Silvercorp Provides Positive El Domo Legal Update and Announces Repayment of Wheaton Early Deposit

Core Viewpoint - The Provincial Court of Bolivar in Ecuador dismissed an appeal regarding the El Domo project, allowing Silvercorp's subsidiary to continue construction, while also announcing the repayment of funds drawn by Adventus from Wheaton Precious Metals [1][2]. Group 1: Legal Developments - The Court affirmed that the Ministry of Environment, Water, and Ecological Transition of Ecuador properly fulfilled its environmental consultation obligations before issuing an environmental license for the El Domo project [2]. - The dismissal of the appeal was supported by the Attorney General's Office, Curimining, and over 800 individuals who participated as supporting third parties [2]. Group 2: Financial Transactions - As of September 30, 2024, Wheaton had advanced a total of $13.25 million under the precious metals purchase agreement, requiring Adventus to deliver approximately 92.3 ounces of gold per month [3]. - The repayment of the $13.25 million allows Silvercorp to access the full $175.5 million cash contribution under the PMPA during construction, subject to certain conditions [4]. Group 3: Company Overview - Silvercorp is a Canadian mining company focused on producing silver, gold, lead, and zinc, with a strategy aimed at generating free cash flow, organic growth through exploration, and a commitment to responsible mining and ESG [5]. - Salazar Resources is focused on exploration and development in Ecuador, with a strategy to create value through discovery and community engagement, holding interests in multiple projects [6].