Silvercorp Metals Inc.

Silvercorp Metals Inc.

October 21, 2005 09:00 ET

Silvercorp to be Listed on Toronto Stock Exchange October 24, 2005

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 21, 2005) - Dr. Rui Feng, Chairman and CEO of Silvercorp Metals Inc. (TSX VENTURE:SVM) is pleased to announce that effective at market open Monday October 24, 2005 Silvercorp will commence trading on the Toronto Stock Exchange, under its symbol: "SVM". The Company's shares will concurrently be delisted from the TSX Venture Exchange.

Silvercorp is rapidly advancing its Ying high-grade Silver Project located in Henan Province, China, where the average grade in vein runs 1,393 grams per tonne Silver, 32.7% lead and 9.5% zinc (per the April 18, 2005 NI 43-101 report). The 2005 exploration and development program is ahead of schedule with about 2,500 metres (m) of tunnels and 1,500m of underground drilling completed each month. Twenty-eight professional geologists, engineers and surveyors are on site, overseeing 400+ miners working on over 40 development and exploration tunnel faces and 4 underground drill rigs on a day-to-day basis. With the mining permit targeted for spring of 2006, it is expected that the Ying project will have over 25 km of tunnels and three ore hoisting shafts completed, thereby providing broad access to immediately commence production.

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)