Silvercorp Metals Inc.
TSX : SVM

Silvercorp Metals Inc.

September 16, 2005 12:34 ET

Silvercorp Closes $6,400,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 16, 2005) - Silvercorp Metals Inc. ("Silvercorp") (TSX VENTURE:SVM) has closed the placement announced August 31 and September 1, 2005, for proceeds of $6,400,000. A total of 2,000,000 Units were placed at $3.20, with each Unit comprised of one common share and one-half share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share up to September 15, 2006 at $4.60 per share. Placees include Sprott Asset Management Inc. and US Global Investors' Global Resources Fund. The securities issued are subject to a hold period expiring January 16, 2006.

The proceeds of the placement will be added to working capital.

SILVERCORP METALS INC.

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy or this release.

Contact Information

  • Silvercorp Metals Inc.
    Rui Feng
    Chairman & CEO
    (604) 669-9397
    or
    Silvercorp Metals Inc.
    Cathy Fong
    VP Corporate Development
    (604) 669-9397
    (604) 669-9387 (FAX)
    info@silvercorp.ca
    www.silvercorp.ca