BYP Mine

Notes:

1. The Statement of Estimates of Mineral Resources has been compiled under direction of Mr. Bob Dennis, who is a fulltime employee of RPM and Member of the Australian Institute of Geoscientists and have sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity that they have undertaken to qualify as a Qualified Person as defined in the CIM Standards of Disclosure.
2. All Mineral Resources figures reported in the table above represent estimates based on drilling completed up to 30th Nov 2018. Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results. The totals contained in the above table have been rounded to reflect the relative uncertainty of the estimate. Rounding may cause some computational discrepancies.
3. Silvercorp owns 70% equity interest of BYP Au-Pb-Zn Project whose whole resource is reported as above tables.
4. Pb Equivalent (PbEq) calculated using long term "Energy & Metals Consensus Forecasts" January, 2019 average of USD$1,490/t for Au, USD$2,280/t for Pb, USD$2,760/t for Zn (increasing 20% by prediction) and processing recovery of 87.41% Au, 85.87% Pb and 92.71% Zn based on 2018 BYP development and utilization plan report. Based on grades and contained metal for Au, Pb and Zn, it is assumed that all commodities have reasonable potential to be economically extractable. a. The formulas used for equivalent grade is: PbEq= Pb + Zn*1.3069 + Au*2.1386 b. The formula used for Au ounces is: Au Oz = [Tonnage x Au grade (g/t)]/31.1035.
5. Mineral Resources are reported on a dry in-situ basis.
6. The overlapped areas were reported inside lead and zinc resource table based on Pbeq cut-off.
7. Mineral Resources are reported at a 1.6 g/t Au cut-off and 3% Pb equivalent cut-off. Cut-off parameters were selected based on an RPM internal cut-off calculator in which the gold price of USD$1,490 per ounce, Lead price of USD$2,280/t and Zinc price of USD$2,760/t, inflated to 120% of prices from "Energy & Metals Consensus Forecasts", to reflect long term price movements were applied, and the mining cost of USD$35 per ton, processing cost of USD$13.3 per ton milled and processing recovery of 87.41% Au, 85.87% Pb and 92.71% Zn based on 2018 BYP development and utilization plan report were applied.
8. No mining license depth limit was applied for the Mineral Resource reporting. Any new mining license will introduce a depth limit for Mineral Resource reporting.
9. The Mineral Resources referred to above, have not been subject to detailed economic analysis and therefore, have not been demonstrated to have actual economic viability.