Silver X Announces Positive Expanded PEA After-Tax NPV 5% of US$440M; IRR 69% Reports Updated Mineral Resource Estimate

Executive Summary

• Silver X Mining released a 2025 PEA for the Nueva Recuperada district showing a 14‑year LOM with 3,000 tpd combined mining/processing capacity and >6 Moz AgEq annual production.
• The after‑tax NPV (5% discount) is $440 M, IRR 69%, and payback ≈3 years; cash costs $11.8/oz AgEq and AISC $15.8/oz AgEq.
• Initial capex is estimated at $82 M (including 13 % contingency) for a new processing plant, dry‑stacked tailings, mine development and related infrastructure.

Key Details

• Life of Mine & Production – 14 yr LOM; average annual production ≈6.2 Moz AgEq; peak years 4‑11 at 1.095 M tpa.
• Economic Metrics – After‑tax NPV (5%): $440 M; after‑tax NPV (10%): $303 M; IRR: 69%; Payback: 3 yr; NPV/Capex multiple: 5.4×.
• Cost Structure – LOM cash cost $11.8/oz AgEq; AISC $15.8/oz AgEq; total operating cost $75/t (incl. mining $36.3/t, processing $12.7/t, overhead $14.9/t).
• Capital Expenditure – Total pre‑contingency $72.1 M; contingency $9.7 M; final estimate $81.8 M (rounded to $82 M). Breakdown: mines $15.6 M, processing plants $38.8 M, tailings/facilities $6.3 M, camps/roads $7.6 M, owner’s costs & studies $3.9 M.
• Metal Price Assumptions – Silver $33.2/oz; Gold $2,928/oz; Lead $0.93/lb; Zinc $1.34/lb (CIBC Aug‑2025 consensus).
• Resource Estimate (2025 PEA) – Measured + Indicated: 35.65 Moz AgEq (13.95 Moz Ag); Inferred: 116.55 Moz AgEq (68.89 Moz Ag). Grades and contained metals detailed in table (Au, Ag, Pb, Zn, Cu).
• Project Plan – Two mines (Tangana – existing production; Plata – new high‑grade zone) feeding two mills: new 1,500 tpd plant at Tangana and expanded 1,500 tpd Recuperada mill for Plata ore. Dry‑stacked tailings planned for both facilities.
• Environmental – Final ESIA for Tangana expected by end‑2025; permitting work ongoing with SENACE.
• Forward‑Looking Statements – Includes assumptions on commodity prices, permitting, financing, construction schedules and operational performance.

Notable Quotes

“This updated PEA supports the Company's vision to increase production by up to six times within the next few years… The combined district‑scale operation positions Silver X to become one of the most significant polymetallic silver projects in South America.” – José García, CEO

All technical and qualified person disclosures have been omitted for brevity; the full PEA report will be filed on SEDAR within 45 days.