Dr. Rui Feng reports

SILVERCORP PUBLISHES FISCAL 2024 SUSTAINABILITY REPORT

Silvercorp Metals Inc. has published its annual sustainability report for fiscal 2024, detailing the company's environmental, social and governance (ESG) commitments, performance and targets.

"At Silvercorp, we recognize the mining industry's role in supporting the global transition to a low-carbon future and our responsibility to supply essential minerals sustainably," said Dr. Rui Feng, chair and chief executive officer of Silvercorp. "This year, we made significant strides in advancing our sustainability goals by implementing several energy conservation and emissions reduction projects across our operations. As we continue to expand our operations into new jurisdictions, ESG remains at the core of our business strategy, ensuring long-term value creation for all stakeholders, while minimizing our environmental impact and positively impacting the communities in which we operate."

Highlights of Silvercorp's fiscal 2024 sustainability report

Environmental:

• Achieved a water recycling rate of 85 per cent at processing plants, a 4-per-cent increase compared with the company's 2020 baseline, showing Silvercorp's continuing commitment to decrease its freshwater usage;
• Implemented XRT intelligent waste rock screening technology, reducing electricity consumption by 50 kilowatt-hours per tonne of waste rock screened;
• Deployed 10 electric mining trucks at Silvercorp's operations to support the company's emissions reduction targets;
• Had zero significant environmental incidents.

Social:

• Invested $3.2-million in local community initiatives, nearly double the amount of the previous year;
• Achieved local employment from communities surrounding Silvercorp's operations of 74 per cent, a 3-per-cent increase from the previous year;
• Conducted Silvercorp's first gender pay equity survey to reaffirm the company's commitment to fairness and equality in compensation practices.

Governance:

• Achieved female representation of 33 per cent and independence on the board of 83 per cent;
• Strengthened governance with the addition of two new corporate policies, human resources and water stewardship, and published the company's inaugural forced labour and child labour report;
• Formalized Silvercorp's supplier's code of conduct to ensure suppliers are aligned with the company's core values and commitment to ethical and responsible business practices.

Reporting frameworks

The report has been prepared with reference to the GRI standards 2021 of the Global Sustainability Standard Board (GSSB), as well as regarding the sustainable development goals (SDGs) by the United Nations Global Compact (UNGC), the recommendations of the Task Force on Climate- Related Financial Disclosures (TCFD), the global industry standard on tailings by the International Council on Mining and Metals (ICMM), and the Sustainability Accounting Standards Board (SASB) standard on metals and mining.

The full 2024 sustainability report is available for download on the company's website, along with the applicable ESG data tables and GRI (global reporting initiative) indices.

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.

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