Mr. Lon Shaver reports

SILVERCORP RECEIVES MINING LICENSE RENEWAL AND EXTENSION

Silvercorp Metals Inc.'s Tieluping-Longmen (TLP-LM) mining licence for the TLP, LME and LMW mines in the Ying mining district has been renewed and extended for a period of 20 years (expiration Feb. 26, 2041) by the Department of Natural Resources, Henan province, China. As the renewal was approved on the basis of a resource estimation report in Chinese standards, which was filed by the company with the Henan provincial government in 2014, a new resource estimation report must be prepared and filed within two years of this renewal.

The TLP-LM mining licence covers 22.7631 square kilometres and forms part of the Ying mining district's four contiguous mining licences totalling approximately 68 square kilometres. The TLP, LME and LMW silver-lead-zinc mines are located on the eastern side of the TLP-LM mining licence. The renewal of the TLP-LM mining licence speaks to the three mines' excellent performance over the last 10 years, in compliance with all regulations and legal requirements. Silvercorp remains committed to operating to the highest safety, health and environmental protection standards.

Guoliang Ma, PGeo, manager of exploration and resource of the company, is the qualified person for Silvercorp under National Instrument 43-101, and has reviewed and given consent to the technical information contained in this news release.

About Silvercorp Metals Inc.

Silvercorp is a profitable Canadian mining company, producing silver, lead and zinc metals in concentrates from mines in China. The company's goal is to continuously create healthy returns to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability, social and environmental relationships, employees' well-being, and sustainable development.

We seek Safe Harbor.