Silvercorp Announces Main Zone Drill Results, Including 1.68 g/t Gold over 212.5 Metres, at the Kyzyltash Sulfide Gold Project, Kyrgyzstan

Silvercorp Metals Inc. (SVM) has released the initial batch of assay results from the Main Zone at its Kyzyltash Sulfide Gold Project in Kyrgyzstan. The data covers 29 diamond drill holes spanning a 3,640-meter strike length, extending from Line 1480 to Line 5120.

Since July 2026, drilling efforts have been re-focused primarily on infill drilling to upgrade Inferred resources to Measured and Indicated categories in preparation for a Pre-Feasibility Study, with some down-dip step-out holes also continuing. Assay results for the Contact Zone remain pending, with six rigs currently active.

Key reported intercepts, as core lengths, include:

• DH26M687: 212.5 m at 1.68 g/t Au from 34.5 to 247.0 m, including four structures.
• DH26M686: 39.0 m at 4.79 g/t Au, including 6.0 m at 22.23 g/t Au.
• DH26M818: 47.0 m at 3.95 g/t Au, including 4.5 m at 13.65 g/t Au and 13.5 m at 8.04 g/t Au.
• DH26M705: 12.0 m at 4.90 g/t Au, including 4.5 m at 12.16 g/t Au.
• DH26M703: 4.5 m at 18.77 g/t Au.
• DH26M699: 37.5 m at 3.94 g/t Au at the far northeast end of the tested strike.

The release states the zone remains open at depth and along strike over 3,640 m.

Silvercorp Metals Inc. (SVM) released drill results from the Kyzyltash deposit, marking a drill-result release rather than an earnings report or resource update. The company’s existing context at Kyzyltash includes 3.94 million ounces of gold at 2.44 g/t Au in Measured and Indicated resources, plus 1.58 million ounces at 2.30 g/t Au in Inferred resources. The 29 holes reported are mostly infill and step-out drilling around a known Main Zone, rather than a grassroots discovery.

The results confirm broad gold mineralization over 3,640 m of strike, identify additional parallel structures, and return multiple intervals above the existing 2.44 g/t Au resource grade. These findings are supported by credible QA/QC and full reporting. However, the results are not currently a material NAV-changing event for a company with a roughly USD 3.69 billion market capitalization.

The market has already re-rated Silvercorp substantially over the past year, from about USD 6 to USD 21.52 at the May 2026 high, before pulling back to USD 16.67. Much of that move reflects silver prices, earnings, and the broader project portfolio rather than an embedded expectation for this specific first batch of Main Zone assays. Against the appropriate anchor, the Kyzyltash M&I resource grade of 2.44 g/t Au, these results are broadly confirmatory to mildly positive.

Silvercorp Metals Inc. (SVM) is a Canadian precious metals producer operating silver-lead-zinc mines in China. Its principal operating assets include the Ying Mining District in Henan and the GC Mine in Guangdong. The company also holds development and exploration assets, including the El Domo copper-gold project in Ecuador, which is under construction with target production scheduled for July 2027; the Tulkubash oxide gold project in Kyrgyzstan; the Kyzyltash sulfide gold project in Kyrgyzstan, the subject of this release; the Condor gold-silver project in Ecuador; and the Kuanping project in China.

Existing resources at Kyzyltash include 3.94 moz of gold at 2.44 g/t Au in the Measured and Indicated category, plus 1.58 moz of gold at 2.30 g/t Au in the Inferred category.

In the period to June 30, 2026, Silvercorp reported revenue of USD 138.7 million, gross profit of USD 84.8 million, and net income of USD 74.0 million. Operating cash flow was USD 61.7 million, with cash on hand of USD 386.8 million and total debt of USD 117.4 million. These financials provide prior-period context and are not part of today’s drill release.