Silvercorp Metals has reported the results of an updated NI 43-101 Technical Report with an effective date of June 30, 2018 (Mineral Resources and Mineral Reserves effective December 31, 2017), prepared by AMC Mining Consultants (Canada) on the Gaocheng silver-zinc-lead property in Guangdong Province, China.

The four authors of the report all qualify as independent Qualified Persons. Two visited the Gaocheng Property in January 2018. AMC examined all aspects of the project, including drill core, underground workings, processing plant and surface infrastructure.

Mineral Reserves of 3.56 Mt in the Proven and Probable categories grading 96 g/t Ag, 1.4% Pb, and 3.1% Zn.

From the start of operations at Gaocheng in 2014 through to December 31, 2017, 987,000 t have been mined at average head grades of 98 g/t Ag, 1.5% Pb and 2.7% Zn.

Based on Proven and Probable Reserves only, the GC mine is a viable operation with a projected Life of Mine (LOM) of 12 years through to 2030, with an average annual production rate of some 300,000 t, and with average silver equivalent grades of the order of 335 g/t for the first eight years and then 240 g/t for the remainder of the mine life. GC also has the potential to extend the LOM beyond 2030, via conversion of existing Mineral Resources to Mineral Reserves, and further exploration and development.

Based on the LOM production forecast and the metal price and other assumptions used, a base case pre-tax NPV at 8% discount rate of $160 million is projected ($120 million post-tax). Over the LOM, 45% of the net revenue is projected to come from zinc, 35% from silver and 20% from lead.