SILVERCORP PROVIDES STATUS UPDATE ON OPERATIONS

VANCOUVER, British Columbia, March 12, 2020 (GLOBE NEWSWIRE) -- Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE American: SVM) is pleased to report that since mid-February its Ying and GC mines have ramped up operations with no reportable incidents, and in full compliance with government measures implemented to limit the potential transmission of COVID-19.

As of March 10, 2020, the Ying and GC mines had achieved 94% of planned mining and development stope production capacity.  The mills are operating, with an inventory of supplies exceeding one month of operation, and with the country’s industries back in operation, Silvercorp does not anticipate any shortages of supplies. 

The Chinese government has introduced measures to help enterprises affected by the extended shutdown, namely a 5% reduction in power prices and a waiver of social welfare fund contributions for five months.  Silvercorp continues to ramp up all aspects of its operations and remains focused on doing so in a responsible manner to ensure the health and safety of all staff.

About Silvercorp

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, employees’ wellbeing, and sustainable development. For more information, please visit our website at www.silvercorp.ca.

For further information

Silvercorp Metals Inc.
Lon Shaver 
Vice President
Phone: [phone]
Toll Free 1(888) 224-1881
Email: [e-mail]  
Website: www.silvercorp.ca 

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

Certain of the statements and information in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.  Forward-looking statements or information relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the sufficiency of the Company’s capital to finance the Company’s operations; estimates of the Company’s revenues and capital expenditures; estimated production from the Company’s mines in the Ying Mining District; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company’s operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company’s properties.