Silver X Acquires the High-Grade Pampas Gold-Silver Project, Expanding its Precious Metal Asset Base in Peru
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SILVER X MINING CORP
Silver X Acquires the High-Grade Pampas Gold-Silver Project,
Expanding its Precious Metal Asset Base in Peru
• Silver X to acquire the 7,712.5 -hectare Pampas Gold -Silver Project in Huancavelica,
Peru, adding a new high-grade exploration asset to its precious metals portfolio.
• High grades: Historical rock chip samples returned up to 85.9 g/t gold and 1,065 g/t silver.
• District-scale system: 36 mapped gold -silver veins with strike lengths of up to 2,000
metres across a large epithermal system.
• Major exploration upside: Despite extensive historical work, the project has never been
systematically drill tested, with an initial 5,000 m drill program planned.
Vancouver, British Columbia, March 24, 2026 – Silver X Mining Corp. (TSX-V: AGX | OTCQB:
AGXPF | F: AGX) (“Silver X” or the “Company”) is pleased to announce that it has entered into
a definitive agreement to acquire a 100% interest in the Pampas Gold-Silver Project located in
the Department of Huancavelica, Peru.
The Pampas acquisition secures control of an approximately 7,712.5-hectare epithermal
project hosting multiple low-sulfidation gold-silver veins and historical and validation results,
including rock chip and channel sample values of up to 85.9 g/t Au and 1,065 g/t Ag (Hunter
Resources plc, 4 February 2015). The Project represents a potentially important precious metals
exploration asset within the Central Andes polymetallic belt.
Strategically, the Pampas Project strengthens Silver X’s asset base in central Peru and
complements the Company’s producing Nueva Recuperada Property. The acquisition adds a
new district-scale exploration asset with significant discovery potential within o ne of the most
prospective polymetallic belts of the Central Andes.
With the addition of Pampas, Silver X continues to advance its strategy of building a multi-asset
precious metals company, supported by producing operations, high -grade exploration assets
and long-term regional processing capacity.
CEO Statement – 2026 Vision Alignment
José M. Garcia, CEO of Silver X, commented: “Pampas is exactly the type of asset we want to
add to the Silver X portfolio — high grade, district scale and located in the same mining belt
where we are already operating.
What makes Pampas particularly notable is the combination of strong historical grades and a
system that has never been systematically drilled. With values reaching 85 grams per tonne gold
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and over 1,000 grams per tonne silver, Pampas clearly demonstrates the strength of the
mineralizing system and the potential to host higher-grade zones.
Strategically, this acquisition strengthens our asset base in Peru and complements our
producing Nueva Recuperada operation. Pampas adds a new district -scale exploration
opportunity with significant discovery potential within the same prospective mining belt.
Our goal is simple: build Silver X into a high -grade, multi-asset precious metals company. With
production already underway at Nueva Recuperada and new district -scale exploration
opportunities emerging at Pampas, we believe we are building a platform capable of generating
long-term growth and discovery.”
Figure 1. Pampas Project claim blocks, mapped vein corridors and priority epithermal and
porphyry exploration targets.
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Investment Highlights – High-Grade Gold Growth Platform:
• District-scale acquisition: 7,712.5 hectares covering the Pampas and Próspero
concessions along a continuous mineralized structural corridor in central Peru.
• High-grade precious metals system: Historical and validation sampling indicates gold-
silver mineralization across multiple veins and mineralized zones.
• Large mineralized footprint: Historical work and later public disclosures describe at
least 36 mineralized veins with mapped strike lengths of between 100 and 2,000 metres
and widths ranging from 0.2 metres to more than 3.0 metres (Hunter Resources plc, 27
August 2014; Hunter Resources plc, 22 December 2014).
• No documented drilling: Despite extensive surface and underground work, the Project
has not been systematically drill tested.
• Historical database in place: Historical work by BISA/Buenaventura in 1998 –1999
included detailed surface and underground mapping and more than 1,000 multi -element
geochemical samples, forming the basis of the historical database referenced in this
release (BISA, 1999; Arroyo & Diaz, 2020).
• Independent validation supports upside: Follow-up work by Hunter Resources in 2014
and 2015 confirmed gold -bearing structures and identified additional mineralized
extensions under shallow cover (Hunter Resources plc, 27 August 2014; Hunter
Resources plc, 4 February 2015).
• District expansion potential: The adjoining Próspero concessions add scale and
introduce a copper-enriched polymetallic dimension along the same structural trend.
• Clear path to value creation: Silver X plans to advance Pampas through phased
exploration aimed at drill targeting and future mineral resource definition.
Table 1. Historical vein intervals include (see also Figure 2)
Victoria vein
500m mineralized vein exposed of which a 250m length averages
3.93 g/t Au, 131 g/t Ag, 1.42% Pb and 3.87% Zn (Hunter Resources
plc, 27 August 2014).
Luz vein 470m mineralized vein exposed of which a 200m length averages
8.84 g/t Au, 97 g/t Ag, 0.39% Pb and 4.16% Zn (Hunter Resources
plc, 27 August 2014).
Gaviota vein 1,250m mineralized vein exposed of which a 90m length averages
7.93 g/t Au, 138 g/t Ag, 0.57% Pb and 0.41% Zn (Hunter Resources
plc, 27 August 2014).
Santa Domingo
vein
2,000m mineralized vein exposed of which a 350m length averages
0.57 g/t Au, 84 g/t Ag, 2.21% Pb and 2.00% Zn (Hunter Resources
plc, 27 August 2014).
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Melita vein 515m mineralized vein exposed of which a 70m length
averages 2.63 g/t Au, 166 g/t Ag, 3.20% Pb and 4.90% Zn (Hunter
Resources plc, 27 August 2014).
Validation work completed by Hunter Resources between 2014 and 2015 confirmed the
presence of gold mineralization at Luz and nearby structures, including values of up to 5.91 g/t
Au and up to 6.39 g/t Au in areas interpreted as shallow -cover extensions (Hunter Resources
plc, 22 December 2014; Hunter Resources plc, 4 February 2015). Subsequent Hunter sampling
also reported rock chip and channel sample values of up to 85.9 g/t Au and 1,065 g/t Ag in
previously untested extensions (Hunter Resources plc, 4 February 2015).
The Próspero area introduces a copper-enriched polymetallic dimension to the Pampas district,
with later reconnaissance work reporting values of up to 4.12 g/t Au, 433 g/t Ag and 5.8% Cu,
suggesting potential metal zoning within a vertically evolving epithermal system.
Source: Historical Buenaventura sampling results as summarized in Hunter Resources plc news
release dated 27 August 2014, based on digitization of historical Buenaventura exploration data.
Reported Buenaventura sampling comprised both channel samples and rock chip samples from
underground and surface exposures.
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Figure 2. Surface gold geochemistry across the central Pampas vein cluster, highlighting high-
grade values along the Santo Domingo, Victoria, Melita, Gaviota, Piscococha, Luz and Amparo
structures.
Transaction Summary
Under the terms of the agreement, Silver X will acquire 100% of the Project for:
• US$1.7 million in staged cash payments over 24 months.
• A 3.0% NSR royalty with the option to repurchase 1.5% for US$1.5 million during the
first four years following the commencement of production.
Geological Setting – Dome Centered High-Grade Epithermal System
The Pampas –Próspero district is centered on an intrusive complex interpreted as part of a
Miocene volcanic dome system located within the polymetallic belt of the Central Andes.
Historical mapping and later technical synthesis indicate that mineralization across both Pampas
and Próspero is structurally controlled and hosted within two principal fault systems (Butler,
2014; Arroyo & Diaz, 2020).
A dominant northwest-trending structure includes the Santo Domingo vein, with approximately
2,000 metres of exposed strike length. A second north-south structural system hosts the Victoria,
Gaviota, Melita and Piscococha veins at Pampas, with individual st rike lengths of up to 1,250
metres and interpreted extensions toward the Próspero concessions (Butler, 2014; Hunter
Resources plc, 27 August 2014).
Pampas Area
At Pampas, mineralization occurs as quartz -sulfide veins and hydrothermal breccias hosted
within the intrusive complex and associated structures. Historical and later technical
interpretations indicate that higher -grade shoots may be localized where struct ures change
orientation or intersect, generating dilation zones favourable for mineralization (Butler, 2014;
Hunter Resources plc, 22 December 2014).
Historical underground workings, including multiple sublevels developed during the 1960s,
focused on Santo Domingo, Melita, Victoria and Gaviota, while the broader dome -centre area
remains comparatively underexplored at depth (Arroyo & Diaz, 2020).
Próspero Area
The Próspero concessions extend the same structural corridor northwest of Pampas and host
at least five mineralized zones identified through historical reconnaissance and later internal
technical review. Mineralization described at Próspero includes quartz -sulfide mantos,
hydrothermal breccias, copper-enriched zones hosted within dioritic units and strong iron oxide
alteration. Reported reconnaissance results include values ranging up to 4.12 g/t Au, 433 g/t Ag,
15.6% Pb, 5.87% Zn and 5.8% Cu (Arroyo & Diaz, 2020).
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Validation of Historical Work
Limited underground development was completed during the 1960s on the Santo Domingo,
Melita, Victoria and Gaviota veins, including multiple sublevels and approximately 1,347 metres
of underground geological mapping (Arroyo & Diaz, 2020).
In 1998 and 1999, Buenaventura Ingenieros S.A. (“BISA”) completed detailed underground
geological mapping at 1:500 scale, surface geological mapping at 1:2,000 scale, and surface
and underground geochemical sampling comprising more than 1,000 samples (BISA , 1999;
Arroyo & Diaz, 2020). This work forms the principal historical database referenced in this release.
Despite extensive historical surface and underground work, the Project has not been
systematically drill tested, leaving vertical continuity beneath historic workings untested (Hunter
Resources plc, 27 August 2014; Hunter Resources plc, 4 February 2015).
Between 2014 and 2015, Hunter Resources digitized, reinterpreted and partially validated the
historical dataset through mapping and sampling programs. Public disclosures issued by Hunter
on 27 August 2014 and 4 February 2015 summarized the historical Buena ventura data and
subsequent Hunter follow -up work, including confirmation of gold mineralization at Luz and
adjacent structures, as well as new anomalous zones sampled during the 2014 field program
(Hunter Resources plc, 27 August 2014; Hunter Resources plc, 4 February 2015).
Field observations and subsequent interpretation indicate local vein widening, structurally
controlled multi-stage mineralization and evidence for mineralization beneath shallow cover, all
of which support further evaluation through systematic drilling (Hu nter Resources plc, 22
December 2014; Butler, 2014).
Exploration Strategy
Silver X plans to initiate a phased exploration program:
Phase 1
• Validation of historical data
• Detailed structural mapping
• Systematic channel sampling
• Rehabilitation of historic workings
• Induced Polarization (IP) surveys
Phase 2
• 5,000m initial diamond drill program
• Testing high-grade shoots in Victoria, Luz and Santo Domingo
• Drilling structural extensions into Próspero
The objective is to define an initial NI 43-101 compliant mineral resource within 24–36 months.
Epithermal systems of similar age (12 –6 Ma) in the Huachocolpa –Julcani–Castrovirreyna belt
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commonly demonstrate significant vertical development.
Given the absence of systematic drilling at Pampas–Próspero, Silver X intends to prioritize
testing, down-dip extensions of known high -grade shoots, structural intersections at depth and
potential feeder zones beneath the dome center.
Infrastructure and Regional Mining Context
The Pampas Project is located approximately 40 kilometres in a straight line from Silver X’s
Nueva Recuperada operation, highlighting its strategic proximity to the Company’s existing asset
base in central Peru.
Infrastructure advantages include:
• Year-round road access
• Proximity to regional power lines
• Established mining workforce in the region
• Historic underground access points
• Manageable historical environmental footprint
The combination of geological potential and favorable infrastructure positions Pampas–Próspero
as a scalable exploration platform.
Quality Assurance and Quality Control (QA/QC)
Historical sampling completed by Buenaventura Ingenieros S.A. (“BISA”) for Compañía de
Minas Buenaventura S.A.A. predates NI 43 -101 standards. The analytical laboratories and
detailed QA/QC procedures for this historical work are not fully documented in the source
materials reviewed by the Company and, accordingly, these historical results should not be
relied upon as current and have not been fully verified by Silver X. The principal historical source
materials referenced in this news release are Proyecto Exploraciones Huancavelica –
Cartografía Geológica 1/2,000 y Recursos de Mineral – Prospecto Pampamali (Tomo I and
Tomo II), prepared by Buenaventura Ingenieros S.A. for Compañía de Minas Buenaventura
S.A.A., dated Lima, January 1999, with supporting miner agraphic work dated December 1998
(BISA, 1999; Andrade, 1998).
Validation and follow-up sampling results referenced in this news release are derived from prior
public disclosures by Hunter Resources plc issued in 2014 and 2015, including Hunter
Resources Identifies High Grade Gold-Silver Targets at Pampamali dated 27 August 2014 and
Recent Results from the Company’s Exploration Programme at Pampamali dated 4 February
2015. Those disclosures identify Andrew Richards, BSc (Hons), DipEd, MAusIMM, MAIG,
MSEG, GAICD, a Director of Hunter Resources, as the qualified person w ho reviewed and
approved the technical information contained therein (Hunter Resources plc, 27 August 2014;
Hunter Resources plc, 4 February 2015).
The Company has also reviewed the Hunter Resources plc Admission Document dated 6 June
2014, including the Competent Person’s Report prepared by Sean P. Butler, P.Geo., Mining Plus
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Canada Inc., which states that check samples collected by Global Pearl were delivered to ALS
Minerals laboratory, Lima, Peru, and analyzed by fire assay with atomic absorption finish for gold
(Butler, 2014).
Engagement of Marketing Firm
The Company has entered into a marketing agreement with The Money Channel NYC, Inc.,
located at 48 Wall Street, 11th Floor, New York, New York 10005 (“ TMC”), pursuant to which
TMC will act as a media consultant to the Company, assisting in identifying and introducing the
Company to media outlets and advertising opportunities for the dissemination of publicly
available information regarding the Company’s business plans.
The agreement will continue until April 14, 2026 , and is subject to the approval of the TSX
Venture Exchange. Pursuant to the agreement, the Company has agreed to pay TMC an
aggregate of US$200,000, payable as follows: US$67,000 upon execution of the agreement,
US$67,000 thirty days following execution, and US$66,000 sixty days following execution. In
addition, the Company has agreed to issue options exercisable for 250,000 common shares of
the Company for a period of 24 months at an exercise price equal to C$1.05 per share. Exercise
of these options is subject to prior TSXV approval.
TMC is a New York–based media relations and consulting company focused on capital markets
communications and media outreach. TMC is at arm’s length to the Company. The agreement
does not contain any performance -based compensation. TMC does not currently ow n any
securities of the Company. The Company will fund the cash consideration payable to TMC from
its general working capital.
Qualified Person
Mr. A. David Heyl, B.Sc., C.P.G who is a qualified person under NI 43-101, has reviewed and
approved the technical content of this news release for Silver X. Mr. A. David Heyl is a consultant
for Silver X.
References
• Buenaventura Ingenieros S.A. (1999). Proyecto Exploraciones Huancavelica –
Cartografía Geológica 1/2,000 y Recursos de Mineral – Prospecto Pampamali (Tomo I).
Prepared for Compañía de Minas Buenaventura S.A.A., Lima, January 1999. Authors:
Julio Meza P., Henry Quispe M., Juan Soto V.
• Buenaventura Ingenieros S.A. (1999). Proyecto Exploraciones Huancavelica –
Cartografía Geológica 1/2,000 y Recursos de Mineral – Prospecto Pampamali (Tomo II).
Prepared for Compañía de Minas Buenaventura S.A.A., Lima, January 1999. Authors:
Julio Meza P., Henry Quispe M., Juan Soto V.
• Andrade T., Rosa Elena. (1998). Estudio Mineragráfico de Tres Muestras del Prospecto
Pampamali del Proyecto Huancavelica. Prepared for Compañía de Minas Buenaventura