Silver X Commences Environmental and Social Impact Assessment Update at Nueva Recuperada to Expand Operations and Quadruple Processing Plant Capacity to 2,500 Tpd
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**
SILVER X MINING CORP.
Suite 1430 – 800 West Pender Street, Vancouver, B.C. V6C 2V6
SILVER X COMMENCES ENVIRONMENTAL AND SOCIAL IMPACT ASSESSMENT
UPDATE AT NUEVA RECUPERADA TO EXPAND OPERATIONS AND QUADRUPLE
PROCESSING PLANT CAPACITY TO 2,500 TPD
• Updated ESIA will allow for increasing Nueva Recuperada processing plant capacity to
2,500 tpd and a new 8,000,000 m3 tailings storage facility
• ESIA is a key component of maintaining and strengthening the company’s social license
to operate
Vancouver, B.C., October 6, 2021. SILVER X MINING CORP. (TSX-V: AGX) (OTC Pink:
WRPSF) (“Silver X ” or the “ Company”) is pleased to announce it has begun updating the
Environmental and Social Impact Assessment (ESIA) for its Nueva Recuperada Project (the
“Project”) to expand operations. Nueva Recuperada currently operates within the medium size
mining regime (350 tpd to 5,000 tpd) and is seeking to expand its permitted capacity to 2,500 tpd.
The ESIA is a key component of a comprehensive environmental and social permitting process
and will cover both wholly owned Tangana and Esperanza silver-polymetallic Mining Units. The
assessment also covers the associated mining infrastructure and existing tailings facility for a total
study area of 4,900 ha. Key components of the updated ESIA include an expansion of production
capacity at the Company’s mineral processing plan t to 2,500 tpd from the current 600 tpd and a
new 8,000,000 m3 capacity tailings storage facility. Silver X is focusing on aggressively expanding
silver production at Nueva Recuperada and is targeting 5 Moz Ag annual production by 2024.
Pilar Garcia , head of permitting and environmental compliance at Silver X commented
“Responsible development is a guiding principle of Silver X”. She continued, “the environmental
studies and community consultations for the ESIA allow for collaborative discussions with
stakeholders while providing the Company a clear path to expanding opera tions. We are very
proud to have a strong social license to operate at Nueva Recuperada and we will continue reducing
and mitigating our environmental impact while sharing the economic benefits of resource
development with our stakeholder s. We are on track to submit the updated ESIA application in
May 2022 and anticipate approval in the following year.”
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Figure 1: Map of EISA study area; showing proposed new project infrastructure.
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The ESIA is a systematic process for evaluating the impacts the Project may have on the physical,
biological, social/socio -economic, and cultural environments. It identifies measures that the
Project should enact to avoid, reduce, mitigate, or compensate for adverse impacts, and those that
can enhance positive impacts, where p racticable. The updated ESIA of the Nueva Recuperada
Project will include the following components:
• Baseline Assessment: Initial survey to assess the environmental and social situation
within the project area; commenced September 2021.
• Project Description: Detailed summary of all project components, facilities, and
associated organizations; commenced September 2021.
• Impact Identification and Prediction: Comprehensive review of impacts and benefits
from proposed expansion.
• Environmental and Social Management Plan (ESMP) : Incorporates measures and
procedures for the short and long -term environmental and social management of the
project.
• Stakeholder Engagement: An ongoing process that continues throughout the ESIA. This
focuses on a broad range of activities, including information sharing, consultation,
negotiation, and partnership building. T he initial community workshop was held in
September 2021.
Qualified Person
Mr. A. David Heyl who is a qualified person under NI 43 -101, has reviewed and approved the
technical content of this news release for Silver X. Mr. Heyl, B.Sc., C.P.G., QP is a Certified
Professional Geologist and Qualified Person under NI 43 -101. With over 25 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 twelve years working in
and supervising underground and open pit mining operations in the Americas. Mr. A. David Heyl
is a consultant for Silver X.
About Silver X Mining
Silver X Mining is a Canadian silver mining company with assets in Peru and Ecuador. The
Company’s flagship asset is the Nueva Recuperada silver lea d zinc project located in
Huancavelica, Peru. Founders and management have a successful track record of increasing
shareholder value. For more information visit our website at www.silverx-mining.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities described in this news release in the United States. Such securities have not been,
and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S.
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Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within
the United States, or to or for the account or benefit of persons in the United States or "U.S.
Persons", as such term is d efined in Regulation S promulgated under the U.S. Securities Act,
unless registered under the U.S. Securities Act and applicable state securities laws or pursuant
to an exemption from such registration requirements.
ON BEHALF OF THE BOARD
José M García
CEO and Director
For further information, please contact:
Silver X Mining Corp.
+ 1 604 358 1382 | [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this news release are for ward-looking statements and information within the
meaning of applicable securities laws. Forward -looking statements and information can be identified by the use of
words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or
statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur
or be achieved. Forward -looking statements in this news release include statements in respect of the Company' s
exploration plans and development potential for the Company's properties. Forward -looking statements and
information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s
control. Actual results and developm ents are likely to differ, and may differ materially, from those expressed or
implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise
any forward-looking statements, except as may be required by law.