Mr. Jose Garcia reports

SILVER X ANNOUNCES STEADY PRODUCTION INCREASE DURING THIRD QUARTER OF 2024 AND BOARD CHANGE

Silver X Mining Corp. has released its operating results for the third quarter ended Sept. 30, 2024, at the company's Nueva Recuperada project in Peru.

Q3 2024 production highlights:

• Year-to-date production results demonstrate sustained growth compared with the first nine months of 2023:
  • 30 per cent more silver equivalent produced;
  • 52 per cent more ore mined and 42 per cent more processed;
  • Grades holding steady;
• Steady production continued during Q3 2024;
• Q3 2024 is not comparable with q3 2023 due to the operational reset last year, with operations being paused for eight weeks;
• Underground development continues, enabling new phases for both production and resource development.

"Our wholly owned Nueva Recuperada project is producing as expected. We are pleased with the steady growth of the operation and are excited about the future of this project. Our dedicated team continues to work hard to realize the potential of this promising silver district high in the Andes," said Jose M. Garcia, chief executive officer of Silver X.

"Financial results for the third quarter are expected to be announced in the next few weeks. Metals prices, particularly silver, continue to be a wind in our sails."

Board change

Silver X also announces that Sebastian Wahl has resigned as a director of the company, effective today.

"Sebastian has been a valuable member of Silver X's board since inception, and we are grateful for his leadership and contributions during his tenure," stated Mr. Garcia. "We wish him the very best in his future endeavours."

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 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 social and environmental excellence.

We seek Safe Harbor.