Silver X files PEA technical report on Nueva Recuperada

Mr. Jose Garcia reports SILVER X FILES PRELIMINARY ECONOMIC ASSESSMENT TECHNICAL REPORT WITH UPDATED MINERAL RESOURCE ESTIMATE Silver X Mining Corp. has filed a new preliminary economic assessment (PEA) demonstrating a district-scale project with combined mining and processing capacity of 3,000 tonnes per day (tpd) and annual metal production in excess of six million ounces AgEq (silver equivalent). Positive PEA results demonstrate the upside of having two operating mines, Tangana and Plata, which together have the necessary resources and the potential to establish Silver X as a mid-tier silver producer. "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, chief executive officer of Silver X. "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. Our plan to operate two milling facilities -- one at Tangana and one dedicated to Plata -- is now fully validated as both achievable and value accretive." Mr. Garcia continued: "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 -- upgrading and expanding resources, optimizing mine operations, and accelerating the restart at the Plata mining unit. With both technical validation and financial backing now in place, we are advancing confidently toward becoming one of South America's most significant silver producers." PEA highlights (2025) After-tax net present value (NPV) of $439-million at a 5-per-cent discount rate; Average annual production of approximately 6.2 million ounces of silver equivalent (AgEq), excluding first and last years of LOM (life of mine); LOM of 14 years at a maximum of 3,000 tpd (tonnes per day) combined mining and processing capacity; Initial capex of $82-million, including 13-per-cent contingency, for the new processing facility, dry-stacked tailings and mine development; After-tax payback of 3.0 years; LOM cash costs of $11.8/oz AgEq and LOM all-in sustaining costs (AISC) of $15.8/oz AgEq; Cumulative cash flow of $606-million after tax over 13 years on base case. The PEA was prepared by Edgard Vilela, AusIMM, CP (mining), Allen David Heyl, MAusIMM, CP (Geo), Adam Johnston, FAusIMM, CP (Met), and Donald Hickson, PEng (Alberta), in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and has an effective date of May 31, 2025. Cautionary statement regarding PEA The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Qualified person(s) A. David Heyl, BSc, CPG, who is a qualified person under NI 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. Edgard Vilela, who is qualified person and chartered professional in mining with the grade of fellow of AusIMM, has reviewed and approved the content of the chapter 16 and technical content of this news release for Silver X. With over 25 years of field and upper management experience. Mr. Vilela has a solid mining background in operating and short- and long-term mine planning and projects development for gold, silver and polymetallic deposits. Mr. Vilela has worked in several mines in Peru as Volcan Mining Company, Pan American Silver, Fortuna Mining as mining chief, technical manager and manager of planning and projects development in addition to consulting developing mining projects in Mexico, Chile, Argentina, Colombia and Peru. Donald Hickson, a qualified person and professional engineer registered in the provinces of Alberta and British Columbia, Canada, reviewed and approved the technical content of this news release for Silver X. Mr. Hickson has over 30 years of technical and management experience in the areas of mine waste and environmental management. He has participated in the design, construction, operation and closure of numerous tailings facilities, including projects/operations throughout North and South America. Mr. Hickson is currently managing director of Envis, and previously has held senior technical and management positions at Ausenco, Amec and Golder. Adam Johnston, who is a qualified person and a chartered professional with the Australian Institute of Metallurgy, has reviewed and approved the technical content of this news release for Silver X. Mr Johnston has over 30 years of experience in the metallurgical testing, plant design and plant operations of base metal and precious metal ores. He is a graduate of the Western Australian School of Mines with bachelor of minerals engineering, 1995. Mr Johnston is currently chief metallurgist at Transmin. 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.