Trading Symbols: TSX/NYSE AMERICAN: SVM

VANCOUVER, British Columbia – January 15, 2025 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE American: SVM) reports production and sales figures for the third quarter of fiscal 2025 ended December 31, 2024 (“Q3 Fiscal 2025”). Silvercorp expects to release its Q3 Fiscal 2025 unaudited financial results on Tuesday, February 11, 2025, after market close.

Q3 Fiscal 2025 Operational Results  

• Record revenue of approximately $83.6 million, an increase of 43% over the same quarter last year (“Q3 Fiscal 2024”);
• Ore mined of 383,543 tonnes, up 11% over Q3 Fiscal 2024;
• Ore milled of 361,810 tonnes, up 16% over Q3 Fiscal 2024;
• Silver production of 1.9 million ounces, an increase of 16% over Q3 Fiscal 2024; silver equivalent (only silver and gold)ⁱ production of approximately 2.1 million ounces, compared to 1.8 million ounces in Q3 Fiscal 2024;
• Lead production of approximately 17.1 million pounds, an increase of 2% over Q3 Fiscal 2024;
• Zinc production of approximately 6.7 million pounds, a decrease of 10% over Q3 Fiscal 2024; and
• Inventory stockpile ores at the Ying Mining District of approximately 145 thousand tonnes will be processed during the Chinese New Year holidays in the fourth quarter.

Consolidated Operational Results for the Three Months Ended December 31, 2024 and 2023

At the Ying Mining District, a total of 297,246 tonnes of ore were mined in Q3 Fiscal 2025, up 21% over Q3 Fiscal 2024, and 277,695 tonnes of ore were milled, up 30% over Q3 Fiscal 2024. Approximately 1.8 million ounces of silver, 2,056 ounces of gold, 2.0 million ounces of silver equivalent, 15.2 million pounds of lead, and 2.3 million pounds of zinc were produced, representing production increases of 53%, 18%, 20%, 5%, and 5%, respectively, in gold, silver, silver equivalent, lead and zinc over Q3 Fiscal 2024. Inventory stockpile ores at the Ying Mining District of approximately 145 thousand tonnes will be processed during the Chinese New Year holidays in the fourth quarter as the 1,500 tonnes per day mill expansion has been in operation since November 2024.

At the GC Mine, 86,297 tonnes of ore were mined, down 13% over Q3 Fiscal 2024, and 84,115 tonnes of ore were milled, down 14% over Q3 Fiscal 2024. Approximately 168 thousand ounces of silver, 1.9 million pounds of lead, and 4.4 million pounds of zinc were produced, representing decreases of 3%, 16% and 16%, respectively, in silver, lead and zinc over Q3 Fiscal 2024.

Consolidated Operational Results for the Nine Months Ended December 31, 2024 and 2023

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.