SILVERCORP REPORTS UPDATED MINERAL RESERVES AND RESOURCES AT THE GC MINE

About this update from Silvercorp Metals Inc.

Trading Symbol: TSX/NYSE American: SVMVANCOUVER, BC, June 23, 2026 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to report the results of an updated Technical Report titled Technical Report on Gaocheng Silver-Lead-Zinc Project in Guangdong Province, China for the Gaocheng Mine ("The GC 2026 Technical Report") prepared in accordance with National Instrument 43-101 ("NI 43-101") by SRK Consulting China Ltd ("SRK") with a Mineral Reserve and Mineral Resource dated effective December 31, 2025. The Gaocheng underground Ag-Pb-Zn mine ("GC Mine") is located in Guangdong Province, China.Summary of the GC 2026 Technical ReportEstimated Measured and Indicated Mineral Resources of 18.3 million tonnes ("Mt") grading 65 grams per tonne ("g/t") silver ("Ag"), 0.91% lead ("Pb"), and 2.24% zinc ("Zn"), containing 38.3 million ounces ("Moz") Ag, 167 thousand tonnes ("Kt") Pb, and 408 Kt Zn.In comparison with the 2024 Technical Report (Mineral Resources as of 30 June 2024), Measured and Indicated Resource tonnes have increased by 59%, and contained metal has increased by 23% for Ag, 24% for Pb and 25% for Zn.Estimated Proven and Probable Mineral Reserves of 6.2 Mt grading 63 g/t Ag, 0.91% Pb, and 2.23% Zn, containing 12.5 Moz Ag, 56 Kt Pb, and 138 Kt Zn.In comparison with the 2024 Technical Report (Mineral Reserves as of 30 June 2024), there has been a 25% increase in total Proven and Probable Mineral Reserves tonnes. The changes in total contained metal for Ag, Pb, and Zn are -4%, -7%, and -2% respectively.Estimated Inferred Resources of 7.36 Mt grading 75 g/t Ag, 0.84% Pb, and 1.91% Zn, containing 17.7 Moz Ag, 62 Kt Pb, and 140 Kt Zn. In comparison with the 2024 Technical Report, Inferred Resource tonnes have decreased by 23%, and contained metal has decreased by 32% for Ag, 47% for Pb and 40% for Zn.Based on Proven and Probable Mineral Reserves only, an annual production rate increase is planned from the current level of around 345 thousand tonnes per annum ("ktpa") in FY2026 to between 350 and 365 ktpa from FY2027 to FY2028, and then increase to approximately 370 ktpa from FY 2029 to FY 2041, and then decrease to 223 and 62 ktpa for FY 2042 and final year FY 2043, respectively. Annual production of Ag is projected to be approximately 0.7 Moz. The Life of Mine ("LOM") plan is capped unless the GC Mi...

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