Silvercorp Metals Inc. reported the results from its 2012 underground diamond drilling and tunneling exploration programs for the second half of 2012 at the TLP mine, Ying Mining District, Henan Province, China. Highlights of selected intercepts in drill holes: Hole ZKT0331 intercepted an interval of 1.91 metres (“m”), 1.28m true width of vein T33 grading 1,669 grams per tonne (“g/t”) silver (“Ag”), 0.82% lead (“Pb”) and 0.29% zinc (“Zn”) at the 877m elevation; and an interval of 1.11m, 0.74m true width of vein T33E grading 115 g/t Ag, 0.46% Pb and 0.03% Zn at the 771m elevation; Hole ZKT1731 intercepted an interval of 1.54m, 1.19m true width of vein T33E grading 1,016 g/t Ag, 5.48% Pb and 0.80% Zn at the 922m elevation; Hole ZKG0404 intercepted an interval of 3.58m, 2.57m true width of vein T16E grading 233 g/t Ag, 1.95% Pb and 0.60% Zn at the 838m elevation, including an interval of 0.90m, 0.65m true width grading 702 g/t Ag, 6.77% Pb and 1.94% Zn; and an interval of 1.67m, 1.22m true width of vein T11 grading 1,023 g/t Ag, 6.18% Pb and 0.96% Zn at the 553m elevation; Hole ZKG0621 intercepted four veins: an interval of 1.07m, 1.04m true width of vein T16E grading 669 g/t Ag, 0.97% Pb and 0.12% Zn at the 838m elevation, an interval of 1.13m, 1.10m true width of vein T16E2 grading 449 g/t Ag, 3.16% Pb and 0.30% Zn at the 806m elevation, an interval of 0.81m, 0.79m true width of vein T15W1 grading 221 g/t Ag, 0.98% Pb and 0.13% Zn at the 799m elevation, and an interval of 1.09m, 1.06m true width of vein T11 grading 320 g/t Ag, 0.93% Pb and 1.03% Zn at the 729m elevation; and Hole ZKG0622 intercepted three veins: an interval of 1.27m, 1.12m true width of vein T16E grading 909 g/t Ag, 5.35% Pb and 0.49% Zn at the 837m elevation, an interval of 1.59m, 1.26m true width of vein T15W1 grading 348 g/t Ag, 4.02% Pb and 0.19% Zn at the 770m elevation, and an interval of 1.52m, 1.35m true width of vein T15 grading 1,150 g/t Ag, 2.18% Pb and 0.10% Zn at the 717m elevation. The purpose of the 11,916m underground tunneling program in 2012 was to further delineate and upgrade the previous drill-defined resource blocks within major vein structures T1, T1W, T1W1, T1W3, T2, T3, T16, T16W, T22, T33 and T34 between the 510m and the 990m elevations. Drift and crosscut tunnels have been developed at 30m to 50m intervals. A total of 5,619 chip samples were collected. Mineralized zones were exposed in drift tunnels on different levels along the major vein structures. In 2013 Silvercorp has planned an exploration and resource development program at the TLP mine consisting of 9,790m of underground tunneling and 14,500m of underground drilling. The goals of the program are: infill drilling of previously defined resource blocks at shallower depths; exploration along.

Silvercorp Metals Inc. announced the production results for the second half of 2012. For the period, underground diamond drilling and tunneling exploration programs for the second half of 2012 at the TLP mine, Ying Mining District, Henan Province, China. Highlights of selected intercepts in drill holes: Hole ZKT0331 intercepted an interval of 1.91 metres, 1.28 metres true width of vein T33 grading 1,669 grams per tonne silver, 0.82% lead and 0.29% zinc at the 877 metres elevation; and an interval of 1.11 metres, 0.74 metres true width of vein T33E grading 115 g/t Ag, 0.46% Pb and 0.03% Zn at the 771 metres elevation; Hole ZKT1731 intercepted an interval of 1.54 metres, 1.19 metres true width of vein T33E grading 1,016 g/t Ag, 5.48% Pb and 0.80% Zn at the 922 metres elevation; Hole ZKG0404 intercepted an interval of 3.58 metres, 2.57 metres true width of vein T16E grading 233 g/t Ag, 1.95% Pb and 0.60% Zn at the 838 metres elevation, including an interval of 0.90 metres, 0.65 metres true width grading 702 g/t Ag, 6.77% Pb and 1.94% Zn; and an interval of 1.67 metres, 1.22 metres true width of vein T11 grading 1,023 g/t Ag, 6.18% Pb and 0.96% Zn at the 553 metres elevation; Hole ZKG0621 intercepted four veins: an interval of 1.07 metres, 1.04 metres true width of vein T16E grading 669 g/t Ag, 0.97% Pb and 0.12% Zn at the 838 metres elevation, an interval of 1.13 metres, 1.10 metres true width of vein T16E2 grading 449 g/t Ag, 3.16% Pb and 0.30% Zn at the 806 metres elevation, an interval of 0.81 metres, 0.79 metres true width of vein T15W1 grading 221 g/t Ag, 0.98% Pb and 0.13% Zn at the 799 metres elevation, and an interval of 1.09 metres, 1.06 metres true width of vein T11 grading 320 g/t Ag, 0.93% Pb and 1.03% Zn at the 729 metres elevation; and Hole ZKG0622 intercepted three veins: an interval of 1.27 metres, 1.12 metres true width of vein T16E grading 909 g/t Ag, 5.35% Pb and 0.49% Zn at the 837 metres elevation, an interval of 1.59 metres, 1.26m true width of vein T15W1 grading 348 g/t Ag, 4.02% Pb and 0.19% Zn at the 770m elevation, and an interval of 1.52 metres, 1.35 meters true width of vein T15 grading 1,150 g/t Ag, 2.18% Pb and 0.10% Zn at the 717 metres elevation.

The U.S. Securities and Exchange Commission is investigating Silvercorp Metals Inc. and has issued a subpoena to the mining firm requesting all documentation relating to the Vancouver company's long-running battle with short sellers. The SEC subpoena, includes a request for all documents in Silvercorp's possession connected to the allegations made by the websites alfredlittle.com, chinastockwatch.com and "Kun Huang," a researcher. Last year, a Globe investigation uncovered evidence and documents suggesting that Silvercorp and its executives appeared to be working in concert with local authorities and helping to pay for the Chinese police investigation against Mr. Huang and his associates. Legal experts, at the time, said Silvercorp's alleged actions might be in violation of both Chinese and Canadian law. The British Columbia Securities and Exchange Commission has initiated its own Silvercorp investigation, and the RCMP is also conducting inquiries. It is unclear if the SEC investigation's scope includes the possible corruption of Chinese police or any other conduct related to the company's battle against Mr. Huang and short sellers. While Silvercorp disagrees with the decision of Justice Edmead - that 'short and distort' publications are statements of opinion and not statements of purported fact. Silvercorp believes it is in the best interest of the company and its shareholders to end this potentially lengthy and expensive litigation.