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SILVERCORP REPORTS ADJUSTED NET INCOME OF $22.0 MILLION, $0.10 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $44.8 MILLION FOR Q3 FISCAL 2025

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Trading Symbol:  TSX/NYSE AMERICAN: SVM

VANCOUVER, BC, Feb. 11, 2025 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) reported its financial and operating results for the three months ended December 31, 2024 ("Q3 Fiscal 2025"). All amounts are expressed in US dollars, and figures may not add due to rounding.

Silvercorp Metals Inc. (CNW Group/Silvercorp Metals Inc.)
Silvercorp Metals Inc. (CNW Group/Silvercorp Metals Inc.)

HIGHLIGHTS FOR Q3 FISCAL 2025

  • Mined 383,543 tonnes of ore, milled 361,810 tonnes of ore, and produced approximately 2,056 ounces of gold, 1.9 million ounces of silver, or approximately 2.1 million ounces of silver equivalent1, plus 17.1 million pounds of lead and 6.7 million pounds of zinc;

  • Sold approximately 1,875 ounces of gold, 2.0 million ounces of silver, 17.1 million pounds of lead, and 6.6 million pounds of zinc, for revenue of $83.6 million;

  • Net income attributable to equity shareholders of $26.1 million, or $0.12 per share;

  • Excluding $11.6 million gain on fair value of derivative liabilities, less $8.9 million one-time non-routine mineral right transfer royalty payment for renewing SGX mining license, and other minor items, the adjusted net income attributable to equity shareholders1 of $22.0 million, or $0.10 per share;

  • Generated cash flow from operating activities of $44.8 million;

  • Cash cost per ounce of silver, net of by-product credits1, of negative $1.88;

  • All-in sustaining cost per ounce of silver, net of by-product credits1, of $12.75;

  • Spent and capitalized $17.8 million on underground exploration and development, and $7.5 million on equipment and facilities for the No. 3 tailings storage facility and the new 1,500 tonne per day mill at the Ying Mining District;

  • Spent and capitalized $2.1 million at the El Domo and Condor Projects;

  • Repaid $13.25 million to Wheaton Precious Metals International Ltd. (Wheaton") to eliminate obligations to deliver 92.3 ounces of gold per month to Wheaton for the El Domo Project;

  • Spent $3.7 million on dividends to the shareholders of the Company and on share buyback;

  • Existing cash of $211.1 million plus $143.3 million net proceeds raised through an issuance of unsecured convertible senior notes nets the Company with $354.6 million in cash and cash equivalents and short-term investments; the Company also has a stream arrangement to access up to $175.0 million to fund the El Domo project construction, and holds a portfolio of equity investment in associates and other companies with a total market value of $68.9 million as at December 31, 2024; and,

  • Awarded the first construction contract of the El Domo Project using "Unit Cost" criteria.