Tailings Storage Facility No. 3 and New 1,500 tonne per day Mill Expansion Completed and in Operation at Ying Mine, China

Core Viewpoint - The company is advancing its operations at the Ying site with the construction of TSF No. 3 and a new flotation production line, which are expected to enhance its milling capacity and operational efficiency over the coming years [1][3][6]. Group 1: TSF No. 3 Operations - The company is currently operating three Tailings Storage Facilities (TSFs) at Ying, with TSF No. 1 being closed and decommissioned, and TSF No. 2 having six years of life remaining [1]. - TSF No. 3 will support an expanded operating rate of 1.3 million tonnes of ore per year over 12 years, with a total storage capacity of 19.21 million cubic metres [1]. - The first phase of TSF No. 3 was constructed for approximately US$28 million, which is under the original budget of $38 million [2]. Group 2: New Flotation Production Line - A new 1,500 tonnes per day (tpd) flotation production line is being constructed at Ying's No. 2 Mill, with a completion date expected by Q4 2024 and a cost of $7.2 million [3]. - The production line is designed to produce silver-lead, zinc, and copper concentrates, as well as gold gravity concentrate, achieving a capacity of 1,700 tpd after one month of operation [5]. - With the addition of this new production line, the total milling capacity at Ying is projected to exceed 1.3 million tonnes per year, accommodating increased mining capacity and future production from the nearby Kuanping mine [6]. Group 3: Infrastructure and Safety Measures - The construction of TSF No. 3 includes various safety and infrastructure components, such as a non-contact water dam, discharge tunnels, and a real-time monitoring system for dam stability [8]. - The facility will undergo a three-month test run for safety and quality assessment by the Department of Emergency Response of Henan Province before receiving a safety production license [2]. Group 4: 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 from long-life mines and pursuing organic growth through extensive drilling [7].