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Corporate PresentationFebruary 1, 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 ResourcesThis 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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Investment Highlights

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Largest Primary Silver Producer in China Lowest cost highest margin producer:

– negative $5.48 /Ag oz* High Grade ore production + 300 g/t Ag* Strong Balance Sheet ~ $97M cash* 50M oz. Silver produced in 10 yrs. 736M lbs. Pb & Zn produced in 10 yrs. 15 years of mine life remaining Strong Operating Performance Canadian headquarters & Mining Practices Pays Dividend

*Fiscal Q3 FY2017 results

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China’s Largest Primary Silver Producer

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Reserves & Resources1

Silver (MOz)

Lead (Kt)

Zinc(Kt)

Proven & Probable Reserves 101.0 442.5 267.5

Measured & Indicated Resources2 137.3 613.1 408.0

Inferred Resources 91.9 358.0 286.8

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 ProvinceFY2017: 0.5Moz Silver* (9 months actual: 0.5Moz Silver)**

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

1 Sept. 2014- Excludes BYP Gold Mine Resource. See appendix III-V for breakout.

2 Inclusive of Reserves

China

XHP Project Henan

Province

*FY2017 Production Guidance**FY2017 9 Months Actual production

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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 $4.65 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 – Over 50 Million Ounces to Date

1. Gold converted to silver at a rate of 50:1; Silvercorp’s fiscal year ends March 31st

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

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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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Ying Mining District: Cost Control Efforts are Working

Cost cutting efforts have increased productivity and reduced dilution Head grade has improved to over 300 g/t An employee production profit sharing plan is encouraging more dilution control

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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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: 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.

: 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) -197 veins identified

Over 70km2 land package Extensive underground drilling has

maintained mine life at >15 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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225,000m of drilling and 128,000m of tunnelling between 2013 - 2016

Exploration Achieves Internal Growth at Ying Mining District

Expansion and definition of previous known Mineral Resource blocks.

New mineralization defined down-dip and along strike within known vein structures.

New mineralized parallel and splay structures discovered beside major structures.

New mineralized structures in less-explored areas in the Ying property.

An updated 43-101 resource is being prepared by AMC Consulting and expected in Q1 2107.

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GC Mine in Guangdong – Our Newest Mine

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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Reserve & Resource Growth

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1 Excludes Lead and Zinc. Gold was converted to Silver equivalent at a rate of 50:1.

2 Measured & Indicated Resources Inclusive of Reserves. See Appendix III, IV and V for breakout of Measured, Indicated and Inferred, Proven and Probable categories.

New Ying District NI43-101 expected

Q1/ 2017

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

• The first 9 months actual production has surpassed 9 month guidance by 23.7% for Silver and 19.7% for Lead and Zinc

Guidance 9 Months Actual of FY2017

Guidance 9 Months Actual of FY2017

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

ProjectYing Mining District GC Mine

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FY2018 Production Guidance

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

Silver (gram per tonne) 275 90

Lead (%) 4.2 1.5

Zinc (%) 0.9 2.6

Silver ('000 ounces) 5.3 0.4 5.7

Lead (million pounds) 56 7.1 63.1

Zinc (million pounds) 6 12.3 18.3

FY2018 Production Guidance

Head Grades

Metal Production

Project Ying Mining District GC Mine Grand Total

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• Total tunneling at Ying Mining District is budgeted at 69,000 meters, of which 55,000 meters will be capitalized and 14,000 meters will be expensed. Total tunneling at GC mine is budgeted at 8,400 meters, of which 1,100 meters will be capitalized and 7,300 meters will be expensed.

** Includes $7.2 million for transportation tunnel and haul road construction, and $5.0 million of mining right fees.

*** Total drilling at Ying Mining District and GC mine is budgeted at 62,000 meters and 8,300 meters, respectively. All of the drilling will be expensed.

Guidance as of Feb. 5, 2016.

Mines/Projects

Mine Development and Tunneling*

Facilities/ Land Usage/Equipment**

TotalUS$

millionAmount

(in million’s of US$)Work

(meters)Amount

(in million’s of US$)

Ying Mining District 16.7 55,000 13.5 30.2

GC Mine 0.5 1,100 0.5 1.0

Total Budget 17.2 56,100 14.0 31.2

FY2017 Capital Expenditure Guidance (current fiscal year ending Mar. 31,

2017)

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* 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.

** Total drilling at Ying Mining District and GC mine is budgeted at 76,000 meters and 17,000 meters, respectively. All of the drilling will be expensed.

Guidance as of Feb. 2, 2017.

Mines/Projects

Mine Development and Tunneling*

Facilities/ Land Usage/Equipment

TotalUS$

millionAmount

(in million’s of US$)Work

(meters)Amount

(in million’s of US$)

Ying Mining District 17.5 66,000 4.0 21.5

GC Mine 0.5 300 0.5 1.0

Total Budget 18.0 66,300 4.5 22.5

FY2018 Capital Expenditure Guidance (reduced guidance $10M from FY2017)

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Appendices

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Top 10 Institutional Investors – Firms and Funds % O/S

1 Van Eck Associates Corporation 12.942 Rafferty Asset Management LLC 7.293 Feng (Rui) 2.494 Global X Management Company

LLC 1.02

5 AMG Fondsverwaltung AG 0.846 Old Mutual Global Investors (UK) 0.777 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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1. Table excludes HPG mine Proven reserves of 16,900 oz Au (560,000 tonnes grading 0.94 g/t Au) and HPG mine Probable reserves of 12,200 00 oz Au (360,000 tonnes grading 1.05 g/t Au)2. For further information please refer to the Technical Report for Ying Gold-Silver-Lead-Zinc Property (filed September 2014) and the GC Technical Report (filed February 2012). All reports are available on SEDAR (www.sedar.com). 3. Rounding of some figures may lead to minor discrepancies in some totals4. Mineral reserves include consideration of mining dilution

Appendix III: Summary of Silver Reserves1,2,3,4

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 5.24 207 3.56 1.34 34.81 186,700 70,200

Probable 7.40 200 2.62 0.77 47.71 193,700 57,000

GC ProjectProven 0.46 199 1.12 3.18 3.0 5,200 14,800

Probable 4.29 113 1.33 2.93 15.5 56,900 125,500

Consolidated

Proven 5.70 37.81 191,900 85,000

Probable 11.69 63.21 250,600 182,500

Total 17.39 101.02 442,500 267,500

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1. Table excludes HPG mine Measured resources of 23,900 oz Au (660,000 tonnes grading 1.12 g/t Au), Indicated resources of 20,000 oz Au (500,000 tonnes grading 1.25 g/t Au), Inferred resources of 14,600 oz Au (430,000 tonnes grading 1.07 g/t Au). Table also excludes BYP Au-Pb-Zn project resources (BYP resources summarized on Slide 28). 2. For further information please refer to the revised Technical Report for Ying Gold-Silver-Lead-Zinc Property (filed September 2014) and the GC Technical Report (filed February 2012). All reports are available on*SEDAR (www.sedar.com). 3. Rounding of some figures may lead to minor discrepancies in some totals4. Resources are inclusive of resources converted in mineral reserves.

Appendix IV: Summary of Silver Resources1,2,3,4

Project Reserve Category

Tonnes(Million)

Head Grades Contained Metal Resources(Inclusive of Reserves)

Ag (g/t) Pb (%) Zn (%) Ag (Moz) Pb (t) Zn (t)

Ying Mining District

Measured 5.56 253 4.53 1.67 45.81 253,400 94,600Indicated 8.45 226 3.05 0.92 61.49 258,800 78,100Inferred 7.53 251 3.26 0.99 60.50 245,500 74,900

GC ProjectMeasured 0.59 230 1.41 3.33 4.4 8,400 19,800Indicated 7.04 113 1.31 3.06 25.6 92,500 215,500Inferred 7.96 123 1.41 2.66 31.4 112,500 211,900

ConsolidatedMeasured 6.15 50.21 261,800 114,400Indicated 15.49 87.09 351,300 293,600Inferred 15.49 91.90 358,000 286,800

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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:

CLASSCut-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 deducted3. Resources are rounded to nearest 10,000 tonnes 4. Cut-off grades are based on mining, processing and G & A costs of $38/t5. Technical report filed on August 16, 2012 at www.sedar.com

Appendix V: BYP Mine Resource

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Key Growth Catalysts 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 and Luke Liu, M. Eng. PhD Vice President China Operations are 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 1S4Tel: 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

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