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Yahoo
3 days ago
- Business
- Yahoo
Silvercorp Files Form 40-F Annual Report
Trading Symbol: TSX/NYSE American: SVM VANCOUVER, BC, June 5, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reports that the Company has filed today its fiscal 2025 annual report on Form 40-F with the U.S. Securities and Exchange Commission ("SEC"). The Form 40-F, which includes the Company's fiscal 2025 annual audited financial statements, management's discussion and analysis, and annual information form, is available on the Company's website at and on the SEC's website at Printed copies of the Company's fiscal 2025 annual financial statements, management's discussion and analysis, annual information form and Form 40-F are available free of charge to Silvercorp's securityholders upon written request. 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 For further informationSilvercorp Metals Inc. Lon Shaver PresidentPhone: (604) 669-9397Toll Free 1(888) 224-1881Email: investor@ View original content to download multimedia: SOURCE Silvercorp Metals Inc. Sign in to access your portfolio
Yahoo
23-05-2025
- Business
- Yahoo
Silvercorp: Fiscal Q4 Earnings Snapshot
VANCOUVER, British Columbia (AP) — VANCOUVER, British Columbia (AP) — Silvercorp Metals Inc. (SVM) on Thursday reported a loss of $7.6 million in its fiscal fourth quarter. On a per-share basis, the Vancouver, British Columbia-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs, were 7 cents per share. The mineral miner posted revenue of $75.1 million in the period. For the year, the company reported profit of $58.2 million, or 29 cents per share. Revenue was reported as $298.9 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SVM at
Cision Canada
22-05-2025
- Business
- Cision Canada
SILVERCORP REPORTS ADJUSTED NET INCOME OF $75.1 MILLION, $0.37 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $138.6 MILLION FOR FISCAL 2025
Trading Symbol: TSX/NYSE AMERICAN: SVM VANCOUVER, BC, May 22, 2025 /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 2025") and twelve months ("Fiscal 2025") ended March 31, 2025. All amounts are expressed in US dollars, and figures may not add due to rounding. HIGHLIGHTS FOR Q4 FISCAL 2025 Processed 345,984 tonnes of ore, and produced approximately 3,110 ounces ("oz") of gold, 1.630 million oz of silver, or approximately 1.917 million oz of silver equivalent 1, 16.262 million pounds ("lb") of lead and 4.404 million lb of zinc; Sold approximately 3,465 oz of gold, 1.599 million oz of silver, 16.263 million lb of lead, and 4.488 million lb of zinc, for revenue of $75.1 million; Loss attributable to equity shareholders of $7.6 million, or $0.03 per share; Adjusted net income attributable to equity shareholders 1 of $14.7 million, or $0.07 per share, after excluding a $20.6 million charge on the fair value of derivative liabilities related to convertible notes and warrants, and other non-cash or non-routine items; Cash costs per oz of silver, net of by-product credits 1, of $2.49; All-in sustaining costs per oz of silver, net of by-product credits 1, of $14.31; Generated cash flow from operating activities of $30.7 million; Spent and capitalized $9.9 million on exploration, development, and equipment and facilities for the China operations; Spent and capitalized $3.1 million for the El Domo project; Ended the period with cash and cash equivalents and short-term investments of $369.1 million, an increase of $14.5 million from the previous quarter, and a portfolio of equity investment with a total market value of $70.9 million. The Company also has a stream financing credit of $175 million available for the El Domo project construction. _____________________________ 1 Non-GAAP measures, please refer to section 15 of the corresponding MD&A for the year ended March 31, 2025 for reconciliation. HIGHLIGHTS FOR FISCAL 2025 Processed 1,312,695 tonnes of ore, and produced approximately 7,495 oz of gold, 6.948 million oz of silver, or approximately 7.589 million oz of silver equivalent 1, plus 62.170 million lb of lead and 23.317 million lb of zinc; Sold approximately 7,577 oz of gold, 6.930 million oz of silver, or approximately 7.589 million oz of silver equivalent, plus 62.256 million lb of lead, and 23.469 million lb of zinc, for revenue of $298.9 million; Net income attributable to equity shareholders of $58.2 million, or $0.29 per share; Adjusted net income attributable to equity shareholders of $75.1 million, or $0.37 per share, after excluding $9.0 million loss on the fair value of derivative liabilities, $8.9 million one-time mineral right royalty to renew a mining permit, $15.1 million other non-cash or non-routine expenses, and $12.5 million gain on mark to market investments; Cash costs per oz of silver, net of by-product credits, of negative $0.54; All-in sustaining costs per oz of silver, net of by-product credits, of $12.12; Generated cash flow from operating activities of $138.6 million; Completed the acquisition of Adventus Mining Corporation ("Adventus") on July 31, 2024 at a total cost of $181.3 million, including $150.5 million in shares, $27.0 million cash investments and advances, and $3.8 million in cash transaction costs; Spent and capitalized $77.8 million to complete the construction of the No. 3 tailings storage facility and the new 1,500 tonne per day flotation mill, plus exploration and developments for the China operations; Spent and capitalized $7.5 million on the El Domo project and $1.3 million on the Condor project; Raised $143.3 million net proceeds through an issue of $150.0 million unsecured senior convertible notes; Repaid $13.3 million to Wheaton Precious Metals International Ltd. ("Wheaton") to eliminate obligations to deliver 92.3 oz of gold per month to Wheaton; and Spent $5.9 million on dividends to the shareholders of the Company and for share buy backs. Three months ended March 31, Years ended March 31, 2025 2024 Changes 2025 2024 Changes Financial Results Revenue (in thousands of $) $ 75,113 $ 42,681 76 % 298,895 215,187 39 % Mine operating earnings (in thousands of $) 26,146 13,038 101 % 123,551 80,589 53 % Net income (loss) attributable to equity holders (in thousands of $) (7,585) 5,529 (237) % 58,190 36,306 60 % Earnings (loss) per share - basic ($/share) (0.03) 0.03 (212) % 0.29 0.21 36 % Adjusted earnings attributable to equity holders (in thousands of $) 14,747 3,824 286 % 75,089 39,322 91 % Adjusted earnings per share - basic ($/share) 0.07 0.02 214 % 0.37 0.22 66 % Net cash generated from operating activities (in thousands of $) 30,701 10,238 200 % 138,631 91,570 51 % Capitalized expenditures (in thousands of $) 13,589 13,432 1 % 86,557 64,041 35 % Production Data Ore Processed (tonnes) Gold Ore 39,025 21,843 79 % 86,488 58,262 48 % Silver Ore 306,959 215,650 42 % 1,226,207 1,047,933 17 % 345,984 237,493 46 % 1,312,695 1,106,195 19 % Metal Production Gold (oz) 3,110 1,916 62 % 7,495 7,268 3 % Silver (Koz) 1,630 1,150 42 % 6,948 6,204 12 % Silver equivalent (Koz) 1,917 1,324 45 % 7,589 6,844 11 % Lead (Klb) 16,262 12,527 30 % 62,170 63,171 (2) % Zinc (Klb) 4,404 4,559 (3) % 23,317 23,385 — % Cost Data Cash cost ($/tonne) 83.36 84.31 (1) % 80.86 78.86 3 % AISC ($/tonne) 132.50 143.38 (8) % 142.09 140.40 1 % Cash cost, net of by-product credits ($/oz of silver) 2.49 1.22 104 % (0.54) (0.38) (42) % AISC, net of by-product credits ($/oz of silver) 14.31 14.36 — % 12.12 11.38 7 % Average Selling Price, Net of Value Added Tax and Smelter Charges Gold ($/oz) 2,533 1,899 33 % 2,351 1,792 31 % Silver ($/oz) 27.78 20.74 34 % 26.95 19.93 35 % Lead ($/lb) 0.93 0.88 6 % 0.96 0.86 12 % Zinc ($/lb) 1.06 0.86 23 % 1.11 0.82 35 % Financial Position as at March 31, 2025 December 31, 2024 Changes March 31, 2025 March 31, 2024 Changes Cash and cash equivalents and short-term investments (in thousands of $) $ 369,056 $ 354,647 4 % $ 369,056 184,891 100 % Working capital (in thousands of $) 310,359 300,211 3 % 310,359 154,744 101 % 1. Q4 Fiscal 2025 Financial Results Net loss attributable to equity shareholders of the Company in Q4 Fiscal 2025 was $7.6 million or $0.03 per share, compared to net income of $5.5 million or $0.03 per share in the three months ended March 31, 2024 ("Q4 Fiscal 2024"). The adjusted net income to equity shareholders was $14.7 million or $0.07 per share, after excluding the $20.6 million charge on the fair value of derivative liabilities related to convertible notes and warrants, $6.7 million non-cash expenses or non-routine expenses, including stock base compensation, foreign exchange loss, share of loss in associates, and non-cash portion of interest accrual related to convertible notes, and $4.9 million gain on mark to market investments, compared to $3.8 million or $0.02 per share in Q4 Fiscal 2024. Revenue in Q4 Fiscal 2025 was $75.1 million, up 76% compared to $42.7 million in Q4 Fiscal 2024. The increase is due to 81%, 40%, 37% and 1% respectively more gold, silver, lead and zinc metal produced and sold, coupled with increases of 33%, 34%, 6% and 23%, respectively, in the selling prices for gold, silver, lead and zinc , generating an increase of $20.9 million arising from the increase of metals produced and sold plus a $10.7 million increase arising from higher selling prices. Income from mine operations in Q4 Fiscal 2025 was $26.1 million, up 101% compared to $13.0 million in Q4 Fiscal 2024. The increase was mainly due to the increase in revenue arising from the increases in the net realized metal selling prices and more metals produced and sold. Cash flow provided by operating activities in Q4 Fiscal 2025 was $30.7 million, up $20.5 million, compared to $10.2 million in Q4 Fiscal 2024. The increase was due to: $29.2 million cash flow from operations before changes in non-cash operating working capital, up $15.0 million compared to $14.2 million in Q4 Fiscal 2024; and $1.5 million cash from changes in non-cash working capital, compared to $4.0 million used in Q4 Fiscal 2024. Compared to Q4 Fiscal 2024, other items that impacted this quarter's consolidated financial results were: i) an increase of $2.5 million for mining preparation tunnels were expensed as mining cost; ii) an increase of $3.9 million gain on investments; iii) an increase of $1.0 million in mineral right royalty payment; and iv) a $20.6 million charge on the fair value of derivative liabilities related to convertible notes and warrants, Cash, cash equivalents and short term investments at the end of the quarter was $369.1 million, up 100% or $184.2 million compared to $184.9 million as at March 31, 2024, and up 4% or $14.5 million compared to $354.6 million as at December 31, 2024. The Company holds a further portfolio of equity investments with a total market value of $70.9 million as at March 31, 2025. 2. Fiscal 2025 Financial Results Net income attributable to equity shareholders of the Company in Fiscal 2025 was $58.2 million or $0.29 per share, compared to net income of $36.3 million or $0.21 per share in Fiscal 2024. The adjusted basic earnings to equity shareholders were $75.1 million or $0.37 per share, after excluding a $9.0 million charge on the fair value of derivative liabilities, an $8.9 million one-time mineral rights royalty to renew a mining permit, $15.1 million in other non-cash or non-routine expenses, and $12.5 million gain on mark to market investments, compared to $39.3 million or $0.22 per share in the prior year quarter. Revenue in Fiscal 2025 was $298.9 million, up 39% compared to $215.2 million in Fiscal 2024. This was mainly due to increases of 4%,11%, 3%, and 1%, respectively, in gold, silver, lead, and zinc produced and sold; coupled with increases of 31%, 35%, 12% and 35%, respectively, in the selling prices for gold, silver, lead and zinc, generating an increase of $21.5 million as a result of more metals produced and sold, and an increase of $60.7 million from the higher selling prices. Income from mine operations in Fiscal 2025 was $123.6 million, up 53% compared to $80.6 million in Fiscal 2024. The increase was mainly due to more metals produced and sold and the increases in the net realized metal selling prices. Income from mine operations at the Ying Mining District was $114.1 million, compared to $77.9 million in Fiscal 2024. Income from mine operations at the GC Mine was $11.3 million, compared to $3.1 million in Fiscal 2024. Cash flow provided by operating activities in Fiscal 2025 was $138.6 million, up $47.1 million compared to $91.6 million in Fiscal 2024. The increase was due to: $131.0 million cash flow from operations before changes in non-cash operating working capital, up $43.6 million compared to $87.5 million in Fiscal 2024; and $7.6 million cash from changes in non-cash working capital, compared to $4.1 million provided in Fiscal 2024. Compared to Fiscal 2024, other items that impacted the Company's consolidated financial results were: i) an increase of $12.1 million for mining preparation tunnels that were expensed as mining cost; ii) an increase of $4.8 million in gain on investments; iii) a $12.8 million mineral rights royalty resulting from a one-time payment to renew the SGX mining permit and a new mining rights regulation implemented in China in 2024; iv) a $9.0 million charge on the fair value of derivative liabilities related to convertible notes and warrants, v) an increase of $3.5 million in corporate administrative expenses related to the acquisition of Adventus; and vi) an increase of $2.5 million in business development expenditures. 1. Q4 Fiscal 2025 Operational Results In Q4 Fiscal 2025, on a consolidated basis, the Company processed 345,984 tonnes of ore, up 46% compared to 237,493 tonnes of ore in Q4 Fiscal 2024. Approximately 3,110 oz of gold, 1.630 million oz of silver, or approximately 1.917 million oz of silver equivalent, plus 16.262 million of lb of lead and 4.404 million lb of zinc were produced in Q4 Fiscal 2025, representing increases of 62%, 42%, 45% and 30% in gold, silver, silver equivalent, and lead, and a decrease of 3% in zinc over Q4 Fiscal 2024. In Q4 Fiscal 2025, the consolidated production cost ("cash cost") was $83.36 per tonne of ore processed, effectively the same compared to $84.31 per tonne in Q4 Fiscal 2024, while the AISC was $132.50 per tonne, down 8% compared to $143.38 per tonne in Q4 Fiscal 2024. The consolidated cash cost per ounce of silver, net of by-product credits, was $2.49, compared to $1.22 in Q4 Fiscal 2024. The increase was mainly due to an increase of $3.74 in cash cost per oz of silver, offset by an increase of $2.47 in by-product credits per oz as revenue from other metals increased. The consolidated AISC per oz of silver, net of by-product credits, was $14.31, down 0.3% compared to $14.36 in Q4 Fiscal 2024. 2. Fiscal 2025 Operational Results For Fiscal 2025, on a consolidated basis, the Company processed 1,312,695 tonnes of ore, up 19% compared to 1,106,195 tonnes in Fiscal 2024. A total of 86,488 tonnes of gold ore were processed in Fiscal 2025, up 48% compared to 58,262 tonnes in Fiscal 2024. Approximately 7,495 oz of gold, 6.948 million oz of silver, or approximately 7.589 million oz of silver equivalent, plus 62.170 million lb of lead and 23.317 lb of zinc were produced in Fiscal 2025, representing increases of 3%, 12% and 11%, respectively, in gold, silver and silver equivalent production, and decreases of 2%, and 0.3%, respectively, in lead and zinc production over Fiscal 2024. The consolidated cash cost was $80.86 per tonne of ore processed, up 3% compared to $78.86 per tonne in Fiscal 2024, while the AISC was $142.09 per tonne of ore processed, up 1% compared to $140.40 per tonne in Fiscal 2024. The slight increase was due to more tunneling developments. The consolidated cash cost per oz of silver, net of by-product credits, was negative $0.54, compared to negative $0.38 in Fiscal 2024. The decrease in cash cost was due to an increase in by-product credits as revenue from other metals increased. The consolidated all-in sustaining cost for silver, net of by-product credits, was $12.12 per oz, up 7% compared to $11.38 in Fiscal 2024. The increase was mainly due to i) an increase of $2.1 million in mineral resources tax; and ii) an increase of $4.5 million in mineral rights royalty due to the new regulation of 2.3% mineral right royalty on unpaid mineral resources in China. EXPLORATION AND DEVELOPMENT Capitalized expenditures Plant and equipment Total Capital expenditures Expensed Ramp, Development Tunneling, and other Exploration Tunneling Exploration Drilling Mining Preparation Tunnels Drilling (Metres) ($ Thousand) (Metres) ($ Thousand) (Metres) ($ Thousand) ($ Thousand) ($ Thousand) (Metres) (Metres) Year ended March 31, 2025 Ying Mining District 34,486 $ 23,764 62,035 $ 22,504 60,804 $ 1,942 $ 22,045 $ 70,255 61,466 163,061 GC Mine 2,607 1,664 9,559 3,570 41,335 889 606 6,729 10,355 14,076 El Domo — 7,166 — — — — 305 7,471 — — Condor — 1,275 — — — — — 1,275 — — Other — 543 — — — — 284 827 — — Consolidated 37,092 34,412 71,594 26,074 102,139 2,831 23,240 86,557 71,821 177,137 Year ended March 31, 2024 Ying Mining District 12,659 $ 9,419 75,201 $ 30,660 130,293 $ 4,554 $ 11,368 $ 56,001 33,436 90,868 GC Mine 540 592 11,264 4,293 28,157 1,317 517 6,719 7,787 46,702 Other — — — — — 290 1,031 1,321 — — Consolidated 13,199 10,011 86,465 34,953 158,450 6,161 12,916 64,041 41,223 137,570 Total capital expenditures in Fiscal 2025 were $86.6 million, up 35% compared to $64.0 million in Fiscal 2024 as the Company completed construction and commissioning of the No. 3 tailings storage facility ("TSF") and a new 1,500 t/d flotation mill line at the Ying Mining District, plus the Company incurred an additional $7.5 million capital expenditures at the newly acquired El Domo Project and $1.3 million at the Condor Project. For underground exploration drilling: i) 177,137 metres drilled were in-fill drilling and $4.7 million was booked as mining costs (Fiscal 2024 – 137,570 metres or $2.9 million ); and ii) 102,139 metres drilled were growth drilling and $2.8 million was capitalized (Fiscal 2024 – 158,450 metres or $6.2 million). For underground development and tunneling: i) 71,821 metres completed were mining preparation tunnels and $27.3 million was booked as mining costs (Fiscal 2024 – 41,223 metres or $15.2 million), $12.1 million more than Fiscal 2024; and ii) 108,686 metres completed were growth tunnels, raises, ramps and declines and $51.5 million was capitalized (Fiscal 2024 – 99,664 metres or $45.0 million). The Kuanping Project has received all required permits and licenses and the Company worked on a construction plan in Q4 Fiscal 2025. INDIVIDUAL MINE OPERATING PERFORMANCE Ying Mining District Q4 F2025 Q3 F2025 Q2 F2025 Q1 F2025 Q4 F2024 Years ended March 31, March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 2025 2024 Ore processed (tonne) Gold ore 39,025 21,912 17,075 8,476 21,843 86,488 58,262 Silver ore 265,199 255,783 193,423 212,766 158,424 927,171 757,883 304,224 277,695 210,498 221,242 180,267 1,013,659 816,145 Head grades Silver (grams/tonne) 172 214 240 235.00 197.00 212 231 Lead (%) 2.6 2.7 2.8 3.1 3.1 2.8 3.4 Zinc (%) 0.5 0.5 0.6 0.7 0.6 0.6 0.7 Recovery rates Silver (%) 94.2 94.7 94.9 95.0 94.4 94.7 94.9 Lead (%) 92.3 94.0 94.0 94.4 95.0 93.6 95.1 Zinc (%) 67.3 68.9 70.4 72.3 70.2 69.7 70.6 Cash Costs Cash cost ($/tonne) 84.90 84.92 92.86 90.46 91.09 88.46 85.66 AISC ($/tonne) 120.62 150.87 146.90 140.25 148.24 139.33 141.82 Cash cost, net of by-product credits ($/oz of silver) 3.05 (0.30) 0.62 (0.68) 1.71 0.62 — AISC, net of by-product credits ($/oz of silver) 11.35 11.05 9.05 7.14 12.28 9.68 8.82 Metal Production Gold (oz) 3,110 2,056 1,183 1,146 1,916 7,495 7,268 Silver (Koz) 1,563 1,778 1,518 1,572 1,063 6,431 5,677 Silver equivalent (Koz) 1,850 1,951 1,614 1,657 1,237 7,072 6,317 Lead (Klb) 15,563 15,234 11,970 14,080 11,317 56,847 56,269 Zinc (Klb) 2,039 2,250 1,795 2,468 1,750 8,552 8,213 In Q4 Fiscal 2025, a total of 304,224 tonnes of ore with head grades of 172 g/t for silver, 2.6% for lead, and 0.5% for zinc were processed at the Ying Mining District, up 69% compared to 180,267 tonnes with head grades of 197 g/t for silver, 3.1% for lead, and 0.6% for zinc. Approximately 3,110 oz of gold, 1.563 million oz of silver, or 1.850 million oz of silver equivalent, plus 15.563 million lb of lead, and 2.039 million lb of zinc were produced, an increase of 62%, 47%, 50%, 38%, and 17%, in gold, silver, silver equivalent, lead and zinc, respectively, compared to Q4 Fiscal 2024. In Fiscal 2025, a total of 1,013,659 tonnes of ore with head grades of 212 g/t for silver, 2.8% for lead, and 0.6% for zinc were processed at the Ying Mining District, up 24% compared to 816,145 tonnes with head grades of 231 g/t for silver, 3.4% for lead, and 0.7% for zinc milled in Fiscal 2024. Approximately 7,495 oz of gold, 6.431 million oz of silver, or 7.072 million oz of silver equivalent, 56.847 million lb of lead and 8.552 million lb of zinc were produced, an increase of 3%, 13%, 12%, 1% and 4%, in gold, silver, silver equivalent, lead, and zinc, respectively, compared to Fiscal 2024. GC Mine Q4 F2025 Q3 F2025 Q2 F2025 Q1 F2025 Q4 F2024 Years ended March 31, March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 2025 2024 Ore processed (tonne) 41,760 84,115 86,707 86,454 57,226 299,036 290,050 Head grades Silver (grams/tonne) 61 77 61 64 57 67 69 Lead (%) 0.9 1.1 0.8 0.9 1.1 0.9 1.2 Zinc (%) 2.9 2.7 2.4 2.4 2.5 2.5 2.6 Recovery rates Silver (%) 83.7 82.8 82.2 84.1 83.2 83.1 82.0 Lead (%) 87.4 90.3 87.9 90.2 89.8 89.3 90.5 Zinc (%) 90.3 90.3 90.2 90.4 89.3 90.3 90.0 Costs Cash cost ($/tonne) 77.46 53.69 50.08 50.49 63.12 54.97 59.35 AISC ($/tonne) 117.83 75.55 74.53 83.42 78.32 83.36 85.17 Cash cost, net of by-product credits ($/oz of silver) (8.53) (19.14) (15.67) (12.19) (4.79) (14.71) (4.70) AISC, net of by-product credits ($/oz of silver) 15.05 (6.13) 1.62 8.45 6.63 3.12 11.08 Metal Production Silver (Koz) 67 168 137 145 87 517 527 Lead (Klb) 699 1,853 1,232 1,539 1,210 5,323 6,902 Zinc (Klb) 2,365 4,418 4,016 3,966 2,809 14,765 15,172 In Q4 Fiscal 2025, a total of 41,760 tonnes of ore with head grades of 61 g/t for silver, 0.9% for lead, and 2.9% for zinc were processed at the GC Mine, down 27% compared to 57,226 tonnes with head grades of 57 g/t for silver, 1.1% for lead, and 2.5% for zinc in Q4 Fiscal 2024. Metals produced at the GC Mine were approximately 67,000 oz of silver, 0.699 million lb of lead, and 2.365 million lb of zinc, a decrease of 23%, 42%, and 16%, in silver, lead and zinc production, respectively, compared to Q4 Fiscal 2024. In Fiscal 2025, a total of 299,036 tonnes with head grades of 67 g/t for silver, 0.9% for lead, and 2.5% for zinc were processed at the GC Mine, up 3% compared to 290,050 tonnes with head grades of 69 g/t for silver, 1.2% for lead, and 2.6% for zinc milled in Fiscal 2024. Metals produced at the GC Mine were approximately 0.517 million oz of silver, 5.323 million lb of lead, and 14.765 million lb of zinc, compared to 0.527 million oz of silver, 6.902 million lb of lead, and 15.172 million lb of zinc in Fiscal 2024. A conference call to discuss these results will be held on Friday, May 23, 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 International/Local Toll: 437-900-0527 Conference ID: 40810 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 Mr. Guoliang Ma, 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 For further information Silvercorp Metals Inc. Lon Shaver President Phone: (604) 669-9397 Toll Free 1(888) 224-1881 This 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, 2025, which have been posted on SEDAR+ under the Company's profile at and on EDGAR at and are also available on the Company's website at under the Investor section. This news 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 cost and AISC per tonne of ore processed, silver equivalent, and working capital. The tonnage of ore production refer to wet tonne, containing approximately 2.2% to 2.75% 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 15 – Alternative Performance (Non-GAAP) Measures in the MD&A for the year ended March 31, 2025 filled on SEDAR+ at and EDGAR at and which is incorporated by reference here in. CAUTIONARY 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 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; and construction of the Kuanping Project. 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 and 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 represent expectations as of the date of this news release and are 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 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.
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SILVERCORP REPORTS ADJUSTED NET INCOME OF $75.1 MILLION, $0.37 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $138.6 MILLION FOR FISCAL 2025
Trading Symbol: TSX/NYSE AMERICAN: SVM VANCOUVER, BC, May 22, 2025 /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 2025") and twelve months ("Fiscal 2025") ended March 31, 2025. All amounts are expressed in US dollars, and figures may not add due to rounding. HIGHLIGHTS FOR Q4 FISCAL 2025 Processed 345,984 tonnes of ore, and produced approximately 3,110 ounces ("oz") of gold, 1.630 million oz of silver, or approximately 1.917 million oz of silver equivalent1, 16.262 million pounds ("lb") of lead and 4.404 million lb of zinc; Sold approximately 3,465 oz of gold, 1.599 million oz of silver, 16.263 million lb of lead, and 4.488 million lb of zinc, for revenue of $75.1 million; Loss attributable to equity shareholders of $7.6 million, or $0.03 per share; Adjusted net income attributable to equity shareholders1 of $14.7 million, or $0.07 per share, after excluding a $20.6 million charge on the fair value of derivative liabilities related to convertible notes and warrants, and other non-cash or non-routine items; Cash costs per oz of silver, net of by-product credits1, of $2.49; All-in sustaining costs per oz of silver, net of by-product credits1, of $14.31; Generated cash flow from operating activities of $30.7 million; Spent and capitalized $9.9 million on exploration, development, and equipment and facilities for the China operations; Spent and capitalized $3.1 million for the El Domo project; Ended the period with cash and cash equivalents and short-term investments of $369.1 million, an increase of $14.5 million from the previous quarter, and a portfolio of equity investment with a total market value of $70.9 million. The Company also has a stream financing credit of $175 million available for the El Domo project construction. _____________________________ 1 Non-GAAP measures, please refer to section 15 of the corresponding MD&A for the year ended March 31, 2025 for reconciliation. HIGHLIGHTS FOR FISCAL 2025 Processed 1,312,695 tonnes of ore, and produced approximately 7,495 oz of gold, 6.948 million oz of silver, or approximately 7.589 million oz of silver equivalent1, plus 62.170 million lb of lead and 23.317 million lb of zinc; Sold approximately 7,577 oz of gold, 6.930 million oz of silver, or approximately 7.589 million oz of silver equivalent, plus 62.256 million lb of lead, and 23.469 million lb of zinc, for revenue of $298.9 million; Net income attributable to equity shareholders of $58.2 million, or $0.29 per share; Adjusted net income attributable to equity shareholders of $75.1 million, or $0.37 per share, after excluding $9.0 million loss on the fair value of derivative liabilities, $8.9 million one-time mineral right royalty to renew a mining permit, $15.1 million other non-cash or non-routine expenses, and $12.5 million gain on mark to market investments; Cash costs per oz of silver, net of by-product credits, of negative $0.54; All-in sustaining costs per oz of silver, net of by-product credits, of $12.12; Generated cash flow from operating activities of $138.6 million; Completed the acquisition of Adventus Mining Corporation ("Adventus") on July 31, 2024 at a total cost of $181.3 million, including $150.5 million in shares, $27.0 million cash investments and advances, and $3.8 million in cash transaction costs; Spent and capitalized $77.8 million to complete the construction of the No. 3 tailings storage facility and the new 1,500 tonne per day flotation mill, plus exploration and developments for the China operations; Spent and capitalized $7.5 million on the El Domo project and $1.3 million on the Condor project; Raised $143.3 million net proceeds through an issue of $150.0 million unsecured senior convertible notes; Repaid $13.3 million to Wheaton Precious Metals International Ltd. ("Wheaton") to eliminate obligations to deliver 92.3 oz of gold per month to Wheaton; and Spent $5.9 million on dividends to the shareholders of the Company and for share buy backs. CONSOLIDATED FINANCIAL AND OPERATIONAL RESULTSThree months ended March 31,Years ended March 31,2025 2024 Changes2025 2024 Changes Financial ResultsRevenue (in thousands of $) $ 75,113 $ 42,681 76 %298,895 215,187 39 % Mine operating earnings (in thousands of $) 26,146 13,038 101 %123,551 80,589 53 % Net income (loss) attributable to equity holders (in thousands of $) (7,585) 5,529 (237) %58,190 36,306 60 % Earnings (loss) per share - basic ($/share) (0.03) 0.03 (212) %0.29 0.21 36 % Adjusted earnings attributable to equity holders (in thousands of $) 14,747 3,824 286 %75,089 39,322 91 % Adjusted earnings per share - basic ($/share) 0.07 0.02 214 %0.37 0.22 66 % Net cash generated from operating activities (in thousands of $) 30,701 10,238 200 %138,631 91,570 51 % Capitalized expenditures (in thousands of $) 13,589 13,432 1 %86,557 64,041 35 % Production DataOre Processed (tonnes) Gold Ore 39,025 21,843 79 %86,488 58,262 48 % Silver Ore 306,959 215,650 42 %1,226,207 1,047,933 17 %345,984 237,493 46 %1,312,695 1,106,195 19 % Metal Production Gold (oz) 3,110 1,916 62 %7,495 7,268 3 % Silver (Koz) 1,630 1,150 42 %6,948 6,204 12 % Silver equivalent (Koz) 1,917 1,324 45 %7,589 6,844 11 % Lead (Klb) 16,262 12,527 30 %62,170 63,171 (2) % Zinc (Klb) 4,404 4,559 (3) %23,317 23,385 — % Cost DataCash cost ($/tonne) 83.36 84.31 (1) %80.86 78.86 3 % AISC ($/tonne) 132.50 143.38 (8) %142.09 140.40 1 % Cash cost, net of by-product credits ($/oz of silver) 2.49 1.22 104 %(0.54) (0.38) (42) % AISC, net of by-product credits ($/oz of silver) 14.31 14.36 — %12.12 11.38 7 % Average Selling Price, Net of Value Added Tax and Smelter ChargesGold ($/oz) 2,533 1,899 33 %2,351 1,792 31 % Silver ($/oz) 27.78 20.74 34 %26.95 19.93 35 % Lead ($/lb) 0.93 0.88 6 %0.96 0.86 12 % Zinc ($/lb) 1.06 0.86 23 %1.11 0.82 35 % Financial Position as at March 31, 2025 December 31, 2024 ChangesMarch 31, 2025 March 31, 2024 Changes Cash and cash equivalents and short-term investments (in thousands of $) $ 369,056 $ 354,647 4 %$ 369,056 184,891 100 % Working capital (in thousands of $) 310,359 300,211 3 %310,359 154,744 101 % CONSOLIDATED FINANCIAL RESULTS 1. Q4 Fiscal 2025 Financial Results Net loss attributable to equity shareholders of the Company in Q4 Fiscal 2025 was $7.6 million or $0.03 per share, compared to net income of $5.5 million or $0.03 per share in the three months ended March 31, 2024 ("Q4 Fiscal 2024"). The adjusted net income to equity shareholders was $14.7 million or $0.07 per share, after excluding the $20.6 million charge on the fair value of derivative liabilities related to convertible notes and warrants, $6.7 million non-cash expenses or non-routine expenses, including stock base compensation, foreign exchange loss, share of loss in associates, and non-cash portion of interest accrual related to convertible notes, and $4.9 million gain on mark to market investments, compared to $3.8 million or $0.02 per share in Q4 Fiscal 2024. Revenue in Q4 Fiscal 2025 was $75.1 million, up 76% compared to $42.7 million in Q4 Fiscal 2024. The increase is due to 81%, 40%, 37% and 1% respectively more gold, silver, lead and zinc metal produced and sold, coupled with increases of 33%, 34%, 6% and 23%, respectively, in the selling prices for gold, silver, lead and zinc , generating an increase of $20.9 million arising from the increase of metals produced and sold plus a $10.7 million increase arising from higher selling prices. Income from mine operations in Q4 Fiscal 2025 was $26.1 million, up 101% compared to $13.0 million in Q4 Fiscal 2024. The increase was mainly due to the increase in revenue arising from the increases in the net realized metal selling prices and more metals produced and sold. Cash flow provided by operating activities in Q4 Fiscal 2025 was $30.7 million, up $20.5 million, compared to $10.2 million in Q4 Fiscal 2024. The increase was due to: $29.2 million cash flow from operations before changes in non-cash operating working capital, up $15.0 million compared to $14.2 million in Q4 Fiscal 2024; and $1.5 million cash from changes in non-cash working capital, compared to $4.0 million used in Q4 Fiscal 2024. Compared to Q4 Fiscal 2024, other items that impacted this quarter's consolidated financial results were: i) an increase of $2.5 million for mining preparation tunnels were expensed as mining cost;ii) an increase of $3.9 million gain on investments; iii) an increase of $1.0 million in mineral right royalty payment; andiv) a $20.6 million charge on the fair value of derivative liabilities related to convertible notes and warrants, Cash, cash equivalents and short term investments at the end of the quarter was $369.1 million, up 100% or $184.2 million compared to $184.9 million as at March 31, 2024, and up 4% or $14.5 million compared to $354.6 million as at December 31, 2024. The Company holds a further portfolio of equity investments with a total market value of $70.9 million as at March 31, 2025. 2. Fiscal 2025 Financial Results Net income attributable to equity shareholders of the Company in Fiscal 2025 was $58.2 million or $0.29 per share, compared to net income of $36.3 million or $0.21 per share in Fiscal 2024. The adjusted basic earnings to equity shareholders were $75.1 million or $0.37 per share, after excluding a $9.0 million charge on the fair value of derivative liabilities, an $8.9 million one-time mineral rights royalty to renew a mining permit, $15.1 million in other non-cash or non-routine expenses, and $12.5 million gain on mark to market investments, compared to $39.3 million or $0.22 per share in the prior year quarter. Revenue in Fiscal 2025 was $298.9 million, up 39% compared to $215.2 million in Fiscal 2024. This was mainly due to increases of 4%,11%, 3%, and 1%, respectively, in gold, silver, lead, and zinc produced and sold; coupled with increases of 31%, 35%, 12% and 35%, respectively, in the selling prices for gold, silver, lead and zinc, generating an increase of $21.5 million as a result of more metals produced and sold, and an increase of $60.7 million from the higher selling prices. Income from mine operations in Fiscal 2025 was $123.6 million, up 53% compared to $80.6 million in Fiscal 2024. The increase was mainly due to more metals produced and sold and the increases in the net realized metal selling prices. Income from mine operations at the Ying Mining District was $114.1 million, compared to $77.9 million in Fiscal 2024. Income from mine operations at the GC Mine was $11.3 million, compared to $3.1 million in Fiscal 2024. Cash flow provided by operating activities in Fiscal 2025 was $138.6 million, up $47.1 million compared to $91.6 million in Fiscal 2024. The increase was due to: $131.0 million cash flow from operations before changes in non-cash operating working capital, up $43.6 million compared to $87.5 million in Fiscal 2024; and $7.6 million cash from changes in non-cash working capital, compared to $4.1 million provided in Fiscal 2024. Compared to Fiscal 2024, other items that impacted the Company's consolidated financial results were: i) an increase of $12.1 million for mining preparation tunnels that were expensed as mining cost;ii) an increase of $4.8 million in gain on investments;iii) a $12.8 million mineral rights royalty resulting from a one-time payment to renew the SGX mining permit and a new mining rights regulation implemented in China in 2024;iv) a $9.0 million charge on the fair value of derivative liabilities related to convertible notes and warrants,v) an increase of $3.5 million in corporate administrative expenses related to the acquisition of Adventus; andvi) an increase of $2.5 million in business development expenditures. CONSOLIDATED OPERATIONAL RESULTS 1. Q4 Fiscal 2025 Operational Results In Q4 Fiscal 2025, on a consolidated basis, the Company processed 345,984 tonnes of ore, up 46% compared to 237,493 tonnes of ore in Q4 Fiscal 2024. Approximately 3,110 oz of gold, 1.630 million oz of silver, or approximately 1.917 million oz of silver equivalent, plus 16.262 million of lb of lead and 4.404 million lb of zinc were produced in Q4 Fiscal 2025, representing increases of 62%, 42%, 45% and 30% in gold, silver, silver equivalent, and lead, and a decrease of 3% in zinc over Q4 Fiscal 2024. In Q4 Fiscal 2025, the consolidated production cost ("cash cost") was $83.36 per tonne of ore processed, effectively the same compared to $84.31 per tonne in Q4 Fiscal 2024, while the AISC was $132.50 per tonne, down 8% compared to $143.38 per tonne in Q4 Fiscal 2024. The consolidated cash cost per ounce of silver, net of by-product credits, was $2.49, compared to $1.22 in Q4 Fiscal 2024. The increase was mainly due to an increase of $3.74 in cash cost per oz of silver, offset by an increase of $2.47 in by-product credits per oz as revenue from other metals increased. The consolidated AISC per oz of silver, net of by-product credits, was $14.31, down 0.3% compared to $14.36 in Q4 Fiscal 2024. 2. Fiscal 2025 Operational Results For Fiscal 2025, on a consolidated basis, the Company processed 1,312,695 tonnes of ore, up 19% compared to 1,106,195 tonnes in Fiscal 2024. A total of 86,488 tonnes of gold ore were processed in Fiscal 2025, up 48% compared to 58,262 tonnes in Fiscal 2024. Approximately 7,495 oz of gold, 6.948 million oz of silver, or approximately 7.589 million oz of silver equivalent, plus 62.170 million lb of lead and 23.317 lb of zinc were produced in Fiscal 2025, representing increases of 3%, 12% and 11%, respectively, in gold, silver and silver equivalent production, and decreases of 2%, and 0.3%, respectively, in lead and zinc production over Fiscal 2024. The consolidated cash cost was $80.86 per tonne of ore processed, up 3% compared to $78.86 per tonne in Fiscal 2024, while the AISC was $142.09 per tonne of ore processed, up 1% compared to $140.40 per tonne in Fiscal 2024. The slight increase was due to more tunneling developments. The consolidated cash cost per oz of silver, net of by-product credits, was negative $0.54, compared to negative $0.38 in Fiscal 2024. The decrease in cash cost was due to an increase in by-product credits as revenue from other metals increased. The consolidated all-in sustaining cost for silver, net of by-product credits, was $12.12 per oz, up 7% compared to $11.38 in Fiscal 2024. The increase was mainly due to i) an increase of $2.1 million in mineral resources tax; and ii) an increase of $4.5 million in mineral rights royalty due to the new regulation of 2.3% mineral right royalty on unpaid mineral resources in China. EXPLORATION AND DEVELOPMENTCapitalized expenditures Plant and equipment Total Capital expenditures ExpensedRamp, Development Tunneling, and other Exploration Tunneling Exploration Drilling Mining Preparation Tunnels Drilling(Metres) ($ Thousand) (Metres) ($ Thousand) (Metres) ($ Thousand) ($ Thousand) ($ Thousand) (Metres) (Metres) Year ended March 31, 2025Ying Mining District 34,486 $ 23,764 62,035 $ 22,504 60,804 $ 1,942 $ 22,045 $ 70,255 61,466 163,061 GC Mine 2,607 1,664 9,559 3,570 41,335 889 606 6,729 10,355 14,076 El Domo — 7,166 — — — — 305 7,471 — — Condor — 1,275 — — — — — 1,275 — — Other — 543 — — — — 284 827 — — Consolidated 37,092 34,412 71,594 26,074 102,139 2,831 23,240 86,557 71,821 177,137Year ended March 31, 2024Ying Mining District 12,659 $ 9,419 75,201 $ 30,660 130,293 $ 4,554 $ 11,368 $ 56,001 33,436 90,868 GC Mine 540 592 11,264 4,293 28,157 1,317 517 6,719 7,787 46,702 Other — — — — — 290 1,031 1,321 — — Consolidated 13,199 10,011 86,465 34,953 158,450 6,161 12,916 64,041 41,223 137,570 Total capital expenditures in Fiscal 2025 were $86.6 million, up 35% compared to $64.0 million in Fiscal 2024 as the Company completed construction and commissioning of the No. 3 tailings storage facility ("TSF") and a new 1,500 t/d flotation mill line at the Ying Mining District, plus the Company incurred an additional $7.5 million capital expenditures at the newly acquired El Domo Project and $1.3 million at the Condor Project. For underground exploration drilling: i) 177,137 metres drilled were in-fill drilling and $4.7 million was booked as mining costs (Fiscal 2024 – 137,570 metres or $2.9 million ); andii) 102,139 metres drilled were growth drilling and $2.8 million was capitalized (Fiscal 2024 – 158,450 metres or $6.2 million). For underground development and tunneling: i) 71,821 metres completed were mining preparation tunnels and $27.3 million was booked as mining costs (Fiscal 2024 – 41,223 metres or $15.2 million), $12.1 million more than Fiscal 2024; andii) 108,686 metres completed were growth tunnels, raises, ramps and declines and $51.5 million was capitalized (Fiscal 2024 – 99,664 metres or $45.0 million). The Kuanping Project has received all required permits and licenses and the Company worked on a construction plan in Q4 Fiscal 2025. INDIVIDUAL MINE OPERATING PERFORMANCE Ying Mining District Q4 F2025 Q3 F2025 Q2 F2025 Q1 F2025 Q4 F2024Years ended March 31,March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 20242025 2024 Ore processed (tonne) Gold ore 39,025 21,912 17,075 8,476 21,84386,488 58,262 Silver ore 265,199 255,783 193,423 212,766 158,424927,171 757,883304,224 277,695 210,498 221,242 180,2671,013,659 816,145 Head grades Silver (grams/tonne) 172 214 240 235.00 197.00212 231 Lead (%) 2.6 2.7 2.8 3.1 3.12.8 3.4 Zinc (%) 0.5 0.5 0.6 0.7 0.60.6 0.7 Recovery rates Silver (%) 94.2 94.7 94.9 95.0 94.494.7 94.9 Lead (%) 92.3 94.0 94.0 94.4 95.093.6 95.1 Zinc (%) 67.3 68.9 70.4 72.3 70.269.7 70.6 Cash Costs Cash cost ($/tonne) 84.90 84.92 92.86 90.46 91.0988.46 85.66 AISC ($/tonne) 120.62 150.87 146.90 140.25 148.24139.33 141.82 Cash cost, net of by-product credits ($/oz of silver) 3.05 (0.30) 0.62 (0.68) 1.710.62 — AISC, net of by-product credits ($/oz of silver) 11.35 11.05 9.05 7.14 12.289.68 8.82 Metal Production Gold (oz) 3,110 2,056 1,183 1,146 1,9167,495 7,268 Silver (Koz) 1,563 1,778 1,518 1,572 1,0636,431 5,677 Silver equivalent (Koz) 1,850 1,951 1,614 1,657 1,2377,072 6,317 Lead (Klb) 15,563 15,234 11,970 14,080 11,31756,847 56,269 Zinc (Klb) 2,039 2,250 1,795 2,468 1,7508,552 8,213 In Q4 Fiscal 2025, a total of 304,224 tonnes of ore with head grades of 172 g/t for silver, 2.6% for lead, and 0.5% for zinc were processed at the Ying Mining District, up 69% compared to 180,267 tonnes with head grades of 197 g/t for silver, 3.1% for lead, and 0.6% for zinc. Approximately 3,110 oz of gold, 1.563 million oz of silver, or 1.850 million oz of silver equivalent, plus 15.563 million lb of lead, and 2.039 million lb of zinc were produced, an increase of 62%, 47%, 50%, 38%, and 17%, in gold, silver, silver equivalent, lead and zinc, respectively, compared to Q4 Fiscal 2024. In Fiscal 2025, a total of 1,013,659 tonnes of ore with head grades of 212 g/t for silver, 2.8% for lead, and 0.6% for zinc were processed at the Ying Mining District, up 24% compared to 816,145 tonnes with head grades of 231 g/t for silver, 3.4% for lead, and 0.7% for zinc milled in Fiscal 2024. Approximately 7,495 oz of gold, 6.431 million oz of silver, or 7.072 million oz of silver equivalent, 56.847 million lb of lead and 8.552 million lb of zinc were produced, an increase of 3%, 13%, 12%, 1% and 4%, in gold, silver, silver equivalent, lead, and zinc, respectively, compared to Fiscal 2024. GC Mine Q4 F2025 Q3 F2025 Q2 F2025 Q1 F2025 Q4 F2024Years ended March 31,March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 20242025 2024 Ore processed (tonne) 41,760 84,115 86,707 86,454 57,226299,036 290,050 Head grades Silver (grams/tonne) 61 77 61 64 5767 69 Lead (%) 0.9 1.1 0.8 0.9 1.10.9 1.2 Zinc (%) 2.9 2.7 2.4 2.4 2.52.5 2.6 Recovery rates Silver (%) 83.7 82.8 82.2 84.1 83.283.1 82.0 Lead (%) 87.4 90.3 87.9 90.2 89.889.3 90.5 Zinc (%) 90.3 90.3 90.2 90.4 89.390.3 90.0 Costs Cash cost ($/tonne) 77.46 53.69 50.08 50.49 63.1254.97 59.35 AISC ($/tonne) 117.83 75.55 74.53 83.42 78.3283.36 85.17 Cash cost, net of by-product credits ($/oz of silver) (8.53) (19.14) (15.67) (12.19) (4.79)(14.71) (4.70) AISC, net of by-product credits ($/oz of silver) 15.05 (6.13) 1.62 8.45 6.633.12 11.08 Metal Production Silver (Koz) 67 168 137 145 87517 527 Lead (Klb) 699 1,853 1,232 1,539 1,2105,323 6,902 Zinc (Klb) 2,365 4,418 4,016 3,966 2,80914,765 15,172 In Q4 Fiscal 2025, a total of 41,760 tonnes of ore with head grades of 61 g/t for silver, 0.9% for lead, and 2.9% for zinc were processed at the GC Mine, down 27% compared to 57,226 tonnes with head grades of 57 g/t for silver, 1.1% for lead, and 2.5% for zinc in Q4 Fiscal 2024. Metals produced at the GC Mine were approximately 67,000 oz of silver, 0.699 million lb of lead, and 2.365 million lb of zinc, a decrease of 23%, 42%, and 16%, in silver, lead and zinc production, respectively, compared to Q4 Fiscal 2024. In Fiscal 2025, a total of 299,036 tonnes with head grades of 67 g/t for silver, 0.9% for lead, and 2.5% for zinc were processed at the GC Mine, up 3% compared to 290,050 tonnes with head grades of 69 g/t for silver, 1.2% for lead, and 2.6% for zinc milled in Fiscal 2024. Metals produced at the GC Mine were approximately 0.517 million oz of silver, 5.323 million lb of lead, and 14.765 million lb of zinc, compared to 0.527 million oz of silver, 6.902 million lb of lead, and 15.172 million lb of zinc in Fiscal 2024. CONFERENCE CALL DETAILS A conference call to discuss these results will be held on Friday, May 23, 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 International/Local Toll: 437-900-0527 Conference ID: 40810 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 Mr. Guoliang Ma, 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 For further information Silvercorp Metals Inc. Lon Shaver President Phone: (604) 669-9397 Toll Free 1(888) 224-1881 Email: investor@ Website: ALTERNATIVE PERFORMANCE (NON-GAAP) MEASURES This 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, 2025, which have been posted on SEDAR+ under the Company's profile at and on EDGAR at and are also available on the Company's website at under the Investor section. This news 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 cost and AISC per tonne of ore processed, silver equivalent, and working capital. The tonnage of ore production refer to wet tonne, containing approximately 2.2% to 2.75% 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 15 – Alternative Performance (Non-GAAP) Measures in the MD&A for the year ended March 31, 2025 filled on SEDAR+ at and EDGAR at and which is incorporated by reference here in. CAUTIONARY 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 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; and construction of the Kuanping Project. 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 and 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 represent expectations as of the date of this news release and are 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 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: SOURCE Silvercorp Metals Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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12-05-2025
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Silvercorp Announces Updated Mineral Resource Estimate for its Condor Project, located in the Zamora Chinchipe Province of Ecuador
Trading Symbol: TSX/NYSE American: SVM VANCOUVER, BC, May 12, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report an updated independent mineral resource estimate (the "MRE") prepared in accordance with National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101") for its Condor gold project in the Zamora-Chinchipe Province of Ecuador (the "Project"). A preliminary economic assessment ("PEA") was completed on the Project in 2021 by a previous operator1, which outlined a high tonnage, low-grade, open pit gold project. As discussed in its December 4, 2024 press release, that after publishing an updated MRE the Project, the Company will then publish an updated Preliminary Economic Assessment study for the Project. The MRE update was completed by SRK Consulting (Canada) Inc. ("SRK") with an effective date of February 28, 2025, focused on the higher-grade material that would be accessible through underground mining, whereas the Camp and Los Cuyes deposits are reported as underground resources, based on cutoff grades of 2.2 g/t (Base Case) , 1.5 g/t (Case 2), and 1 g/t (Case 3) of gold equivalent ("AuEq") (Table 1). For the smaller satellite deposits of Enma and Soledad, mineral resources are reported using conceptual pit constraints (Table 2). Highlights of MRE for Underground Operation Total indicated underground mineral resources of 3.17 million tonnes ("Mt") at Camp and Los Cuyes deposits, containing 0.34 million ounces ("Mozs") of gold ("Au"), 2.0 Moz of silver ("Ag"), and 49.4 million pounds ("Mlbs") of zinc ("Zn"), or collectively 0.37 Moz gold equivalent ("AuEq") at a cutoff grade of 2.2 g/t AuEq. Total inferred underground mineral resources of 12.1 Mt at Camp and Los Cuyes deposits, containing 1.38 Mozs of Au, 8.56 Mozs of Ag, and 204.2 Mlbs of Zn, or collectively 1.50 Mozs AuEq at a cutoff grade of 2.2 g/t AuEq. Favorable initial metallurgical test work indicates laboratory-based gold recoveries of up to 96% at Camp and 88% at Los Cuyes based on cyanide leaching. Resource Estimation Details The mineralized bodies have been modeled as a combination of sub-vertical to steeply dipping planar structures, and a disseminated system of mineralization in four distinct deposits, each with individual mineralization characteristics. The exploration database contains exploration results from previous operators of the Project from 1993 to 2018. Silvercorp has undertaken relogging of the drill holes and a re-interpretation of the controls on mineralization. The mineral resources have been estimated using a combination of ordinary kriging and Inverse Distance squared weightings depending on the quantity and density of data available in each mineralized domain. The mineral resources have been classified and reported in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards and NI 43-101. A full NI 43-101 technical report covering all the details of mineral resource estimation processes will be posted under the Company's SEDAR+ profile at within 45 days from the date of this news release. ________________________________ 1 Condor Project NI 43-101 Report on Preliminary Economic Assessment Zamora-Chinchipe, Ecuador, July 28, 2021, filed under Luminex Resources on Sedar+ Resource Statement Table A Base Case underground mineral resource estimate for the Camp and Los Cuyes deposits was made based on a cutoff grade of 2.2g/t AuEq which is calculated from assumptions of specified metal prices and estimated costs of mining, processing and G&A. Cutoff sensitivity tables for Case 2 (cutoff grade of 1.5 g/t AuEq) and Case 3 (cutoff grade of 1.0 g/t AuEq) are also provided. These cases are based on lower cutoff grades derived from higher metals prices and lower costs of mining, processing and G&A, to accommodate optimistic perspective of future market conditions. Table 1: Condor Project – Underground Mineral Resource as of Feb 28, 2025 Base Case – Cutoff Grade AuEq 2.2 g/t Average Grade Contained Metal Deposit Tonnes AuEq Au Ag Pb Zn AuEq Au Ag Pb Zn(Mt) (g/t) (g/t) (g/t) ( %) ( %) (Moz) (Moz) (Moz) (Mlb) (Mlb) Indicated Camp 2.45 3.44 3.17 18.68 0.08 0.73 0.27 0.25 1.47 4.36 39.45 Los Cuyes 0.72 4.04 3.82 22.9 0.09 0.63 0.09 0.09 0.53 1.37 9.97 Total 3.17 3.58 3.32 19.63 0.08 0.71 0.37 0.34 2.00 5.72 49.42 Inferred Camp 7.9 3.38 3.07 20.59 0.08 0.89 0.86 0.78 5.23 13.27 154.94 Los Cuyes 4.2 4.71 4.47 24.64 0.12 0.53 0.64 0.60 3.33 10.74 49.28 Total 12.1 3.84 3.55 22 0.09 0.77 1.50 1.38 8.56 24.01 204.22 Cutoff grade calculation= (Mining cost + Processing cost + G&A) / (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Camp = (US$80/t + US$40/t+ US$22/t)/(US$2,200 * 99.5% * 96% * (1-3%)/ 31.1035. -Los Cuyes = (US$80/t + US$35/t+ US$18/t)/(US$2,200 * 99.2% * 88% * (1-3%)/ 31.1035. Sensitivity Case 2 - Cutoff Grade AuEq 1.5 g/t Average Grade Contained Metal Deposit Tonnes AuEq Au Ag Pb Zn AuEq Au Ag Pb Zn(Mt) (g/t) (g/t) (g/t) ( %) ( %) (Moz) (Moz) (Moz) (Mlb) (Mlb) Indicated Camp 4.37 2.72 2.47 17.17 0.07 0.69 0.38 0.35 2.41 6.85 66.70 Los Cuyes 1.25 3.11 2.93 18.80 0.08 0.63 0.12 0.12 0.75 2.23 17.30 Total 5.62 2.81 2.57 17.53 0.07 0.68 0.51 0.46 3.17 9.08 83.99 Inferred Camp 16.25 2.58 2.31 17.45 0.06 0.77 1.35 1.21 9.11 22.67 276.04 Los Cuyes 5.29 4.12 3.90 21.79 0.11 0.52 0.70 0.66 3.70 12.41 60.95 Total 21.53 2.96 2.70 18.51 0.07 0.71 2.05 1.87 12.82 35.07 337.00 Cutoff grade calculation= (Mining cost + Processing cost + G&A) / (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Camp = (US$60/t + US$30/t+ US$22/t)/(US$2,500 * 99.5% * 96% * (1-3%)/ 31.1035. -Los Cuyes = (US$60/t + US$30/t+ US$15/t)/(US$2,500 * 99.2% * 88% * (1-3%)/ 31.1035. Sensitivity Case 3 - Cutoff Grade AuEq 1 g/t Average Grade Contained Metal Deposit Tonnes AuEq Au Ag Pb Zn AuEq Au Ag Pb Zn(Mt) (g/t) (g/t) (g/t) ( %) ( %) (Moz) (Moz) (Moz) (Mlb) (Mlb) Indicated Camp 6.44 2.25 2.02 15.77 0.06 0.62 0.47 0.42 3.27 8.90 87.91 Los Cuyes 1.45 2.86 2.69 17.60 0.08 0.63 0.13 0.13 0.82 2.55 20.07 Total 7.89 2.36 2.14 16.11 0.07 0.62 0.60 0.54 4.08 11.45 107.98 Inferred Camp 23.78 2.16 1.92 15.43 0.06 0.68 1.65 1.47 11.80 29.05 356.32 Los Cuyes 6.01 3.78 3.58 20.20 0.10 0.53 0.73 0.69 3.90 13.71 70.66 Total 29.79 2.49 2.26 16.39 0.07 0.65 2.38 2.16 15.70 42.76 426.98 Cutoff grade calculation= (Mining cost + Processing cost + G&A) / (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Camp = (US$55/t + US$20/t+ US$15/t)/(US$3,000 * 99.5% * 96% * (1-3%)/ 31.1035. -Los Cuyes = (US$55/t + US$20/t+ US$10/t)/(US$3,000 * 99.2% * 88% * (1-3%)/ 31.1035. In addition to the underground MRE at Camp and Los Cuyes, conceptual open pit shell constrained MRE were reported for Soledad and Enma with cut-off grades of 0.5 g/t AuEq for Soledad and 0.6 g/t AuEq for Enma (Table 2): Total indicated open pit mineral resources of 4.06 Mt at the Soledad and Enma deposits, containing 0.14 Moz of Au, 9.27 Moz of Ag, and 50.1 Mlbs of Zn, or collectively 0.15 Mozs AuEq. Total inferred open pit mineral resources of 14.17 Mt at the Soldedad and Enma deposits, containing 0.35 Mozs of Au, 2,676 Kozs of Ag, and 158.1 Mlbs of Zn, or collectively 0.38 Mozs AuEq. Table 2: Condor Project – Conceptual Open Pit Constrained Mineral Resource as of Feb 28, 2025 Average Grade Contained Metal Deposit Tonnes AuEq Au Ag Pb Zn AuEq Au Ag Pb Zn(Mt) (g/t) (g/t) (g/t) ( %) ( %) (Moz) (Moz) (Moz) (Mlb) (Mlb) Indicated Soledad 4.03 1.14 1.06 7.05 0.05 0.56 0.15 0.14 0.91 4.37 49.88 Enma 0.03 1.05 0.97 7.11 0.07 0.3 0.00 0.00 0.01 0.05 0.21 Total 4.06 1.14 1.06 7.05 0.05 0.56 0.15 0.14 0.92 4.41 50.10 Inferred Soledad 14.15 0.83 0.76 5.86 0.04 0.51 0.38 0.35 2.66 12.82 158.01 Enma 0.02 0.74 0.56 16.07 0.06 0.2 0.00 0.00 0.01 0.03 0.10 Total 14.17 0.82 0.76 5.87 0.04 0.51 0.38 0.35 2.68 12.85 158.11 Cutoff grade within pit shell = (Processing cost + G&A)/ (Au price * Au payable * Au recovery * (1-royalty)/31.1035): -Soledad = (US$20/t+ US$12/t)/(US$2,200 * 99.5% * 90% * (1-3%)/ 31.1035. -Enma = (US$20/t+ US$12/t)/(US$2,200 * 99.5% * 75% * (1-3%)/ 31.1035. Notes: Mineral resources are reported in relation to a conceptual pit shell for Soledad and Enma, and above an underground extraction economic cut off value for Camp and Los Cuyes. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. AuEq equivalent formulas by deposits using a gold price of US$2,200/oz, silver price of US$27/oz, zinc price of US$2,650/t and lead price of US$1,950/t.- Camp = Au g/t + Ag g/t * 0.0076 + Zn %* 0.1643 + Pb% * 0.0976.- Los Cuyes = Au g/t + Ag g/t * 0.0092 + Pb% * 0.1515.- Soledad = Au g/t + Ag g/t * 0.0109.- Enma = Au g/t + Ag g/t * 0.0111. Numbers may not compute exactly due to rounding. Deposit Descriptions The Condor deposits are hosted in a Cretaceous volcanic complex of diatremes and rhyolite/dacite intrusives crosscutting the Zamora batholith granodiorite of Jurassic age. The Project consists of the following known deposits in the northern area (Figure 1): Figure 1: Condor Project Plan View Showing Mineral Deposits Los Cuyes: Gold is hosted in a volcanic diatreme which crosscuts a granodiorite batholith. The diatreme, with a dimension of 450m in NE-SW x 300m in NW-SE x 350m depth comprises phreatomagmatic breccias, tuff and sediments, all of which are cross-cut by NW and NE striking dykes of rhyolite and dacite. Gold mineralization mostly occurs in subvertical vein structures containing pyrite and sphalerite with minor amounts of galena and chalcopyrite. The vein-like mineralisation primarily occurs along the contact zones of intrusive dykes with the surrounding volcanics and Granodiorite batholith. In addition, gold is also associated with sulfide dissemination occurring in rhyolitic tuff units, resulting in wide sub-horizontal zones of gold mineralization. Camp: Gold mineralization occurs within veins of pyrite/sphalerite and is controlled by NW striking rhyolite dykes at shallow levels, as well as crypto intrusive domes of rhyolite at depth. Gold mineralization remains open beyond a depth of 700 metres based on existing drill data. Soledad: Gold mineralization is associated with pyrite/sphalerite replacement of feldspar grains (patchy) or veins hosted in a rhyodacite porphyry. At San Jose, gold mineralization consists of sphalerite-rich veins hosted in phreatomagmatic breccia. Guaya: Gold mineralization is associated with pyrite-sphalerite veins hosted in a rhyo-dacite porphyry. Enma: Gold mineralization occurs within veins of pyrite/sphalerite hosted in the rhyolitic breccia along the contact between dacitic tuff and granodiorite batholith. Next Steps The Company will undertake a 3,500-metre surface drilling program over 10 holes at Los Cuyes and Camp commencing in May 2025 to test several areas where the Company sees exploration potential: Broad zones of sub-horizontal disseminated gold mineralization which occur within the rhyolitic tuffs at Los Cuyes. Contact zone of crypto rhyolite domes with batholith granodiorite for wide mineralization at Camp. Region between the Camp and Los Cuyes deposits. Gap area between Camp and Soledad, testing for potential connection of NW trending mineralized structures across the two deposits and for potential strike extension of NW trending mineralized structures. Gap between the Los Cuyes and Enma deposits for potential strike extension of NW trending mineralized structures. With the MRE complete, the Company plans to publish a PEA by the end of 2025 for an underground operation. In addition, the Company will continue to advance necessary permits and community agreements required to develop exploration tunnels into the higher grade zones, which will inform a possible feasibility study which would follow the PEA. Qualified Person The MRE and data verification were completed by SRK. Mr. Mark Wanless, Principal Geologist with SRK, is the qualified person (as defined in NI 43-101) for the purposes of the MRE. The scientific and technical information contained in this news release has been reviewed and approved by the qualified person. The qualified person has verified the information disclosed herein using standard verification processes, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties or any limitations on the verification process that could be expected to affect reliability or confidence in the information discussed herein. 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 For further informationSilvercorp Metals Shaver PresidentPhone: (604) 669-9397Toll Free 1(888) 224-1881Email: investor@ Cautionary Note to US Investors This news release has been prepared in accordance with the requirements of Canadian NI 43-101 and the CIM, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC"), and information concerning mineralization, deposits, mineral reserve and mineral resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, this news release uses the terms "indicated mineral resources", and "inferred mineral resources". U.S. investors are advised that, while such terms are recognized and required by Canadian securities laws, the SEC does not recognize them. The requirements of NI 43-101 for identification of "reserves" are not the same as those of the SEC, and may not qualify as "reserves" under SEC standards. Under U.S. standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors are cautioned not to assume that any part of an "indicated mineral resource" will ever be converted into a "reserve". U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of "inferred mineral resources" exist, are economically or legally mineable or will ever be upgraded to a higher category. Under Canadian securities laws, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Disclosure of "contained metal" in a mineral resource is permitted disclosure under Canadian securities laws. However, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place tonnage and grade, without reference to unit measures. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards. CAUTIONARY 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 inferred, indicated or measured mineral resources or mineral reserves on the Company's projects, the anticipated exploration, drilling, development, construction, and other activities or achievements of the Company; the filing of NI 43-101 technical report; plans to advance the permits and community agreements required to develop exploration tunnels into the higher grade zones; and the Company's plans to publish a PEA. 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. Actual results may vary from forward-looking statements. 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; changes in national and local government's taxation, controls, political or economic developments; integration and operations of Adventus; the Company's ability to obtain and maintain social license at its mineral properties; risks associated with community relations and corporate social responsibility; 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 in the Company's Annual Report on Form 40-F, and other filings with Canadian and U.S. regulators on and 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 their public reports and filings which are available under its profile at View original content to download multimedia: SOURCE Silvercorp Metals Inc.
