Silvercorp Metals Announces Mining License Extension and Joint Venture for Kyrgyzstan Gold Projects

Silvercorp Metals Inc. announced the successful conversion of Chaarat ZAAV CJSC into a joint venture company with Kyrgyzaltyn (a Kyrgyz Republic entity), with Silvercorp holding a 70% interest and serving as operator. The Kyrgyzstan government has extended the mining license for the Tulkubash/Kyzyltash gold projects from June 25, 2032 to June 25, 2062. As part of this agreement, Silvercorp made a $60 million cash payment to the Kyrgyzstan government, with an additional $10 million payment due upon achievement of certain milestones. The joint venture company holds a 100% interest in the mining license covering approximately 7 square kilometers hosting the permitted gold projects, plus surrounding exploration licenses totaling 27.42 square kilometers. The company has approved Phase 1 Development of Tulkubash for 2026-2027.