Silver X Mining Announces Non-Brokered Private Placement of Up To C$2.0 Million

All dollar amounts reflected in Canadian dollars unless otherwise stated.

VANCOUVER, BC / ACCESSWIRE / March 21, 2024 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") announces a non-brokered private placement (the "Private Placement") of up to 11,111,111 units (the "Units") at a price of $0.18 per Unit for gross proceeds of up to $2,000,000. Each Unit will be comprised of one (1) common share (a "Share") and one half (1/2) of one Share purchase warrant (a "Warrant") with each whole Warrant entitling the holder to purchase one Share of the Company at a price of $0.30 per Share for a period of 36 months from the date of closing of the Private Placement (the "Closing Date").

Finders' fees of 6 per cent cash and 6 per cent finder's warrants may be payable to eligible parties. The Company intends to use the net proceeds from the Offering for capital expenditures and exploration related to the Nueva Recuperada Silver District in Peru (the "Project") and potential acquisitions of assets. See News Release February 27, 2024: "Silver X Announces Upcoming Developments in the Plata Mining Unit in Addition to the Current Production."

The securities being offered under the Offering will be issued pursuant to applicable exemptions from the prospectus requirements under applicable securities laws and will be subject to a hold period that will expire four months and one day from the Closing.

Closing of the proposed Offering is anticipated to occur on or about March 29, 2024. Closing of the Offering is subject to receipt of all necessary regulatory approvals including acceptance of the TSX Venture Exchange.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Silver X Mining Corp.
Silver X is a rapidly-expanding silver developer and producer in the Americas. 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.