Silvercorp Metals Inc.
TSX : SVM

Silvercorp Metals Inc.

March 27, 2007 09:01 ET

Silvercorp Discovers Five New Veins at the Ying Silver Project, Henan, China

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2007) - Silvercorp Metals Inc. ("Silvercorp") (TSX:SVM) is pleased to provide exploration results at the SGX area of the Ying Silver Project from August 15th 2006 to January 15th 2007, excluding the S21 Vein released recently (January 22, 2007). The program is an ongoing effort to convert inferred resources to indicated and measured resources, to expand inferred resources at depth and along strike, and to intersect and define additional mineralized veins in the area. A total of 4,783 metres ("m") of exploration tunnels and a total of 45 drill holes totaling 9,270m (8 surface and 37 underground drill holes) have been completed. Out of the 45 drill holes, 11 holes intercepted massive galena sheets with silver equivalent grade exceeding 1,250 grams per tonne (g/t), representing a 24.4% drilling success rate, which is comparable to results obtained in our previous drill programs.

The tunneling and drilling program has discovered five new veins which contain massive galena mineralization: S7-3, S16E1, S16E2, S16E3, and S8E. The assay results from the new tunnels and drill holes are set out in the Tables below.

Significant results from the new tunnels and drill holes are:

- 0.20m true width grading 5,200 g/t or 167.18 ounces per tonne (oz/t) Silver (Ag), 65.49% lead (Pb), and 4.87% zinc (Zn) on 480-m elevation on the S6 Vein.

- Underground drill hole ZK1409 intercepted 0.5m (core length) in S7 Vein at 597-m elevation containing 1,938 g/t (62.31 oz/t) Ag, 3.51% Pb, and 9.96% Zn.

- Tunneling intercepted 0.20m true width massive galena in S7-1 Vein grading 3,352 g/t (107.76 oz/t) Ag, 17.97% Pb, and 5.25% Zn at 600-m elevation.

- Surface drill hole ZK1905 intersected 0.37m (core length) in S7-3 Vein containing 2,711 g/t (87.16 oz/t) Ag, 23.02% Pb, and 13.18% Zn.

- Tunneling intercepted 0.4m true width containing 2,364 g/t (76.01 oz/t) Ag, 1.47% Pb, and 12.88% Zn in a raise at 596-m elevation on the S8 Vein.

- Tunneling intercepted 0.30m true width grading 3,689 g/t or 118.61 oz/t Ag, 24.26% Pb, and 3.44% Zn in a raise in CM101 at 710-m elevation on the newly discovered S8E Vein.

- Tunneling intercepted 0.30m true width grading 7,288 g/t (234.32 oz/t) Ag, 46.77% Pb, and 9.32% Zn in a raise at 480-m elevation tunnel on the S14 Vein;

- underground drill hole ZK14A03 intersected 0.70m wide (core length) massive galena in S14 Vein carrying 1,919 g/t (61.7 oz/t) Ag, 56.86% Pb, and 0.52% Zn at 386-m elevation.

- Tunneling intercepted 1.65m true width grading 2,902 g/t (93.3 oz/t) Ag, 14.02% Pb, and 6.57% Zn in a drift at 534-m elevation on the S16E Vein.

- Tunneling intercepted 1.00m true width grading 3,012 g/t (96.84 oz/t) Ag, 79.11% Pb, and 1.72% Zn in a drift at 600-m elevation on the S16W Vein.

Newly Discovered Veins

S7-3 Vein

The S7-3 Vein does not outcropped on the surface and was discovered by tunneling and surface drilling. It branches a few meters east of the S7-1 Vein; and extends northeasterly and dips to southwest at 65 to 80 degrees. The length of the vein is not yet defined due to limited tunneling. A drift was driven along the vein exposed continuous massive galena sheet for over 42m. Three surface drill holes intercepted the vein at depth with one hole showing 0.37m wide massive galena sheet grading 2,711 g/t (87.61 oz/t) Ag, 23.03% Pb, and 13.18% Zn at 374m elevation. One hole cut through the vein at 186-m elevation with an 1.35m interception of shear zone (core length), indicating the vein extends at least 400m in depth.

S8E Vein

The S8E Vein branches immediately east of the S8 Vein extending northeasterly to northwesterly with a strike length of over 400m, and dips southeast and northeast. At 640-m and 700-m elevations through CM101 and CM104, a total of 643m tunneling was completed in delineating the vein. The work included 52m of raises, 50m of crosscuts, and 540m of drifting at 640-m and 700-m elevations.

S16E1 Vein

The S16E1 Vein was discovered by underground drilling and was further defined by additional drill holes and tunneling through CM102. The vein is located east of the S16E Vein and is a branch vein of S16E. To date, seven drill holes and tunneling at three different elevations have defined the vein strike over a length exceeding 200 m and a depth over 200m.

S16E2 Vein

The S16E2 Vein branches from the S16E Vein and extends 7 to 8m east of S16E1 Vein. The S16E2 Vein has a defined striking length of 200m. A crosscut at 610m level intersected the vein and an 18m long drift was developed along the vein through CM102. A drill hole (ZK133) also intercepted the vein at 573-m elevation.

S16E3 Vein

The S16E3 Vein is a branch of the S16E Vein and is located on the west side of the S16E Vein. It strikes northeasterly over 150m in length and dips southwesterly for a depth of over 80m with 55 to 70 degree dipping angles.



Tunnel Assay Results
--------------------------------------------------------------------------
Ag Ag
Miner- Elev- Distance True Equiv- Equiv-
alized ation to South Width Ag Ag Pb Zn alent alent
Veins (m) of CM103 (m) (g/t) (oz/t) (%) (%) (g/t)(i) (oz/t)(i)
--------------------------------------------------------------------------
S2 483 -79 0.20 736 23.67 25.97 0.51 1856 59.68
480 325 0.10 528 16.98 23.38 1.26 1574 50.61
--------------------------------------------------------------------------
S6 484 524 0.40 1130 36.32 32.61 8.36 2902 93.31
480 508 0.30 1473 47.36 10.69 11.59 2474 79.55
480 513 0.40 522 16.77 16.84 14.53 1922 61.79
480 518 0.50 611 19.64 11.44 4.12 1289 41.44
480 523 0.20 5200 167.18 65.49 4.87 8195 263.48
480 528 0.50 1365 43.90 35.54 8.01 3245 104.33
480 532 0.10 1545 49.66 10.54 17.37 2814 90.47
480 538 0.20 2374 76.31 10.60 12.63 3420 109.96
480 543 0.15 252 8.09 22.91 14.79 1920 61.73
--------------------------------------------------------------------------
S7-1 642 1675 1.00 350 11.25 22.13 6.26 1581 50.83
637 1674 1.20 132 4.24 3.49 23.77 1408 45.25
632 1674 0.15 177 5.68 16.28 13.16 1488 47.85
600 1684 0.30 699 22.48 13.59 10.97 1793 57.65
600 1689 0.20 3352 107.76 17.97 5.25 4359 140.16
603 -6 0.20 1746 56.12 29.11 9.64 3431 110.32
598 -4 1.10 924 29.72 6.21 4.73 1411 45.37
594 -2 0.20 1807 58.09 4.58 23.66 3123 100.41
589 0 0.45 1938 62.29 14.07 17.34 3354 107.85
585 2 0.25 777 24.98 19.32 7.73 1959 62.98
571 7 0.15 946 30.41 17.21 8.70 2085 67.04
566 9 0.25 1166 37.49 15.18 26.07 3044 97.87
563 -134 0.60 1168 37.57 21.10 13.01 2676 86.05
--------------------------------------------------------------------------
S7-3 600 1683 0.20 1094 35.17 42.53 10.45 3385 108.82
600 1693 0.40 621 19.96 26.26 6.14 2020 64.96
600 1698 0.20 771 24.79 14.31 5.36 1630 52.39
600 1703 0.30 1564 50.29 48.58 4.06 3807 122.39
600 1720 1.80 901 28.97 23.69 2.03 1997 64.21
570 743 0.20 2022 65.02 30.62 5.82 3591 115.44
570 758 0.35 1763 56.68 31.61 13.55 3740 120.24
534 770 0.20 622 19.99 0.80 33.52 2247 72.24
534 775 0.40 333 10.70 1.72 39.03 2258 72.60
534 785 0.45 551 17.72 3.38 24.10 1838 59.09
534 790 0.40 704 22.65 9.37 25.05 2289 73.59
--------------------------------------------------------------------------
S8 663 710 0.20 1098 35.30 3.28 20.39 2204 70.87
654 568 0.40 796 25.59 7.49 15.66 1855 59.64
596 325 0.70 982 31.58 3.72 2.87 1276 41.01
596 330 0.10 1475 47.41 3.85 21.62 2663 85.63
596 340 0.40 2364 76.01 1.47 12.88 3038 97.66
--------------------------------------------------------------------------
S8E 710 679 0.43 1209 38.87 1.58 6.93 1605 51.59
710 689 0.20 176 5.66 0.36 25.18 1386 44.57
710 699 0.30 3689 118.61 24.26 3.44 4876 156.77
650 683 1.10 879 28.25 28.14 11.97 2635 84.71
640 613 1.10 1589 51.10 1.47 8.52 2056 66.10
640 617 0.60 923 29.69 1.74 21.68 2026 65.14
640 623 0.70 2031 65.30 10.65 3.90 2666 85.71
640 628 0.20 880 28.28 12.46 4.22 1606 51.62
640 643 0.20 616 19.81 21.37 4.83 1747 56.17
640 663 1.00 470 15.12 10.48 7.65 1276 41.01
640 673 0.80 2191 70.45 8.16 13.63 3183 102.33
640 678 0.10 1161 37.33 4.78 12.44 1953 62.80
640 688 1.10 1151 37.00 37.84 7.62 3109 99.97
640 693 0.40 630 20.26 13.25 4.74 1414 45.47
640 698 0.80 1335 42.91 5.29 6.35 1859 59.78
640 703 0.30 1317 42.34 7.72 8.23 2033 65.37
--------------------------------------------------------------------------
S14 510 318 0.30 2498 80.30 38.94 3.57 4310 138.58
508 304 0.40 3208 103.13 68.15 1.42 6151 197.76
506 318 0.20 1731 55.64 48.36 0.55 3797 122.09
502 311 0.10 791 25.44 25.12 0.33 1867 60.01
500 310 0.30 7288 234.32 46.77 9.32 9704 312.00
500 163 0.25 759 24.41 12.27 0.06 1280 41.14
497 351 0.20 1165 37.46 27.82 2.57 2461 79.12
496 312 0.20 3085 99.20 55.08 0.31 5424 174.40
496 362 0.30 1088 34.99 19.52 1.56 1986 63.85
496 166 0.30 538 17.28 2.63 16.88 1450 46.61
487 315 0.20 2407 77.40 12.44 0.56 2959 95.13
480 671 0.30 2191 70.44 57.36 0.79 4649 149.46
480 676 0.30 647 20.79 12.23 1.04 1212 38.97
480 680 0.10 1657 53.28 58.94 0.68 4177 134.28
480 691 0.20 888 28.54 42.88 0.08 2701 86.84
480 696 0.05 1456 46.81 19.59 0.14 2289 73.61
480 706 0.50 811 26.09 17.87 0.30 1580 50.79
480 711 0.58 817 26.26 14.25 0.12 1424 45.78
480 716 0.40 706 22.69 19.63 0.11 1539 49.49
480 721 0.50 1134 36.45 14.14 0.31 1745 56.11
480 726 0.20 3013 96.85 67.42 0.33 5873 188.83
--------------------------------------------------------------------------
S16E 615 629 0.60 2091 67.23 3.06 24.30 3374 108.47
611 630 0.30 1835 59.00 49.85 11.70 4494 144.49
606 630 0.50 1751 56.29 42.96 11.65 4117 132.35
602 670 0.20 148 4.77 0.94 26.75 1458 46.87
602 630 0.40 2538 81.60 41.85 23.33 5411 173.98
597 670 0.40 694 22.31 3.91 11.34 1397 44.92
597 630 0.50 1390 44.70 33.80 16.19 3585 115.26
593 670 0.60 410 13.18 9.65 14.12 1488 47.83
592 630 0.20 675 21.70 17.33 15.15 2125 68.32
586 565 0.50 695 22.33 39.47 4.74 2585 83.11
584 670 0.20 738 23.72 19.84 11.01 2098 67.44
579 670 0.10 658 21.15 1.18 46.48 2914 93.69
579 630 0.15 244 7.85 21.74 2.21 1266 40.72
568 728 2.10 1145 36.81 15.16 4.30 1989 63.94
563 728 1.30 1404 45.13 43.29 3.27 3385 108.84
550 730 1.50 1638 52.68 20.66 11.29 3046 97.93
534 378 0.12 700 22.49 28.49 1.92 1993 64.07
534 383 0.20 653 20.98 11.89 2.65 1280 41.16
534 393 0.10 361 11.60 36.77 1.35 1977 63.55
534 398 0.10 885 28.45 42.78 0.34 2706 87.00
534 425 1.65 2902 93.30 14.02 6.57 3806 122.36
--------------------------------------------------------------------------
S16E1 570 665 0.30 670 21.55 7.83 9.46 1450 46.61
570 670 0.60 503 16.18 5.38 12.41 1320 42.42
570 675 0.10 1512 48.61 19.57 18.36 3209 103.19
570 680 0.15 746 23.98 9.35 10.23 1626 52.28
570 685 0.20 672 21.59 15.98 10.60 1849 59.44
534 605 0.15 697 22.42 5.10 11.31 1449 46.60
534 610 0.20 1171 37.65 36.77 2.57 2845 91.46
--------------------------------------------------------------------------
S16E2 610 720 0.15 1129 36.30 36.90 7.20 3028 97.35
570 665 0.30 670 21.55 7.83 9.46 1450 46.61
570 670 0.60 503 16.18 5.38 12.41 1320 42.42
570 675 0.10 1512 48.61 19.57 18.36 3209 103.19
570 680 0.15 746 23.98 9.35 10.23 1626 52.28
570 685 0.20 672 21.59 15.98 10.60 1849 59.44
--------------------------------------------------------------------------
S16E3 570 743 0.20 2022 65.02 30.62 5.82 3591 115.44
570 758 0.35 1763 56.68 31.61 13.55 3740 120.24
534 770 0.20 622 19.99 0.80 33.52 2247 72.24
534 775 0.40 333 10.70 1.72 39.03 2258 72.60
534 785 0.45 551 17.72 3.38 24.10 1838 59.09
534 790 0.40 704 22.65 9.37 25.05 2289 73.59
--------------------------------------------------------------------------
S16W 624 357 0.40 536 17.24 22.44 6.59 1796 57.74
610 657 0.10 1143 36.75 18.04 28.76 3269 105.11
610 662 0.15 1760 56.57 8.14 10.15 2585 83.10
610 667 0.10 799 25.68 28.45 12.11 2574 82.77
610 672 0.15 2385 76.68 5.72 5.90 2906 93.44
610 677 0.15 614 19.73 5.14 11.24 1364 43.86
600 -8 0.25 1050 33.76 32.51 5.84 2699 86.78
600 3 0.10 1341 43.11 58.60 5.58 4079 131.13
600 21 0.80 2995 96.29 51.87 11.98 5753 184.95
600 38 1.40 784 25.20 12.11 10.89 1812 58.25
600 46 1.40 690 22.17 7.66 10.85 1528 49.13
600 52 1.00 3012 96.84 79.11 1.72 6432 206.79
596 698 0.08 1576 50.66 31.36 12.37 3486 112.09
593 670 0.10 1519 48.83 26.07 14.40 3302 106.18
592 698 0.45 1599 51.42 42.34 11.67 3940 126.67
589 670 0.70 1386 44.55 15.38 9.38 2480 79.74
587 698 0.50 888 28.55 12.10 11.53 1946 62.57
580 674 0.15 871 27.99 13.50 14.61 2134 68.60
555 682 0.20 775 24.91 34.10 13.94 2876 92.45
551 683 0.15 468 15.04 13.35 20.77 2017 64.84
551 318 0.40 565 18.17 13.95 11.90 1719 55.26
547 683 0.10 1107 35.59 13.81 12.99 2306 74.15
542 684 0.10 165 5.31 6.16 36.20 2144 68.92
537 685 0.10 656 21.08 21.76 33.50 3164 101.73
537 63 0.15 1512 48.61 26.25 33.75 4222 135.74
--------------------------------------------------------------------------
S16W1 669 328 0.20 358 11.50 7.05 13.02 1273 40.94
661 329 0.14 654 21.01 13.56 4.39 1434 46.11
624 358 0.20 238 7.64 1.16 20.55 1262 40.58
571 298 0.10 1407 45.24 45.86 7.35 3691 118.67
534 338 0.25 537 17.28 37.31 3.64 2285 73.45
534 348 0.10 1209 38.88 51.99 1.47 3473 111.66
534 353 0.20 448 14.41 22.87 0.19 1422 45.73
534 363 1.10 657 21.13 16.36 0.89 1390 44.69
--------------------------------------------------------------------------
(i) Ag Equivalent is calculated on the basis of US$6.5/oz Ag, US$0.40/lb
for Pb, and US$0.45/lb for Zn. Calculations reflect gross metal
content and have not been adjusted for metallurgical recoveries.



Drill Hole Assay Results
--------------------------------------------------------------------------
Distance Intersection
Miner- to South ------------ Core
alized of CM103 Elevation From To Intervals
Veins Drill Holes (m) (m) (m) (m) (m)
--------------------------------------------------------------------------
S2 ZK1007(ii) 222 442 138.15 138.90 0.75
-------------------------------------------------------------------
ZK1009 247 363 218.25 218.85 0.60
-------------------------------------------------------------------
ZK1211 197 411 148.30 149.11 0.81
--------------------------------------------------------------------------
S2E ZK1605 -20 382 94.61 94.92 0.31
-------------------------------------------------------------------
ZK1608 -21 296 172.12 172.67 0.55
--------------------------------------------------------------------------
S4 ZK1009 254 335 251.30 251.85 0.55
--------------------------------------------------------------------------
S6 ZK12A07(ii) 181 394 217.75 218.25 0.50
-------------------------------------------------------------------
ZK1211(ii) 199 344 220.00 220.30 0.30
-------------------------------------------------------------------
ZK8A01 354 370 269.33 269.65 0.32
--------------------------------------------------------------------------
S7 ZKY4-1 -595 530 57.54 58.62 1.08
-------------------------------------------------------------------
ZK1409 -15 597 91.36 91.86 0.50
-------------------------------------------------------------------
ZK14A08 38 601 102.77 103.25 0.48
-------------------------------------------------------------------
ZK14B01 -101 465 177.62 177.86 0.24
-------------------------------------------------------------------
K6A06 333 660 142.07 142.62 0.55
-------------------------------------------------------------------
ZK4A06 407 662 161.82 164.59 2.77
--------------------------------------------------------------------------
S7-1 ZK14A08 43 605 115.25 115.90 0.65
-------------------------------------------------------------------
ZK1903(ii) 1673 564 158.65 159.80 1.15
-------------------------------------------------------------------
ZK1905(ii) 1672 378 321.60 321.90 0.30
-------------------------------------------------------------------
ZK1907(ii) 1686 374 305.90 306.20 0.30
-------------------------------------------------------------------
ZK6A06 330 662 163.47 163.58 0.11
-------------------------------------------------------------------
ZK4A06 412 663 173.44 174.16 0.72
--------------------------------------------------------------------------
S7-3 ZK1905(ii) 1672 374 324.78 325.15 0.37
--------------------------------------------------------------------------
S8 ZK12B02 -51 440 145.27 146.07 0.80
-------------------------------------------------------------------
ZK32A01 -919 446 153.18 153.33 0.15
-------------------------------------------------------------------
ZK3201 -981 427 205.90 206.55 0.65
-------------------------------------------------------------------
ZK3001 -876 433 149.96 150.52 0.56
--------------------------------------------------------------------------
S8E ZK32A01 -928 431 171.86 172.66 0.80
--------------------------------------------------------------------------
S14 ZK16B02 -62 286 277.85 278.45 0.60
-------------------------------------------------------------------
ZK1007 306 302 331.95 332.80 0.85
-------------------------------------------------------------------
ZK12A07 168 319 330.25 332.60 2.35
-------------------------------------------------------------------
ZK1606 -20 319 246.05 246.60 0.55
-------------------------------------------------------------------
ZK14A03 -37 386 194.15 194.85 0.70
-------------------------------------------------------------------
ZK16B03 -64 357 209.90 210.40 0.50
-------------------------------------------------------------------
ZK1211 219 93 499.20 499.60 0.40
-------------------------------------------------------------------
ZK16B04 -73 237 319.88 320.20 0.32
--------------------------------------------------------------------------
S16E ZK5805 323 297 327.10 327.40 0.30
--------------------------------------------------------------------------
S16W ZK5805 331 255 378.35 379.00 0.65
-------------------------------------------------------------------
ZK5405 438 379 325.15 325.85 0.70
-------------------------------------------------------------------
ZK6006 265 176 435.85 436.35 0.50
--------------------------------------------------------------------------

Drill Hole Assay Results
--------------------------------------------------------------------------
Ag Ag
Miner- Equiv- Equiv-
alized Drill Ag Ag Pb Zn alent(i) alent(i)
Veins Holes (g/t) (oz/t) (%) (%) (g/t) ( oz/t)
--------------------------------------------------------------------------
S2 ZK1007(ii) 152 4.88 0.74 0.22 193 6.22
-------------------------------------------------------------------
ZK1009 277 8.90 0.56 1.26 360 11.58
-------------------------------------------------------------------
ZK1211 116 3.74 1.32 0.41 191 6.15
--------------------------------------------------------------------------
S2E ZK1605 922 29.63 55.11 11.18 3778 121.46
-------------------------------------------------------------------
ZK1608 19 0.61 1.67 1.92 181 5.82
--------------------------------------------------------------------------
S4 ZK1009 207 6.65 2.82 2.34 437 14.05
--------------------------------------------------------------------------
S6 ZK12A07(ii) 61 1.95 1.04 0.19 114 3.65
-------------------------------------------------------------------
ZK1211(ii) 35 1.13 1.89 1.01 163 5.24
-------------------------------------------------------------------
ZK8A01 200 6.41 6.92 0.22 502 16.14
--------------------------------------------------------------------------
S7 ZKY4-1 203 6.51 13.35 13.70 1416 45.53
-------------------------------------------------------------------
ZK1409 1938 62.31 3.51 9.96 2559 82.27
-------------------------------------------------------------------
ZK14A08 164 5.26 3.02 9.90 761 24.47
-------------------------------------------------------------------
ZK14B01 1184 38.05 7.45 2.86 1634 52.53
-------------------------------------------------------------------
K6A06 30 0.97 1.36 0.95 133 4.27
-------------------------------------------------------------------
ZK4A06 80 2.58 0.29 0.17 100 3.23
--------------------------------------------------------------------------
S7-1 ZK14A08 110 3.52 1.96 20.09 1146 36.85
-------------------------------------------------------------------
ZK1903(ii) 605 19.46 1.70 8.92 1101 35.38
-------------------------------------------------------------------
ZK1905(ii) 726 23.33 15.61 20.95 2379 76.48
-------------------------------------------------------------------
ZK1907(ii) 986 31.71 1.25 7.03 1373 44.14
-------------------------------------------------------------------
ZK6A06 507 16.30 22.21 16.30 2218 71.31
-------------------------------------------------------------------
ZK4A06 183 5.88 1.32 0.29 252 8.10
--------------------------------------------------------------------------
S7-3 ZK1905(ii) 2711 87.16 23.02 13.18 4308 138.52
--------------------------------------------------------------------------
S8 ZK12B02 329 10.58 0.41 0.87 388 12.46
-------------------------------------------------------------------
ZK32A01 16 0.51 2.93 0.12 146 4.68
-------------------------------------------------------------------
ZK3201 44 1.40 8.93 1.50 492 15.81
-------------------------------------------------------------------
ZK3001 172 5.53 2.00 0.74 291 9.37
--------------------------------------------------------------------------
S8E ZK32A01 17 0.53 3.49 0.10 169 5.42
--------------------------------------------------------------------------
S14 ZK16B02 1078 34.67 14.71 2.66 1825 58.69
-------------------------------------------------------------------
ZK1007 891 28.63 14.59 0.70 1539 49.49
-------------------------------------------------------------------
ZK12A07 138 4.45 0.54 2.09 261 8.38
-------------------------------------------------------------------
ZK1606 370 11.91 5.49 4.10 797 25.61
-------------------------------------------------------------------
ZK14A03 1919 61.70 56.86 0.52 4343 139.63
-------------------------------------------------------------------
ZK16B03 34 1.08 1.04 0.95 123 3.95
-------------------------------------------------------------------
ZK1211 435 13.98 1.07 0.28 493 15.86
-------------------------------------------------------------------
ZK16B04 221 7.11 6.77 1.28 567 18.24
--------------------------------------------------------------------------
S16E ZK5805 399 12.83 0.91 8.55 843 27.11
--------------------------------------------------------------------------
S16W ZK5805 82 2.63 0.28 0.56 120 3.87
-------------------------------------------------------------------
ZK5405 74 2.37 1.15 9.39 568 18.26
-------------------------------------------------------------------
ZK6006 34 1.09 3.81 0.06 198 6.36
--------------------------------------------------------------------------
(i) Ag Equivalent is calculated on the basis of US$6.5/oz Ag,
US$0.40/lb for Pb, and US$0.45/lb for Zn. Calculations reflect
gross metal content and have not been adjusted for metallurgical
recoveries.
(ii) Surface diamond drill holes


Tunnel and drill hole plans, cross sections and longitudinal maps of the veins are available on Silvercorp's website: www.silvercorp.ca.

Myles Gao, P.Geo., is the Qualified Person on the project under NI 43-101. Exploration and mining at the Ying mine is being carried out through Silvercorp's 77.5% subsidiary, Henan Found Mining Co. Ltd., a Sino-foreign joint venture company which holds 100% of the Ying Project and operates under a 30-year business license.

Quality Control

Quality Control/Quality Assurance Program is disclosed in the January 22, 2007 press release.

SILVERCORP METALS INC.

Statements in this press release other than purely historical information, including statements relating to Silvercorp'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 Silvercorp'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. Production and revenue projections are based not on mineral reserves but on mineral resources which do not have demonstrated economic viability.

Contact Information

  • Silvercorp Metals Inc.
    Rui Feng
    Chairman & CEO
    (604) 669-9397
    or
    Silvercorp Metals Inc.
    Cathy Fong
    President
    (604) 669-9397
    (604) 669-9387 (FAX)
    Email: info@silvercorp.ca
    Website: www.silvercorp.ca