Mr. Lon Shaver reports

SILVERCORP RENEWS MINING LICENSE AT YING MINING DISTRICT

Silvercorp Metals Inc.'s SGX mine permit has been renewed for another 11 years with an increased capacity of 500,000 tonnes per year, based on the information posted on the website of the mineral rights administration of the Department of Natural Resources of Henan province. The Yuelianggou mining licence containing the SGX and HZG silver-lead-zinc mines, located in the western part of the Ying mining district, has been renewed until Sept. 24, 2035, with an increase in production capacity to 500,000 tonnes per year.

To renew a mining permit, the company is required to complete a series of studies and reports, including a mineral resource estimate to Chinese standards, a mine development plan, a mine reclamation plan, an environment and soil preservation plan, an environment impact study update, and a safety production facility construction design. All these studies are required to be reviewed by independent panels and then filed with government authorities.

Subject to a final assessment of historical government investment in the licence area, which may result in certain payments, the licence in paper certificate will be issued to Silvercorp. Currently, the SGX and HZG mines are operating normally, and the company is also working on the mine optimization plan to achieve allowed production capacity of 500,000 tonnes per year.

Guoliang Ma, PGeo, manager of exploration and resource of the company, is the qualified person for Silvercorp under National Instrument 43-101, and has reviewed and given consent to the technical information contained in this news release.

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) a long-term commitment to responsible mining and environmental, social and governance.

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