Silvercorp Reports Solid Q1 Growth with Higher Silver Output and Revenue Gains

• Revenue increased substantially to approximately $81.3 million for the first quarter, potentially reflecting improved operational performance 
• Silver production seems to have risen with total silver equivalent output reaching 2.0 million ounces 
• Lead production maintained steady growth, suggesting continued operational strength 
• El Domo mine construction advanced with substantial material movement, while Kuanping mine development may have begun operations 
• Comprehensive drilling programme across all operations enhanced future resource planning

Silvercorp Metals Inc. (TSX: SVM, NYSE American: SVM) is a Canadian precious metals mining company with primary focus on silver, but with significant gold, lead and zinc production as well. The company maintains a diversified portfolio of mining assets, including the Ying Mining District and GC Mine, whilst developing additional projects to expand production capacity.

The company's strategic approach emphasises operational efficiency combined with sustained exploration and development activities. Through methodical resource development and strategic mine planning, Silvercorp is focused on building its production foundation whilst extending mine lifecycles across its asset portfolio.

Production Performance

Ying Mining District Operations

The Ying Mining District delivered strong operational results during the first quarter, processing significantly more ore than the previous year. This enhancement in processing capacity contributed meaningfully to overall production improvements across multiple metal categories, demonstrating the district's operational flexibility and efficiency gains.

Silver production at Ying increased compared to the prior year quarter, contributing to the company's overall growth in silver output. The district achieved substantial gold production growth, while lead output improved steadily. These production gains reflect effective mine planning and operational execution across the district's various mining areas.

The district's commitment to future production sustainability was evident through extensive exploration activities. Substantial drilling and exploration tunnelling were completed, supporting ongoing resource definition and mine planning activities. This exploration investment demonstrates management's focus on maintaining and expanding the resource base for continued growth.

GC Mine and Development Projects

The GC Mine processed a considerable volume of ore during the quarter, with silver production contributing to overall company output. The facility maintained its focus on exploration and development activities, completing substantial drilling and exploration tunnelling programmes that enhance future production planning.

El Domo mine construction progressed steadily during the quarter, with significant material movement as part of the development programme. This advancement confirms the project remains on schedule and represents an important future production contributor. The scale of material movement indicates substantial progress in establishing the mine's infrastructure and access systems.

The Kuanping mine marked a significant milestone with the commencement of construction activities, completing initial ramp development and exploration tunnelling. These development projects represent important growth drivers for Silvercorp, contributing to increased production capacity and extended mine lifecycles across the company's asset portfolio.

Financial and Operational Analysis

The company's revenue performance during the first quarter demonstrates resilience and growth potential within the current market environment. The revenue increase reflects both improved production volumes and favourable market conditions for the metals produced.

The revenue increase, combined with improved silver production and ongoing development activities, demonstrates successful execution of operational strategies across the company's mining portfolio. The diversified production profile, including silver, lead, and zinc, provides natural protection against individual metal price volatility whilst positioning the company to benefit from strength across multiple commodity markets.

The extensive exploration programme across all operations demonstrates management's confidence in the long-term potential of existing assets. This investment in exploration and development activities indicates a strategic approach to maintaining and expanding the company's resource base, which will enhance future production sustainability and growth prospects.

Conclusion and Forward Outlook

Silvercorp's first quarter fiscal 2026 results demonstrate continued operational progress and revenue growth trajectory. The revenue increase, combined with improved silver production and ongoing development activities, indicates successful execution of operational strategies across the company's mining portfolio.

Key milestones achieved during the quarter include the commencement of Kuanping mine construction, steady progress at El Domo development, and enhanced processing capacity at the Ying Mining District. The extensive exploration programme will enhance future resource development and production sustainability, indicating management's commitment to long-term value creation. Investors can expect the release of complete financial results on August 7, 2025, which should provide detailed insights into profitability, cash flow, and overall financial position.

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