Mr. Jose Garcia reports

SILVER X MINING ANNOUNCES TERMINATION OF ASSET PURCHASE AGREEMENT FOR THE REVENUE-VIRGINIUS MINE ASSETS

Silver X Mining Corp.'s asset purchase agreement previously announced on April 17, 2023, to acquire the Revenue-Virginius mine and certain related assets from Alliance Management LLC, as receiver under a court-supervised receivership, in Ouray county, Colorado, has been terminated.

"We have worked diligently on creating a plan for the acquisition of the Revenue mine that would generate value for all stakeholders involved," stated Jose M. Garcia, president and chief executive officer of Silver X. "However, there are circumstances beyond our control that have made it difficult to move forward. At this time, we are not willing to contribute further funds to the receivership process as we are not confident in the process and must ensure continued success of our core asset in Peru. We still believe in the viability of the Revenue mine and remain open to dialogue with local stakeholders in Ouray, Colorado, to find a mutually agreeable agreement on which to move forward on."

The company believes the district has an unparallelled geological setting and remains interested in the acquisition of the assets. Silver X will continue to explore other viable options to move forward with the acquisition.

About Silver X Mining Corp.

Silver X is a rapidly expanding silver developer and producer. The company owns the 20,000-hectare Nueva Recuperada silver district in Central Peru, and produces silver, gold, lead and zinc from the Tangana mining unit. The company's mission is to be a premier silver company delivering outstanding value to all stakeholders, and it aims to achieve this by consolidating and developing undervalued assets, creating value by adding resources and increasing production while aspiring to social and environmental excellence.

We seek Safe Harbor.