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Silvercorp Expands Mineralized Veins by Drilling and Tunneling at the TLP and LME Mines, Ying Mining District, China

Silvercorp Metals Inc.(TSX:SVM, NYSEMKT:SVM) is pleased to report results of the first half of its 2017 exploration programs at the TLP and LME mines, Ying Mining District,Henan Province,China.

In the first half of 2017, the Company completed 17,230 meters (m) of underground diamond drilling and 6,196m of exploration tunneling at the TLP and LME mines. Underground drilling continuously extended the major mineralized vein structures along strike and downdip, and drift tunneling exposed high-grade mineralized zones at both mines.

Highlights of selected intersections of drill holes:

LME Mine:

  • Hole ZKL51A21 intersected a 6.85m interval from 21.32m to 28.17m, 6.74m true width, of vein LM5E1 grading 419 grams per tonne (g/t) silver (Ag), 0.96% lead (Pb) and 0.38% zinc (Zn) at the 546m elevation, including a 0.58m interval from 23.46m to 24.04m, 0.57m true width grading 1,151g/t Ag, 5.81% Pb and 1.99% Zn, and a 2.16m interval from 41.33m to 43.49m, 2.12m true width, of vein LME grading 1,347 g/t Ag, 1.45% Pb and 0.68% Zn at the 539m elevation; and
  • Hole ZKL5337 intersected a 7.50m interval from 297.36m to 304.86m, 5.38m true width, of vein LM5 grading 558g/t Ag, 3.31% Pb and 0.56% Zn at the 240m elevation, including a 0.60m interval from 300.94m to 301.54m, 0.43m true width grading 4,229g/t Ag, 19.76% Pb and 0.96% Zn.

TLP Mine:

  • Hole ZKT2541 intersected an 1.17m interval from 86.19m to 87.36m, 0.80m true width, of vein T39W grading 1,577g/t Ag, 10.40% Pb and 3.10% Zn at the 796m elevation.

Highlights of selected mineralization zones exposed in exploration drift tunnels:

LME Mine:

  • Drift Tunnel PD900-LM5E2-550-51NSYM exposed mineralization of 75m long and 1.07m wide (true width) grading 595 g/t Ag, 2.29% Pb and 0.78% Zn within vein structure LM5E on the 550m level.

TLP Mine:

  • Drift Tunnel PD846-T16E-846-4SYM exposed mineralization of 45m long and 0.54m wide (true width) grading 1,621g/t Ag, 2.60% Pb and 0.24% Zn within vein structure T16E on the 846m level; and
  • lDrift Tunnel PD820-T14-700-2NYM exposed mineralization of 119m long and 0.86m wide (true width) grading 406g/t Ag, 5.03% Pb and 0.54% Zn within vein structure T14 on the 700m level.

Diamond drill holes are designed to define and upgrade inferred mineral resource blocks and test for new mineral resources. Underground drilling is mainly conducted from 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 TLP and LME mines is briefly summarized in the following table:

Major Target

Veins

Meters

Drilled

Holes

Completed

Samples

Collected

Holes with

Assay

Received

Holes

Intercepted

Vein

Structures

Holes

Intercepted

Mineralization

TLP Mine

T1W1, T1W2, T8, T11, T15, T15W, T16, T27 ,T28, T38, and T39

12,609

44

1,089

45

45

31

LME Mine

LM3, LM4, LM5, LM6, LM9, and ZG

4,621

17

639

30

30

17

The 2017 exploration tunneling, comprising drifting, crosscutting and raising, was driven along and across major mineralized vein structures to upgrade drill defined mineral resources and test for new parallel and splay structures.

The first half of 2017 tunneling program at TLP and LME mines is briefly summarized in the following table:

Major Target Veins

Total

Tunneling

(m)

Channel

Samples

Collected

Drift

Tunneling

Included

(m)

Total Mineralization Exposed by Drift Tunneling

Length

(m)

Average

True

Width (m)

Ag (g/t)

Pb (%)

Zn (%)

TLP Mine

T1, T2, T3, T3E, T4, T5, T14, T14E, T15W, T16, T16W, T16E, T17, T22, T27, T33E

4,458

2,172

3,288

1,242

0.66

447

3.73

0.55

LME Mine

LM3, LM4, LM5, LM5E, and ZG1

1,738

766

1,088

442

0.76

442

1.71

0.50

Tables 1 and 2 below list the assay results of some selected mineralized intersections in drill holes and mineralized zones exposed in drift tunnels in the first half of 2017 exploration programs.

Table 1: Selected drilling results from the 2017 drilling program at TLP and LME mines

Hole ID

From

(m)

To (m)

Elevation

(m)

Interval

(m)

True

Width

(m)

Ag

(g/t)

Pb

(%)

Zn

(%)

Vein

Remarks

LME mine

ZKL5031

55.96

56.49

458

0.53

0.45

110

0.57

0.09

LM3_1

Test*

208.75

209.53

338

0.78

0.69

181

0.12

0.63

LM6

Test

212.54

212.98

335

0.44

0.39

122

0.43

2.12

LM6E

Test

277.65

278.20

284

0.55

0.48

253

2.83

2.26

LM5E

Stepout***

ZKL5746

358.46

358.87

767

0.41

0.41

269

0.34

0.44

ZG2

Test

ZKL51A21

15.22

16.52

548

1.30

1.28

291

0.44

0.17

LM5

Infill**

21.32

28.17

546

6.85

6.74

419

0.96

0.38

LM5E1

Infill

Including

23.46

24.04

545

0.58

0.57

1,151

5.81

1.99

27.27

27.76

544

0.49

0.48

1,447

1.00

0.11

41.33

43.49

539

2.16

2.12

1,347

1.45

0.68

LM5E

Infill

Including

41.33

42.26

539

0.93

0.91

1,968

1.70

0.57

51.67

52.63

535

0.96

0.84

239

0.81

0.18

LM5E2

Test

300.75

301.16

450

0.41

0.40

271

0.63

0.33

ZG2

Infill

ZKL5032

237.24

237.73

305

0.49

0.43

100

0.33

0.20

LM6

Test

ZKL5043

21.73

23.78

549

2.05

1.57

1,377

1.25

1.17

LM5

Infill

Including

22.88

23.78

548

0.90

0.69

2,581

1.83

2.23

ZKL5105

45.87

48.55

532

2.68

2.58

582

0.76

0.37

LM5E

Infill

ZKL52A21

70.51

72.32

505

1.81

1.60

942

3.98

0.68

LM5

Infill

103.31

104.94

482

1.63

1.43

179

1.68

0.39

LM5E

Infill

ZKL5321

57.76

58.17

534

0.41

0.40

109

0.29

0.08

LM5

Test

93.77

95.17

522

1.40

1.38

1,338

2.43

0.46

LM5E

Infill

Including

93.77

94.45

521

0.68

0.67

2,244

4.63

0.66

ZKL5337

297.36

304.86

240

7.50

5.38

558

3.31

0.56

LM5

Test

Including

300.94

301.54

236

0.60

0.43

4,229

19.76

0.96

315.93

316.68

223

0.75

0.54

435

4.38

3.33

LM5E

Test

ZKL53A21

21.19

22.28

547

1.09

0.99

467

1.33

0.93

LM5W2

Test

100.91

103.23

520

2.32

2.11

693

2.51

0.54

LM5E

Infill

ZKL53A22

23.77

24.25

538

0.48

0.42

342

2.53

1.00

LM5W2

Stepout

32.51

32.94

532

0.43

0.38

201

0.72

0.08

LM5W

Infill

111.96

112.52

482

0.56

0.49

356

0.75

0.58

LM5E

Infill

54.99

55.49

511

0.50

0.42

105

0.53

0.32

LM5

Test

ZKL5422

392.93

393.25

160

0.32

0.22

154

4.08

2.95

LM5E

Test

424.88

428.68

133

3.80

2.59

212

5.83

1.17

LM5E2

Test

TLP mine

ZKT2541

19.40

19.91

829

0.51

0.35

283

3.00

1.80

T38

Test

86.19

87.36

796

1.17

0.80

1,577

10.40

3.10

T39W

Test

ZKG0531

13.35

14.01

852

0.66

0.61

118

0.20

0.30

T16E

Stepout

161.13

161.63

816

0.50

0.46

56

5.10

1.10

T15W

Test

ZKG0532

211.95

212.97

685

1.02

0.94

85

7.80

5.20

T11

Stepout

ZKT2542

135.69

136.12

745

0.43

0.28

1,033

0.80

1.00

T39

Test

310.63

311.13

630

0.50

0.34

36

8.20

2.40

T16

Stepout

ZKTA1201

96.57

97.23

979

0.66

0.63

549

15.40

2.70

T27E

Stepout

155.44

156.46

984

1.02

0.95

147

0.40

0.30

T27

Infill

ZKTA1002

149.64

151.24

903

1.60

0.49

992

6.30

3.20

T1W2

Stepout

163.21

163.75

897

0.54

0.16

416

0.80

0.10

T25

Test

166.83

167.99

895

1.16

0.35

118

0.90

0.20

New vein to be named

Test

ZKG0533

20.73

21.32

836

0.59

0.39

197

0.40

0.50

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