Silver X files PEA technical report on Nueva Recuperada

Executive Summary

• Silver X Mining Corp. has filed a Preliminary Economic Assessment (PEA) for its Nueva Recuperada project in Peru, outlining a district-scale development plan with a 14-year mine life.
• The study projects an average annual production of approximately 6.2 million ounces of silver equivalent (AgEq) from two operating mines, Tangana and Plata, with a combined processing capacity of 3,000 tonnes per day.
• The PEA highlights strong economic metrics, including an after-tax Net Present Value (NPV) of $439 million at a 5% discount rate, an initial capital expenditure (Capex) of $82 million, and an after-tax payback period of 3.0 years.

Key Details

• Production Profile:
  • Average annual production of ~6.2 million ounces AgEq (excluding first and last years of Life of Mine).
  • Combined mining and processing capacity of 3,000 tonnes per day (tpd).
  • Life of Mine (LOM) of 14 years.
• Economic Metrics:
  • After-tax NPV: $439 million at a 5% discount rate.
  • After-tax payback: 3.0 years.
  • Cumulative after-tax cash flow: $606 million over 13 years (base case).
  • LOM Cash Costs: $11.8/oz AgEq.
  • LOM All-In Sustaining Costs (AISC): $15.8/oz AgEq.
• Capital Expenditure:
  • Initial Capex: $82 million.
  • Includes 13% contingency.
  • Covers new processing facility, dry-stacked tailings, and mine development.
• Operational Strategy:
  • Operation of two milling facilities: one at Tangana and one dedicated to Plata.
  • Plan to upgrade and expand resources, optimize mine operations, and accelerate the restart at the Plata mining unit.
• Technical Validation:
  • Prepared in accordance with National Instrument 43-101.
  • Qualified Persons include A. David Heyl, Edgard Vilela, Donald Hickson, and Adam Johnston.
  • Effective date of the technical report is May 31, 2025.

Notable Quotes

• "We are extremely excited to publish this expanded PEA, which confirms what we have believed since the inception of our company -- Nueva Recuperada is a district-scale silver project with the potential to operate and grow for decades," stated Jose Garcia, CEO.
• "With a 14-year mine life at 3,000 tonnes per day and average annual production of more than six million ounces of silver equivalent, the study provides a concrete framework for scaling Silver X into a mid-tier producer."
• "The strong investor support in our recent oversubscribed bought deal reinforces that this vision is widely shared. This financing gives us the flexibility to immediately begin executing the development plan..."