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AGX.V ·

Silver X Completes Shares FOR Debt Transaction

Share Capital & Compensation

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 COMPLETES SHARES FOR DEBT TRANSACTION

Vancouver, B.C., January 27 , 202 2 - SILVER X MINING CORP. (TSX -V: AGX) (OTC QB:

WRPSF) (“Silver X” or the “Company”) is pleased to announce that the shares for debt transaction,

announced on January 24, 2022, is completed.

The Company has distinguished the accrued interest on the Debenture to December 31, 2021, in the

amount of CAD$249,680 by way of the issuance of a total of 780,250 common shares.

All securities issued will be subject to a four month hold period which will expire on the date that is

four months and one day from the date of issue.

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 l ead 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.

ON BEHALF OF THE BOARD

Jose Garcia

Chief Executive Officer

For further information, please contact:

Silver X Mining Corp.

Jose Garcia, Chief Executive Officer

+1 604 358 1382 | [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined i n

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.

- 2 -

Cautionary Statement Regarding “Forward-Looking” Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities

legislation. Generally, forward-looking information can be identified by the use of forward -looking terminology

such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,

“intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state

that certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be

achieved”. Forward-looking information in this press release may include, without limitation, statements with

respect to the Debt Settlement by the Company.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may

cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to

be materially different from those expressed or implied by such forward -looking information. Although the

Company has attempted to identify important factors that could cause actual results to differ materially from

those contained in forward -looking information, there may be other factors that cause results not to be as

anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as

actual results and future events could differ materially from those anticipated in such statements. Accordingly,

readers should not place undue reliance on forward -looking information. The Company does not undertake to

update any forward-looking information, except in accordance with applicable securities laws.