Silvercorp Reports Production Results and the Financial Results Release Date for the First Quarter of Fiscal Year 2021

VANCOUVER, British Columbia, July 16, 2020 (GLOBE NEWSWIRE) -- Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE American: SVM) reports production results for the first quarter of Fiscal 2021 ended June 30, 2020 (“Q1 Fiscal 2021”).  The Company produced approximately 1.8 million ounces of silver, 20.1 million pounds of lead, and 7.5 million pounds of zinc.  The Company is on track to produce between 6.2 – 6.5 million ounces of silver, 66.1 – 68.5 million pounds of lead, and 24.5 – 26.7 million pounds of zinc in Fiscal 2021, in accordance with the annual production guidance previously reported in the Company’s news release dated February 6, 2020.  The Company will report its sales volumes along with its unaudited financial and operating results for Q1 Fiscal 2021, expected to be released on Thursday, August 6, 2020 after market close.

Q1 FISCAL 2021 CONSOLIDATED PRODUCTION HIGHLIGHTS

• Ore mined of 254,555 tonnes, a 1% decrease over Q1 Fiscal 2020
• Silver production of approximately 1.8 million ounces, a 10% decrease over Q1 Fiscal 2020;
• Lead production of approximately 20.1 million pounds, a 1% increase over Q1 Fiscal 2020; and
• Zinc production of approximately 7.5 million pounds, a 4% increase over Q1 Fiscal 2020.

Q1 FISCAL 2021 CONSOLIDATED OPERATIONAL RESULTS

			Three months ended June 30, 2020				Three months ended June 30, 2019
			Ying Mining District	GC	Consolidated		Ying Mining District	GC	Consolidated
	Production Data
		Ore Mined (tonne)	174,176	80,379	254,555		176,584	80,808	257,392
		Ore Milled (tonne)	177,689	84,637	262,326		177,681	81,861	259,542
		Head Grades
		Silver (gram/tonne)	293	93			330	95
		Lead (%)	4.6	1.9			4.6	1.9
		Zinc (%)	0.8	3.4			0.9	3.4
		Recovery Rates
		Silver (%)	94.7	82.8			95.8	76.8
		Lead (%)	96.2	89.8			95.9	88.7
		Zinc (%)	63.8	87.3			58.3	85.7
	Metal production
		Silver (in thousands of ounces)	1,544	209	1,752		1,764	192	1,956
		Lead (in thousands of pounds)	16,941	3,136	20,078		16,928	2,963	19,891
		Zinc (in thousands of pounds)	1,920	5,613	7,533		2,048	5,216	7,264