Mr. Jose Garcia reports

SILVER X MINING ANNOUNCES CLOSING OF THIRD AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Silver X Mining Corp. has closed the third and final tranche of its previously announced non-brokered private placement offering with the placement of a total of 8,600,750 units for aggregate gross proceeds of $2,580,225. Under the third and final tranche of the offering, the company sold an additional 1,384,000 units at a price of 30 cents per unit for additional gross proceeds of $415,200. On June 5, 2023, the company announced the closing of the first tranche of the offering with proceeds of $1,263,015 and on June 28, 2023, the company announced the closing of the second tranche of the offering with proceeds of $902,010.

Each unit consisted of one common share of the company and one of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of 45 cents for a period expiring two years following the closing date of the offering.

The company intends to use the net proceeds from the offering for capital expenditures and exploration related to the Nueva Recuperada silver district in Peru, and potential acquisitions of assets.

All securities issued and issuable in connection with the third tranche closing of the offering are subject to a statutory hold period expiring on Nov. 8, 2023. Closing of the offering is subject to receipt of all necessary regulatory approvals including final acceptance of the TSX Venture Exchange.

Under the third tranche of the private placement, the company paid fees to eligible finders consisting of: (i) $900 and (ii) 3,000 finder warrants exercisable into one common share at a price of 45 cents. Finder warrants are exercisable until July 7, 2025.

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 project in central Peru, and produces silver, gold, lead and zinc from the Tangana mining unit. Silver X'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.