Mr. Jose Garcia reports

SILVER X MINING ANNOUNCES BOUGHT DEAL LIFE OFFERING FOR GROSS PROCEEDS OF UP TO C$10.0 MILLION

Silver X Mining Corp. has entered into an agreement with Red Cloud Securities Inc. to act as lead underwriter on behalf of a syndicate of underwriters including Laurentian Bank Securities, pursuant to which the underwriters shall purchase for resale 20 million units of the company at a price of 50 cents per unit on a bought deal basis for gross proceeds of $10-million.

Each unit will consist of one common share of the company and one-half common share purchase warrant. Each whole warrant shall entitle the holder to purchase one common share at a price of 70 cents at any time on or before that date which is 24 months after the closing date of the offering.

The company has granted the underwriters an overallotment option, exercisable up to 48 hours prior to the closing date, to purchase for resale up to four million additional units at the offering price to raise additional gross proceeds of up to $2-million.

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 Sept. 29 or such other date as the company and the underwriters 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 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. It is building a premier silver company that aims to deliver outstanding value to all stakeholders, consolidating and developing undervalued assets, adding resources, 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.

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