Silver X Mining Corp .
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SILVER X MINING CORP .
Suite 1012 – 1030 West Georgia Street | Vancouver, BC | V6E 2Y3
SILVER X ANNOUNCES LOAN AGREEMENT
& MANAGEMENT UPDATE
Vancouver, British Columbia – February 19, 2025 – Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F:
AGX) (“Silver X” or the “Company”), a rapidly growing Peruvian silver producer-developer, is pleased to
announce the execution of a loan facility agreement with Trafigura PTE Ltd. (“Trafigura”), a global leader
in commodity trading.
The loan provided to Recuperada S.A.C. (“Recuperada”), a wholly owned subsidiary of Silver X, will be used
for capital expenditures and working capital. Under the loan facility an amount of up to US$1.4 million is
available to Recuperada with a tenor of up to 25 months . Interest payable to Trafigura is based on the
secured overnight financing rate (SOFR) plus 6% per annum. The loan facility agreement includes
covenants and events of default customary for a transaction of this nature. Silver X will provide a parent
company guarantee, and the loan facility will be secured by first-ranking security over mining equipment
and concessions owned by Recuperada.
As part of the loan facility, Silver X will also issue a loan bonus of 1,500,000 common share purchase
warrants (the “Warrants”) of the Company to an affiliate of Trafigura, Urion Holdings (Malta) Limited. The
Warrants are subject to a hold period, under Canadian securities laws, expiring four months and one day
from the date of issuance, exercisable for an equivalent of common shares for a period of 25 months at a
25% premium to the 20-day VWAP of Silver X’s shares on the TSX.V as of the day before announc ing the
signing date. The loan facility agreement and issuance of the Warrants is subject to approval from the TSX
Venture Exchange.
Management Update
Silver X announces the retirement of Freddy Mayor, its Chief Operating Officer (COO), who played an
important role overseeing operational strategies driving the Company’s growth . Silver X CEO, Jose M.
Garcia, remarked, “Freddy’s expertise and commitment have been invaluable in bringing the Tangana
Mining Unit into commercial production and advancing the development of the Nueva Recuperada
Project. We are thankful and extremely grateful to Freddy for his dedication and contributions. On behalf
of the Board of Directors and our entire staff, I wish Freddy the very best in his retirement. In the interim,
I will assume the responsibilities of COO, as we continue aligning our resources with our strategic goals,
focusing on increasing production and profitability.”
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About Silver X Mining Corp.
Silver X is a rapidly growing silver producer-developer. The Company owns the 20,472 -hectare Nueva
Recuperada Silver Project in Central Peru and produces silver, gold, lead and zinc from its Tangana Mining
Unit. Silver X is building a premier silver company aiming to deliver outstanding value to all stakeholders,
consolidating and developing undervalued assets, adding resources, and increasing production while
aspiring to sustain the communities that support us and stewarding the environment. Current production,
paired with immediate development and brownfield expansion opportunities, present investors with the
opportunity to invest in the early stages of a silver producer with strong growth prospects. For more
information visit our website at www.silverxmining.com.
On Behalf of the Board
José M. García
CEO and Director
For further information, please contact:
Susan Xu
Investor Relations
+1 778 323 0959
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
results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. All information
contained in this pr ess 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,
TSX Venture Exchange and regulatory approvals for the loan facility agreement, use of proceeds from the
loan facility agreement, exploration plans, results of operations, expected performance at the Project,
expectations related to production and profitability of the Company’s mining assets, 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
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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.sedarplus.ca 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 anticipate d 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.