Silvercorp reports discovery of significant mineralized vein structures in its 2016 exploration program at the LMW mine, Ying Mining District, China

VANCOUVER, Jan. 30, 2017

VANCOUVER, Jan. 30, 2017 /PRNewswire/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM) is pleased to report the results of its 2016 exploration program at the LMW mine, Ying Mining District, Henan Province, China.

The Company completed 17,410 meters ("m") underground diamond drilling and 7,909m exploration tunneling in 2016 at the LMW mine. Highlights of the 2016 exploration results is the delineation of high-grade northwest-trending vein structures LM19W1 and S19W2 and other parallel vein groups. The 4,877m drift tunneling exposed a total of 1,931m of high-grade mineralized zones.

Highlights of selected mineralization zones exposed in exploration drift tunnels includes:

• Drift Tunnel PD969-LM13-969-1NSYM exposed mineralization of 90m long and 0.56m wide (true width) grading 1,265 grams per tonne ("g/t") silver ("Ag"), 8.86% lead ("Pb") and 0.44% zinc ("Zn") within vein structure LM13 on the 969m level;
  
  
• Drift Tunnel SJ969-LM19W2-650-110NYM exposed mineralization of 105m long and 0.74m wide (true width) grading 761g/t Ag, 5.19% Pb and 1.08% Zn within vein structure LM19W2 on the 650m level; and
  
  
• Drift Tunnel XPDN-LM19W1-650-112NYM exposed mineralization of 175m long and 0.84m wide (true width) grading 527g/t Ag, 3.95% Pb and 0.62% Zn within vein structure LM19W1 on the 650m level.

Highlights of selected intersections of drill holes includes:

• Hole ZKX0351 intersected an 1.86m interval from 126.59m to 128.45m, 1.20m true width, of vein LM41 grading 222g/t Ag and 0.32% Pb at the 889m elevation, and a 0.51m interval from 131.50m to 132.01m, 0.49m true width, of vein LM17W grading 866g/t Ag, 7.97% Pb and 0.67% Zn at the 887m elevation;
  
  
• Hole ZK13261 intersected a 0.62m interval from 358.57m to 359.19m, 0.37m true width, of vein LM19W1 grading 1,328g/t Ag, 4.94% Pb and 4.80% Zn at the 703m elevation, and an 1.46m interval from 395.50m to 396.96m, 0.89m true width, of vein LM19 grading 622g/t Ag, 1.98% Pb and 0.47% Zn at the 681m elevation; and
  
  
• Hole ZKX0161B intersected a 2.45m interval from 146.64m to 149.09m, 1.86m true width, of LM13 grading 767g/t Ag, 0.87% Pb and 0.43% Zn at the 881m elevation.

Re-interpretation of previous exploration data in early 2015 resulted in identification of the northwest striking vein structures LM19W1 and LM19W2 at LMW mine. Underground drilling and exploration tunneling afterwards in 2015 and 2016 have controlled strike lengths of more than 700 m for both vein structures, and exposed stable and continuous high-grade mineralization zones in drift tunnels within the two newly defined structures. In addition to the known dominant northeast striking vein structures, discovery of vein structures LM19W1 and LM19W2 at LMW may indicate enormous exploration potential of the previously less-explored northwest striking vein structures in the Ying mining district, especially the TLP, LME and LMW mines.

Underground drill holes in 2016 were mainly designed to delineate the downdip and along-strike extensions of known mineralized vein structures in the production area and test for new veins in the adjacent less-explored areas.