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Silvercorp Reports Updated Mineral Reserves and Resources at the GC Mine

Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) has recently unveiled an updated Technical Report regarding its Gaocheng Silver-Lead-Zinc Project in Guangdong Province, China, referred to as the GC Mine. This report, conducted in adherence to National Instrument 43-101 (NI 43-101) standards, presents promising updates on mineral reserves and resources, effective as of December 31, 2025, prepared by SRK Consulting China Ltd.

Overview of Mineral Resources

The 2026 Technical Report estimates Measured and Indicated Mineral Resources at approximately 18.3 million tonnes, with an impressive average grade of 65 grams per tonne silver, 0.91% lead, and 2.24% zinc. This is equivalent to about 38.3 million ounces of silver, 167 thousand tonnes of lead, and 408 thousand tonnes of zinc. Notably, these figures reveal a remarkable 59% increase in total resource tonnes compared to the previous year’s report of June 30, 2024. Additionally, contained metals in silver, lead, and zinc have increased by 23%, 24%, and 25% respectively.

In terms of the Proven and Probable Mineral Reserves, the estimates indicate a total of 6.2 million tonnes grading 63 grams per tonne silver and containing approximately 12.5 million ounces of silver, alongside 56 thousand tonnes of lead, and 138 thousand tonnes of zinc. Compared to 2024 reports, this marks a 25% increase in total reserve tonnes. Yet, there was a slight decrease in contained metals for silver, lead, and zinc of 4%, 7%, and 2%, respectively.

Furthermore, estimated Inferred Resources are pegged at 7.36 million tonnes with a grade of 75 grams per tonne silver. However, this represents a decrease of 23% in tonnes from the 2024 figures, with contained metals dipping by significant margins.

Projected Production Rates

Looking ahead, the GC Mine’s anticipated annual production rates are set to rise from approximately 345 thousand tonnes in FY2026 to between 350 and 365 thousand tonnes from FY2027 to FY2028. Subsequently, expectations are to bump this figure to roughly 370 tonnes from FY2029 to FY2041. While production is predicted to diminish towards the end of the mine's life, with final outputs dropping to 223 and 62 thousand tonnes in the years leading up to its conclusion in FY2043, silver production is projected at around 0.7 million ounces annually.

The Life of Mine (LOM) plan is likely to remain unchanged unless the GC Mine successfully undertakes expansions of the tailings storage facilities, allowing operations to continue beyond 2044.

As evaluated through a Discounted Cash Flow model with an 8% discount rate, the projected post-tax Net Present Value (NPV5) stands at $101.4 million, with $100.3 million attributable to Silvercorp due to an enduring 99% interest.

Detailed Mineral Resource Statistics

The latest resource estimations utilize a block modeling approach and covered various mineralized vein structures within the GC Mine. All grades were assessed employing an inverse distance squared methodology. Resources are reported post-application of a minimum extraction width and determined cut-off grades that reflect mining, trucking, and processing costs.

Here are some key specifics:

• - Measured Resources: 8.97 Mt at 66 g/t Ag, 1.01% Pb, 2.44% Zn
• - Indicated Resources: 9.30 Mt at 64 g/t Ag, 0.82% Pb, 2.04% Zn
• - Inferred Resources: 7.36 Mt at 75 g/t Ag, 0.84% Pb, 1.91% Zn

The report accentuates that future exploration and development at the GC Mine, particularly in areas with identified Inferred material, could further enhance mineral resource totals.

Conclusion

Silvercorp's latest Technical Report not only signals the GC Mine's sustained operational viability but also highlights its potential for resource expansion through continued exploration. With a robust strategy focused on generating shareholder value through operational efficiencies, rigorous exploration, and responsible mining practices, Silvercorp remains poised for a promising future in the mining sector. For more detailed statistics and insights, investors and interested parties can refer to the full Technical Report available on Silvercorp’s website.

As the mining landscape evolves, stakeholders will be eager to monitor Silvercorp's ongoing developments, as they have established a firm foundation for both stability and growth in the years to come.