Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) announced a normal course issuer bid commencing Sept. 21, 2026, to repurchase up to 8,848,585 common shares, representing approximately 4% of the 221,214,642 shares issued and outstanding as of Sept. 8, 2026.

The program will expire on Sept. 20, 2027. Purchases will be made at prevailing market prices through the TSX, NYSE American, and alternative trading systems in Canada and the United States. All shares acquired under the program will be canceled.

Daily purchases on the TSX are capped at 261,176 shares, equal to 25% of the average daily trading volume over the previous six completed calendar months. This limit does not apply to purchases made on U.S. alternative trading systems.

The new program follows the 2025 NCIB, which ran from Sept. 19, 2025, to Sept. 18, 2026, and authorized the repurchase of up to 8,747,245 shares. Silvercorp did not purchase any shares under that prior program.

According to the company's statement, the repurchase program is intended to provide flexibility if market conditions result in the shares trading below the value of the company's mining and corporate assets. The company noted it may discontinue purchases at any time, subject to applicable regulatory requirements, and that no assurance can be given as to the precise number of shares that will ultimately be repurchased.