Silver X Mining Corp. Announces Strategic Restructuring of Royalty for Gross Proceeds of US$2.42 Million

VANCOUVER, BC / ACCESSWIRE / November 28, 2023 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company"), a rapidly expanding silver developer and producer in Central Peru, is pleased to announce that Silver X and Maverix Metals Inc. ("Maverix"), a subsidiary of Triple Flag Precious Metals Corp. ("Triple Flag"), have entered into an agreement amending the terms of the original royalty agreement between the parties to, among other things, expand the royalty to cover the entire Tangana Mining Unit (the "Mine") in the Nueva Recuperada Mining District in Central Peru.

"This partnership with Triple Flag represents a positive shift in our royalty strategy, positioning Silver X for future growth," stated José M. García, CEO of Silver X. "Beyond the financial flexibility provided by the Agreement, this partnership underscores Triple Flag's confidence in our asset and our team."

Highlights of the Royalty Agreement (the "Agreement"):

• Royalty Restructuring: The prior 3.0% NSR royalty, which covered only a portion of the Mine, will be replaced by a more comprehensive 3.0% NSR royalty that spans the entire Mine.
• Purchase Agreement: Triple Flag will pay an aggregate consideration of US$2,420,000 to be comprised of US$1,670,000 of cash and an offset of amounts to be paid under the royalty agreement through the end of 2023.
• Strategic Rights Secured: Triple Flag has also been granted both a Right of First Refusal and a Right of First Offer over future royalty or stream-like financings, highlighting Triple Flag's confidence in the long-term value and potential of the Mine.

About Silver X Mining Corp.
Silver X is a rapidly expanding silver developer and producer in Central Peru. The Company owns the +20,000-hectare Nueva Recuperada Silver District in Central Peru and produces silver, gold, lead, and zinc from the district's 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.