Silvercorp Reports Underground Exploration Results at the LM Mine, Ying Mining District, China

Silvercorp Reports Underground Exploration Results at the LM Mine, Ying Mining 
District, China 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/06/13 --
Silvercorp Metals Inc. ("Silvercorp" or the "Company")
(TSX:SVM)(NYSE:SVM) is pleased to report the results for its
underground tunneling exploration program for 2012 and diamond
drilling exploration program for the second half of 2012 at the LM
mine, Ying Mining District, Henan Province, China. 
These new results demonstrate good downdip and along strike
consistency in relation to existing production veins as well as the
potential to expand the current reserves and resources when they are
incorporated into the next reserves and resources update for the Ying
Mining District. Furthermore, the major vein structures are still
open along strike and downdip.  
The purpose of the exploration program was to upgrade existing
drill-defined resource blocks along mineralized vein structures below
the current mining depth, extend known mineralized zones and explore
for new zones at or above the current mining depth and along strike
of major production veins. The 4,000 metre ("m") underground drifting
program has successfully extended the strike lengths of known
mineralized zones between the 850m and the 600m elevations within
major production vein LM5. Over 5,000m of diamond drilling in 23
holes was completed in the second half of 2012 and 14 of the 23 holes
intersected high-grade mineralization which resulted in the
identification of new zones of mineralization in the upper portions
of current major production veins. 
Highlights of selected mineralized zones exposed in underground
tunnels: 


 
--  Drift PD900-LM5-750-54NYM&SYM along vein LM5 on the 750m level revealed
    a zone of 147m in length, 0.84m true width, grading 858 grams per tonne
    ("g/t") silver ("Ag"), 2.11% lead ("Pb"), and 0.43% zinc ("Zn"); 
    
--  Drift PD900-LM5-700-54NYM&SYM along vein LM5 on the 700m level revealed
    a zone of 135m in length, 0.84m true width, grading 810g/t Ag, 1.87% Pb
    and 0.50% Zn; and 
    
--  Drift PD838-LM5-775-52SYM&NYM along vein LM5 on the 775m level revealed
    a zone of 180m in length, 0.93m true width, grading 490g/t Ag, 1.88% Pb
    and 0.64% Zn.
    
 
Highlights of selected intersections of drill holes:                        
 
--  Hole ZKL1002 intercepted 1.44m, 1.35m true width of vein LM1 grading
    1,872g/t Ag, 3.56% Pb and 0.41% Zn at the 690m elevation; 
    
--  Hole ZKL51S32 intercepted 1.81m, 0.68m true width of vein LM5 grading
    2,649g/t Ag, 1.88% Pb and 0.63% Zn at the 726m elevation; and 
    
--  Hole ZKL51S02 intercepted 1.32m, 0.50m true width of vein LM5 grading
    1,329g/t Ag, 0.36% Pb and 0.13% Zn at the 719m elevation.

 
In 2013, the Company continues to focus on upgrading and expanding
resource blocks along major mineralized vein structures LM2, LM3, LM5
and LM6 using existing underground mining infrastructure to access
these veins. A comprehensive program including 5,100m of underground
tunneling and 24,100m of diamond drilling is underway. 
Tables 1 and 2 below list the assay results of some selected
mineralized zones exposed in tunnels and intercepts in drill holes. 


 
Table 1: Selected tunneling results from the LM Mine in 2012                
---------------------------------------------------------------------------
                                                           Weighted Average
                                              -----------------------------
                                     Length of                             
                 Level Mineralized Mineralized      True    Ag     Pb    Zn
Tunnel ID          (m)        Vein    Zone (m) Width (m) (g/t)    (%)   (%)
---------------------------------------------------------------------------
PD838_LM5_852_51                                                           
 SYM               852         LM5          90      0.47   295   1.93  0.37
---------------------------------------------------------------------------
PD838_LM5_775_52                                                           
 SYM&NYM           775         LM5         180      0.93   490   1.88  0.64
---------------------------------------------------------------------------
PD900_LM5_750_51                                                           
 YM&SYM            750         LM5          35      0.52   394   2.67  0.41
---------------------------------------------------------------------------
PD900_LM5_750_51                                                           
 (S30)SYM          750         LM5          40      1.17 1,006   2.77  0.49
---------------------------------------------------------------------------
PD900_LM5_750_54                                                           
 NYM&SYM           750         LM5         147      0.84   858   2.11  0.43
---------------------------------------------------------------------------
PD900_LM5_700_54                                                           
 NYM&SYM           700         LM5         135      0.84   810   1.87  0.50
---------------------------------------------------------------------------
PD900_LM5_650_54                                                           
 NYM&SYM           650         LM5          90      0.71   285   1.01  0.31
---------------------------------------------------------------------------
PD900_LM5_650_51                                                           
 (S43)SYM          650         LM5          60      0.82   286   2.69  0.24
---------------------------------------------------------------------------
PD838_LM3-                                                                 
 Branch_790_0NYM   790       LM3_1          32      0.45   266   0.45  0.12
---------------------------------------------------------------------------
PD900-600-LM5-                                                             
 50SYM&NYM         600         LM5          40      1.12   475   2.18  0.24
---------------------------------------------------------------------------
                                                                            
Table 2: Selected drilling results from the LM Mine for the second half of  
2012                                                                        
-------------------------------------------------
                    From         To     Elevation
Hole ID              (m)        (m)           (m)
-------------------------------------------------
ZKL6602           223.91     224.31           702
                  358.03     360.13           620
-------------------------------------------------
ZKL1002           239.72     241.16           690
-------------------------------------------------
ZKL53S01            88.9      92.06           783
                  160.11     161.69           731
-------------------------------------------------
ZKL51S32          169.97     171.78           726
-------------------------------------------------
ZKL51S02          170.75     172.07           720
-------------------------------------------------
ZKL54S01           99.58     101.18           808
-------------------------------------------------
ZKL56S31           84.56      85.81           811
                  143.79     146.03           792
-------------------------------------------------
 
----------------------------------------------------------------------------
              Interval       True        Ag        Pb        Zn  Mineralized
Hole ID            (m)  Width (m)     (g/t)       (%)       (%)         Vein
----------------------------------------------------------------------------
ZKL6602           0.40       0.38       795      1.19      0.28          LM6
                  2.10       1.99        51      2.07      0.18          LM5
----------------------------------------------------------------------------
ZKL1002           1.44       1.35     1,821      3.45      0.41          LM1
----------------------------------------------------------------------------
ZKL53S01          3.16       1.20       401      0.44      0.23          LM6
                  1.58       0.60       550      1.40      0.56          LM5
----------------------------------------------------------------------------
ZKL51S32          1.81       0.68     2,649      1.88      0.62          LM5
----------------------------------------------------------------------------
ZKL51S02          1.32       0.50     1,329      0.36      0.13          LM5
----------------------------------------------------------------------------
ZKL54S01          1.60       1.22       112      0.57      0.14          LM6
----------------------------------------------------------------------------
ZKL56S31          1.25       0.97       470      0.23      0.08          LM6
                  2.34       1.81       146      0.84      0.27          LM5
----------------------------------------------------------------------------

 
Quality Control  
Drill cores are NQ size. Drill core samples, limited by apparent
mineralization contact or shear/alteration contact, were split into
halves by saw cutting. The half cores are stored in the Company's
core shacks for future reference and checking, and the other half of
the core samples are shipped in security sealed bags to the Chengde
Huakan 514 Geology and Minerals Testing and Research Institute, an
ISO9000 certified analytical lab in Chengde, China, 226 km northeast
of Beijing. For analysis the sample is dried and crushed to minus 1mm
and then split to a 200-300g subsample which is further pulverized to
minus 200 mesh. Two subsamples are prepared from the pulverized
sample. One is digested with aqua regia for gold analysis with AAS,
and the other is digested with two-acids for analysis of silver,
lead, zinc and copper.  
Chip samples are collected along sample lines perpendicular to the
mineralized vein structure in exploration tunnels. Spacing between
sampling lines is typically 5m along strike. Both the mineralized
vein and the altered wall rocks are cut with continuous chisel
chipping. Sample length ranges from 0.2m to more than 1m, depending
on the width of the mineralized vein and the mineralization type.  
A routine quality assurance/quality control procedure is adopted at
each lab to monitor the analytical quality at the lab. Certified
reference materials (CRM), pulp duplicates and blanks are inserted
into each lab batch of samples. QA/QC data at the lab are attached to
the assay certificates for each batch of samples.  
The Company maintains its own comprehensive quality assurance and
quality control program to ensure best practice in sample preparation
and analysis of the drill core samples. Project geologists regularly
insert CRM, field duplicates and blanks to each batch of core samples
to monitor the sample preparation and analysis procedures at the
labs. The analytical quality of the labs is further evaluated with
external checks by sending about 3% of the pulp samples to higher
level labs to check for lab bias.  
Data from both the Company's and the labs' QA/QC programs are
reviewed on a timely basis by project geologists.  
Rujin Jiang, P. Geo., is the Qualified Person on the project as
defined under National Instrument 43-101. He has verified the
information and has reviewed and approved the contents of this news
release. 
About Silvercorp  
Silvercorp is a low-cost silver-producing Canadian mining company
with multiple mines in China which has paid a cash dividend since
2007. The Company is currently developing the GC project in southern
China which it expects will become its next operating mine in 2013.
The Company's vision is to deliver shareholder value by focusing on
the acquisition of under developed projects with resource potential
and the ability to grow organically. For more information, please
visit our website at www.silvercorp.ca. 
CAUTIONARY DISCLAIMER -- FORWARD LOOKING STATEMENTS  
Certain of the statements and information in this press 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
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Forward-looking statements or information relate to, among other
things: the price of silver and other metals; the accuracy of mineral
resource and mineral reserve estimates at the Company's material
properties; the sufficiency of the Company's capital to finance the
Company's operations; estimates of the Company's revenues and capital
expenditures; estimated production from the Company's mines in the
Ying Mining Camp; 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 or information are subject to a variety of
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cause actual events or results to differ from those reflected in the
forward-looking statements or information, 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; permits and licenses;
title to properties; First Nations title claims and rights; 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; environmental
risks; foreign exchange rate fluctuations; insurance; risks and
hazar
ds of mining operations; key personnel; conflicts of interest;
dependence on management; internal control over financial reporting
as per the requirements of the Sarbanes-Oxley Act; 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 or information. Forward-looking
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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 or information due to a
variety of risks, uncertainties and other factors, including, without
limitation, those referred to in the Company's Annual Information
Form for the year ended March 31, 2012 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 or information.   
The Company's forward-looking statements and information are based on
the assumptions, beliefs, expectations and opinions of management as
of the date of this press release, and other than as required by
applicable securities laws, the Company does not assume any
obligation to update forward-looking statements and information if
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opinions should change, or changes in any other events affecting such
statements or information. For the reasons set forth above, investors
should not place undue reliance on forward-looking statements and
information.
Contacts:
Silvercorp Metals Inc.
Jonathan Hackshaw
Director, Investor Relations
(604) 669-9397 or Toll Free 1(888) 224-1881
investor@silvercorp.ca
www.silvercorp.ca