Silvercorp Repurchases Approx. $35 Million of Shares Under NCIB - Silvercorp Metals (AMEX:SVM)

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SilvercorpMetals Inc. (NYSE: SVM) announced ithas acquired a total of 4,468,012 of its common shares at a total cost of$34,949,140 (average price of CDN$7.82 pursuant to its normal course issuerbid ("NCIB") announced on June 17, 2011. Under the existing NCIB the Companyintends to acquire up to 10 million common shares. All common sharespurchased under the NCIB will be cancelled.

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