Silver X Delivers Production Growth During the Fourth Quarter of 2025
1
SILVER X MINING CORP
Suite 1012 – 1030 West Georgia Street | Vancouver, BC | V6E 2Y3
SILVER X DELIVERS PRODUCTION GROWTH DURING
THE FOURTH QUARTER OF 2025
Vancouver, British Columbia, January 08, 2026 – SILVER X MINING CORP. (TSX-
V: AGX) (OTCQB: AGXPF) (F: AGX) ("Silver X" or the "Company"), is pleased to
announce its operating results for the fourth quarter ending December 31, 2025 (“4Q25”) at
the Company’s Nueva Recuperada property (the “Project”) in Peru.
4Q 2025 Production Highlights
• Processed tonnage increased to 41,635 tonnes in 4Q25 , up from 33,505 tonnes in
3Q25, representing a 24% quarter-over-quarter increase.
• Silver equivalent ounces (“AgEq”) processed rose to 266,995 oz in 4Q25 , compared
to 227,315 oz in 3Q25 –a 17% sequential improvement –driven primarily by higher
throughput while maintaining consistent head grades.
• The increase in silver equivalent ounces was achieved despite higher average silver
prices in 4Q25 , which averaged approximately US$55/oz compared to US$40/oz in
3Q25, demonstrating operational stability and grade consistency.
• Gold production increased to 667 ounces in 4Q25 , up from 398 ounces in 3Q25,
representing a 67% quarter-over-quarter increase.
“This quarter marks an important step forward in Silver X’s operational ramp-up” said José
M. Garcia, CEO of Silver X. “We delivered strong sequential growth in throughput and
production while maintaining grade consistency, validating the investments we’ve made in
development and operational coordination. The increase in gold production further
strengthens our revenue mix and cash flow profile. As we continue to open new mining
fronts and advance our 40,000 -meter drilling program, we are positioning Nueva
Recuperada for sustained production growth and meaningful district-scale value creation.”
The strong performance in 4Q25 reflects Silver X’s ongoing focus on increasing mining
and processing capacity, improving mine access and development, and executing on its
operational growth strategy at Nueva Recuperada. Continued investment in underground
development, combined with improved operational coordination, has positioned the
Company for further production growth in upcoming quarters.
The Company’s previously announced 40,000 -meter drilling program, together with
2
sustained development of new mining fronts, is expected to support both near -term
production growth and longer -term resource expansion across the district.
Nueva Recuperada Project Production
Quarter ending December 31, 2025, compared to September 30, 2025
Notes:
(1) Measure of performance with no prescribed definition under IFRS. Refer to the "Non -IFRS Measures" section of this
press release.
(2) AgEq ounces produced were calculated based on all metals produced using the average sales prices of each metal
for each month during the period. Revenues from concentrate sales does not consider metallurgical recoveries in the
calculations as the metal recoveries are built into the sales amounts. In Q4 2025, AgEq was calculated using metal prices
of US$55.56 per oz Ag, US$4,168 per oz Au, US$0.89 per lb of Pb and US$1.44 per lb of Zn.
Please see “Cautionary Note regarding Production without Mineral Reserves” at the end of this news release.
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.
Cautionary Note regarding Production without Mineral Reserves
The decision to commence production at the Nueva Recuperada Project and the
Company's ongoing mining operations as referenced herein (the " Production Decision
and Operations ") are based on economic models prepared by the Company in
conjunction with management's knowledge of the property and the existing estimate of
mineral resources on the property. The Production Decision and Operations are not based
on a preliminary economic assessment, a pre -feasibility study or a feasibility study of
mineral reserves demonstrating economic and technical viability. Accordingly, there is
increased uncertainty and economic and technical risks of failure associated with the
Production Decision and Operations, in particular: the risk that mineral grades will be lower
than expected; the risk that additional construction or ongoing mining operations are more
difficult or more expensive than expected; and production and economic variables may
Unit Q4-2025 Q3-2025 Change Change %
Material processed tonnes 41,635 33,505 8,130 24.27%
Average head grades
Average AgEq head grades g/t 199 211 -12 -5.48%
Average AgEq head grades oz/t 6.41 6.78 -0.37 -5.48%
Average recoveries
Silver % 85.28 84.88 0.40 0.48%
Gold % 56.36 53.03 3.33 6.28%
Zinc % 77.61 76.00 1.61 2.12%
Lead % 81.91 82.26 -0.35 -0.43%
AgEq processed12 oz 266,995 227,315 39,680 17.46%
AgEq produced12 oz 197,004 166,621 30,384 18.24%
Comparative with 4Q-2025
3
vary considerably, due to the absence of a detailed economic and technical analysis in
accordance with NI 43-101.
About Silver X
Silver X 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 ~6 million AgEq
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. For more information
visit our website at www.silverxmining.com.
ON BEHALF OF THE BOARD
José M. Garcia
CEO and Director
For further information, please contact:
Kaitlin Taylor
Investor Relations
+1 778 887 6861
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
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation
(“forward-looking information”). 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 re sults “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. All information
contained in this press release, other than statements of current and historical fact, is forward looking information.
Forward- looking information contained in this press release may include, without limitation, exploration plans, results of
operations, expected performance at the Project, the Company’s belief that the Tangana system will provide considerable
resource expansion potential, that the Company will be able to mine the Tangana Mining Unit in an economic manner,
and the expected financial performance of the Company.
The following are some of the assumptions upon which forward-looking information is based: that general business and
economic conditions will not change in a material adverse manner; demand for, and stable or improving price for the
commodities we produce; receipt of regulatory and governmental approvals, permits and renewals in a timely manner;
that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other
material disruption in the Company’s operations at the Project and Nueva Recuperada Plant; the availability of financing
for operations and development; the Company’s ability to procure equipment and operating supplies in sufficient
quantities and on a timely basis; that the estimates of the resources at the Project and the geological, operational and
price assumptions on which these and the Company’s operations are based are within reasonable bounds of accuracy
(including with respect to size, grade and recovery); the Company’s ability to attract and retain skilled personnel and
directors; and the ability of management to execute strategic goals.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the
4
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, including but not limited to those risks
described in the Company’s annual and interim MD&As and in its public documents filed on www.sedar.com from time
to time. Forward- looking statements are based on the opinions and estimates of management as of the date such
statements are made. 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.