VANCOUVER, BC, April 16, 2026 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX:SVM) (NYSE:SVM) reports production and sales figures for the fourth quarter ("Q4 Fiscal 2026") and fiscal year ended March 31, 2026 ("Fiscal 2026") and the production and cost guidance for the 2027 fiscal year ending March 31, 2027 ("Fiscal 2027"). Silvercorp expects to release its Fiscal 2026 audited financial results on Monday, May 25, 2026, after market close.
Q4 Fiscal 2026 Operational Highlights
Record revenue of approximately $147.4 million, an increase of 96% over the same quarter last year ("Q4 Fiscal 2025");
Silver production of 1.5 million ounces, a decrease of 11% over Q4 Fiscal 2025; silver equivalent (only silver and gold)i production of 1.6 million ounces, a decrease of 17% compared to 1.9 million ounces in Q4 Fiscal 2025;
Lead production of 14.0 million pounds, a decrease of 14% over Q4 Fiscal 2025;
Zinc production of 3.9 million pounds, a decrease of 12% over Q4 Fiscal 2025;
Kuanping mine construction continued, with 1,335 metres ("m") of ramp development, 313 m of exploration tunneling and 1,625 m of drilling completed;
El Domo mine construction continued to advance under enhanced water and soil conservation measures during the heavy rainfall season, with the haul roads and the ore stockpile shed completed; and
MSCI ESG rating was upgraded from A to AA.
Fiscal 2026 Operational Highlights
Record revenue of approximately $438.1 million, an increase of 47% over Fiscal 2025;
Ore processed of 1,475,512 tonnes, up 12% over Fiscal 2025, and beat the high end of 1,369,000 tonnes in the Company's annual production guidance;
Silver production of approximately 6.8 million ounces, a 2% decrease over Fiscal 2025; gold production of approximately 8,723 ounces, a 16% increase over Fiscal 2025, and silver equivalent of 7.5 million ounces, even with Fiscal 2025; and
El Domo mine completed the site preparation for the processing plant, 5,000 square metre ROM ore shed, construction camp, internal roads, including roads to the TSF construction site, and orders of major equipment.
Q4 Fiscal 2026 Operational Results
The Ying Mining District processed 311,677 tonnes of ore, up 2% over Q4 Fiscal 2025. Approximately 1.4 million ounces of silver, 2,492 ounces of gold, or 1.5 million ounces of silver equivalent, plus 12.9 million pounds of lead, and 1.4 million pounds of zinc were produced, representing production decreases of 20%, 11%, 18%, 17%, and 30% in gold, silver, silver equivalent, lead and zinc, respectively, over Q4 Fiscal 2025. Lower production was due to lower head grades associated with an increase in shrinkage mining. A total of 48,492 m of drilling and 13,239 m of exploration tunneling were completed in Q4 Fiscal 2026.
The GC Mine processed 48,840 tonnes of ore, up 17% over Q4 Fiscal 2025. Approximately 0.1 million ounces of silver, 1.1 million pounds of lead, and 2.5 million pounds of zinc were produced, representing increases of 3%, 51% and 4% in silver, lead and zinc over Q4 Fiscal 2025. A total of 6,050 m of drilling and 1,393 m of exploration tunneling were completed in Q4 Fiscal 2026.
Q4 Fiscal 2026
Q4 Fiscal 2025
Ying Mining
District
GC
Consolidated
Ying Mining
District
GC
Consolidated
Silver-lead Ore Processed (tonnes)
279,627
48,840
328,467
265,199
41,760
306,959
Silver (grams/tonne)
161
52
198
61
Lead (%)
2.2
0.9
2.9
0.9
Zinc (%)
0.4
2.6
0.5
2.9
Gold Ore Processed (tonnes)
32,050
—
32,050
39,025
—
39,025
Gold (grams/tonne)
1.1
—
1.4
—
Silver (grams/tonne)
54
—
62
—
Lead (%)
0.9
—
0.7
—
Total Ore Processed (tonnes)
311,677
48,840
360,517
304,224
41,760
345,984
Recovery Rates
Silver (%)
95.0
86.3
94.2
83.7
Gold (%)*
90.8
—
91.7
—
Lead (%)
93.2
93.5
92.3
87.4
Zinc (%)
63.9
90.6
67.3
90.3
Metals Produced
Silver (million ounces)
1.4
0.1
1.5
1.6
0.1
1.6
Gold (ounces)
2,492
—
2,492
3,110
—
3,110
Silver equivalent (million ounces)
1.5
0.1
1.6
1.9
0.1
1.9
Lead (million pounds)
12.9
1.1
14.0
15.6
0.7
16.3
Zinc (million pounds)
1.4
2.5
3.9
2.0
2.4
4.4
Metals Sold
Silver (million ounces)
1.4
0.1
1.5
1.5
0.1
1.6
Gold (ounces)
2,623
—
2,623
3,465
—
3,465
Lead (million pounds)
12.8
0.8
13.6
15.5
0.8
16.3
Zinc (million pounds)
1.4
2.4
3.9
2.1
2.4
4.5
*Only representing the gold recovery rate for Gold Ore.
Fiscal 2026 Operational Results
At the Ying Mining District, 1,188,459 tonnes of ore were processed, up 17% over Fiscal 2025. A total of 6.3 million ounces of silver, 8,723 ounces of gold, or 7.0 million ounces of silver equivalent, 55.1 million pounds of lead and 6.6 million pounds of zinc were produced, representing an increase of 16% in gold and decreases of 1%, 1%, 3% and 23% in silver, silver equivalent, lead and zinc, respectively, over Fiscal 2025.
At the GC Mine, 287,053 tonnes of ore were processed, representing a decrease of 4% over Fiscal 2025. A total of 0.5 million ounces of silver, 5.2 million pounds of lead, and 15.1 million pounds of zinc were produced, representing an increase of 3% in zinc, and decreases of 11% and 2% in silver and lead, respectively, over Fiscal 2025.
Year ended March 31, 2026
Year ended March 31, 2025
Ying Mining
District
GC
Consolidated
Ying Mining
District
GC
Consolidated
Silver-lead Ore Processed (tonnes)
1,066,970
287,053
1,354,023
927,171
299,036
1,226,207
Silver (grams/tonne)
193
59
225
67
Lead (%)
2.5
0.9
3.0
0.9
Zinc (%)
0.4
2.7
0.6
2.5
Gold Ore Processed (tonnes)
121,489
—
121,489
86,488
—
86,488
Gold (grams/tonne)
1.3
—
