NOVEMBER 26, 2012
VANCOUVER, BRITISH COLUMBIA — (MARKET WIRE) — 11/26/12 — Silvercorp Metals Inc. (“Silvercorp” or the “Company”) (TSX:SVM)(NYSE:SVM) is pleased to report results of the underground infill diamond drilling program for vein S7-1 (“S7-1”) which is the current main production vein at the SGX (Ying) mine (“SGX”), Ying Mining District, Henan Province, China.
Highlights of selected intercepts:
-- Hole ZK7AS7-103 intercepted a zone averaging 9.22m true width, grading
445 g/t Ag, 11.56% Pb and 2.80% Zn at the 445m elevation, including a
massive galena zone, 1.57m true width grading 1,496 g/t Ag, 39.12% Pb,
and 9.31% Zn;
-- Hole ZK9S7-123 intercepted a zone averaging 10.03m true width, grading
646 g/t Ag, 4,34% Pb and 1.32% Zn at the 477m elevation, including an
interval 1.42m true width grading 2,056 g/t Ag, 0.88% Pb and 1.98% Zn,
and a massive galena zone 1.32m true width grading 2,497 g/t Ag, 30.58%
Pb, and 4.58% Zn;
-- Cross cut tunnel CM101-S7-1-450-SYM-ECM intersected a zone 7.33m true
width grading 681 g/t Ag, 2.20% Pb and 3.13% Zn at the 450m level,
including an interval 1.30m true width, grading 3,137 g/t Ag, 0.14% Pb
and 0.38% Zn, and;
-- Hole ZK9S7-107 intercepted a zone averaging 4.40m true width, grading
378 g/t Ag, 6.87% Pb and 1.47% Zn at the 467 elevation, including a
massive galena zone, 0.62m true width grading 1,236 g/t Ag, 40.10% Pb,
and 6.23% Zn.
As recommended in the May 2012 NI 43-101 technical report prepared by AMC Consultants the cut-off grades in the mineral resource estimates for the Ying Mining District have been reduced (lowered to 150 grams per tonne (“g/t”) silver equivalent (“AgEq”) from 300 g/t AgEq at the SGX (Ying) mine, and 100 g/t AgEq from 150 g/t AgEq at HPG, LM and TLP mines). As a result, the more selective re-suing mining method, which follows narrow high grade sulfide (massive galena) zones, is gradually being phased out for the less selective, bulk shrinkage mining. This change will likely capture a greater proportion of the ore, lowering the cost of extraction per ounce, and increasing cost efficiency. To facilitate this change an intensive infill drilling program was initiated in July 2012, especially on S7-1 at the SGX mine to more clearly define the ore body boundary.
The infill drill program has systematically revealed the existence of alteration zones containing silver and low lead-zinc contents outside of higher grade silver-lead-zinc stringers (massive galena) within the vein structure of S7-1. One such example is cross-cut tunnel CM101-S7-1-450-SYM-ECM which cuts through S7-1 on the 450m level near Line 7+70 and intersected S7-1 averaging 7.33 metres (“m”) true width, grading 681 g/t silver (“Ag”), 2.20% lead (“Pb”), 3.13% zinc (“Zn”). Channel samples SG0755 and SG0756 occur just outside the narrow high sulfide zone (sample SG0757) and contain high-grade silver (up to 6,514 g/t) but almost no visually identifiable lead and zinc sulfides (0.14% Pb and 0.25% Zn).
Through observations made during the mining process, ore body boundaries can no longer be visually identified by the occurrences of lead and zinc sulfide as practiced previously (since the elevated silver content occurring in alteration rocks do not contain visually identifiable galena) and as such need to be identified using assay results. Individual sample assays from different drill holes listed in Table 1 below show that high silver low lead and zinc intercepts exist in almost every drill hole. This renewed understanding of geology, alteration, and mineralization of S7-1 and other veins at the SGX mine introduces the need for denser infill drilling of 25m by 40m spacing (previously 80m by 100m) and may have a positive impact on the future resource estimates.
Previously, stopes were designed to use the more selective re-suing method to mine the high galena zones within the S7-1 structure. Denser infill drilling (15m by 20m) and cross cut tunnelling was completed for a mineralized block of S7-1 between the 490m to 450m levels and the exploration lines 7+40 to 9+20, resulting in a much wider ore body with separate high silver-lead-zinc and high silver zones. The average true width of the eight drill holes (ZK9S7-104, ZK9S7-107, ZK9S7-123, ZK9S7-111, ZK9S7-152, ZK9S7-153, ZK7AS7-150, and ZK07AS7-103) and two cross cut tunnels (CM101-450-S7-1-ECM3 and CM101-450-S7-1-ECM) of the block is 5.49m grading 357g/t Ag, 3.95% Pb, and 2.51% Zn. As a result of this dense infill drilling and cross cut tunnelling, a much wider ore body with lower grades was defined and therefore the shrinkage mining method will be used to mine the stopes.
Since August 1, 2012 (when the Company last reported exploration results for SGX), 5,966m of drilling in 33 drill holes has been completed for S7-1 using eight drill rigs. Assay results for 14 of the 20 holes intercepted significant high grade silver-lead-zinc mineralization with the results for the remaining holes pending. Currently, 33 underground and three surface drill rigs are completing infill drilling at the different mines in the Ying Mining District.
Table 1: Selected drill hole and cross cut tunnel assay results from the S7-1 vein at the SGX mine
----------------------------------------------------------------------------
Drill Hole/ Horizontal
Exploration Cross Cut Sample From To Interval Width
Line Tunnel No (m) (m) (m) (m)
----------------------------------------------------------------------------
1 ZK0110 K588062 275.59 277.02 1.42 0.83
1 ZK0110 K588063 277.02 278.11 1.09 0.63
1 ZK0110 K588064 278.11 278.48 0.37 0.22
1 ZK0110 K588065 278.48 280.40 1.92 1.12
1 ZK0110 K588066 280.40 282.12 1.72 1.00
1 ZK0110 K588067 282.12 282.79 0.67 0.39
1 ZK0110 K588068 282.79 283.41 0.62 0.36
1 ZK0110 K588069 283.41 284.69 1.28 0.75
----------------------------------------------------------------------------
Weighted
Average 275.59 284.69 9.09 5.30
----------------------------------------------------------------------------
5 ZK05S7-102 M800544 246.87 247.63 0.76 0.49
5 ZK05S7-102 M800545 247.63 249.01 1.38 0.90
----------------------------------------------------------------------------
Weighted
Average 246.87 249.01 2.14 1.39
----------------------------------------------------------------------------
7+50 ZK7AS7-150 M800721 37.10 38.20 1.10 0.95
7+50 ZK7AS7-150 M800722 38.20 39.80 1.60 1.29
7+50 ZK7AS7-150 M800723 39.80 41.30 1.60 1.30
7+50 ZK7AS7-150 M800724 41.30 42.80 1.50 1.26
----------------------------------------------------------------------------
Weighted
Average 37.10 42.80 5.80 4.80
----------------------------------------------------------------------------
7+50 ZK07AS7-103 K590636 202.45 203.56 1.12 0.80
7+50 ZK07AS7-103 K590637 203.56 204.73 1.16 0.83
7+50 ZK07AS7-103 K590638 204.73 205.72 0.99 0.70
7+50 ZK07AS7-103 K590639 205.72 207.24 1.52 1.08
7+50 ZK07AS7-103 K590640 207.24 209.13 1.90 1.35
7+50 ZK07AS7-103 K590641 209.13 211.04 1.91 1.35
----------------------------------------------------------------------------
Weighted
Average 37.10 209.13 12.49 9.56
-----------------------------------------
including 203.56 204.73 2.28 1.63
----------------------------------------------------------------------------
7+60 ZK9S7-151 M802720 67.15 67.88 0.73 0.67
7+60 ZK9S7-151 M802721 67.88 70.15 2.27 2.06
----------------------------------------------------------------------------
Weighted
Average 67.15 70.15 3.00 2.73
----------------------------------------------------------------------------
7+60 ZK9S7-152 K590610 33.65 34.84 1.19 1.13
----------------------------------------------------------------------------
----------------------------------------------------------------------------
7+60 ZK9S7-153 M800657 31.87 34.09 2.23 1.69
7+60 ZK9S7-153 M800658 34.09 34.84 0.74 0.57
7+60 ZK9S7-153 M800659 34.84 36.08 1.25 0.95
7+60 ZK9S7-153 M800660 36.08 37.34 1.26 0.96
7+60 ZK9S7-153 M800661 37.34 39.29 1.94 1.48
7+60 ZK9S7-153 M800662 39.29 39.87 0.58 0.44
----------------------------------------------------------------------------
Weighted
Average 31.87 39.87 8.00 6.09
----------------------------------------------------------------------------
7+60 ZK9S7-154 M800706 36.88 37.65 0.77 0.63
7+60 ZK9S7-154 M800707 37.65 39.44 1.79 1.47
7+60 ZK9S7-154 M800708 39.44 41.21 1.77 1.45
7+60 ZK9S7-154 M800709 41.21 42.03 0.82 0.67
7+60 ZK9S7-154 M800710 42.03 42.80 0.77 0.63
7+60 ZK9S7-154 M800711 42.80 44.32 1.52 1.25
----------------------------------------------------------------------------
Weighted
Average 36.88 44.32 7.44 6.10
----------------------------------------------------------------------------
7+80 ZK9S7-123 K590115 23.24 23.75 0.51 0.47
7+80 ZK9S7-123 K590116 23.75 25.27 1.52 1.40
7+80 ZK9S7-123 K590117 25.27 26.87 1.60 1.47
7+80 ZK9S7-123 K590118 26.87 28.86 1.99 1.83
7+80 ZK9S7-123 K590119 28.86 30.31 1.45 1.34
7+80 ZK9S7-123 K590120 30.31 31.97 1.66 1.53
7+80 ZK9S7-123 K590121 31.97 33.46 1.49 1.37
7+80 ZK9S7-123 K590122 33.46 34.55 1.09 1.00
----------------------------------------------------------------------------
Weighted
Average 23.24 34.55 11.31 10.41
-----------------------------------------
including 25.27 26.87 1.60 1.47
-----------------------------------------
including 31.97 33.46 1.49 1.37
----------------------------------------------------------------------------
7+80 ZK9S7-111 M846709 24.68 26.29 1.61 1.40
7+80 ZK9S7-111 M846710 26.29 27.78 1.49 1.30
7+80 ZK9S7-111 M846711 27.78 28.94 1.16 1.01
7+80 ZK9S7-111 M846712 28.94 30.04 1.10 0.96
7+80 ZK9S7-111 M846713 30.04 31.10 1.06 0.92
7+80 ZK9S7-111 M846714 31.10 32.36 1.26 1.10
7+80 ZK9S7-111 M846715 32.36 33.50 1.14 0.99
7+80 ZK9S7-111 M846716 33.50 34.71 1.21 1.05
7+80 ZK9S7-111 M846717 34.71 36.25 1.54 1.34
7+80 ZK9S7-111 M846718 36.25 37.73 1.48 1.29
----------------------------------------------------------------------------
Weighted
Average 24.68 37.73 13.05 11.36
----------------------------------------------------------------------------
7+80 ZK9S7-124 K590327 36.90 37.60 0.70 0.71
7+80 ZK9S7-124 K590328 37.60 39.10 1.50 1.53
----------------------------------------------------------------------------
Weighted
Average 36.90 39.10 2.20 2.24
----------------------------------------------------------------------------
7+80 ZK9S7-125 K590140 49.79 51.37 1.58 1.01
7+80 ZK9S7-125 K590141 51.37 52.81 1.44 0.92
----------------------------------------------------------------------------
Weighted
Average 49.79 52.81 3.02 1.93
----------------------------------------------------------------------------
9 ZK9S7-104 K590284 198.57 199.59 1.02 0.95
----------------------------------------------------------------------------
----------------------------------------------------------------------------
9 ZK9S7-107 M802516 42.08 43.55 1.47 1.12
9 ZK9S7-107 M802517 43.55 44.51 0.96 0.73
9 ZK9S7-107 M802518 44.51 45.73 1.22 0.93
9 ZK9S7-107 M802519 45.73 46.57 0.84 0.64
9 ZK9S7-107 M802520 46.57 48.07 1.50 1.14
----------------------------------------------------------------------------
Weighted
Average 42.08 48.07 5.99 4.56
-----------------------------------------
including 45.73 46.57 0.84 0.64
----------------------------------------------------------------------------
7+50 CM101-S7-1-
450-SYM-ECM3 SG1224 1.10 1.60 0.50 0.50
7+50 SG1223 0.70 1.10 1.10 0.40
7+50 SG1222 0.00 0.70 0.70 0.70
7+50 SG1205 0.00 0.50 0.50 0.50
7+50 SG1206 0.50 1.50 1.50 1.00
7+50 SG1207 1.50 2.50 2.50 1.00
----------------------------------------------------------------------------
Weighted
Average 4.10 4.10
----------------------------------------------------------------------------
7+70 CM101-S7-1-
450-SYM-ECM SG0755 9.55 10.45 0.90 0.90
7+70 SG0756 10.45 11.05 0.60 0.60
7+70 SG0757 11.05 11.23 0.18 0.18
7+70 SG0758 11.23 11.83 0.60 0.60
7+70 SG0759 11.83 12.43 0.60 0.60
7+70 SG0760 12.43 13.03 0.60 0.60
7+70 SG0761 13.03 13.63 0.60 0.60
7+70 SG0762 13.63 14.23 0.60 0.60
7+70 SG0763 14.23 14.83 0.60 0.60
7+70 SG0764 14.83 15.43 0.60 0.60
7+70 SG0765 15.43 16.03 0.60 0.60
7+70 SG0766 16.03 16.81 0.78 0.78
7+70 SG0767 16.81 17.41 0.60 0.60
7+70 SG0768 17.41 18.01 0.60 0.60
----------------------------------------------------------------------------
Weighted
Average 9.55 18.01 8.46 8.46
-----------------------------------------
including 9.55 11.05 1.50 1.50
-----------------------------------------
including 11.05 11.23 0.18 0.18
----------------------------------------------------------------------------
----------------------------------------------------------------------------
True
Exploration Width Elevation Ag Pb Zn
Line (m) (m) (g/t) (%) (%)
----------------------------------------------------------------------------
1 0.78 212 151 0.15 0.06
1 0.60 211 8 0.12 0.02
1 0.20 210 636 30.62 0.18
1 1.05 209 14 0.40 0.10
1 0.94 207 13 0.24 0.09
1 0.37 206 1186 59.86 0.87
1 0.34 206 583 6.16 0.65
1 0.70 205 56 0.93 0.25
----------------------------------------------------------------------------
Weighted
Average 4.98 207 191 6.39 0.20
----------------------------------------------------------------------------
5 0.47 504 1315 0.42 4.22
5 0.87 503 234 0.27 3.35
----------------------------------------------------------------------------
Weighted
Average 1.34 503 615 0.32 3.65
----------------------------------------------------------------------------
7+50 0.91 488 48 4.17 0.89
7+50 1.25 488 7 0.30 0.62
7+50 1.25 487 258 0.61 0.67
7+50 1.22 487 16 0.25 4.30
----------------------------------------------------------------------------
Weighted
Average 4.63 488 85 1.14 1.65
----------------------------------------------------------------------------
7+50 0.77 475 268 0.24 0.28
7+50 0.80 474 2166 59.29 11.75
7+50 0.68 473 906 20.56 7.68
7+50 1.04 472 47 4.48 0.75
7+50 1.30 470 4 0.16 0.24
7+50 1.31 468 12 1.32 0.47
----------------------------------------------------------------------------
Weighted
Average 9.22 475 445 11.56 2.80
---------------------------------------------------------------
including 1.57 474 1496 39.12 9.31
----------------------------------------------------------------------------
7+60 0.64 509 382 3.38 17.92
7+60 1.99 510 113 0.28 0.28
----------------------------------------------------------------------------
Weighted
Average 2.63 510 179 1.04 4.61
----------------------------------------------------------------------------
7+60 1.09 485 634 2.69 3.62
----------------------------------------------------------------------------
----------------------------------------------------------------------------
7+60 1.64 472 174 0.11 0.14
7+60 0.55 472 522 18.54 13.58
7+60 0.92 471 16 0.10 0.54
7+60 0.92 470 3 0.03 0.05
7+60 1.43 469 7 0.10 0.23
7+60 0.43 468 40 0.25 15.37
----------------------------------------------------------------------------
Weighted
Average 5.89 470 105 1.83 2.57
----------------------------------------------------------------------------
7+60 0.61 443 206 0.17 0.39
7+60 1.42 442 5 0.09 0.11
7+60 1.41 442 22 0.06 0.17
7+60 0.65 442 46 2.77 2.50
7+60 0.61 441 1377 56.31 7.76
7+60 1.21 441 262 1.44 1.98
----------------------------------------------------------------------------
Weighted
Average 5.91 442 229 6.47 1.59
----------------------------------------------------------------------------
7+80 0.45 480 240 0.14 2.08
7+80 1.35 480 less than 2.0 less than 0.005 0.01
7+80 1.42 479 2056 0.88 1.98
7+80 1.76 478 33 0.33 0.50
7+80 1.29 477 16 0.25 0.91
7+80 1.47 476 11 0.27 0.66
7+80 1.32 475 2497 30.58 4.58
7+80 0.97 474 71 0.55 0.43
----------------------------------------------------------------------------
Weighted
Average 10.03 477 646 4.34 1.32
---------------------------------------------------------------
including 1.42 479 2056 0.88 1.98
---------------------------------------------------------------
including 1.32 475 2497 30.58 4.58
----------------------------------------------------------------------------
7+80 1.35 473 135 1.96 7.50
7+80 1.25 472 33 0.32 0.50
7+80 0.97 472 8 less than 0.10 less than 0.10
7+80 0.92 472 less than 5 less than 0.10 less than 0.10
7+80 0.89 471 8 less than 0.10 less than 0.10
7+80 1.06 471 19 0.41 0.59
7+80 0.96 470 less than 5 less than 0.10 less than 0.10
7+80 1.02 470 less than 5 less than 0.10 less than 0.10
7+80 1.29 469 52 0.12 less than 0.10
7+80 1.24 469 667 21.16 7.77
----------------------------------------------------------------------------
Weighted
Average 10.95 471 105 2.73 1.92
----------------------------------------------------------------------------
7+80 0.69 442 35 0.35 0.41
7+80 1.48 441 783 5.18 8.88
----------------------------------------------------------------------------
Weighted
Average 2.17 442 546 3.65 6.20
----------------------------------------------------------------------------
7+80 0.98 408 204 2.33 5.79
7+80 0.89 406 222 5.83 2.33
----------------------------------------------------------------------------
Weighted
Average 1.87 407 212 4.00 4.14
----------------------------------------------------------------------------
9 0.87 478 177 2.93 2.30
----------------------------------------------------------------------------
----------------------------------------------------------------------------
9 1.08 468 18 0.37 0.27
9 0.70 467 383 3.70 0.45
9 0.90 467 500 2.60 1.88
9 0.62 466 1236 40.10 6.23
9 1.10 465 149 0.13 0.28
----------------------------------------------------------------------------
Weighted
Average 4.40 467 378 6.87 1.47
---------------------------------------------------------------
including 0.62 466 1236 40.10 6.23
----------------------------------------------------------------------------
7+50 0.43 450 12 0.26 1.08
7+50 0.35 450 480 1.68 12.67
7+50 0.61 450 5 0.29 0.59
7+50 0.43 450 153 3.41 29.08
7+50 0.87 450 50 2.12 6.75
7+50 0.87 450 153 5.95 6.83
----------------------------------------------------------------------------
Weighted
Average 3.55 450 117 2.63 8.33
----------------------------------------------------------------------------
7+70 0.78 450 885 0.14 0.47
7+70 0.52 450 6514 0.14 0.25
7+70 0.16 450 2743 34.43 16.23
7+70 0.52 450 97 2.20 3.05
7+70 0.52 450 9 0.00 0.21
7+70 0.52 450 63 0.00 0.59
7+70 0.52 450 108 0.00 0.78
7+70 0.52 450 80 2.78 1.16
7+70 0.52 450 10 0.36 0.67
7+70 0.52 450 95 3.35 3.95
7+70 0.52 450 56 2.49 6.83
7+70 0.68 450 275 6.22 14.56
7+70 0.52 450 23 0.60 1.06
7+70 0.52 450 46 0.41 1.14
----------------------------------------------------------------------------
Weighted
Average 7.33 450 681 2.20 3.13
---------------------------------------------------------------
including 1.30 450 3137 0.14 0.38
---------------------------------------------------------------
including 0.16 450 2743 34.43 16.23
----------------------------------------------------------------------------
Quality Control
Drill cores are in NQ size. Drill core samples, limited by apparent mineralization contact or shear/alteration contact, were split into halves by saw cutting. The half cores are stored in the Company’s core shacks for future reference and checking with the remaining samples being shipped in security sealed bags to the Chengde Huakan 514 Geology and Minerals Testing and Research Institute in Chengde, China, 226km northeast of Beijing, an ISO 9000 certified analytical lab. The samples are dried and crushed to minus 1mm and then split to a 200-300g sub-sample which is further pulverized to minus 200 mesh. Two sub-samples are prepared from the pulverized sample; one is digested with aqua regia for gold analysis with AAS, and the other is digested with two-acids for analysis of silver, lead, zinc and copper.
Chip samples are collected along sample lines perpendicular to the mineralized vein structure in exploration tunnels. Spacing between sampling lines is typically 5m along strike. Both the mineralized vein and the altered wall rocks are cut with continuous chisel chipping. Sample length ranges from 0.2m to more than 1m, depending on the width of the mineralized vein and the mineralization type.
Chip samples are prepared and assayed with AAS at Silvercorp’s mine lab located at the mill complex in Luoning County, China. Samples are dried at 100 degrees to 105 degrees C in an oven and are then crushed and pulverized through three procedures: preliminary crushing, intermediate crushing, and final pulverizing. Sample splitting is conducted at each procedure. A 200g sample of minus 150 mesh (0.1 mm) is prepared for assay. A duplicate sample of minus 1mm is made and kept at the lab for archives. A 0.5g pulp sample is treated with two-acid digestion and assayed for silver, lead, zinc and copper with AAS at the lab.
A routine quality assurance and quality control procedure is adopted at each lab to monitor the analytical quality at the lab. Certified reference materials (CRM), pulp duplicates and blanks are inserted into each lab batch of samples. QA/QC data at the lab are attached to the assay certificates for each batch of samples.
The Company maintains a comprehensive quality assurance and quality control program to ensure best practices are effected for drill core sample preparation and analysis. Project geologists regularly insert CRM field duplicates and blanks to each batch of core samples to monitor the sample preparation and analysis procedures at the labs. The analytical quality of the labs is further evaluated with external checks by sending approximately 3% of the pulp samples to higher level labs to check for lab bias.
Data from both the Company’s and the labs’ QA/QC programs are timely reviewed and evaluated by project geologists.
Myles Gao , P. Geo., is the Qualified Person on the project as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.
About Silvercorp
Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in early 2013. The Company’s vision is to deliver shareholder value by focusing on the acquisition of under developed small-scale projects with resource potential and self-fund the growth of those assets. For more information, please visit our website at www.silvercorp.ca.
CAUTIONARY DISCLAIMER – FORWARD LOOKING STATEMENTS
Certain of the statements and information in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to 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 and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the sufficiency of the Company’s capital to finance the Company’s operations; estimates of the Company’s revenues and capital expenditures; estimated production from the Company’s mines in the Ying Mining Camp; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company’s operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company’s properties.
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: fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; First Nations title claims and rights; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company’s existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act; and bringing actions and enforcing judgments under U.S. securities laws.
This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are 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 Annual Information Form for the year ended March 31, 2012 under the heading “Risk Factors”. Although the Company 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, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, 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. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
Contacts: Silvercorp Metals Inc. Jonathan Hackshaw Director, Investor Relations (604) 669-9397 or Toll Free: 1 (888) 224-1881 [email protected] www.silvercorp.ca
