Mr. Jose Garcia reports

SILVER X MINING ANNOUNCES NON-BROKERED LIFE PRIVATE PLACEMENT CONCURRENT WITH BOUGHT DEAL LIFE OFFERING FOR AGGREGATE GROSS PROCEEDS OF UP TO C$21.5 MILLION

Silver X Mining Corp., further to the company's news releases dated Sept. 11, 2025, and Sept. 12, 2025, and as a result of strong investor demand, is proceeding with a non-brokered private placement for the sale of a minimum of six million units of the company to a maximum of 11 million units at a price of 50 cents per unit for minimum gross proceeds of $3-million to maximum gross proceeds of $5.5-million. Red Cloud Securities Inc. and Laurentian Bank Securities Inc. are acting as finders for the company in connection with the non-brokered offering.

The non-brokered offering is being completed concurrent with the company's previously announced bought deal private placement for gross proceeds of $13-million from the sale of 26 million units at the offering price. Red Cloud, as lead underwriter, and Laurentian Bank Securities are acting as underwriters in connection with the brokered offering. The company will grant to the underwriters an option, exercisable up to 48 hours prior to the closing date of the brokered offering, to purchase for resale up to an additional six million units at the offering price to raise up additional gross proceeds of up to $3-million. In the event that the company sells the maximum number of units issuable under the offerings, which includes the exercise in full of the overallotment option, the company would raise aggregate gross proceeds of $21.5-million.

Each unit will consist of one common share of the company and one-half common share purchase warrant. Each whole warrant shall entitle the holder to purchase one common share at a price of 70 cents at any time on or before that date that is 36 months after the closing date of the offerings.

The company intends to use the net proceeds from the offerings for capital and exploration expenditures related to the company's operations in the Nueva Recuperada silver district in Peru, as well as for working capital and general corporate purposes.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the units under the non-brokered offering will be offered for sale to purchasers resident in all of the provinces of Canada except Quebec pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The unit shares and the warrant shares underlying the units are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The units may also be sold in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended. All securities not issued pursuant to the listed issuer financing exemption will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the closing date of the non-brokered offering.

The offerings are scheduled to close on Sept. 29, 2025, or such other date as the company and Red Cloud may agree. Completion of the offerings are subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

There is an amended and restated offering document related to the offerings that can be accessed under the company's profile on SEDAR and on the company's website. Prospective investors should read this amended offering document before making an investment decision.

About Silver X Mining Corp.

Silver X is a rapidly expanding silver producer and developer. The company owns the 20,472-hectare Nueva Recuperada silver project in central Peru, and produces silver, gold, lead and zinc from its Tangana mining unit. Silver X is building a premier silver company that aims to deliver outstanding value to all stakeholders, consolidating and developing undervalued assets, adding resources, and increasing production while aspiring to sustain supportive communities and stewarding the environment. Current production, paired with immediate development and brownfield expansion opportunities, presents investors with the opportunity to invest in the early stages of a silver producer with strong growth prospects.

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