Mr. Lon Shaver reports

SILVERCORP DECLARES SEMI-ANNUAL DIVIDEND OF US$0.0125 PER SHARE

Silvercorp Metals Inc. has declared a semi-annual dividend of 1.25 U.S. cents per share to be paid to all shareholders of record at the close of business on June 12, 2023, with a payment date of the dividend scheduled on or before June 29, 2023.

The dividends are considered eligible dividends for Canadian tax purposes.

The declaration and payment of future dividends is at the discretion of the board of directors and any future decision to pay dividends will be based on a number of factors including commodity prices, market conditions, financial results, cash flows from operations, expected cash requirements and other relevant factors.

About Silvercorp Metals Inc.

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) continuing merger and acquisition efforts to unlock value; and 4) long-term commitment to responsible mining and ESG (environmental, social, governance).