Mr. Jose Garcia reports

SILVER X PROVIDES OPERATIONAL UPDATE AND REPORTS PRODUCTION RESULTS AT NUEVA RECUPERADA FOR THIRD QUARTER 2023

Silver X Mining Corp. has provided operational results for the third quarter ending Sept. 30, 2023 (Q3 2023), further to its news release on Sept. 19, 2023, regarding the Nueva Recuperada property operational update.

Production highlights:

• Since the announcement on Sept. 19, 2023, the company has successfully processed 230,444 ounces (oz) of silver equivalent (AgEq) in just 45 days, with an average head grade of 304.25 g/t (grams per tonne) AgEq (9.71 oz/ton AgEq).
• Processing of 90,303 oz AgEq in September, 2023, and 140,050 oz AgEq processed in October, 2023.
• Q3 2023 processed metal was reduced to 120,915 oz AgEq, due to the temporary halt of operations in July and August, 2023.
• Monthly metal throughput is currently back to the levels processed in Q3 2022 and Q4 2022 (before the temporary halt of operations in July and August, 2023).

"We are very satisfied with the restart of production at Nueva Recuperada. Our team is doing an outstanding job in increasing production steadily and safely," stated Jose Garcia, chief executive officer of Silver X. "We count now on a more robust mine schedule, and have built stronger alliances with our local community and strategic partners. We continue to forge ahead in increasing throughput in Q4 2023, and in successfully delivering to our shareholders our plans to build a prolific silver district in central Peru."

Production results

Qualified person

A. David Heyl, BSc, CPG, a qualified person under National Instrument 43-101, has reviewed and approved the technical content of this news release for Silver X. Mr. Heyl is a consultant for Silver X.

About Silver X Mining Corp.

Silver X is a rapidly expanding silver developer and producer. The company owns the more-than-20,000-hectare Nueva Recuperada silver district in central Peru and produces silver, gold, lead and zinc from the district's 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.