Mr. Jeff Quartermaine reports

SILVERCORP ACCEPTS PERSEUS'S OFFER FOR ORECORP

Perseus Mining Ltd. has referred to its off-market takeover bid under Chapter 6 of the Australian Corporations Act for all the current and to be issued ordinary shares in OreCorp Ltd.

Silvercorp Metals Inc. has accepted Perseus's offer. Silvercorp's acceptance was for a total of 73,889,007 OreCorp shares (representing 15.61 per cent of OreCorp shares on issue). As at April 9, 2024, Perseus has a relevant interest in 354,982,123 OreCorp shares (representing 74.98 per cent of OreCorp shares on issue).

The Perseus offer is open until April 19, 2024 (unless extended).

Perseus wants to reiterate that the offer is:

• Unconditional;
• Best and final in the absence of a competing proposal.

OreCorp shareholders should accept the offer in respect of their OreCorp shares.