Silver X Announces Management Transition and Share Issuance

VANCOUVER, BC / ACCESSWIRE / August 8, 2024 / SILVER X MINING CORP. (TSXV: AGX) (OTCQB: AGXPF) (F: AGX) ("Silver X" or the "Company") wishes to announce that Sebastian Wahl will be stepping down as Vice President, Corporate Development of the Company to pursue other opportunities. Mr. Wahl will remain a director of the Company.

In connection with this transition and his consulting agreement with the Company, the Company has agreed to issue Mr. Wahl an aggregate of 1,261,956 common shares of the Company at a price of C$0.23 per share. The issuance of the shares is subject to the approval of the TSX Venture Exchange and will be subject to a four-month hold period.

"We are exceptionally thankful to Sebastian Wahl for all his contributions to the company since its inception. As one of the founders of Silver X, his collaboration has been instrumental in achieving many of our key milestones," stated Jose M. Garcia, CEO of Silver X. "Sebastian will remain engaged as Director and one of the largest shareholders of Silver X."

About Silver X Mining

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 its Tangana Project. We are building a premier silver company that aims to deliver outstanding value to all stakeholders, consolidating and developing undervalued assets, 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
CEO and Director

For further information, please contact:

Susan Xu
Investor Relations
[e-mail]
[phone]

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 Company will be able to mine the Tangana Mining Unit in an economic manner, and the expected financial performance of the Company.