Silver X Mining Announces Termination of Asset Purchase Agreement for the Revenue-Virginius Mine Assets
SILVER X MINING CORP.
Suite 1430 – 800 West Pender Street | Vancouver, BC | V6C 2V6
Silver X Mining Announces Termination of Asset Purchase Agreement for
the Revenue-Virginius Mine Assets
Vancouver, BC, May 19, 2023 – Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F: AGX) ("Silver X" or the
"Company") reports that the asset purchase agreement (the “Agreement”) previously announced on April 17,
2023, to acquire the Revenue-Virginius Mine and certain related assets (collectively the “Assets”) from Alliance
Management LLC, as receiver under a court super vised receivership in Ouray County, Colorado (the
“Acquisition”) has been terminated.
“We have worked diligently on creating a plan for the acquisition of the Revenue Mine that would generate value
for all stakeholders involved,” stated José M. Garc ía, President and CEO of Silver X. “However, there are
circumstances beyond our control that have made it difficult to move forward. At this time, we are not willing to
contribute further funds to the receivership process as we are not confident in the process and must ensure
continued success of our core asset in Peru. We still believe in the viability of the Revenue Mine and remain open
to dialogue with local stakeholders in Ouray, Colorado, to find a mutually agreeable agreement on which to move
forward on.”
The Company believes the district has an unparalleled geological setting and remains interested in the acquisition
of the Assets. Silver X will continue to explore other viable options to move forward with the Acquisition.
About Silver X Mining Corp.
Silver X is a rapidly -expanding silver developer and producer. The Company owns the 20,000 -hectare Nueva
Recuperada Silver District in Central Peru and produces silver, gold, lead and zinc from the Tangana Mining Unit.
Our mission is to be a premier silver company delivering outstanding value to all stakeholders and we aim to
achieve this by consolidating and developing undervalued assets, creating value by adding resources and
increasing production while aspiring to social and environmental excellence. For more information visit our
website at www.silverxmining.com.
ON BEHALF OF THE BOARD
José M. García
President and CEO
For further information, please contact:
Fiona Grant Leydier
Vice President, Investor Relations and Corporate Marketing
T: +1 647 259 6901 x 101
Neither TSX Venture Exchange nor its Regulation Services P rovider (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, the Company exploring other options
to move forward with the Acquisition, results of operations 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 Nueva Recuperada 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 Nueva Recuperada 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
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.