Silvercorp Publishes Fiscal 2024 Sustainability Report

Trading Symbols: TSX/NYSE American: SVM

VANCOUVER, British Columbia  – September 16, 2024 – Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX/NYSE American: SVM) is pleased to announce the publishing of its annual Sustainability Report for Fiscal 2024, detailing the Company’s environmental, social, and governance (“ESG”) commitments, performance, and targets. “At Silvercorp, we recognize the mining industry’s role in supporting the global transition to a low-carbon future and our responsibility to supply essential minerals sustainably,” said Dr. Rui Feng, Chair and CEO of Silvercorp. “This year, we made significant strides in advancing our sustainability goals by implementing several energy conservation and emissions reduction projects across our operations. As we continue to expand our operations into new jurisdictions, ESG remains at the core of our business strategy, ensuring long-term value creation for all stakeholders, while minimizing our environmental impact and positively impacting the communities in which we operate.”

Highlights of Silvercorp's Fiscal 2024 Sustainability Report

Environmental

• Achieved an 85% water recycling rate at processing plants, a 4% increase compared to our 2020 baseline, showing our ongoing commitment to decrease our fresh water usage,
• Implemented XRT intelligent waste rock screening technology, reducing electricity consumption by 50 kilowatt-hours per tonne of waste rock screened,
• Deployed 10 electric mining trucks at our operations to support our emissions reduction targets, and
• Had zero significant environmental incidents.

Social

• Invested $3.2 million in local community initiatives, nearly double the amount of the previous year,
• Achieved 74% local employment from communities surrounding Silvercorp’s operations, a 3% increase from the previous year, and
• Conducted our first gender pay equity survey to reaffirm our commitment to fairness and equality in compensation practices.

Governance

• Achieved 33% female representation and 83% independence on the Board,
• Strengthened governance with the addition of two new corporate policies, Human Resources and Water Stewardship, and published our inaugural Forced Labour and Child Labour Report, and
• Formalized our Supplier’s Code of Conduct to ensure suppliers are aligned with our core values and commitment to ethical and responsible business practices.

Reporting Frameworks

The report has been prepared with reference to the GRI Standards 2021 of the Global Sustainability Standard Board (GSSB), as well as regarding the Sustainable Development Goals (SDGs) by the United Nations Global Compact (UNGC), the Recommendations of the Task Force on Climate- Related Financial Disclosures (TCFD), the Global Industry Standard on Tailings by the International Council on Mining and Metals (ICMM), and the Sustainability Accounting Standards Board (SASB) standard on Metals and Mining.

The full 2024 Sustainability Report is available for download at www.silvercorp.ca, along with the applicable ESG data tables and GRI indices at www.silvercorpmetals.com/reporting/.

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 cashflow from long-life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) a long-term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorpmetals.com.