Silvercorp Metals Announces Updated Mineral Resource Estimate for Condor Project in Ecuador

Silvercorp Metals Inc. has announced an updated mineral resource estimate for its Condor Project in Ecuador, highlighting the significant high-grade underground potential of the Camp and Los Cuyes deposits. The comprehensive estimate, prepared by SRK Consulting (Canada) Inc., reveals total underground mineral resources of 3.17 million tonnes in the indicated category and 12.1 million tonnes in the inferred category. These resources contain 0.37 million and 1.50 million gold equivalent ounces respectively, calculated at a cutoff grade of 2.2 g/t AuEq.

The substantial resource update represents a critical milestone in Silvercorp's strategic initiative to reposition the Condor Project as a high-grade underground gold operation. This development leverages Ecuador's rich mineral resources and demonstrates the country's growing importance in the global mining landscape. The company is currently executing an extensive 3,500-metre drill program specifically designed to expand the known mineralization zones, which could potentially increase the project's resource base and economic viability.

A Preliminary Economic Assessment for an underground operation is expected to be completed by the end of 2025, providing crucial technical and economic parameters for project development. Concurrently, the company's El Domo Project is advancing toward a targeted production start in 2026, creating potential operational synergies across Silvercorp's Ecuadorian portfolio. For additional information about these developments, visit https://ibn.fm/J4HYK.

The updated resource estimate carries significant implications for both Silvercorp Metals and Ecuador's mining industry. For Silvercorp, the substantial gold equivalent ounces across both indicated and inferred categories provide a solid foundation for future project development and potential reserve conversion. The high-grade nature of the deposits suggests favorable economics for underground mining operations, which typically offer higher grades and lower environmental footprints compared to open-pit alternatives.

For Ecuador, this announcement reinforces the country's position as an emerging mining jurisdiction with substantial mineral potential. The successful advancement of projects like Condor could attract additional investment to Ecuador's mining sector, contributing to economic development and job creation. The timing of this resource update is particularly important as global gold demand remains strong and mining companies seek new high-grade deposits to replace depleting reserves.