Mr. Lon Shaver reports

SILVERCORP FILES LISTING APPLICATION WITH THE HONG KONG STOCK EXCHANGE

Silvercorp Metals Inc. has filed an application with the Stock Exchange of Hong Kong in connection with a proposed triple primary listing of its common shares on the main board of the Hong Kong Stock Exchange together with a global offering of the shares.

A redacted version of the draft disclosure document for the listing application is available on the website of the Hong Kong Stock Exchange website and on SEDAR+ under the company's profile. A redacted version of the draft disclosure document for the listing application will also be submitted under cover of Form 6-K on EDGAR. The draft disclosure document for listing application contains new and supplemental descriptions of certain aspects of the company's business and financial information as required by the Hong Kong Stock Exchange listing rules, as well as updated disclosures of certain information previously disclosed by the company in the documents it submits on SEDAR+ and EDGAR.

There is no assurance as to if or when the listing and the global offering will take place. This communication is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of the company's securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Regulatory

The shares proposed to be issued in connection with the global offering have not been and will not be qualified by a prospectus in any jurisdiction in Canada and may not be offered or sold in Canada except pursuant to an available exemption from prospectus requirements under applicable Canadian securities laws.

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.

We seek Safe Harbor.