Dr. Rui Feng reports

SILVERCORP ADDS NEW GENERAL MANAGER FOR TANZANIA PROJECT

Silvercorp Metals Inc. has hired Kevin Moxham as general manager of Tanzania projects, effective Jan. 1, 2024.

Reporting to the chief executive officer and the president, Mr. Moxham's main responsibility will be to lead the construction and commissioning of the Nyanzaga gold project, along with related infrastructure, in Tanzania, once Silvercorp has assumed effective control of the project.

Prior to joining Silvercorp, Mr. Moxham most recently served as executive general manager of the Khoemacau copper mine in Botswana, where he was instrumental in facilitating its sale to MMG Ltd. for approximately $2-billion (U.S.) in November, 2023. Mr. Moxham led Khoemacau's mine development efforts from 2017, which culminated in the commencement of production in June, 2021, accomplishing all targeted milestones and ramping up to full capacity of 10,000 tonnes per day by the time of its sale to MMG.

Mr. Moxham started his mining career with Anglo American and has held general manager roles at Barrick Gold's North Mara gold mines in Tanzania, Bisha Mining Share Company in Eritrea and Newmont's Golden Ridge Akyem gold mine in Ghana, among other senior leadership positions. He is a past president and honorary lifetime member of the Association of Mine Resident Engineers of South Africa and a founding board member of the Centre of Mechanization, Witwatersrand University. He had also played professionally in first-class cricket in the past for South Africa's Easterns franchise.

Dr. Rui Feng, chairman and chief executive officer of Silvercorp, commented: "We are very pleased to welcome Kevin to the Silvercorp team. Kevin brings decades of experience in the African mining industry and his deep industry knowledge on that continent will make a great contribution to Silvercorp's future growth."

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, employee well-being, and sustainable development.

We seek Safe Harbor.