 million, an increase of $5.1 million from the previous quarter, and a portfolio of equity investments with a total market value of $180.2 million, an increase of $108.0 million from the previous quarter; and

Subsequent to quarter end, drew down the first $43.875 million from Wheaton Precious Metals International Ltd. under the $175.5 million stream financing agreement for the El Domo mine construction.

https://www.prnewswire.com/news-releases/silvercorp-reports-adjusted-net-income-of-22-6-million-0-10-per-share-and-cash-flow-from-operating-activities-of-39-2-million-for-q2-fiscal-2026--302607943.html

Silvercorp Reports Operational Results and Financial Results Release Date for the Second Quarter, Fiscal 2026
October 15 2025 - 5:05PM
PR Newswire (US)

Trading Symbol: TSX/NYSE American: SVM

VANCOUVER, BC, Oct. 15, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (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.

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

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 zinc 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.

https://www.prnewswire.com/news-releases/silvercorp-reports-operational-results-and-financial-results-release-date-for-the-second-quarter-fiscal-2026-302585288.html

$6.80 was in, got out, and I'm starting back in again! Good luck to all!

Silvercorp Reports 2025 AGM Results
September 26 2025 - 5:18PM
PR Newswire (US)


VANCOUVER, BC, Sept. 26, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM) (NYSE American: SVM) is pleased to report that all matters submitted to shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated August 11, 2025, were approved by the requisite majority of votes cast at Silvercorp's annual general meeting ("AGM") held today. A total of 108,216,233 common shares, representing 49.50% of the votes attached to all outstanding shares as at the record date for the meeting, were represented at the AGM. The voting results for the election of directors are set out below:


Votes For / Withheld

Director / Number / Percentage / Number / Percentage

Dr. Rui Feng / 72,449,788 / 86.85 % /10,967,601 / 13.15 %

Paul Simpson / 69,257,640 / 83.03 % / 14,159,749 / 16.97 %

Yikang Liu / 72,679,602 / 87.13 % / 10,737,787 / 12.87 %

Marina Katusa / 72,317,897 / 86.69 % / 11,099,492 / 13.31 %

Ken Robertson / 82,186,838 / 98.52 % / 1,230,551 / 1.48 %

Helen Cai / 82,666,643 / 99.10 % / 750,746 / 0.90 %

Shareholders also re-approved the share-based compensation plan and the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year. Final results for all matters voted on at the AGM will be filed on SEDAR+ at www.sedarplus.ca, on EDGAR at ww.sec.gov and on the Company's website at www.silvercorpmetals.com.

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
PresidentPhone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com

Silvercorp Metals (NYSE:SVM) - $377M Cash & El Domo Build Drive Growth in Silver-Dominant Producer

Silvercorp Metals | Mining Forum Americas 2025 Replay: Growth Strategy & Project Updates

Silvercorp Renews Share Repurchase Program
September 17 2025 - 7:30AM
PR Newswire (Canada)

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

Trading Symbol: TSX/NYSE American: SVM

VANCOUVER, BC, Sept. 17, 2025 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce a normal course issuer bid ("NCIB") commencing September 19, 2025, to acquire up to 8,747,245 of its own common shares, representing approximately 4% of the 218,681,127 common shares issued and outstanding as of September 5, 2025. The repurchase program will expire September 18, 2026. The NCIB is being implemented to provide enhanced flexibility should market conditions result in Silvercorp's shares being undervalued relative to the value of its mining and corporate assets.

Purchases will be made at the discretion of the directors at prevailing market prices, through the facilities of the TSX, the NYSE American, and alternative trading systems in Canada and the United States, in compliance with regulatory requirements. There can be no assurance as to the precise number of shares that will be repurchased under the NCIB. Silvercorp may discontinue its purchases at any time, subject to compliance with applicable regulatory requirements. The Company will cancel all shares acquired under the NCIB. The price the Company will pay for the common shares will be the market price at the time of purchase.

The Company is not aware of any officers, directors or persons holding 10% or more of the securities that intend to sell their securities at the inception of the NCIB, but such officers, directors or persons holding 10% or more of the securities may sell their securities during the course of the NCIB, as their personal circumstances may require. If during the course of the NCIB the Company becomes aware that officers, directors or persons holding 10% or more of the securities intend to sell their securities, then the Company will not intentionally acquire such securities.

The maximum number of shares that may be purchased on the TSX during any trading day may not exceed 157,233 common shares of the Company, which is 25% of the average daily trading volume on the TSX based on the previous six completed calendar months of 628,934. This limit, for which there are permitted exceptions, is determined in accordance with TSX regulatory requirements and does not apply to purchases made by the Company on the alternative trading systems in the United States.

The NCIB is a continuation of the program approved in September 2024 (the "2024 NCIB"), for the period from September 19, 2024 to September 18, 2025, to acquire up to 8,670,700 common shares of the Company, representing approximately 4% of the 216,767,513 common shares issued and outstanding as of September 5, 2024. All 300,000 shares acquired on TSX, NYSE American or alternative trading systems in Canada and the United States under the 2024 NCIB at a weighted average price of CAD$4.51 were cancelled.

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: investor@silvercorp.ca
Website: www.silvercorpmetals.com

Core Logging Process | Rock to Revenue Ep. 3 (Silvercorp Metals Inc.)

Silvercorp Metals: Record Quarter & Ecuador Growth Plans | $SVM Stock Interview

Finding Resources Underground | Rock to Revenue Series Ep. 2 (Silvercorp Metals Inc.)

20-Year Silver Producer Silvercorp (TSX:SVM) Expands to Ecuador with $12 Costs vs $35+ Prices

SILVERCORP REPORTS ADJUSTED NET INCOME OF $21.0 MILLION, $0.10 PER SHARE, AND CASH FLOW FROM OPERATING ACTIVITIES OF $48.3 MILLION FOR Q1 FISCAL 2026
August 07 2025 - 5:05PM
PR Newswire (US)

Trading Symbol: TSX/NYSE AMERICAN: SVM

VANCOUVER, BC, Aug. 7, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ended June 30, 2025 ("Q1 Fiscal 2026"). All amounts are expressed in US dollars, and figures may not add due to rounding.

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

HIGHLIGHTS FOR Q1 FISCAL 2026

Produced approximately 1.8 million ounces ("oz") of silver, 2,050 oz of gold, or approximately 2.0 million ounces of silver equivalent1, 15.7 million pounds ("lb") of lead and 5.2 million lb of zinc;

Sold approximately 1.8 million oz of silver, 1,951 oz of gold, 15.2 million lb of lead, and 5.2 million lb of zinc, for revenue of $81.3 million;

All-in sustaining cost ("AISC") per oz of silver, net of by-product credits, of $13.49;

Net income attributable to equity shareholders of $18.1 million, or $0.08 per share;

Adjusted net income attributable to equity shareholders of $21.0 million, or $0.10 per share, after excluding a $4.8 million charge on the fair value of derivative liabilities and warrants and other non-cash or non-routine items;

Earnings before interest, income tax, depreciation and amortization ("EBITDA") attributable to equity shareholders of $33.8 million, or $0.15 per share;

Generated cash flow from operating activities of $48.3 million, and free cash flow of $22.5 million;

Spent and capitalized $18.8 million on exploration, development, and equipment and facilities for the China operations;

Spent and capitalized $5.4 million for the Ecuador operations;

Paid cash dividends of $2.7 million to holders of the Company's common shares; and

Ended the period with cash and cash equivalents and short-term investments of $377.1 million, an increase of $8.1 million from the previous quarter, and a portfolio of equity investments with a total market value of $72.2 million. The Company also has a stream financing commitment of $175 million available from Wheaton Precious Metals International Ltd. for the El Domo project construction.

https://investorshub.advfn.com/stock-market/AMEX/silvercorp-metals-SVM/stock-news/96591141/silvercorp-reports-adjusted-net-income-of-21-0-mi

Silvercorp Announces Ecuador Constitutional Court Decision Upholding Environmental License for El Domo Project

Trading Symbol: TSX/NYSE American: SVM

VANCOUVER, BC, Aug. 5, 2025 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report that the Constitutional Court of Ecuador has delivered a unanimous decision rejecting the final legal challenge in Ecuador against the environmental license for the El Domo mining project, thereby definitively upholding its validity.

The El Domo Project, currently under construction, is the first mining project in Ecuador to have conducted an environmental consultation aligned with standards of the Regional Agreement on Access to Information, Public Participation and Justice in Environmental Matters in Latin America and the Caribbean, a multilateral treaty adopted on March 4, 2018, in Escazú, Costa Rica. This process has now been validated by multiple levels of the Ecuadorian judiciary, including ordinary courts and the Constitutional Court.

The environmental license for the project was supported by 98% of the population within the project's area of influence. The El Domo Project is expected to bring significant long-term socio-economic benefits to the local community of Las Naves.

Summary of Judicial Proceedings

On June 5, 2024, a group of individuals filed a constitutional protection action against the Ministry of Environment, Water, and Ecological Transition ("MAATE"), seeking to challenge the environmental license and consultation process for the El Domo Project. On July 24, 2024, the local court in Las Naves Canton, Bolívar Province, Ecuador dismissed the action, confirming that MAATE had complied with applicable environmental consultation requirements prior to issuing an environmental license for the project.

The plaintiffs appealed to the provincial court, and the appeal was heard on October 17, 2024, and was dismissed by the provincial court on November 12, 2024, affirming the lower court decision that MAATE correctly discharged its environmental consultation obligations prior to issuing an environmental license of the El Domo Project.

Subsequently, on December 19, 2024, the plaintiffs filed an Extraordinary Protection Action (EPA) before the Constitutional Court of Ecuador. On February 26, 2025, the Constitutional Court issued a decision declining to admit the EPA, stating that it failed to meet constitutional criteria for admission. On March 3, 2025, the plaintiffs filed a motion for clarification. On July 24, 2025, the Constitutional Court unanimously rejected the clarification motion.

Despite anti-mining groups having failed at every level of Ecuador's judiciary—including the Constitutional Court—they continue to engage in unlawful and disruptive activities aimed at obstructing the lawful development of the El Domo Project. These actions have created safety concerns and threaten the rule of law but have not materially impacted project advancement to date. Silvercorp remains steadfast in its commitment to advancing the El Domo Project responsibly and in full compliance with Ecuadorian law.

Silvercorp and its partners are committed to responsible mineral development and to supporting local communities. The Company has consistently conducted its operations in compliance with applicable laws and regulations and in alignment with the highest environmental, social, and governance standards. It looks forward to advancing the El Domo Project into production with the same dedication to ethical and sustainable practices.

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: investor@silvercorp.ca

Website: www.silvercorpmetals.com

Join IBN’s Carmel Fisher and Lon Shaver, President of Silvercorp Metals, for a conversation on building a multi-asset portfolio, managing capital efficiency, and delivering value across cycles.

To hear the whole podcast and subscribe for future episodes, visit https://podcast.miningnewswire.com

IBN Announces Latest Episode of The MiningNewsWire Podcast featuring Lon Shaver, President of Silvercorp Metals Inc.
July 31 2025 - 8:00AM


via IBN – IBN, a multifaceted communications organization engaged in connecting public companies to the investment community, is pleased to announce the release of the latest episode of The MiningNewsWire Podcast as part of its sustained effort to provide specialized content distribution via widespread syndication channels.

The MiningNewsWire Podcast features revealing sit-downs with executives who are shaping the future of the global mining industry. The latest episode features Lon Shaver, President of Silvercorp Metals Inc. (NYSE American: SVM) (TSX: SVM), a Canadian mining company producing silver, gold, lead, and zinc, with a long history of profitability and growth.

During the interview, Shaver shared how Silvercorp is evolving beyond its silver-focused roots into a diversified, multi-asset producer.

“We’re a growth company in transition. Our recent acquisition brought us into Ecuador, and we remain very active in pursuing new opportunities to grow the company and expand our asset base… We really like to deliver for our shareholders — to be a multi-asset, multi-jurisdiction company within a couple of years.”

He went on to explain the financial strategy behind Silvercorp’s current expansion efforts.

“The roughly $240 million in capital estimated for El Domo… $175 [million] of that will be funded by Wheaton. There’s a stream arrangement in place… The balance — $75 million — we can easily fund that out of cash on hand. So, that will allow us to continue to look at new targets for growth as well as pay our dividend, which arguably is a bit symbolic at present… but it’s really meant to show that good times and bad in the silver market, we intend to give our shareholders a return on their investment.”

Shaver also emphasized what sets the company apart from peers in the sector.

“In addition to being a good operator and a consistent operator with a long track record… we’ve shown through our M&A efforts really a good nose for surfacing value. We’ve seen a number of targets that we thought were good acquisition targets. We didn’t always get them because we didn’t chase them and overpay, but I think we’ve done a good job at finding good opportunities and trying to bring them into the company for our shareholders.”

Join IBN’s Carmel Fisher and Lon Shaver, President of Silvercorp Metals, for a conversation on building a multi-asset portfolio, managing capital efficiency, and delivering value across cycles.

To hear the whole podcast and subscribe for future episodes, visit https://podcast.miningnewswire.com

The latest installment of The MiningNewsWire Podcast continues to reinforce IBN’s commitment to the expansion of its robust network of brands, client partners, followers and the growing IBN Podcast Series. For more than 19 years, IBN has leveraged this commitment to provide unparalleled distribution and corporate messaging solutions to 500+ public and private companies.

To learn more about IBN’s achievements and milestones via a visual timeline, visit: https://IBN.fm/TimeLine

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, visit the company’s website at www.SilvercorpMetals.com

Silvercorp Deploys 28 Electric Trucks Replacing Diesel Fleet at Ying

Rocks to Revenue | Tunneling Explained – Ep. 1 - Inside Silvercorp's Mine

The mining sector is a good place to be these days and I like the fundamentals of SVM. With it's history of volatility there should be plenty of trading opportunities ahead.

All the best,

Knife

Silvercorp Reports on El Domo Project Development Progress and Awarding the First Construction Contract
January 07 2025 - 8:00AM
PR Newswire (US)

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

Trading Symbols: SVM (TSX/NYSE American)
SRL (TSXV), SRLZF (OTCQB)

VANCOUVER, BC, Jan. 7, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM), its Ecuadorian subsidiary Curimining S.A. ("Curimining"), and Salazar Resources Limited ("Salazar", together with Silvercorp and Curimining, the "Companies"), are pleased to provide a progress report on the El Domo Project (the "Project"). The Companies are still targeting to bring the Project into production in the second half of 2026 and have recently awarded the earthworks contract to a large international mining contractor with over 10 years of experience working in Ecuador (see below).

Progress Report

Since Silvercorp completed its acquisition of Adventus Mining Corporation ("Adventus") by way of a plan of arrangement on July 31, 2024, the Companies have made substantial progress in advancing the Project, highlights include:

a.

Streamlined the Ecuadorian Operations: Optimized the organization chart by moving the management team and personnel to the El Domo and Condor project sites from the Quito office, and by initiating the winding down or transfer of most of the non-core regional projects.


b.

Continued Community Engagement: Maintained open lines of communication with local communities and government representatives, keeping them informed of changes in the Project ownership and leadership, as well as on construction plans.


c.

Advanced Detailed Engineering:


a)

Reviewed the previous technical work, including interviewing all consulting firms to confirm all previous studies and detailed engineering designs for optimization;


b)

Optimized design with Klohn Crippen Berger (KCB) for the Tailing Storage Facilities (TSF), starter dam and impound area, Saprolite Waste Dump (SWD), and non-contact water channels;


c)

Selected a new site for the process plant so that its preparation will provide the required non-acid generating rocks for the construction of the starter dam of the TSF, while minimizing trucking distances;


d)

Optimized open pit mine design for mining, stripping, and scheduling, and coordinated the mining schedule with ongoing tailings dam raises using stripped waste rock;


e)

Commenced metallurgical test work on selective flotation – potentially leading to higher recoveries and improved payabilities (see Silvercorp's August 21, 2024 press release); and


f)

Started Detailed Engineering Design (EP) for the process plant, including engaging a consulting engineer, equipment selection, purchasing and detailed engineering drawings.


d.

Advanced Project Infrastructure:


a)

Optimized designs for a new public bypass road and internal operational haul roads;


b)

Executed a powerline contract with the Ecuadorian state-owned power company (CNEL EP). The construction contractor will be selected once the updated engineering design is completed; and


c)

Commenced permitting for standby diesel power generation for the dry season, as climate change has impacted the power supply situation in Ecuador.


e.

Produced Project Materials Balance: including total cubic metres of cutting, filling, cement, and amount of high-density polyethylene material, and bill of quantities for the major construction projects of the mine and process plant, which are divided into three bidding packages:



a)

Bid Package 1: Construction of temporary camp, TSF to starter dam phase, SWD, non-contact water channels, internal haul roads, and preparation of the process plant site and permanent camp site;


b)

Bid Package 2: Mining, stripping and ongoing tailings dam raises using stripped waste rocks; and


c)

Bid Package 3: Construction of the process plant, tailings discharge and back water systems, water treatment plants, permanent camp, and other site infrastructure.


f.

Adopted "Unit Cost" Criteria (as compared to "Open Book") for potential contractors to bid on the three construction packages outlined above. For example, "Unit Cost" for blasting or cutting one cubic metre of rock or saprolite, then loaded and trucked to, within two kilometres, shall include all personnel and management cost, plus any profit contractor intends to have for the work. Monthly total payments will be based on measured cubic metres of cutting.

Award of Commercial Contract for Bid Package 1

The Companies invited three mining contractors with operations at Ecuadorian mining or construction sites, and the forth contractor which Curimining had engaged previously, and the Companies received a total of four bids based on the "Unit Cost" criteria.

After interviews, visiting their current operating sites in Ecuador, and considering the total bid price, the Companies have awarded Bid Package 1 to CRCC 14 Bureau Group CO., Ltd., a company with a regional headquarters in Quito and over ten years operating experience in Ecuador building infrastructure in open pit mines and in the heavy civil construction sectors.

The Companies plan to award Bid Packages 2 and 3 in Q1 2025 to ensure the project stays on schedule to start production in the second half of 2026.

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 cashflow from long-life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) a long-term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorpmetals.com.

About the El Domo Project

El-Domo is a high-grade copper-gold project located in Central Ecuador, approximately 150 km northeast of the major port city of Guayaquil – about a 3-hour drive. The project concessions span low-lying hills and plains between 300 to 900 masl. El Domo is a flat-lying tabular shaped VMS deposit, with mineralization beginning at 30 metres from surface and dimensions of approximately 800 x 400 metres. Three well-maintained gravel roads provide direct site access to El Domo.

For further information:

Silvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com

Highlights from 2024 | Silvercorp Metals

6.50 before end of January :)