VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 02/09/12 — Silvercorp Metals Inc. („Silvercorp“ or the „Company“) (TSX: SVM)(NYSE: SVM) today announced that its Board of Directors has declared its third quarter fiscal 2012 dividend of CAD$0.025 per share to be paid on or before April 21, 2012 to shareholders of record at the close of business on March 31, 2012. Today-s declared quarterly dividend is the second Silvercorp has announced since increasing its dividend by 25% from the previously paid CAD$0.02. The dividends are considered eligible dividends for Canadian tax purposes.
The Company first began paying dividends in 2007 with an annual dividend of $0.05.
About Silvercorp Metals Inc.
Silvercorp Metals Inc. is engaged in the acquisition, exploration, development and mining of high-grade silver-related mineral properties in China and Canada. Silvercorp is the largest primary silver producer in China through the operation of the four silver-lead-zinc mines at the Ying Mining District in the Henan Province of China. Silvercorp recently acquired the XBG and XHP silver-gold-lead-zinc mines nearby the Ying Mining District in Henan Province, further consolidating the region. Silvercorp has commenced production at its second production foothold in China, the BYP gold-lead-zinc project in Hunan Province, and is currently constructing the mill and related facilities in preparation for mining at the GC silver-lead-zinc project in Guangdong Province. In Canada, Silvercorp is preparing an application for a Small Mine Permit for the Silvertip high grade silver-lead-zinc mine project in northern British Columbia to provide a further platform for growth and geographic diversification. The Company-s shares are traded on the New York Stock Exchange (symbol: SVM) and Toronto Stock Exchange (symbol: SVM) and are included as a component of the S&P/TSX Composite and the S&P/TSX Global Mining Indexes.
Contacts: Silvercorp Metals Inc. Rui Feng Chairman/CEO (604) 669-9397, Toll Free Phone: 1-888-224-1881
Silvercorp Metals Inc. Lorne Waldman Corporate Secretary (604) 669-9397, Toll Free Phone: 1-888-224-1881 (604) 669-9387 (FAX)
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