RockBreaks – Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) Completes Acquisition of Chaarat ZAAV in Kyrgyz Republic

Disseminated on behalf of Silvercorp Metals Inc. and includes paid advertisement

Silvercorp Metals (TSX: SVM) (NYSE American: SVM) announced that it has completed the acquisition of Chaarat ZAAV CJSC pursuant to its previously disclosed share purchase agreement with Chaarat Gold Holdings Limited, following the Kyrgyz government’s issuance of a waiver of its statutory pre-emptive right and Silvercorp’s $92 million payment to Chaarat. As part of the transaction, Silvercorp will convert ZAAV into a joint venture company with Kyrgyzaltyn, a wholly owned subsidiary of the Kyrgyz Republic, with Silvercorp holding a 70% operating interest and Kyrgyzaltyn holding a 30% free-carried interest. The joint venture will apply to extend the mining license for the Tulkubash and Kyzyltash gold projects from June 25, 2032 to June 25, 2062, after which Silvercorp will make a $60 million payment to the National Investment Agency under the President of the Kyrgyz Republic.

To view the full press release, visit https://ibn.fm/8P8We

About Silvercorp

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company’s strategy is to create shareholder value by 1) focusing on generating free cash flow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG.

NOTE TO INVESTORS: The latest news and updates relating to SVM are available in the company’s newsroom at https://ibn.fm/SVM

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