Mr. Jose Garcia reports

SILVER X MINING ANNOUNCES CLOSING OF BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$3.5 MILLION, WHICH INCLUDES A LEAD ORDER BY PALISADES GOLDCORP LTD.

Silver X Mining Corp. has closed its previously announced best-efforts private placement for aggregate gross proceeds of $3.5-million, which includes the full exercise of the agent's option for proceeds of $500,000. Under the offering, the company sold an aggregate of 20,588,235 units of the company at a price of 17 cents per unit. The offering included a lead order from Palisades Goldcorp Ltd., a publicly traded investment company focused on companies in the resource and mining sector.

Each unit consists of one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share at a price of 25 cents at any time on or before March 13, 2028.

Red Cloud Securities Inc. acted as sole agent and bookrunner in connection with the offering. In consideration for its services, the agent received a cash commission of $208,980 and 1,229,294 brokers' warrants. Each broker's warrant shall be exercisable for one common share at a price of 17 cents per common share at any time on or before March 13, 2028.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the units were sold to purchasers in the provinces of Alberta, British Columbia, Manitoba, Ontario and Saskatchewan, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities issuable pursuant to the sale of the units will be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

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.

"We are pleased to close this financing with strong investor support, including from Palisades Goldcorp. The proceeds will allow us to advance operations and exploration at Nueva Recuperada as we realize our vision for this prolific silver district, executing our growth strategy," said Jose Garcia, chief executive officer of Silver X.

About Silver X Mining Corp.

Silver X is a rapidly growing silver producer-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 aiming 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 it 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.