Mr. Lon Shaver reports

SILVERCORP REPORTS 2023 AGM RESULTS

All matters submitted to shareholders for approval as set out in Silvercorp Metals Inc.'s notice of meeting and information circular, both dated Aug. 11, 2023, were approved by the requisite majority of votes cast at Silvercorp's annual general meeting (AGM), held today. A total of 86,866,294 common shares, representing 49.13 per cent of the votes attached to all outstanding shares as at the record date for the meeting, were represented at the AGM. The voting results for the election of directors are set out in the attached table.

David Kong did not stand for re-election as a director. The company would like to thank Mr. Kong for his invaluable contributions over the years.

Final results for all matters voted on at the AGM will be filed on SEDAR+ and on the company's website.

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.