Silvercorp Update
Silvercorp
Second Quarter Dividend - CAD$0.02
VANCOUVER,
British Columbia � November 17, 2008 � Silvercorp Metals Inc. (�Silvercorp�) China's largest
primary Silver producer, provided a reminder of upcoming events:
Payment of Quarterly
Dividend of CAD$0.02 � January 21, 2009
Silvercorp�s second quarter
dividend of CAD$0.02 per share will be paid on January 21, 2009 to
shareholders of record at the close of business on December 31, 2008. The
declaration and amount of any future dividends will be at the discretion of
the Board of Directors and may be adjusted in the future based on
fluctuations in metal prices and cash flows.
Notice of
Clarification
As stated in the
Company�s Management Discussion and Analysis the total production cost and
total cash production cost for silver adjusted for by-product credits
increased to negative $0.06 and negative $2.65 per ounce respectively. The
Company�s press release of November 13, 2008 incorrectly shows the total
production cost per ounce of silver and total cash cost per ounce of silver
as negative $0.91 and negative $3.50.
About Silvercorp Metals Inc.
Silvercorp Metals Inc., China�s largest primary silver producer, is
engaged in the acquisition, exploration, and development of silver related
mineral properties focusing in the People's Republic of China
("China"). Silvercorp Metals Inc. is operating and developing four
highly profitable silver-lead-zinc mines at the Ying Mining Camp, Henan
Province, China. Silvercorp is also applying for a mining permit for
the newly acquired 95% owned GC/SMT property to profitably mine and produce
silver, lead and zinc metals in Guangdong Province, China. In addition,
Silvercorp is also exploring the 82% owned Na-Bao Polymetallic Project in
Qinghai Province, China. The Company's common shares are included as a
component of the S&P/TSX Composite, and the S&P/TSX Global Mining
Indexes.
For further information:
SILVERCORP METALS INC. Rui Feng, Chairman/CEO & Lorne Waldman,
Corporate Secretary Phone:(604) 669-9397, Toll Free Phone: 1-888-224-1881
Fax: (604) 669-9387, Email: info@silvercorp.ca
,
Website: www.silvercorp.ca
The information posted in news releases was accurate at the time of
posting, but may be superseded by subsequent news releases.
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