Increased Reserves And Resources At The GC Mine

VANCOUVER - Silvercorp Metals Inc. reported the results of an updated National Instrument 43-101 (NI 43-101) Technical Report on the Gaocheng Ag-Zn-Pb Project in Guangdong Province, People's Republic of China.

From the start of operations at the GC Mine, 1,853,662 tonnes have been mined at average head grades of 94 grams per tonne (g/t) silver (Ag), 1.6% lead (Pb), and 2.9% zinc (Zn).Despite this mine production depletion, there has been an 8% increase in tonnes of combined Proven and Probable Reserves (39% increase in Proven Reserves and 21% decrease in Probable Reserves) compared to the Mineral Reserve estimate in the previous Technical Report on the GC Mine.

Based on only Proven and Probable Reserves, the GC Mine has a projected life of mine (LOM) of 13 years through to 2034, at an average annual production rate of approximately 310,000 tonnes, and with average silver equivalent (AgEq) grades of approximately 309 g/t. The GC Mine has the potential to extend the LOM beyond 2034, via the conversion of existing Mineral Resources to Mineral Reserves, and further exploration and development.

Compared to the Mineral Resources estimate in the 2019 Technical Report, the Measured tonnes have increased by 57% due to the discovery of new veins, new vein interpretations and the conversion of Indicated tonnes (which decreased by 17%) to the Measured Resource classification. Inferred tonnes have also increased by 17%.