Silvercorp Metals Inc. Announces Updated Resource Estimate for Condor Project

Silvercorp Metals Inc. (NYSE-A: SVM) (TSX: SVM) has released an updated mineral resource estimate for its Condor Project in Ecuador, showcasing the high-grade underground potential of the Camp and Los Cuyes deposits. The estimate, prepared by SRK Consulting (Canada) Inc., indicates total indicated underground mineral resources of 3.17 million tonnes containing 0.37 million gold equivalent ounces and inferred resources of 12.1 million tonnes with 1.50 million gold equivalent ounces, both at a cutoff grade of 2.2 g/t AuEq. This update marks a pivotal step in Silvercorp's strategy to develop Condor into a high-grade underground gold project, with a preliminary economic assessment for an underground operation anticipated by the end of 2025. Additionally, the El Domo Project is progressing as planned, aiming for production in 2026. The ongoing 3,500-metre drill program is expected to further expand the known mineralization zones, underscoring the project's growing significance in the mining sector.