6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934

November 17, 2008

Commission File No. 0001340677

SILVERCORP METALS INC.
(Translation of registrant's name into English)

Suite 1378 - 200 Granville Street

Vancouver, BC Canada  V6C 1S4

(Address of principal executive office)

[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]

Form 20-F [ ]  Form 40-F  [ X ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) [ ]

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is "submitting" the Form 6-K in paper as permitted by Regulation S-T "Rule" 101(b)(7)  [ ]

Note:  Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes   [ ]   No [X]

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: November 28, 2008

SILVERCORP METALS INC.

/s/ Lorne Waldman

Lorne Waldman

Corporate Secretary

EXHIBIT INDEX

EXHIBIT

DESCRIPTION OF EXHIBIT

99.1

NEWS RELEASE DATED NOVEMBER 17, 2008 - SILVERCORP SECOND QUARTER DIVIDEND - CAD$0.02

EX-99.1

Exhibit 99.1

Trading Symbol: SVM.TO November 17, 2008

SILVERCORP SECOND QUARTER DIVIDEND - CAD$0.02

VANCOUVER, British Columbia – November 17, 2008 – Silvercorp Metals Inc. (“Silvercorp”) China's largest primary Silver producer, provided a reminder of upcoming events:

Payment of Quarterly Dividend of CAD$0.02 – January 21, 2009

Silvercorp’s second quarter dividend of CAD$0.02 per share will be paid on January 21, 2009 to shareholders of record at the close of business on December 31, 2008.  The declaration and amount of any future dividends will be at the discretion of the Board of Directors and may be adjusted in the future based on fluctuations in metal prices and cash flows.

Notice of Clarification

As stated in the Company’s Management Discussion and Analysis the total production cost and total cash production cost for silver adjusted for by-product credits increased to negative $0.06 and negative $2.65 per ounce respectively. The Company’s press release of November 13, 2008 incorrectly shows the total production cost per ounce of silver and total cash cost per ounce of silver as negative $0.91 and negative $3.50.

About Silvercorp Metals Inc.

Silvercorp Metals Inc., China’s largest primary silver producer, is engaged in the acquisition, exploration, and development of silver related mineral properties focusing in the People's Republic of China ("China"). Silvercorp Metals Inc. is operating and developing four highly profitable silver-lead-zinc mines at the Ying Mining Camp, Henan Province, China.  Silvercorp is also applying for a mining permit for the newly acquired 95% owned GC/SMT property to profitably mine and produce silver, lead and zinc metals in Guangdong Province, China.  In addition, Silvercorp is also exploring the 82% owned Na-Bao Polymetallic Project in Qinghai Province, China.  The Company's common shares are included as a component of the S&P/TSX Composite, and the S&P/TSX Global Mining Indexes.

For further information:

SILVERCORP METALS INC. Rui Feng, Chairman/CEO & Lorne Waldman, Corporate Secretary Phone:(604) 669-9397, Toll Free Phone: 1-888-224-1881 Fax: (604) 669-9387, Email: info@silvercorp.ca,

Website: www.silvercorp.ca