Trading Symbol: TSX/NYSE American: SVM
VANCOUVER, BC, July 15, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reports production and sales figures for the first quarter ended June 30, 2026 ("Q1 Fiscal 2027"). Silvercorp expects to release its Q1 Fiscal 2027 unaudited interim financial results on Monday, August 10, 2026, after market close.
Q1 Fiscal 2027 Operational Highlights
Strong Revenue of $138.7 million, representing an increase of 70% over the same quarter last year ("Q1 Fiscal 2026");
Proactive Safety Compliance: Starting mid June, we voluntarily suspended operations to conduct comprehensive self-reviews and complete the "Six Major Safety Systems" underground upgrades in full compliance with new Chinese government regulations. While this one-time initiative temporarily impacted metals production during the quarter, it lays a solid foundation for sustainable operations;
Production Results: Silver production of 1.5 million ounces (down 17% over Q1 Fiscal 2026), gold production of 2,536 ounces (up 24% over Q1 Fiscal 2026); silver equivalent1 production of 1.7 million ounces (down 15% over Q1 Fiscal 2026); lead production of 13.4 million pounds (down 15% over Q1 Fiscal 2026), zinc production of 4.4 million pounds (down 15% over Q1 Fiscal 2026);
Exploration & Mill Expansion on Track: Active exploration continued at the Ying Mining District and the GC Mine, with a total of 86,104 metres ("m") of drilling and 18,749 m of exploration tunneling completed; construction of No. 3 mill at the Ying Mining District commenced, with the foundation treatment and the elevated water tank currently in progress;
Mine Development & Construction:
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Kuanping mine construction continued, with 2,155 m of ramp development, 886 m of exploration tunneling and 3,716 m of drilling completed;
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El Domo mine construction advanced steadily despite rainfall challenges in the quarter. The non-contact water channel, foundation work of the processing plant and initial dam for the tailings storage facility advanced with a total of approximately 604,600 cubic metres of earthworks excavation and fill completed. The open-pit pre-stripping commenced, with efficiency being improved via equipment additions, expanded operational areas, and road upgrades. Meanwhile, major equipment for the processing plant and water treatment station has been procured and shipped to the Country. The contract for the construction of the process plant has been concluded with TGJA, a contractor who has just built the 80,000 tonne per day flotation mill for the Mirador copper-gold mine in Ecuador. The Company is working on the target of commissioning the operation by July 2027 as planned;
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Chaarat ZAAV project is progressing as planned. A mining contractor, CRCC19, has been hired after a bidding process that involved five bidders. CRCC19 is currently operating in Kyrgyzstan and is also the mining contractor for our El Domo project in Ecuador. Construction of the temporary camp and related facilities is under way, and CRCC19 has started to build access roads to the open pit mine and waste dump, and to prepare of the site foundation for the heap leach pad area. A 50,000 m drilling program, including both in-fill and step-out, has advanced 12,967 m of drilling during the quarter with 16 drill rigs, the assay results are pending. In addition, a bankable feasibility study is currently under compilation by LogiProc, a third party engineering firm, and is expected to be completed in late July 2026.
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