Silvercorp Metals Inc Press Releases

Silvercorp Declares Quarterly Cash Dividend of CAD$0.025

Wed, 22 May 2013 18:30:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2013) - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) today announced that its Board of Directors has declared a quarterly dividend of CAD$0.025 per share (CAD$0.10 per share on an annual basis) to be paid on or before July 19, 2013, to shareholders of record at the close of business on June 28, 2013. The dividends are considered eligible dividends for Canadian tax purposes.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically. For more information, please visit our website at 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 Camp; 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.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses; title to properties; First Nations title claims and rights; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; and bringing actions and enforcing judgments under U.S. securities laws.

This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form for the year ended March 31, 2012 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.


FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free 1(888) 224-1881
(604) 669-9387 (FAX)
investor@silvercorp.ca
www.silvercorp.ca




Source: Silvercorp Metals Inc.

Silvercorp Reports Financial and Operating Results for the Fourth Quarter and Fiscal Year Ended March 31, 2013

Wed, 22 May 2013 17:05:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2013) - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) today reported its financial and operating results for the fourth quarter and fiscal year ended March 31, 2013.

FOURTH QUARTER HIGHLIGHTS

--  Silver production of 0.94 million ounces;
--  Sales of $33.1 million;
--  Net income of $6.4 million or $0.04 per share;
--  Cash flow from operations of $14.8 million, or $0.09 per share;
--  Payment of a quarterly dividend to shareholders of $4.3 million or
    CAD$0.025 per share; and
--  Re-negotiated contracts with eight mining contractors at the Ying Mining
    District with updated fees to reflect the change in mining strategy,
    which increases the use of the lower cost shrinkage method to 75% and
    reduces the use of the higher cost re-suing method to 25% for expected
    ore production of 900,000 tonnes in Fiscal 2014. The new contracts are
    expected to provide a reduction in total mining cost.

FISCAL YEAR 2013 HIGHLIGHTS

--  Silver production of 4.97 million ounces;
--  Gold production of 12,457 ounces;
--  Sales of $181.6 million;
--  Adjusted net income of $36.9 million or $0.22 per share;
--  Cash flow from operations of $85.8 million, or $0.50 per share;
--  Cash cost of $0.48 per ounce of silver at the Ying Mining District;
--  Completed construction of the GC mine and began trial mining and
    processing;
--  Return of $17.1 million to shareholders in quarterly dividend payments
    of CAD$0.025 per share; and
--  Commenced the implementation of a new mining strategy at the Ying Mining
    District which is expected to have a positive long-term impact on
    operations.

FINANCIALS

1. Q4 Fiscal 2013 vs. Q4 Fiscal 2012

For the quarter ended March 31, 2013 ("Q4 Fiscal 2013"), net income attributable to equity holders of the Company was $6.4 million or $0.04 per share compared to net income of $9.7 million or $0.06 per share in the quarter ended March 31, 2012 ("Q4 Fiscal 2012").

Compared to the same prior year quarter, the decrease in net income was mainly due to (i) lower base metal production: 11.7 million pounds of lead and zinc were produced and sold in this quarter compared to 17.6 million pounds of lead and zinc in Q4 Fiscal 2012; (ii) a decrease in realized prices for silver and lead of 7% and 8%, respectively; and (iii) an increase in production costs.

In Q4 Fiscal 2013, the Company realized sales of $33.1 million compared to $44.3 million in Q4 Fiscal 2012.

Cost of sales in Q4 Fiscal 2013 was $16.1 million compared to $14.3 million in Q4 Fiscal 2012 and included cash costs of $13.8 million compared to $11.1 million in Q4 Fiscal 2012. The increase of cost of sales was due to an 11% increase in ore production.

The gross profit margin in Q4 Fiscal 2013 was 52%, compared to 68% in Q4 Fiscal 2012.

Cash flow from operations in Q4 Fiscal 2013 was $14.8 million or $0.09 per share, compared to $12.6 million, or $0.07 per share, in Q4 Fiscal 2012.

2. Fiscal 2013 vs. Fiscal 2012

For the year ended March 31, 2013 ("Fiscal 2013"), net income attributable to equity holders of the Company was $27.2 million, or $0.16 per share. Excluding the $9.6 million non-cash accounting charge in respect to the Company's investment in an associate, adjusted net income for Fiscal 2013 was $36.9 million, or $0.22 per share. As there were no adjustments to net income in the prior year ended March 31, 2012 ("Fiscal 2012"), net income was $73.8 million, or $0.43 per share.

The overall decrease in net income compared to the prior year was mainly due to (i) a 15% decline in the realized silver price; (ii) a decrease in silver production of 0.65 million ounces; (iii) a decrease in base metal production of 20.3 million pounds of lead and zinc; and (iv) higher overall production costs as more ore was processed at reduced head grades for silver, lead and zinc.

In Fiscal 2013, the Company realized sales of $181.6 million compared to $238.0 million in Fiscal 2012.

Cost of sales in Fiscal 2013 was $73.1 million, an increase of 20%, compared to $61.1 million in Fiscal 2012 and included cash costs of $59.9 million compared to $48.7 million in Fiscal 2012. The increase is due to a 19% increase in ore production at lower head grades.

In Fiscal 2013, the gross profit margin was 60% compared to 74% in Fiscal 2012.

Cash flow from operations in Fiscal 2013 was $85.8 million or $0.50 per share, compared to $113.3 million, or $0.65 per share, in Fiscal 2012. The Company ended the fiscal year with $117.9 million in cash, cash equivalents and short-term investments.

OPERATIONS

1. Q4 Fiscal 2013 vs. Q4 Fiscal 2012

In Q4 Fiscal 2013, on a consolidated basis, the Company produced 0.94 million ounces of silver, 2,333 ounces of gold, 9.8 million pounds of lead, and 1.9 million pounds of zinc compared to 1.1 million ounces of silver and 1,987 ounces of gold, 14.7 million pounds of lead, and 2.9 million pounds of zinc in Q4 Fiscal 2012.

Ying Mining District, Henan Province, China

In Fiscal 2013, following a reduction in the cut-off grades for the Ying Mining District resource, the company has begun to gradually reduce the use of the re-suing method and increase the use of the shrinkage method for mining. As a result, ore production has increased but with reduced head grades for silver, lead and zinc, which resulted in less metal production. However, the long term benefit of the change in mining strategy is expected to increase mine life and reduce overall mining costs in an effort to offset the increasing labour cost in China.

Additionally in Q4 Fiscal 2013, contract renewal negotiations with the Company's eight mining contractors took longer than expected as fees needed to be adjusted to reflect the change in mining strategy. The uncertainty during the contract renegotiations affected the ore production rate. As of April 2013, all contracts had been successfully renewed and production rate had returned to levels required to achieve the Company's Fiscal 2014 annual production guidance.

In Q4 Fiscal 2013, the Company mined 153,323 tonnes of ore at the Ying Mining District compared to 135,748 tonnes in Q4 Fiscal 2012. During the quarter, metal production totalled 0.93 million ounces of silver, 800 ounces of gold, 9.5 million pounds of lead and 1.6 million pounds of zinc, compared to 1.1 million ounces of silver, 966 ounces of gold, 14.7 million pounds of lead, and 2.6 million pounds of zinc in Q4 Fiscal 2012.

Head grades were 205 grams per tonne ("g/t") for silver, 2.9% for lead and 0.7% for zinc, compared to 275 g/t for silver, 5.2% for lead and 1.4% for zinc in the same quarter last year.

In Q4 Fiscal 2013, total and cash mining costs per tonne were $72.56 and $61.67, respectively, compared to $73.52 and $57.62 in Q4 Fiscal 2012, respectively.

In Q4 Fiscal 2013, a total of 158,145 tonnes of ore was milled compared to 136,609 tonnes in Q4 Fiscal 2012. The cash milling cost per tonne was $16.05 in Q4 Fiscal 2013 compared to $16.84 in Q4 Fiscal 2012.

Total and cash costs per ounce of silver in Q4 Fiscal 2013 for the Ying Mining District were $5.82 and $3.65 respectively, compared to negative $1.84 and negative $4.22, in Q4 Fiscal 2012, respectively.

BYP Mine, Hunan Province, China

In Q4 Fiscal 2013, the Company mined 19,334 tonnes of ore at the BYP mine with a gold head grade of 3.0 g/t compared to 16,265 tonnes and a gold head grade of 2.1 g/t in Q4 Fiscal 2012. During the quarter, 1,509 ounces of gold were produced and sold at a cash cost per ounce of gold of $493 compared to 1,021 ounces of gold produced and sold at cash cost per ounce of gold of $768 in the same period last year. In Q4 Fiscal 2013, total and cash mining costs per tonne were $58.33 per tonne and $26.35 per tonne respectively compared to $43.22 and $19.24 in Q4 Fiscal 2012, respectively.

2. Fiscal 2013 vs. Fiscal 2012

In Fiscal 2013, on a consolidated basis, the Company produced 4.97 million ounces of silver, 12,457 ounces of gold, 53.9 million pounds of lead and 12.4 million pounds of zinc, compared to 5.62 million ounces of silver, 8,771 ounces of gold, 72.8 million pounds of lead and 13.7 million pounds of zinc in Fiscal 2012.

Ying Mining District, Henan Province, China

In Fiscal 2013, the total ore mined at the Ying Mining District was 776,846 tonnes, an increase of 17% compared to 662,572 tonnes in Fiscal 2012.

Head grades at the Ying Mining District were 220 g/t for silver, 3.3% for lead, and 1.0% for zinc in Fiscal 2013 compared to 287 g/t for silver, 5.2% for lead and 1.4% for zinc in Fiscal 2012.

In Fiscal 2013, the Ying Mining District produced 4.94 million ounces of silver, 4,153 ounces of gold, 52.2 million pounds of lead, and 11.2 million pounds of zinc, compared to 5.61 million ounces of silver, 3,595 ounces of gold, 72.4 million pounds of lead, and 13.5 million pounds of zinc in Fiscal 2012.

Head grades and metal production were impacted by an increase in production from the HPG, TLP, and LM mines, which represented 40% of total production at the Ying Mining District; and the aforementioned impact from the implementation of the change in mining strategy at the Ying Mining District.

In Fiscal 2013, total and cash mining costs per tonne were $66.62 and $55.94 respectively compared to $64.70 and $51.60 in Fiscal 2012, respectively. The overall increase in cash mining costs per tonne was due to: (i) an increase in labour costs of $1.60 per tonne, (ii) an increase in mining administration costs of $1.00 per tonne, (iii) an increase in mining preparation and infill drilling costs of $1.62 per tonne, and (iii) the impact of US dollar depreciation versus the Chinese RMB of $1.00 per tonne. Additional mining preparation and infill drilling were necessary to implement the change in mining strategy.

In Fiscal 2013, total ore milled was 774,534 tonnes, an increase of 16% compared to 667,094 tonnes in Fiscal 2012. In Fiscal 2013, cash milling costs were $13.56 compared to $14.13 in Fiscal 2012.

Including by-product credits, in Fiscal 2013, total cost and cash cost per ounce of silver were $2.45 and $0.48 respectively, compared to negative $3.19 and negative $5.07, respectively, in Fiscal 2012.

BYP Mine, Hunan Province, China

In Fiscal 2013, the total ore mined was 109,093 tonnes compared to 91,128 tonnes in Fiscal 2012. The Company produced and sold 8,068 ounces of gold in Fiscal 2013 compared to 5,064 ounces of gold in Fiscal 2012. The cash cost per ounce of gold was $455 in Fiscal 2013 compared to $474 in Fiscal 2012. Gold head grade for Fiscal 2013 was 3.1 g/t compared to 2.4 g/t in Fiscal 2012.

The consolidated operational results for the past five quarters and full Fiscal 2013 and Fiscal 2012 are summarized in the table below:

Consolidated Operational
 Results                                       Quarterly
                          --------------------------------------------------
                             Q4 2013   Q3 2013   Q2 2013   Q1 2013   Q4 2012
                           31-Mar-13 31-Dec-12 30-Sep-12 30-Jun-12 31-Mar-12
----------------------------------------------------------------------------
Ore Mined (tonne)
 Direct Smelting Ore
  (tonne)                      1,309     2,334     2,442     2,251     2,761
 Stockpiled Ore (tonne)      171,348   278,850   238,005   208,709   153,141
                          --------------------------------------------------
                             172,657   281,184   240,447   210,960   155,902
----------------------------------------------------------------------------
Run of Mine Ore (tonne)
 Direct Smelting Ore
  (tonne)                      1,309     2,334     2,442     2,251     2,761
 Ore Milled (tonne)          198,356   284,394   246,765   214,414   157,423
                          --------------------------------------------------
                             199,665   286,728   249,207   216,665   160,184
----------------------------------------------------------------------------
Metal Sales
 Silver (in thousands of
  ounces)                        944     1,519     1,286     1,224     1,084
 Gold (in thousands of
  ounces)                        2.3       5.1       2.5       2.6       2.0
 Lead (in thousands of
  pounds)                      9,827    16,430    13,897    13,744    14,670
 Zinc (in thousands of
  pounds)                      1,903     3,977     3,523     2,974     2,890
----------------------------------------------------------------------------
Head Grade of Run of Mine
 Ore
 Silver (gram/tonne)             205       222       224       225       275
 Gold (gram/tonne) - BYP
  mine                           3.0       3.7       3.3       2.2       2.1
 Lead (%)                        2.9       3.2       3.4       3.6       5.2
 Zinc (%)                        0.7       1.0       1.2       1.1       1.4
----------------------------------------------------------------------------
Recovery Rate of Run of
 Mine Ore
 Silver (%)                     93.5      93.3      92.7      90.9      93.2
 Gold (%) - BYP mine            92.0      92.7      94.1      90.1      87.1
 Lead (%)                       94.5      95.1      94.3      93.2      96.4
 Zinc (%)                       60.3      70.4      69.6      62.6      64.6
----------------------------------------------------------------------------
Cash Mining Cost ($ per
 tonne)                        57.71     50.98     50.11     50.43     53.40
Total Mining Costs($ per
 tonne)                        70.96     65.26     62.41     65.55     70.24
Cash Milling Cost ($ per
 tonne)                        15.50     12.72     12.40     14.41     16.50
Total Milling Cost ($ per
 tonne)                        17.86     14.23     14.11     16.35     18.75
----------------------------------------------------------------------------
Cash Cost per Ounce of
 Silver ($)                     3.65    (0.17)    (0.74)      0.14    (4.22)
Total Production Cost per
 Ounce of Silver ($)            5.82      1.52      1.05      2.47    (1.84)
----------------------------------------------------------------------------
BYP Cash Cost per Ounce of
 Gold ($)                        493       317       361       577       768
BYP Production Cost per
 Ounce of Gold ($)               870       750       769     1,046     1,378
----------------------------------------------------------------------------

Consolidated Operational
 Results                          Annual
                           --------------------
                               Fiscal    Fiscal
                                 2013      2012
                            31-Mar-13 31-Mar-12
-----------------------------------------------
Ore Mined (tonne)
 Direct Smelting Ore
  (tonne)                       8,336    12,599
 Stockpiled Ore (tonne)       896,912   744,991
                          ---------------------
                              905,248   757,590
-----------------------------------------------
Run of Mine Ore (tonne)
 Direct Smelting Ore
  (tonne)                       8,336    12,599
 Ore Milled (tonne)           943,929   749,922
                          ---------------------
                              952,265   762,521
-----------------------------------------------
Metal Sales
 Silver (in thousands of
  ounces)                       4,973     5,618
 Gold (in thousands of
  ounces)                        12.5       8.8
 Lead (in thousands of
  pounds)                      53,898    72,804
 Zinc (in thousands of
  pounds)                      12,377    13,749
-----------------------------------------------
Head Grade of Run of Mine
 Ore
 Silver (gram/tonne)              220       287
 Gold (gram/tonne) - BYP
  mine                            3.1       2.4
 Lead (%)                         3.3       5.2
 Zinc (%)                         1.0       1.4
-----------------------------------------------
Recovery Rate of Run of
 Mine Ore
 Silver (%)                      92.8      92.9
 Gold (%) - BYP mine             92.4      90.8
 Lead (%)                        94.5      96.0
 Zinc (%)                        66.8      68.0
-----------------------------------------------
Cash Mining Cost ($ per
 tonne)                         52.05     47.40
Total Mining Costs($ per
 tonne)                         65.85     61.51
Cash Milling Cost ($ per
 tonne)                         13.56     14.19
Total Milling Cost ($ per
 tonne)                         15.36     15.85
-----------------------------------------------
Cash Cost per Ounce of
 Silver ($)                      0.48    (5.13)
Total Production Cost per
 Ounce of Silver ($)             2.45    (3.25)
-----------------------------------------------
BYP Cash Cost per Ounce of
 Gold ($)                         455       474
BYP Production Cost per
 Ounce of Gold ($)                882       844
-----------------------------------------------

3. Fiscal 2013 vs. Fiscal 2013 Guidance

                Ying Mining District         BYP             X mines(1)

                     F2013  Guidance     F2013  Guidance     F2013  Guidance
----------------------------------------------------------------------------
Ore (tonne)        774,534   740,000   104,090    92,000    73,641
----------------------------------------------------------------------------
                                 Head Grades
----------------------------------------------------------------------------
Silver
 (gram/tonne)        220.0     245.0
Gold
 (gram/tonne)          0.2       0.2       3.1       2.1
Lead (%)               3.3       4.0
Zinc (%)               1.0       1.5
----------------------------------------------------------------------------
                              Metal Production
----------------------------------------------------------------------------
Silver ('000 Oz)     4,941     5,300                            32        50
Gold ('000 Oz)         4.2       3.6       8.1       4.7       0.2
Lead ('000 Lb)      52,220    65,000                         1,678     2,500
Zinc ('000 Lb)      11,171    13,000       283     1,300       923     1,200
----------------------------------------------------------------------------
(1) Xmines production represents development tunnelling ore from XBG and XHP
 mines.
(2) No commerical production at GC mine in Fiscal 2013.

                        GC(2)               Total

                     F2013  Guidance     F2013  Guidance
--------------------------------------------------------
Ore (tonne)              -    35,000   952,265   867,000
--------------------------------------------------------
                       Head Grades
--------------------------------------------------------
Silver
 (gram/tonne)
Gold
 (gram/tonne)
Lead (%)
Zinc (%)
--------------------------------------------------------
                    Metal Production
--------------------------------------------------------
Silver ('000 Oz)         -       170     4,973     5,520
Gold ('000 Oz)           -                12.5       8.3
Lead ('000 Lb)           -     1,200    53,898    68,700
Zinc ('000 Lb)           -     1,500    12,377    17,000
--------------------------------------------------------
(1) Xmines production represents development tunnelling
 ore from XBG and XHP mines.
(2) No commerical production at GC mine in Fiscal 2013.

DEVELOPMENT AND EXPLORATION

1. Ying Mining District, Henan Province, China

In Q4 Fiscal 2013, $5.2 million (Q4 Fiscal 2012 - $5.8 million) in exploration and development expenditure was incurred at the Ying Mining District. In Fiscal 2013, $33.3 million (Fiscal 2012 - $28.7 million) in exploration and development expenditure was incurred at the Ying Mining District.

SGX Mine

As at the end Fiscal 2013, the Company had completed over 1,800 metres ("m") of the 5,200m ramp at the SGX mine. The ramp is designed to follow the S7-1 and S8 veins from the 450m elevation to the 150m elevation and then bottom at the zero metre elevation, where it will be connected to three existing vertical blind shafts to provide ventilation and access. The Company expects to complete construction of the ramp in calendar year 2015. As construction progresses, the ramp is expected to increase production capacity at the SGX mine with effect from the second quarter of Fiscal 2014.

In Fiscal 2013, the Company also developed 31,600m of horizontal tunnels and completed 63,000m of underground drilling at the SGX mine.

During the year, to support the ongoing expansion work at the SGX mine, the Company has completed the design work for a new 5,000 square metre ("m2") surface facility which will include offices and dormitories. Site preparation work (roads, power, and water) has been completed while construction for the first phase of the surface facilities began at the end of March 2013.

LM Mine and LM Mine West

At the end Fiscal 2013, the Company completed nearly 1,700m of the development work for a 4,800m access ramp at the LM Mine West ("LM West"). The ramp was collared at the 980m elevation and is designed to provide access to veins LM7, LM8, LM10, LM11, LM12, LM13 at the northern end of LM West and veins LM14, LM16, and LM17 at the southern end of LM West. The upper portion of the ramp has already been connected to existing tunnels at LM West resulting in improved tunnel ventilation and hauling capacity.

Shaft 969 at LM West is on schedule to become operational in Fiscal 2014 and is expected to commence ore production during the third quarter of Fiscal 2014. Once Shaft 969, the access ramp and all of the mining levels are completed down to the 500m elevation at LM West in Fiscal 2015, the combined production capacity of the LM mine and LM West is expected to be approximately 300,000 tonnes of ore per year.

In Fiscal 2013, the Company also developed 17,300m of decline and horizontal tunnels and completed 49,300m of underground drilling at the LM mine and LM West.

To support the expansion in operations at the LM mine and LM West, the Company has completed the site preparation work for the construction of a 3,000m2 surface facility, including offices and a dormitory building. The Company expects to commence construction in the first half of Fiscal 2014.

TLP Mine

In Fiscal 2013, the Company developed over 19,500m of horizontal tunnels and completed 27,500m of underground drilling.

HPG Mine

In Fiscal 2013, the Company developed over 10,500m of decline and horizontal tunnels and completed 16,000m of underground drilling.

2. GC Project, Guangdong Province, China

In Fiscal 2013, the Company substantially completed the GC mine construction.

The main access ramp totalling 2,010m in length was completed in Fiscal 2013 and has accessed the V2 vein at the +40m, +20m, and 0m elevations. In addition, 1,520m of the 4,600m exploration ramp was completed during Fiscal 2013. Once the exploration ramp is completed, it will provide access to all known veins within a horizontal distance of 250m. The exploration ramp has accessed the V9, V9-1, V9W-1 and V9W-2 veins at the 100m, 50m and 0m elevations through cross-cuts and has developed transportation drifts and mining preparation drifts. The exploration ramp has also been connected to the main ramp at the +100m, +50m and 0m elevations, as well as to the main shaft at the 100m elevation to provide ventilation and a safety exit. During the course of Fiscal 2014, the Company will use the main ramp and the exploration ramp access points for mining.

As at the end of Fiscal 2013, 550m of the 628m main shaft was completed down to an elevation of -300m. The shaft is expected to reach its designed elevation of -380m in the second quarter of Fiscal 2014. Installation of the hoist system, including the hoist tower for the shaft is expected to be completed by the beginning of Fiscal 2015.

During Fiscal 2013, the construction of the 1,600 t/d floatation mill was also completed. In March 2013 the Company commenced equipment testing and trial processing to fine tune the mill circuit to achieve the desired metallurgical recovery rates for silver, lead, zinc, tin, and sulphur in concentrates. Testing is expected to last several months. The construction of the dry stack tailings storage facility and the related safety and environmental protection facilities was completed by the end of March 2013.

The construction of a new power supply system to provide sufficient power to the site, consisting of a 5.8 kilometre power line, a 110KV substation, and a 10KV safety backup-circuit began in late September 2012. In February 2013, the new power supply station began supplying power to the site.

To achieve formal commercial production, the Company is required to pass a series of regulatory inspections to ensure it has complied with safety and environmental protection requirements. The Company expects to pass the inspection and to obtain its Safety Production Permit in the third quarter of Fiscal 2014.

In Fiscal 2013, the Company completed 35,500m diamond drilling using five underground drill rigs and two surface drill rigs currently on site at the GC mine.

In Q4 Fiscal 2013, $4.8 million (Q4 Fiscal 2012 - $3.5 million) of exploration and development expenditure was incurred at the GC mine. In Fiscal 2013, $15.8 million (Fiscal 2012 - $5.9 million) of exploration and development expenditure was incurred at the GC mine.

3. BYP Mine, Hunan Province, China

In Fiscal 2013, the Company completed the preparation work for the construction of a shaft with a total depth of 265m. Ongoing work includes the installation of shaft equipment and construction of the head frame. Once completed, this shaft which will facilitate mining of the #3 gold mineralization body and the #5 zinc and lead ore body. In addition, the construction of a 1,500 t/d tailings-backfill facility is expected to be completed in the first quarter of Fiscal 2014.

In Fiscal 2013, approximately $5.7 million (Fiscal 2012 - $4.0 million) in exploration and development expenditure was incurred at the BYP mine, of which $1.1 million was incurred in Q4 Fiscal 2013 (Q4 Fiscal 2012 - $1.2 million).

4. Fiscal 2014 Capital Expenditure Review

Following the recent decline in metal prices, the Company is currently reviewing its capital expenditure for Fiscal 2014 to identify opportunities to reduce costs and optimize the allocation of capital across the Company, including examining strategic options for non-core assets.

Myles Gao , P.Geo., President, is the Qualified Person for Silvercorp under NI 43-101 and has reviewed and given consent to the technical information contained in this News Release.

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted on SEDAR at www.sedar.com and are also available on the Company's website at www.silvercorp.ca. All figures are in United States dollars unless otherwise stated.

CONFERENCE CALL AND WEBCAST INFORMATION

An analyst conference call will be held on Thursday, May 23, 2013 at 8 a.m. Pacific Time (11 a.m. Eastern Time) to discuss the results. Participants may join the call by dialing 1-866-226-1793 toll-free or 1-416-340-2218 for calls outside of Canada and the U.S. Members of the media are invited to attend on a listen-only basis.

A live audio webcast of the conference call, together with supporting presentation slides, will be available on the home page of the Company's website, www.silvercorp.ca. The webcast will be archived and available on the Company's website for up to one year.

An audio replay will be available until May 30, 2013 by calling 1-800-408-3053 toll free or 1-905-694-9451 for calls outside Canada and the U.S. and entering pass code 5618743.

About Silvercorp

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; First Nations title claims and rights; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; and bringing actions and enforcing judgments under U.S. securities laws.

SILVERCORP METALS INC.
Consolidated Balance Sheets
----------------------------------------------------------------------------
(Expressed in thousands of U.S. dollars)

                                            March 31, 2013    March 31, 2012
----------------------------------------------------------------------------
ASSETS
Current Assets
 Cash and cash equivalents                 $        72,283  $        109,960
 Short-term investments                             45,623            44,551
 Accounts receivable                                 1,442            12,904
 Inventories                                         7,522             7,006
 Due from related parties                              123               679
 Prepaids and deposits                               5,118             5,210
----------------------------------------------------------------------------
                                                   132,111           180,310

Non-current Assets
 Long term prepaids and deposits                     1,877             6,015
 Investment in an associate                          6,523            15,872
 Other investments                                  15,516            45,757
 Plant and equipment                               103,517            68,788
 Mineral rights and properties                     316,678           258,521
----------------------------------------------------------------------------
TOTAL ASSETS                               $       576,222  $        575,263
----------------------------------------------------------------------------
----------------------------------------------------------------------------

LIABILITIES AND EQUITY
Current Liabilities
 Accounts payable and accrued liabilities  $        29,285  $         23,590
 Deposits received                                  11,497             7,268
 Dividends payable                                   4,204             4,271
 Income tax payable                                  1,349             5,082
 Due to related parties                              1,207                 -
----------------------------------------------------------------------------
                                                    47,542            40,211

Non-current Liabilities
 Deferred income tax liabilities                    24,603            19,820
 Environmental rehabilitation                        5,974             4,400
----------------------------------------------------------------------------
Total Liabilities                                   78,119            64,431
----------------------------------------------------------------------------

Equity
 Share capital                                     233,082           232,678
 Share option reserve                                8,314             5,552
 Reserves                                           24,717            24,717
 Accumulated other comprehensive (loss)
  income                                            (1,495)           25,285
 Retained earnings                                 155,817           145,580
----------------------------------------------------------------------------
Total equity attributable to the equity
 holders of the Company                            420,435           433,812

Non-controlling interests                           77,668            77,020
----------------------------------------------------------------------------
Total Equity                                       498,103           510,832
----------------------------------------------------------------------------

TOTAL LIABILITIES AND EQUITY               $       576,222  $        575,263
----------------------------------------------------------------------------
----------------------------------------------------------------------------

SILVERCORP METALS INC.
Consolidated Statements of Income
----------------------------------------------------------------------------
(Expressed in thousands of U.S. dollars, except for per share figures)

                             Three Months Ended                 Years Ended
                                      March 31,                   March 31,
                    --------------------------- ----------------------------
                             2013          2012          2013          2012
----------------------------------------------------------------------------
                       (Unaudited)   (Unaudited)
Sales                $     33,147  $     44,312  $    181,622  $    237,962
Cost of sales              16,060        14,329        73,089        61,149
----------------------------------------------------------------------------
Gross profit               17,087        29,983       108,533       176,813

General and
 administrative             6,252         8,042        25,734        27,124
General exploration
 and property
 investigation                711           249         3,909         3,699
Other taxes                   483         1,264         2,985         4,394
Foreign exchange
 gain                      (1,050)          (97)       (1,382)         (406)
Loss on disposal of
 plant and equipment           64            20           149           268
Gain on disposal of
 mineral rights and
 properties                  (644)            -          (644)            -
Share of loss (gain)
 in associate                 (34)          137           197           182
Impairment on
 associate                      -             -         9,640             -
Loss on investments           980           281         1,651           567
Other income                 (153)         (840)         (535)       (2,457)
----------------------------------------------------------------------------
Income from
 operations                10,478        20,927        66,829       143,442

Finance income              1,666           812         4,507         3,528
Finance costs                 (23)          (26)          (92)          (94)
----------------------------------------------------------------------------
Income before income
 taxes                     12,121        21,713        71,244       146,876

Income tax expense          3,730         7,657        29,201        45,648
----------------------------------------------------------------------------
Net income           $      8,391  $     14,056  $     42,043  $    101,228
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Attributable to:
 Equity holders of
  the Company        $      6,361  $      9,700  $     27,211  $     73,838
 Non-controlling
  interests                 2,030         4,356        14,832        27,390
----------------------------------------------------------------------------
                     $      8,391  $     14,056  $     42,043  $    101,228
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Earnings per share
 attributable to the
 equity holders of
 the Company
Basic earnings per
 share               $       0.04  $       0.06  $       0.16  $       0.43
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Diluted earnings per
 share               $       0.04  $       0.06  $       0.16  $       0.43
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Weighted Average
 Number of Shares
 Outstanding - Basic  170,772,725   170,650,904   170,733,504   172,487,486
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Weighted Average
 Number of Shares
 Outstanding -
 Diluted              170,990,015   171,162,713   171,059,482   173,214,711
----------------------------------------------------------------------------
----------------------------------------------------------------------------

SILVERCORP METALS INC.
Consolidated Statements of Cash Flow
----------------------------------------------------------------------------
(Expressed in thousands of U.S. dollars)

                               Three Months Ended               Years Ended
                                        March 31,                 March 31,
                        -------------------------- -------------------------
                                2013         2012         2013         2012
----------------------------------------------------------------------------
Cash provided by          (Unaudited)  (Unaudited)
Operating activities
 Net income              $     8,391  $    14,056  $    42,043  $   101,228
 Add (deduct) items not
  affecting cash:
  Unwinding of discount
   of environmental
   rehabilitation                 23           24           92           94
  Depreciation,
   amortization and
   depletion                   2,935        3,758       14,588       13,704
  Share of loss (gain)
   in associate                  (34)         137          197          182
  Impairment on
   associate                       -            -        9,640            -
  Write down of
   inventories                     -            -          348            -
  Income tax expense           3,730        7,657       29,201       45,648
  Loss on investments            980          281        1,651          567
  Loss on disposal of
   plant and equipment            64           20          149          268
  Gain on disposal of
   mineral rights and
   properties                   (644)           -         (644)           -
  Share-based
   compensation                  739          708        2,893        3,094
 Income tax paid              (5,914)     (11,983)     (28,237)     (37,644)
 Changes in non-cash
  operating working
  capital                      4,536       (2,061)      13,877      (13,863)
----------------------------------------------------------------------------
Net cash provided by
 operating activities         14,806       12,597       85,798      113,278
----------------------------------------------------------------------------

Investing activities
 Mineral rights and
  properties
  Capital expenditures       (14,202)     (11,964)     (56,057)     (43,426)
  Proceeds on disposals        1,750            -        1,750            -
 Plant and equipment
  Additions                   (9,056)      (3,984)     (33,531)     (23,385)
  Proceeds on disposals           80          113           80          113
 Other investments
  Acquisition                      -         (944)        (595)      (1,964)
 Reclamation
  expenditures                     -          (47)           -          (47)
 Net redemptions
  (purchases) of short-
  term investments            15,055        2,534       (1,184)      15,993
 Acquisition of
  Zhongxing/Chuanxin
  (net of cash acquired,
  $20)                             -       (2,571)           -      (12,005)
 Acquisition of SX Gold
  (net of cash acquired,
  $554)                            -            -            -      (22,320)
 Changes in long term
  prepaids and deposits       (1,362)      (1,094)      (1,610)      (3,847)
----------------------------------------------------------------------------
Net cash used in
 investing activities         (7,735)     (17,957)     (91,147)     (90,888)
----------------------------------------------------------------------------

Financing activities
 Related parties
  Payments made                 (265)        (135)        (973)      (4,673)
  Repayments received            246           75        1,561          598
 Non-controlling
  interests
  Contribution                     -            -            -        5,519
  Distribution                  (636)           -      (15,248)     (13,804)
 Cash dividends
  distributed                 (4,291)      (4,205)     (17,111)     (14,891)
 Proceeds from issuance
  of common shares                34          308          273        1,304
 Common shares
  repurchased as part of
  normal course issuer
  bid                              -            -            -      (35,380)
----------------------------------------------------------------------------
Net cash used in
 financing activities         (4,912)      (3,957)     (31,498)     (61,327)
----------------------------------------------------------------------------

Effect of exchange rate
 changes on cash and
 cash equivalents               (712)      (1,857)        (830)       1,673
----------------------------------------------------------------------------

Increase (decrease) in
 cash and cash
 equivalents                   1,447      (11,174)     (37,677)     (37,264)

Cash and cash
 equivalents, beginning
 of the period                70,836      121,134      109,960      147,224
----------------------------------------------------------------------------

Cash and cash
 equivalents, end of the
 period                  $    72,283  $   109,960  $    72,283  $   109,960
----------------------------------------------------------------------------
----------------------------------------------------------------------------

SILVERCORP METALS INC.
Mining Data
----------------------------------------------------------------------------
(Expressed in thousands of U.S. dollars, except for mining data figures)

                                     Three months ended March 31, 2013
                               ---------------------------------------------
                                      Ying
                                    Mining
                               District(1)    X Mines(2)       BYP     Total
----------------------------------------------------------------------------

Production Data
 Mine Data
  Ore Mined (tonne)
   Direct Smelting Ore (tonne)       1,309         -             -     1,309
   Stockpiled Ore(tonne)           152,014         - (i)    19,334   171,348
                               ---------------------------------------------
                                   153,323         -        19,334   172,657
                               ---------------------------------------------
  Run of Mine Ore (tonne)
   Direct Smelting Ore(tonne)        1,309         -             -     1,309
   Ore Milled(tonne)               156,836    15,292 (i)    26,228   198,356
                               ---------------------------------------------
                                   158,145    15,292        26,228   199,665
                               ---------------------------------------------

  Mining cost per tonne of ore
   mined ($)                         72.56         -         58.33     70.96
   Cash mining cost per tonne
    of ore mined ($)                 61.67         -         26.35     57.71
   Non cash mining cost per
    tonne of ore mined ($)           10.89         -         31.98     13.25

  Unit shipping costs($)              3.90         -             -      3.47

  Milling cost per tonne of ore
   milled ($)                        18.61         -         13.28     17.86
   Cash milling cost per tonne
    of ore milled ($)                16.05         -         12.17     15.50
   Non cash milling cost per
    tonne of ore milled ($)           2.56         -          1.11      2.36

  Average Production Cost
   Silver($ per ounce)               11.10         -             -     11.63
   Gold ($ per ounce)                  544         -           871       600
   Lead($ per pound)                  0.36         -             -      0.38
   Zinc ($ per pound)                 0.34         -             -      0.36

  Total production cost per
   ounce of Silver ($)                5.82         -                    5.82
  Total cash cost per ounce of
   Silver ($)                         3.65         -                    3.65

  Total production cost per
   ounce of Gold ($)                                           870       870
  Total cash cost per ounce of
   Gold ($)                                                    493       493

  Total Recovery of the Run of
   Mine Ore
   Silver (%)                         93.5         -                    93.5
   Gold (%)                                                   92.0      92.0
   Lead (%)                           94.5         -                    94.5
   Zinc(%)                            60.3         -                    60.3

  Head Grades of Run of Mine
   Ore
   Silver(gram/tonne)                  205         -                     205
   Gold(gram/tonne)                                            3.0       3.0
   Lead (%)                            2.9         -                     2.9
   Zinc (%)                            0.7         -                     0.7

Sales Data
 Metal Sales
  Silver (in thousands of
   ounces)                             933        11 (i)         -       944
  Gold(in thousands of ounces)         0.8         - (i)       1.5       2.3
  Lead(in thousands of pounds)       9,462       365 (i)         -     9,827
  Zinc(in thousands of pounds)       1,554       349 (i)         -     1,903

 Metal Sales
  Silver (in thousands of $)        21,883         -             -    21,883
  Gold (in thousands of $)             921         -         1,938     2,859
  Lead (in thousands of $)           7,277         -             -     7,277
  Zinc(in thousands of $)            1,128         -             -     1,128
                               ---------------------------------------------
                                    31,208         -         1,938    33,147
                               ---------------------------------------------
 Average Selling Price,Net of Value Added
  Tax and Smelter Charges
  Silver($ per ounce)                23.49         -             -     23.49
  Gold ($ per ounce)                 1,151         -         1,285     1,226
  Lead($ per pound)                   0.77         -             -      0.77
  Zinc ($ per pound)                  0.73         -             -      0.73

(1) Ying Mining District includes mines: SGX, TLP, HPG&LM.
(2) X Mines includes the XBG project and XHP project.
(i) Represents development tunnelling ore at the X mines.

SILVERCORP METALS INC.
Mining Data
----------------------------------------------------------------------------
(Expressed in thousands of U.S. dollars, except for mining data figures)

                                     Three months ended March 31, 2012
                               ---------------------------------------------
                                      Ying
                                    Mining
                               District(1)    X Mines(2)       BYP     Total
----------------------------------------------------------------------------

Production Data
 Mine Data
  Ore Mined (tonne)
   Direct Smelting Ore (tonne)       2,761         -             -     2,761
   Stockpiled Ore(tonne)           132,987     3,890 (i)    16,265   153,142
                               ---------------------------------------------
                                   135,748     3,890        16,265   155,903
                               ---------------------------------------------
  Run of Mine Ore (tonne)
   Direct Smelting Ore(tonne)        2,761         -             -     2,761
   Ore Milled(tonne)               133,848         -        23,575   157,423
                               ---------------------------------------------
                                   136,609         -        23,575   160,184
                               ---------------------------------------------

  Mining cost per tonne of ore
   mined ($)                         73.52     68.75 (i)     43.22     70.24
   Cash mining cost per tonne
    of ore mined ($)                 57.62     48.81 (i)     19.24     53.40
   Non cash mining cost per
    tonne of ore mined ($)           15.90     19.95 (i)     23.98     16.84

  Unit shipping costs($)              3.46      3.92 (i)         -      3.46

  Milling cost per tonne of ore
   milled ($)                        19.39         -         15.04     18.75
   Cash milling cost per tonne
    of ore milled ($)                16.84         -         14.58     16.50
   Non cash milling cost per
    tonne of ore milled ($)           2.56         -          0.46      2.25

  Average Production Cost
   Silver($ per ounce)                8.34         -             -      8.34
   Gold ($ per ounce)                  361         -         1,377       424
   Lead($ per pound)                  0.28         -             -      0.28
   Zinc ($ per pound)                 0.22         -             -      0.22

  Total production cost per
   ounce of Silver ($)              (1.84)         -                  (1.84)
  Total cash cost per ounce of
   Silver ($)                       (4.22)         -                  (4.22)

  Total production cost per
   ounce of Gold ($)                                         1,378     1,378
  Total cash cost per ounce of
   Gold ($)                                                    768       768

  Total Recovery of the Run of
   Mine Ore
   Silver (%)                         93.2         -                    93.2
   Gold (%)                                                   87.1      87.1
   Lead (%)                           96.4         -                    96.4
   Zinc(%)                            64.6         -                    64.6

  Head Grades of Run of Mine
   Ore
   Silver(gram/tonne)                  275         -                     275
   Gold(gram/tonne)                                            2.1       2.1
   Lead (%)                            5.2         -                     5.2
   Zinc (%)                            1.4         -                     1.4

Sales Data
 Metal Sales
  Silver (in thousands of
   ounces)                           1,084         -             -     1,084
  Gold(in thousands of ounces)         1.0         -           1.0         2
  Lead(in thousands of pounds)      14,670         -             -    14,670
  Zinc(in thousands of pounds)       2,641         -           249     2,890

 Metal Sales
  Silver (in thousands of $)        27,500         -             -    27,500
  Gold (in thousands of $)           1,125         -         1,396     2,521
  Lead (in thousands of $)          12,366         -             -    12,366
  Zinc(in thousands of $)            1,773         -           152     1,925
                               ---------------------------------------------
                                    42,764         -         1,548    44,312
                               ---------------------------------------------
 Average Selling Price,Net of Value Added
  Tax and Smelter Charges
  Silver($ per ounce)                25.37         -             -     25.37
  Gold ($ per ounce)                 1,165         -         1,367     1,269
  Lead($ per pound)                   0.84         -             -      0.84
  Zinc ($ per pound)                  0.67         -          0.61      0.67

(1) Ying Mining District includes mines: SGX, TLP, HPG&LM.
(2) X Mines includes the XBG project and XHP project.
(i) Represents development tunnelling ore at the X mines.

SILVERCORP METALS INC.
Mining Data
----------------------------------------------------------------------------
(Expressed in thousands of U.S. dollars, except for mining data figures)

                                         Year ended March 31, 2013
                               ---------------------------------------------
                                      Ying
                                    Mining
                               District(1)    X Mines(2)       BYP     Total
----------------------------------------------------------------------------

Production Data
 Mine Data
  Ore Mined (tonne)
   Direct Smelting Ore (tonne)       8,336         -             -     8,336
   Stockpiled Ore(tonne)           768,510    19,309 (i)   109,093   896,912
                               ---------------------------------------------
                                   776,846    19,309       109,093   905,248
                               ---------------------------------------------
  Run of Mine Ore (tonne)
   Direct Smelting Ore(tonne)        8,336         -             -     8,336
   Ore Milled(tonne)               766,198    73,641 (i)   104,090   943,929
                               ---------------------------------------------
                                   774,534    73,641       104,090   952,265
                               ---------------------------------------------

  Mining cost per tonne of ore
   mined ($)                         66.62         -         60.33     65.85
   Cash mining cost per tonne
    of ore mined ($)                 55.94         -         24.30     52.05
   Non cash mining cost per
    tonne of ore mined ($)           10.68         -         36.02     13.80

  Unit shipping costs($)              3.76         -             -      3.30

  Milling cost per tonne of ore
   milled ($)                        15.45         -         14.64     15.36
   Cash milling cost per tonne
    of ore milled ($)                13.56         -         13.54     13.56
   Non cash milling cost per
    tonne of ore milled ($)           1.89         -          1.10      1.80

  Average Production Cost
  Silver($ per ounce)                 9.13         -             -      9.54
   Gold ($ per ounce)                  447         -           888       508
   Lead($ per pound)                  0.31         -             -      0.32
   Zinc ($ per pound)                 0.25         -          0.38      0.26

  Total production cost per
   ounce of Silver ($)                2.45         -                    2.45
  Total cash cost per ounce of
   Silver ($)                         0.48         -                    0.48

  Total production cost per
   ounce of Gold ($)                                           882       882
  Total cash cost per ounce of
   Gold ($)                                                    455       455

  Total Recovery of the Run of
   Mine Ore
   Silver (%)                         92.8         -                    92.8
   Gold (%)                                                   92.4      92.4
   Lead (%)                           94.5         -                    94.5
   Zinc(%)                            66.8         -                    66.8

  Head Grades of Run of Mine
   Ore
   Silver(gram/tonne)                  220         -                     220
  Gold(gram/tonne)                                             3.1       3.1
   Lead (%)                            3.3         -                     3.3
   Zinc (%)                            1.0         -                     1.0

Sales Data
 Metal Sales
  Silver (in thousands of
   ounces)                           4,941        32 (i)         -     4,973
  Gold(in thousands of ounces)         4.2       0.2 (i)       8.1      12.5
  Lead(in thousands of pounds)      52,220     1,678 (i)         -    53,898
  Zinc(in thousands of pounds)      11,171       923 (i)       283    12,377

 Metal Sales
  Silver (in thousands of $)       117,124         -             -   117,124
  Gold (in thousands of $)           4,815         -        10,605    15,420
  Lead (in thousands of $)          41,689         -             -    41,689
  Zinc(in thousands of $)            7,231         -           158     7,389
                               ---------------------------------------------
                                   170,859         -        10,763   181,622
                               ---------------------------------------------
 Average Selling Price,Net of Value Added
  Tax and Smelter Charges
  Silver($ per ounce)                23.71         -             -     23.71
  Gold ($ per ounce)                 1,160         -         1,314     1,238
  Lead($ per pound)                   0.80         -             -      0.80
  Zinc ($ per pound)                  0.65         -          0.56      0.65

(1) Ying Mining District includes mines: SGX, TLP, HPG&LM.
(2) X Mines includes the XBG project and XHP project.
(i) Represents development tunnelling ore at the X mines.

SILVERCORP METALS INC.
Mining Data
----------------------------------------------------------------------------
(Expressed in thousands of U.S. dollars, except for mining data figures)

                                         Year ended March 31, 2012
                               ---------------------------------------------
                                      Ying
                                    Mining
                               District(1)    X Mines(2)       BYP     Total
----------------------------------------------------------------------------

Production Data
 Mine Data
  Ore Mined (tonne)
   Direct Smelting Ore (tonne)      12,599         -             -    12,599
   Stockpiled Ore(tonne)           649,973     3,890 (i)    91,128   744,991
                               ---------------------------------------------
                                   662,572     3,890        91,128   757,590
                               ---------------------------------------------
  Run of Mine Ore (tonne)
   Direct Smelting Ore(tonne)       12,599         -             -    12,599
   Ore Milled(tonne)               654,495    11,667 (i)    83,760   749,922
                               ---------------------------------------------
                                   667,094    11,667        83,760   762,521
                               ---------------------------------------------

  Mining cost per tonne of ore
   mined ($)                         64.70     68.75 (i)     38.00     61.51
   Cash mining cost per tonne
    of ore mined ($)                 51.60     48.81 (i)     16.79     47.40
   Non cash mining cost per
    tonne of ore mined ($)           13.10     19.95 (i)     21.21     14.11

  Unit shipping costs($)              3.34      3.92 (i)         -      3.34

  Milling cost per tonne of ore
   milled ($)                        15.91     22.92 (i)     14.33     15.85
   Cash milling cost per tonne
    of ore milled ($)                14.13     20.11 (i)     13.85     14.19
   Non cash milling cost per
    tonne of ore milled ($)           1.78      2.81 (i)      0.48      1.66

  Average Production Cost
   Silver($ per ounce)                7.14      6.17 (i)         -      7.14
   Gold ($ per ounce)                  281       377 (i)       854       323
   Lead($ per pound)                  0.22      0.22 (i)         -      0.22
   Zinc ($ per pound)                 0.17         -             -      0.17

  Total production cost per
   ounce of Silver ($)              (3.19)   (56.67) (i)              (3.25)
  Total cash cost per ounce of
   Silver ($)                       (5.07)   (60.33) (i)              (5.13)

  Total production cost per
   ounce of Gold ($)                                           844       844
  Total cash cost per ounce of
   Gold ($)                                                    474       474

  Total Recovery of the Run of
   Mine Ore
   Silver (%)                         92.9      50.0                    92.9
   Gold (%)                                                   90.8      90.8
   Lead (%)                           96.0      80.6                    96.0
   Zinc(%)                            68.0         -                    68.0

  Head Grades of Run of Mine
   Ore
   Silver(gram/tonne)                  287        35                     287
   Gold(gram/tonne)                                            2.4       2.4
   Lead (%)                            5.2       2.5                     5.2
   Zinc (%)                            1.4         -                     1.4

Sales Data
 Metal Sales
  Silver (in thousands of
   ounces)                           5,612         6 (i)         -     5,618
  Gold(in thousands of ounces)         3.6       0.1 (i)       5.1       8.8
  Lead(in thousands of pounds)      72,360       444 (i)         -    72,804
  Zinc(in thousands of pounds)      13,500         -           249    13,749

 Metal Sales
  Silver (in thousands of $)       155,961       124 (i)         -   156,085
  Gold (in thousands of $)           4,123       155 (i)     6,749    11,027
  Lead (in thousands of $)          61,164       362 (i)         -    61,526
  Zinc(in thousands of $)            9,172         -           152     9,324
                               ---------------------------------------------
                                   230,420       641         6,901   237,962
                               ---------------------------------------------
 Average Selling Price,Net of Value Added
  Tax and Smelter Charges
  Silver($ per ounce)                27.79     22.51             -     27.78
  Gold ($ per ounce)                 1,147     1,376         1,333     1,257
  Lead($ per pound)                   0.85      0.81             -      0.85
  Zinc ($ per pound)                  0.68         -          0.61      0.68

(1) Ying Mining District includes mines: SGX, TLP, HPG&LM.
(2) X Mines includes the XBG project and XHP project.
(i) Represents development tunnelling ore at the X mines.



FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free 1(888) 224-1881
investor@silvercorp.ca
www.silvercorp.ca




Source: Silvercorp Metals Inc.

Silvercorp to Release Audited Year-End Results for Fiscal 2013 on May 22; Conference Call on May 23

Mon, 06 May 2013 17:05:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2013) - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) will release its audited financial and operating results for the fiscal year ended March 31, 2013 on Wednesday, May 22, 2013 after the close of the market.

An audio replay will be available until May 30, 2013 by calling 1-800-408-3053 toll free or 1-905-694-9451 for calls outside Canada and the U.S. and entering pass code 5618743.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in early 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically. For more information, please visit our website at www.silvercorp.ca.

FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free 1(888) 224-1881
(604) 669-9387 (FAX)
investor@silvercorp.ca
www.silvercorp.ca




Source: Silvercorp Metals Inc.

Silvercorp Reports Underground Diamond Drilling and Tunneling Exploration Results for the Second Half of 2012 at the TLP Mine, Ying Mining District, China

Mon, 15 Apr 2013 17:05:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 15, 2013) - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) is pleased to report the results from its 2012 underground diamond drilling and tunneling exploration programs for the second half of 2012 at the TLP mine, Ying Mining District, Henan Province, China.

Highlights of selected intercepts in drill holes:

--  Hole ZKT0331 intercepted an interval of 1.91 metres ("m"), 1.28m true
    width of vein T33 grading 1,669 grams per tonne ("g/t") silver ("Ag"),
    0.82% lead ("Pb") and 0.29% zinc ("Zn") at the 877m elevation; and an
    interval of 1.11m, 0.74m true width of vein T33E grading 115 g/t Ag,
    0.46% Pb and 0.03% Zn at the 771m elevation;

--  Hole ZKT1731 intercepted an interval of 1.54m, 1.19m true width of vein
    T33E grading 1,016 g/t Ag, 5.48% Pb and 0.80% Zn at the 922m elevation;

--  Hole ZKG0404 intercepted an interval of 3.58m, 2.57m true width of vein
    T16E grading 233 g/t Ag, 1.95% Pb and 0.60% Zn at the 838m elevation,
    including an interval of 0.90m, 0.65m true width grading 702 g/t Ag,
    6.77% Pb and 1.94% Zn; and an interval of 1.67m, 1.22m true width of
    vein T11 grading 1,023 g/t Ag, 6.18% Pb and 0.96% Zn at the 553m
    elevation;

--  Hole ZKG0621 intercepted four veins: an interval of 1.07m, 1.04m true
    width of vein T16E grading 669 g/t Ag, 0.97% Pb and 0.12% Zn at the 838m
    elevation, an interval of 1.13m, 1.10m true width of vein T16E2 grading
    449 g/t Ag, 3.16% Pb and 0.30% Zn at the 806m elevation, an interval of
    0.81m, 0.79m true width of vein T15W1 grading 221 g/t Ag, 0.98% Pb and
    0.13% Zn at the 799m elevation, and an interval of 1.09m, 1.06m true
    width of vein T11 grading 320 g/t Ag, 0.93% Pb and 1.03% Zn at the 729m
    elevation; and

--  Hole ZKG0622 intercepted three veins: an interval of 1.27m, 1.12m true
    width of vein T16E grading 909 g/t Ag, 5.35% Pb and 0.49% Zn at the 837m
    elevation, an interval of 1.59m, 1.26m true width of vein T15W1 grading
    348 g/t Ag, 4.02% Pb and 0.19% Zn at the 770m elevation, and an interval
    of 1.52m, 1.35m true width of vein T15 grading 1,150 g/t Ag, 2.18% Pb
    and 0.10% Zn at the 717m elevation.

The purpose of the 11,916m underground tunneling program in 2012 was to further delineate and upgrade the previous drill-defined resource blocks within major vein structures T1, T1W, T1W1, T1W3, T2, T3, T16, T16W, T22, T33 and T34 between the 510m and the 990m elevations. Drift and crosscut tunnels have been developed at 30m to 50m intervals. A total of 5,619 chip samples were collected. Mineralized zones were exposed in drift tunnels on different levels along the major vein structures.

The 2012 underground diamond drilling program was designed to test the downdip and strike extension of the major mineralized vein structures and to explore for new vein structures. A total of 23,709m in 73 holes was completed and 3,336 core samples were collected. Assay results for 22 holes were received by the end of June 2012 and were reported by the Company on August 27, 2012 via news release.

In the second half of 2012, the Company revised its underground drilling strategy. Instead of focusing on step out drilling at depths below the current mining depth, the Company tested the lateral extensions by conducting in-fill and step-out drilling at shallow depth on the upper portions of the major production vein structures at or above the 700m elevation. As previously reported via news release on February 13, 2013, this strategy has been successful in defining additional high grade mineralization of production veins and discovered several new veins at shallow depth where mine development exits. As of March 10, 2013, assay results for 51 holes had been received. 44 of the 51 holes with new assay results intercepted single or multiple mineralized zones.

Seven new mineralized vein structures, T23, T33W3, T41, T16E1, T16E2, T15W and T15W1 were also discovered as a result of the 2012 underground tunneling and diamond drilling program. A summary of these new vein structures is as follows:

--  Vein structure T15W: T15W is located 10m to 30m parallel to the west of
    vein T15 and the discovery was made by underground drilling from access
    tunnel PD820 at the 820m elevation. The mineralized vein structure has
    been intercepted between the 649m and 796m elevations by 6 holes drilled
    between exploration lines 4 and 6.

--  Vein structure T15W1: T15W1 is located 40m to 70m parallel to the west
    of vein T15 and the discovery was made by underground drilling. The
    mineralized vein structure has been intercepted between the 696m and
    808m elevations by 6 holes drilled between exploration lines 4 and 6.

--  Vein structure T16E1: T16E1 is located 50m to 70m parallel to the east
    of vein T16. The mineralized vein structure has been intercepted between
    the 765m and 828m elevations by 6 holes drilled between exploration
    lines 4 and 6.

--  Vein structure T16E2: T16E2 is located 80m to 90m parallel to the east
    of vein T16. The mineralized vein structure has been intercepted between
    the 735m and 814m elevations by 6 holes drilled between exploration
    lines 4 and 6.

--  Vein structure T23: T23 is located 120m parallel to the east of vein
    T33. Mineralized zones have been intersected by drifting along the vein
    developed on the 930m, 890m and 840m levels between exploration lines 5
    and 11.

--  Vein structure T33W3: T33W3 is located 100m to 120m parallel to the west
    of T33, which was intersected by drifting along the vein at the 800m
    level. A zone of mineralization 105m in length has been defined.

--  Vein structure T41: T41 is located 30m to 40m to the west of vein T27
    and was intersected by a drift tunnel developed on the 930m level. A
    zone of mineralization 40m in length within the vein has been defined.

Tables 1 and 2 below list the assay results of some selected mineralized zones that were exposed in tunnels and via drilling.

In 2013 Silvercorp has planned an exploration and resource development program at the TLP mine consisting of 9,790m of underground tunneling and 14,500m of underground drilling. The goals of the program are: infill drilling of previously defined resource blocks at shallower depths; exploration along strike (lateral) and up dip (shallower) of the extensions of major producing veins; and exploration for parallel vein structures in the hanging wall and footwall of known mineralized veins. Where possible, the program will take advantage of existing underground mine development to access new discoveries and will drive new tunnels as required to provide drill stations in prospective areas beyond the reach of existing mine workings.

Table 1: Selected tunneling results from the TLP Mine

----------------------------------------------------------------------------
                                Length              Weighted Average
                                    of      --------------------------------
                           Mineralized      Horizontal  True
                  Elevation       Zone           Width Width    Ag   Pb   Zn
Tunnel ID               (m)        (m)  Vein       (m)   (m) (g/t)  (%)  (%)
----------------------------------------------------------------------------
PD840-840-T1W3-
 7SYM                   840         40  T1W3      0.52  0.48   451 1.36 0.03
----------------------------------------------------------------------------
PD820-798-T16W-
 12NYM&12SYM            798         55  T16W      0.60  0.56   216 0.71 0.39
----------------------------------------------------------------------------
PD730-730-T34-
 23NYM                  730         65   T34      0.59  0.54   147 4.42 0.27
----------------------------------------------------------------------------
PD840-874-T14-
 21TJ-NYM&SYM           874         55   T14      0.60  0.55   201 1.84 0.32
----------------------------------------------------------------------------
PD820-820-T16-
 10SYM                  820         60   T16      0.44  0.42   176 1.41 0.30
----------------------------------------------------------------------------
PD960-960-T22-0SYM      960         49   T22      0.86  0.84   211 4.95 0.12
----------------------------------------------------------------------------
PD930-930- W3-
 5SYM&NYM               930         80   T23      0.51  0.46   184 2.03 0.22
----------------------------------------------------------------------------
PD890-890-T23-
 11SYM                  890        145   T23      0.75  0.68   264 5.04 0.11
----------------------------------------------------------------------------
PD840-840-T23-7NYM      840         64   T23      0.69  0.62   214 4.80 0.22
----------------------------------------------------------------------------
PD930-930-T33-
 13SYM                  930        245   T33      0.79  0.73   338 1.80 0.28
----------------------------------------------------------------------------
PD930-930-
 T33Branch-
 11SYM&NYM              930        189   T33      0.91  0.84   567 0.67 0.15
----------------------------------------------------------------------------
PD800-800-T33W3-
 19SYM&NYM              800        105 T33W3      0.43  0.41   295 2.67 0.56
----------------------------------------------------------------------------
PD820-691-T16-6SYM      691         65   T16      0.64  0.61   253 3.40 0.13
----------------------------------------------------------------------------

Table 2: Selected drilling results from the TLP Mine

----------------------------------------------------------------------------
                                          True
            From     ToElevationInterval Width    Ag    Pb    Zn Mineralized
Hole ID      (m)    (m)      (m)     (m)   (m) (g/t)   (%)   (%) Vein
----------------------------------------------------------------------------
ZKG0805   226.42 227.07      759    0.65  0.62   178  0.64  0.14 T16E
          277.68  278.1      741    0.42  0.40   192  1.00  0.13 T15-Branch
          289.78 290.21      737    0.43  0.41 1,544  1.48  0.66 T15
----------------------------------------------------------------------------
ZKT0232    79.63  84.29      841    4.66  3.92   187  3.03  0.28 T1W1
----------------------------------------------------------------------------
ZKT0054   329.44 330.58      691    1.14  0.95   149  0.32  0.18 T17W
          437.47 438.69      602    1.22  0.56   440  3.61  0.20 T17
----------------------------------------------------------------------------
ZKG1004   180.01 181.17      698    1.16  0.78   679  3.16  0.70 T16W
          223.44 224.01      665    0.57  0.47 4,534  4.07  0.26 T16
          433.51 433.75      508    0.24  0.22   258  0.14  0.04 T11E
----------------------------------------------------------------------------
ZKT0003   366.78 367.61      473    0.83  0.58 1,052  1.05  0.02 T3
----------------------------------------------------------------------------
ZKG0401     1.13   1.58      838    0.45  0.39   967  4.61  0.26 T16E
           29.01  29.52      828    0.51  0.44   235  5.90  0.13 T16E1
                                                                 T15W1-
           72.61  73.86      812    1.25  1.07   233  4.80  0.12 Branch
           85.58  85.95      808    0.37  0.32    42 13.87  0.46 T15W1
          117.41 118.37      796    0.96  0.82   211  3.80  0.46 T15W
----------------------------------------------------------------------------
ZKT0331    19.93  21.84      877    1.91  1.28 1,669  0.82  0.29 T33
          174.05 175.16      771    1.11  0.74   115  0.46  0.03 T33E
----------------------------------------------------------------------------
ZKG1005   175.15 177.72      678    2.57  0.73   120  1.25  0.20 T17
          230.18 232.14      630    1.96  1.31   176  1.20  0.20 T16W
          469.02 469.78      418    0.76  0.58   158 11.25  4.85 T11E
----------------------------------------------------------------------------
ZKG1801   140.97 141.91      747    0.94  0.81   284  0.45  0.36
----------------------------------------------------------------------------
ZKG0402     0.68   1.71      838    1.03  0.90   411  0.66  0.08 T16E
           92.24  92.91      779    0.67  0.59   101  3.57  0.42 T15W1
          156.78 157.32      738    0.54  0.46   264  4.79  0.06 T15
----------------------------------------------------------------------------
ZKT0332   381.92 382.72      794    0.80  0.51   398  1.19  0.12 T1W1
----------------------------------------------------------------------------
ZKT1001  134.054134.744      722    0.69  0.65   584  1.51  2.18 T1W1
----------------------------------------------------------------------------
ZKG0403      2.6   3.79      836    1.19  0.96   180  2.76  0.20 T16E
           52.75  54.01      794    1.26  1.02    17  3.25  0.32 T16E1
           76.28  78.54      774    2.26  1.83   195  3.96  0.25 T16E2
           107.1 107.86      748    0.76  0.61   150  1.84  0.34 T15W1
                                                                 T15W1-
          131.04 131.64      727    0.60  0.49   132  1.16  0.02 Branch
           159.9 162.04      703    2.14  1.73   121  1.12  0.08 T15W
          218.47 219.45      654    0.98  0.75    15  3.16  0.07 T15E
          283.16 284.53      599    1.37  1.05   126  1.15  0.36 T11
----------------------------------------------------------------------------
ZKG1803   304.27 304.84      539    0.57  0.34   231  0.31  0.18 T11
----------------------------------------------------------------------------
ZKG1601   246.52 247.26      741    0.74  0.53   230  2.29  0.81 T11E
----------------------------------------------------------------------------
ZKT1731   109.29 109.79      939    0.50  0.38   285  0.51  0.07 T1W
          169.86  171.4      922    1.54  1.19 1,016  5.48  0.80 T33E
----------------------------------------------------------------------------
ZKG0404      0.9   4.48      838    3.58  2.57   233  1.95  0.60 T16E
Including    0.9    1.8      838    0.90  0.65   702  6.77  1.94
          220.53 221.07      632    0.54  0.39   119  1.33  0.06 T15
          304.94 306.61      553    1.67  1.22 1,023  6.18  0.96 T11
Including 304.94  305.9      553    0.96  0.70 1,761  9.45  4.30
----------------------------------------------------------------------------
ZKT3904   247.98 249.97      518    1.99  1.97   100  4.07  0.27 T3
----------------------------------------------------------------------------
ZKT1523    88.78  89.47      989    0.69  0.61   217  0.87  0.07 T1W
----------------------------------------------------------------------------
ZKG1602   175.63 176.96      711    1.33  0.93   352  0.57  0.13 T11
          258.32  260.5      653    2.18  1.53   274  1.04  0.40 T11E
----------------------------------------------------------------------------
ZKG0621     1.38   2.45      838    1.07  1.04   669  0.97  0.12 T16E
Including   1.38   1.75      838    0.37  0.36 1,302  2.61  0.33
           61.79  62.92      806    1.13  1.10   449  3.16  0.30 T16E2
           75.08  75.89      799    0.81  0.79   221  0.98  0.13 T15W1
                                                                 T15W1-
           88.82  89.53      791    0.71  0.69   108  0.42  1.12 Branch
          207.61  208.7      729    1.09  1.06   320  0.93  1.03 T11
----------------------------------------------------------------------------
ZKG2021   148.78 150.11      768    1.33  1.30   127  1.40  0.21 T11
----------------------------------------------------------------------------
ZKT1732   202.53 203.67      951    1.14  0.99   323  0.30  0.35 T33-Branch
          255.25 256.06      947    0.81  0.70   112  0.23  0.13 T33W
----------------------------------------------------------------------------
ZKG0622     2.29   3.56      837    1.27  1.12   909  5.35  0.49 T16E
Including   2.29   3.04      837    0.75  0.65 1,543  9.10  0.83
           84.27  85.86      770    1.59  1.26   348  4.02  0.19 T15W1
          149.92 151.44      717    1.52  1.35 1,150  2.18  0.10 T15
----------------------------------------------------------------------------
ZKT0521   211.94 213.04      851    1.10  0.94   158  3.05  0.21 T14
          335.52 336.56      807    1.04  0.89   117  0.43  0.11 T17
----------------------------------------------------------------------------
ZKG0623   129.31 131.26      718    1.95  0.74    56  4.66  0.14 T15W1
          214.39 216.75      639    2.36  1.20   115  0.57  0.07 T15
----------------------------------------------------------------------------
ZKG0221    66.94  68.25      810    1.31  0.99    31  0.95  0.08 T16E1
          149.21 154.85             5.64  4.27   146  0.98  0.22 T15W
----------------------------------------------------------------------------
ZKT4307   150.09 152.04      488    1.95  1.58   145  0.41  0.11 T1W
----------------------------------------------------------------------------
ZKG1603   318.34 319.95      546    1.61  0.98   113  0.13  0.14 T11E
----------------------------------------------------------------------------
ZKG0806    71.92  73.56      798    1.64  1.23   285  1.29  0.23 T17
          178.73 179.69      743    0.96  0.78    37  0.56  0.08 T16
          363.55 367.36      650    3.81  3.31   194  4.09  0.78 T11
----------------------------------------------------------------------------

Quality Control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contact or shear/alteration contact, were split into halves by saw cutting. The half cores are stored in the Company's core shacks for future reference and checking, and the other half of the core samples are shipped in security sealed bags to the Chengde Huakan 514 Geology and Minerals Testing and Research Institute, an ISO9000 certified analytical lab in Chengde, China, 226 km northeast of Beijing. For analysis the sample is dried and crushed to minus 1mm and then split to a 200-300g subsample which is further pulverized to minus 200 mesh. Two subsamples are prepared from the pulverized sample. One is digested with aqua regia for gold analysis with AAS, and the other is digested with two-acids for analysis of silver, lead, zinc and copper.

Chip samples are collected along sample lines perpendicular to the mineralized vein structure in exploration tunnels. Spacing between sampling lines is typically 5m along strike. Both the mineralized vein and the altered wall rocks are cut with continuous chisel chipping. Sample length ranges from 0.2m to more than 1m, depending on the width of the mineralized vein and the mineralization type.

A routine quality assurance/quality control procedure is adopted at each lab to monitor the analytical quality at the lab. Certified reference materials (CRM), pulp duplicates and blanks are inserted into each lab batch of samples. QA/QC data at the lab are attached to the assay certificates for each batch of samples.

The Company maintains its own comprehensive quality assurance and quality control program to ensure best practice in sample preparation and analysis of the drill core samples. Project geologists regularly insert CRM, field duplicates and blanks to each batch of core samples to monitor the sample preparation and analysis procedures at the labs. The analytical quality of the labs is further evaluated with external checks by sending about 3% of the pulp samples to higher level labs to check for lab bias.

Data from both the Company's and the labs' QA/QC programs are reviewed on a timely basis by project geologists.

Rujin Jiang , P. Geo., is the Qualified Person on the project as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of under developed small-scale projects with resource potential and self-fund the growth of those assets. For more information, please visit our website at www.silvercorp.ca.

CAUTIONARY DISCLAIMER -- FORWARD LOOKING STATEMENTS

FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free: 1(888) 224-1881
(604) 669-9387 (FAX)
investor@silvercorp.ca
www.silvercorp.ca




Source: Silvercorp Metals Inc.

Silvercorp Responds to Recent Press Article About the Company

Wed, 03 Apr 2013 08:30:00 -0400

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 3, 2013) - Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) ("Silvercorp" or the "Company") has noted an article published in the media on April 2, 2013, regarding a subpoena the Company recently received from the U.S. Securities and Exchange Commission (the "SEC"). The article identifies some, but not all, of the individuals and entities referenced in the subpoena. The following is a quotation from the subpoena setting forth the documents and information it seeks:

"III. Documents and information requested

1.  Any and all documents relating to any and all allegations made by
    Anthion Management LLC (a/k/a chinastockwatch.com), alfredlittle.com,
    EOS Holdings LLC, Balizar Inc., International Financial Research &
    Analysis Group (a/k/a IFRA), Muddy Waters Research, Oasis Capital
    Management, Quantum Asset Partners, Gems Capital Management, Jon Carnes
    (a/k/a Alfred Little, Andrew Wong, Robert Steven), Loren Weinberg (a/k/a
    Simon Moore, Tyler Jacobs), Kun Huang (a/k/a Dino Huang, Huang Biqiang),
    Huang Xiaofu (a/k/a Jeff Huang), Carson Block, Alexander Shoghi or Shawn
    Rhynes against Silvercorp (collectively, "Allegations"), including:

    a.  Any and all documents Silvercorp created, originated or otherwise
        relating to the Allegations; and

    b.  Any and all documents discovered or produced by any party in the
        civil litigation, Silvercorp Metals Inc. v. Anthion Management LLC,
        et al., No. 150374/2011 (J. Edmead), in the Supreme Court of the
        State of New York, County of New York."

The Company is cooperating fully with the SEC on the matter.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of small-scale projects with resource potential and self-fund the growth of those assets. For more information, please visit our website at www.silvercorp.ca.

CAUTIONARY DISCLAIMER -- FORWARD LOOKING STATEMENTS

FOR FURTHER INFORMATION PLEASE CONTACT:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free 1(888) 224-1881
investor@silvercorp.ca
www.silvercorp.ca




Source: Silvercorp Metals Inc.

Silvercorp Provides Update Regarding Defamation Case and Class Action

Wed, 13 Mar 2013 17:05:00 -0400

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 03/13/13 -- Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) today announced that the appeal filed by the Company following the granting of the motion to dismiss the defamation case filed by Silvercorp in the fall of 2011 has been withdrawn.

While Silvercorp disagrees with the decision of Justice Edmead - that "short and distort" publications are statements of opinion and not statements of purported fact (in other words the defendants simply had the freedom to express their opinions pursuant to their constitutional rights), Silvercorp believes it is in the best interest of the Company and its shareholders to end this potentially lengthy and expensive litigation, and continue to focus its efforts on developing the GC project while improving and upgrading its existing operations to deliver long-term shareholder value.

With respect to the current class action lawsuit filed in December 2012 against the Company by certain individual shareholders, as per the news release of January 24, 2013, it is the Company's belief that there is no merit to the allegations set out in the class action lawsuits since they are based on previously made false accusations and as such represent nothing new. Should the class action be certified and proceed, the Company will defend itself accordingly. The Company has retained Latham & Watkins LLP in New York as its defence counsel.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of small-scale projects with resource potential and self-fund the growth of those assets. For more information, please visit our website at www.silvercorp.ca.

CAUTIONARY DISCLAIMER -- FORWARD LOOKING STATEMENTS

Contacts:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free 1(888) 224-1881
(604) 669-9387 (FAX)
investor@silvercorp.ca
www.silvercorp.ca

Source: Silvercorp Metals Inc.

Silvercorp Intercepts 33.29 Metres True Width Grading 151 g/t Silver, 0.68 Percent Lead, 1.51 Percent Zinc, and 0.30 Percent Tin at Its GC Project

Wed, 20 Feb 2013 17:30:00 -0500

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/20/13 -- Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) is pleased to report results from the ongoing infill and step-out drilling exploration program at the GC silver-lead-zinc project located in Guangdong Province, China including the discovery of several new mineralized veins.

Highlights of selected intercepts and discoveries:

--  Hole CK2102 intercepted 49.65 metres ("m"), 33.29m true width at the -9m
    elevation of vein V2 grading 151 grams per tonne ("g/t") silver ("Ag"),
    0.68% lead ("Pb"), 1.51% zinc ("Zn") and 0.30% tin ("Sn"), including an
    interval of 4.81m, 3.42m true width at the -23m elevation grading 525
    g/t Ag, 2.06% Pb, 1.99% Zn and 0.87% Sn;

--  Hole CK1831 intercepted 3.85m, 3.50m true width at the 39m elevation of
    vein V2 grading 460 g/t Ag, 1.20% Pb, 2.95% Zn and 0.86% Sn, including
    an interval of 1.30m, 1.18m true width at the 39m elevation grading 923
    g/t Ag, 0.21% Pb, 1.35% Zn and 1.84% Sn;

--  Hole CK2410 intercepted 3.88m, 3.76m true width at the 107m elevation of
    vein V15-1 grading 609 g/t Ag, 0.41% Pb, 0.56% Zn and 0.03% Sn,
    including an interval of 1.16m, 1.13m true width at the 107m elevation
    grading 698 g/t Ag, 0.63% Pb, 0.79% Zn and 0.03% Sn;

--  Hole CK10450 intercepted 7.84m, 5.76m true width of vein V28 at the 97m
    elevation grading 359 g/t Ag, 1.55% Pb, 1.09% Zn and 0.03% Sn; and

--  Hole CK2001 intercepted 3.15m, 2.76m true width at the 47m elevation of
    vein V9W-2 grading 441 g/t Ag, 3.29% Pb, 5.71% Zn and 0.16% Sn,
    including an interval of 1.40m, 1.23m true width at the 46m elevation
    grading 661 g/t Ag, 4.80% Pb, 5.98% Zn and 0.27%Sn. 

--  Discovery of new veins V25, V26, V28 as well several other new veins
    (referred to as "New" in tables 1 and 2 below) which have not yet been
    named.

The purpose of the 2012 GC project surface and underground drilling program was to upgrade the classification of the known resource blocks and further define and extend known vein structures in preparation for mining in 2013.

Using two underground drill rigs to achieve a drill spacing of approximately 25m by 25m, drilling of V2 was focused on an area 300m in length from mine section lines 10 through 30 and 150m in vertical depth from the 100m elevation down to the -75m elevation. Access to V2 at the 20m elevation was gained via the main ramp and existing cross-cuts. In March 2013 Silvercorp expects to have an additional access point to V2 when the exploration ramp reaches the -50 m elevation. Present drill results (as evidenced by drill hole CK2102) indicate that V2 is a thick, continuous zone that would be amenable to bulk tonnage mining. In addition to its thickness, V2 also contains high-grade silver and tin mineralization. For example drill hole CK1831 intercepted 3.50m true width grading 460 g/t Ag, 1.20% Pb, 2.95% Zn and 0.86% Sn at the 39m elevation. As noted in the Company's news release of November 19, 2012, the presence of tin is expected to enhance the economics of the GC project.

Drilling of the V9 vein group (V9, V9-1, V9W1 and V9W-2 veins) was conducted in an area 400m in length from mine section lines 14 through 32 and 150m in vertical depth between the 0m elevation and the 150m elevation using three underground drill rigs. Access to the V9 vein group was achieved via the exploration ramp with existing drifts and cross-cuts at elevations of 150m, 100m, 50m and 0m.

In addition to the V2 and the V9 vein groups, drilling has also further defined vein groups V5, V6, V8, V13, V14 and V15. Veins V25, V26, and V28 are new discoveries. Assay results have been received for 97 drill holes totaling 7,037m of drilling. Additional assays results for twelve holes are pending. In 2013, Silvercorp plans to continue with its infill and step-out drilling program at the GC project and currently has five underground drill rigs and two surface drill rigs on site.

The following tables are highlights of selected intercepts from the V2 and the V9 vein groups including intersections from potential veins and new discoveries at the GC project. To view longitudinal sections, visit the following link: http://www.silvercorpmetals.com/projects/gc-project/longsections

Table 1: Selected Intercepts from the GC project                            

----------------------------------------------------------------------------
                         Sample    True                                     
Drill       From      To Length   Width Elev-    Ag    Pb    Zn    Sn       
Hole         (m)     (m)    (m)     (m) ation (g/t)   (%)   (%)   (%)   Vein
----------------------------------------------------------------------------
CK1831     89.90   93.75   3.85    3.50    39   460  1.20  2.95  0.86     V2
----------------------------------------------------------------------------
including  89.90   91.20   1.30    1.18    39   923  0.21  1.35  1.84       
----------------------------------------------------------------------------
including  91.20   92.50   1.30    1.18    38   247  2.16  6.18  0.43       
----------------------------------------------------------------------------
CK2102    141.49  191.14  49.65   33.29    -9   151  0.68  1.51  0.30     V2
----------------------------------------------------------------------------
including 160.32  165.13   4.81    3.42   -23   525  2.06  1.99  0.87       
----------------------------------------------------------------------------
including 172.37  175.38   3.01    2.00   -32   542  0.90  4.24  1.45       
----------------------------------------------------------------------------
ZK1210    220.51  229.87   9.36    4.68   -88    97  1.35  3.67  0.11     V6
----------------------------------------------------------------------------
including 225.11  226.34   1.23    0.61   -93   221  6.34  4.16  0.03       
----------------------------------------------------------------------------
CK2002    500.55  507.23   6.68    5.37  -261   246  2.41  4.33  0.57   V7-0
----------------------------------------------------------------------------
including 503.26  504.53   1.27    1.03  -263   555  0.38  2.66  1.81       
----------------------------------------------------------------------------
including 504.53  505.83   1.30    1.05  -264   331  4.11  9.73  0.51       
----------------------------------------------------------------------------
including 505.83  507.23   1.40    1.13  -265   302  7.16  8.19  0.23       
----------------------------------------------------------------------------
CK1000A    31.14   32.59   1.45    1.36   112   691  0.34  0.46  0.02     V9
----------------------------------------------------------------------------
including  32.14   32.59   0.45    0.42   112  2190  1.04  1.42  0.06       
----------------------------------------------------------------------------
CK1810    238.93  242.62   3.69    3.02     6   400  6.09  3.21  0.14     V9
----------------------------------------------------------------------------
including 241.59  242.62   1.03    0.84     4  1020 16.80  5.11  0.14       
----------------------------------------------------------------------------
CK1851    116.63  119.41   2.78    2.47   108   677  0.98  2.55  0.14     V9
----------------------------------------------------------------------------
CK1852    107.81  109.97   2.16    1.45    68   347  0.18  8.38  0.07  V9W-2
----------------------------------------------------------------------------
CK2001    172.64  175.79   3.15    2.76    47   441  3.29  5.71  0.16  V9W-2
----------------------------------------------------------------------------
including 174.39  175.79   1.40    1.23    46   661  4.80  5.98  0.27       
----------------------------------------------------------------------------
CK2410    139.21  143.09   3.88    3.76   107   609  0.41  0.56  0.03  V15-1
----------------------------------------------------------------------------
including 139.21  140.37   1.16    1.13   107   698  0.63  0.79  0.03       
----------------------------------------------------------------------------
including 140.37  141.42   1.05    1.02   106  1250  0.67  0.86  0.05       
----------------------------------------------------------------------------
CK2613    161.57  162.72   1.15    1.11   104   364  1.24  0.96  0.03  V15-1
----------------------------------------------------------------------------
ZK10303   133.10  140.70   7.60    3.96    27   189  5.79  3.41  0.18    V28
----------------------------------------------------------------------------
including 137.60  139.60   2.00    1.04    22   647 20.00  7.56  0.43       
----------------------------------------------------------------------------
CK10450     8.71   16.55   7.84    5.76    97   359  1.55  1.09  0.03    V28
----------------------------------------------------------------------------
including   8.71    9.77   1.06    0.78    97   538  7.51  3.45  0.08       
----------------------------------------------------------------------------
including  14.96   16.55   1.59    1.17    95  1140  2.13  1.11  0.03       
----------------------------------------------------------------------------
ZK10623   154.75  156.08   1.33    1.07    18   226  5.80  3.80  0.20    V28
----------------------------------------------------------------------------
CK10650     6.76    8.06   1.30    0.95    97   491  1.98  1.42  0.07    V28
----------------------------------------------------------------------------
ZK10622    37.85   42.00   4.15    2.94   131   157  0.14  0.47  0.03    New
----------------------------------------------------------------------------
ZK10703   151.95  153.50   1.55    1.14    22   301  6.27  5.09  0.23    New
----------------------------------------------------------------------------
CK10850    15.79   23.61   7.82    5.16    87    99  0.02  5.21  0.32    New
----------------------------------------------------------------------------
CK2550     91.34   93.85   2.51    2.26   104   614  1.19  0.45  0.08    New
----------------------------------------------------------------------------
including  91.34   92.54   1.20    1.08   104  1130  2.32  0.56  0.03       
----------------------------------------------------------------------------
CK2613    304.48  306.77   2.29    2.20    50   231  3.89  2.77  0.12    New
----------------------------------------------------------------------------
including 305.86  306.77   0.91    0.87    50   562  9.63  6.36  0.24       
----------------------------------------------------------------------------


Table 2: Assay Results in Addition to Table 1                               

----------------------------------------------------------------------------
                         Sample  True                                       
Drill       From      To Length Width   Elev-    Ag    Pb    Zn    Sn       
Hole         (m)     (m)    (m)   (m)   ation (g/t)   (%)   (%)   (%)   Vein
----------------------------------------------------------------------------
CK800B     53.50   56.11   2.61  1.31      63   103  0.25  0.47  0.02    V23
----------------------------------------------------------------------------
CK1000C     3.49    4.92   1.43  1.15     108    51  0.08  1.00  0.14    New
----------------------------------------------------------------------------
ZK1011    127.12  128.20   1.08  1.02     127    85  3.96  2.86  0.28     V6
----------------------------------------------------------------------------
ZK1011    143.93  145.09   1.16  1.10     144   147  1.70  1.89  0.12    New
----------------------------------------------------------------------------
CK1100     35.66   37.38   1.72  1.16      68   115  2.76  0.65  0.06    New
----------------------------------------------------------------------------
CK1100     42.88   50.97   8.09  5.44      62    50  0.22  1.10  0.11     V7
----------------------------------------------------------------------------
including  49.90   50.97   1.07  0.72      56   215  0.69  5.47  0.26       
----------------------------------------------------------------------------
ZK1110    119.25  122.15   2.90  2.35      43   253  0.46  0.22  0.01     V6
----------------------------------------------------------------------------
ZK1111    137.16  139.05   1.89  1.22     139   173  0.24 12.55  0.13    New
----------------------------------------------------------------------------
ZK1210    220.51  229.87   9.36  4.68     -88    97  1.35  3.67  0.11     V6
----------------------------------------------------------------------------
including 225.11  226.34   1.23  0.61     -93   221  6.34  4.16  0.03       
----------------------------------------------------------------------------
CK1215     27.24   28.83   1.59  1.40      84   210  0.89  0.63  0.09     V7
----------------------------------------------------------------------------
CK1450     81.76   83.46   1.70  1.36      73   176  1.44  0.50  0.02  V9W-1
----------------------------------------------------------------------------
CK1550    106.13  107.73   1.60  1.43      58   122  0.75  1.09  0.03  V9W-2
----------------------------------------------------------------------------
CK1702     59.01   62.51   3.50  2.96      59    86  0.68  1.13  0.06     V2
----------------------------------------------------------------------------
including  61.91   62.51   0.60  0.51      57   226  2.36  2.87  0.28       
----------------------------------------------------------------------------
CK1703     53.30   54.91   1.61  0.80      48   103  0.08  1.36  0.02   V2-1
----------------------------------------------------------------------------
CK1703    115.59  118.13   2.54  1.26     -12   148  0.16  0.50  0.44     V2
----------------------------------------------------------------------------
including 115.59  117.29   1.70  0.84     -12   209  0.26  0.65  0.62       
----------------------------------------------------------------------------
CK1750    139.24  140.74   1.50  1.28      44    91  0.46  2.25  0.12    New
----------------------------------------------------------------------------
CK1752    186.26  187.83   1.57  1.09      -2    70  0.17  7.18  0.11     V9
----------------------------------------------------------------------------
CK1810    146.63  148.22   1.59  1.30      63   102  0.19  0.87  0.06  V9W-2
----------------------------------------------------------------------------
CK1831     81.24   82.44   1.20  1.09      45   106  0.04  1.02  0.30     V2
----------------------------------------------------------------------------
CK1902    143.95  156.10  12.15  7.14     -32    80  1.93  2.78  0.15     V2
----------------------------------------------------------------------------
CK2001    161.47  164.87   3.40  2.01      54   104  0.12  1.41  0.01   V9-1
----------------------------------------------------------------------------
CK2001    214.38  215.83   1.45  1.27      21    74  0.07  1.32  0.11  V9W-1
----------------------------------------------------------------------------
CK2002    156.15  158.27   2.12  1.72      26   158  0.37  1.37  0.07    New
----------------------------------------------------------------------------
including 157.15  158.27   1.12  0.91      25   204  0.59  0.88  0.05       
----------------------------------------------------------------------------
CK2002    163.32  165.96   2.64  2.14      20   215  0.77  1.49  0.30    New
----------------------------------------------------------------------------
including 164.24  165.24   1.00  0.81      19   423  1.47  2.27  0.32       
----------------------------------------------------------------------------
CK2002    192.25  195.73   3.48  2.82      -3    61  0.02  3.68  0.05  V9W-2
----------------------------------------------------------------------------
CK2015     43.22   44.19   0.97  0.93     132 2,260  1.18  3.27  0.11  V15-0
----------------------------------------------------------------------------
CK2051    239.40  240.90   1.50  1.33       9    93  0.41  2.04  0.06    New
----------------------------------------------------------------------------
CK2051    287.20  288.90   1.70  1.50     -20    71  0.21  2.55  0.10    New
----------------------------------------------------------------------------
CK2201    154.25  155.80   1.55  1.02     105   147  0.50  0.47  0.06    New
----------------------------------------------------------------------------
CK2212     52.00   54.91   2.91  2.67     129   139  0.06  0.16  0.02  V15-1
----------------------------------------------------------------------------
CK2212    252.27  252.90   0.63  0.58      35   101  0.04  0.27  0.07     V9
----------------------------------------------------------------------------
CK2251    122.87  124.22   1.35  0.78     -18   100  0.52  1.80  0.37    New
----------------------------------------------------------------------------
CK2251    167.74  169.01   1.27  0.73     -60   140  0.30  1.45  0.34    New
----------------------------------------------------------------------------
CK2251    176.88  181.38   4.50  2.60     -69    99  1.11  2.61  0.31    New
----------------------------------------------------------------------------
CK2301     71.68   75.53   3.85  9.25      79    71  1.15  1.82  0.07     V2
----------------------------------------------------------------------------
CK2302     78.41   83.02   4.61  4.30      48    88  2.20  3.35  0.13     V2
----------------------------------------------------------------------------
CK2302    149.88  153.18   3.30  3.08       3    77  0.12  0.42  0.25    New
----------------------------------------------------------------------------
CK2350    174.66  176.89   2.23  2.16     100    80  0.54  0.63  0.09    V15
----------------------------------------------------------------------------
CK2350    239.71  241.02   1.31  1.27      75   208  0.09  1.48  0.09    V14
----------------------------------------------------------------------------
CK2351    260.93  264.63   3.70  3.44      55    89  0.26  0.82  0.13     V9
----------------------------------------------------------------------------
including 263.71  264.63   0.92  0.86      54   294  1.01  1.48  0.33       
----------------------------------------------------------------------------
CK2410    226.49  227.49   1.00  0.97      69   248  0.24  7.08  0.15    New
----------------------------------------------------------------------------
CK2410    292.30  293.34   1.04  1.01      40   113  0.11  0.86  0.08  V9W-1
----------------------------------------------------------------------------
CK2425     72.84   79.56   6.72  6.38      63    64  0.33  2.42  0.14    New
----------------------------------------------------------------------------
CK2428     58.15   59.73   1.58  1.34      60    80  0.81  2.76  0.11    New
----------------------------------------------------------------------------
CK2550     79.02   81.82   2.80  2.52     111    80  0.04  1.37  0.09    New
----------------------------------------------------------------------------
CK2551     36.86   37.96   1.10  0.73     122   309  0.08  7.37  0.08    New
----------------------------------------------------------------------------
CK2551    123.05  124.35   1.30  0.87      46    72  0.03  2.41  0.07  V9W-1
----------------------------------------------------------------------------
CK2613    274.56  275.22   0.66  0.64      60   153  1.33  4.90  0.13    New
----------------------------------------------------------------------------
CK2650     69.85   71.75   1.90  1.48     123   114  0.04  0.80  0.07  V9W-2
----------------------------------------------------------------------------
CK2650    121.13  126.03   4.90  3.81     101    57  0.01  3.82  0.21    New
----------------------------------------------------------------------------
CK2805    127.64  127.84   0.20  0.10      56   156  6.55  5.18  0.00    New
----------------------------------------------------------------------------
                                                                         V8-
CK2805    184.41  184.96   0.55  0.28       6    55  1.25  1.65  0.01 Branch
----------------------------------------------------------------------------
                                                                        V15-
CK2805    316.12  319.49   3.37  1.63    -110   131  3.83  3.73  0.39 Branch
----------------------------------------------------------------------------
including 316.12  317.14   1.02  0.49    -110   226  5.37  5.39  0.32       
----------------------------------------------------------------------------
ZK28001     7.44    8.64   1.20  1.04      98    25  0.02  5.20  0.29     V2
----------------------------------------------------------------------------
ZK28001    28.12   29.02   0.90  0.78      84    24  0.02  4.06  0.05   V2-1
----------------------------------------------------------------------------
ZK28A01    10.98   12.76   1.78  1.14      93    44  0.14  5.29  0.17    New
----------------------------------------------------------------------------
ZK28A01    35.96   37.53   1.57  1.01      70     8  0.02  1.23  0.45    New
----------------------------------------------------------------------------
ZK28A01   103.68  108.40   4.72  3.02       6    21  0.07  1.87  0.12    New
----------------------------------------------------------------------------
CK2950     63.65   70.99   7.34  5.09      75    43  0.52  1.42  0.06  V9W-2
----------------------------------------------------------------------------
CK2950     93.42   94.96   1.54  1.12      68    31  0.05  2.09  0.02    New
----------------------------------------------------------------------------
CK2950    112.46  123.22  10.76  7.86      63    56  0.10  2.73  0.12    New
----------------------------------------------------------------------------
including 112.46  113.86   1.40  1.02      63   269  0.37 10.20  0.53       
----------------------------------------------------------------------------
CK2951     71.57   72.98   1.41  1.16      56   101  0.03  2.49  0.23  V9W-2
----------------------------------------------------------------------------
                                                                         V5-
CK3005     27.02   29.20   2.18  2.07      81    83  1.82  2.04  0.06 Branch
----------------------------------------------------------------------------
CK3005     50.37   51.27   0.90  0.85      73    36  0.03  3.38  0.04     V5
----------------------------------------------------------------------------
CK3005     98.12   99.33   1.21  1.15      55   114  1.55  0.82  0.03   V5-1
----------------------------------------------------------------------------
CK3050     45.09   51.90   6.81  6.17      64    74  1.63  1.72  0.08    New
----------------------------------------------------------------------------
CK3051    154.25  156.05   1.80  1.39     -35   228  0.21  0.24  0.03  V9W-2
----------------------------------------------------------------------------
CK3202      9.53   10.30   0.77  0.70      85    53  0.01  9.80  0.23     V9
----------------------------------------------------------------------------
CK3202     30.05   31.02   0.97  0.88      71    67  0.24  7.34  0.20     V5
----------------------------------------------------------------------------
CK3202    191.75  196.49   4.74  4.36     -35    99  0.05  0.57  0.07     V2
----------------------------------------------------------------------------
including 192.95  193.61   0.66  0.60     -36   450  0.24  0.81  0.16       
----------------------------------------------------------------------------
CK3250     97.24   98.06   0.82  0.74      52    60  0.01  5.36  0.12   V5-1
----------------------------------------------------------------------------
CK3251     54.92   57.93   3.01  2.61      56    79  0.11  2.77  0.06  V9W-2
----------------------------------------------------------------------------
including  93.50   94.83   1.33  1.15      89   231  4.11  9.61  0.19    V28
----------------------------------------------------------------------------
ZK10202   113.20  117.45   4.25  2.46      50    54  0.41  3.92  0.15    V28
----------------------------------------------------------------------------
ZK10301    47.95   51.07   3.12  2.81     122    34  1.28  3.61  0.22    New
----------------------------------------------------------------------------
ZK10302    53.54   55.40   1.86  0.72     108    64  1.00  3.29  0.29    New
----------------------------------------------------------------------------
ZK10302   111.60  120.40   8.80  3.40      55   101  1.74  3.48  0.10    V28
----------------------------------------------------------------------------
including 116.00  117.00   1.00  0.39      51   489  6.80  6.20  0.26    V28
----------------------------------------------------------------------------
ZK10401   120.04  124.15   4.11  3.72      80    67  1.01  2.56  0.10    New
----------------------------------------------------------------------------
ZK10401   148.43  149.43   1.00  0.91      60    81  0.66  2.03  0.05    V28
----------------------------------------------------------------------------
ZK10410   112.55  113.20   0.65  0.46      69   119  0.01 14.85  0.23    New
----------------------------------------------------------------------------
ZK10411   174.20  178.35   4.15  2.99       2   107  1.80  2.49  0.29    V28
----------------------------------------------------------------------------
CK10450   172.47  174.07   1.60  1.17      44    94  1.58  2.54  0.11    New
----------------------------------------------------------------------------
CK10450   195.66  197.24   1.58  1.16      36   107  0.04  1.29  0.22    New
----------------------------------------------------------------------------
ZK10521    94.57   95.92   1.35  0.96      84    41  0.01  7.06  0.06    New
----------------------------------------------------------------------------
ZK10521   129.05  136.21   7.16  5.08      55   123  1.61  3.87  0.16    New
----------------------------------------------------------------------------
including 133.90  135.00   1.10  0.78      51   397  3.08 13.20  0.54    New
----------------------------------------------------------------------------
including 135.00  136.21   1.21  0.86      50   229  5.93  9.05  0.28    New
----------------------------------------------------------------------------
ZK10522    31.60   33.60   2.00  1.49     134   181  0.04  1.68  0.02    New
----------------------------------------------------------------------------
ZK10522   197.73  199.46   1.73  1.29     -23   101  6.82  2.24  0.01    V28
----------------------------------------------------------------------------
CK10550     8.33    9.27   0.94  0.69      97    89  1.25  1.44  0.07    New
----------------------------------------------------------------------------
CK10550    14.47   18.81   4.34  3.19      95   144  1.10  3.14  0.06    V28
----------------------------------------------------------------------------
including  14.47   15.20   0.73  0.54      95   256  0.59  1.04  0.09    V28
----------------------------------------------------------------------------
including  16.00   16.96   0.96  0.70      94   237  2.50  7.26  0.10    V28
----------------------------------------------------------------------------
CK10550   154.99  159.82   4.83  3.55      51    50  1.18  1.65  0.02    V26
----------------------------------------------------------------------------
CK10550   181.42  182.59   1.17  0.86      43   114  2.55  2.13  0.06    V25
----------------------------------------------------------------------------
ZK10621   125.70  129.60   3.90  1.79      65    99  1.05  3.96  0.07    V28
----------------------------------------------------------------------------
ZK10622    80.55   81.65   1.10  0.78      94    63  0.03  3.80  0.09    New
----------------------------------------------------------------------------
ZK10622   102.93  104.13   1.20  0.85      74    97  0.29  0.62  0.02    New
----------------------------------------------------------------------------
ZK10623   102.86  104.11   1.25  1.01      67    62  0.01  3.95  0.17    New
----------------------------------------------------------------------------
ZK10623   182.09  183.06   0.97  0.78      -8   105  1.20  4.10  0.07    New
----------------------------------------------------------------------------
CK10650    21.54   26.17   4.63  3.40      92    86  1.32  0.66  0.08    New
----------------------------------------------------------------------------
ZK10704    84.00   85.35   1.35  1.14     104   243  0.23  0.77  0.05    New
----------------------------------------------------------------------------
CK10820    21.33   27.36   6.03  5.35      80    62  0.03  3.85  0.14    New
----------------------------------------------------------------------------
CK10820    87.43   88.97   1.54  1.37      43    84  0.54  2.47  0.07    New
----------------------------------------------------------------------------

Quality Control

Drill cores are in NQ size. Drill core samples, from 1.00m to 1.50m in length, or limited by apparent mineralization contact or shear/alteration contact, were split into halves by saw cutting. One half of the cores are stored in the Company's core shacks for future reference and checking and the other remaining samples are shipped in security sealed bags to ALS Chemex in Guangzhou, China (Certification ISO 9001), located approximately 180km southeast of the GC project site for sample preparation and assay.

Sample preparation consists of drying, crushing and splitting of samples to 250 grams and then they are pulverized to 200 mesh. Silver, lead, and zinc in drill core samples were analyzed by aqua regia digestion and AAS finish. Tin was analyzed by fusing with peroxide then by leaching the melt and acidifying to precipitate the tin for AAS finish.

The Company maintains a comprehensive quality assurance and quality control program to ensure best practices in sample preparation and analysis of the drill core samples. Project geologists regularly insert certified reference materials (CRM), field duplicates and blanks to each batch of core samples to monitor the sample preparation and analysis procedures at the labs. The analytical quality of the labs is further evaluated with external checks by sending about 3% of the pulp samples to higher-level labs to check for lab bias.

Data from both the Company's and the labs' QA/QC programs are reviewed and evaluated in a timely manner by project geologists.

Brian O'Connor P.Geo ., is the Qualified Person on the project as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.

About Silvercorp

CAUTIONARY DISCLAIMER -- FORWARD-LOOKING STATEMENTS

Contacts:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free: 1(888) 224-1881
investor@silvercorp.ca
www.silvercorp.ca

Source: Silvercorp Metals Inc.

Silvercorp Issues Correction to Dividend Record Date

Thu, 14 Feb 2013 15:07:00 -0500

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/14/13 -- Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) advises that in the dividend announcement issued via news release earlier today, the Company stated that the record date would be March 31, 2013. As March 31 falls on a Sunday, the New York Stock Exchange has requested, and the Company advises that the dividend record date is altered and confirmed as Thursday, March 28, 2013. The dividend payment date which is on or before April 22, 2013 is unaffected.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of small-scale projects with resource potential and self-fund the growth of those assets. For more information, please visit our website at www.silvercorp.ca.

CAUTIONARY DISCLAIMER -- FORWARD-LOOKING STATEMENTS

Contacts:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free: 1(888) 224-1881
investor@silvercorp.ca
www.silvercorp.ca

Source: Silvercorp Metals Inc.

Silvercorp Declares Quarterly Cash Dividend of CAD$0.025

Thu, 14 Feb 2013 08:00:00 -0500

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/14/13 -- Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) today announced that its Board of Directors has declared a quarterly dividend of CAD$0.025 per share (CAD$0.10 per share on an annual basis) to be paid on or before April 22, 2013, to shareholders of record at the close of business on March 31, 2013. The dividends are considered eligible dividends for Canadian tax purposes.

With the payout of this quarterly dividend, Silvercorp's dividend program will have provided approximately US$65.2 million to shareholders since inception. The Company has also paid approximately US$49.7 million to shareholders through its previous share repurchase plans. Together, this amounts to approximately US$115.0 million that has been provided to shareholders since 2007 and is a reflection of the Company's commitment to return cash to its shareholders.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of small-scale projects with resource potential and self-fund the growth of those assets. For more information, please visit our website at www.silvercorp.ca.

CAUTIONARY DISCLAIMER -- FORWARD-LOOKING STATEMENTS

Contacts:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free: 1(888) 224-1881
investor@silvercorp.ca
www.silvercorp.ca

Source: Silvercorp Metals Inc.

Silvercorp Provides Outlook for Fiscal 2014

Wed, 13 Feb 2013 17:05:00 -0500

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 02/13/13 -- Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) ("Silvercorp" or the "Company") today announced its outlook for the fiscal year ending March 31, 2014 ("Fiscal 2014").

Production Guidance

In Fiscal 2014, the Company expects to increase ore production to 1.5 million tonnes, and will produce 6.7 million ounces of silver, 20,800 ounces of gold, 104.7 million pounds of lead and zinc, 300,000 pounds of tin and 20.5 million pounds of sulphur.

Table 1 - Production guidance for Fiscal 2014:

---------------------------------------------------------------------------
                               Ying                                        
                             Mining          GC      BYP       X      Grand
PROJECT                    District        Mine     Mine   Mines      Total
---------------------------------------------------------------------------
Ore processed (tonnes)      900,000     300,000  220,000  80,000  1,500,000
---------------------------------------------------------------------------
                                Head Grades                                
---------------------------------------------------------------------------
Silver (gram per tonne)         220         100        -      37           
Gold (gram per tonne)          0.33           -     2.39    0.24           
Lead (%)                        3.4         0.8        -     2.7           
Zinc (%)                        1.3         2.2        -     2.6           
Tin (%)                           -         0.1        -       -           
Sulphur (%)                       -         6.0        -       -           
---------------------------------------------------------------------------
                              Metal Production                             
---------------------------------------------------------------------------
Silver ('000 ounces)          5,900         740        -      60      6,700
Gold ('000 ounces)              4.7           -     15.8     0.3       20.8
Lead (million pounds)          63.6         4.8        -     3.9       72.3
Zinc (million pounds)          16.7        13.4        -     2.3       32.4
Tin (million pounds)              -         0.3        -       -        0.3
Sulphur (million pounds)          -        20.5        -       -       20.5
---------------------------------------------------------------------------

At the Ying Mining District, production is expected to increase to 900,000 tonnes of ore with grades of 220 gram per tonne ("g/t") silver, 0.33 g/t gold, 3.4% lead and 1.3% zinc, with expected metal production of 5.9 million ounces of silver, 4,700 ounces of gold, and 80.3 million pounds of lead and zinc. The cash and total production costs are expected to be approximately $65 and $80 per tonne of ore, respectively.

With the newly constructed 110KV power substation now in operation, the GC mine in Guangdong Province expects to commence initial trial production in late February 2013. In Fiscal 2014, the Company expects to produce 300,000 tonnes of ore with grades of 100 g/t silver, 0.8% lead and 2.2% zinc, 0.1% tin and 6% sulphur, with expected metal production of 0.74 million ounces of silver, 18.2 million pounds of lead and zinc, 300,000 pounds of tin, and 20.5 million pounds of sulphur. The cash and total production costs are expected to be approximately $45 and $70 per tonne of ore, respectively.

The BYP mine in Hunan Province is expected to produce 220,000 tonnes of ore, yielding approximately 15,800 ounces of gold. The cash and production costs are expected to be approximately $40 and $75 per tonne of ore, respectively.

At the X mines (the XHP and XBG mines), the Company will continue to focus on exploration and mine development, with limited development ore being produced and processed.

Capital Expenditure Budget

The total capital expenditures for Fiscal 2014 are estimated at $86.9 million. Capital investments of $51.9 million, which includes the mine development of shafts and ramps of $19.5 million; land, tailings and reporting and permitting of $7.8 million; office and dormitories of $10.0 million; back-fill facility of $2.0 million; and equipment procurement of $12.6 million. Sustaining capital totaling $35.0 million includes development of tunnels, raises and declines of $24.9 million and exploration programs of $10.1 million. The budget estimate is based on contracts in hand, designs by qualified engineering firms, and the Company's prior experiences.

Table 2 - Summary of the Company's Fiscal 2014 capital expenditure budget:

---------------------------------------------------------------------------
                  Ying Mining                                              
                     District     GC Mine  BYP Mine    X Mines  Grand Total
                 ------------ ----------- --------- ---------- ------------
                    Quan-       Quan-      Quan-  C-  Quan-  C-   Quan-
                    tity        tity       tity ost   tity ost    tity     
                   (m or Cost  (m or Cost (m or  ($  (m or  ($   (m or Cost
PROJECT               m2)($mm)    m2)($mm)   m2) mm)    m2) mm)     m2)($mm)
---------------------------------------------------------------------------
Mine    Shafts                                                             
Devel-   and                                                               
opment   Ramps     4,600  9.7  3,020  9.5     - 0.3              7,620 19.5
        Horizon-                                                          
         tal                                                               
         Tunnels,                                                          
         Raises &                                                          
         Declines 78,600 14.6  9,850  6.4 8,400 2.7  6,500 1.2 103,350 24.9
        Back-fill                                                          
         facility                     2.0                               2.0
        -------------------------------------------------------------------
        Sub total 83,200 24.3 12,870 17.9 8,400 3.0  6,500 1.2 110,970 46.4
---------------------------------------------------------------------------
Explor- Surface                                                            
ation    drilling  5,700  0.6  2,400  0.2   500 0.1  7,000 0.7  15,600  1.6
        Under-                                                          
         ground                                                            
         drill-
         ing     164,300  6.4 45,600  1.4 4,100 0.2 13,000 0.5 227,000  8.5
        -------------------------------------------------------------------
        Sub
         total   170,000  7.0 48,000  1.6 4,600 0.3 20,000 1.2 242,600 10.1
---------------------------------------------------------------------------
Facili- Office                                                             
ties     and
and      Dormit-                                                           
Permi-   ories    18,000  8.3  3,000  1.5       0.1        0.1         10.0
tting   Land,                                                              
         Tailings                                                          
         & Others         1.3         5.8       0.6        0.1          7.8
        -------------------------------------------------------------------
        Sub total         9.6         7.3       0.7        0.2         17.8
---------------------------------------------------------------------------
Equip-
ment                      6.7         1.8       3.8        0.3         12.6
---------------------------------------------------------------------------
Total Capital                                                              
Expenditure                                                               
Budget                   47.6        28.6       7.8        2.9         86.9
---------------------------------------------------------------------------

1. The Ying Mining District, Henan Province, China

The capital expenditures for four mines at the Ying Mining District are expected to be $47.6 million and include:

--  $9.7 million for the construction of two ramps (3,600 metres ("m") in
    total) and several vertical shafts (1,000m in total), to provide access
    to the respective mines at depth. Once completed in calendar year 2015,
    the two ramps, each with a dimension of 4.2m by 3.8m, will provide
    access to the zero metre elevation at the SGX mine and 500m elevation at
    LM West. Both ramps are expected to greatly improve productivity at the
    respective mines and to serve as a base for further mine development
    below those elevations. 
--  $14.6 million for construction of 78,600m horizontal tunnels, declines
    and raises for mining, development and exploration; 
--  $8.3 million for construction of office and dormitory buildings,
    totalling 18,000 square metres ("m2"), to enhance living and working
    conditions for employees and contract workers; 
--  $1.3 million for tailings improvement and other surface facilities; and 
--  $7.0 million for a 170,000m surface and underground drilling program.
    The drilling strategy in the second half of 2012 was revised. Instead of
    focusing on step out drilling at depths below the current mining depth,
    the Company began testing the lateral extensions and in-fill drilling at
    shallow depth or the upper portions of the major production vein
    structures at or above the current mining depth. This strategy has
    successfully defined additional high grade mineralization of production
    veins and discovered new veins at shallow depth where mine development
    exits. As such, the Company will continue to focus on delineating
    lateral extensions of the mineralization zones and in-fill drilling on
    resource blocks at the shallow depth or the upper portions of the veins.
    This change in exploration strategy will take advantage of existing
    underground mine development to access any new discovery of ore bodies
    and not require the development of additional access tunnels.

2. GC Mine, Guangdong Province, China

At the GC mine, the capital expenditures for Fiscal 2014 are expected to be $28.6 million and include:

--  $9.5 million for the continued construction of two ramps and main shaft;
--  $6.4 million for the development of 9,850m of horizontal tunnels and
    raises; 
--  $2.0 million for the construction of a tailings back-fill system; 
--  $7.3 million for the remaining balance of the mill, tailings storage
    facility, office and accommodation, and other surface facilities; 
--  $1.8 for mine equipment; and 
--  $1.6 million for exploration to support a 48,000m surface and
    underground drilling program. The program will mainly focus on in-fill
    drilling on current resource blocks that were previously defined by
    wider spaced drilling. The 2012 in-fill drilling has successfully
    defined a number of wide and high grade mineralization zones in several
    vein structures.

3. BYP Mine, Hunan Province, China

At the BYP mine, the capital expenditures for Fiscal 2014 are expected to be $7.8 million which includes mill expansion from 500 to 1,000 tonnes per day, 8,400m of tunnels for mine development, a tailings back-fill facility and concentrate thickeners, and 4,600m of underground in-fill drilling program.

4. X Mines (XHP and XBG Mines), Henan Province, China

Capital expenditures at the X mines is budgeted at $2.9 million for Fiscal 2014, which includes $1.2 million for mine development, $1.2 million for surface and underground drilling, and $0.5 million for equipment procurement and surface facilities.

The planned drilling program will test lateral and down-dip extension of high grade mineralization zones that were delineated in the 2012 program.

Myles Gao , P.Geo., President of Silvercorp, is a Qualified Person for Silvercorp under NI 43-101 and have reviewed and given consent to the technical information contained in this press release.

About Silvercorp

CAUTIONARY DISCLAIMER -- FORWARD-LOOKING STATEMENTS

March 31, 2012 under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Contacts:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
604-669-9397 or Toll Free: 1-888-224-1881
604-669-9387 (FAX)
investor@silvercorp.ca
www.silvercorp.ca

Source: Silvercorp Metals Inc.