Corporate Presentation · Corporate Presentation September 29, 2017 SVM:TSX/NYSE AMERICAN. ... Fiscal 2015 Fiscal 2016 Fiscal 2017 Fiscal 2018 P e r O z S i l v e r P r i c e P e

Corporate PresentationSeptember 29, 2017

SVM:TSX/NYSE AMERICAN

FORWARD LOOKING STATEMENTS

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995:

Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those with respect to the price of silver, lead and zinc, the possibility, timing and amount of estimated future production, costs of production, reserve determination and reserve conversion rates involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Silvercorp to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to international operations, risks related to Chinese government issuance of mining and related development permits, risks related to joint venture operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silver, lead and zinc, as well as other Risk Factors.

Although Silvercorp has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The shares of Silvercorp Metals Inc. trade on the Toronto Stock Exchange (TSX: SVM) and NYSE MKT (NYSE MKT: SVM). The TSX and NYSE have not approved or disapproved the form or content of this presentation.

Cautionary Note To U.S. Investors Concerning Estimates Of Measured, Indicated And Inferred Resources

This presentation uses the terms “Measured”, “Indicated” and Inferred” Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the Securities and Exchange Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to assume that all or any part of Measured or Indicated Resources will ever be converted into reserves. U.S. investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

2SVM:TSX/NYSE AMERICAN

SVM:TSX/NYSE AMERICAN 3

Ying Mining District, Henan Province Q1 FY2018: 1.3Moz Silver

Q1 FY2018: 14.5Mlbs Pb+Zn

GC Project, Guangdong ProvinceQ1 FY2018: 0.2Moz Silver

Q1 FY 2018: 6.4Mlbs Pb+Zn

BYP Mine,

Hunan Province(On Care and Maintenance)

XHP Project

Henan Province

Reserves & Resources 1,2,3 Silver

(Moz)

Lead

(Kt)

Zinc

(Kt)

Proven & Probable Reserves 113.5 523.1 296.0

Measured & Indicated Resources 158.3 731.5 449.7

Inferred Resources 108.7 521.9 327.1

1 Feb. 2017- Excludes BYP Gold Mine Resource. See appendix III-V for breakout.

2 M&I, Inclusive of Reserves

3 Excludes Gold Equivalent

CHINA’S LARGEST PRIMARY SILVER PRODUCER

STRONG BALANCE SHEET

Quarter Ended

June 30, 2017

(millions US$)

Quarter Ended

June 30, 2016

(millions US$)

▸ Revenue $39.7 $35.3

▸ Gross Profit $20.0 $15.7

▸ Net Income $10.9** $4.7**

▸ Cash Flow from Operations $16.9 $20.2

▸ Cash, equivalents & short-term investments: $102.1 Million, an increase of $28.66 million from fiscal Q1 2017

▸ Reinstatement of dividend CAD$0.02/year*

▸ No Receivables (Smelters pay for concentrate in advance)

▸ No Long-term Debt


* Dividend of US$0.01 per share was paid on or before June 30th, 2017

** Net income attributable to equity shareholders

HIGH PROFIT MARGIN SILVER PRODUCER


Q1 Fiscal Year 2018 Results

Q1 FY2018 Sales Mix by MetalLow cost producer of silver - cash cost of

negative $3.57** per Ag ounce for Q1 FY2018*

* Silvercorp reported Q1 FY2018 ended June 30, 2017

Peers- First Majestic, Endeavor Silver and Coeur Mining reported Q2 2017 ended on June 30, 2017

Fortuna reported Q1 2017 ended on March 31, 2017

** Net of by-product credits. AISCC of $4.70 per Oz

Silver

51%

Gold

2%

Lead

34%

Zinc

12%

Other

1%

LOWEST ALL IN SUSTAINING COSTS


$4.70

$7.56

$14.58$15.73

$20.46

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

$22

AISCC*

* Silvercorp reported Q1 FY2018 ended June 30, 2017

Peers- Endeavor Silver, Coeur Mining and First Majestic reported Q2 2017 ended on June 30, 2017

Fortuna reported Q1 2017 ended on March 31, 2017

** Net of by-product credits. AISCC of $4.70 per Oz

$C

ost

pe

r O

z S

ilve

r

IMPROVING HEAD GRADES


CONSOLIDATED NET PROFIT PER TONNE


10

11

12

13

14

15

16

17

18

(15)

35

85

135

185

235

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

Fiscal 2015 Fiscal 2016 Fiscal 2017 Fiscal2018

P

e

r

O

z

S

i

l

v

e

r

P

r

i

c

e

P

e

r

t

o

n

n

e

v

a

l

u

e

Consolidated Net Profit Per Tonne

Revenue per tonne ($/t) AISC per tonne ($/t)

Profit per tonne ($/t) Net realized silver selling price ($/oz)

ROBUST NET REALIZED LEAD SELLING PRICE


Silvercorp Net Realized Lead Selling Price on September 22, 2017 was

$1.18/lb

London Metal Exchange Lead Spot Selling Price on September 22, 2017

was $1.12/lb

SHMET Lead Price (September 22, 2017) 21,050 RMB/mt

Smelter Deduction (-) 1,300 RMB/mt

Value Added Tax at 17% 2,870 RMB/mt

Net Realized Lead Selling Price/RMB/mt 16,880 RMB/mt

Net Realized Lead Selling Price/RMB/lb (1mt=2202 lb) 7.672

Net Realized Lead Selling Price/US$/lb (1US$=6.5RMB) $1.18

ENTERPRISE BLOG: A PRODUCTIVITY TOOL

Improvement in the head grades of metals can be attributed in part to an internal “Enterprise Blog”

(EB) system in the management of Mine Production and Safety Information.

“EB” system is an internet social media system that makes the collection, distribution and flow of

the work related knowledge and information easy and transparent for parties at different locations.

▸ Each of the mining stopes, development faces, or equipment is assigned a “blog” name.

▸ Daily onsite inspection results of different workplaces listed in “check list tables” contain

structured data with supporting photos which are “posted” on different “blogs”.

▸ Different levels of the management team can access to the daily “blogs” for each workplace

instantly once posted.

▸ Records of a management person’s access to the “blogs” will make related parties accountable.


REDUCES DILUTION & IMPROVES SAFETY



This supporting photo posted by an onsite

technician clearly shows the CO reading for

the stope is less that 24 ppm as required by

the government.

This supporting photo

posted by frontline

technicians shows an

inspected stope with

clearly marked ore

boundaries and drill

hole locations.


Benefits of the “Enterprise Blog”

▸ Information collection, distribution, retrieval, and site monitoring becomes instantly transparent.

▸ Information and data from frontline technicians or engineers freely flows throughout layers of the management structure.

▸ Structured data format provides statistics for key management info.


▸ Management has the directive, pressure, and tools to make prompt and more accurate

decisions.

▸ The system will also record if a management person has accessed the “blog” to read or

comment.

▸ Collaboration becomes easy, KPI assessments are fair and timely, and each person is

accountable for his work.

YING MINING DISTRICT: SILVERCORP’S FLAGSHIP ASSET

▸ Flagship Ying District consists of underground mines (SGX, TLP, LM, and HPG) –over 200

veins identified

▸ 68.74km2 land package


▸ Extensive underground drilling has increased

mine life to 20 years

▸ Has produced 50.7 million Oz silver plus

711.5 million lbs of Lead+Zinc since 2006

▸ Two centralized mills with 3,200 t/d capacity

▸ Producing silver-lead and zinc concentrates

▸ 6 smelters within 200km of the district

▸ Opportunity for further acquisitions in local

area

GC MINE IN GUANGDONG

Our Newest Mine

▸ Initial production start 2014

▸ Underground silver/zinc mine

▸ Excellent infrastructure and access

▸ Profitable operations


Main Access Ramp

BYP GOLD MINE – A NON-CORE ASSET

Status:

▸ Suspended mining operations in

August 2014

▸ Capital requirements for

upgrades to sustain ongoing

production are being considered

▸ Continues to review alternatives

for this project


500 tpd Mill at the BYP Mine

SILVER PRODUCTION: 52.6 MILLION OUNCES TO DATE


LEAD + ZINC PRODUCTION


Over 773 Million Pounds to Date

GROWTH OF REMAINING RESERVES & RESOURCES


1 Excludes Lead and Zinc. Gold was converted to Silver equivalent at a rate of 65:1. 2 Measured & Indicated Resources Inclusive of Reserves. See Appendix III, IV and V for breakout of Measured, Indicated and Inferred, Proven and Probable

categories.

18.9

40.1

51.9

81.1

102.0 98.8

122.0

148.2

159.4

180.5

64.459.0

98.5102.8

115.3

-

20

40

60

80

100

120

140

160

180

200

2005 2006 2007 2008 2009 2010 2011 2012 2014 2017

Oun

ces

of S

ilver

an

d S

ilver

Eq.

* (

Mill

ion

s)

Reserves & Resources: FY2005 - FY2017 1,2

(not including 50Moz Ag production 2005-2016)

M&I

P&P Reserves

FY 2018 GUIDANCE


FY2018 Guidance + 3 Month Actual*

Project

Ying Mining District GC Mine Grand Total

FY2018E3 Month

ActualFY2018E

3 Month

ActualFY2018E

3 Month

Actual

Ore processed (tonnes) 650,000 164,959 250,000 65,944 900,000 230,903

Head Grades

Silver (gram per tonne) 275 304 90 98

Lead (%) 4.2 4.6 1.5 1.6

Zinc (%) 0.9 0.8 2.6 2.7

Metal Sales

Silver (million ounces) 5.3 1.3 0.4 0.2 5.7 1.5

Lead (million pounds) 56 13.8 7.1 2.1 63.1 15.9

Zinc (million pounds) 6 0.8 12.3 4.2 18.3 5

* Current fiscal year ending March 31, 2018

FY2018 CAPITAL EXPENDITURE GUIDANCE


(CURRENT FISCAL YEAR ENDING MAR 31, 2018)*

Mines/ Projects

Mine Development and Tunneling**Facilities/

Land Usage/ Equipment***

Total US$million

Amount

(US$million)work (meters)

Amount

(US$million)

FY20183 Month

ActualFY2018

3 Month

ActualFY2018 3 Month Actual FY2018

3 Month

Actual

Ying Mining District 19.5 5.2 66,000 18,890 2.0 0.8 21.5 6.0

GC Mine 0.5 0.1 300 158 0.5 0.02 1.0 0.12

Total Budget 20.0 5.3 66,300 19,048 2.5 0.82 22.5 6.12

* Includes sustaining capital

** For FY2018, total tunneling at Ying Mining District is budgeted at 83,000 meters, of which 66,000 meters will be capitalized and 17,000 meters will be expensed.

Total tunneling at GC mine is budgeted at 10,000 meters, of which 300 meters will be capitalized and 9,700 meters will be expensed.

*** For FY2018, total drilling at Ying Mining District and GC mine is budgeted at 76,000 meters and 17,000 meters. All of the drilling will be expensed.

FY 2018 guidance as of Feb. 2, 2017.

APPENDICES


APPENDIX I:


OWNERSHIP AND COVERAGE

Ownership

Analyst Coverage

Chris Thompson Raymond James

Top 10 Institutional Investors % O/S

1 Van Eck Associates Corporation 6.25

2 O'Shaughnessy Asset Management LLC 2.19

3 Old Mutual Global Investors (UK), LTD 1.75

4 AMG Fondsverwaltung AG 1.19

5 Global X Management Company, LLC 1.14

6 AXA Investment Managers (U.K.), LTD 0.90

7 Stabilitas GmbH 0.89

8 DZ Privatbank S.A. 0.89

9 TIAA-CREF Investment Management, LLC 0.86

10 Spark Investment Management, LLC 0.76

Source: BD Corporate August 2017 Data

Joe Reagor Roth Capital

Insiders

3.54% Institutional

25.94%

Retail

70.52%

APPENDIX II


MANAGEMENT & BOARD

Management

Rui Feng, Ph.D., Geology

Chairman and CEO, Director

Derek Liu, MBA, CGA, CPA

Chief Financial Officer

Luke Liu, M. Eng. PhD (Mining Eng.)

Vice President China Operations

Lorne Waldman, MBA, LL.B.

Senior Vice President

Alex Zhang, M. Eng., M.Sci., P. Geo.

Vice President, Exploration

Gordon Neal

Vice President, Corporate Development

Board of Directors

Rui Feng Marina Katusa

Yikang Liu Paul Simpson

David Kong

APPENDIX III:


SUMMARY OF SILVER RESERVES1

Project Reserve CategoryTonnes

(Million)

Average Grades Contained Metal Reserves

Ag (g/t) Pb (%) Zn (%) Ag (Moz) Pb (t) Zn (t)

Ying Mining District

Proven 4.67 252 4.15 1.55 37.85 193,950 72,240

Probable 7.63 233 3.50 1.09 57.16 267,010 83,450

GC Project

Proven 0.46 199 1.12 3.18 3.00 5,200 14,800

Probable 4.29 113 1.33 2.93 15.50 56,900 125,500

Consolidated

Proven 5.13 40.85 199,150 87,040

Probable 11.92 72.66 323,910 208,950

Total 17.05 113.51 523,060 295,990

1. Table excludes HPG mine Proven reserves of 16,430 oz Au (470,000 tonnes grading 1.10 g/t Au) and HPG mine Probable reserves of 10,840 oz Au (290,000 tonnes grading 1.15 g/t Au)

APPENDIX IV:


SUMMARY OF SILVER RESOURCES1

Project Resource CategoryTonnes

(Million)

Average GradesContained Metal Resources (Inclusive of

Reserves)

Ag (g/t) Pb (%) Zn (%) Ag (Moz) Pb (t) Zn (t)

Ying Mining

District

Measured 5.91 266 4.36 1.64 50.55 257,600 96,690

Indicated 10.40 233 3.59 1.13 77.76 373,000 117,660

Inferred 10.47 230 3.91 1.10 77.25 409,400 115,220

GC Project

Measured 0.59 230 1.41 3.33 4.40 8,400 19,800

Indicated 7.04 113 1.31 3.06 25.60 92,500 215,500

Inferred 7.96 123 1.41 2.66 31.40 112,500 211,900

Consolidated

Measured 6.50 54.95 266,000 116,490

Indicated 17.44 103.36 465,500 333,160

Inferred 18.43 108.65 521,900 327,120

1. Table excludes HPG mine Measured resources of 24,000 oz Au (690,000 tonnes grading 1.10 g/t Au), Indicated resources of 22,000 oz Au (630,000 tonnes grading 1.10 g/t Au),

Inferred resources of 39,000 oz Au (1,010,000 tonnes grading 1.21 g/t Au). Table also excludes BYP Au-Pb-Zn project resources (BYP resources summarized on Slide 28).

APPENDIX V:


BYP MINE RESOURCE

CLASSCut-off Grades

(g/t)

Resource GradesContained Metal

Resources

(tonne) Au (g/t) Au (oz)

Indicated 1.0 3,510,000 2.59 292,000

Inferred 1.0 2,470,000 1.84 146,000

Mineral Resources for Gold Zones as of December 31, 2011:

CLASS Cut-off Grades (g/t)Resource Grades

Contained Metal

Resources

(tonne) Pb(%) Zn(%) Pb (Tonnes) Zn (Tonnes)

Indicated 2.0 Pb+Zn 7,330,000 1.16 2.52 85,000 184,700

Inferred 2.0 Pb+Zn 7,550,000 0.85 2.75 64,200 207,600

Mineral Resources for Lead and Zinc Zones as of December 31, 2011:

Notes to Resource Tables:

1. CIM definitions apply

2. Mined tonnages deducted

3. Resources are rounded to nearest 10,000 tonnes

4. Cut-off grades are based on mining, processing and G & A costs of $38/t

5. Technical report filed on August 16, 2012 at www.sedar.com

KEY GROWTH CATALYSTS

Ying Mining District :

▸ More efficient and lower cost mining

▸ Reduced management overhead and greater incentives

▸ Longer term opportunity to increase mining capacity to match milling capacity

▸ Further near district acquisitions

GC Project:

▸ Commercial production underway

▸ Fine tuning operations to improve efficiencies and lower costs

▸ Continue exploration to expand resources

Growth:

▸ Grow existing assets organically through land expansion and drilling

▸ Acquire under-explored, smaller-scale mining projects, ideally in Asia, with resource growth potential

▸ BYP


ENDNOTES AND CAUTIONARY STATEMENTS

Alex Zhang, P. Geo., Vice President of Exploration, is the Qualified Person within the meaning of National Instrument 43-101 – Standards Of Disclosure for Mineral Projects (“NI 43-101”) who supervised the preparation of the scientific and technical information of Silvercorp included in this presentation.

For more information on Silvercorp’s projects, readers should refer to Silvercorp’s Annual Information Form, dated June 16, 2016, and its technical reports, each of which is available on SEDAR at www.sedar.com.

The scientific and technical information related to Silvercorp’s projects included in this investor presentation are derived from the technical reports entitled:

- NI 43-101 Technical Report for Ying Gold-Silver-Lead-Zinc Property, Henan Province, China, effective date 31

December, 2016 by P R Stephenson, P. Geo., H A Smith, P.Eng., A Ross, P. Geo, H Muller, Beng, MAusIMM, CP

- Technical Report for BYP Gold-Lead-Zinc Property, Hunan Province, China, effective date 30 June, 2012, prepared

by P R Stephenson, P. Geo., H A Smith, P.Eng., A Riles, MAIG, M Molavi, P.Eng, D. Nussipakynova, P.Geo., A. Ross,

P.Geo.

- NI 43-101 Technical Report on the GC Ag-Zn-Pb Project in Guangdong Province, People’s Republic of China,

effective date 23 January, 2012, prepared by Brian O’Connor, P. Geo, Peter Mokos, MAusIMM (CP), Alan Riles,

MAIG, Owen Watson, MAusIMM (CP), Mo Molavi, P. Eng, Patrick Stephenson, P. Geo, AMC Mining Consultants

(Canada) Ltd.



Suite #1378 - 200 Granville St., Vancouver, BC, Canada V6C 1S4

Tel: 604-669-9397

Fax: 604-669-9387

Toll-Free: 1-888-224-1881

HEAD OFFICE

Silvercorp’s disclosure documents are available from the System for Electronic Document

Analysis and Retrieval (SEDAR) at www.sedar.com

SVM:TSX/NYSE AMERICAN

[email protected]

www.silvercorp.ca

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Corporate Presentation · Corporate Presentation September 29, 2017 SVM:TSX/NYSE AMERICAN. ... Fiscal 2015 Fiscal 2016 Fiscal 2017 Fiscal 2018 P e r O z S i l v e r P r i c e P e