Silvercorp to Commence Work On Resource And Reserve Updates 

VANCOUVER, BC - Silvercorp Metals Inc. has retained two independent consulting firms to prepare updated NI 43-101 reports on four of its properties. AMC Mining Consultants Ltd., which is already nearing completion of a pre-feasibility study on the Company's GC Project in Guangdong Province, has also been retained to prepare updated NI 43-101 technical reports for the Company's Ying Property (including the SGX mine) in Henan Province and the BYP Project in Hunan Province. The Company has also retained Golder Associates Limited(who in January 2011 prepared an Economic Assessment on the Company's Silvertip Project in British Columbia), to update the Silvertip NI 43-101 technical report.

These new independent technical reports will take into account additional exploration and development work completed on the respective properties over the last fiscal year, including the 186,627 meters of underground and surface drilling completed at the Company's properties.