Silvercorp Metals Approves $196.3 Million Budget to Advance Kyrgyz Gold Projects

Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) has approved a US$196.3 million budget for its 70%-owned joint venture, Chaarat ZAAV CJSC, to advance development of the Tulkubash and Kyzyltash gold projects in the Kyrgyz Republic, according to a company announcement. The budget allocates US$166.3 million for Phase 1 development of the fully permitted Tulkubash open-pit heap leach operation and US$30 million for Phase 2 activities at the Kyzyltash sulfide deposit. Spending is forecast at US$57.3 million in 2026 and US$139 million in 2027.

The Phase 1 development at Tulkubash will include construction of open-pit mining infrastructure, heap leach facilities, a crusher, an ADR plant, and supporting infrastructure. The company expects to publish an updated feasibility study for Tulkubash in July 2026. Phase 2 funding will support drilling and technical studies aimed at advancing Kyzyltash toward feasibility and construction. Silvercorp plans a 50,000- to 60,000-meter drilling program at Kyzyltash this year to upgrade resources and expand the deposit.

The approval underscores Silvercorp's strategy to create shareholder value through free cash flow generation from long-life mines, organic growth via extensive drilling, and ongoing merger and acquisition efforts. The company has a long history of profitability in silver, gold, lead, and zinc production and remains committed to responsible mining and ESG principles.

For more details, the full press release is available at https://nnw.fm/RTirNAbout. Additional updates on Silvercorp can be found in the company's newsroom at https://nnw.fm/SVM.