Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Corporate Presentation
September 29, 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
Q1 FY2018: 1.3Moz Silver
Q1 FY2018: 14.5Mlbs Pb+Zn
GC Project...
STRONG BALANCE SHEET
Quarter Ended
June 30, 2017
(millions US$)
Quarter Ended
June 30, 2016
(millions US$)
▸ Revenue $39.7...
HIGH PROFIT MARGIN SILVER PRODUCER
SVM:TSX/NYSE AMERICAN 5
Q1 Fiscal Year 2018 Results
Q1 FY2018 Sales Mix by MetalLow cos...
LOWEST ALL IN SUSTAINING COSTS
SVM:TSX/NYSE AMERICAN 6
$4.70
$7.56
$14.58
$15.73
$20.46
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18...
IMPROVING HEAD GRADES
SVM:TSX/NYSE AMERICAN 7
CONSOLIDATED NET PROFIT PER TONNE
SVM:TSX/NYSE AMERICAN 8
10
11
12
13
14
15
16
17
18
 (15)
 35
 85
 135
 185
 235
Q1 Q2 Q3...
ROBUST NET REALIZED LEAD SELLING PRICE
SVM:TSX/NYSE AMERICAN 9
 Silvercorp Net Realized Lead Selling Price on September 2...
ENTERPRISE BLOG: A PRODUCTIVITY TOOL
Improvement in the head grades of metals can be attributed in part to an internal “En...
ENTERPRISE BLOG: A PRODUCTIVITY TOOL
SVM:TSX/NYSE AMERICAN 11
This supporting photo posted by an onsite
technician clearly...
ENTERPRISE BLOG: A PRODUCTIVITY TOOL
Benefits of the “Enterprise Blog”
▸ Information collection, distribution, retrieval, ...
YING MINING DISTRICT: SILVERCORP’S FLAGSHIP ASSET
▸ Flagship Ying District consists of underground mines (SGX, TLP, LM, an...
GC MINE IN GUANGDONG
Our Newest Mine
▸ Initial production start 2014
▸ Underground silver/zinc mine
▸ Excellent infrastruc...
BYP GOLD MINE – A NON-CORE ASSET
Status:
▸ Suspended mining operations in
August 2014
▸ Capital requirements for
upgrades ...
SILVER PRODUCTION: 52.6 MILLION OUNCES TO DATE
SVM:TSX/NYSE AMERICAN 16
LEAD + ZINC PRODUCTION
SVM:TSX/NYSE AMERICAN 17
Over 773 Million Pounds to Date
GROWTH OF REMAINING RESERVES & RESOURCES
SVM:TSX/NYSE AMERICAN 18
1 Excludes Lead and Zinc. Gold was converted to Silver e...
FY 2018 GUIDANCE
SVM:TSX/NYSE AMERICAN 19
FY2018 Guidance + 3 Month Actual*
Project
Ying Mining District GC Mine Grand Tot...
FY2018 CAPITAL EXPENDITURE GUIDANCE
SVM:TSX/NYSE AMERICAN 20
(CURRENT FISCAL YEAR ENDING MAR 31, 2018)*
Mines/
Projects
Mi...
APPENDICES
SVM:TSX/NYSE AMERICAN 21
APPENDIX I:
SVM:TSX/NYSE AMERICAN 22
OWNERSHIP AND COVERAGE
Ownership
Analyst Coverage
Chris Thompson Raymond James
Top 10...
APPENDIX II
SVM:TSX/NYSE AMERICAN 23
MANAGEMENT & BOARD
Management
Rui Feng, Ph.D., Geology
Chairman and CEO, Director
Der...
APPENDIX III:
SVM:TSX/NYSE AMERICAN 24
SUMMARY OF SILVER RESERVES1
Project
Reserve
Category
Tonnes
(Million)
Average Grade...
APPENDIX IV:
SVM:TSX/NYSE AMERICAN 25
SUMMARY OF SILVER RESOURCES1
Project
Resource
Category
Tonnes
(Million)
Average Grad...
APPENDIX V:
SVM:TSX/NYSE AMERICAN 26
BYP MINE RESOURCE
CLASS
Cut-off Grades
(g/t)
Resource Grades
Contained Metal
Resource...
KEY GROWTH CATALYSTS
Ying Mining District :
▸ More efficient and lower cost mining
▸ Reduced management overhead and great...
ENDNOTES AND CAUTIONARY STATEMENTS
Alex Zhang, P. Geo., Vice President of Exploration, is the Qualified Person within the ...
SVM:TSX/NYSE AMERICAN 29
Suite #1378 - 200 Granville St., Vancouver, BC, Canada V6C 1S4
Tel: 604-669-9397
Fax: 604-669-938...
Upcoming SlideShare
Loading in …5
×

SVM PPT Sep 29

354 views

Published on

SVM PPT Sep 29

Published in: Business
  • Be the first to comment

  • Be the first to like this

SVM PPT Sep 29

  1. 1. Corporate Presentation September 29, 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 MKT (NYSE MKT: 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 Q1 FY2018: 1.3Moz Silver Q1 FY2018: 14.5Mlbs Pb+Zn GC Project, Guangdong Province Q1 FY2018: 0.2Moz Silver Q1 FY 2018: 6.4Mlbs Pb+Zn BYP Mine, Hunan Province (On Care and Maintenance) 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 Gold Mine Resource. See appendix III-V for breakout. 2 M&I, Inclusive of Reserves 3 Excludes Gold Equivalent CHINA’S LARGEST PRIMARY SILVER PRODUCER
  4. 4. STRONG BALANCE SHEET Quarter Ended June 30, 2017 (millions US$) Quarter Ended June 30, 2016 (millions US$) ▸ Revenue $39.7 $35.3 ▸ Gross Profit $20.0 $15.7 ▸ Net Income $10.9** $4.7** ▸ Cash Flow from Operations $16.9 $20.2 ▸ Cash, equivalents & short-term investments: $102.1 Million, an increase of $28.66 million from fiscal Q1 2017 ▸ Reinstatement of dividend CAD$0.02/year* ▸ No Receivables (Smelters pay for concentrate in advance) ▸ No Long-term Debt SVM:TSX/NYSE AMERICAN 4 * Dividend of US$0.01 per share was paid on or before June 30th, 2017 ** Net income attributable to equity shareholders
  5. 5. HIGH PROFIT MARGIN SILVER PRODUCER SVM:TSX/NYSE AMERICAN 5 Q1 Fiscal Year 2018 Results Q1 FY2018 Sales Mix by MetalLow cost producer of silver - cash cost of negative $3.57** per Ag ounce for Q1 FY2018* * Silvercorp reported Q1 FY2018 ended June 30, 2017 Peers- First Majestic, Endeavor Silver and Coeur Mining reported Q2 2017 ended on June 30, 2017 Fortuna reported Q1 2017 ended on March 31, 2017 ** Net of by-product credits. AISCC of $4.70 per Oz Silver 51% Gold 2% Lead 34% Zinc 12% Other 1%
  6. 6. LOWEST ALL IN SUSTAINING COSTS SVM:TSX/NYSE AMERICAN 6 $4.70 $7.56 $14.58 $15.73 $20.46 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 $22 AISCC* * Silvercorp reported Q1 FY2018 ended June 30, 2017 Peers- Endeavor Silver, Coeur Mining and First Majestic reported Q2 2017 ended on June 30, 2017 Fortuna reported Q1 2017 ended on March 31, 2017 ** Net of by-product credits. AISCC of $4.70 per Oz $CostperOzSilver
  7. 7. IMPROVING HEAD GRADES SVM:TSX/NYSE AMERICAN 7
  8. 8. CONSOLIDATED NET PROFIT PER TONNE SVM:TSX/NYSE AMERICAN 8 10 11 12 13 14 15 16 17 18  (15)  35  85  135  185  235 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Fiscal 2015 Fiscal 2016 Fiscal 2017 Fiscal 2018 P e r O z S i l v e r P r i c e P e r t o n n e v a l u e Consolidated Net Profit Per Tonne Revenue per tonne ($/t) AISC per tonne ($/t) Profit per tonne ($/t) Net realized silver selling price ($/oz)
  9. 9. ROBUST NET REALIZED LEAD SELLING PRICE SVM:TSX/NYSE AMERICAN 9  Silvercorp Net Realized Lead Selling Price on September 22, 2017 was $1.18/lb  London Metal Exchange Lead Spot Selling Price on September 22, 2017 was $1.12/lb SHMET Lead Price (September 22, 2017) 21,050 RMB/mt Smelter Deduction (-) 1,300 RMB/mt Value Added Tax at 17% 2,870 RMB/mt Net Realized Lead Selling Price/RMB/mt 16,880 RMB/mt Net Realized Lead Selling Price/RMB/lb (1mt=2202 lb) 7.672 Net Realized Lead Selling Price/US$/lb (1US$=6.5RMB) $1.18
  10. 10. ENTERPRISE BLOG: A PRODUCTIVITY TOOL 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 10 REDUCES DILUTION & IMPROVES SAFETY
  11. 11. ENTERPRISE BLOG: A PRODUCTIVITY TOOL SVM:TSX/NYSE AMERICAN 11 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 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. This supporting photo posted by frontline technicians shows an inspected stope with clearly marked ore boundaries and drill hole locations.
  12. 12. 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 12 ▸ 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.
  13. 13. YING MINING DISTRICT: 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 13 ▸ Extensive underground drilling has increased mine life to 20 years ▸ Has 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 ▸ Producing silver-lead and zinc concentrates ▸ 6 smelters within 200km of the district ▸ Opportunity for further acquisitions in local area
  14. 14. GC MINE IN GUANGDONG Our Newest Mine ▸ Initial production start 2014 ▸ Underground silver/zinc mine ▸ Excellent infrastructure and access ▸ Profitable operations SVM:TSX/NYSE AMERICAN 14 Main Access RampMain Access Ramp
  15. 15. BYP GOLD MINE – A NON-CORE ASSET 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 SVM:TSX/NYSE AMERICAN 15 500 tpd Mill at the BYP Mine500 tpd Mill at the BYP Mine
  16. 16. SILVER PRODUCTION: 52.6 MILLION OUNCES TO DATE SVM:TSX/NYSE AMERICAN 16
  17. 17. LEAD + ZINC PRODUCTION SVM:TSX/NYSE AMERICAN 17 Over 773 Million Pounds to Date
  18. 18. GROWTH OF REMAINING RESERVES & RESOURCES SVM:TSX/NYSE AMERICAN 18 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
  19. 19. FY 2018 GUIDANCE SVM:TSX/NYSE AMERICAN 19 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
  20. 20. FY2018 CAPITAL EXPENDITURE GUIDANCE SVM:TSX/NYSE AMERICAN 20 (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.
  21. 21. APPENDICES SVM:TSX/NYSE AMERICAN 21
  22. 22. APPENDIX I: SVM:TSX/NYSE AMERICAN 22 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%
  23. 23. APPENDIX II SVM:TSX/NYSE AMERICAN 23 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
  24. 24. APPENDIX III: SVM:TSX/NYSE AMERICAN 24 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)
  25. 25. APPENDIX IV: SVM:TSX/NYSE AMERICAN 25 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).
  26. 26. APPENDIX V: SVM:TSX/NYSE AMERICAN 26 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
  27. 27. KEY GROWTH CATALYSTS Ying Mining District : ▸ More efficient and lower cost mining ▸ Reduced management overhead and greater incentives ▸ Longer term opportunity to increase mining capacity to match milling capacity ▸ Further near district acquisitions GC Project: ▸ Commercial production underway ▸ Fine tuning operations to improve efficiencies and lower costs ▸ Continue exploration to expand resources Growth: ▸ Grow existing assets organically through land expansion and drilling ▸ Acquire under‐explored, smaller‐scale mining projects, ideally in Asia, with resource  growth potential  ▸ BYP  27SVM:TSX/NYSE AMERICAN
  28. 28. ENDNOTES AND CAUTIONARY STATEMENTS Alex Zhang, P. Geo., Vice President of Exploration, 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. 28SVM:TSX/NYSE AMERICAN
  29. 29. SVM:TSX/NYSE AMERICAN 29 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

×