Silvercorp Metals Inc. is engaged in the acquisition, exploration, development and mining of high-grade silver-related mineral properties in China and Canada. Silvercorp is the largest primary silver producer in China through the operation of the four silver-lead-zinc mines at the Ying Mining District in the Henan Province of China. Silvercorp recently acquired the XBG + XHP silver-gold-lead-zinc projects nearby the Ying Mining District in Henan Province, further consolidating the region. Silvercorp has commenced production at its second production foothold in China, the BYP gold-lead-zinc project in Hunan Province, and is currently building the GC silver-lead-zinc project in Guangdong Province as its third China production base. In Canada, Silvercorp is preparing to apply for a Small Mine Permit for the Silvertip high grade silver-lead-zinc mine project in northern British Columbia to provide a further platform for growth and geographic diversification. The Company's shares are traded on the New York Stock Exchange and Toronto Stock Exchange and are included as a component of the S&P/TSX Composite and the S&P/TSX Global Mining Indexes.

Silvercorp today is China's largest primary silver producer and has achieved an enviable five-year track record of being the lowest cost producer of silver among its industry peers. In the Second Quarter of FY2012 (ended September 30, 2011), the company produced 1.4 million ounces of silver at a cash cost of negative $4.55 per ounce. At the same time, the company is growing its resource base through continuous exploration of existing projects as well as seeking to acquire new development projects in multiple jurisdictions. It is one of only a handful of precious metals producers to pay shareholders a dividend (C$0.025 per share per quarter).

Now with US$176.7-million in cash, no long-term debt, strong operations and the lowest production costs among its global industry peers, Silvercorp sees today’s unprecedented market volatility as one ripe with opportunities to grow its business in the long term.