Mr. Jose Garcia reports

SILVER X ANNOUNCES LOAN AGREEMENT & MANAGEMENT UPDATE

Silver X Mining Corp. has executed a loan facility agreement with Trafigura Pte. Ltd., a global leader in commodity trading.

The loan provided to Recuperada SAC, a wholly owned subsidiary of Silver X, will be used for capital expenditures and working capital. Under the loan facility an amount of up to $1.4-million (U.S.) is available to Recuperada with a tenor of up to 25 months. Interest payable to Trafigura is based on the secured overnight financing rate (SOFR) plus 6 per cent per annum. The loan facility agreement includes covenants and events of default customary for a transaction of this nature. Silver X will provide a parent company guarantee, and the loan facility will be secured by first-ranking security over mining equipment and concessions owned by Recuperada.

As part of the loan facility, Silver X will also issue a loan bonus of 1.5 million common share purchase warrants of the company to an affiliate of Trafigura, Urion Holdings (Malta) Ltd. The warrants are subject to a hold period, under Canadian securities laws, expiring four months and one day from the date of issuance, exercisable for an equivalent of common shares for a period of 25 months at a 25-per-cent premium to the 20-day VWAP (volume-weighted average price) of Silver X's shares on the TSX Venture Exchange as of the day before announcing the signing date. The loan facility agreement and issuance of the warrants is subject to approval from the TSX Venture Exchange.

Management update

Silver X announces the retirement of Freddy Mayor, its chief operating officer (COO), who played an important role overseeing operational strategies driving the company's growth. Silver X chief executive officer Jose M. Garcia remarked: "Freddy's expertise and commitment have been invaluable in bringing the Tangana mining unit into commercial production and advancing the development of the Nueva Recuperada project. We are thankful and extremely grateful to Freddy for his dedication and contributions. On behalf of the board of directors and our entire staff, I wish Freddy the very best in his retirement. In the interim, I will assume the responsibilities of COO, as we continue aligning our resources with our strategic goals, focusing on increasing production and profitability."

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 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.

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