Silver X Intersects up to 17.86 m True Width at Blenda Rubia, Advancing Scalable Mining Strategy
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SILVER X MINING CORP
620 – 1111 Melville Street, Vancouver, BC V6E 3V6, Canada
Silver X Intersects up to 17.86 m True Width at Blenda Rubia,
Advancing Scalable Mining Strategy
Vancouver, British Columbia, April 16, 2026 – Silver X Mining Corp. (TSX-V: AGX |
OTCQB: AGXPF | F: AGX) (“Silver X” or the “Company”) is pleased to report additional
underground diamond drilling results from the Blenda Rubia target, located near the
Company’s Nueva Recuperada operation in central Peru.
The latest results continue to define a broad and continuous high-grade silver-polymetallic
system, with estimated true widths reaching up to 17.86 meters and averaging
approximately 6.0 meters in areas where the geometry of the system is sufficiently
constrained by drilling and ongoing modelling.
Importantly, drilling indicates that mineralization extends beyond discrete veins into a
wider mineralized corridor, supporting the potential for bulk-style mining scenarios in
selected areas while maintaining vein mining elsewhere, and positioning Blenda Rubia as
a potential low-cost feed source near the Company’s processing plant, with the ability to
enhance production scale and operating margins, representing a potential step change in
mining scale and cost efficiency at Nueva Recuperada.
Key Highlights
• Up to 17.86 m true width intersected at Blenda Rubia, confirming significant mining
widths
• 54.85 m apparent width (17.86 m true width) in DDH-BR-003, defining a broad
mineralized corridor
• 35.35 m apparent width in DDH-BR-005, confirming continuity of mineralization
beyond the current drill pattern
• Consistent widths averaging ~6.0 m true width where constrained by drilling
• Mineralization extends beyond discrete veins into a continuous mineralized
corridor, supporting scale
• Geometry supports bulk-style mining in selected areas, while maintaining Silver X’s
conventional underground vein mining methods elsewhere
• System remains open and expanding, with mineralization extending outside the
current drill footprint
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CEO Statement – Step Change Toward Scalable Mining
José M. Garcia, CEO of Silver X, commented: “These results fundamentally change our
understanding of Blenda Rubia. What we are seeing is not a narrow vein system, but a
broad and continuous mineralized corridor that has the potential to support bulk-style
mining in selected areas.
When combining these widths with consistent silver grades, the system has the potential
to deliver strong value per tonne, which is critical as we scale production.
This is particularly important given the proximity to our processing plant, positioning
Blenda Rubia as a potential low-cost feed source that can materially enhance our
operating flexibility and cost profile.
As we continue to advance the asset, we see Blenda Rubia playing a key role in
supporting multiple mining fronts and contributing to our objective of building toward 6
million silver-equivalent ounces of annual production. This combination of scale, grade
and location is uncommon and highly strategic within our district.”
Strategic Importance – Scalable, Low-Cost Growth Driver
Blenda Rubia is emerging as a key component of Silver X’s production strategy at Nueva
Recuperada.
The system complements high-grade narrow vein mining at Tangana by introducing the
potential for wider mining zones and, in selected areas, bulk-style extraction, while
maintaining conventional vein mining in other parts of the district. This combination
supports:
• Improved mining efficiency and lower unit costs
• Strong value per tonne from consistent silver grades
• Reduced transportation costs due to proximity to the processing plant
• Increased production flexibility through multiple mining fronts
As the Company advances multiple mining areas, Blenda Rubia is expected to play an
important role in supporting scalable production growth toward approximately 6 million
silver-equivalent ounces annually.
Geological Interpretation – Broad Mineralized Corridor
The current geological model indicates that Blenda Rubia is controlled by two principal
veins, Vein 1 and Vein 3, which locally converge and diverge along strike and at depth.
Drilling demonstrates that the space between these structures is consistently mineralized
by veinlets, hydrothermal breccias and disseminated sulphides, forming a continuous
mineralized corridor rather than isolated narrow veins.
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This evolving interpretation supports the potential for greater scale, improved continuity
and enhanced mine planning flexibility.
Next Steps
The Company is actively advancing Blenda Rubia through a focused and expanding drill
program designed to rapidly define the scale and mining potential of the system.
• Step-out drilling is ongoing to extend the mineralized corridor laterally and at depth
• Infill drilling is being accelerated between key intercepts to define continuity and
support near-term mine planning
• Multiple drill platforms are being utilized, enabling simultaneous advancement from
different areas of the system
• Ongoing geological modelling is focused on defining mining shapes and evaluating
bulk mining scenarios in selected zones
• Results are expected to continue expanding the system and supporting the
integration of Blenda Rubia into the Company’s production pipeline
Figure 1. Longitudinal Section of Blenda Rubia Vein 3
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Table 1. Drill Hole Collar Locations and Orientation Parameters for Blenda Rubia
Hole ID Easting Northing Elevation (m) Azimuth (°) Dip (°) Hole Length (m)
DDH-BR-25-001 504,722.802 8,550,666.181 4,428.265 174.9 -65.9 299.8
DDH-BR-25-002 504,721.237 8,550,666.948 4,428.158 216.6 -70.0 382.0
DDH-BR-25-003 504,588.770 8,550,505.390 4,425.480 10.0 -74.8 242.8
DDH-BR-26-004 504,588.770 8,550,505.390 4,425.480 318.0 -77.5 320.5
DDH-BR-26-005 504,588.770 8,550,505.390 4,425.480 285.0 -53.0 500.5
DDH-BR-26-006 504,588.770 8,550,505.390 4,425.480 55.0 -64.0 329.5
DDH-BR-26-007 504,588.770 8,550,505.390 4,425.480 345.0 -78.0 539.7
DDH-BR-26-008 504,588.770 8,550,505.390 4,425.480 325.0 -70.0 213.3
DDH-BR-26-009 504,588.770 8,550,505.390 4,425.480 325.0 -75.0 244.6
DDH-BR-26-010 504,588.770 8,550,505.390 4,425.480 35.0 -70.0 215.4
Drill hole collar locations and orientation parameters for the holes referenced in this release are
provided in Table 1.
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Table 2. Selected Drill Intercepts from Blenda Rubia
Hole ID Zone / package Width basis Width (m) Ag (g/t) Pb (%) Zn (%) Cu (%)
DDH-BR-003 Broad mineralized corridor Apparent
width 54.85 79.86 0.77 0.13 0.004
Includes: Vein 3 Interval 10.80 289.27 2.47 0.34 0.003
Vein 1 Interval 7.60 48.15 0.60 0.07 0.003
Silicified / veinlet fill Interval 2.85 49.82 0.62 0.18 0.003
Tensional veins vein set Interval 9.20 52.84 0.65 0.04 0.007
DDH-BR-005 Composite mineralized
package
Apparent
width 35.35 94.92 1.82 1.25 0.233
DDH-BR-008 Composite mineralized
package Interval 13.00 80.20 1.05 2.37 0.012
Includes: Included interval Interval 5.20 183.11 2.16 5.32 0.014
Vein 3 Interval 3.45 273.82 3.22 7.97 0.016
DDH-BR-010 Composite mineralized
package Interval 20.03 74.76 2.44 0.60 0.004
Includes: Vein 3 Interval 5.99 95.35 1.98 0.59 0.007
Veinlet-breccia-
disseminated fill Interval 5.35 55.50 2.55 1.29 0.005
Vein 1 Interval 8.69 72.43 2.70 0.18 0.002
DDH-BR-011 Composite mineralized
package Interval 5.34 157.26 2.61 0.97 0.026
Includes: High-grade core Interval 1.40 514.57 7.35 0.62 0.050
Notes:
1. “Composite mineralized package” refers to the combined interval formed by Vein 1, Vein 3 and the intervening mineralized
fill of veinlets, breccias and disseminated sulphides, where recognized.
2. Estimated true widths are being calculated from the Company’s current geological interpretations and ongoing vein
modelling and may change as the interpretation is refined.
3. DDH-BR-005 was drilled well away from the main drill pattern. Because the local orientation of the vein system at the
intercept point is not yet sufficiently constrained, only apparent width is reported for that hole at this stage.
4. DDH-BR-004 intercepted an extension of a barren post-mineral dyke and is therefore not included in this report.
Table 3. Drill Intercept Summary from the Current Geological Interpretation at Blenda
Rubia
Hole ID From To
Apparen
t
width
(m)
Real
Width
(m)
Ag (g/T) Pb (%) Zn (%) Cu (%) Type
DDH-BR-
001 260.40 264.95 4.55 1.41 103.43 1.42 0.04 0.003 Comp. pkg
Includes: 260.40 263.10 2.70 0.83 79.94 0.87 0.04 0.002
263.50 264.95 1.45 0.45 175.14 2.82 0.05 0.005
DDH-BR-
002 366.20 368.40 2.20 0.75 102.73 1.27 0.02 0.002 Comp. pkg
DDH-DDH-
BR-003 186.70 241.55 54.85 17.86 79.86 0.77 0.13 0.004 Comp. pkg
Includes: 187.70 198.50 10.80 2.80 289.27 2.47 0.34 0.003 Vein 3
203.50 206.35 2.85 0.93 49.82 0.62 0.18 0.003 Vein 1
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Hole ID From To
Apparen
t
width
(m)
Real
Width
(m)
Ag (g/T) Pb (%) Zn (%) Cu (%) Type
206.35 215.55 9.20 3.00 52.84 0.65 0.04 0.007 Veinlet fill
217.75 225.35 7.60 2.47 48.15 0.60 0.07 0.003 Tensional
veins veins
DDH-BR-
005 443.40 478.75 35.35 Pending 94.92 1.82 1.25 0.233 Comp. pkg
Includes: 443.40 448.10 4.70 Pending 105.77 1.25 1.25 0.171 Undiff.
451.90 454.55 2.65 Pending 99.43 1.39 1.03 0.356 Undiff.
469.55 478.75 9.20 Pending 256.35 5.48 3.40 0.650 Undiff.
DDH-BR-
006 239.25 245.65 6.40 2.19 51.32 0.73 0.94 0.015 Comp. pkg
Includes: 239.25 240.35 1.10 0.38 151.60 1.72 0.98 0.051 Undiff.
243.35 244.45 1.10 0.38 113.64 1.86 3.98 0.003 Undiff.
DDH-BR-
007 275.77 283.94 8.17 1.42 92.35 0.73 0.04 0.002 Comp. pkg
Includes: 275.77 279.75 3.98 0.69 78.94 0.59 0.01 0.000 Vein 3
279.75 280.65 0.90 0.16 288.67 2.19 0.02 0.000 Veinlet fill
280.65 282.45 1.80 0.31 53.37 0.35 0.01 0.001 Vein 1
DDH-BR-
008 110.25 117.90 7.65 2.74 43.87 2.04 1.87 0.217 Veinlet fill
Includes: 135.00 148.00 13.00 4.66 80.20 1.05 2.37 0.011 Undiff.
135.00 138.45 3.45 1.24 273.82 3.22 7.97 0.016 Vein 3
146.72 148.00 1.28 0.50 37.96 0.68 0.70 0.010 Tensional
veins veins
148.00 152.70 4.70 1.84 — — — —
Vein 1
(mined-out)
DDH-BR-
009 163.50 214.48 50.98 16.60 38.51 0.77 0.54 0.007 Comp. pkg
Includes: 166.40 168.62 2.22 0.72 196.82 4.37 2.52 0.079 Tensional 3
175.65 181.07 5.42 1.76 94.80 1.42 1.37 0.001 Vein 3
190.75 194.75 4.00 1.17 3.95 0.10 0.10 0.003
Tensional 3-
1
209.80 214.48 4.68 1.37 121.16 1.44 0.12 0.006 Vein 1
DDH-BR-
010 165.04 185.07 20.03 6.85 74.76 2.44 0.60 0.004 Comp. pkg
Includes: 165.04 171.03 5.99 1.65 95.35 1.98 0.59 0.007 Vein 3
171.03 176.38 5.35 1.47 55.50 2.55 1.29 0.005 Veinlet fill
176.38 185.07 8.69 3.81 72.43 2.70 0.18 0.002 Vein 1
Reported apparent widths and estimated true widths are based on the Company’s current
geological interpretation and ongoing vein modelling. Estimated true widths may change
as the interpretation is refined DDH-BR-005 is reported only as apparent width because
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the local orientation of the vein system at the intercept location is not yet sufficiently
constrained to support a true-width estimate.
Note: “Composite package” refers to the combined interval formed by the two principal
veins and the intervening mineralized fill where these can be recognized within the drill
intercept. Rows labelled “Including” denote internal higher-grade or discrete component
intervals within the broader intercept. DDH-BR-004 intercepted an extension of a barren
post-mineral dyke and is not included in this table.
Quality Assurance and Quality Control (QA/QC)
Drill core from Blenda Rubia was logged, photographed, sawn and sampled by Silver X
personnel under Company protocols. Sample intervals were selected based on geological
criteria including veins, breccias, sulphide distribution and alteration intensity.
Analytical work referenced in this release was completed using both the Company’s internal
laboratory and Bureau Veritas (Peru), depending on the hole and sample batch. Silver X’s
QA/QC program includes the insertion of certified reference materials, blank s and
duplicates, together with chain-of-custody procedures and periodic external check assays.
As geological interpretation and vein modelling remain in progress, estimated true widths
referenced in this release are subject to refinement.
Qualified Person
Mr. A. David Heyl, B.Sc., C.P.G., 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 to 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 vary considerably, due to the absence of a detailed economic and technical analysis
in accordance with NI 43-101.
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About Silver X
Silver X is a growing silver producer building a multi-asset, district-scale precious metals
platform in Peru. The Company’s portfolio includes the Nueva Recuperada Project, a
district-scale land package of 20,795 hectares with two mining units and over 200
exploration targets, as well as the recently acquired Pampas Project, which further
enhances the Company’s scale and long-term growth potential.
Current production from the Tangana Mining Unit is increasing alongside the planned
restart of the Plata, Red Silver and Blenda Rubia mines, supporting a path toward
approximately 6 million AgEq ounces annually by 2029. The addition of the Pampas
Project strengthens the Company’s asset base and reinforces its strategy of evolving into
a scalable, district-wide multi-asset operator.
With existing production, scalable expansion opportunities, and significant exploration
upside across multiple assets, Silver X is positioning itself as a next-generation silver
company focused on growth, diversification, and long-term value creation.
ON BEHALF OF THE BOARD
José M. Garcia
CEO and Director
For further information, please contact:
Simon Willcocks
Investor Relations
+1 347 281 2514
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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