# EDGAR Filing Document

**Accession Number:** 0001340677
**File Stem:** 0001279569-23-000033
**Filing Date:** 2023-1
**Character Count:** 24017
**Document Hash:** bdff1312e405861bfc330a324b7b2007
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001279569-23-000033.hdr.sgml**: 20230113

**ACCESSION NUMBER**: 0001279569-23-000033

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230113

**FILED AS OF DATE**: 20230113

**DATE AS OF CHANGE**: 20230113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SILVERCORP METALS INC
- **CENTRAL INDEX KEY:** 0001340677
- **STANDARD INDUSTRIAL CLASSIFICATION:** GOLD & SILVER ORES [1040]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34184
- **FILM NUMBER:** 23527800

**BUSINESS ADDRESS:**
- **STREET 1:** SUITE 1378
- **STREET 2:** 200 GRANVILLE STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1S4
- **BUSINESS PHONE:** 604-669-9397

**MAIL ADDRESS:**
- **STREET 1:** SUITE 1378
- **STREET 2:** 200 GRANVILLE STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6C 1S4

**UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION**<br> **Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER**

**PURSUANT TO RULE 13a-16 OR 15d-16 OF<br> THE SECURITIES EXCHANGE ACT OF 1934**

January 13, 2023

Commission File No. 0001-34184

**<u>SILVERCORP METALS INC.</u>**<br> (Translation of registrant's name into English)

**Suite 1750 - 1066 West Hastings Street<br> <u>Vancouver, BC Canada V6E 3X1</u>**<br> (Address of principal executive office)

[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]

Form 20-F [ ] Form 40-F [ X ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) [ ]

**Note:** Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is "submitting" the Form 6-K in paper as permitted by Regulation S-T "Rule" 101(b)(7) [ ]

**Note:** Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| Dated: January 13, 2023 | **SILVERCORP METALS INC.** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Derek Liu</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derek Liu |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer |

---

EXHIBIT INDEX

<br> <u>EXHIBIT</u> <u>DESCRIPTION OF EXHIBIT</u>

<br> [99.1](ex991.htm) [News Release - January 13, 2023 - SILVERCORP REPORTS OPERATIONAL RESULTS AND THE FINANCIAL RESULTS RELEASE DATE FOR THE THIRD QUARTER OF FISCAL 2023](ex991.htm)

## Exhibit 99.1

**Exhibit 99.1**

![](logo.jpg)

**SILVERCORP REPORTS OPERATIONAL RESULTS AND THE FINANCIAL RESULTS RELEASE DATE FOR THE THIRD QUARTER OF FISCAL 2023**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Trading Symbol:** | &nbsp;&nbsp;**TSX: SVM** |
|  | &nbsp;&nbsp;**NYSE AMERICAN: SVM** |

---

VANCOUVER, BC, Jan. 13, 2023 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE: SVM) reports production and sales figures for the third quarter of fiscal 2023 ended December 31, 2022 ("Q3 Fiscal 2023"). The Company expects to release its Q3 Fiscal 2023 unaudited financial results on Thursday, February 9, 2023 after market close.

In Q3 Fiscal 2023, the Company produced approximately 1.9 million ounces of silver, 1,100 ounces of gold, 20.1 million pounds of lead, and 7.0 million pounds of zinc, representing increases of 1%, 0%, and 6%, respectively, in silver, gold, and lead, and a decrease of 13% in zinc compared to the third quarter ended December 31, 2021 ("Q3 Fiscal 2022").

For the first nine months of Fiscal 2023, the Company produced approximately 5.5 million ounces of silver, 3,400 ounces of gold, 57.1 million pounds of lead, and 19.9 million pounds of zinc, representing increases of 10%, 17%, and 9%, respectively, in silver, gold and lead, and a decrease of 12% in zinc compared to the same prior year period.

**<u>Q3 FISCAL 2023 OPERATING HIGHLIGHTS</u>**

* On a consolidated basis, 296,050 tonnes of ore were mined, up
1% over Q3 Fiscal 2022, and 303,442 tonnes of ore were milled, effectively the same as in Q3 Fiscal 2022.

* On a consolidated basis, the Company sold approximately 1.9 million
ounces of silver, 1,100 ounces of gold, 19.3 million pounds of lead, and 7.1 million pounds of zinc, compared to approximately 1.7 million
ounces of silver, 1,100 ounces of gold, 17.2 million pounds of lead and 7.6 million pounds of zinc in Q3 Fiscal 2022.

* At the Ying Mining District, 206,854 tonnes of ore were mined,
up 3% over Q3 Fiscal 2022, and 213,830 tonnes of ore were milled, down 1% over Q3 Fiscal 2022. Approximately 1.7 million ounces of silver,
1,100 ounces of gold, 17.6 million pounds of lead, and 2.1 million pounds of zinc were produced, representing increases of 2%, 0%, and
8%, respectively, in silver, gold, and lead, and a decrease of 11% in zinc compared to Q3 Fiscal 2022.

* At the GC Mine, 89,196 tonnes of ore were mined, down 2% over
Q3 Fiscal 2022, and 89,612 tonnes of ore were milled, essentially the same as in Q3 Fiscal 2022, and up 19% over last quarter. Approximately
179 thousand ounces of silver, 2.4 million pounds of lead, and 4.9 million pounds of zinc were produced, representing decreases of 4%,
7% and 14%, respectively, in silver, lead and zinc compared to Q3 Fiscal 2022, but up 27%, 35% and 22% respectively, in silver, lead and
zinc over last quarter.

The consolidated operational results for the past five quarters and for the nine months ended December 31, 2022 and 2021 are summarized as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**Q3 F2023** | &nbsp;&nbsp;**Q2 F2023** | &nbsp;&nbsp;**Q1 F2023** | &nbsp;&nbsp;**Q4 F2022** | &nbsp;&nbsp;**Q3 F2022** | &nbsp;&nbsp;**Nine months ended December 31,** | &nbsp;&nbsp;**Nine months ended December 31,** |
| &nbsp;&nbsp;**Consolidated** | &nbsp;&nbsp; **December 31, 2022** | &nbsp;&nbsp; **September 30, 2022** | &nbsp;&nbsp; **June 30, 2022** | &nbsp;&nbsp; **March 31, 2022** | &nbsp;&nbsp; **December 31, 2021** | &nbsp;&nbsp;**2022** | &nbsp;&nbsp;**2021** |
| &nbsp;&nbsp;**Production Data** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Ore Mined (tonne)** | &nbsp;&nbsp;**296050** | &nbsp;&nbsp;290981 | &nbsp;&nbsp;300104 | &nbsp;&nbsp;180505 | &nbsp;&nbsp;292072 | &nbsp;&nbsp;**887135** | &nbsp;&nbsp;815775 |
| &nbsp;&nbsp; **Ore Milled (tonne)** | &nbsp;&nbsp;**303442** | &nbsp;&nbsp;291643 | &nbsp;&nbsp;298176 | &nbsp;&nbsp;182670 | &nbsp;&nbsp;304772 | &nbsp;&nbsp;**893261** | &nbsp;&nbsp;819665 |
| &nbsp;&nbsp; **Head Grades** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (gram/tonne)** | &nbsp;&nbsp;**207** | &nbsp;&nbsp;209 | &nbsp;&nbsp;210 | &nbsp;&nbsp;213 | &nbsp;&nbsp;205 | &nbsp;&nbsp;**209** | &nbsp;&nbsp;208 |
| &nbsp;&nbsp; **Lead (%)** | &nbsp;&nbsp;**3.3** | &nbsp;&nbsp;3.1 | &nbsp;&nbsp;3.1 | &nbsp;&nbsp;3.2 | &nbsp;&nbsp;3.1 | &nbsp;&nbsp;**3.2** | &nbsp;&nbsp;3.2 |
| &nbsp;&nbsp; **Zinc (%)** | &nbsp;&nbsp;**1.3** | &nbsp;&nbsp;1.2 | &nbsp;&nbsp;1.4 | &nbsp;&nbsp;1.4 | &nbsp;&nbsp;1.5 | &nbsp;&nbsp;**1.3** | &nbsp;&nbsp;1.6 |
| &nbsp;&nbsp; **Recovery Rates** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (%)** | &nbsp;&nbsp;**94.4** | &nbsp;&nbsp;94.2 | &nbsp;&nbsp;94.5 | &nbsp;&nbsp;94.2 | &nbsp;&nbsp;93.8 | &nbsp;&nbsp;**94.4** | &nbsp;&nbsp;93.7 |
| &nbsp;&nbsp; **Lead (%)** | &nbsp;&nbsp;**94.7** | &nbsp;&nbsp;93.6 | &nbsp;&nbsp;94.7 | &nbsp;&nbsp;95.2 | &nbsp;&nbsp;94.4 | &nbsp;&nbsp;**94.3** | &nbsp;&nbsp;94.5 |
| &nbsp;&nbsp; **Zinc (%)** | &nbsp;&nbsp;**81.3** | &nbsp;&nbsp;78.2 | &nbsp;&nbsp;78.1 | &nbsp;&nbsp;75.8 | &nbsp;&nbsp;80.1 | &nbsp;&nbsp;**79.2** | &nbsp;&nbsp;80.0 |
| &nbsp;&nbsp;**Metal production** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (in thousands of ounces)** | &nbsp;&nbsp;**1853** | &nbsp;&nbsp;1798 | &nbsp;&nbsp;1860 | &nbsp;&nbsp;1146 | &nbsp;&nbsp;1834 | &nbsp;&nbsp;**5511** | &nbsp;&nbsp;5003 |
| &nbsp;&nbsp; **Gold (in thousands of ounces)** | &nbsp;&nbsp;**1.1** | &nbsp;&nbsp;1.2 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;0.5 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;**3.4** | &nbsp;&nbsp;2.9 |
| &nbsp;&nbsp; **Lead (in thousands of pounds)** | &nbsp;&nbsp;**20059** | &nbsp;&nbsp;17983 | &nbsp;&nbsp;19088 | &nbsp;&nbsp;11962 | &nbsp;&nbsp;18978 | &nbsp;&nbsp;**57130** | &nbsp;&nbsp;52469 |
| &nbsp;&nbsp; **Zinc (in thousands of pounds)** | &nbsp;&nbsp;**6974** | &nbsp;&nbsp;5986 | &nbsp;&nbsp;6926 | &nbsp;&nbsp;4101 | &nbsp;&nbsp;8030 | &nbsp;&nbsp;**19886** | &nbsp;&nbsp;22711 |
| &nbsp;&nbsp;**Metals sold** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (in thousands of ounces)** | &nbsp;&nbsp;**1860** | &nbsp;&nbsp;1789 | &nbsp;&nbsp;1915 | &nbsp;&nbsp;1173 | &nbsp;&nbsp;1721 | &nbsp;&nbsp;**5564** | &nbsp;&nbsp;5092 |
| &nbsp;&nbsp; **Gold (in thousands of ounces)** | &nbsp;&nbsp;**1.1** | &nbsp;&nbsp;1.2 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;0.5 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;**3.4** | &nbsp;&nbsp;2.9 |
| &nbsp;&nbsp; **Lead (in thousands of pounds)** | &nbsp;&nbsp;**19273** | &nbsp;&nbsp;17268 | &nbsp;&nbsp;19125 | &nbsp;&nbsp;12279 | &nbsp;&nbsp;17155 | &nbsp;&nbsp;**55666** | &nbsp;&nbsp;51284 |
| &nbsp;&nbsp; **Zinc (in thousands of pounds)** | &nbsp;&nbsp;**7119** | &nbsp;&nbsp;5940 | &nbsp;&nbsp;6928 | &nbsp;&nbsp;4340 | &nbsp;&nbsp;7588 | &nbsp;&nbsp;**19987** | &nbsp;&nbsp;22469 |

---

The operational results at the Ying Mining District for the past five quarters and for the nine months ended December 31, 2022 and 2021 are summarized as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**Q3 F2023** | &nbsp;&nbsp;**Q2 F2023** | &nbsp;&nbsp;**Q1 F2023** | &nbsp;&nbsp;**Q4 F2022** | &nbsp;&nbsp;**Q3 F2022** | &nbsp;&nbsp;**Nine months ended December 31,** | &nbsp;&nbsp;**Nine months ended December 31,** |
| &nbsp;&nbsp;**Ying Mining District** | &nbsp;&nbsp; **December 31, 2022** | &nbsp;&nbsp; **September 30, 2022** | &nbsp;&nbsp; **June 30, 2022** | &nbsp;&nbsp; **March 31, 2022** | &nbsp;&nbsp; **December 31, 2021** | &nbsp;&nbsp;**2022** | &nbsp;&nbsp;**2021** |
| &nbsp;&nbsp;**Production Data** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Ore Mined (tonne)** | &nbsp;&nbsp;**206854** | &nbsp;&nbsp;215927 | &nbsp;&nbsp;214038 | &nbsp;&nbsp;130612 | &nbsp;&nbsp;200946 | &nbsp;&nbsp;**636819** | &nbsp;&nbsp;550786 |
| &nbsp;&nbsp; **Ore Milled (tonne)** | &nbsp;&nbsp;**213830** | &nbsp;&nbsp;216262 | &nbsp;&nbsp;212055 | &nbsp;&nbsp;131731 | &nbsp;&nbsp;214982 | &nbsp;&nbsp;**642147** | &nbsp;&nbsp;552562 |
| &nbsp;&nbsp; **Head Grades** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (gram/tonne)** | &nbsp;&nbsp;**262** | &nbsp;&nbsp;257 | &nbsp;&nbsp;267 | &nbsp;&nbsp;271 | &nbsp;&nbsp;258 | &nbsp;&nbsp;**262** | &nbsp;&nbsp;272 |
| &nbsp;&nbsp; **Lead (%)** | &nbsp;&nbsp;**4.0** | &nbsp;&nbsp;3.7 | &nbsp;&nbsp;3.9 | &nbsp;&nbsp;3.9 | &nbsp;&nbsp;3.7 | &nbsp;&nbsp;**3.9** | &nbsp;&nbsp;3.9 |
| &nbsp;&nbsp; **Zinc (%)** | &nbsp;&nbsp;**0.7** | &nbsp;&nbsp;0.7 | &nbsp;&nbsp;0.7 | &nbsp;&nbsp;0.8 | &nbsp;&nbsp;0.8 | &nbsp;&nbsp;**0.7** | &nbsp;&nbsp;0.8 |
| &nbsp;&nbsp; **Recovery Rates** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (%)** | &nbsp;&nbsp;**95.7** | &nbsp;&nbsp;95.5 | &nbsp;&nbsp;95.7 | &nbsp;&nbsp;95.2 | &nbsp;&nbsp;95.1 | &nbsp;&nbsp;**95.7** | &nbsp;&nbsp;95.1 |
| &nbsp;&nbsp; **Lead (%)** | &nbsp;&nbsp;**95.4** | &nbsp;&nbsp;94.1 | &nbsp;&nbsp;95.4 | &nbsp;&nbsp;96.1 | &nbsp;&nbsp;95.2 | &nbsp;&nbsp;**95.0** | &nbsp;&nbsp;95.5 |
| &nbsp;&nbsp; **Zinc (%)** | &nbsp;&nbsp;**66.4** | &nbsp;&nbsp;62.5 | &nbsp;&nbsp;58.1 | &nbsp;&nbsp;57.4 | &nbsp;&nbsp;64.0 | &nbsp;&nbsp;**62.3** | &nbsp;&nbsp;60.3 |
| &nbsp;&nbsp;**Metal production** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (in thousands of ounces)** | &nbsp;&nbsp;**1674** | &nbsp;&nbsp;1657 | &nbsp;&nbsp;1696 | &nbsp;&nbsp;1062 | &nbsp;&nbsp;1647 | &nbsp;&nbsp;**5027** | &nbsp;&nbsp;4447 |
| &nbsp;&nbsp; **Gold (in thousands of ounces)** | &nbsp;&nbsp;**1.1** | &nbsp;&nbsp;1.2 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;0.5 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;**3.4** | &nbsp;&nbsp;2.9 |
| &nbsp;&nbsp; **Lead (in thousands of pounds)** | &nbsp;&nbsp;**17647** | &nbsp;&nbsp;16201 | &nbsp;&nbsp;16718 | &nbsp;&nbsp;10542 | &nbsp;&nbsp;16392 | &nbsp;&nbsp;**50566** | &nbsp;&nbsp;44341 |
| &nbsp;&nbsp; **Zinc (in thousands of pounds)** | &nbsp;&nbsp;**2082** | &nbsp;&nbsp;1976 | &nbsp;&nbsp;1928 | &nbsp;&nbsp;1317 | &nbsp;&nbsp;2347 | &nbsp;&nbsp;**5986** | &nbsp;&nbsp;5450 |
| &nbsp;&nbsp;**Metals sold** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (in thousands of ounces)** | &nbsp;&nbsp;**1675** | &nbsp;&nbsp;1649 | &nbsp;&nbsp;1759 | &nbsp;&nbsp;1058 | &nbsp;&nbsp;1561 | &nbsp;&nbsp;**5083** | &nbsp;&nbsp;4561 |
| &nbsp;&nbsp; **Gold (in thousands of ounces)** | &nbsp;&nbsp;**1.1** | &nbsp;&nbsp;1.2 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;0.5 | &nbsp;&nbsp;1.1 | &nbsp;&nbsp;**3.4** | &nbsp;&nbsp;2.9 |
| &nbsp;&nbsp; **Lead (in thousands of pounds)** | &nbsp;&nbsp;**16969** | &nbsp;&nbsp;15587 | &nbsp;&nbsp;16760 | &nbsp;&nbsp;10278 | &nbsp;&nbsp;15003 | &nbsp;&nbsp;**49316** | &nbsp;&nbsp;43614 |
| &nbsp;&nbsp; **Zinc (in thousands of pounds)** | &nbsp;&nbsp;**2143** | &nbsp;&nbsp;1882 | &nbsp;&nbsp;2035 | &nbsp;&nbsp;1524 | &nbsp;&nbsp;1947 | &nbsp;&nbsp;**6060** | &nbsp;&nbsp;5085 |

---

The operational results at the GC Mine for the past five quarters and for the nine months ended December 31, 2022 and 2021 are summarized as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**Q3 F2023** | &nbsp;&nbsp;**Q2 F2023** | &nbsp;&nbsp;**Q1 F2023** | &nbsp;&nbsp;**Q4 F2022** | &nbsp;&nbsp;**Q3 F2022** | &nbsp;&nbsp;**Nine months ended December 31,** | &nbsp;&nbsp;**Nine months ended December 31,** |
| &nbsp;&nbsp;**GC Mine** | &nbsp;&nbsp; **December 31, 2022** | &nbsp;&nbsp; **September 30, 2022** | &nbsp;&nbsp; **June 30, 2022** | &nbsp;&nbsp; **March 31, 2022** | &nbsp;&nbsp; **December 31, 2021** | &nbsp;&nbsp;**2022** | &nbsp;&nbsp;**2021** |
| &nbsp;&nbsp;**Production Data** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Ore Mined (tonne)** | &nbsp;&nbsp;**89196** | &nbsp;&nbsp;75054 | &nbsp;&nbsp;86066 | &nbsp;&nbsp;49893 | &nbsp;&nbsp;91126 | &nbsp;&nbsp;**250316** | &nbsp;&nbsp;264989 |
| &nbsp;&nbsp; **Ore Milled (tonne)** | &nbsp;&nbsp;**89612** | &nbsp;&nbsp;75381 | &nbsp;&nbsp;86121 | &nbsp;&nbsp;50939 | &nbsp;&nbsp;89790 | &nbsp;&nbsp;**251114** | &nbsp;&nbsp;267103 |
| &nbsp;&nbsp; **Head Grades** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (gram/tonne)** | &nbsp;&nbsp;**75** | &nbsp;&nbsp;72 | &nbsp;&nbsp;71 | &nbsp;&nbsp;62 | &nbsp;&nbsp;78 | &nbsp;&nbsp;**73** | &nbsp;&nbsp;77 |
| &nbsp;&nbsp; **Lead (%)** | &nbsp;&nbsp;**1.4** | &nbsp;&nbsp;1.2 | &nbsp;&nbsp;1.4 | &nbsp;&nbsp;1.4 | &nbsp;&nbsp;1.5 | &nbsp;&nbsp;**1.3** | &nbsp;&nbsp;1.5 |
| &nbsp;&nbsp; **Zinc (%)** | &nbsp;&nbsp;**2.8** | &nbsp;&nbsp;2.7 | &nbsp;&nbsp;2.9 | &nbsp;&nbsp;2.8 | &nbsp;&nbsp;3.2 | &nbsp;&nbsp;**2.8** | &nbsp;&nbsp;3.3 |
| &nbsp;&nbsp; **Recovery Rates** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (%)** | &nbsp;&nbsp;**83.0** | &nbsp;&nbsp;81.0 | &nbsp;&nbsp;83.4 | &nbsp;&nbsp;82.4 | &nbsp;&nbsp;83.5 | &nbsp;&nbsp;**82.5** | &nbsp;&nbsp;84.0 |
| &nbsp;&nbsp; **Lead (%)** | &nbsp;&nbsp;**90.3** | &nbsp;&nbsp;88.5 | &nbsp;&nbsp;89.8 | &nbsp;&nbsp;88.7 | &nbsp;&nbsp;89.0 | &nbsp;&nbsp;**89.6** | &nbsp;&nbsp;89.3 |
| &nbsp;&nbsp; **Zinc (%)** | &nbsp;&nbsp;**90.1** | &nbsp;&nbsp;89.6 | &nbsp;&nbsp;90.4 | &nbsp;&nbsp;89.8 | &nbsp;&nbsp;89.8 | &nbsp;&nbsp;**90.1** | &nbsp;&nbsp;89.6 |
| &nbsp;&nbsp;**Metal production** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (in thousands of ounces)** | &nbsp;&nbsp;**179** | &nbsp;&nbsp;141 | &nbsp;&nbsp;164 | &nbsp;&nbsp;84 | &nbsp;&nbsp;187 | &nbsp;&nbsp;**484** | &nbsp;&nbsp;556 |
| &nbsp;&nbsp; **Lead (in thousands of pounds)** | &nbsp;&nbsp;**2412** | &nbsp;&nbsp;1782 | &nbsp;&nbsp;2370 | &nbsp;&nbsp;1420 | &nbsp;&nbsp;2586 | &nbsp;&nbsp;**6564** | &nbsp;&nbsp;8128 |
| &nbsp;&nbsp; **Zinc (in thousands of pounds)** | &nbsp;&nbsp;**4892** | &nbsp;&nbsp;4010 | &nbsp;&nbsp;4998 | &nbsp;&nbsp;2784 | &nbsp;&nbsp;5683 | &nbsp;&nbsp;**13900** | &nbsp;&nbsp;17261 |
| &nbsp;&nbsp;**Metals sold** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; **Silver (in thousands of ounces)** | &nbsp;&nbsp;**185** | &nbsp;&nbsp;140 | &nbsp;&nbsp;156 | &nbsp;&nbsp;115 | &nbsp;&nbsp;160 | &nbsp;&nbsp;**481** | &nbsp;&nbsp;531 |
| &nbsp;&nbsp; **Lead (in thousands of pounds)** | &nbsp;&nbsp;**2304** | &nbsp;&nbsp;1681 | &nbsp;&nbsp;2365 | &nbsp;&nbsp;2001 | &nbsp;&nbsp;2152 | &nbsp;&nbsp;**6350** | &nbsp;&nbsp;7670 |
| &nbsp;&nbsp; **Zinc (in thousands of pounds)** | &nbsp;&nbsp;**4976** | &nbsp;&nbsp;4058 | &nbsp;&nbsp;4893 | &nbsp;&nbsp;2816 | &nbsp;&nbsp;5641 | &nbsp;&nbsp;**13927** | &nbsp;&nbsp;17384 |

---

**About Silvercorp** 

Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company's strategy is to create shareholder value by 1) focusing on generating free cashflow from long life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorp.ca.

**For further information**<br> Silvercorp Metals Inc. <br> Lon Shaver <br> Vice President<br> Phone: (604) 669-9397<br> Toll Free 1(888) 224-1881<br> Email: investor@silvercorp.ca<br> Website: www.silvercorp.ca

***CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS***

*Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively, "forward-looking statements"). Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking statements relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the Company's mines in the Ying Mining District and the GC Mine; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company's properties.*

*Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks relating to: social and economic impacts of COVID-19; fluctuating commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licences; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition; operations and political conditions; regulatory environment in China and Canada; environmental risks; legislative and regulatory initiatives addressing global climate change or other environmental concerns; foreign exchange rate fluctuations; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over financial reporting; and bringing actions and enforcing judgments under U.S. securities laws.*

*This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company's Annual Information Form under the heading "Risk Factors". Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements.* 

*The Company's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.*

*Additional information related to the Company, including Silvercorp's Annual Information Form, can be obtained under the Company's profile on SEDAR at www.sedar.com, on EDGAR at www.sec.gov, and on the Company's website at www.silvercorp.ca.*

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SOURCE Silvercorp Metals Inc

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January 2023/13/c3994.html

%CIK: 0001340677

CO: Silvercorp Metals Inc

CNW 07:30e 13-JAN-23