Mr. Lon Shaver reports

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

Silvercorp Metals Inc.'s board of directors 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 Nov. 24, 2023, with a payment date of the dividend scheduled on or before Dec. 15, 2023.

The dividend is considered an eligible dividend 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 several factors, including commodity prices, market conditions, financial results, cash flows from operations, expected cash requirements and other relevant factors.

For more details, please visit the company's profile on SEDAR+, on EDGAR 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.