Mr. Jose Garcia reports

SILVER X MINING ANNOUNCES BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF UP TO C$5.0 MILLION

Silver X Mining Corp. has entered into an agreement with Red Cloud Securities Inc. to act as sole agent and sole bookrunner (the agent) in connection with a best-efforts private placement to sell up to 16,666,667 units of the company at a price of 30 cents per unit (the offering price) for gross proceeds of up to $5-million.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each whole warrant shall entitle the holder to purchase one common share at a price of 42 cents at any time on or before that date which is 24 months after the closing date of the offering.

The company has granted to the agent an option, exercisable up to 48 hours prior to the closing date of the offering, to sell up to an additional 3,333,333 units at the offering price to raise up to an additional $1-million in gross proceeds.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions (NI 45-106), the units to be sold pursuant to the marketed offering will be offered for sale to purchasers in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan (the Canadian selling jurisdictions) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities issuable pursuant to the sale of LIFE units are expected to be immediately freely tradeable under 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.

The units sold pursuant to the agent's option (the non-LIFE units) will be offered by way of the accredited investor and minimum amount investment exemptions under NI 45-106 in the Canadian selling jurisdictions. The securities issuable pursuant to the sale of non-LIFE units will be subject to a hold period ending on the date that is four months plus one day following the closing date of the offering as defined in Subsection 2.5(2) of Multilateral Instrument 45-102 -- Resale of Securities.

The company intends to use the net proceeds from the offering 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.

The offering is scheduled to close on Nov. 14, 2024, or such other date as the company and the agent may agree, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.

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

About Silver X Mining Corp.

Silver X is a rapidly expanding silver developer and producer. 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. 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 sustain the communities that support the company 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.

We seek Safe Harbor.