TLP

Silvercorp Metals announced the results of its 2010 underground diamond drilling program at the southwest corner of the TLP mining permit area, Ying mining district, Henan, China. Highlights include hole ZKX1703 which intersected 7.51 m grading 925 g/t silver, 1.12% lead, including 2.57 m grading 1,461 g/t silver, 2.16% lead.

After a careful review of the recently completed technical report on the TLPLM project, the Company has decided to suspend TLP mine development and exploration to preserve capital due to current fragile market conditions and the lower grade nature of the project. Mining production capacity previously projected at 1,000 t/d by the end of June 2009 will therefore not be realized.

Significant results from tunnels and drill holes include 2.2m true width grading 1,118 g/t or (35.96 oz per tonne-oz/t) Ag, 24.33% Pb, 0.27% Zn and 2.10 g/t Au (gold) on the 800m elevation T2 vein and 0.70m true width grading 1,142 g/t or (36.73 oz/t) Ag, 4.09% Pb, 038% Zn and 0.76 g/t Au on the 725m elevation T3 vein.