Silvercorp Metals Inc. Corporate Presentation October 23, 2017

1. Corporate Presentation
October 23, 2017
SVM:TSX/NYSE AMERICAN

2. FORWARD LOOKING STATEMENTS
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995:
Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to those
with respect to the price of silver, lead and zinc, the possibility, timing and amount of estimated future production, costs of production,
reserve determination and reserve conversion rates involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievement of Silvercorp to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to
international operations, risks related to Chinese government issuance of mining and related development permits, risks related to joint
venture operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of silver, lead and zinc, as well as other Risk Factors.
Although Silvercorp has attempted to identify important factors that could cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements.
The shares of Silvercorp Metals Inc. trade on the Toronto Stock Exchange (TSX: SVM) and NYSE American (NYSE American: SVM). The
TSX and NYSE have not approved or disapproved the form or content of this presentation.
Cautionary Note To U.S. Investors Concerning Estimates Of Measured, Indicated And Inferred Resources
This presentation uses the terms “Measured”, “Indicated” and Inferred” Resources. U.S. investors are advised that while such terms are
recognized and required by Canadian regulations, the Securities and Exchange Commission does not recognize them. “Inferred
Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It
cannot be assumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules,
estimates of Inferred Resources may not form the basis of feasibility or other economic studies. U.S. investors are cautioned not to
assume that all or any part of Measured or Indicated Resources will ever be converted into reserves. U.S. investors are also cautioned
not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.
2SVM:TSX/NYSE AMERICAN

3. SVM:TSX/NYSE AMERICAN 3
Ying Mining District, Henan Province
FY2017: 5.9Moz Silver
FY2017: 69.3Mlbs Lead+Zinc
GC Project, Guangdong Province
FY2017: 0.6Moz Silver
FY2017: 19.5Mlbs Lead+Zinc
XHP Project
Henan Province
Reserves & Resources
1,2,3
Silver
(Moz)
Lead
(Kt)
Zinc
(Kt)
Proven & Probable
Reserves
113.5 523.1 296.0
Measured & Indicated
Resources
158.3 731.5 449.7
Inferred Resources 108.7 521.9 327.1
1 Feb. 2017- Excludes BYP and XHP Resources.
2 M&I, Inclusive of Reserves
3 Excludes Gold Equivalent
CHINA’S PREMIER SILVER PRODUCER
BYP Mine,
Hunan Province
(On Care and Maintenance)
Historical Production (April 2006- March 2017)
Silver: 52.6 Million Ounces
Lead+Zinc: 773 Million lbs
Net Profit: US$360 million
Fiscal 2017 (April 2016-March 2017)
Silver: 6.5 Million Ounces
Lead+Zinc: ~89 Million lbs
Net Profit: US$43 million
Operating Cash flow: US$79 million
>15 year mine life remaining

4. PROVEN TRACK RECORD PRODUCTION : 52.6 MILLION OUNCES SILVER
SVM:TSX/NYSE AMERICAN 4
*Silvercorp’s fiscal year is ended on March 31

5. PROVEN TRACK RECORD PRODUCTION: 773 MILLION POUNDS LEAD AND ZINC
SVM:TSX/NYSE AMERICAN 5
*Silvercorp’s fiscal year is ended on March 31

6. STRONG FINANCIAL PERFORMANCE
SVM:TSX/NYSE AMERICAN 6
▸ Cash + short-term
investments:
US$102.1 Million (as
at June 30, 2017)
▸ Reinstatement of
dividend
US$0.02/year
▸ No Receivables
(Smelters pay for
concentrate in
advance)
▸ No Debt
*Silvercorp’s fiscal year is ended on March 31

7. HIGH PROFIT MARGIN SILVER PRODUCER
SVM:TSX/NYSE AMERICAN 7

8. SILVER PRICE IMPACTS REVENUE PER TONNE ORE
SVM:TSX/NYSE AMERICAN 8

9. LEAD & ZINC PRICE INCREASE IMPACTS REVENUE MIX
SVM:TSX/NYSE AMERICAN 9
▸ GC Project
contributed
increased revenue
from Lead and Zinc
since Q3 2014
▸ Recent appreciation
of Lead and Zinc
metal prices has
contributed
Lead+Zinc revenue
approaching to 50%
73%
69%
60%
58%
63%
58%
56%
59%59%
62%61%
50%
56%
53%
25%
35%
45%
55%
65%
75%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2014 2015 2016 2017
Sales Mix by Metals
Lead and Zinc sales percentage
Silver and Gold sales percentage

10. IMPROVING HEAD GRADES AT THE KEY ASSET
SVM:TSX/NYSE AMERICAN 10

11. ROBUST NET REALIZED LEAD AND ZINC SELLING PRICE
SVM:TSX/NYSE AMERICAN 11
 London Metal Exchange Lead Spot Selling Price on September 22, 2017
was $1.12/lb
 Silvercorp Net Realized Lead Selling Price on September 22, 2017 was
$1.18/lb
SHMET Lead Price (September 22, 2017) 21,050 RMB/mt
Smelter Deduction (-) 1,300 RMB/mt
Value Added Tax at 17% 2,870 RMB/mt
Net Realized Lead Selling Price/RMB/mt 16,880 RMB/mt
Net Realized Lead Selling Price/RMB/lb (1mt=2202 lb) 7.672
Net Realized Lead Selling Price/US$/lb (1US$=6.5RMB) $1.18

12. COMPARISON WITH PEERS: FREE CASH FLOW PER SHARE AND MULTIPLES
SVM:TSX/NYSE AMERICAN 12

13. COMPARISON WITH PEERS: COST
SVM:TSX/NYSE AMERICAN 13
* All-in sustaining cost per ounce of silver, net of by-product credits.

14. COMPARISON WITH PEERS: ROE
SVM:TSX/NYSE AMERICAN 14

15. COMPARISON WITH PEERS: GROSS PROFIT MARGIN
SVM:TSX/NYSE AMERICAN 15

16. GROWTH： GROW SHARE OUTSTANDING OR FREE CASH FLOW?
SVM:TSX/NYSE AMERICAN 16
*Free cash flow=operating cash flow-capital expenditures-capital lease payment

17. ADOPT NEW INFORMATION TOOL “ENTERPRISE BLOG” IN OPERATION
Improvement in the head grades of metals can be attributed in part to an internal
“Enterprise Blog” (EB) system in the management of Mine Production and Safety
Information.
“EB” system is an internet social media system that makes the collection, distribution and
flow of the work related knowledge and information easy and transparent for parties at
different locations.
▸ Each of the mining stopes, development faces, or equipment is assigned a “blog” name.
▸ Daily onsite inspection results of different workplaces listed in “check list tables” contain
structured data with supporting photos which are “posted” on different “blogs”.
▸ Different levels of the management team can access to the daily “blogs” for each
workplace instantly once posted.
▸ Records of a management person’s access to the “blogs” will make related parties
accountable.
SVM:TSX/NYSE AMERICAN 17
REDUCES DILUTION & IMPROVES SAFETY

18. ENTERPRISE BLOG: IMPROVING DILUTION AND SAFETY
SVM:TSX/NYSE AMERICAN 18
This supporting photo posted by an
onsite technician clearly shows the CO
reading for the stope is less that 24
ppm as required by the government.
This supporting photo
posted by frontline
technicians shows an
inspected stope with
clearly marked ore
boundaries and drill
hole locations.

19. ENTERPRISE BLOG: A PRODUCTIVITY TOOL
Benefits of the “Enterprise Blog”
▸ Information collection, distribution, retrieval, and
site monitoring becomes instantly transparent.
▸ Information and data from frontline technicians or
engineers freely flows throughout layers of the
management structure.
▸ Structured data format provides statistics for key
management info.
SVM:TSX/NYSE AMERICAN 19
▸ Management has the directive, pressure, and tools to make prompt and
more accurate decisions.
▸ The system will also record if a management person has accessed the “blog”
to read or comment.
▸ Collaboration becomes easy, KPI assessments are fair and timely, and each
person is accountable for his work.

20. YING MINING DISTRICT IN HENAN: SILVERCORP’S FLAGSHIP ASSET
▸ Flagship Ying District consists of underground mines (SGX, TLP, LM, and HPG) –over
200 veins identified
▸ 68.74km2 land package
SVM:TSX/NYSE AMERICAN 20
▸ On-going drilling has increased
mine life to 20 years after 10 year’s
production
▸ produced 50.7 million Oz silver
plus 711.5 million lbs of Lead+Zinc
since 2006
▸ Two centralized mills with 3,200
t/d capacity
▸ 6 smelters within 200km of the
district
▸ Opportunity for further acquisitions
in local area

21. GC MINE IN GUANGDONG: THE SECOND MINE
Our Newest Mine
▸ Commercial production commenced in
2014
▸ Underground silver/zinc mine
▸ Excellent infrastructure and access
▸ Profitable operations
SVM:TSX/NYSE AMERICAN 21
Main Access Ramp

22. BYP GOLD MINE : PREPARING FOR PRODUCTION
Status:
▸ Suspended mining operations in
August 2014
▸ Capital requirements for
upgrades to sustain ongoing
production are being considered
▸ Continues to review alternatives
for this project
▸ To bring it back to production
may cost US$10 million
SVM:TSX/NYSE AMERICAN 22
500 tpd Mill at the BYP Mine

23. GROWING RESERVES & RESOURCES
SVM:TSX/NYSE AMERICAN 23
1 Excludes Lead and Zinc. Gold was converted to Silver equivalent at a rate of 65:1.
2 Measured & Indicated Resources Inclusive of Reserves. See Appendix III, IV and V for breakout of Measured, Indicated and Inferred, Proven and Probable categories.
18.9
40.1
51.9
81.1
102.0 98.8
122.0
148.2
159.4
180.5
64.4
59.0
98.5
102.8
115.3
-
20
40
60
80
100
120
140
160
180
200
2005 2006 2007 2008 2009 2010 2011 2012 2014 2017
OuncesofSilverandSilverEq.*(Millions)
Reserves & Resources: FY2005 - FY2017 1,2
(not including 50Moz Ag production 2005-2016)
M&I
P&P Reserves

24. STEADY CASH FLOW TO SUPPORT “QUALITY GROWTH”
Achievements:
▸ Steady operation with reduced dilution and much improved head grade
▸ Production cost in per tonne ore and per ounce silver are steady and down
▸ Cash flow of US$79 million for fiscal 2017, expecting stable or increase for fiscal 2018
▸ Better organization with incentive plan and KPI assessment mechanism at operations
Growth:
▸ Grow existing assets organically through land expansion and drilling
▸ Bring BYP back to production
▸ Acquire high grade exploration project with resource defined that can quickly be
brought into profitable operation with reasonable capital expenditures
▸ Acquired ~31% equity interest in New Pacific Metals Corp. (TSX-V: NUAG)
24SVM:TSX/NYSE AMERICAN

25. NEW PACIFIC’S MAIN ASSET: SILVER SAND PROJECT IN BOLIVIA
25SVM:TSX/NYSE AMERICAN
 Six significant mineralization zones
(Zones I, II, III, IV, IX, and X)
 Zone I mineralization extending over
1,600 m long, up to 125 m in width,
and 350 m in depth, as defined by
surface channel samples and 7 drill
holes
 A drill program of 30,000 - 40,000 m
over 16 exploration sections 100 m
apart to define the Zone I over 1,600
m along the extension direction
 5 drill holes (~400 m/hole) for 2000 m
per Exploration Section
 Drill some “Glory” holes to 800 m
depth to test the Zone I’s extension
depth

26. NEW PACIFIC’S MAIN ASSET: SILVER SAND PROJECT IN BOLIVIA
26SVM:TSX/NYSE AMERICAN
Historical and Confirmation Core Drill Hole Intercepts:
ZK6601: 191.3 m grading 245 g/t silver
ZK5401: 195.3 m grading 168 g/t silver
ZK4601: 155.2 m grading 179 g/t silver
DSS6601: 102 m grading 197 g/t silver (scissor hole)
DSS6602: 133.5 m grading 226 g/t silver (twin hole)
DSS5401: 187.5 m grading 162 g/t silver (twin hole)
DSS4601: 108 m grading 86 g/t silver (twin hole)
CIL Cyanidation: head grade 384.05 g/t, grinding to 85.32% <200 mesh (NaCN
costs 3.5kg per tonne of ore), silver recovery 92.73% with tailings grading 27.92 g/t

27. FY 2018 PRODUCTION GUIDANCE
SVM:TSX/NYSE AMERICAN 27
FY2018 Guidance + 3 Month Actual*
Project
Ying Mining District GC Mine Grand Total
FY2018E
3 Month
Actual
FY2018E
3 Month
Actual
FY2018E
3 Month
Actual
Ore processed (tonnes) 650,000 164,959 250,000 65,944 900,000 230,903
Head Grades
Silver (gram per tonne) 275 304 90 98
Lead (%) 4.2 4.6 1.5 1.6
Zinc (%) 0.9 0.8 2.6 2.7
Metal Sales
Silver (million ounces) 5.3 1.3 0.4 0.2 5.7 1.5
Lead (million pounds) 56 13.8 7.1 2.1 63.1 15.9
Zinc (million pounds) 6 0.8 12.3 4.2 18.3 5
* Current fiscal year ending March 31, 2018

28. FY2018 CAPITAL EXPENDITURE GUIDANCE
SVM:TSX/NYSE AMERICAN 28
(CURRENT FISCAL YEAR ENDING MAR 31, 2018)*
Mines/
Projects
Mine Development and Tunneling**
Facilities/
Land Usage/
Equipment***
Total US$million
Amount
(US$million)
work
(meters)
Amount
(US$million)
FY2018
3 Month
Actual
FY2018
3 Month
Actual
FY2018
3 Month
Actual
FY2018
3 Month
Actual
Ying Mining District 19.5 5.2 66,000 18,890 2.0 0.8 21.5 6.0
GC Mine 0.5 0.1 300 158 0.5 0.02 1.0 0.12
Total Budget 20.0 5.3 66,300 19,048 2.5 0.82 22.5 6.12
* Includes sustaining capital
** For FY2018, total tunneling at Ying Mining District is budgeted at 83,000 meters, of which 66,000 meters will be capitalized and 17,000 meters will be expensed.
Total tunneling at GC mine is budgeted at 10,000 meters, of which 300 meters will be capitalized and 9,700 meters will be expensed.
*** For FY2018, total drilling at Ying Mining District and GC mine is budgeted at 76,000 meters and 17,000 meters. All of the drilling will be expensed.
FY 2018 guidance as of Feb. 2, 2017.

29. APPENDICES
SVM:TSX/NYSE AMERICAN 29

30. APPENDIX I:
SVM:TSX/NYSE AMERICAN 30
OWNERSHIP AND COVERAGE
Ownership
Analyst Coverage
Chris Thompson Raymond James
Top 10 Institutional Investors % O/S
1 Van Eck Associates Corporation 6.25
2 O'Shaughnessy Asset Management LLC 2.19
3 Old Mutual Global Investors (UK), LTD 1.75
4 AMG Fondsverwaltung AG 1.19
5 Global X Management Company, LLC 1.14
6 AXA Investment Managers (U.K.), LTD 0.90
7 Stabilitas GmbH 0.89
8 DZ Privatbank S.A. 0.89
9 TIAA-CREF Investment Management, LLC 0.86
10 Spark Investment Management, LLC 0.76
Source: BD Corporate August 2017 Data
Joe Reagor Roth Capital
Insiders
3.54%
Institutional
25.94%
Retail
70.52%

31. APPENDIX II
SVM:TSX/NYSE AMERICAN 31
MANAGEMENT & BOARD
Management
Rui Feng, Ph.D., Geology
Chairman and CEO, Director
Derek Liu, MBA, CGA, CPA
Chief Financial Officer
Luke Liu, M. Eng. PhD (Mining Eng.)
Vice President China Operations
Lorne Waldman, MBA, LL.B.
Senior Vice President
Board of Directors
Rui Feng Marina Katusa
Yikang Liu Paul Simpson
David Kong

32. APPENDIX III:
SVM:TSX/NYSE AMERICAN 32
SUMMARY OF SILVER RESERVES1
Project
Reserve
Category
Tonnes
(Million)
Average Grades Contained Metal Reserves
Ag (g/t) Pb (%) Zn (%) Ag (Moz) Pb (t) Zn (t)
Ying Mining
District
Proven 4.67 252 4.15 1.55 37.85 193,950 72,240
Probable 7.63 233 3.50 1.09 57.16 267,010 83,450
GC Project
Proven 0.46 199 1.12 3.18 3.00 5,200 14,800
Probable 4.29 113 1.33 2.93 15.50 56,900 125,500
Consolidated
Proven 5.13 40.85 199,150 87,040
Probable 11.92 72.66 323,910 208,950
Total 17.05 113.51 523,060 295,990
1. Table excludes HPG mine Proven reserves of 16,430 oz Au (470,000 tonnes grading 1.10 g/t Au) and HPG mine Probable reserves of 10,840 oz Au (290,000 tonnes grading 1.15 g/t Au)

33. APPENDIX IV:
SVM:TSX/NYSE AMERICAN 33
SUMMARY OF SILVER RESOURCES1
Project
Resource
Category
Tonnes
(Million)
Average Grades
Contained Metal Resources
(Inclusive of Reserves)
Ag (g/t) Pb (%) Zn (%) Ag (Moz) Pb (t) Zn (t)
Ying Mining
District
Measured 5.91 266 4.36 1.64 50.55 257,600 96,690
Indicated 10.40 233 3.59 1.13 77.76 373,000 117,660
Inferred 10.47 230 3.91 1.10 77.25 409,400 115,220
GC Project
Measured 0.59 230 1.41 3.33 4.40 8,400 19,800
Indicated 7.04 113 1.31 3.06 25.60 92,500 215,500
Inferred 7.96 123 1.41 2.66 31.40 112,500 211,900
Consolidated
Measured 6.50 54.95 266,000 116,490
Indicated 17.44 103.36 465,500 333,160
Inferred 18.43 108.65 521,900 327,120
1. Table excludes HPG mine Measured resources of 24,000 oz Au (690,000 tonnes grading 1.10 g/t Au), Indicated resources of 22,000 oz Au (630,000 tonnes grading 1.10 g/t Au),
Inferred resources of 39,000 oz Au (1,010,000 tonnes grading 1.21 g/t Au). Table also excludes BYP Au-Pb-Zn project resources (BYP resources summarized on Slide 28).

34. APPENDIX V:
SVM:TSX/NYSE AMERICAN 34
BYP MINE RESOURCE
CLASS
Cut-off Grades
(g/t)
Resource Grades
Contained Metal
Resources
(tonne) Au (g/t) Au (oz)
Indicated 1.0 3,510,000 2.59 292,000
Inferred 1.0 2,470,000 1.84 146,000
Mineral Resources for Gold Zones as of December 31, 2011:
CLASS
Cut-off Grades
(g/t)
Resource Grades
Contained Metal
Resources
(tonne) Pb(%) Zn(%) Pb (Tonnes) Zn (Tonnes)
Indicated 2.0 Pb+Zn 7,330,000 1.16 2.52 85,000 184,700
Inferred 2.0 Pb+Zn 7,550,000 0.85 2.75 64,200 207,600
Mineral Resources for Lead and Zinc Zones as of December 31, 2011:
Notes to Resource Tables:
1. CIM definitions apply
2. Mined tonnages deducted
3. Resources are rounded to nearest 10,000 tonnes
4. Cut-off grades are based on mining, processing and G & A costs of $38/t
5. Technical report filed on August 16, 2012 at www.sedar.com

35. ENDNOTES AND CAUTIONARY STATEMENTS
Alex Zhang, P. Geo., is the Qualified Person within the meaning of National Instrument 43-101 –
Standards Of Disclosure for Mineral Projects (“NI 43-101”) who supervised the preparation of the scientific
and technical information of Silvercorp included in this presentation.
For more information on Silvercorp’s projects, readers should refer to Silvercorp’s Annual Information Form,
dated June 16, 2016, and its technical reports, each of which is available on SEDAR at www.sedar.com.
The scientific and technical information related to Silvercorp’s projects included in this investor presentation
are derived from the technical reports entitled:
- NI 43-101 Technical Report for Ying Gold-Silver-Lead-Zinc Property, Henan Province, China, effective date
31 December, 2016 by P R Stephenson, P. Geo., H A Smith, P.Eng., A Ross, P. Geo, H Muller, Beng,
MAusIMM, CP
- Technical Report for BYP Gold-Lead-Zinc Property, Hunan Province, China, effective date 30 June, 2012,
prepared by P R Stephenson, P. Geo., H A Smith, P.Eng., A Riles, MAIG, M Molavi, P.Eng, D. Nussipakynova,
P.Geo., A. Ross, P.Geo.
- NI 43-101 Technical Report on the GC Ag-Zn-Pb Project in Guangdong Province, People’s Republic of
China, effective date 23 January, 2012, prepared by Brian O’Connor, P. Geo, Peter Mokos, MAusIMM (CP),
Alan Riles, MAIG, Owen Watson, MAusIMM (CP), Mo Molavi, P. Eng, Patrick Stephenson, P. Geo, AMC
Mining Consultants (Canada) Ltd.
35SVM:TSX/NYSE AMERICAN

36. SVM:TSX/NYSE AMERICAN 36
Suite #1378 - 200 Granville St., Vancouver, BC, Canada V6C 1S4
Tel: 604-669-9397
Fax: 604-669-9387
Toll-Free: 1-888-224-1881
HEAD OFFICE
Silvercorp’s disclosure documents are available from the System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com
SVM:TSX/NYSE AMERICAN
investor@silvercorp.ca
www.silvercorp.ca