Silvercorp Metals Inc., further to its news release of January 20, 2026, Silvercorp is pleased to announce it has completed the acquisition of Chaarat ZAAV CJSC (“ZAAV”) per the Share Purchase Agreement with Chaarat Gold Holdings Limited (“Chaarat”). The Kyrgyz government having issued a waiver of its statutory pre-emptive right and Silvercorp having made the $92 million payment to Chaarat.
Per the agreements between the parties, Silvercorp will proceed to convert ZAAV into a joint venture company (“JVC”) with Kyrgyzaltyn (a wholly-owned subsidiary of the Kyrgyz Republic), with Silvercorp holding a 70% interest and being the operator of the JVC and Kyrgyzaltyn holding a 30% free-carried interest.
The JVC will apply for the agreed upon extension of the validity period of the JVC’s mining license from June 25, 2032 to June 25, 2062 and Silvercorp will then make the $60 million cash payment to the National Investment Agency under the President of the Kyrgyz Republic (the “NIA”), per the Cooperation Agreement with the NIA.
ZAAV, the JVC, is a Kyrgyz corporation, holding a 100% interest in the mining license hosting the fully-permitted Tulkubash/Kyzyltash gold projects as well as surrounding exploration licenses hosting the Karator and Ishakuld gold zones located in the Tian Shan area.
King & Wood Mallesons (Beijing office) acted as lead legal counsel to Silvercorp on the transaction. For further details regarding the transaction refer to the January 20 news release which is available on SEDAR+ (www.sedarplus.ca) and on EDGAR at www.sec.gov under Silvercorp’s issuer’s profile.
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