Silvercorp Metals Inc.
TSX : SVM

Silvercorp Metals Inc.

November 15, 2006 15:00 ET

Silvercorp Donates RMB1.25 Million Yuan Towards the Construction of a Youth Center in Luoning County, Henan Province, China

LUONING CITY, HENAN PROVINCE, CHINA--(CCNMatthews - Nov. 15, 2006) - Silvercorp Metals Inc. ("Silvercorp") (TSX:SVM) is committed to contributing to the growth and prosperity of communities in which it is active. As part of this commitment, Silvercorp's 77.5%-owned subsidiary, Henan Found Mining Co. Ltd. ("Henan Found") has donated RMB yens 1.25 million (approximately US$159,000)towards the construction of the Henan Found Youth Recreation and Activity Center, in Luoning county of Henan province, China.

Located in the middle of a large and newly-constructed central square and park for the county, the center will provide educational support and recreational activities for children in Luoning, the administrative seat for the county in which Silvercorp's Ying silver and HPG Gold-Silver-Lead projects are located.

A county of approximately 445,000 inhabitants and 2,306 square kilometres in size , Luoning is situated in the highly populated and developing central Chinese province of Henan (population: approximately 100 million), and its leadership is grateful for this important contribution made by Silvercorp towards the enhancement of educational and developmental opportunities for the youth of the county. Present at the inauguration ceremony on behalf Silvercorp were Dr. Rui Feng, Chairman and CEO, as well as Mr. Philippe Rheault, Vice President, and China General Counsel. Local attendees at the ceremony included the county's Party Secretary and other top leaders. Photos of the Center and of the ceremony can be viewed at Silvercorp's website at www.silvercorp.ca.

One of the largest employers and contributors to the local tax base in the county, Silvercorp is committed not only to responsible mining practices but also to making a positive contribution in the communities in which it is active. Silvercorp looks forward to making additional contributions in support of the development of Luoning County as it continues to grow and build on the success of its operations in the area.

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.

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