Mr. Lon Shaver reports

SILVERCORP CONSIDERING PERSEUS ANNOUNCEMENTS

Silvercorp Metals Inc. has noted the announcements made by Perseus Mining Ltd. in relation to its acquisition of a 19.9-per-cent interest in OreCorp Ltd. Silvercorp is considering these announcements to determine an appropriate course of action in the best interests of Silvercorp shareholders.

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 and governance).