Ying Mining District

Underground silver-lead-zinc mining district in Henan Province, China. Comprises seven mines: SGX (flagship), HZG (~5 km south of SGX), TLP (11 km southeast of SGX), HPG (silver-gold-lead-zinc, northeast of SGX), LME (~12 km southeast of SGX), LMW (~2.4 km west of LME), and DCG. Silvercorp holds ~77.5% direct interest plus 80% beneficial interest in HPG/LME via Henan Mineral Resources Group. Yuelianggou Mining License (SGX, HZG) renewed Oct 8, 2024 for 11 more years to Sep 24, 2035 with capacity increase to 500,000 tpa. New production line expanding Ying total milling capacity to >1.3 Mtpa to accommodate Kuanping mine. November 2022 Technical Report by AMC Mining Consultants; projects ~89 Moz Ag over 14-year LOM. Reserves at $1,800/oz Au, $21/oz Ag, $1.00/lb Pb, $1.10/lb Zn; exchange 7.00 RMB/USD.