Silvercorp Metals Inc (NYSE American: SVM) has released an updated technical report for its Gaocheng silver-lead-zinc underground mine in Guangdong Province, China, showing a significant increase in measured and indicated mineral resources compared with its 2024 report.

The report, prepared by SRK Consulting China Ltd. under National Instrument 43-101 and effective December 31, 2025, estimates measured and indicated mineral resources of 18.3 million tonnes grading 65 grams per tonne silver, 0.91% lead, and 2.24% zinc. That represents a 59% increase in tonnes versus the June 2024 estimate, with contained silver up 23%, lead up 24%, and zinc up 25%.

Proven and probable mineral reserves were estimated at 6.2 million tonnes grading 63 g/t silver, 0.91% lead, and 2.23% zinc, a 25% increase in reserve tonnes from the prior report. Contained silver, lead, and zinc in reserves declined by 4%, 7%, and 2%, respectively. Inferred resources fell to 7.36 million tonnes, with contained silver down 32% from the 2024 estimate.

The life-of-mine plan projects annual production rising from approximately 345,000 tonnes in fiscal 2026 to around 370,000 tonnes from fiscal 2029 through 2041, before declining in the final two years ending in fiscal 2043. Annual silver production is projected at approximately 0.7 million ounces. The report notes the mine life could be extended beyond 2044 if a tailings storage facility expansion is completed.

At an 8% discount rate, the projected post-tax net present value attributable to Silvercorp is $100.3 million, based on its 99% interest in the project.

The full technical report is expected to be filed on SEDAR within 45 days of the announcement.