Silver X launches 40,000 m drill program at Recuperada

Mr. Jose Garcia reports SILVER X OUTLINES STRATEGIC INITIATIVES AND ANNOUNCES THE LARGEST DRILL PROGRAM IN ITS HISTORY - 40,000 METERS Silver X Mining Corp. has launched a 40,000-metre diamond drill campaign, the largest in the company's history. These initiatives will be supported by the proceeds from the recently completed bought deal financing and will focus on accelerating exploration, underground development and operational optimization at its Nueva Recuperada district in Huancavelica, Peru. Key highlights 40,000-metre drill program launched -- the largest in Silver X's history -- to expand and upgrade resources at Nueva Recuperada, Peru; Funded by the recent bought deal financing to accelerate exploration, mine development and efficiency improvements; Production to increase beyond nameplate capacity, targeting up to 1,000 tonnes per day by Q2 2026, doubling current output; Plan 100 initiative aims for $100 (U.S.)/tonne operating and sustaining costs, positioning Silver X among Latin America's lowest-cost silver producers; Strategic investments focused on margin growth, stronger cash flow and long-term expansion; Drilling to test high-grade satellite targets RedSilver and Tangana West (high-grade silver) for potential near-term production. "We have done the hardest part -- building a company during challenging times with limited access to capital," said Jose Maria Garcia, chief executive officer of Silver X Mining. "Now, with a stronger balance sheet and the largest exploration program in our history, we are positioned to capitalize on the current metal price environment and drive meaningful growth. "The funds raised will allow us to expand our resources, enhance our operations and unlock the full potential of the Nueva Recuperada district. With the quality of our assets, the expertise of our team and the momentum we've built, Silver X is entering a new phase -- one focused on scale, profitability and long-term value creation." Strategic use of proceeds Proceeds from the bought deal financing will support the company's next phase of growth through three key priorities: Exploration: execution of a 40,000-metre diamond drill program designed to expand resources, upgrade classifications and enhance grade continuity across priority targets within Nueva Recuperada; Mine development: acceleration of underground infrastructure projects, including new ventilation systems, improved mine access and contractor-supported equipment upgrades to enhance safety, productivity and efficiency; Operational strengthening: continued emphasis on selectivity, dilution control and grade improvement to drive stronger cash flow and higher operating margins. Operational performance and growth targets Silver X's Peruvian operations have remained consistently profitable despite a challenging environment. Operational performance has steadily improved in recent months, with September and October showing significant gains in grade and dilution control. Building on this momentum, the company plans to increase production by at least 40 per cent in the coming months, targeting 1,000 tonnes per day by Q2 2026 -- a milestone that would double current output and mark a major step toward long-term expansion. The processing plant is currently undergoing an adaptation process of its permits to allow operation at up to 1,000 tonnes per day, providing a significant opportunity to focus on mine development and nearly double production during 2026. Strategic investments now under way are expected to improve mine margins, strengthen cash generation and enhance overall operational resilience. Silver X is also advancing its Plan 100 initiative, targeting a combined operating and sustaining cost of $100 (U.S.) per tonne. Achieving this benchmark would place Silver X among the most efficient underground silver producers in Latin America. Exploration and growth vision The 40,000-metre drill campaign underpins Silver X's district-scale growth strategy and long-term vision of sustainable expansion. Key objectives include: Increasing and upgrading mineral resources; Identifying new high-grade silver zones capable of supporting small-scale, high-margin operations; Advancing toward the company's 3,000-tonne-per-day processing capacity target outlined in the September, 2025, preliminary economic assessment (PEA). At full expansion, Silver X is expected to produce over 6.2 million ounces of silver (AgEq) annually, positioning it as a leading mid-tier silver producer in the region. The program will also test high-grade satellite targets, including RedSilver and Tangana West, where grades of 15 to 20 ounces per tonne have been identified -- potential near-term opportunities for complementary, high-grade operations. Qualified person(s) A. David Heyl, BSc, CPG, who is a qualified person under National Instrument 43-101, has reviewed and approved the technical content of this news release for Silver X. With over 35 years of field and upper management experience, Mr. Heyl has a solid geological background in generating and conducting exploration and mining programs for gold, rare-earth metals and base metals, resulting in several discoveries. Mr. Heyl has 20 years of experience in Peru. He worked for Barrick Gold, was the exploration manager for Southern Peru Copper, and spent over 12 years working in and supervising underground and open pit mining operations in the Americas. About Silver X Mining Corp. Silver X Mining is a rapidly expanding silver producer and developer advancing the Nueva Recuperada project in Peru, a 20,795-hectare, district-scale land package with two mining units and over 200 targets. Current production at the Tangana mining unit is scaling alongside the planned restart of the Plata mine, supporting a path to approximately six million AgEq (silver equivalent) ounces annually by 2029. With immediate revenue, scalable growth and long-term discovery upside -- all within one integrated project -- Silver X is building the next-generation silver company defined by growth, resilience and responsible mining. We seek Safe Harbor.