Mr. Lon Shaver reports

SILVERCORP ANNOUNCES FILING OF PEA FOR CONDOR GOLD PROJECT IN ECUADOR

Silvercorp Metals Inc. has filed its preliminary economic assessment for the Condor gold project in Ecuador titled: "Independent Technical Report for the Condor Gold Project, Zamora Chinchipe Province, Ecuador." The technical report is effective Nov. 30, 2025, and was prepared by SRK Consulting (Canada) Inc.

The technical report was prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and can be found on the company's website and under the company's profile at SEDAR+ and EDGAR.

Qualified persons

The qualified persons for the technical report are Mark Wanless, FGSSA, PrSciNat, principal geologist with SRK Consulting (Canada) Inc., Benny Zhang, MEng, PEng, principal mining engineer with SRK Consulting (Canada), Sean Kautzman, PEng, principal mining engineer with SRK Consulting (Canada), Dr. Jianhui Huang, PhD, PEng, principal process engineer with Tetra Tech Canada Inc., Dr. Jinxing Ji, PEng, metallurgist with JJ Metallurgical Services, Chris Johns, PEng, principal geotechnical engineer with Tetra Tech Canada, and Mark Liskowich, PGeo, associate principal environmental consultant, SRK Consulting (Canada). The specific sections for which each qualified person is responsible will be outlined in the technical report. All such qualified persons have reviewed the technical content relevant to the sections of the technical report for which they are responsible and have approved its dissemination.

This news release has been reviewed and approved by Guoliang Ma, PGeo, manager of exploration and resource of the company, who is the designated qualified person for the company.

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 environmental, social and governance.