Silver X Mining Corp .
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SILVER X MINING CORP .
Suite 1012 – 1030 West Georgia Street | Vancouver,
BC | V6E 2Y3
Silver X Mining Announces Strategy Update to Mineral Resource for
2024-2025 Following Social Agreement Signing
Vancouver, British Columbia, May 23, 2024 - Silver X Mining Corp. (TSX-V: AGX)
(OTCQB: AGXPF) (F: AGX) ("Silver X" or the "Company") is pleased to announce the
signing of a 15-year social agreement with the Community of Carhuapata in
Huancavelica in Peru. This in addition with the 12-year agreement with the Community
of Huachocolpa signed on November 6, 2023. This new social contract grants Silver X
Mining access to the totality of the Plata Mining Area.
Highlights of the Agreement
• Duration: The 15-year agreement encompasses 100% of the project, providing
ample area for the planned expansion and development activities.
• Exploration and Mining: Allows exploration and mining with no restriction within
the area of the agreement.
• Strong Support: The unanimous approval by Carhuapata’s Community assembly
highlights the strong social support to Silver X’s activities in the district.
"This agreement with the Carhuapata community marks another significant milestone in
our efforts to activate and rejuvenate an entire mining district. Plata holds enormous
potential and is crucial for the organic growth of our company,” said Silver X CEO Jose
Garcia.
Company’s Development Strategy
• Exploration Data: Consisting of a historical mining area, Silver X has compiled
geological information from approximately 30,0000 meters of existing drill core
and 8,000 meters of underground samples.
• High-grade veins: historical data shows the existence of several high-grade silver
and polymetallic veins, some of which were subject to mining in the past century.
• Upcoming Resource: The Company anticipates producing a resource update
before the end of 2024.
• District Scale Development: This new development area is expected to boost
SilverX’s resource development and mining activities to the full district potential.
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The Plata mining area is a part of the Nueva Recuperada Silver District and is a
significant component of Silver X Mining’s growth strategy. This area spans over 3,829
hectares and includes 17 surface-exposed mineralized veins, offering substantial
exploration potential. Historical data indicate rich silver-polymetallic deposits, with a
non-compliant historical inferred resource of 448,812 tonnes grading 220.81 g/t Ag,
2.55% Pb, and 4.58% Zn. (See Preliminary Economic Assessment, Nueva Recuperada
Project, Huancavelica, Peru, April 4, 2023.)
“The support from Carhuapata is instrumental as we harness this potential, driving
shared prosperity for both the community and Silver X Mining. We are enthusiastic
about the future and confident in the transformative impact this project will have on our
operations and the local region," said Garcia.
About Silver X Mining Corp.: Silver X Mining Corp. is a premier silver mining company
with a focus on exploration, development, and production in South America. Our
flagship asset, the Nueva Recuperada Silver District in Peru, is positioned in a prolific
silver-producing region, with extensive high-grade silver, gold, lead, and zinc
mineralization. Our mission is to deliver outstanding value to stakeholders through
sustainable and socially responsible mining practices.
ON BEHALF OF THE BOARD
José M. Garcia, CEO and Director
For further information, please contact:
Sebastian Wahl
Vice President, Corporate Development
+1 647 259 6901 x 101
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 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
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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 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.