Silvercorp Responds to Article, Says Subpoena Seeks Info Related to Muddy Waters, Others

Silvercorp Metals Inc.

("Silvercorp" or the "Company") has noted an article published in the media on April 2, 2013, regarding a subpoena the Company recently received from the U.S. Securities and Exchange Commission (the "SEC"). The article identifies some, but not all, of the individuals and entities referenced in the subpoena. The following is a quotation from the subpoena setting forth the documents and information it seeks: "III. Documents and information requested 1. Any and all documents relating to any and all allegations made by Anthion Management LLC (a/k/a chinastockwatch.com), alfredlittle.com, EOS Holdings LLC, Balizar Inc., International Financial Research & Analysis Group (a/k/a IFRA), Muddy Waters Research, Oasis Capital Management, Quantum Asset Partners, Gems Capital Management, Jon Carnes (a/k/a Alfred Little, Andrew Wong, Robert Steven), Loren Weinberg (a/k/a Simon Moore, Tyler Jacobs), Kun Huang (a/k/a Dino Huang, Huang Biqiang), Huang Xiaofu (a/k/a Jeff Huang), Carson Block, Alexander Shoghi or Shawn Rhynes against Silvercorp (collectively, "Allegations"), including: a. Any and all documents Silvercorp created, originated or otherwise relating to the Allegations; and b. Any and all documents discovered or produced by any party in the civil litigation, Silvercorp Metals Inc. v. Anthion Management LLC, et al., No. 150374/2011 (J. Edmead), in the Supreme Court of the State of New York, County of New York." The Company is cooperating fully with the SEC on the matter.