Trading Symbols: SVM (TSX/NYSE American)
VANCOUVER, BC, Sept. 16,
2024 /PRNewswire/ - Silvercorp Metals Inc.
("Silvercorp" or the "Company") (TSX:
SVM) (NYSE American: SVM) announces that,
further to its news release dated August 27,
2024 (the "Release"), it has filed an updated technical
report for the Gaocheng Mine titled "Technical Report
on Gaocheng Silver-Lead-Zinc Project in
Guangdong Province,
China" (the "Technical Report").
The Technical Report is effective June 30,
2024 and was prepared by SRK Consulting China
Ltd.
The Technical Report was prepared in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral
Projects ("NI 43-101") and can be found on the Company's
website at www.silvercorpmetals.com and under the Company's profile
at www.sedarplus.ca.
There are no material differences in the information in the
Technical Report and the information contained in the Release.
About Silvercorp
Silvercorp is a Canadian mining company producing silver, gold,
lead, and zinc with a long history of profitability and growth
potential. The Company's strategy is to create shareholder value by
1) focusing on generating free cashflow from long-life mines; 2)
organic growth through extensive drilling for discovery; 3) ongoing
merger and acquisition efforts to unlock value; and 4) a long-term
commitment to responsible mining and ESG. For more information,
please visit our website at www.silvercorpmetals.com.
For further information:
Silvercorp Metals
Inc.
Lon Shaver
President
Phone: (604)
669-9397
Toll Free 1(888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorpmetals.com
CAUTIONARY DISCLAIMER - FORWARD-LOOKING
STATEMENTS
Certain of the statements and information in this news
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 (collectively,
"forward‐looking
statements"). 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.
Forward‐looking statements relate to, among other
things: the price of silver and other metals; foreign exchange
rates; the accuracy of mineral resource and mineral reserve
estimates at the Company's material properties; estimated mine life
and any anticipated changes related thereto; the sufficiency of the
Company's capital to finance the Company's operations; estimates of
revenues, operation costs, capital expenditures, mine plan, and
estimated production from the Company's Gaocheng Mine; 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 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,
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; all necessary permits,
licenses and regulatory approvals for our operations are received
in a timely manner; title to properties; 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; our ability to comply with
environmental, health and safety laws; environmental risks; foreign
exchange rate fluctuations; insurance; risks and hazards of mining
operations; key personnel; conflicts of interest; dependence on
management; global economic and social impact of
COVID‐19; internal control over financial reporting;
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.
Forward‐ looking statements 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 due to a variety of risks,
uncertainties and other factors, including, without limitation,
those referred to in the Company's Annual Information
Form 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.
The Company's forward‐looking
statements are based on the assumptions, beliefs, expectations and
opinions of management as of the date of this news release, and
other than as required by applicable securities laws, the Company
does not assume any obligation to update
forward‐looking statements if circumstances or
management's assumptions, beliefs, expectations or
opinions should change, or changes in any other events affecting
such statements. For the reasons set forth above, investors should
not place undue reliance on forward‐looking
statements.
CAUTIONARY NOTE TO US INVESTORS
The technical and scientific information contained in the
Technical Report has been prepared in accordance with NI
43‐101 and the Canadian Institute of Mining,
Metallurgy and Petroleum classification system, which differs
significantly from the standards adopted by the U.S. Securities and
Exchange Commission (the "SEC"). Accordingly, the technical and
scientific information contained in the Technical Report, including
any estimates of mineral reserves and mineral resources, may not be
comparable to similar information disclosed by U.S. companies
subject to the disclosure requirements of the SEC. In
particular, and without limiting the generality of the foregoing,
the Technical Report uses the terms "measured resources,"
"indicated resources" and "inferred resources" as defined in
accordance with NI 43-101 and the CIM
Standards. Mineralization described using these terms
has a greater amount of uncertainty as to its existence and
feasibility than mineralization that has been characterized as
reserves. Accordingly, U.S. investors are cautioned not to assume
that any measured mineral resources, indicated mineral resources,
or inferred mineral resources that the Company reports are or will
be economically or legally mineable. Further, "inferred mineral
resources" have a greater amount of uncertainty as to their
existence and as to whether they can be mined legally or
economically. Under Canadian securities laws, estimates of
"inferred mineral resources" may not form the basis of feasibility
or pre-feasibility studies, except in rare cases. While the above
terms under the U.S. Rules are "substantially similar" to the
standards under NI 43-101 and CIM Standards, there are differences
in the definitions under the U.S. Rules and CIM Standards.
Accordingly, there is no assurance any mineral reserves or mineral
resources that the Company may report as "proven mineral reserves",
"probable mineral reserves", "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources"
under NI 43-101 would be the same had the Company prepared the
reserve or resource estimates under the standards adopted under the
U.S. Rules.
Additional information relating to the Company, including
Silvercorp's Annual Information Form, can be obtained under the
Company's profile on SEDAR+ at www.sedarplus.ca on EDGAR at
www.sec.gov, and on the Company's website at
www.silvercorpmetals.com
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SOURCE Silvercorp Metals Inc