Trading Symbol     

TSX:  SVM

NYSE AMERICAN: SVM

VANCOUVER, BC, Sept. 15, 2023 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") announced today a normal course issuer bid to acquire up to 8,487,191 common shares of the Company, representing approximately 4.8% of the 176,816,488 common shares issued and outstanding as of September 5, 2023. The repurchase program will run from September 19, 2023 to September 18, 2024. The Company is taking this action to provide it with enhanced flexibility should market conditions result in Silvercorp's shares being undervalued relative to the value of its mining operations and corporate assets comprised of cash and cash equivalents and short-term investments of $200.6 million, in addition to investments in associates and other companies having a total market value of $71.7 million, both as at June 30, 2023.