Silvercorp Metals Inc. reported assay results from its 2020 exploration program at the HPG mine, Ying Mining District, Henan Province, China. In total, 13,515 metres (“m”) from 150 diamond drill holes, including 129 underground holes and 21 surface holes, have been completed from July 1, 2019 to October 31, 2020. Assay results for 140 holes have been received, with 69 holes intercepting mineralization. Nine rigs have been drilling at the HPG mine since July 2020. In addition to infill drill holes targeting areas of known sub-vertical silver-lead-zinc-gold veins previously believed to be uneconomic, the program discovered vein structures with relatively high gold, low silver-lead-zinc grade mineralization, such as: Hole ZK0912 intercepted a new vein with a 1.03 m interval grading 4.82 grams per tonne (“g/t”) gold (“Au”), 44 g/t silver (“Ag”) and low lead (“Pb”) and zinc (“Zn”). Hole ZK1733 intercepted vein H11E with a 0.98 m interval grading 3.64 g/t Au and low Ag, Pb and Zn. Hole ZK1920 intercepted vein H13 with a 3.88 m interval grading 3.18 g/t Au, 52 g/t Ag and low Pb and Zn. Hole ZK2723 intercepted vein H10_1 with a 1.05 m interval grading 6.41 g/t Au and low Ag, Pb and Zn. The drill hole and tunnel results have shown that mineralization at the HPG mine developed in at least two phases, an earlier phase of gold-bearing structures and later stage silver-lead-zinc mineralization. In many cases, the silver-lead-zinc mineralization has overprinted the earlier gold-bearing structures, while there are still some gold-bearing structures that have not been overprinted and were overlooked before. Future exploration will investigate such structures with less obvious silver-lead-zinc mineralization overprinting. Highlights of selected drill hole intercepts (please see Table 1 for details): Surface Hole ZK2537 intersected three zones: 2.01 m interval (vein H16_1) from 244.06 m, grading 3.01 g/t Au, 20 g/t Ag, 0.5% Pb and 1.14% Zn; 0.81 m interval (vein H15) from 319.52 m, grading 5.18 g/t Au, 16 g/t Ag, 0.28% Pb and 0.16% Zn; and 13.13 m interval (vein H40E, confirmed by an underground tunnel to have a true width of 4.38 m) from 372.70 m, grading 2.84 g/t Au, 259 g/t Ag, 12.22% Pb and 1.06% Zn, including 1.58 m from 374.44 m, grading 17.08 g/t Au, 301 g/t Ag, 18.66% Pb, and 0.62% Zn; Surface Hole ZK3812 intersected a 0.96 m interval (vein H17) from 182.14 m grading 4.71 g/t Au, 1,261 g/t Ag, 1.27% Pb, and 0.07% Zn; Surface Hole ZK4610 intersected a 0.85 m interval (vein H15) from 251.77 m, grading 1.13 g/t Au, 274 g/t Ag, 30.82% Pb, 0.02% Zn, including a 0.50 m interval from 251.77 m, grading 462 g/t Ag, 51.90% Pb, 0.02% Zn, 1.85 g/t Au and 1.20% Cu; Surface Hole ZK2342 intersected a 2.09 m interval (vein H16) from 291.69 m, grading 8.93 g/t Au, 24 g/t Ag, 0.54% Pb, and 1.15% Zn, including a 1.15 m interval from 291.69 m grading 15.7 g/t Au, 43 g/t Ag, 0.94% Pb, and 2.07% Zn; Surface Hole ZK1958 intersected three zones: 2.00 m interval (vein H14) from 32.06 m, grading 2.17 g/t Au, 59 g/t Ag, 3.52% Pb, and 3.16% Zn; 2.10 m interval (vein H16) from 40.08 m, grading 1.48 g/t Au, 68 g/t Ag, 8.93% Pb, and 2.84% Zn; and 1.26 m interval (vein H16_3) from 66.46 m, grading 0.83 g/t Au, 98 g/t Ag, 12.26% Pb, and 14.20% Zn.