Mr. Jose Garcia reports

SILVER X DELIVERS SOLID PRODUCTION GROWTH DURING THE FIRST QUARTER OF 2024

Silver X Mining Corp. has released its operating results for the first quarter ended March 31, 2024, at the company's Nueva Recuperada property in Peru.

Q1 2024 production highlights:

• Demonstrated a significant increase in mining tonnage, with a raise of 20 per cent from Q4 2023, marking a robust continuation of production upscaling since the pivotal restart in September, 2023;
• Achieved a 3-per-cent increase in silver equivalent processing to 363,795 ounces silver equivalent in Q1 2024, compared with the previous quarter, and a 2-per-cent uplift from Q1 2023, showcasing sustained growth;
• Recorded an improvement in silver recovery rates, reaching an average of 89.2 per cent in Q1 2024, indicating enhanced efficiency in mineral extraction processes;
• Successfully met operational targets for Q1 2024, setting a strong precedent for the coming quarter as the company pivots toward replicating this success in Q2, with a strategic outlook on enhancing production volumes.

"We are pleased to report our second consecutive quarter of increased mine production and mill throughput, alongside persistent efforts towards reducing costs at both operational corporate levels," said Silver X chief executive officer Jose M. Garcia.

"These results confirm that our Nueva Recuperada operations are on track. The combination of production with this outstanding geological setting, makes Silver X one of the most attractive investment cases," he added.

Qualified person

A. David Heyl, BSc, CPG, who is 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.

Cautionary note regarding production without mineral reserves

The decision to commence production at the Nueva Recuperada project and the company's continuing mining operations as referenced herein are based on economic models prepared by the company in conjunction with management's knowledge of the property and the existing estimate of mineral resources on the property. The production decision and operations are not based on a preliminary economic assessment, a prefeasibility study or a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, there are increased uncertainty and economic and technical risks of failure associated with the production decision and operations, in particular: the risk that mineral grades will be lower than expected; the risk that additional construction or continuing mining operations are more difficult or more expensive than expected; and production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with NI 43-101.

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 its Tangana project. The company's mission is to be a premier silver company delivering outstanding value to all stakeholders, and Silver X 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.