Mr. Jose García reports

SILVER X MINING ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO C$2.0 MILLION

Silver X Mining Corp. has arranged a non-brokered private placement of up to 11,111,111 units at a price of 18 cents per unit for gross proceeds of up to $2-million. Each unit will comprise one common share and one-half share purchase warrant, with each whole warrant entitling the holder to purchase one share of the company at a price of 30 cents for a period of 36 months from the date of closing of the private placement.

Finders' fees of 6 per cent cash and 6 per cent finders' warrants may be payable to eligible parties. 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 (see news release dated Feb. 27, 2024).

The securities being offered under the offering will be issued pursuant to applicable exemptions from the prospectus requirements under applicable securities laws and will be subject to a hold period that will expire four months and one day from the closing.

The closing of the proposed offering is anticipated to occur on or about March 29, 2024. The closing of the offering is subject to the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange.

About Silver X Mining Corp.

Silver X is a rapidly expanding silver developer and producer in the Americas. The company owns the greater-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.