Mr. Jose Garcia reports

SILVER X DELIVERS PRODUCTION GROWTH DURING THE FIRST QUARTER OF 2026

Silver X Mining Corp. has released its operating results for the first quarter ending March 31, 2026, at the company's Nueva Recuperada property in Peru.

First quarter 2026 production highlights:

• Metal production increased quarter over quarter, supported by higher throughput, improved head grades and increased gold production, demonstrating a clear improvement in operational performance and metal throughput.
• Processed tonnage increased to 44,883 metric tonnes in Q1 2026, up from 41,635 metric tonnes in Q4 2025, representing an 8-per-cent quarter-over-quarter increase. In March, 2026 alone, processed tonnage reached 20,645 metric tonnes as production capacity expands at the Nueva Recuperada plant.
• Silver ounces processed increased to 125,195 ounces in Q1 2026, compared with 113,734 ounces in Q4 2025, representing a 10-per-cent sequential improvement driven primarily by higher silver head grades.
• Gold ounces processed rose to 1,419 ounces in Q1 2026, compared with 1,183 ounces in Q4 2025, representing a 20-per-cent increase driven by targeting higher-value zones within the mine.
• Silver equivalent ounces processed were 253,114 ounces in Q1 2026, versus 266,995 ounces in Q4 2025. The decrease in silver equivalent ounces is primarily attributable to higher silver prices during the quarter (approximately $83 (U.S.) per ounce in Q1 2026 versus $55 (U.S.) per ounce in Q4 2025).

"This quarter marks a clear step forward in Silver X's growth trajectory," said Jose M. Garcia, chief executive officer of Silver X. "We delivered higher tonnage, improved grades and a strong increase in precious metals production, particularly gold, which is enhancing our revenue mix and strengthening our cash flow profile."

March performance represents an important operational milestone, with the plant reaching nominal capacity and development rates achieving record levels. These results position the company for continued production growth throughout 2026 as we further optimize mining flexibility and continue to invest in our operations."

The strong performance in Q1 2026 reflects continued investment in mining and processing capacity at Nueva Recuperada. During March, throughput stabilized at the nominal capacity of approximately 750 metric tonnes per day.

Underground development also advanced significantly during the quarter, achieving a record 1,010 metres in March. This progress enhances access to additional mining areas and supports the company's ability to sustain and grow production in the coming quarters.

Please see "Cautionary note regarding production without mineral reserves" at the end of this news release.

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 (the production decision and operations) 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 is 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 ongoing 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 growing silver producer building a multiasset precious metals platform in Peru. The company's portfolio includes the Nueva Recuperada project, a district-scale land package of 20,795 hectares with two mining units and over 200 exploration targets, as well as the recently acquired Pampas project, which adds further scale and long-term growth potential.

Current production from the Tangana mining unit is increasing alongside the planned restart of the Plata, Red Silver and Blenda Rubia mines, supporting a path toward approximately six million silver equivalent ounces annually by 2029. The addition of the Pampas project strengthens the company's asset base and enhances its ability to grow into a district-wide, multiasset operator.

With existing production, scalable expansion opportunities and significant exploration upside across multiple assets, Silver X is positioning itself as a next-generation silver company focused on growth, diversification and long-term value creation.

We seek Safe Harbor.