Authorization

Silvercorp Reports Net Income of $15.5 Million, $0.09 Per Share, and Cash Flow from Operations of $30.1 Million for Q1 Fiscal 2021

VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Silvercorp Metals Inc. (a??Silvercorpa?? or the a??Companya??) (TSX/NYSE American: SVM) reported its financial and operating results for the first quarter ended June 30, 2020 (a??Q1 Fiscal 2021a??). All amounts are expressed in US Dollars.Q1 FISCAL YEAR 2021 HIGHLIGHTS

Mined 254,555 tonnes of ore, down 1% compared to the prior year quarter;



Sold approximately 1.9 million ounces of silver, 1,100 ounces of gold, 20.9 million pounds of lead, and 7.0 million pounds of zinc, representing an increase of 1%, 10%, and 17% in silver, gold and lead sold, and a decrease of 5% in zinc sold, compared to the prior year quarter;



Revenue of $46.7 million, up 2% or $1.1 million compared to $45.6 million in the prior year quarter;



Net income attributable to equity shareholders of $15.5 million, or $0.09 per share, compared to $12.6 million or $0.07 per share in the prior year quarter;A



Cash cost per ounce of silver1, net of by-product credits, of negative $1.48, compared to negative $2.17 in the prior year quarter;AA



All-in sustaining cost per ounce of silver1, net of by-product credits, of $5.61, compared to $5.69 in the prior year quarter;



Cash flow from operations of $30.1 million, compared to $19.9 million in the prior year quarter;A



Gain of $16.4 million on equity investments;



Receipt of $6.5 million (CAD$9.0 million) break fee from Guyana Goldfields Inc.;



Paid dividends of $2.2 million, or $0.0125 per share, to equity shareholders;



Invested $5.8 million in New Pacific Metals Corp. (a??NUAGa??) to maintain the Companya??s ownership interest at 28.8%;



Strong balance sheet with $178.4 million in cash and cash equivalents and short-term investments, an increase of $35.9 million or 25% compared to March 31, 2020; and,



Investment in NUAG with market value of $178.2 million and other investments of $7.4 million.

1Alternative performance (non-IFRS) measure. Please refer to section 10 of the corresponding MD&A for reconciliation.FINANCIALSNet income attributable to equity shareholders of the Company in Q1 Fiscal 2021 was $15.5 million, or $0.09 per share, compared to $12.6 million, or $0.07 per share in the three months ended June 30, 2019 (a??Q1 Fiscal 2020a??).AA
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