Silvercorp Reports Intercept of 7.39 Meters Grading 678 Grams Per Tonne Silver and 7.90 Percent Lead Among Results From Successful 2011 Underground Drilling Program at the LM Mine West

Silvercorp Metals

is pleased to report the results of its successful 2011 underground diamond drilling program at the southwest corner (also called LM Mine West) of the TLP Mining Permit area, Ying Mining District, Henan, China. The drill program discovered four new high grade silver-lead veins, increasing the total number of mineralized veins at the LM Mine West to 31. The program also extended the previously known veins further to the down dip and striking directions. It is expected that the success of the 2011 drilling program will result in additional mineral resources being defined in the Resource and Reserve technical updates currently underway (see press release of December 29, 2011 - Silvercorp To Commence Work On Resource And Reserve Updates). 2011 Drill Results The 2011 drilling program at the LM Mine West was designed to follow up on the successful 16,984 meter (m) 2010 drilling campaign (Press Release dated January 4, 2011), the results of which were incorporated into a new resource estimate (Press Release dated July 7, 2011). The 2011 drill program at the LM Mine West consisted of a total of 37,359 m of underground diamond drilling in 78 drill holes completed using six underground drill rigs. Table 1 below lists assay results from the 40 drill holes which have mineralization interceptions yielding significant silver (Ag) - lead (Pb) grades while the remaining holes not listed only intersected vein structures with weak mineralization.