Silvercorp Metals Acquires Two Mining Properties Henan Province, China

Silvercorp Metals Inc. of Vancouver announced that its 77.5% owned subsidiary, China-based Henan Foundation Mining Co., will obtain, through a share purchase agreement, a 90% equity interest in two private mining companies in China’s Henan province: Zhongxing Mining Co. Ltd. and Chuanxin Mining Co. Ltd. Henan Foundation Mining made a cash payment of approximately US$10.4 million for the gold-lead-zinc purchase. Silvercorp Metals is engaged in the acquisition, exploration, development and mining of high-grade silver-related mineral properties in China and Canada.