SILVERCORP REPORTS ADJUSTED EARNINGS OF $52.4 MILLION, $0.30 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $107.4 MILLION FOR FISCAL 2022

Trading Symbol: TSX: SVM
NYSE AMERICAN: SVM

Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the fourth quarter and twelve months ended March 31, 2022 ("Fiscal 2022"). All amounts are expressed in US Dollars, and figures may not add due to rounding.

FISCAL YEAR 2022 HIGHLIGHTS

Mined 996,280 tonnes of ore and milled 1,002,335 tonnes of ore, up 3% and 4% compared to the prior year.
Sold approximately 6.3 million ounces of silver, 3,400 ounces of gold, 63.6 million pounds of lead, and 26.8 million pounds of zinc, representing decreases of 1%, 28%, 5% and 4% in silver, gold, lead and zinc sold, compared to the prior year. Gold sales in the prior year included one-time sales of 1,200 ounces from the remaining concentrate inventory produced at the BYP mine before it was placed on care and maintenance in 2014.
Revenue of $217.9 million , up 13% compared to $192.1 million in the prior year.
Net income attributable to equity holders of $30.6 million , or $0.17 per share, compared to $46.4 million , or $0.27 per share in the prior year.
Adjusted earnings attributable to equity holders of $52.4 million , or $0.30 per share, compared to $49.8 million , or $0.28 per share in the prior year. The adjustments were made to remove impacts from non-recurring items, share-based compensation, foreign exchange gain/loss, impairment adjustments and reversals, gain/loss on equity investments and the share of associates' operating results.
Cash flow from operations of $107.4 million , up 25% or $21.5 million compared to $85.9 million in the prior year.
Cash cost per ounce of silver, net of by-product credits, of negative $1.29 compared to negative $1.80 in the prior year.
All-in sustaining cost per ounce of silver, net of by-product credits, of $8.77 , compared to $7.49 in the prior year.
Paid $4.4 million of dividends to the Company's shareholders.
Acquired the Kuanping silver-lead-zinc-gold project in China for $13.1 million .
Strong balance sheet with $212.9 million in cash and cash equivalents and short-term investments, up $13.8 million or 7% compared to $199.1 million as at March 31, 2021 . This does not include the investments in associates and equity investment in other companies, having a total market value of $164.3 million as at March 31, 2022 ( $212.1 million as at March 31, 2021 ).

HIGHLIGHTS FOR Q4 FISCAL 2022

Mined 180,505 tonnes of ore and milled 182,670 tonnes of ore, up 11% and 1%, respectively, compared to the prior year quarter.
Sold approximately 1.2 million ounces of silver, 500 ounces of gold, 12.3 million pounds of lead, and 4.3 million pounds of zinc, up 11% and 13%, respectively, in silver and lead sold compared to the prior year quarter, and down 29% and 5%, respectively, in gold and zinc sold compared to the prior year quarter.
Revenue of $41.6 million , up 16% or $5.9 million compared to $35.7 million in the prior year quarter.
Net income attributable to equity holders of $4.0 million , or $0.02 per share, compared to $7.0 million , or $0.04 per share, in the prior year quarter.
Adjusted earnings attributable to equity holders of $9.5 million , or $0.05 per share, compared to $11.0 million , or $0.06 per share, in the prior year quarter.
Cash flow from operations of $11.4 million , up 411% or $9.2 million compared to $2.2 million in the prior year quarter.
Cash cost per ounces of silver, net of by-product credits, of negative $0.54 compared to negative $0.39 in the prior year quarter.
All-in sustaining cost per ounce of silver, net of by-product credits, of $12.60 , compared to $12.55 in the prior year quarter.

CONSOLIDATED FINANCIAL RESULTS


	Three months ended March 31,			Year ended March 31,
	2022	2021	Changes	2022	2021	Changes
Financial
Revenue (in thousands of $)	$ 41,590	$ 35,732	16%	$ 217,923	$ 192,105	13%
Mine operating earnings (in thousands of $)	13,709	13,404	2%	84,301	84,162	0%
Net income attributable to equity holders	3,966	7,021	-44%	30,634	46,376	-34%
Earnings per share - basic ($/share)	0.02	0.04	-50%	0.17	0.27	-37%
Adjusted earnings attributable to equity holders	9,496	10,960	-13%	52,427	49,798	5%
Adjusted earning per share - basic ($/share)	0.05	0.06	-17%	0.30	0.28	7%
Net cash generated from operating activities (in thousands of $)	11,406	2,231	411%	107,378	85,912	25%
Capitalized expenditures (in thousands of $)	9,831	6,996	41%	53,991	45,556	19%
Cash and cash equivalents and short-term investments (in thousands of $)	212,925	199,092	7%	212,925	199,092	7%
Working capital (in thousands of $)	186,270	184,014	1%	186,270	184,014	1%
Metals sold
Silver (in thousands of ounces)	1,173	1,056	11%	6,265	6,315	-1%
Gold (in thousands of ounces)	0.5	0.7	-29%	3.4	4.7	-28%
Lead (in thousands of pounds)	12,279	10,876	13%	63,563	67,118	-5%
Zinc (in thousands of pounds)	4,340	4,580	-5%	26,809	27,914	-4%
Average Selling Price, Net of Value Added Tax and Smelter Charges
Silver ($/ounce)	19.38	20.11	-4%	19.36	17.61	10%
Gold ($/ounce)	1,475	1,437	3%	1,495	1,430	5%
Lead ($/pound)	0.93	0.81	15%	0.90	0.75	20%
Zinc ($/pound)	1.22	0.98	24%	1.08	0.78	38%

1. Fiscal 2022 Financial Results

Net income attributable to equity holders of the Company in Fiscal 2022 was $30.6 million or $0 .17 per share, compared to $46.4 million or $0 .27 per share in the year ended March 31, 2021 ("Fiscal 2021").

In Fiscal 2022, the Company's consolidated financial results were mainly impacted by i) an increase of 10%, 5%, 20% and 38%, respectively, in the realized selling prices for silver, gold, lead and zinc; offset by ii) a 1%, 28%, 5% and 4% decrease in silver, gold, lead and zinc sold; iii) a 17% increase in cash production costs per tonne, and iv) an impairment charge of $10.6 million against bond investments and a $3.5 million loss on equity investments in Fiscal 2022 while an impairment charge of $1.4 million against bond investments and a gain of $7.7 million on equity investments was recorded in Fiscal 2021.

Revenue in Fiscal 2022 was $217.9 million , up 13% or $25.8 million compared to $192.1 million in Fiscal 2021. The increase was mainly due to an increase of $29.9 million arising from the increase in the net realized silver, gold, lead and zinc selling prices; offset by a decrease of $7.8 million arising from the decrease in the quantities of silver, gold, lead and zinc sold. Revenues from silver, gold, and base metals were $121.3 million , $5.1 million , and $91.6 million , respectively, compared to $111.2 million , $6.7 million , and $74.2 million in Fiscal 2021. Revenue from the Ying Mining District was $176.8 million , up 12% compared to $157.3 million in Fiscal 2021. Revenue from the GC Mine was $41.2 million , up 24% compared to $33.3 million in Fiscal 2021. Gold sales in Fiscal 2021 included $1.5 million from sales of remaining gold concentrate inventory at the BYP mine before it was placed on care and maintenance in 2014.

Income from mine operations in Fiscal 2022 was $84.3 million , compared to $84.2 million in Fiscal 2021. Income from mine operations at the Ying Mining District was $70.0 million , down 6% compared to $74.2 million in Fiscal 2021. Income from mine operations at the GC Mine was $14.8 million , up 52% compared to $9.8 million in Fiscal 2021.

Cash flow provided by operating activities in Fiscal 2022 was $107.4 million , up 25% or $21.5 million , compared to $85.9 million in Fiscal 2021.

The Company ended the fiscal year with $212.9 million in cash, cash equivalents and short-term investments, up 7% or $13.8 million , compared to $199.1 million as at March 31, 2021 .

Working capital as at March 31, 2022 was $186.3 million , up 1% or $2.3 million , compared to $184.0 million as at March 31, 2021 .

2. Q4 Fiscal 2022 Financial Results

Net income attributable to equity holders of the Company in Q4 Fiscal 2022 was $4.0 million or $0.2 per share, compared to $7.0 million or $0.04 per share in the three months ended March 31, 2021 ("Q4 Fiscal 2021").

Compared to the prior year quarter, the Company's consolidated financial results in Q4 Fiscal 2022 were mainly impacted by i) an increase of 3%, 15%, and 24%, respectively, in the realized selling prices for gold, lead and zinc; ii) an 11% and 13% increase in silver and lead sold; offset by iii) a 4% decrease in the realized selling price for silver; iv) a 29% and 5% decrease in gold and zinc sold; v) an 8% increase in cash production costs per tonne; and vi) a foreign exchange loss of $3.2 million .

Revenue in Q4 Fiscal 2022 was $41.6 million , up 16% or $5.7 million , compared to $35.9 million in the same prior year period. The increase was mainly due to i) an increase of $3.5 million arising from more silver and lead sold; and ii) an increase of $2.4 million arising from the increase in the net realized selling price for lead and zinc. Silver, gold and base metals sales represented $22.7 million , $0.9 million , and $18.0 million , respectively, compared to silver, gold and base metals sales of $21.2 million , $1.0 million and $13.6 million , respectively, in the same prior year period.

Income from mine operations in Q4 Fiscal 2022 was $13.7 million , up 2% compared to $13.4 million in Q4 Fiscal 2021. Income from mine operations at the Ying Mining District was $11.9 million , compared to $11.9 million in Q4 Fiscal 2021, while GC Mine was $2.0 million , up 16% compared to $1.7 million in Q4 Fiscal 2021.

Cash flows provided by operating activities in Q4 Fiscal 2022 were $11.4 million , compared to $2.2 million in Q4 Fiscal 2021. Before changes in non-cash operating working capital, cash flow provided by operating activities In Q4 Fiscal 2022 was $14.0 million , compared to $11.9 million in Q4 Fiscal 2021.

CONSOLIDATED OPERATIONAL RESULTS


	Three months ended March 31,			Year ended March 31,
	2022	2021	Changes	2022	2021	Changes
Ore Production (tonne)
Ore mined	180,505	163,072	11%	996,280	964,925	3%
Ore milled	182,670	180,674	1%	1,002,335	967,581	4%
Metal Production
Silver (in thousands of ounces)	1,146	1,195	-4%	6,149	6,331	-3%
Gold (in thousands of ounces)	0.5	0.3	67%	3.4	3.5	-3%
Lead (in thousands of pounds)	11,962	12,156	-2%	64,431	68,430	-6%
Zinc (in thousands of pounds)	4,101	4,672	-12%	26,812	28,011	-4%
Cash Costs
Cash cost per ounce of silver, net of by-product credits ($)	(0.54)	(0.39)	-38%	(1.29)	(1.80)	28%
All-in sustaining cost per ounce of silver, net of by-product credits ($)	12.60	12.55	0%	8.77	7.49	17%
Cash production cost per tonne of ore processed ($)	92.78	85.70	8%	84.85	72.71	17%
All-in sustaining cost per tonne of ore processed ($)	171.56	156.36	10%	141.54	128.20	10%

1. Fiscal 2022 Operational Results

In Fiscal 2022, on a consolidated basis, the Company mined 996,280 tonnes of ore, up 3% or 31,355 tonnes, compared to 964,925 tonnes in Fiscal 2021. Ore milled in Fiscal 2022 was 1,002,335 tonnes, up 4% or 34,754 tonnes, compared to 967,581 tonnes in Fiscal 2021.

In Fiscal 2022, the Company sold approximately 6.3 million ounces of silver, 3,400 ounces of gold, 63.6 million pounds of lead, and 26.8 million pounds of zinc, representing decreases of 1%, 28%, 5% and 4% respectively, in silver, gold, lead and zinc sold. Gold sold in Fiscal 2021 included one-time sales of 1,200 ounces from pre 2014 concentrate inventories at the BYP Mine.

Compared to Fiscal 2021, the Company's production costs in Fiscal 2022 were mainly impacted by i) an overall 14.5% increase in mining contractors' fee rate at the Ying Mining District; ii) an annual average 5% appreciation of the Chinese yuan against the US dollar, resulting in higher costs presented in US dollars; iii) an average 7% increase in employees' pay rates; iv) an annual average 12% increase in electricity prices; and iv) the contribution rate paid for employees' social welfare funds in China returning to the normal rate from a reduced rate granted by the Chinese government in Fiscal 2021 due to Covid-19.

In Fiscal 2022, the consolidated cash production cost per tonne of ore processed was $84.85 , up 17% compared to $72.71 in Fiscal 2021. The consolidated cash mining cost was $68.90 per tonne, up 16% compared to $59.44 in Fiscal 2021. The consolidated cash milling cost was $13.43 per tonne, up 25% compared to $10.73 in Fiscal 2021.

In Fiscal 2022, the consolidated all-in sustaining production cost per tonne of ore processed was $141.54 , up 10% compared to $128.20 in Fiscal 2021, but within the Company's annual guidance.

In Fiscal 2022, the consolidated cash cost per ounce of silver, net of by-product credits, was negative $1.29 , compared to negative $1.80 in Fiscal 2021. The increase was mainly due to the increase in per tonne cash production costs, offset by an increase of $2.61 in by-product credits per ounce of silver. The consolidated all-in sustaining cost per ounce of silver, net of by-product credits, was $8.77 , compared to $7.49 in Fiscal 2021.

In Fiscal 2022, on a consolidated basis, a total of 426,128 metres or $20.7 million worth of diamond drilling were completed (Fiscal 2021 – 254,900 metres or $8.7 million ), of which approximately 276,450 metres or $7.2 million worth of underground drilling were expensed as part of mining costs (Fiscal 2021 – 196,320 metres or $5.0 million ) and approximately 149,678 metres or $13.5 million worth of drilling were capitalized (Fiscal 2021 – 58,580 metres or $3.7 million ). In addition, approximately 31,301 metres or $11.6 million worth of preparation tunnelling were completed and expensed as part of mining costs (Fiscal 2021 – 34,637 metres or $8.9 million ), and approximately 74,062 metres or $31.0 million worth of tunnels, raises, ramps and declines were completed and capitalized (Fiscal 2021 – 85,221metres or $31.5 million ).

2. Q4 Fiscal 2022 Operational Results

In Q4 Fiscal 2022, the Company mined 180,505 tonnes of ore, up 11% or 17,433 tonnes, compared to 163,072 tonnes in Q4 Fiscal 2021. Ore milled in Q4 Fiscal 2022 was 182,670 tonnes, up 1% or 1,996 tonnes, compared to 180,674 tonnes in Q4 Fiscal 2021.

In Q4 Fiscal 2022, the Company sold approximately 1.2 million ounces of silver, 500 ounces of gold, 12.3 million pounds of lead, and 4.3 million pounds of zinc, representing increases of 11% and 13%, respectively, in silver and lead sold, and decreases of 29% and 5%, respectively, in gold and zinc sold, compared to approximately 1.1 million ounces of silver, 700 ounces of gold, 10.9 million pounds of lead, and 4.6 million pounds of zinc sold in Q4 Fiscal 2021.

In Q4 Fiscal 2022, the consolidated cash mining cost was $73.52 per tonne, compared to $70.56 in Q4 Fiscal 2021. The consolidated cash milling cost was $16.45 per tonne, compared to $12.66 per tonne in Q4 Fiscal 2021. The increase was mainly due to the same factors for the annual results.

Correspondingly, the consolidated cash production cost per tonne of ore processed for Q4 Fiscal 2022 was $92.78 , up 8% compared to $85.70 in Q4 Fiscal 2021. The all-in sustaining production cost per tonne of ore processed was $171.56 , up 10% compared to $156.36 in Q4 Fiscal 2021.

In Q4 Fiscal 2022, the consolidated cash cost per ounce of silver, net of by-product credits, was negative $0.54 , compared to negative $0.39 in Q4 Fiscal 2021. The consolidated all-in sustaining cost per ounce of silver, net of by-product credits was $12.60 compared to $12.55 in Q4 Fiscal 2021.

In Q4 Fiscal 2022, on a consolidated basis, approximately 66,139 metres or $2.4 million worth of diamond drilling (Q4 Fiscal 2021– 49,459 metres or $1.6 million ) were completed, of which approximately 50,384 metres or $1.2 million worth of underground drilling were expensed as part of mining costs (Q4 Fiscal 2021– 41,752 metres or $0.8 million ) and approximately 15,755 metres or $1.3 million worth of drilling were capitalized (Q4 Fiscal 2021– 7,887 metres or $0.8 million ). In addition, approximately 5,688 metres or $2.1 million worth of preparation tunnelling were completed and expensed as part of mining costs (Q4 Fiscal 2021– 7,015 metres or $1.5 million ), and approximately 13,340 metres or $5.9 million worth of tunnels, raises, ramps and declines were completed and capitalized (Q4 Fiscal 2021– 10,803 metres or $4.7 million ).

INDIVIDAL MINE OPERATING PERFORMANCE


Ying Mining District	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Year ended March 31,
	March 31, 2022	December 31, 2021	September 30, 2021	June 30, 2021	March 31, 2021	2022	2021
Ore Production (tonne)
Ore mined	130,612	200,946	206,933	142,907	112,561	681,398	650,025
Ore milled	131,731	214,982	182,173	155,407	131,725	684,293	651,402
Head grades
Silver (gram/tonne)	271	258	283	279	280	272	290
Lead (%)	3.9	3.7	4.0	4.2	3.9	3.9	4.3
Zinc (%)	0.8	0.8	0.7	0.8	0.8	0.8	0.8
Recovery rates
Silver (%)	95.2	95.1	95.4	94.7	93.7	95.1	94.2
Lead (%)	96.1	95.2	95.5	95.7	95.1	95.6	96.0
Zinc (%)	57.4	64.0	56.0	59.7	65.0	59.7	62.4
Cash Costs
Cash cost per ounce of Silver, net of by-product credits ($)	1.21	1.19	0.71	0.80	1.20	0.96	(0.39)
All-in sustaining cost per ounce of silver, net of by-product credits ($)	10.76	8.36	6.88	6.54	10.00	7.93	6.09
Cash production cost per tonne of ore processed ($)	102.49	99.24	96.59	92.79	98.13	97.76	83.01
All-in sustaining cost per tonne of ore processed ($)	172.63	143.72	141.26	138.55	155.14	147.52	132.54
Metal Production
Silver (in thousands of ounces)	1,062	1,647	1,517	1,283	1,083	5,509	5,615
Gold (in thousands of ounces)	0.5	1.1	0.8	1.0	0.3	3.4	3.5
Lead (in thousands of pounds)	10,542	16,392	14,671	13,278	10,504	54,883	57,886
Zinc (in thousands of pounds)	1,317	2,347	1,584	1,519	1,496	6,767	6,916

In Fiscal 2022, a total of 351,458 metres or $15.6 million worth of diamond drilling were completed (Fiscal 2021 – 208,904 metres or $6.9 million ), of which approximately 216,068 metres or $5.0 million worth of underground drilling were expensed as part of mining costs (Fiscal 2021 – 150,324 metres or $3.2 million ) and approximately 135,390 metres or $10.6 million worth of drilling were capitalized (Fiscal 2021 – 58,580 metres or $3.7 million ). In addition, approximately 25,134 metres or $9.9 million worth of preparation tunnelling were completed and expensed as part of mining costs (Fiscal 2021 – 22,918 metres or $6.7 million ), and approximately 60,311 metres or $26.7 million worth of horizontal tunnels, raises, ramps, and declines were completed and capitalized (Fiscal 2021 – 73,350 metres or $27.4 million ).


GC Mine	Q4 2022	Q3 2022	Q2 2022	Q1 2021	Q4 2021	Year ended March 31,
	March 31, 2021	December 31, 2021	September 30, 2021	June 30, 2021	March 31, 2021	2022	2021
Ore Production (tonne)
Ore mined	49,893	91,126	85,535	88,328	50,511	314,882	314,900
Ore milled	50,939	89,790	89,643	87,670	48,949	318,042	316,179
Head grades
Silver (gram/tonne)	62	78	73	80	87	75	85
Lead (%)	1.4	1.5	1.7	1.5	1.7	1.5	1.7
Zinc (%)	2.8	3.2	3.3	3.3	3.3	3.2	3.4
Recovery rates
Silver (%)	82.4	83.5	84.4	84.1	81.9	83.8	82.5
Lead (%)	88.7	89.0	89.5	89.3	89.7	89.2	89.6
Zinc (%)	89.8	89.8	89.6	89.3	88.2	89.6	88.2
Cash Costs
Cash cost per ounce of Silver, net of by-product credits ($)	(16.59)	(25.84)	(22.51)	(17.96)	(12.80)	(20.91)	(11.48)
All-in sustaining cost per ounce of silver, net of by-product credits ($)	(0.39)	(9.81)	(11.61)	(7.98)	0.52	(8.07)	-
Cash production cost per tonne of ore processed ($)	67.33	56.10	55.81	52.90	58.56	56.90	51.44
All-in sustaining cost per tonne of ore processed ($)	100.13	81.50	73.76	71.67	87.69	79.56	74.09
Metal Production
Silver (in thousands of ounces)	84	187	179	190	112	640	716
Lead (in thousands of pounds)	1,420	2,586	2,942	2,600	1,652	9,548	10,544
Zinc (in thousands of pounds)	2,784	5,683	5,899	5,679	3,176	20,045	21,095

In Fiscal 2022, a total of 66,699 metres or $2.5 million worth of diamond drilling were completed (Fiscal 2021 – 45,996 metres or $1.8 million ), of which approximately 60,382 metres or $2.2 million worth of underground drilling were expensed as part of mining costs (Fiscal 2021 – 45,996 metres or $1.8 million ) and approximately 6,317 metres or $0.3 million worth of drilling were capitalized (Fiscal 2021 – nil). In addition, approximately 6,167 metres or $1.7 million worth of preparation tunnelling were completed and expensed as part of mining costs (Fiscal 2021 – 11,719 metres or $2.2 million ), and approximately 13,751 metres or $4.3 million worth of horizontal tunnels, raises, ramps, and declines were completed and capitalized (Fiscal 2021 – 11,871 metres or $3.9 million ).

CONFERENCE CALL DETAILS

A conference call to discuss these results will be held tomorrow, Friday, May 27 , at 9:00 am PDT ( 12:00 pm EDT ). To participate in the conference call, please dial the numbers below.

Canada / USA TF: 888-664-6383

International Toll: 416-764-8650

Conference ID: 70727987

Participants 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.silvercorp.ca .

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 cashflow from long life mines; 2) organic growth through extensive drilling for discovery; 3) equity investments in potential world class opportunities; 4) ongoing merger and acquisition efforts to unlock value; and 5) long term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorp.ca .

For further information

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

ALTERNATIVE PERFORMANCE (NON-IFRS) MEAUSRES

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis ("MD&A"), Financial Statements and Notes to Financial Statements for year ended March 31, 2022 , which have been posted on SEDAR under the Company's profile at www.sedar.com and are also available on the Company's website at www.silvercorp.ca under the Investor section. This earnings release refers to various alternative performance (non-IFRS) measures, such as adjusted earnings and adjusted earnings per share, cash cost and all-in sustaining cost per ounce of silver, net of by-product credits, cash production cost and all-in sustaining production cost per tonne of ore processed and working capital. 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-IFRS) measures have been incorporated by reference and can be found on page 28, section 12 – Alternative Performance (Non-IFRS) Measures in the MD&A for the year ended March 31, 2022 .

CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS

Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District and the GC Mine; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: global economic and social impact of COVID-19; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada ; environmental risks; foreign exchange rate 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" and in the Company's Annual Report on Form 40-F, and in the Company's other filings with Canadian and U.S. securities regulators. 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.

View original content to download multimedia: https://www.prnewswire.com/news-releases/silvercorp-reports-adjusted-earnings-of-52-4-million-0-30-per-share-and-cash-flow-from-operations-of-107-4-million-for-fiscal-2022--301556290.html

SOURCE Silvercorp Metals Inc

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2022/26/c2939.html

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silver investing svm:ca svm silvercorp metals Silver Investing

SVM:CA,SVM

New Pacific Metals: A New Frontier of Silver Exploration

New Pacific Metals (TSX:NUAG,OTCQX:NUMPF) has launched its campaign on the Investing News Network’s resource channel.

New Pacific Metals is an exploration and development company targeting projects in Bolivia. The company’s largest shareholders are Silvercorp Metals Inc. (TSX:SVM), the largest primary silver producer in China, and Pan American Silver Corp. (TSX:PAAS), one of the world’s largest primary silver producers. Both Silvercorp and Pan American Silver hold additional Bolivian assets.

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Silvercorp Reports High-Grade Mineralization Discovery Below Current Production Levels Within Major Vein Structures at GC Ag-Pb-Zn Mine in Guangdong Province, China

Silvercorp Metals Inc. (TSX:SVM, NYSEAMERICAN:SVM) is pleased to report results of its 2016 and 2017 exploration program at its GC Ag-Pb-Zn mine, Guangdong Province, China.

In 2016 and 2017, the Company launched extensive exploration program and completed a total of 33,029 meters (“m”) of underground diamond drilling and 19,619 m of exploration tunneling at its GC Ag-Pb-Zn mine. Significant high-grade mineralized zones have been exposed at and below the current production levels, and major mineralized zones have been extended along strike and downdip.

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Silvercorp to Announce Third Quarter Results on February 8, 2018

Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM, NYSE American: SVM) announces that its unaudited financial and operating results for the third quarter ended December 31, 2017 will be released on Thursday, February 8, 2018 after the market close.

About Silvercorp Metals Inc.
Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China. The Company’s vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically. For more information, please visit our website at www.silvercorpmetals.com
SOURCE Silvercorp Metals Inc
Click here to connect with Silvercorp Metals Inc. (TSX:SVM, NYSEAMERICAN:SVM) for an Investor Presentation.

Source: www.prnewswire.com

Silvercorp Provides Share Repurchase Program Update

Silvercorp Metals Inc. (TSX:SVM, NYSEAMERICAN:SVM) (“Silvercorp” or the “Company”) announces that to date it has acquired through the facilities of the TSX, pursuant to its normal course issuer bid announced November 23, 2017, 788,000 of its common shares at an average price paid per common share of CDN $2.89. All common shares repurchased will be cancelled.

About Silvercorp Metals Inc.
Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China. The Company’s vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically. For more information, please visit our website at www.silvercorpmetals.com.
SOURCE Silvercorp Metals Inc
For further information: Investor Contact: Lorne Waldman, Senior Vice President, Silvercorp Metals Inc., Phone: (604) 669-9397, Toll Free 1(888) 224-1881, Email: investor@silvercorp.ca, Website: www.silvercorp.ca.
Click here to connect with Silvercorp Metals Inc. (TSX:SVM, NYSEAMERICAN:SVM) for an Investor Presentation.

Source: www.newswire.ca

Boab Metals Limited (ASX: BML) – Trading Halt

Boab Metals Limited (ASX:BML) (the “Company”) hereby requests a trading halt of its securities be granted by the ASX effective immediately, pending a release of an announcement regarding an Offtake and Project Finance Agreement. The trading halt will last until the earlier of commencement of trading on Wednesday, 11 December 2024 or the release to the market of an announcement as specified above. The Company is not aware of any reason why the trading halt should not be granted or of any other information necessary to inform the market about the trading halt. This request was authorised for release by the Board of the Company.

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What Makes VMS Deposits Attractive Targets?

As investors well know, there is no such thing as a sure bet with the stock market. Against a backdrop of fluctuating metals prices, volcanogenic massive sulfide (VMS) deposits may look more attractive than ever.

That’s thanks to their polymetallic content. Often containing copper, zinc, lead, silver and gold, VMS deposits can offer resource investors some cushion regarding the rise and fall of individual metals. If it’s a rough year for copper prices, for example, profits off zinc or gold might still help a VMS deposit company’s stock soar.

Furthermore, VMS deposits are an opportunity to buy into both the precious and base metals markets — two very different landscapes. The latter tends to be driven by commodities markets, while precious metals like gold and silver are often seen as safe-haven investments. The principle of diversification, then, seems built into a VMS deposit itself.

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Pan American Silver Completes the Sale of La Arena

Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ( "Pan American" ) yesterday completed the previously announced divestment of its 100% interest in La Arena S.A. ("La Arena"), which owns the La Arena gold mine as well as the La Arena II project in Peru, to Jinteng (Singapore) Mining Pte. Ltd., a subsidiary of Zijin Mining Group Co., Ltd. (collectively, "Zijin").

Under the terms of the agreement, Zijin paid US$245 million in cash consideration and granted Pan American a life-of-mine gold net smelter return royalty of 1.5% for the La Arena II project. Upon commencement of commercial production from the La Arena II project, the agreement provides for an additional contingent payment from Zijin of US$50 million in cash.

News Provided by Business Wire via QuoteMedia

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Rows of silver bars with two bars lying on top.

ASX Silver Stocks: 5 Biggest Companies in 2024

The precious metal silver is often compared to gold due to its importance in jewellery and as a safe haven investment.

However, silver has many industrial applications too, including in electronics, automobiles, medicine and photography, and, of course, silverware.

Energy transition applications are a growing demand sector for silver — the metal is valued for its conductive capacity, which makes it particularly useful in the production of photovoltaic panels.

Silver supply has tightened in recent years as industrial demand rises. This was one of several factors that helped the silver price break through the US$30 per ounce mark in May for the first time since 2013. At that time, it also broke AU$48, setting a new all time high in Australian dollars.

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Year	Meters Drilled	Holes Completed	Samples Collected	Holes Intercepted Mineralization	Holes Intercepted Ore
2016	11,878	129	2,235	29	77
2017	21,151	165	4,595	7	76
Total	33,029	294	6,830	36	153

Year	Tunneling (m)	Samples Collected	Key Drifts Included (m)	Ore Exposed in Drifts (m)	Key Raise Included (m)	Ore Exposed in Raises (m)
2016	9,152	4,063	2,482	1,980	1,683	1,266
2017	10,467	5,608	5,285	2,823	2,668	1,736
Total	19,619	9,671	7,767	4,803	4,351	3,002

Year	Hole ID	From (m)	To (m)	True Width (m)	Vein	Elevation (m)	Ag (g/t)	Pb (%)	Zn (%)	AgEq (1,2) (g/t)
2016	CK10381	29.97	32.74	2.54	V12	52.1	97	0.11	9.65	590
2016	CK10582	85.74	89.84	2.84	V36	-73.7	78	2.66	3.21	383
2016	CK11201	17.44	19.65	2.02	V28-4	-152.0	233	4.68	2.30	601
2016	CK11301	11.68	27.51	8.64	V1	-151.9	48	2.03	6.08	464
2016	CK3086	0	8.2	6.39	V7E	-101.2	90	0.62	1.69	209
2016	CK3087	0	6.27	3.58	V7E	-100.4	134	1.48	4.01	416
2016	CK4083	82.22	87.6	4.48	V7N	-145.4	45	1.24	3.53	290
2016	CK4083	103.44	109.69	5.20	V7E	-157.4	49	0.91	2.07	203
2016	CK4084	50.88	60.04	7.35	V7E	-115.4	43	0.89	3.87	286
2016	CK4280	17.25	21.71	3.48	V10	-99.9	45	1.69	5.65	421
2017	18CK26A04	126.59	132.08	3.77	V2-4	-316.7	72	0.91	3.72	309
2017	18CK26A05	277.32	281.96	3.31	V2-2	-463.7	171.2	1.99	5.12	537
2017	18CK28A05	295.05	297.97	1.97	V6-1	-453.0	310	2.13	14.69	1,167
2017	CK10586	114.16	116.39	1.61	V9W-2	89.2	491	0.69	5.63	813
2017	CK10588	33.11	37.23	2.83	V19	78.9	87	3.12	2.62	387
2017	CK10691	99.57	102.38	2.14	V33	43.1	191	3.68	3.09	545
2017	CK1080	83.13	84.28	1.11	V40	-2.6	758	1.97	2.98	1,015
2017	CK10982	117.35	128.37	6.51	V7E	-193.2	55	2.02	3.55	343
2017	CK10986	97.06	100.35	3.23	V14	14.3	94	0.46	5.95	419
2017	CK2282	56.56	60.64	3.90	V9-9	-94.0	57	1.21	6.52	451
2017	CK2688	115.76	123.59	7.57	V2E1	-245.6	64	0.75	4.00	306
2017	CK26A84	135.49	138.33	2.56	V2E1	-294.6	92	1.58	5.74	467
2017	CK26A88	106.15	108.95	2.79	V2-1	-239.4	109	4.59	5.29	624
2017	CK26A88	128.67	134.78	5.53	V2E1	-248.1	58	0.82	5.65	388
2017	CK28A84	116.96	120.93	3.47	V2-4	-272.6	299	3.00	10.54	993
2017	CK28A84	143.19	152.1	7.79	V2E	-289.4	143	3.58	4.08	542
2017	CK28A86	96.95	97.89	0.77	V18	142.0	932	5.83	5.05	1,501
2017	CK30A83	184.5	191.15	5.01	V2E	-297.6	101	0.90	2.89	295

Drift ID	Vein	Elevation (m)	Length (m)	True Width(m)	Ag (g/t)	Pb (%)	Zn (%)	AgEq (g/t)
V2W-(-150)-22YM	V2W	-150	128	1.89	132	2.77	3.48	457
V2W-(-150)-22AYM+CM	V2W	-150	54	8.00	132	3.12	4.63	534
V2E-(-150)-26EYM	V2E	-150	300	1.70	134	2.85	3.89	484
V2E-(-200)-28EYM	V2E	-200	117	2.69	99	1.25	4.19	379
-150-V2E1-26YM	V2E1	-150	86	5.99	96	0.66	1.78	221
V2E1-（-200）-26AYM	V2E1	-200	71	2.70	163	2.18	2.79	421
V7E(V36)-(-100)-40YM	V7E	-100	110	1.75	106	2.14	4.04	426
V9-5-(-150)-30WYM	V9-5	-150	150	1.45	96	3.41	3.57	461
-100-V10-40AYM	V10	-100	210	1.29	41	1.29	3.34	280
V10-1-0-42SYM	V10-1	0	145	1.57	101	0.86	4.16	357
V14-50-(105-111)YM	V14	50	163	0.83	129	1.93	6.15	544
-100-V16-22AYM	V16	-100	208	1.73	44	0.48	2.75	209
V24-0-14SWYM	V24	0	90	1.10	312	2.63	5.81	747

Vein	Level (m)	Length (m)	True Width (m)	Ag (g/t)	Pb (%)	Zn (%)	AgEq (g/t)
V2E	100	30	1.52	212	1.42	0.59	318
	50	164	1.24	71	1.73	2.83	307
	0	229	1.02	74	1.32	2.40	266
	-50	225	1.2	94	1.47	2.62	306
	-100	450	1.48	105	1.33	2.80	318
	-150	418	1.28	122	1.94	3.35	396
	-200	400	1.92	126	2.10	3.82	432
V2W	100	77	3.57	100	0.15	2.20	219
	50	174	2.15	118	0.83	3.91	360
	0	106	3.03	139	1.71	3.38	402
	-50	242	3.4	141	1.62	3.48	404
	-100	128	2.19	120	1.39	2.51	322
	-150	183	6.32	277	5.00	6.53	876

Hole No.	Sector	Reef	Incl.	From (m)	To (m)	Int. (m)	Est. True Width (m)	Au g/t
JBS00093	João Belo Sul	LMPC		381.45	385.00	3.55	3.26	8.21
JBS00094	João Belo Sul	MPC		378.17	380.50	2.33	2.07	5.55
		SPC		404.20	410.64	6.44	5.70	4.63
JBS00095	João Belo Sul	LVLPC		342.23	347.50	5.27	4.72	3.10
JBEX00126	João Belo Norte	LVLPC		400.04	405.06	5.02	3.34	6.88
		LVLPC	incl.	401.00	403.72	2.72	1.81	12.12
MRCEX00025	Maricota	HW		140.66	141.50	0.84	0.70	19.22
MRCEX00026	Maricota	FW		561.50	571.50	10.00	4.18	2.41
		EMB		677.52	680.00	2.48	1.44	7.74
MRCEX00031	Maricota	BAS		647.00	664.78	17.78	10.07	2.08
		BAS	incl.	651.50	657.05	5.55	3.14	2.58
MRCEX00032	Maricota	MR		379.92	387.50	7.58	5.98	5.12
		MR	incl.	379.92	383.50	3.58	2.83	9.78
		FW		403.05	412.50	9.45	7.46	2.05
		FW	incl.	404.50	408.50	4.00	3.16	3.50
MRCEX00034	Maricota	HW		488.00	498.69	10.69	5.16	3.92
		HW	incl.	488.00	493.50	5.50	2.70	6.80
MRCEX00037	Maricota	FW		541.38	550.50	9.12	6.56	2.75
MRCEX00038	Maricota	MR		236.00	239.70	3.70	2.46	5.66
MRCEX00041	Maricota	HW		173.15	177.50	4.35	3.27	6.87
MRCEX00044	Maricota	HW		152.00	154.76	2.76	2.19	13.00
MRCEX00049	Maricota	FW		173.50	175.00	1.50	1.07	10.54
MRCEX00052	Maricota	FW		299.50	307.00	7.50	4.31	4.49
		FW		314.50	319.00	4.50	2.54	11.56
		FW		327.88	351.55	23.67	12.75	3.71
		FW	incl.	328.50	344.00	15.50	8.35	5.26
MRCEX00053	Maricota	LU		137.00	141.00	4.00	3.27	3.11
MRCEX00056	Maricota	HW		94.00	95.50	1.50	1.42	116.41
		HW		106.15	111.00	4.85	4.59	5.45
		HW	incl.	107.00	109.00	2.00	1.89	10.08
		FW		129.00	138.20	9.20	8.74	5.86
		FW	incl.	130.00	133.50	3.50	3.33	13.35
MRCEX00059	Maricota	HW		115.50	118.50	3.00	2.96	10.23
MRCEX00061	Maricota	HW		134.39	136.50	2.11	1.95	9.16
MRCEX00062	Maricota	MR		177.50	179.50	2.00	1.59	7.43
		FW		202.01	205.00	2.99	2.38	4.81
MVTEX00205	Morro do Vento	FW		213.00	228.68	15.68	14.11	1.17
		FW		243.50	246.00	2.50	2.20	4.86
MVTEX00207	Morro do Vento	OFF_ R		192.00	196.35	4.35	3.62	3.02
MVTEX00216	Morro do Vento	FW		439.50	449.50	10.00	6.74	2.65
		FW	incl.	443.50	449.00	5.50	3.70	3.13
MVTEX00217	Morro do Vento	FW		327.50	339.50	12.00	6.90	3.13
		FW	incl.	329.21	332.24	3.03	1.74	9.06
MVTEX00219	Morro do Vento	MU		256.00	259.50	3.50	2.27	3.32
MVTEX00220	Morro do Vento	FW		494.50	513.00	18.50	7.03	2.62
		FW	incl.	499.76	506.50	6.74	2.56	5.08
MVTEX00222	Morro do Vento	FW		172.00	178.50	6.50	3.93	2.76
MVTEX00223	Morro do Vento	FW		543.29	555.50	12.21	5.75	5.24
		FW	incl.	551.00	555.50	4.50	2.11	11.68
MVTEX00228	Morro do Vento	FW		243.00	250.60	7.60	5.50	3.75
		FW	incl.	247.67	250.60	2.93	1.90	8.52

Hole No.	Vein	From (m)	To (m)	Int. (m)	Est. True Width (m)	Au (g/t)	Ag (g/t)
SIH0021	Chiquilla Chica (C1)	184.30	185.90	1.60	0.88	0.77	1019
UIH0049	Chiquilla Chica (C1)	40.05	41.70	1.65	1.46	0.44	2547
UIH0050	Chiquilla Chica (C1)	72.60	75.30	2.70	1.44	1.29	1181
UIH0056	Chiquilla Chica (C1)	85.60	87.10	1.50	0.95	0.22	578
UEH0024	Dominadora	106.15	135.00	28.85	4.10	3.62	1592
UEH0026	Dominadora	50.77	55.67	4.90	1.20	0.23	1349
UIV0077	El Valle	260.20	262.20	2.00	1.38	4.70	183
UIV0078	El Valle	256.30	257.50	1.20	1.20	4.70	257
UIV0079	El Valle	259.95	262.00	2.05	1.54	8.55	154
UIV0080	El Valle	231.20	232.15	0.95	0.83	16.63	721
UIV0083	El Valle	270.15	270.93	0.78	0.76	10.11	30
UIU0052	La Paloma	114.69	116.50	1.81	1.31	10.88	26
SIE0015	Esmeralda	248.60	249.50	0.90	0.54	10.10	1139
UIP0174	Pampa Campamento	351.13	352.10	0.97	0.52	9.50	664
UIP0176	Pampa Campamento	389.88	390.25	0.37	0.32	26.50	42
UIP0177	Pampa Campamento	291.53	293.60	2.07	1.05	18.89	746
UIP0178	Pampa Campamento	213.94	215.49	1.55	0.52	9.50	420
UIP0175	Pampa Campamento (-35)	184.95	186.15	1.20	0.65	15.33	297
UIP0189	Pampa Campamento Diagonal sur	134.70	135.52	0.82	0.76	16.13	258
UIS0028	Pampa Campamento Diagonal sur	60.38	62.19	1.81	1.71	10.65	186
SEP0055	Pampa Sur	374.00	376.00	2.00	1.09	9.90	97
SEP0072	Pampa Sur	464.00	465.00	1.00	0.69	5.50	403
SIP0051	Pampa Sur	364.18	365.70	1.52	0.98	8.49	156
SIP0056	Pampa Sur	398.07	399.29	1.22	0.92	4.76	359
SIP0063	Pampa Sur	410.53	411.44	0.91	0.67	5.63	405
SIP0064	Pampa Sur	352.12	352.60	0.48	0.42	18.80	1017
SIP0067	Pampa Sur (+50)	328.00	330.00	2.00	1.18	6.50	493
SIP0080	Pampa Sur (+50)	358.50	360.00	1.50	0.79	13.90	716
SIP0073	Pampa Sur Este	378.68	379.38	0.70	0.36	16.00	1651
SES0036	Sorpresa	333.80	334.20	0.40	0.30	22.00	838
UIS0023	Sorpresa	199.30	200.90	1.60	1.30	4.29	133

Hole No	Vein	Zone	From (m)	To (m)	Interval (m)	Est. True Width (m)	Ag g/t	Cu%	Pb%	Zn%
DDH-U-040-24	Cuerpo Andres	Horizonte	51.65	52.30	0.65	0.56	722	0.12	6.06	1.90
and	Labor Este	Horizonte	184.10	186.55	2.45	1.70	123	0.06	3.06	5.98
DDH-U-041-24	Martin Ramal	Middle	198.30	200.90	2.60	2.46	369	0.15	2.74	2.01
DDH-U-049-24	Cuerpo Andres	Horizonte	59.95	63.55	3.60	2.77	768	0.02	1.85	0.62
DDH-U-051-24	Martin Ramal	Middle	236.30	237.20	0.90	0.58	409	0.13	9.27	15.82
DDH-U-055-24	Martin Ramal	Middle	176.20	178.45	2.25	2.24	683	0.17	10.65	3.10
DDH-U-056-24	Cuerpo Andres	Horizonte	48.35	53.00	4.65	3.90	162	0.04	4.02	6.06
DDH-U-064-24	Labor Este	Horizonte	186.60	188.25	1.65	1.43	181	0.04	4.34	4.73
DDH-U-065-24	Cometa Ramal	Horizonte	390.80	394.80	4.00	3.04	133	0.13	2.19	4.65
DDH-U-068-24	Cuerpo Andres	Horizonte	56.75	57.60	0.85	0.65	459	0.07	9.43	6.72
and	Labor Este	Horizonte	202.35	205.25	2.90	1.98	243	0.06	3.54	5.20
DDH-U-071-24	Labor Este	Horizonte	141.20	144.00	2.80	2.56	201	0.03	4.81	4.13
DDH-U-073-24	Labor Este	Horizonte	140.10	143.55	3.45	3.21	74	0.03	2.31	2.16
DDH-U-075-24	Cuerpo Andres	Horizonte	39.85	40.45	0.60	0.55	701	0.09	13.64	8.83
DDH-U-084-24	Cuerpo Andres	Horizonte	60.55	63.00	2.45	1.70	61	0.08	1.97	12.73
DDH-U-086-24	Martin Ramal	Middle	12.60	14.20	1.60	1.56	535	0.20	10.02	2.31
DDH-U-088-24	Cometa Ramal	Horizonte	398.85	404.20	5.35	3.66	114	0.10	1.83	3.55
DDH-U-100-24	Cuerpo Andres	Horizonte	264.85	267.25	2.40	1.64	115	0.04	2.85	3.89
DDH-U-105-24	Cuerpo Andres	Horizonte	54.90	56.65	1.75	1.40	87	0.06	1.77	8.47
DDH-U-108-24	Cometa Ramal	Horizonte	489.95	493.00	3.05	1.65	304	0.08	1.86	2.18
DDH-U-110-24	Maria Ramal	Horizonte	66.00	73.15	7.15	4.10	140	0.04	3.10	5.91
DDH-U-111-24	Maria Ramal	Horizonte	47.70	50.55	2.85	2.10	399	0.04	7.39	14.58
DDH-U-113-24	Maria Ramal	Horizonte	37.35	39.00	1.65	1.50	504	0.04	12.77	19.97
DDH-U-114-24	Maria Ramal	Horizonte	36.10	38.80	2.70	2.50	272	0.03	6.06	10.39
DDH-U-116-24	Maria Ramal	Horizonte	48.60	49.65	1.05	0.80	357	0.07	13.66	12.73

Hole	Vein	From (m)	To (m)	Interval (m)	Est. True Width (m)	Au (g/t)	Ag (g/t)	Zn %
ALH4578	Aurora	115.25	116.10	0.85	0.71	12.62	47	0.46
ALH4598	Bandolera	86.50	88.80	2.30	2.19	4.84	4	3.01
ALH4607	Bandolera	109.05	110.65	1.60	1.25	11.15	6	2.61
ALH4482	Central superior 1	119.85	124.65	4.80	2.68	8.80	410	0.20
ALH4426	Cipres_1	143.17	145.08	1.91	1.19	7.29	7	1.48
ALH4460	Cipres_1	138.90	140.05	1.15	0.72	17.92	15	1.14
ALH4421	Don Leopoldo sur	91.45	93.65	2.20	1.53	6.34	9	4.79
ALH4623	Don Leopoldo sur	116.60	118.20	1.60	1.28	8.29	7	0.40
ALH4505	Gasparín Superior	173.65	175.30	1.65	0.90	10.23	13	0.31
ALH4406	Manda Norte	148.40	149.30	0.90	0.62	29.68	13	0.04
ALH4687	Maqui CII	84.45	85.85	1.40	1.16	5.40	173	2.16
ALH4638	Maqui CII	128.85	132.25	3.40	1.97	9.38	23	4.96
ALH4690	Maqui CII	73.35	75.15	1.80	1.64	4.95	28	2.24
ALH4556	Maqui CIII	54.75	56.05	1.30	1.05	5.62	21	12.52
ALH4580	Maqui CIII	58.20	59.55	1.35	1.03	9.10	22	7.10
ALH4588	Maqui CIII	68.75	70.50	1.75	1.19	13.62	11	3.81
ALH4631	Maqui CIII	52.50	53.20	0.70	0.61	12.68	35	18.07
ALH4638	Maqui CIII	111.15	115.30	4.15	1.98	16.11	13	6.44
ALH4673	Maqui CIII	81.40	83.65	2.25	1.28	9.58	15	5.58
ALH4592	Maqui Norte	107.85	110.10	2.25	1.59	10.23	31	5.57
ALH4562	Mila	113.00	117.40	4.40	2.57	10.32	12	0.08
ALH4574	Mila	191.80	196.20	4.40	1.70	8.29	110	3.34
ALH4467	Mila	129.90	132.55	2.65	1.15	6.52	286	2.29
ALH4476	Peque	67.05	68.25	1.20	0.78	10.68	8	10.05
ALH4481	Peque	80.30	81.55	1.25	0.91	12.53	43	8.31
ALH4496	Peque	55.00	57.30	2.30	1.82	4.74	35	1.26
ALH4577	Peque	101.30	103.75	2.45	1.11	11.57	23	7.61
ALH4644	Peque	59.35	60.20	0.85	0.83	13.77	77	1.54
ALH4715	Peque	202.75	207.85	5.10	1.48	10.71	13	2.74
ALH4729	Rafael II	56.35	59.65	3.30	1.95	4.74	415	3.86
ALH4701	Sat. 1 Maqui	152.55	154.40	1.85	0.92	20.61	13	0.09
ALH4424	Satelite Mila Sur 1	371.85	373.35	1.50	1.41	2.62	627	1.44
ALH4534	Satélite Valeria 1	111.35	112.60	1.25	0.92	14.06	27	0.04
ALH4549	Satélite Valeria 1	107.25	109.90	2.65	1.88	9.05	11	0.09
ALH4594	Satélite Valeria 1	166.35	167.70	1.35	0.85	16.60	17	2.09
ALH4516	Satélite Valeria 8	72.65	73.90	1.25	1.05	3.39	1645	0.18
ALH4521	Satélite Valeria 8	91.00	92.15	1.15	0.82	11.64	55	2.60
ALH4617	Satélite Valeria 8	61.75	62.95	1.20	1.18	15.05	15	0.83
ALH4436	Satélite VCS 21	51.50	52.65	1.15	0.68	15.53	56	0.81
ALH4426	Sorpresa	41.85	44.20	2.35	2.14	5.84	12	1.35
ALH4449	Sorpresa	43.60	46.30	2.70	1.82	5.05	7	0.97
ALH4600	Sorpresa	20.90	26.50	5.60	2.93	5.34	18	3.40
ALH4657	Sorpresa	21.70	28.10	6.40	2.95	8.79	10	1.48
ALH4672	Sorpresa	13.25	15.00	1.75	1.34	6.67	13	1.61

Hole No.	Vein	From (m)	To (m)	Interval (m)	Est. True Width (m)	Ag g/t	Au (g/t)	Pb %	Zn %
S-104-24	Mariana Vein	621.50	622.60	1.10	0.95	9618	0.89	4.85	4.82
and	NC2 Splay	795.95	796.70	0.75	0.53	4916	0.08	9.82	1.02
S-115-24	San Geronimo Vein System	461.10	463.65	2.55	1.08	1637	1.22	2.08	3.35
S-119-24	Cristina Vein	596.00	599.40	3.40	1.95	1470	0.03	3.15	3.23
S-138-24	NC2 Vein	695.60	701.60	6.00	4.60	666	0.90	1.32	2.74
S-146-24	Mariana Vein	701.05	704.55	3.50	2.47	1846	0.41	2.66	3.95
S-154-24	Mariana Vein	466.30	469.85	3.55	2.51	1189	0.24	0.82	1.09
and	NC2 Vein	540.25	544.30	4.05	2.32	2615	0.34	2.31	5.16
S-161-24	San Geronimo Splay	703.15	710.45	7.30	5.59	456	0.94	1.10	2.41
S-168-24	Cristina Vein	361.90	367.00	5.10	3.28	308	4.55	10.18	13.09
and	San Geronimo Vein	597.10	602.95	5.85	2.93	528	0.50	3.04	5.54
S-172-24	San Geronimo Splay	670.60	678.75	8.15	4.08	255	0.23	3.28	7.33
S-44-24	San Geronimo Splay	558.60	562.10	3.50	2.25	1420	0.60	2.04	1.93
S-47-24	NC2 Vein	771.85	783.65	11.80	5.90	837	0.39	2.97	8.01
S-75-24	Mariana Vein	616.40	620.00	3.60	1.80	3025	0.49	4.21	3.10
S-81-24	NC2 Splay	678.30	679.75	1.45	1.36	7634	1.83	1.46	3.62
U-09-24	Sofia Vein	268.55	269.40	0.85	0.74	4914	1.34	6.69	0.03
U-151-24	CRD	66.05	84.50	18.45	17.34	110	0.23	2.20	7.96
U-158-24	Jenni Vein	45.95	49.35	3.40	1.70	1825	1.05	2.35	6.16
U-96-24	Real Vein	252.55	255.60	3.05	2.76	749	0.63	13.01	8.97

Hole No.	From (m)	To (m)	Interval (m) ⁽¹⁾	Ag g/t	Cu %	Pb %	Zn %
D-71-12-24	1102.45	1250.60	148.15	39	0.07	1.68	3.12
U-155-24	724.00	997.10	273.10	54	0.17	0.85	5.18
Incl.	872.50	935.05	62.55	84	0.31	1.97	7.57
U-19-24	503.95	564.20	60.25	85	0.08	7.05	10.41
U-58-24	791.75	869.45	77.70	36	0.08	2.88	4.58
U-74-24	629.70	843.90	214.20	33	0.05	2.69	3.21
U-92-24	527.40	582.40	55.00	103	0.06	4.10	5.75
and	806.40	929.65	123.25	134	0.07	1.02	4.38
(1) True widths of the mineralized intervals are unknown at this time.

Hole No.	Zone	From (m)	To (m)	Int (m)	Est. True Width (m)	Au g/t
TW23-749	Broulan Reef	61.0	62.0	1.0	0.8	28.40
TW23-750	Hallnor	444.2	462.0	17.8	11.7	3.28
	Incl.	454.0	461.0	7.0	4.5	5.98
TW23-751	Hallnor	411.2	430.0	18.8	13.7	2.11
	Incl.	415.0	425.0	10.0	7.3	3.27
TW23-754	Hallnor	548.0	561.0	13.0	10.1	3.33
TW23-756	Hallnor	319.0	320.0	1.0	0.6	65.30
		408.5	428.0	19.5	10.8	2.91
	Incl.	409.0	415.0	6.0	3.3	6.07
TW24-758	Hallnor	472.7	476.9	4.2	2.7	19.89
TW24-759A	Hallnor	500.0	508.0	8.0	5.1	5.15
TW24-765	Hallnor	118.0	119.0	1.0	0.8	58.20
TW24-770	Hallnor	99.0	117.0	18.0	14.5	3.42
	Incl.	99.0	110.0	11.0	8.8	4.58
	and	99.7	102.0	2.3	1.8	14.40
TW24-771	Hallnor	120.5	130.0	9.5	7.2	31.50
	Incl.	122.0	123.0	1.0	0.8	284.00
TW24-772	Bonetal	132.0	133.0	1.0	0.8	71.40
TW24-776	Bonetal	110.0	112.0	2.0	1.5	21.75
TW24-780	Bonetal	193.0	194.0	1.0	0.8	67.80
TW24-782	Bonetal	125.0	140.0	15.0	11.4	3.78
TW24-783	Bonetal	115.0	127.0	12.0	9.8	2.74
		139.0	152.0	13.0	10.6	3.37
TW24-786	Broulan Reef	169.5	180.5	11.0	7.6	6.26
	Incl.	175.0	176.0	1.0	0.7	11.80
	also incl.	178.6	179.1	0.5	0.3	86.30
TW24-793	Broulan Reef	197.1	200.0	2.9	2.4	360.18
	Incl.	197.6	198.1	0.5	0.4	1940.00
	also incl.	198.1	198.5	0.4	0.3	140.00
	also incl.	198.5	199.0	0.5	0.4	31.40
TW24-802	Broulan Reef	116.8	117.2	0.4	0.3	378.00
TW24-804	Broulan Reef	138.5	144.3	5.8	4.3	4.69
	Incl.	140.5	141.0	0.5	0.4	41.20

SILVERCORP REPORTS ADJUSTED EARNINGS OF $52.4 MILLION, $0.30 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $107.4 MILLION FOR FISCAL 2022

Geological significance

A global occurrence

Québec’s Noranda district

Other significant VMS deposits

Potential up and comers in the market

Investor takeaway

1. Adriatic Metals (ASX:ADT)

2. Andean Silver (ASX:ASL)

3. Silver Mines (ASX:SVL)

4. Sun Silver (ASX:SS1)

5. Unico Silver (ASX:USL)

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