Silvercorp Reports Intersection of 4.48 Meters True Width Grading 1,050 Grams per Tonne Silver and 15.92% Lead at the SGX Mine, Ying Mining District, China

VANCOUVER, Aug. 15, 2017

VANCOUVER, Aug. 15, 2017 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM / NYSE AMERICAN: SVM) is pleased to report the results of the first half of its 2017 exploration program at the SGX mine, Ying Mining District, Henan Province, China.

The 2017 exploration program at the SGX mine consists of underground drilling and tunneling. As of June 30, 2017, the Company completed 13,201 meters ("m") of underground diamond drilling with 7 underground rigs and 10,531m of exploration tunneling. Results of the underground drilling and drift tunneling continuously extended the major mineralized vein structures along strike and downdip.

Highlights of selected intersections of drill holes:

• Hole ZK13AS7-1004 intersected a 5.85m interval from 78.36m to 84.21m, 4.48m true width, of vein S19W grading 1,050 grams per tonne ("g/t") silver ("Ag"), 15.92% lead ("Pb") and 0.55% zinc ("Zn") at the 212m elevation, including an 1.22m interval from 81.91m to 83.13m, 0.93m true width grading 4,678g/t Ag, 63.12% Pb and 1.02% Zn;
   
  
• Hole ZK11AS7-1002 intersected a 0.90m interval from 78.88m to 79.78m, 0.78m true width, of vein S19 grading 2,017g/t Ag, 7.78% Pb and 1.30% Zn at the 243m elevation, and a 0.41m interval from 148.21m to 148.62m, 0.36m true width, of vein S7-1 grading 185g/t Ag, 36.63% Pb and 12.07% Zn at the 221m elevation; and
  
  
• Hole ZK15S18005 intersected an 1.29m interval from 119.40m to 120.69m, 1.02m true width, of vein S7-2 grading 1,049g/t Ag, 4.53% Pb and 3.12% Zn at the 221m elevation.

Highlights of selected mineralization zones exposed in exploration drift tunnels:

• Drift Tunnel PD16-S31-210-8NSYM exposed mineralization of 150m long and 0.86m wide (true width) grading 640 g/t Ag, 7.66% Pb and 2.08% Zn within vein structure S31 on the 210m level;
  
  
• Drift Tunnel XPD-S7-1-210-9NYM exposed mineralization of 100m long and 1.01m wide (true width) grading 455g/t Ag, 11.84% Pb and 3.25% Zn within vein structure S7-1 on the 210m level; and
  
  
• Drift Tunnel CM105-S2W2-300-74SNYM exposed mineralization of 60m long and 0.70m wide (true width) grading 609g/t Ag, 6.53% Pb and 2.79% Zn within vein structure S2W2 on the 300m level.

The 2017 underground drilling program is mainly conducted from the current production levels to delineate the downdip and along-strike extensions of known mineralized vein structures in the production area and test for new veins in the previous less-explored areas.

The first half of 2017 drilling program at SGX is briefly summarized in the following table: