Silvercorp Reports Underground Exploration Results at the LM Mine, Ying Mining District, China

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2013) - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM)(NYSE:SVM) is pleased to report the results for its underground tunneling exploration program for 2012 and diamond drilling exploration program for the second half of 2012 at the LM mine, Ying Mining District, Henan Province, China.

These new results demonstrate good downdip and along strike consistency in relation to existing production veins as well as the potential to expand the current reserves and resources when they are incorporated into the next reserves and resources update for the Ying Mining District. Furthermore, the major vein structures are still open along strike and downdip.

The purpose of the exploration program was to upgrade existing drill-defined resource blocks along mineralized vein structures below the current mining depth, extend known mineralized zones and explore for new zones at or above the current mining depth and along strike of major production veins. The 4,000 metre ("m") underground drifting program has successfully extended the strike lengths of known mineralized zones between the 850m and the 600m elevations within major production vein LM5. Over 5,000m of diamond drilling in 23 holes was completed in the second half of 2012 and 14 of the 23 holes intersected high-grade mineralization which resulted in the identification of new zones of mineralization in the upper portions of current major production veins.

Highlights of selected mineralized zones exposed in underground tunnels:

• Drift PD900-LM5-750-54NYM&SYM along vein LM5 on the 750m level revealed a zone of 147m in length, 0.84m true width, grading 858 grams per tonne ("g/t") silver ("Ag"), 2.11% lead ("Pb"), and 0.43% zinc ("Zn");
  
  
• Drift PD900-LM5-700-54NYM&SYM along vein LM5 on the 700m level revealed a zone of 135m in length, 0.84m true width, grading 810g/t Ag, 1.87% Pb and 0.50% Zn; and
  
  
• Drift PD838-LM5-775-52SYM&NYM along vein LM5 on the 775m level revealed a zone of 180m in length, 0.93m true width, grading 490g/t Ag, 1.88% Pb and 0.64% Zn.
  

Highlights of selected intersections of drill holes:

• Hole ZKL1002 intercepted 1.44m, 1.35m true width of vein LM1 grading 1,872g/t Ag, 3.56% Pb and 0.41% Zn at the 690m elevation;
  
  
• Hole ZKL51S32 intercepted 1.81m, 0.68m true width of vein LM5 grading 2,649g/t Ag, 1.88% Pb and 0.63% Zn at the 726m elevation; and
  
  
• Hole ZKL51S02 intercepted 1.32m, 0.50m true width of vein LM5 grading 1,329g/t Ag, 0.36% Pb and 0.13% Zn at the 719m elevation.
  

In 2013, the Company continues to focus on upgrading and expanding resource blocks along major mineralized vein structures LM2, LM3, LM5 and LM6 using existing underground mining infrastructure to access these veins. A comprehensive program including 5,100m of underground tunneling and 24,100m of diamond drilling is underway.

Tables 1 and 2 below list the assay results of some selected mineralized zones exposed in tunnels and intercepts in drill holes.

Table 1: Selected tunneling results from the LM Mine in 2012

								Weighted Average
Tunnel ID		Level (m)		Mineralized Vein		Length of Mineralized Zone (m)		True Width (m)		Ag (g/t)		Pb (%)		Zn (%)
PD838_LM5_852_51SYM		852		LM5		90		0.47		295		1.93		0.37
PD838_LM5_775_52SYM&NYM		775		LM5		180		0.93		490		1.88		0.64
PD900_LM5_750_51YM&SYM		750		LM5		35		0.52		394		2.67		0.41
PD900_LM5_750_51(S30)SYM		750		LM5		40		1.17		1,006		2.77		0.49
PD900_LM5_750_54NYM&SYM		750		LM5		147		0.84		858		2.11		0.43
PD900_LM5_700_54NYM&SYM		700		LM5		135		0.84		810		1.87		0.50
PD900_LM5_650_54NYM&SYM		650		LM5		90		0.71		285		1.01		0.31
PD900_LM5_650_51(S43)SYM		650		LM5		60		0.82		286		2.69		0.24
PD838_LM3-Branch_790_0NYM		790		LM3_1		32		0.45		266		0.45		0.12
PD900-600-LM5-50SYM&NYM		600		LM5		40		1.12		475		2.18		0.24

Table 2: Selected drilling results from the LM Mine for the second half of 2012

Hole ID	From (m)	To (m)		Elevation (m)	Interval (m)		True Width (m)	Ag (g/t)	Pb (%)	Zn (%)		Mineralized Vein
ZKL6602	223.91	224.31		702	0.40		0.38	795	1.19	0.28		LM6
	358.03	360.13		620	2.10		1.99	51	2.07	0.18		LM5
ZKL1002	239.72	241.16		690	1.44		1.35	1,821	3.45	0.41		LM1
ZKL53S01	88.9	92.06		783	3.16		1.20	401	0.44	0.23		LM6
	160.11	161.69		731	1.58		0.60	550	1.40	0.56		LM5
ZKL51S32	169.97	171.78		726	1.81		0.68	2,649	1.88	0.62		LM5
ZKL51S02	170.75	172.07		720	1.32		0.50	1,329	0.36	0.13		LM5
ZKL54S01	99.58	101.18		808	1.60		1.22	112	0.57	0.14		LM6
ZKL56S31	84.56	85.81		811	1.25		0.97	470	0.23	0.08		LM6
	143.79	146.03		792	2.34		1.81	146	0.84	0.27		LM5

Quality Control

Drill cores are NQ size. Drill core samples, limited by apparent mineralization contact or shear/alteration contact, were split into halves by saw cutting. The half cores are stored in the Company's core shacks for future reference and checking, and the other half of the core samples are shipped in security sealed bags to the Chengde Huakan 514 Geology and Minerals Testing and Research Institute, an ISO9000 certified analytical lab in Chengde, China, 226 km northeast of Beijing. For analysis the sample is dried and crushed to minus 1mm and then split to a 200-300g subsample which is further pulverized to minus 200 mesh. Two subsamples are prepared from the pulverized sample. One is digested with aqua regia for gold analysis with AAS, and the other is digested with two-acids for analysis of silver, lead, zinc and copper.

Chip samples are collected along sample lines perpendicular to the mineralized vein structure in exploration tunnels. Spacing between sampling lines is typically 5m along strike. Both the mineralized vein and the altered wall rocks are cut with continuous chisel chipping. Sample length ranges from 0.2m to more than 1m, depending on the width of the mineralized vein and the mineralization type.

A routine quality assurance/quality control procedure is adopted at each lab to monitor the analytical quality at the lab. Certified reference materials (CRM), pulp duplicates and blanks are inserted into each lab batch of samples. QA/QC data at the lab are attached to the assay certificates for each batch of samples.

The Company maintains its own comprehensive quality assurance and quality control program to ensure best practice in sample preparation and analysis of the drill core samples. Project geologists regularly insert CRM, field duplicates and blanks to each batch of core samples to monitor the sample preparation and analysis procedures at the labs. The analytical quality of the labs is further evaluated with external checks by sending about 3% of the pulp samples to higher level labs to check for lab bias.

Data from both the Company's and the labs' QA/QC programs are reviewed on a timely basis by project geologists.

Rujin Jiang, P. Geo., is the Qualified Person on the project as defined under National Instrument 43-101. He has verified the information and has reviewed and approved the contents of this news release.

About Silvercorp

Silvercorp is a low-cost silver-producing Canadian mining company with multiple mines in China which has paid a cash dividend since 2007. The Company is currently developing the GC project in southern China which it expects will become its next operating mine in 2013. The Company's vision is to deliver shareholder value by focusing on the acquisition of under developed projects with resource potential and the ability to grow organically. For more information, please visit our website at www.silvercorp.ca.

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