Silvercorp Metals Inc.

Silvercorp Metals Inc.

September 01, 2005 13:27 ET

Silvercorp Increases Private Placement to $6,400,000

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 1, 2005) - Silvercorp Metals Inc. (TSX VENTURE:SVM) ("Silvercorp") announces that, due to investor interest, the private placement announced August 31, 2005, has been increased from 1,250,000 Units to 2,000,000 Units for total proceeds of $6,400,000. Each Unit is priced at $3.20 and is comprised of one common share and one-half share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share for a period of one year at $4.60 per share. The proceeds of the placement will be added to working capital. The placement is subject to regulatory approval.


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
    Silvercorp Metals Inc.
    Cathy Fong
    VP Corporate Development
    (604) 669-9397
    (604) 669-9387 (FAX)