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Corporate Presentation February 28, 2017

The Premier Silver Producer in China

OTC: SVMLF

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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). The TSX has 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.

Forward Looking Statements

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China’s Largest Primary Silver Producer

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Ying Mining District, Henan Province FY2017: 4.6Moz Silver* (9 months actual: 4.7Moz Silver)**

FY2017: 56Mlbs Pb/Zn* (9 months actual: 54.7Mlbs Pb/Zn)**

BYP Mine, Hunan Province

(On Care and Maintenance)

GC Project, Guangdong Province FY2017: 0.5Moz Silver* (9 months actual: 0.5Moz Silver)**

FY2017: 20.3Mlb Pb/Zn* (9 months actual: 18.2Mlbs Pb/Zn)**

China

XHP Project Henan Province

* FY2017 Production Guidance ** FY2017 9 Months Actual production

1 Feb. 2017- Excludes BYP Gold Mine Resource. See appendix III-V for breakout.

2 Inclusive of Reserves 3 Excludes Gold Equivalent

Reserves & Resources1,2,3

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

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9 Months Ended

December 31, 2016

(millions US$)

9 Months Ended

December 31, 2015

(millions US$)

Revenue $129.4 $88.5

Gross Profit $70.3

$29.8

Net Income $30.2

$7.9

Cash Flow from Operations $75.6 $27.5

Cash, equivalents & short-term investments: $97.4 Million, up $5.3 million from last quarter.

Bought back 4.0 million shares in the latest 12 months

Reinstatement of dividend $0.02/year

No Receivables (Smelters pay for concentrate in advance)

No Long-term Debt

Strong Balance Sheet

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Lowest cost Highest margin Silver Producer - Fiscal 2017 Nine Months Results

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Low cost producer of silver - cash cost of negative $2.88** per Ag ounce for 9 months of FY2017*

9 Months of FY2017 Sales Mix by Metal

* Nine months ended Dec. 31, 2016 * Peers- Nine months ended Sept. 30 2016 ** Net of by-product credits. AISCC of $3.96 per Oz

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Lowest cost Highest margin Silver Producer - Fiscal 2017 Q3 Results

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Low cost producer of silver - cash cost of negative $5.48** per Ag ounce for Q3 FY2017*

Q3 FY2017 Sales Mix by Metal

** Net of by-product credits. AISCC of $1.87 per Oz

* Last reported Quarter in 2016.

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Lowest All in Sustaining Costs

* SVM - Nine months ended Dec. 31, 2016 * Peers- Nine months ended Sept. 30 2016

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Lowest All in Sustaining Costs

* Last reported Quarter in 2016.

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IMPROVING HEAD GRADES

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Silver Production – 50 Million Ounces to Date

1. FY2017E: actual production for the first nine months + guidance figures for the remaining three months.

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1.9

4.0 4.2 4.6

5.3 5.6

5.0

3.9

4.6 4.4

5.5

0.5 0.6

0.6

-

1.0

2.0

3.0

4.0

5.0

6.0

7.0

FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017E

M

i

l

l

i

o

n

s

o

f

O

u

n

c

e

s

Ag Production – Actual and Forecast1 GC

Ying MiningDistrict

5.0 5.1

6.1E

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Lead+Zinc Production – Over 736 Million Pounds to Date

1. FY2017E: actual production for the first nine months + guidance figures for the remaining three months.

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Consolidated net profit per tonne

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Enterprise Blog (“EB”) is an enterprise wide internet social media system

introduced in September 2015 Head grade improvements can be significantly attributed to this internal EB system which manages Mine Production and Safety information. EB enhances the efficiency of information flow, its distribution and retrieval

EB information on all work related tasks is accessible and transparent for all parties at different

locations.

Each of the workplaces eg: mining stopes, development faces, or equipment is assigned a

“blog” name.

Daily onsite inspection results of different workplaces are listed in “check list tables” containing

structured data with supporting photos. Results from each workplace is required to be “posted” on its “blog”.

Different levels of management teams can access the daily “blog” for each workplace instantly once posted by onsite technicians.

Enterprise Blog: A Productivity Tool: Reduces Dilution & Improves Safety

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Enterprise Blog: A Productivity Tool: Reduces Dilution & Improves Safety

This supporting photo posted by 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 technician shows an inspected stope with clearly marked ore boundaries and drill hole locations.

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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.

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.

Enterprise Blog: A Productivity Tool: Reduces Dilution & Controls Costs

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Ying Mining District: Silvercorp’s Flagship Asset

Flagship Ying District consists of underground mines (SGX, TLP, LM, and HPG) –over 200 veins identified

68.74km2 land package

Extensive underground drilling has increased mine life to 20 years

Has produced over 48.2 million Oz silver since 2006

Two centralized mills with 3,200 t/d capacity

Producing silver-lead and zinc concentrates

6 smelters within 200km of the district

Opportunity for further acquisitions in local area

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GC Mine in Guangdong – Our Newest Mine

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Main Access Ramp

Initial production start 2014

Underground silver/zinc mine

Excellent infrastructure and access

Profitable operations

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BYP Gold Mine – a non-core asset

Status:

Suspended mining operations in August 2014

Currently it working to re-start the operation or other strategic options.

500 tpd Mill at the BYP Mine

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Growth of Remaining Reserves & Resources

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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

-

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40

60

80

100

120

140

160

180

200

2005 2006 2007 2008 2009 2010 2011 2012 2014 2017

Ou

nce

s o

f Si

lve

r an

d S

ilve

r Eq

.* (

Mill

ion

s)

Reserves & Resources: FY2005 - FY20171,2

(not including 50Moz Ag production 2005-2016)

M&I

P&P Reserves

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FY2017 Production Guidance (current fiscal year ending Mar 31, 2017)

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* The first 9 months has already surpassed the annual guidance by 2% for Silver

Guidance 9 Months Actual Guidance 9 Months Actual

Ore processed (tonnes) 610,000 530,160 250,000 220,767

Silver (gram per tonne) 260 305 109 94

Lead (%) 4.1 4.7 1.3 1.5

Zinc (%) 0.8 1.0 3.0 2.9

Silver ('000 ounces) 4.6 4.7 0.5 0.5

Lead (million pounds) 50.7 49.9 6.3 6.2

Zinc (million pounds) 5.3 4.8 14.0 12.0

Head Grades

Metal Production

FY2017 Production Guidance + 9 Month Actual

ProjectYing Mining District GC Mine

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FY2017-2018 Production Guidance

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FY2018 Production Guidance

Project Ying Mining District GC Mine Grand Total

FY2017 FY2018 FY2017 FY2018 FY2017 FY2018

Ore processed (tonnes) 610,000 650,000 250,000 250,000 860,000 900,000

Head Grades

Silver (gram per tonne) 260 275 109 90

Lead (%) 4.1 4.2 1.3 1.5

Zinc (%) 0.8 0.9 3.0 2.6

Metal Production

Silver ('000 ounces) 4.6 5.3 0.5 0.4 5.1 5.7

Lead (million pounds) 50.7 56 6.3 7.1 57.0 63.1

Zinc (million pounds) 5.3 6 14.0 12.3 19.3 18.3

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* For FY2018, total tunneling at Ying Mining District is budgeted at 93,000 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.

FY2017-2018 Capital Expenditure Guidance (current fiscal year ending Mar. 31, 2017)

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Mines/ Projects

Mine Development and Tunneling* Facilities/

Land Usage/ Equipment**

Total US$million

Amount (US$million)

work (meters)

Amount (US$million)

FY2017 FY2018 FY2017 FY2018 FY2017 FY2018 FY2017 FY2018

Ying Mining District 16.7 17.5 55,000 66,000 13.5 4.0 30.2 21.5

GC Mine 0.5 0.5 1,100 300 0.5 0.5 1.0 1.0

Total Budget 17.2 18.0 56,100 66,300 14.0 4.5 31.2 22.5

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Appendices

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Top 10 Investors % O/S

1 Van Eck Associates Corporation 12.93

2 Rafferty Asset Management LLC 7.29

3 Rui Feng 2.49

4 Global X Management Company LLC 1.02

5 AMG Fondsverwaltung AG 0.84

6 Old Mutual Global Investors (UK) 0.77

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Norges Bank Investment Management (NBIM)

0.73

8 Renaissance Technologies LLC 0.65

9 Stabilitas GmbH 0.60

10 Esposito Partners, LLC 0.54

Analyst Coverage

Chris Thompson Raymond James

Source: Thomson One February 2017 Data

Appendix I: Ownership and Coverage

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Board of Directors

Rui Feng Malcolm Swallow

Yikang Liu Paul Simpson

David Kong

Management

Rui Feng, Ph.D., Geology

Chairman and CEO, Director

Derek Liu, CGA, CPA Chief Financial Officer

Luke Liu, M. Eng. PhD (Mining Eng.) Vice President China Operations

Lorne Waldman, MBA, LL.B.

Senior Vice President

Alex Zhang, M. Eng., M.Sci., P. Geo.

Vice President, Exploration

Gordon Neal,

Vice President, Corporate Development

Appendix II: Management & Board

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Appendix III: Summary of Silver Reserves1

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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)

Project Reserve Category

Tonnes (Million)

Head 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

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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).

Appendix IV: Summary of Silver Resources1

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Project Reserve Category

Tonnes (Million)

Head Grades Contained Metal Reserves (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

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Mineral Resources for Gold Zones as of December 31, 2011:

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 Lead and Zinc 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

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

Appendix V: BYP Mine Resource

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Key Growth Catalysts

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Ying Mining District :

• More efficient and lower cost mining

• Reduced management overhead and greater incentives

• Longer term opportunity to increase mining capacity to match milling capacity

• Further near district acquisitions

GC Project:

• Commercial production underway

• Fine tuning operations to improve efficiencies and lower costs

• Continue exploration to expand resources

• Growth: • Grow existing assets organically through land expansion and drilling • Acquire under-explored, smaller-scale mining projects, ideally in Asia, with

resource growth potential • BYP

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Alex Zhang, P. Geo., Vice President of Exploration, 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, prepared July 29, 2014 by P R Stephenson, P. Geo., H A Smith, P.Eng., A Riles, MAIG, M Molavi, P.Eng

- NI 43-101 Technical Report on the BYP Gold-Lead-Zinc Property, Hunan Province, China, dated June 30, 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, dated January 23, 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.

Endnotes and Cautionary Statements

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Suite #1378 - 200 Granville St., Vancouver, BC, Canada V6C 1S4

Tel: 604-669-9397 | Fax: 604-669-9387 | Toll-Free: 1-888-224-1881

Email: investor@silvercorp.ca Website: www.silvercorp.ca

Head Office

Silvercorp’s disclosure documents are available from the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com

Contact Information

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