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Corporate Presentation
October 23, 2017
SVM:TSX/NYSE AMERICAN
FORWARD LOOKING STATEMENTS
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995:...
SVM:TSX/NYSE AMERICAN 3
Ying Mining District, Henan Province
FY2017: 5.9Moz Silver
FY2017: 69.3Mlbs Lead+Zinc
GC Project, ...
PROVEN TRACK RECORD PRODUCTION : 52.6 MILLION OUNCES SILVER
SVM:TSX/NYSE AMERICAN 4
*Silvercorp’s fiscal year is ended on ...
PROVEN TRACK RECORD PRODUCTION: 773 MILLION POUNDS LEAD AND ZINC
SVM:TSX/NYSE AMERICAN 5
*Silvercorp’s fiscal year is ende...
STRONG FINANCIAL PERFORMANCE
SVM:TSX/NYSE AMERICAN 6
▸ Cash + short-term
investments:
US$102.1 Million (as
at June 30, 201...
HIGH PROFIT MARGIN SILVER PRODUCER
SVM:TSX/NYSE AMERICAN 7
SILVER PRICE IMPACTS REVENUE PER TONNE ORE
SVM:TSX/NYSE AMERICAN 8
LEAD & ZINC PRICE INCREASE IMPACTS REVENUE MIX
SVM:TSX/NYSE AMERICAN 9
▸ GC Project
contributed
increased revenue
from Lea...
IMPROVING HEAD GRADES AT THE KEY ASSET
SVM:TSX/NYSE AMERICAN 10
ROBUST NET REALIZED LEAD AND ZINC SELLING PRICE
SVM:TSX/NYSE AMERICAN 11
 London Metal Exchange Lead Spot Selling Price o...
COMPARISON WITH PEERS: FREE CASH FLOW PER SHARE AND MULTIPLES
SVM:TSX/NYSE AMERICAN 12
COMPARISON WITH PEERS: COST
SVM:TSX/NYSE AMERICAN 13
* All-in sustaining cost per ounce of silver, net of by-product credi...
COMPARISON WITH PEERS: ROE
SVM:TSX/NYSE AMERICAN 14
COMPARISON WITH PEERS: GROSS PROFIT MARGIN
SVM:TSX/NYSE AMERICAN 15
GROWTH: GROW SHARE OUTSTANDING OR FREE CASH FLOW?
SVM:TSX/NYSE AMERICAN 16
*Free cash flow=operating cash flow-capital exp...
ADOPT NEW INFORMATION TOOL “ENTERPRISE BLOG” IN OPERATION
Improvement in the head grades of metals can be attributed in pa...
ENTERPRISE BLOG: IMPROVING DILUTION AND SAFETY
SVM:TSX/NYSE AMERICAN 18
This supporting photo posted by an
onsite technici...
ENTERPRISE BLOG: A PRODUCTIVITY TOOL
Benefits of the “Enterprise Blog”
▸ Information collection, distribution, retrieval, ...
YING MINING DISTRICT IN HENAN: SILVERCORP’S FLAGSHIP ASSET
▸ Flagship Ying District consists of underground mines (SGX, TL...
GC MINE IN GUANGDONG: THE SECOND MINE
Our Newest Mine
▸ Commercial production commenced in
2014
▸ Underground silver/zinc ...
BYP GOLD MINE : PREPARING FOR PRODUCTION
Status:
▸ Suspended mining operations in
August 2014
▸ Capital requirements for
u...
GROWING RESERVES & RESOURCES
SVM:TSX/NYSE AMERICAN 23
1 Excludes Lead and Zinc. Gold was converted to Silver equivalent at...
STEADY CASH FLOW TO SUPPORT “QUALITY GROWTH”
Achievements:
▸ Steady operation with reduced dilution and much improved head...
NEW PACIFIC’S MAIN ASSET: SILVER SAND PROJECT IN BOLIVIA
25SVM:TSX/NYSE AMERICAN
 Six significant mineralization zones
(Z...
NEW PACIFIC’S MAIN ASSET: SILVER SAND PROJECT IN BOLIVIA
26SVM:TSX/NYSE AMERICAN
Historical and Confirmation Core Drill Ho...
FY 2018 PRODUCTION GUIDANCE
SVM:TSX/NYSE AMERICAN 27
FY2018 Guidance + 3 Month Actual*
Project
Ying Mining District GC Min...
FY2018 CAPITAL EXPENDITURE GUIDANCE
SVM:TSX/NYSE AMERICAN 28
(CURRENT FISCAL YEAR ENDING MAR 31, 2018)*
Mines/
Projects
Mi...
APPENDICES
SVM:TSX/NYSE AMERICAN 29
APPENDIX I:
SVM:TSX/NYSE AMERICAN 30
OWNERSHIP AND COVERAGE
Ownership
Analyst Coverage
Chris Thompson Raymond James
Top 10...
APPENDIX II
SVM:TSX/NYSE AMERICAN 31
MANAGEMENT & BOARD
Management
Rui Feng, Ph.D., Geology
Chairman and CEO, Director
Der...
APPENDIX III:
SVM:TSX/NYSE AMERICAN 32
SUMMARY OF SILVER RESERVES1
Project
Reserve
Category
Tonnes
(Million)
Average Grade...
APPENDIX IV:
SVM:TSX/NYSE AMERICAN 33
SUMMARY OF SILVER RESOURCES1
Project
Resource
Category
Tonnes
(Million)
Average Grad...
APPENDIX V:
SVM:TSX/NYSE AMERICAN 34
BYP MINE RESOURCE
CLASS
Cut-off Grades
(g/t)
Resource Grades
Contained Metal
Resource...
ENDNOTES AND CAUTIONARY STATEMENTS
Alex Zhang, P. Geo., is the Qualified Person within the meaning of National Instrument ...
SVM:TSX/NYSE AMERICAN 36
Suite #1378 - 200 Granville St., Vancouver, BC, Canada V6C 1S4
Tel: 604-669-9397
Fax: 604-669-938...
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Silvercorp Metals Inc. Corporate Presentation October 23, 2017

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Silvercorp Metals Inc. Corporate Presentation October 23, 2017

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Silvercorp Metals Inc. Corporate Presentation October 23, 2017

  1. 1. Corporate Presentation October 23, 2017 SVM:TSX/NYSE AMERICAN
  2. 2. FORWARD LOOKING STATEMENTS Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those with respect to the price of silver, lead and zinc, the possibility, timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Silvercorp to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to international operations, risks related to Chinese government issuance of mining and related development permits, risks related to joint venture operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silver, lead and zinc, as well as other Risk Factors. Although Silvercorp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The shares of Silvercorp Metals Inc. trade on the Toronto Stock Exchange (TSX: SVM) and NYSE American (NYSE American: SVM). The TSX and NYSE have not approved or disapproved the form or content of this presentation. Cautionary Note To U.S. Investors Concerning Estimates Of Measured, Indicated And Inferred Resources This presentation uses the terms “Measured”, “Indicated” and Inferred” Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the Securities and Exchange Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Resources will ever be converted into reserves. U.S. investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable. 2SVM:TSX/NYSE AMERICAN
  3. 3. SVM:TSX/NYSE AMERICAN 3 Ying Mining District, Henan Province FY2017: 5.9Moz Silver FY2017: 69.3Mlbs Lead+Zinc GC Project, Guangdong Province FY2017: 0.6Moz Silver FY2017: 19.5Mlbs Lead+Zinc XHP Project Henan Province Reserves & Resources 1,2,3 Silver (Moz) Lead (Kt) Zinc (Kt) Proven & Probable Reserves 113.5 523.1 296.0 Measured & Indicated Resources 158.3 731.5 449.7 Inferred Resources 108.7 521.9 327.1 1 Feb. 2017- Excludes BYP and XHP Resources. 2 M&I, Inclusive of Reserves 3 Excludes Gold Equivalent CHINA’S PREMIER SILVER PRODUCER BYP Mine, Hunan Province (On Care and Maintenance) Historical Production (April 2006- March 2017) Silver: 52.6 Million Ounces Lead+Zinc: 773 Million lbs Net Profit: US$360 million Fiscal 2017 (April 2016-March 2017) Silver: 6.5 Million Ounces Lead+Zinc: ~89 Million lbs Net Profit: US$43 million Operating Cash flow: US$79 million >15 year mine life remaining
  4. 4. PROVEN TRACK RECORD PRODUCTION : 52.6 MILLION OUNCES SILVER SVM:TSX/NYSE AMERICAN 4 *Silvercorp’s fiscal year is ended on March 31
  5. 5. PROVEN TRACK RECORD PRODUCTION: 773 MILLION POUNDS LEAD AND ZINC SVM:TSX/NYSE AMERICAN 5 *Silvercorp’s fiscal year is ended on March 31
  6. 6. STRONG FINANCIAL PERFORMANCE SVM:TSX/NYSE AMERICAN 6 ▸ Cash + short-term investments: US$102.1 Million (as at June 30, 2017) ▸ Reinstatement of dividend US$0.02/year ▸ No Receivables (Smelters pay for concentrate in advance) ▸ No Debt *Silvercorp’s fiscal year is ended on March 31
  7. 7. HIGH PROFIT MARGIN SILVER PRODUCER SVM:TSX/NYSE AMERICAN 7
  8. 8. SILVER PRICE IMPACTS REVENUE PER TONNE ORE SVM:TSX/NYSE AMERICAN 8
  9. 9. LEAD & ZINC PRICE INCREASE IMPACTS REVENUE MIX SVM:TSX/NYSE AMERICAN 9 ▸ GC Project contributed increased revenue from Lead and Zinc since Q3 2014 ▸ Recent appreciation of Lead and Zinc metal prices has contributed Lead+Zinc revenue approaching to 50% 73% 69% 60% 58% 63% 58% 56% 59%59% 62%61% 50% 56% 53% 25% 35% 45% 55% 65% 75% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2014 2015 2016 2017 Sales Mix by Metals Lead and Zinc sales percentage Silver and Gold sales percentage
  10. 10. IMPROVING HEAD GRADES AT THE KEY ASSET SVM:TSX/NYSE AMERICAN 10
  11. 11. ROBUST NET REALIZED LEAD AND ZINC SELLING PRICE SVM:TSX/NYSE AMERICAN 11  London Metal Exchange Lead Spot Selling Price on September 22, 2017 was $1.12/lb  Silvercorp Net Realized Lead Selling Price on September 22, 2017 was $1.18/lb SHMET Lead Price (September 22, 2017) 21,050 RMB/mt Smelter Deduction (-) 1,300 RMB/mt Value Added Tax at 17% 2,870 RMB/mt Net Realized Lead Selling Price/RMB/mt 16,880 RMB/mt Net Realized Lead Selling Price/RMB/lb (1mt=2202 lb) 7.672 Net Realized Lead Selling Price/US$/lb (1US$=6.5RMB) $1.18
  12. 12. COMPARISON WITH PEERS: FREE CASH FLOW PER SHARE AND MULTIPLES SVM:TSX/NYSE AMERICAN 12
  13. 13. COMPARISON WITH PEERS: COST SVM:TSX/NYSE AMERICAN 13 * All-in sustaining cost per ounce of silver, net of by-product credits.
  14. 14. COMPARISON WITH PEERS: ROE SVM:TSX/NYSE AMERICAN 14
  15. 15. COMPARISON WITH PEERS: GROSS PROFIT MARGIN SVM:TSX/NYSE AMERICAN 15
  16. 16. GROWTH: GROW SHARE OUTSTANDING OR FREE CASH FLOW? SVM:TSX/NYSE AMERICAN 16 *Free cash flow=operating cash flow-capital expenditures-capital lease payment
  17. 17. ADOPT NEW INFORMATION TOOL “ENTERPRISE BLOG” IN OPERATION Improvement in the head grades of metals can be attributed in part to an internal “Enterprise Blog” (EB) system in the management of Mine Production and Safety Information. “EB” system is an internet social media system that makes the collection, distribution and flow of the work related knowledge and information easy and transparent for parties at different locations. ▸ Each of the mining stopes, development faces, or equipment is assigned a “blog” name. ▸ Daily onsite inspection results of different workplaces listed in “check list tables” contain structured data with supporting photos which are “posted” on different “blogs”. ▸ Different levels of the management team can access to the daily “blogs” for each workplace instantly once posted. ▸ Records of a management person’s access to the “blogs” will make related parties accountable. SVM:TSX/NYSE AMERICAN 17 REDUCES DILUTION & IMPROVES SAFETY
  18. 18. ENTERPRISE BLOG: IMPROVING DILUTION AND SAFETY SVM:TSX/NYSE AMERICAN 18 This supporting photo posted by an onsite technician clearly shows the CO reading for the stope is less that 24 ppm as required by the government. This supporting photo posted by frontline technicians shows an inspected stope with clearly marked ore boundaries and drill hole locations.
  19. 19. ENTERPRISE BLOG: A PRODUCTIVITY TOOL Benefits of the “Enterprise Blog” ▸ Information collection, distribution, retrieval, and site monitoring becomes instantly transparent. ▸ Information and data from frontline technicians or engineers freely flows throughout layers of the management structure. ▸ Structured data format provides statistics for key management info. SVM:TSX/NYSE AMERICAN 19 ▸ Management has the directive, pressure, and tools to make prompt and more accurate decisions. ▸ The system will also record if a management person has accessed the “blog” to read or comment. ▸ Collaboration becomes easy, KPI assessments are fair and timely, and each person is accountable for his work.
  20. 20. YING MINING DISTRICT IN HENAN: SILVERCORP’S FLAGSHIP ASSET ▸ Flagship Ying District consists of underground mines (SGX, TLP, LM, and HPG) –over 200 veins identified ▸ 68.74km2 land package SVM:TSX/NYSE AMERICAN 20 ▸ On-going drilling has increased mine life to 20 years after 10 year’s production ▸ produced 50.7 million Oz silver plus 711.5 million lbs of Lead+Zinc since 2006 ▸ Two centralized mills with 3,200 t/d capacity ▸ 6 smelters within 200km of the district ▸ Opportunity for further acquisitions in local area
  21. 21. GC MINE IN GUANGDONG: THE SECOND MINE Our Newest Mine ▸ Commercial production commenced in 2014 ▸ Underground silver/zinc mine ▸ Excellent infrastructure and access ▸ Profitable operations SVM:TSX/NYSE AMERICAN 21 Main Access Ramp
  22. 22. BYP GOLD MINE : PREPARING FOR PRODUCTION Status: ▸ Suspended mining operations in August 2014 ▸ Capital requirements for upgrades to sustain ongoing production are being considered ▸ Continues to review alternatives for this project ▸ To bring it back to production may cost US$10 million SVM:TSX/NYSE AMERICAN 22 500 tpd Mill at the BYP Mine
  23. 23. GROWING RESERVES & RESOURCES SVM:TSX/NYSE AMERICAN 23 1 Excludes Lead and Zinc. Gold was converted to Silver equivalent at a rate of 65:1. 2 Measured & Indicated Resources Inclusive of Reserves. See Appendix III, IV and V for breakout of Measured, Indicated and Inferred, Proven and Probable categories. 18.9 40.1 51.9 81.1 102.0 98.8 122.0 148.2 159.4 180.5 64.4 59.0 98.5 102.8 115.3 - 20 40 60 80 100 120 140 160 180 200 2005 2006 2007 2008 2009 2010 2011 2012 2014 2017 OuncesofSilverandSilverEq.*(Millions) Reserves & Resources: FY2005 - FY2017 1,2 (not including 50Moz Ag production 2005-2016) M&I P&P Reserves
  24. 24. STEADY CASH FLOW TO SUPPORT “QUALITY GROWTH” Achievements: ▸ Steady operation with reduced dilution and much improved head grade ▸ Production cost in per tonne ore and per ounce silver are steady and down ▸ Cash flow of US$79 million for fiscal 2017, expecting stable or increase for fiscal 2018 ▸ Better organization with incentive plan and KPI assessment mechanism at operations Growth: ▸ Grow existing assets organically through land expansion and drilling ▸ Bring BYP back to production ▸ Acquire high grade exploration project with resource defined that can quickly be brought into profitable operation with reasonable capital expenditures ▸ Acquired ~31% equity interest in New Pacific Metals Corp. (TSX-V: NUAG) 24SVM:TSX/NYSE AMERICAN
  25. 25. NEW PACIFIC’S MAIN ASSET: SILVER SAND PROJECT IN BOLIVIA 25SVM:TSX/NYSE AMERICAN  Six significant mineralization zones (Zones I, II, III, IV, IX, and X)  Zone I mineralization extending over 1,600 m long, up to 125 m in width, and 350 m in depth, as defined by surface channel samples and 7 drill holes  A drill program of 30,000 - 40,000 m over 16 exploration sections 100 m apart to define the Zone I over 1,600 m along the extension direction  5 drill holes (~400 m/hole) for 2000 m per Exploration Section  Drill some “Glory” holes to 800 m depth to test the Zone I’s extension depth
  26. 26. NEW PACIFIC’S MAIN ASSET: SILVER SAND PROJECT IN BOLIVIA 26SVM:TSX/NYSE AMERICAN Historical and Confirmation Core Drill Hole Intercepts: ZK6601: 191.3 m grading 245 g/t silver ZK5401: 195.3 m grading 168 g/t silver ZK4601: 155.2 m grading 179 g/t silver DSS6601: 102 m grading 197 g/t silver (scissor hole) DSS6602: 133.5 m grading 226 g/t silver (twin hole) DSS5401: 187.5 m grading 162 g/t silver (twin hole) DSS4601: 108 m grading 86 g/t silver (twin hole) CIL Cyanidation: head grade 384.05 g/t, grinding to 85.32% <200 mesh (NaCN costs 3.5kg per tonne of ore), silver recovery 92.73% with tailings grading 27.92 g/t
  27. 27. FY 2018 PRODUCTION GUIDANCE SVM:TSX/NYSE AMERICAN 27 FY2018 Guidance + 3 Month Actual* Project Ying Mining District GC Mine Grand Total FY2018E 3 Month Actual FY2018E 3 Month Actual FY2018E 3 Month Actual Ore processed (tonnes) 650,000 164,959 250,000 65,944 900,000 230,903 Head Grades Silver (gram per tonne) 275 304 90 98 Lead (%) 4.2 4.6 1.5 1.6 Zinc (%) 0.9 0.8 2.6 2.7 Metal Sales Silver (million ounces) 5.3 1.3 0.4 0.2 5.7 1.5 Lead (million pounds) 56 13.8 7.1 2.1 63.1 15.9 Zinc (million pounds) 6 0.8 12.3 4.2 18.3 5 * Current fiscal year ending March 31, 2018
  28. 28. FY2018 CAPITAL EXPENDITURE GUIDANCE SVM:TSX/NYSE AMERICAN 28 (CURRENT FISCAL YEAR ENDING MAR 31, 2018)* Mines/ Projects Mine Development and Tunneling** Facilities/ Land Usage/ Equipment*** Total US$million Amount (US$million) work (meters) Amount (US$million) FY2018 3 Month Actual FY2018 3 Month Actual FY2018 3 Month Actual FY2018 3 Month Actual Ying Mining District 19.5 5.2 66,000 18,890 2.0 0.8 21.5 6.0 GC Mine 0.5 0.1 300 158 0.5 0.02 1.0 0.12 Total Budget 20.0 5.3 66,300 19,048 2.5 0.82 22.5 6.12 * Includes sustaining capital ** For FY2018, total tunneling at Ying Mining District is budgeted at 83,000 meters, of which 66,000 meters will be capitalized and 17,000 meters will be expensed. Total tunneling at GC mine is budgeted at 10,000 meters, of which 300 meters will be capitalized and 9,700 meters will be expensed. *** For FY2018, total drilling at Ying Mining District and GC mine is budgeted at 76,000 meters and 17,000 meters. All of the drilling will be expensed. FY 2018 guidance as of Feb. 2, 2017.
  29. 29. APPENDICES SVM:TSX/NYSE AMERICAN 29
  30. 30. APPENDIX I: SVM:TSX/NYSE AMERICAN 30 OWNERSHIP AND COVERAGE Ownership Analyst Coverage Chris Thompson Raymond James Top 10 Institutional Investors % O/S 1 Van Eck Associates Corporation 6.25 2 O'Shaughnessy Asset Management LLC 2.19 3 Old Mutual Global Investors (UK), LTD 1.75 4 AMG Fondsverwaltung AG 1.19 5 Global X Management Company, LLC 1.14 6 AXA Investment Managers (U.K.), LTD 0.90 7 Stabilitas GmbH 0.89 8 DZ Privatbank S.A. 0.89 9 TIAA-CREF Investment Management, LLC 0.86 10 Spark Investment Management, LLC 0.76 Source: BD Corporate August 2017 Data Joe Reagor Roth Capital Insiders 3.54% Institutional 25.94% Retail 70.52%
  31. 31. APPENDIX II SVM:TSX/NYSE AMERICAN 31 MANAGEMENT & BOARD Management Rui Feng, Ph.D., Geology Chairman and CEO, Director Derek Liu, MBA, CGA, CPA Chief Financial Officer Luke Liu, M. Eng. PhD (Mining Eng.) Vice President China Operations Lorne Waldman, MBA, LL.B. Senior Vice President Board of Directors Rui Feng Marina Katusa Yikang Liu Paul Simpson David Kong
  32. 32. APPENDIX III: SVM:TSX/NYSE AMERICAN 32 SUMMARY OF SILVER RESERVES1 Project Reserve Category Tonnes (Million) Average Grades Contained Metal Reserves Ag (g/t) Pb (%) Zn (%) Ag (Moz) Pb (t) Zn (t) Ying Mining District Proven 4.67 252 4.15 1.55 37.85 193,950 72,240 Probable 7.63 233 3.50 1.09 57.16 267,010 83,450 GC Project Proven 0.46 199 1.12 3.18 3.00 5,200 14,800 Probable 4.29 113 1.33 2.93 15.50 56,900 125,500 Consolidated Proven 5.13 40.85 199,150 87,040 Probable 11.92 72.66 323,910 208,950 Total 17.05 113.51 523,060 295,990 1. Table excludes HPG mine Proven reserves of 16,430 oz Au (470,000 tonnes grading 1.10 g/t Au) and HPG mine Probable reserves of 10,840 oz Au (290,000 tonnes grading 1.15 g/t Au)
  33. 33. APPENDIX IV: SVM:TSX/NYSE AMERICAN 33 SUMMARY OF SILVER RESOURCES1 Project Resource Category Tonnes (Million) Average Grades Contained Metal Resources (Inclusive of Reserves) Ag (g/t) Pb (%) Zn (%) Ag (Moz) Pb (t) Zn (t) Ying Mining District Measured 5.91 266 4.36 1.64 50.55 257,600 96,690 Indicated 10.40 233 3.59 1.13 77.76 373,000 117,660 Inferred 10.47 230 3.91 1.10 77.25 409,400 115,220 GC Project Measured 0.59 230 1.41 3.33 4.40 8,400 19,800 Indicated 7.04 113 1.31 3.06 25.60 92,500 215,500 Inferred 7.96 123 1.41 2.66 31.40 112,500 211,900 Consolidated Measured 6.50 54.95 266,000 116,490 Indicated 17.44 103.36 465,500 333,160 Inferred 18.43 108.65 521,900 327,120 1. Table excludes HPG mine Measured resources of 24,000 oz Au (690,000 tonnes grading 1.10 g/t Au), Indicated resources of 22,000 oz Au (630,000 tonnes grading 1.10 g/t Au), Inferred resources of 39,000 oz Au (1,010,000 tonnes grading 1.21 g/t Au). Table also excludes BYP Au-Pb-Zn project resources (BYP resources summarized on Slide 28).
  34. 34. APPENDIX V: SVM:TSX/NYSE AMERICAN 34 BYP MINE RESOURCE CLASS Cut-off Grades (g/t) Resource Grades Contained Metal Resources (tonne) Au (g/t) Au (oz) Indicated 1.0 3,510,000 2.59 292,000 Inferred 1.0 2,470,000 1.84 146,000 Mineral Resources for Gold Zones as of December 31, 2011: CLASS Cut-off Grades (g/t) Resource Grades Contained Metal Resources (tonne) Pb(%) Zn(%) Pb (Tonnes) Zn (Tonnes) Indicated 2.0 Pb+Zn 7,330,000 1.16 2.52 85,000 184,700 Inferred 2.0 Pb+Zn 7,550,000 0.85 2.75 64,200 207,600 Mineral Resources for Lead and Zinc Zones as of December 31, 2011: Notes to Resource Tables: 1. CIM definitions apply 2. Mined tonnages deducted 3. Resources are rounded to nearest 10,000 tonnes 4. Cut-off grades are based on mining, processing and G & A costs of $38/t 5. Technical report filed on August 16, 2012 at www.sedar.com
  35. 35. ENDNOTES AND CAUTIONARY STATEMENTS Alex Zhang, P. Geo., is the Qualified Person within the meaning of National Instrument 43-101 – Standards Of Disclosure for Mineral Projects (“NI 43-101”) who supervised the preparation of the scientific and technical information of Silvercorp included in this presentation. For more information on Silvercorp’s projects, readers should refer to Silvercorp’s Annual Information Form, dated June 16, 2016, and its technical reports, each of which is available on SEDAR at www.sedar.com. The scientific and technical information related to Silvercorp’s projects included in this investor presentation are derived from the technical reports entitled: - NI 43-101 Technical Report for Ying Gold-Silver-Lead-Zinc Property, Henan Province, China, effective date 31 December, 2016 by P R Stephenson, P. Geo., H A Smith, P.Eng., A Ross, P. Geo, H Muller, Beng, MAusIMM, CP - Technical Report for BYP Gold-Lead-Zinc Property, Hunan Province, China, effective date 30 June, 2012, prepared by P R Stephenson, P. Geo., H A Smith, P.Eng., A Riles, MAIG, M Molavi, P.Eng, D. Nussipakynova, P.Geo., A. Ross, P.Geo. - NI 43-101 Technical Report on the GC Ag-Zn-Pb Project in Guangdong Province, People’s Republic of China, effective date 23 January, 2012, prepared by Brian O’Connor, P. Geo, Peter Mokos, MAusIMM (CP), Alan Riles, MAIG, Owen Watson, MAusIMM (CP), Mo Molavi, P. Eng, Patrick Stephenson, P. Geo, AMC Mining Consultants (Canada) Ltd. 35SVM:TSX/NYSE AMERICAN
  36. 36. SVM:TSX/NYSE AMERICAN 36 Suite #1378 - 200 Granville St., Vancouver, BC, Canada V6C 1S4 Tel: 604-669-9397 Fax: 604-669-9387 Toll-Free: 1-888-224-1881 HEAD OFFICE Silvercorp’s disclosure documents are available from the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com SVM:TSX/NYSE AMERICAN investor@silvercorp.ca www.silvercorp.ca

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