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

Silvercorp Reports Exploration Results at the HPG Mine, Ying Mining District, 
China 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/11/13 --
Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)
(NYSE:SVM) is pleased to report the results from its 2012 underground
tunneling and diamond drilling exploration program at the HPG mine,
Ying Mining District, Henan Province, China. 
Highlights of selected mineralization zones exposed in underground
tunnels: 


 
--  Drift PD2-530-H16-NYM1 at the 530 metre ("m") level along vein H16
    revealed a zone 50m in length, 1.06m true width grading 4.13 grams per
    tonne ("g/t") gold ("Au"), 94 g/t silver ("Ag"), 5.14% lead ("Pb") and
    3.12% zinc ("Zn"); 
    
--  Drift PD5-H16-570-SYM at the 570m level along vein H16 revealed a zone
    50m in length, 0.92m true width grading 5.96 g/t Au, 119 g/t Ag, 0.67%
    Pb and 0.96% Zn; and 
    
--  Drift PD2-530-H16-SYM at the 530m level alogn vein H16 revealed a zone
    65m in length, 0.60m true width grading 5.52 g/t Au, 27 g/t Ag, 1.35% Pb
    and 1.61% Zn. 

 
Highlights of selected intersections of drill holes: 


 
--  Hole ZK0014 intercepted an 1.16m interval, 0.71m true width of vein H4
    grading 1.15 g/t Au, 729 g/t Ag, 3.34% Pb and 7.30% Zn at the 345m
    elevation; and 
    
--  Hole ZK1705 intercepted an 1.53m interval, 1.18m true width of vein H16
    grading 4.19 g/t Au, 16 g/t Ag, 2.16% Pb and 0.89% Zn at the 382m
    elevation. 

 
The purpose of the 6,900m underground tunneling program was to
further delineate and upgrade previously drill-defined resource
blocks within major vein structures H4, H5, H11, H13, H15, H16, H17,
and H18 between the 340m and the 766m elevations. Drift and crosscut
tunnels were developed at 30m to 50m intervals. A total of 1,118 chip
samples were collected. Mineralized zones with a total length of
1,542m were exposed in drift tunnels on different levels along the
major vein structures. 
The underground diamond drilling program was designed to test the
downdip and strike extension of the major mineralized vein structures
between the 200m and the 700m elevations. The drilling strategy was
adjusted in the second half of 2012 to focus on the upper portions of
the major vein structures close to the existing mining facilities. A
total of 14,980m in 63 holes was completed and 859 core samples were
collected. By the end of March 2013, the Company had received assay
results for the 63 holes drilled in 2012. 41 of the 63 holes
intercepted single or multiple gold-silver-lead-zinc mineralized
zones. 
Tables 1 and 2 below list the assay results of some selected
mineralization zones exposed in tunnels and intersections in drill
holes. 
In 2013, the Company is conducting a 3,795m underground tunnelling
and 20,000m diamond drilling program, including 1,600m of surface
drilling and 18,400m of underground drilling at the HPG mine. The
goal of the underground exploration program is to upgrade and expand
previously drill-defined resource blocks between the 300m and the
750m elevations within vein structures H12-1, H13, H16 and H17 and to
explore for new resources within unexplored sections of major vein
structures. The holes will be drilled from 11 underground drill
stations on levels 420m, 530m, 570m, 590m, and 630m using three
underground drill rigs and from two surface drill stations using one
surface rig. 


 
Table 1: Selected tunneling results from the HPG Mine                       
                                                                            
----------------------------------------------------------------------------
                              Length of                                     
                            Mineralized                                     
                 Level             Zone   Average                           
Tunnel ID          (m)  Vein        (m) Width (m)      Weighted Average     
                                                 ---------------------------
                                                 Au(g/t) Ag(g/t) Pb(%) Zn(%)
----------------------------------------------------------------------------
PD640-640-H11-SYM  640   H11         38      0.47   2.55      22  3.02  0.87
----------------------------------------------------------------------------
PD640-H16-640-SYM  640   H16         38      0.90   2.87      19  0.78  1.19
----------------------------------------------------------------------------
PD600-H5W-600-NYM  600   H5W        100      0.85   0.15     154  6.53  0.70
----------------------------------------------------------------------------
PD5-570-H11-NYM    570   H11         75      0.42   0.42      56  8.28  0.24
----------------------------------------------------------------------------
PD2-H15-570-SYM    570   H15         55      1.10   0.88      73  4.04  0.58
----------------------------------------------------------------------------
PD5-H16-570-SYM    570   H16         50      0.92   5.96     119  0.67  0.96
----------------------------------------------------------------------------
PD2-530-H16-NYM1   530   H16         50      1.06   4.13      94  5.14  3.12
----------------------------------------------------------------------------
PD2-530-H16-SYM1   530   H16        120      0.67   2.47      19  1.41  1.62
----------------------------------------------------------------------------
PD2-530-H16-SYM    530   H16         65      0.60   5.52      27  1.35  1.61
----------------------------------------------------------------------------
PD2-H16-490-SYM    490   H16         65      1.18   3.99      38  1.23  1.01
----------------------------------------------------------------------------
PD3-H15W-420-SYM2  420  H15W         30      0.18   0.18     185 20.65  0.36
----------------------------------------------------------------------------
PD3-H15-380-SYM2   380   H15         45      0.60   0.95     186  5.75  7.15
----------------------------------------------------------------------------
PD3-H18-340-NYM    340   H18         87      0.71   0.47      85  2.63  5.36
----------------------------------------------------------------------------
                                                                            
Table 2: Selected drilling results from the HPG Mine                        
                                                                            
----------------------------------------------------------------------------
                  From          To      Interval     Elevation    True Width
Hole ID            (m)         (m)           (m)           (m)           (m)
----------------------------------------------------------------------------
ZK0304          261.54      261.97          0.43           405          0.38
----------------------------------------------------------------------------
ZK2705           30.40       32.36          1.96           632          0.46
                184.39      184.70          0.31           514          0.15
                261.46      262.56          1.10           456          0.42
----------------------------------------------------------------------------
ZK2706          216.16      217.41          1.25           517          0.48
                220.03      220.99          0.96           515          0.37
----------------------------------------------------------------------------
ZK0204          110.42      110.73          0.31           546          0.29
----------------------------------------------------------------------------
ZK0205           24.74       25.35          0.61           579          0.40
----------------------------------------------------------------------------
ZK0206           34.39       35.26          0.87           566          0.44
                223.26      223.76          0.50           386          0.37
----------------------------------------------------------------------------
ZK0012           18.49       20.68          2.19           588          2.01
                131.88      132.94          1.06           520          0.46
                136.99      137.84          0.85           517          0.37
----------------------------------------------------------------------------
ZK0014           27.10       27.92          0.82           574          0.50
                272.70      273.86          1.16           345          0.71
----------------------------------------------------------------------------
ZK1915          157.83      158.22          0.39           403          0.26
                211.71      212.19          0.48           357          0.32
                261.68      262.29          0.61           315          0.41
----------------------------------------------------------------------------
ZKS2201         242.66      245.44          2.78           704          3.13
----------------------------------------------------------------------------
ZK0610           60.05       66.82          6.77           556          4.42
----------------------------------------------------------------------------
ZK1705          200.85      202.37          1.52           382          1.18
----------------------------------------------------------------------------
ZK1706           81.01       81.58          0.57           463          0.39
----------------------------------------------------------------------------
ZK1403          164.83      165.77          0.94           179          0.66
                213.75      214.59          0.84           142          0.48
----------------------------------------------------------------------------
 
                                                                            
Table 2: Selected drilling results from the HPG Mine                        
                                                                            
----------------------------------------------------------------------------
                 Au        Ag        Pb        Zn                           
Hole ID       (g/t)     (g/t)       (%)       (%)                       Vein
----------------------------------------------------------------------------
ZK0304         0.36       144      3.73      1.55                         H5
----------------------------------------------------------------------------
ZK2705         0.41        21      1.49      0.09                        H11
               1.78        38      4.51      1.08                      H39-1
               5.32         9      0.09      0.15                      H10-2
----------------------------------------------------------------------------
ZK2706         1.32        14      1.16      0.09                      H10-2
               0.10       165      1.60      0.80      New Zone, to be named
----------------------------------------------------------------------------
ZK0204         0.44       266      1.57      2.46                         H4
----------------------------------------------------------------------------
ZK0205         0.32       218      0.10      1.67                        H5W
----------------------------------------------------------------------------
ZK0206         0.12       134      0.04      1.35                        H5W
               1.30       456      0.21      2.00                         H4
----------------------------------------------------------------------------
ZK0012         0.32       267      1.26      2.83                        H5W
               0.03        33      3.00      1.50                         H4
               0.31       149      0.80      3.77                         H4
----------------------------------------------------------------------------
ZK0014         0.03        15      1.21      0.30                        H5W
               1.15       728      3.34      7.30                         H4
----------------------------------------------------------------------------
ZK1915         1.56         1      0.11      0.08                        H14
               3.79        45      1.59      3.01                      H14_1
               6.74       143      0.85      1.17                        H16
----------------------------------------------------------------------------
ZKS2201        0.18       203      0.28      0.05                        C29
----------------------------------------------------------------------------
ZK0610         0.14       226     14.31      2.99                        H5W
----------------------------------------------------------------------------
ZK1705         4.19        16      2.16      0.89                        H16
----------------------------------------------------------------------------
ZK1706         6.86         8      0.72      0.51                        H11
----------------------------------------------------------------------------
ZK1403         3.30        17      1.81      0.13                       H15W
               1.90        22      1.68      3.17                H15W Branch
----------------------------------------------------------------------------

 
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
core samples are shipped in security sealed bags to the Chengde
Huakan 514 Geology and Minerals Testing and Research Institute in
Chengde, China, 226 km northeast of Beijing, an ISO9000 certified
analytical lab. Adopted analytical method that 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 5 m along strike. Both the mineralized
vein and the altered wall rocks are cut with continuous chisel
chipping. Sample length ranges from 0.2 m to more than 1 m, 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 a 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 certified reference materials (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 timely
reviewed and evaluated 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
Canadian provincial securities laws. Any statements or information
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or
future events or performance (often, but not always, using words or
phrases such as "expects", "is expected", "anticipates", "believes",
"plans", "projects", "estimates", "assumes", "intends", "strategies",
"targets", "goals", "forecasts", "objectives", "budgets",
"schedules", "potential" or variations thereof or stating that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved, or the negative of any of
these terms and similar expressions) are not statements of historical
fact and may be forward-looking statements or information.
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
known and unknown risks, uncertainties and other factors that could
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
hazards 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
statements or information are statements about the future and are
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
circumstances or management's assumptions, beliefs, expectations or
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
 
 
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