October 3, 2023
Silver X Announces Changes to Leadership Team with Appointment of Jason Tong as CFO
Vancouver, BC, October 3, 2023 — Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F:AGX) (“Silver X” or the “Company”), a rapidly expanding silver developer and producer in Central Peru, is pleased to announce the appointment of Mr. Jason Tong as Chief Financial Officer (“CFO”) of Silver X Mining Corp. effective October 1st, 2023.
Mr. Tong brings over a decade of executive leadership and corporate finance expertise, having worked with growing public companies on the TSX, TSXV, and Nasdaq. He has held the position of CFO and taken on advisory roles within the mining and finance sectors. Prior to this, Mr. Tong served as the CFO of Pathway Capital Ltd, a venture capital firm overseeing a portfolio of early-stage ventures with market capitalizations between $5M and $100M. Earlier in his profession, he functioned as a senior auditor at Deloitte & Touche LLP, offering both assurance and tax services. Mr. Tong is a Chartered Professional Accountant (CPA, CA) and also holds the Chartered Financial Analyst (CFA) designation.
“We are delighted to have Mr. Tong join the Silver X executive team. His extensive financial experience and knowledge of the company is a tremendous asset as we transition into our next growth phase,” commented José García, CEO of Silver X.
Concurrent with Mr. Tong’s appointment, Mr. Ronald Mariño has chosen to step down as CFO to explore other business ventures. Silver X’s Board of Directors extends their heartfelt appreciation for Mr. Mariño’s significant contributions and wishes him success in his future endeavors.
About Silver X
Silver X is a growing silver producer building a multi-asset precious metals platform in Peru. The Company’s portfolio includes the Nueva Recuperada Project, a district-scale land package of 20,795 hectares with three mining units and more than 200 exploration targets, as well as the recently acquired Pampas Project.
With existing production, scalable expansion opportunities, and significant exploration upside, Silver X is positioned for continued growth and long-term value creation. 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
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 Note Regarding Production without Mineral Reserves
The decision to commence production at the Nueva Recuperada Project and the Company’s ongoing mining operations as referenced herein (the “Production Decision and Operations”) are based on economic models prepared by the Company in conjunction with management’s knowledge of the property and the existing estimate of mineral resources on the property. The Production Decision and Operations are not based on a pre-feasibility study or a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with the Production Decision and Operations, in particular: the risk that mineral grades will be lower than expected; the risk that additional construction or ongoing mining operations are more difficult or more expensive than expected; and production and economic variables may vary considerably.
Cautionary Statement Regarding “Forward-Looking” Information
This press release contains forward looking information within the meaning of applicable Canadian securities legislation (“forward looking information”). Forward looking information is generally identified by words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “targets”, “believes”, or similar expressions, including statements that certain events or results “may”, “could”, “would” or “will” occur. All statements other than historical facts constitute forward looking information, including, without limitation, statements regarding the Mineral Resource Estimate, the conversion of Inferred resources, future drilling, the 2025 PEA and an updated PEA, the expansion and permitting of the Recuperada plant, and the Company’s growth plans.
Forward looking information is based on a number of assumptions, including that general economic and business conditions will not materially worsen; commodity demand and prices will remain stable or improve; required permits and approvals will be obtained on a timely basis; operations will not be materially disrupted by accidents, labour issues or equipment failures; financing will be available; equipment and supplies will be accessible as needed; resource estimates and underlying assumptions (including size, grade and recovery) are reasonable; and the Company will be able to attract and retain qualified personnel and execute its strategic objectives.
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 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. 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.
