Mr. Jose Garcia reports

SILVER X DELIVERS RECORD QUARTERLY PRODUCTION DURING THE SECOND QUARTER OF 2026

Silver X Mining Corp. has released its production results for the second quarter ended June 30, 2026, at the company's Nueva Recuperada property in Peru.

Second quarter 2026 production highlights:

• Processed tonnage increased to 62,252 MT in Q2 2026, up 39 per cent from 44,883 MT in first quarter 2026 and up 78 per cent from 34,899 MT in Q2 2025, as processing capacity continued to ramp at the Nueva Recuperada plant. The plant averaged approximately 684 MT per day during the quarter, with April reaching approximately 751 MT per day, meeting the plant's nominal capacity of 750 MT per day.
• Silver ounces processed increased to 175,560 oz in Q2 2026, up 40 per cent from 125,195 oz in Q1 2026 and up 75 per cent from 100,193 oz in Q2 2025, driven by higher throughput.
• Gold ounces processed rose to 2,204 oz in Q2 2026, up 55 per cent from 1,419 oz in Q1 2026 and up 233 per cent from 663 oz in Q2 2025, driven by higher throughput and gold head grades averaging 1.10 g/t as the company targeted higher-value zones.
• Silver equivalent ounces processed reached 380,436 oz and AgEq produced reached 283,029 oz in Q2 2026, up 50 per cent and 57 per cent, respectively, over Q1 2026.
• Underground development totalled 3,159 metres in Q2 2026 (compared with 2,440 metres in Q1 2026), enhancing access to additional mining areas and supporting sustained production growth.
• First half 2026 production reached approximately 634,000 silver equivalent oz processed and 463,000 AgEq oz produced, consistent with the company's path toward approximately six million AgEq ounces annually by 2029.

"The second quarter confirms the operational step forward we signalled at the end of the first quarter," said Jose M. Garcia, chief executive officer of Silver X. "Lifting throughput 39 per cent quarter over quarter while sustaining nominal plant capacity, together with a 55-per-cent increase in gold production, demonstrates the operating leverage of Nueva Recuperada as we continue to invest in our mining and processing capacity and advance toward our next growth targets."

The production performance in Q2 2026 reflects the continued ramp of mining and processing capacity at Nueva Recuperada. Following the milestone reached in March, when the plant first achieved nominal capacity, throughput was sustained through the second quarter at nominal capacity, translating into materially higher metal production quarter over quarter.

Growth in the quarter was driven primarily by higher plant throughput as Nueva Recuperada reached and sustained nominal capacity, with head grades broadly stable quarter over quarter. These results position the company for continued production growth throughout 2026 as it further optimizes mining flexibility and continues to invest in its operations and plant capacity expansion.

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.

About Silver X Mining Corp.

Silver X is a growing silver producer building a multiasset precious metal 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 AgEq 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.

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