<SEC-DOCUMENT>0001279569-24-000469.txt : 20240426
<SEC-HEADER>0001279569-24-000469.hdr.sgml : 20240426
<ACCEPTANCE-DATETIME>20240426122220
ACCESSION NUMBER:		0001279569-24-000469
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20240426
FILED AS OF DATE:		20240426
DATE AS OF CHANGE:		20240426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SILVERCORP METALS INC
		CENTRAL INDEX KEY:			0001340677
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34184
		FILM NUMBER:		24880780

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1750
		STREET 2:		1066 W. HASTINGS STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 3X1
		BUSINESS PHONE:		6046699397

	MAIL ADDRESS:	
		STREET 1:		SUITE 1750
		STREET 2:		1066 W. HASTINGS STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 3X1
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>silvercorp6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><FONT STYLE="font-size: 13.5pt"><B>UNITED
STATES</B></FONT><FONT STYLE="font-size: 10pt"><BR>
</FONT><FONT STYLE="font-size: 13.5pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><FONT STYLE="font-size: 10pt"><BR>
<B>Washington, D.C. 20549</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>FORM 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>REPORT OF FOREIGN PRIVATE
ISSUER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>PURSUANT TO RULE 13a-16 OR
15d-16 OF<BR>
THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">April 26, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">Commission File No. 0001-34184</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><FONT STYLE="font-size: 24pt"><B><U>SILVERCORP
METALS INC.<BR>
</U></B></FONT><FONT STYLE="font-size: 10pt">(Translation of registrant&rsquo;s name into English)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0"><B>Suite 1750 - 1066 West Hastings
Street<BR>
<U>Vancouver, BC Canada V6E 3X1<BR>
</U></B>(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">[Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">Form 20-F [&nbsp;&nbsp; ] Form
40-F [ X ]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</P>

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    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt"><FONT STYLE="font-size: 10pt">Dated:
    April 26, 2024</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt"><FONT STYLE="font-size: 10pt"><B>SILVERCORP METALS INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding: 0.75pt">&nbsp;</TD></TR>
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    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 0.75pt 0.75pt 24.45pt"><FONT STYLE="font-size: 10pt"><U>/s/ Derek Liu</U></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 0.75pt 0.75pt 24.45pt"><FONT STYLE="font-size: 10pt">Derek Liu</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 0.75pt 0.75pt 24.45pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-left: 0">EXHIBIT INDEX</P>

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    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt"><FONT STYLE="font-size: 10pt"><U>EXHIBIT</U></FONT></TD>
    <TD STYLE="white-space: nowrap; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt; text-align: center"><FONT STYLE="font-size: 10pt"><U>DESCRIPTION OF EXHIBIT</U></FONT></TD></TR>
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    <TD STYLE="white-space: nowrap; vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt"><FONT STYLE="font-size: 10pt"><A HREF="ex991.htm">99.1</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt"><FONT STYLE="font-size: 10pt"><A HREF="ex991.htm">News
Release - April 26, 2024 - SILVERCORP TO ACQUIRE ADVENTUS, CREATING A GEOGRAPHICALLY DIVERSIFIED MINING COMPANY BY ADDING THE ADVANCED EL DOMO PROJECT</A></FONT></TD></TR>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED APRIL 26, 2024
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<P STYLE="text-align: right; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><IMG SRC="logo.jpg" ALT="" STYLE="width: 265px; height: 117px">&nbsp;</P>

<P STYLE="font: bold 24pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">SILVERCORP TO ACQUIRE ADVENTUS, CREATING A GEOGRAPHICALLY
DIVERSIFIED MINING COMPANY BY ADDING THE ADVANCED EL DOMO PROJECT</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Trading&nbsp;Symbols: </B>&nbsp;<B>TSX/NYSE&nbsp;AMERICAN:&nbsp;SVM
&nbsp; &nbsp;&nbsp;<BR>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; TSXV: ADZN / OTCQX: ADVZF</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">VANCOUVER, BC and TORONTO, April 26, 2024 /CNW/ -&nbsp;<B>Silvercorp
Metals Inc. </B>(&quot;Silvercorp&quot;) (TSX: SVM) (NYSE American: SVM) and <B>Adventus Mining Corporation </B>(&quot;Adventus&quot;)
(TSXV: ADZN) (OTCQX: ADVZF) are pleased to announce that the parties have entered into a definitive arrangement agreement (the &quot;Arrangement
Agreement&quot;) pursuant to which Silvercorp has agreed to acquire all of the issued and outstanding common shares of Adventus (the &quot;Transaction&quot;)
by way of a plan of arrangement (the &quot;Arrangement&quot;).</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Under the terms of the Arrangement Agreement, each
holder of the common shares of Adventus (each, an &quot;Adventus Share&quot;) will receive 0.1015 of one Silvercorp common share (each,
a &quot;Silvercorp Share&quot;) in exchange for each Adventus Share (the &quot;Exchange Ratio&quot;) at the effective time of the Transaction.
The Exchange Ratio implies consideration of C$0.50 per Adventus Share based on the 20-day volume-weighted average prices (&quot;VWAP&quot;)
of Silvercorp Shares on the Toronto Stock Exchange (the &quot;TSX&quot;) on April 25, 2024. This represents a premium of 31% based on
the 20-day VWAP of Silvercorp on the TSX and Adventus on the TSX Venture Exchange (the &quot;TSXV&quot;), both as at April 25, 2024. The
implied equity value of the Transaction is approximately C$200 million on a fully-diluted in-the-money basis. At closing, existing Silvercorp
and Adventus shareholders will own approximately 81.6% and 18.4%, respectively, of Silvercorp shares outstanding on a fully-diluted in-the-money
basis.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Strategic Rationale for&nbsp;Silvercorp</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Provides immediate asset, geographic and metal diversification</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Pro forma asset portfolio consists of exposure to China and
Ecuador, increased gold exposure, as well as metals (silver, copper, lead and zinc) that are key for a low-carbon future</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Addition of the high margin, advanced El&nbsp;Domo project
should significantly enhance Silvercorp's near-term production profile</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Investment Protection Agreement for the project in place
with the Government of Ecuador</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Key permits secured, including the Environmental License
and tailings storage approval</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Existing US$175.5 million stream with Wheaton Precious Metals
International Ltd. (&quot;Wheaton&quot;), combined with&nbsp;Silvercorp's existing cash and cash equivalents of approximately US$200 million
is more than sufficient to fully fund El Domo through construction</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Silvercorp has the technical capabilities to bring El Domo
into production on an accelerated basis, having built eight mines in its current operations, along with three flotation mills of similar
size to El Domo (with a new 1,500 tpd flotation mill under construction at Ying), and three tailings storage facilities</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Transaction is accretive on a net asset value per share,
as well as on a Mineral Reserves and Mineral Resources basis</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Adventus' PEA stage Condor asset provides further optionality
and upside, including:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">2021 PEA for Condor North highlighted a 12-year mine life
with average annual payable production of 187 thousand oz of gold and 758 thousand oz of silver at a by-product&nbsp;AISC of US$839/oz
over the life of the mine</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Indicated Mineral Resources containing 2.3 million oz of
gold and 12.8 million oz of silver and Inferred Mineral Resources containing 4.3 million oz of gold and 18.1 million oz of silver</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Re-rating opportunity resulting from increased scale, significantly
enhanced growth profile and establishing a presence in an emerging, mining-friendly jurisdiction</FONT></TD></TR></TABLE>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Silvercorp&nbsp;Chairman and&nbsp;CEO,&nbsp;Dr.&nbsp;Rui&nbsp;Feng,&nbsp;said:</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;This transaction will create a new globally
diversified green metals producer. It presents the opportunity for us to leverage our technical expertise and strong balance sheet to
unlock value for all shareholders by constructing the El Domo project. We look forward to working with the Government of Ecuador and local
communities, as well as leveraging the existing Adventus and Curimining teams, to grow our business in Ecuador which will generate sustainable
economic, social, and environmental value for all stakeholders.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">We would also like to acknowledge the hard work and
contributions to the El Domo project by our future partners at Salazar Resources. Silvercorp will continue to work collaboratively with
Salazar as El Domo is advanced into construction and ultimately operations.&quot; &nbsp;</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Benefits for&nbsp;Adventus&nbsp;Shareholders</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Immediate and significant premium to Adventus shareholders
of 31% on a 20-day VWAP basis</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Exposure to Silvercorp's high quality and profitable silver
mines, strong balance sheet and track record of returning capital to shareholders, while retaining participation in future upside from
El Domo, Condor and Adventus' exploration portfolio</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">De-risks development of El Domo by leveraging Silvercorp's
technical capabilities and financial strength, its history of successful project construction, and its in-depth access to equipment supply
chains that could result in cost savings for El Domo construction</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Potential for a further premium through a re-rating of Silvercorp
shares as El Domo is advanced to production</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Option to realize cash proceeds given trading liquidity of
Silvercorp shares (~US$8 million per day on the TSX and NYSE American)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Continued commitment to best in class ESG practices by Silvercorp,
which has an ESG rating of A from MCSI as well as EMS ISO 14001 and ISO 45001 certifications across its operations</FONT></TD></TR></TABLE>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Adventus&nbsp;President, CEO and Director,&nbsp;Christian
Kargl-Simard,&nbsp;said:</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&quot;I am very proud of the accomplishments of our
entire Adventus team,&nbsp;together with Salazar Resources and other partners since 2017, highlighted by the advancement of El Domo from
an inferred resource to the construction ready project that it is today&nbsp;and the consolidation of our significant exploration portfolio
in Ecuador.&nbsp;Our commitment&nbsp;to,&nbsp;and public record of transparency, technical excellence, environmental stewardship, and
the highest standards of social responsibility have been the backbone of our success. I believe that Silvercorp strongly shares our values,
in addition to bringing&nbsp;financial strength and experience from global operations. Combining the companies positions us well to deliver
on El Domo and our other projects in collaboration with the government, local communities, and all stakeholders.&quot;</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>About the El&nbsp;Domo Project</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The advanced high-grade copper-gold El Domo project,
75% owned by Adventus, covers approximately 172 ha with a buffer of 118 ha (2.9 km<SUP>2</SUP> in total). El Domo is located in central
Ecuador, approximately 150 km northeast of the major port city of Guayaquil - about a 3-hour drive. The project spans low-lying hills
and plains between 300 to 900 m above sea level.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">In 2017, Adventus entered into an agreement with Salazar
Resources Ltd. (&quot;Salazar&quot;) pursuant to which Adventus earned its majority interest in the Curipamba project by funding exploration
and development expenditures of US$25 million over five years and meeting certain development obligations. In 2021, Adventus announced
it had completed its earn-in option to obtain majority ownership (75%) of the Curipamba project. Adventus will fund capital costs to production
and receive 95% of the free cash flows until all of its investments since 2017 are repaid, after which the project cash flows will be
shared 75% to Adventus and 25% to Salazar.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">In December 2021, Adventus published a feasibility
study covering the open-pit Mineral Reserve of the El Domo - Curipamba project, outlining attractive operating metrics and robust economics:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Proven and Probable Mineral Reserves of 6.5 million tonnes
at 1.93% Cu, 2.52 g/t Au, 2.49% Zn, 45.7 g/t Ag, 0.25% Pb</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">A 10-year mine life with average annual production of 10,463
tpa copper and 21,390 tpa copper equivalent over the life-of-mine</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Production C1 cash cost of US$1.14/lb and AISC of US$1.26/lb
copper equivalent</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Initial capital cost (including refundable VAT) of US$248
million with a payback period of 2.6 years, after-tax IRR of 32% and NPV<SUB>8%</SUB> of US$259 million, utilizing US$3.50/lb Cu, US$1,700/oz
Au, US$1.20/lb Zn, US$23.00/oz Ag and US$0.95/lb Pb</FONT></TD></TR></TABLE>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Concurrent Private Placement</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Concurrent with entering into the Arrangement Agreement,
Silvercorp and Adventus entered into an investment agreement pursuant to which Silvercorp will subscribe for 67,441,217 Adventus Shares
at an issue price of C$0.38 per share, or C$25,627,662 in the aggregate (the &quot;Placement&quot;). Upon completion of the Placement,
Silvercorp will hold approximately 15% of the total issued and outstanding shares of Adventus.&nbsp;Proceeds from the Placement will be
used to (i) repay the amounts outstanding under a credit facility with Trafigura Pte Ltd. (the &quot;<B>Trafigura Facility</B>&quot;)
in the amount of approximately C$9.9 million, which includes penalties payable for the early repayment under the facility, (ii) fund the
settlement of the outstanding amounts payable pursuant to a convertible loan agreement (the &quot;<B>Altius Loan</B>&quot;) between Adventus
and Altius Resources Inc. (&quot;<B>Altius</B>&quot;) in the amount of approximately C$9.6 million, (iii) fund normal course activities
at the El Domo project in the amount of approximately C$2.7 million, and (iv) fund general working capital expenses in the amount of C$3.4
million, which expenses are expected to include funding of early development expenditures to advance construction of the El Domo project
and fund general and administrative expenses between announcement and closing of the Transaction.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The funding of the above listed expenses through the
Placement was a critical factor in Silvercorp determining to proceed with the Transaction, as the majority of the expenses must be paid
prior to the closing of the Transaction and Adventus does not have sufficient cash on hand to fund these costs. Silvercorp has requested
the repayment of the Altius Loan as under the terms of this loan, Altius has the right to increase its royalty on the El Domo project.
It is Silvercorp's view that if this royalty right was exercised, it would have a negative impact on the project economics. Silvercorp
has also requested the repayment of the Trafigura Facility,&nbsp;which matures on June 30, prior to the closing of the Transaction. The
remaining use of proceeds as set out above, are being directed towards general, administrative, project maintenance and project advancement
expenditures, which expenditures will allow Adventus to keep the projects in good standing and continue or commence project development
activities. Silvercorp views the funding of these expenses to be essential in terms of maintaining the goodwill of the Company within
the local community and the various levels of government.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The completion of the Placement has been conditionally
approved by the TSXV and remains subject to final acceptance by the TSXV on behalf of Adventus for the listing of the Adventus Shares
to be issued to Silvercorp. The Adventus Shares to be issued to Silvercorp will be subject to a statutory four-month hold period under
applicable securities laws. Completion of the Placement and the repayment of indebtedness does not provide a guarantee that the Transaction
will be completed.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Transaction Summary</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Under the terms of the Transaction, Silvercorp will
acquire all the issued and outstanding Adventus Shares (other than Adventus Shares owned by Silvercorp at the effective time of the Transaction)
and Adventus shareholders will receive 0.1015 Silvercorp Shares for each existing Adventus Share held. All outstanding Adventus stock
options and warrants will become exercisable for Silvercorp Shares, with the number of Silvercorp Shares issuable on exercise and the
exercise price adjusted in accordance with the Exchange Ratio. All outstanding Adventus restricted share units will immediately vest upon
closing of the Transaction and be settled in cash, funded by Silvercorp through Adventus.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Transaction will be carried out by way of a court-approved
Arrangement under the Canada Business Corporations Act and a resolution to approve the Transaction will be submitted to Adventus shareholders
and holders of Adventus stock options and restricted share units at a special meeting of securityholders expected to be held on or about
June 28, 2024 (the &quot;<B>Special Meeting</B>&quot;). The Transaction will require approval by (i) 66 2/3% of the votes cast by Adventus
shareholders and holders of options and restricted share units voting as a single class, and (ii) a simple majority that excludes those
not entitled to vote in accordance with Multilateral Instrument 61-101 - <I>Protection of Minority Security Holders in Special Transactions</I>.
Each of the directors and senior officers of Adventus, Mr. Ross Beaty and Wheaton Precious Metals Corp., representing in aggregate approximately
23% of the issued and outstanding Adventus Shares, have entered into voting support agreements with Silvercorp and have agreed to vote
in favour of the Transaction at the Special Meeting in accordance with those agreements. In addition, Salazar has entered into an agreement
with Silvercorp whereby they have indicated they will support the Transaction.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">In addition to Adventus securityholder and court approval,
the Transaction is also subject to the satisfaction of certain other closing conditions customary for a transaction of this nature. The
Transaction has been conditionally approved by the TSXV but remains subject to final approval of the TSXV on behalf of Adventus, and approval
of the TSX and NYSE American on behalf of Silvercorp, including the acceptance for listing of the Silvercorp Shares to be issued in connection
with the Transaction. The Transaction is expected to be completed in the third quarter of 2024.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The Arrangement Agreement includes representations,
warranties, covenants, indemnities, termination rights and other provisions customary for a transaction of this nature. In particular,
the Arrangement Agreement provides for customary deal protections, including a non-solicitation covenant on the part of Adventus and a
right for Silvercorp to match any Superior Proposal (as defined in the Arrangement Agreement). The Arrangement Agreement includes a termination
fee of C$10&nbsp;million, payable by Adventus, under certain circumstances (including if the Arrangement Agreement is terminated in connection
with Adventus pursuing a Superior Proposal).</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Boards&nbsp;Approvals and&nbsp;Recommendations</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">The board of directors of Adventus (the &quot;<B>Adventus
Board</B>&quot;) has unanimously&nbsp;approved the Transaction and recommends that Adventus shareholders vote in favour of the Transaction
at the Special Meeting.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Cormark Securities Inc., financial advisor to Adventus,
has provided an opinion to the Adventus Board, stating that, based upon and subject to the assumptions, limitations and qualifications
set forth therein, the consideration to be received by Adventus shareholders pursuant to the Transaction is fair, from a financial point
of view, to Adventus shareholders. Additionally, Raymond James Ltd., has provided an independent opinion to the Adventus Board, stating
that, based upon and subject to the assumptions, limitations and qualifications set forth therein, the consideration to be received by
Adventus shareholders pursuant to the Transaction is fair, from a financial point of view, to Adventus shareholders.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Further details regarding the terms of the Transaction
are set out in the Arrangement Agreement, which will be publicly filed by Adventus under its profile on SEDAR+ at www.sedarplus.ca. Additional
information regarding the terms of the Arrangement Agreement, the background to the Transaction, the rationale for the recommendations
made by the Adventus Board and how Adventus shareholders can participate in and vote at the Special Meeting to be held to consider the
Transaction will be provided in the management information circular for the Special Meeting which will also be filed at www.sedarplus.ca.
Adventus shareholders are urged to read these and other relevant materials when they become available.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Boards&nbsp;Approvals and&nbsp;Recommendations</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">BMO Capital Markets is&nbsp;acting&nbsp;as&nbsp;financial&nbsp;advisor
to&nbsp;Silvercorp.&nbsp;McCarthy T&eacute;trault LLP and FBPH Abogados are acting as Silvercorp's Canadian and Ecuadorian legal advisors,
respectively.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Cormark Securities is&nbsp;acting&nbsp;as&nbsp;financial&nbsp;advisor
to&nbsp;Adventus.&nbsp;Bennett Jones LLP and&nbsp;AVL Abogados are&nbsp;acting as Adventus' Canadian and Ecuadorian legal advisors, respectively.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Conference&nbsp;Call&nbsp;/&nbsp;Webinar Details</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Silvercorp and Adventus will host a joint conference
call to discuss the Transaction on April 26<B>,</B> 2024 at 8:00 am EST /&nbsp;5:00&nbsp;am&nbsp;PST.&nbsp;Participants&nbsp;are&nbsp;advised&nbsp;to&nbsp;dial
in&nbsp;five&nbsp;minutes&nbsp;prior&nbsp;to&nbsp;the&nbsp;scheduled&nbsp;start&nbsp;time&nbsp;of&nbsp;the&nbsp;call.&nbsp;A&nbsp;presentation&nbsp;will&nbsp;be&nbsp;made&nbsp;available
prior to the webcast. Participants may dial in using the numbers below or by accessing the webcast link.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Toll-free in the U.S. and Canada: 1-888-664-6383</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">All other callers: 1-416-764-8650</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 15pt">Register to join via webcast: https://app.webinar.net/zj1waBlAZdb</FONT></TD></TR></TABLE>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Qualified Persons</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Guoliang Ma, P. Geo., Manager of Exploration and Resources
of Silvercorp Metals Inc. and Christian Paramo, P. Geo., Senior Geologist of Adventus Mining Corporation, both qualified person under
NI 43-101, have approved the scientific and technical information related to the operations matters contained in this news release.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Early Warning Information</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Silvercorp does not currently own any Adventus Shares.
Following completion of the Placement, Silvercorp will own 67,441,217 Adventus Shares (the &quot;Placement Shares&quot;), representing
approximately 15% of the issued and outstanding Adventus Shares. The Placement Shares were issued to Silvercorp at an issue price of C$0.38
per share or C$25,627,662 in the aggregate. Following the completion of the Transaction, Silvercorp will own 100% of the issued and outstanding
Adventus Shares. An early warning report will be filed by Silvercorp in accordance with applicable securities laws and will be available
on SEDAR+ at <B>www.sedarplus.ca</B>&nbsp;or may be obtained directly from Silvercorp upon request at (604) 669-9397. Silvercorp's head
office is located at Suite 1750-1066 W. Hastings Street Vancouver, BC Canada V6E 3X1.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>Adventus Personnel Update</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Adventus announces that Luc Vets, has been appointed
as Project Consultant effective May 1, 2024. Luc will succeed Dustin Small who will be leaving Adventus by April 30, to pursue other opportunities.
We wish Dustin every success in his future endeavours. Luc is a seasoned engineer and project manager with over 30 years of end-to-end
project execution experience in both the mining and industrial sectors throughout various continents in the world. Luc has a dual mechanical
&amp; electrical degree from University of Port Elizabeth with a Master in High Voltage Engineering as well as a general MBA from James
Cook University.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>About Silvercorp</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Silvercorp is a Canadian mining company producing
silver, gold, lead, and zinc with a long history of profitability and growth potential. Silvercorp's strategy is to create shareholder
value by 1) focusing on generating&nbsp;free&nbsp;cash flow from&nbsp;long&nbsp;life&nbsp;mines;&nbsp;2)&nbsp;organic&nbsp;growth through&nbsp;extensive&nbsp;drilling
for&nbsp;discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) long term commitment to responsible mining and ESG.</P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>About Adventus</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Adventus Mining Corporation is an Ecuador-focused
copper-gold exploration and development company. Adventus is advancing the majority-owned Curipamba copper-gold project, which has a completed
feasibility study on the shallow and high-grade El Domo deposit. With the recent merger with Luminex Resources Corp., Adventus Mining
owns the Condor gold project and a large exploration project portfolio that spans over 135,000 hectares - one of the largest holdings
in Ecuador. The company's strategic shareholders include Ross Beaty's Lumina Group, Altius Minerals Corporation, Wheaton Precious Metals
Corp., and significant Ecuadorian investors.</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B><I>This announcement has been approved for distribution
by the Board of Directors of each of Silvercorp and Adventus.</I></B></P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For further information</B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Silvercorp Metals Inc.<BR>
</B>Lon Shaver President<BR>
Phone: (604) 669-9397<BR>
Toll Free 1(888) 224-1881<BR>
Email:&nbsp;investor@Silvercorp.ca&nbsp;Website: <U>www.Silvercorp.ca</U></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><B>Adventus Mining Corporation<BR>
</B>Christian Kargl-Simard<BR>
President, CEO and Director Phone: (416) 230 3440<BR>
Email: christian@adventusmining.com<BR>
Website:&nbsp;www.<U>Adventusmining.com</U></P>

<P STYLE="font: 17.5pt Arial, Helvetica, Sans-Serif; margin: 0"><B><I>CAUTIONARY&nbsp;DISCLAIMER&nbsp;-&nbsp;FORWARD&nbsp;LOOKING STATEMENTS</I></B></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>&nbsp;This news release includes &quot;forward-looking
statements&quot; within the meaning of the United States Private Securities Litigation Reform Act of 1995 and &quot;forward-looking information&quot;
within the meaning of applicable securities laws relating to, among other things, the anticipated benefits of the Transaction, the strategic
rationale for the Transaction, the anticipated use of the proceeds of the Placement, the timing and anticipated receipt of required shareholder,
regulatory court, stock exchange or other approvals, the ability of the parties to satisfy the other conditions to the closing of the
Transaction and the anticipated timing for closing of the transaction. Forward-looking information may in some cases be identified by
words such as &quot;will&quot;, &quot;anticipates&quot;, &quot;expects&quot;, &quot;intends&quot; and similar expressions suggesting future
events or future performance.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>We caution that all forward-looking information
is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking
information.&nbsp; A number of risks, uncertainties and other factors could cause actual results and events to differ materially from
those expressed or implied in the forward-looking information or could cause our current objectives, strategies and intentions to change.
Accordingly, we warn investors to exercise caution when considering statements containing forward-looking information and that it would
be unreasonable to rely on such statements as creating legal rights regarding our future results or plans. We cannot guarantee that any
forward-looking information will materialize and you are cautioned not to place undue reliance on this forward-looking information. Any
forward-looking information contained in this news release represent expectations as of the date of this news release and are subject
to change after such date. However, we are under no obligation (and we expressly disclaim any such obligation) to update or alter any
statements containing forward-looking information, the factors or assumptions underlying them, whether as a result of new information,
future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the
cautionary statements herein.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>Forward-looking information is provided herein
for the purpose of giving information about the Transaction referred and its expected impact. Readers are cautioned that such information
may not be appropriate for other purposes. Completion of the Transaction is subject to customary closing conditions, termination rights
and other risks and uncertainties including court and shareholder approval. Accordingly, there can be no assurance that the Transaction
will occur, or that it will occur on the terms and conditions contemplated in this news release. The Transaction could be modified, restructured
or terminated. There can also be no assurance that the strategic benefits expected to result from the Transaction will be fully realized.&nbsp;
In addition, if the transaction is not completed, and each of the parties continues as an independent entity, there are risks that the
announcement of the Transaction and the dedication of substantial resources of each party to the completion of the Transaction could have
an impact on such party's current business relationships (including with future and prospective employees, customers, distributors, suppliers
and partners) and could have a material adverse effect on the current and future operations, financial condition and prospects of such
party.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><I>A comprehensive discussion of other risks that
impact Silvercorp and Adventus can also be found in their public reports and filings which are available under their respective profiles
at </I>www.sedarplus.ca<I>.</I></P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0"><IMG SRC="adventuslogo.jpg" ALT=""><BR>
(CNW Group/Silvercorp Metals Inc)</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-to-acquire-adventus-creating-a-geographically-diversified-mining-company-by-adding-the-advanced-el-domo-project-302128502.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">SOURCE Silvercorp Metals Inc</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2024/26/c5719.html</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">%CIK: 0001340677</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CO: Silvercorp Metals Inc</P>

<P STYLE="font: 15pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">CNW 04:58e 26-APR-24</P>

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