Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX/NYSE
American: SVM) announces that the Tieluping-Longmen (“TLP-LM”)
Mining License for the TLP, LME and LMW mines in the Ying Mining
District has been renewed and extended for a period of 20 years
(expiration February 26, 2041) by the Department of Natural
Resources, Henan Province, China. As the renewal was approved on
the basis of a resource estimation report in China Standards which
was filed by the Company with the Henan provincial government in
2014, a new resource estimation report must be prepared and filed
within two years of this renewal.
The TLP-LM Mining License covers 22.7631 square
kilometres and forms part of the Ying Mining District’s four
contiguous mining licenses totaling approximately 68 square km. The
TLP, LME, and LMW silver-lead-zinc mines are located on the eastern
side of the TLP-LM Mining License. The renewal of the TLP-LM Mining
License speaks to the three mines' excellent performance over the
last ten years, in compliance with all regulations and legal
requirements. Silvercorp remains committed to operating to the
highest safety, health, and environmental protection standards.
Guoliang Ma, P. Geo., Manager of Exploration and
Resource of the Company, is the Qualified Person for Silvercorp
under NI 43-101 and has reviewed and given consent to the technical
information contained in this news release.
About Silvercorp
Silvercorp is a profitable Canadian mining
company producing silver, lead and zinc metals in concentrates from
mines in China. The Company's goal is to continuously create
healthy returns to shareholders through efficient management,
organic growth and the acquisition of profitable projects.
Silvercorp balances profitability, social and environmental
relationships, employees' wellbeing, and sustainable development.
For more information, please visit our website at
www.silvercorp.ca.
For further information
Lon ShaverVice PresidentSilvercorp Metals
Inc.
Phone: (604) 669-9397Toll Free: 1 (888)
224-1881Email: investor@silvercorp.ca Website:
www.silvercorp.ca
CAUTIONARY DISCLAIMER - FORWARD-LOOKING
STATEMENTS
Certain of the statements and information in
this news 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
(collectively, "forward-looking statements"). Any forward-looking
statements 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. Forward-looking statements relate to,
among other things: future profitability, growth, acquisitions and
shareholder returns, and potential future offerings of securities
of the Company.
Forward-looking statements 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, including, without
limitation, social and economic impacts of COVID-19; 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; 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, Canada and Mexico; 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, as well as those
risks and uncertainties discussed in the Company's corresponding
MD&A and other public filings of the Company. This list is not
exhaustive of the factors that may affect any of the Company's
forward-looking statements.
Forward-looking statements 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 expressed or implied in the forward-looking
statements.
The Company's forward-looking statements are
necessarily based on a number of estimates, assumptions, beliefs,
expectations and opinions of management as of the date of this news
release that while considered reasonable by management of the
Company, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. These estimates,
assumptions, beliefs, expectations and opinions include, but are
not limited to, those related to the Company's ability to carry on
current and future operations, including: the duration and effects
of COVID-19 on our operations and workforce; development and
exploration activities; the timing, extent, duration and economic
viability of such operations; the accuracy and reliability of
estimates, projections, forecasts, studies and assessments; the
Company's ability to meet or achieve estimates, projections and
forecasts; the availability and cost of inputs; the price and
market for outputs; foreign exchange rates; taxation levels; the
timely receipt of necessary approvals or permits; the ability to
meet current and future obligations; the ability to obtain timely
financing on reasonable terms when required; the current and future
social, economic and political conditions; and other assumptions
and factors generally associated with the mining industry. Other
than as required by applicable securities laws, the Company does
not assume any obligation to update forward-looking statements if
circumstances or management's assumptions, beliefs, expectations or
opinions should change, or changes in any other events affecting
such statements. 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. For the reasons
set forth above, investors should not place undue reliance on
forward-looking statements.
CAUTIONARY NOTE TO US
INVESTORS
This news release has been prepared in
accordance with the requirements of NI 43‐101 and the Canadian
Institute of Mining, Metallurgy and Petroleum Definition Standards,
which differ from the requirements of U.S. Securities laws.
NI 43‐101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects.
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