Last modified on June 27, 2024.
DISCLAIMERS
Silvercorp Metals Inc. (“Silvercorp” or the “Company”) updates the information on the website regularly. The content and information on this website are provided “as is" and “as available”. The content is believed to be accurate when it was posted on this website. However, such information is not intended to be a comprehensive review of all matters and developments concerning Silvercorp, and Silvercorp cannot always guarantee the accuracy or completeness of the information and assumes no responsibility in this regard. Unless otherwise indicated, all information posted on this website is current only as of the date of the document that contains the information, the date on which the document is posted (if indicated), or to the time period to which the document or material relates, whichever is earlier. Silvercorp may at any time make changes to the information on this website without prior notice.
The information contained in or accessible through this website is for information purposes only and is not intended to and does not constitute an offer or a solicitation of an offer for the purchase and sale of securities in any jurisdiction. None of the information contained herein is intended to be, and shall not be deemed to be incorporated into any of the Company’s or its affiliates’ securities-related filings or documents.
The Company does not warrant or make any representations regarding the use, or the results of the use of any content in terms of completeness, correctness, accuracy, reliability, usefulness, timeliness, reliability or otherwise. The information and other content on the website are not meant to modify, qualify, supplement or amend information disclosed by or on behalf of the Company under corporate, securities or other legislation in any jurisdiction, and should not be used to make investment decisions involving the Company’s securities.
Cautionary Note on Forward-Looking Statements
Certain statements and information on the website constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and also are “forward-looking information” within the meaning of applicable Canadian provincial securities laws (collectively, “forward-looking statements or information”).
All statements, other than statements of historical facts are forward-looking statements.
Forward-looking statements or information include, but are not limited to, information concerning mineral resource and mineral reserve estimates to the extent that they involve estimates of the mineralization that will be encountered if the property is developed, any statements or information that express or involve discussions with respect to future operations, prospects, strategies, plans, projections, forecasts, financial conditions and economic performance, as well as intentions and objectives, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.
Forward-looking statements or information relate to, among other things: the price of silver, lead, zinc and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the Company’s guidance and outlook including estimated production from the Company’s mines in the Ying Mining District and from the GC Mine; information related to the proposed transaction between the Company and Adventus Mining Corporation; availability of funds from production to finance the Company’s operations; access to and availability of funding for future construction and development of the Company’s properties or for acquisitions; future profitability, cash flow, growth, mine life, dividends, mergers or acquisition, and other forecasts and predictions with respect to the Company and its properties.
Forward-looking statements are based on the opinions, assumptions, factors and estimates of management considered reasonable at the date the statements are made. The opinions, assumptions, factors and estimates which may prove to be incorrect, include, but are not limited to, the expectations and beliefs of management; that prices for minerals, particularly silver, gold, lead and zinc remain consistent with the Company’s expectations; that there are no significant disruptions affecting operations, including labour disruptions, supply disruptions, power disruptions, security disruptions, damage to or loss of equipment, whether due to flooding, political changes, title issues, intervention by local communities, environmental concerns, pandemics (including COVID-19) or otherwise; that operations, development and exploration at the Company’s projects proceed on a basis consistent with expectations and the Company does not change its development and exploration plans and forecasts; that prices for key mining supplies, including labour costs and consumables remain consistent with the Company’s current expectations; that plant, equipment and processes will operate as anticipated; that there are no material variations in the current tax and regulatory environment or the tax positions taken by the Company; that the Company will maintain access to surface rights; that the Company will be able to obtain and maintain government approvals, permits and licenses in connection with its current and planned operations, development and exploration activities; that the Company is able to meet current and future obligations; and that the Company can access adequate financing, appropriate equipment and sufficient labour, all at acceptable rates.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to the matters described in the Company’s Annual Information Form (“AIF”) under Item 4.4 Risk Factors under the following headings: fluctuating commodity prices; recent market events and condition; estimation of mineral resources, mineral reserves and mineralization and metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; climate change; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into existing operations; permits and licences for mining and exploration in China; title to properties; non-controlling interest shareholders; acquisition of commercially mineable mineral rights; financing; competition; operations and political conditions; regulatory environment in China; regulatory environment and political climate in Bolivia; environmental risks; natural disasters; dependence on management and key personnel; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; conflicts of interest; internal control over financial reporting as per the requirements of the Sarbanes Oxley Act; outcome of current or future litigation or regulatory actions; bringing actions and enforcing judgments under U.S. securities laws; cyber-security risks; public health crises; the Company’s investment in New Pacific Metals Corp. and in Tincorp Metals Inc. (formerly Whitehorse Gold Corp.). This list of risk factors described in the Company’s AIF and other disclosure documents are not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated, described or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements or information involve statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s AIF under the heading “Risk Factors” and elsewhere, and the Company’s other public disclosure including but not limited to the Company’s Management Discussion & Analysis. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable as of the date of such disclosure, forward-looking statements are not guarantees of future performance. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
Cautionary Note to U.S. Investors Concerning Preparation of Mineral Resource and Mineral Reserve Estimates
Unless otherwise indicated, all reserve and resource estimates have been prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) — CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Standards”). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”), including under subpart 1300 of Regulation S-K (the “SEC 5 Modernization Rules”). Accordingly, reserve and resource information and other technical and scientific information included herein may not be comparable to similar information disclosed by U.S. companies.
Qualified Person (QP) Pursuant to Canadian National Instrument 43-101
The technical information contained on the website is reviewed and approved by Mr. Guoliang Ma, P.Geo., Manager of Exploration and Resources of Silvercorp and a Qualified Person for the purposes of NI 43-101.
Non-IFRS Measures
The website and the materials posted on it include certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including such as adjusted earnings and adjusted earnings per share, silver equivalent, cash cost per ounce of silver, net of byproduct credits, all-in sustaining cost per ounce of silver, net of by-product credits, production cost per tonne, and all-in sustaining production costs per tonne (“NON-IFRS measures”).
Non-IFRS measures do not have standardized meaning under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation, or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with the Company’s consolidated financial statements. Readers should refer to the Company’s most recently filed Management Discussion & Analysis, available under the Company’s corporate profile at www.sedarplus.ca and at www.sec.gov or on the website, for a more detailed discussion of how the Company calculates such measures and a reconciliation of certain measures to IFRS terms.
