Trading Symbols:
SVM (TSX/NYSE American)
SRL (TSXV), SRLZF (OTCQB)
VANCOUVER, BC, Aug. 21, 2024 – Following the successful acquisition of Adventus Mining Corporation on July 31, 2024, and the receipt of the Change of Phase for the El Domo copper-gold project, Silvercorp Metals Inc. (“Silvercorp” or the “Company”), its Ecuadorian subsidiary, Curimining S.A. (“Curimining”), and Salazar Resources Limited (“Salazar”), collectively known as the Companies, have commenced the construction process with the aim of bringing the Project into production by 2026.
Senior Mining Executives Added to the Team
Silvercorp has appointed Jaymes Dircks as the General Manager of Curimining to oversee the construction of the Project. Jaymes brings extensive experience in mine construction and project management, having previously served in key roles at various mining companies. In addition, the Company has also hired a senior mining engineer with expertise in building and operating large-scale open-pit copper mines.
Construction Preparation and Flowsheet Improvement
The Company has identified several priority projects to advance the construction process, including further metallurgical test work to enhance metal recoveries, improving power supply for mine operations, optimizing access infrastructure, and completing Detailed Engineering Designs based on the 2021 Feasibility Study. The metallurgical test work holds significant potential to improve the Project’s economics by optimizing the existing flow sheet.
Qualified Person
Jinxing Ji, P. Eng., an independent consultant engaged by Silvercorp, is a qualified person under National Instrument 43-101 and has reviewed and approved the technical information presented in this news release.
About Silvercorp
Silvercorp is a Canadian mining company focused on producing silver, gold, lead, and zinc. The Company aims to create shareholder value through generating free cash flow from long-life mines, organic growth through exploration, merger and acquisition activities, and a commitment to responsible mining and ESG practices.
About Salazar
Salazar Resources Limited is dedicated to discovery, exploration, and development in Ecuador. The Company has a proven track record of major project discoveries in the country, including operating gold and copper mines. Salazar Resources actively engages with local communities and co-founded The Salazar Foundation to promote sustainable economic development.
About the El Domo Project
The El Domo Project is a high-grade copper-gold project located in Central Ecuador, approximately 150 km northeast of Guayaquil. The project boasts a flat-lying tabular VMS deposit with mineralization starting at 30 meters from the surface.
For further information, please contact:
Silvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Email: [email protected]
Website: www.silvercorpmetals.com
CAUTIONARY DISCLAIMER – FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and information regarding the development and construction of the Project, as well as metallurgical tests and geotechnical drilling activities. These statements involve inherent risks and uncertainties that may impact actual results and performance. Investors are advised to exercise caution when considering forward-looking information and not to rely solely on such statements for making investment decisions. For a comprehensive discussion of risks impacting Silvercorp, refer to the Company’s public reports and filings available on SEDAR and the SEC websites.
CAUTIONARY NOTE TO US INVESTORS
The technical information provided in this release has been prepared in accordance with NI 43-101 standards, which differ from the SEC’s standards. Therefore, the information disclosed may not be directly comparable to data reported by U.S. companies under SEC regulations. Additional information regarding the Company can be found on SEDAR, EDGAR, and the Company’s website.
SOURCE Silvercorp Metals Inc
