Silvercorp Reports First Main Zone Drill Results From Kyzyltash Gold Project

• The first batch of 29 diamond drill holes spans the Main Zone from Line 1480 to Line 5120, confirming gold mineralisation across 3,640 metres of strike length.
• Hole DH26M687 returned 212.5 metres grading 1.68 g/t gold, extending beyond the two previously known gold structures and intersecting two additional parallel zones.
• Hole DH26M818, drilled 920 metres northeast of the discovery hole, intersected 47 metres at 3.95 g/t gold, including 4.5 metres at 13.65 g/t gold and 13.5 metres at 8.04 g/t gold.
• Assay results from the Contact Zone are pending, with six drill rigs active there and ten rigs currently testing the Main Zone.
• Since July 2026, drilling has shifted mainly to infill holes, aimed at converting inferred resources to the measured and indicated categories ahead of a planned Pre-Feasibility Study.

Silvercorp Metals Inc. (TSX/NYSE American: SVM) is a Canada-based mining company that produces silver, gold, lead and zinc, with a history of profitability and growth potential. The company's stated strategy centres on four areas: generating free cash flow from long life mines, organic growth through exploration drilling, mergers and acquisitions to unlock value, and a long term commitment to responsible mining and environmental, social and governance practices.

First Batch of Kyzyltash Main Zone Drill Results Confirming Multiple Parallel Gold Structures Over 3,640m Strike Length Including 212.5m at 1.68 g/t Au

Silvercorp has reported the first batch of drill results from the Kyzyltash Sulfide Gold Project in Kyrgyzstan, part of the Tulkubash and Kyzyltash gold complex. The work is carried out by ZAAV, a Kyrgyzstan-based subsidiary that is 70% owned by Silvercorp. In June 2026, ZAAV launched a drilling programme of 50,000 to 60,000 metres, covering both the Contact Zone and the Main Zone, with the goal of converting inferred resources into higher confidence categories and testing for new mineralisation.

This release covers 29 diamond drill holes positioned along the Main Zone between Line 1480 and Line 5120. Most of these early holes were step-out holes, drilled to test the boundaries between separate mineralised bodies and the eastern and western extensions of the zone. Hole DH26M687 returned the widest interval reported, a combined 212.5 metres grading 1.68 g/t gold, which included higher grade sections such as 29.5 metres at 3.26 g/t gold and 25.5 metres at 3.05 g/t gold.

Other notable results from this batch include hole DH26M818, which returned 47 metres at 3.95 g/t gold, including 4.5 metres at 13.65 g/t gold and 13.5 metres at 8.04 g/t gold, and hole DH26M686, which returned 39 metres at 4.79 g/t gold, including 6 metres at 22.23 g/t gold. Gold grade is measured in grams per tonne (g/t), representing the amount of gold contained in each tonne of rock mined.

New Subparallel Mineralized Structures Identified Beyond Previously Defined Gold Zones Expanding Resource Potential

Hole DH26M687 was drilled perpendicular to the trend of the Main Zone and passed through two gold structures already included in the existing resource model before continuing into two further parallel structures that had not previously been defined. Structure three returned 25.5 metres at 3.05 g/t gold, and structure four returned 33.0 metres at 2.51 g/t gold.

Hole DH26M818, drilled approximately 920 metres northeast of DH26M687 in the central part of the Main Zone, also intersected three parallel gold structures over a combined 47 metres grading 3.95 g/t gold. Within this interval, the richest section returned 4.5 metres at 13.65 g/t gold, alongside a further 13.5 metres at 8.04 g/t gold.

The mineralisation at Kyzyltash is hosted within shear zones linked to the Sandalash Fault Zone. According to the release, the Main Zone and the newly identified structures remain open at depth and along strike beyond the 3,640 metres tested in this batch.

Drilling Strategy Shifted to Infill Focus Supporting Pre-Feasibility Study Resource Upgrade

Since July 2026, Silvercorp has shifted the drilling programme to focus mainly on infill holes, supplemented by step-out holes drilled in the down-dip direction. Infill drilling adds holes between existing drill locations to increase the density of data in a given area, which supports upgrading resource confidence.

This shift supports the company's goal of converting resources into the measured and indicated categories ahead of a planned Pre-Feasibility Study. As of October 15, 2025, the combined Tulkubash and Kyzyltash Chaarat gold project held 3.94 million ounces of gold at 2.44 g/t in the measured and indicated categories, and 1.58 million ounces at 2.30 g/t in the inferred category.

A Pre-Feasibility Study is an engineering and economic assessment used to evaluate whether a project is viable to develop. Under NI 43-101 standards, inferred resources generally cannot be used as the basis for such a study, which is why infill drilling to raise resource confidence is a required step before the study can proceed.

Milestones and Next Steps

Assay results from the Contact Zone, where six drill rigs remain active, have not yet been released and are expected in a future update. Drilling continues across both zones with sixteen rigs in total as part of the 50,000 to 60,000 metre programme, with further Main Zone results and progress toward the planned Pre-Feasibility Study to follow.

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