October 30, 2025
SILVER X ENGAGES INDEPENDENT STRATEGIC CONSULTING FIRM AND APPOINTS GENERAL MANAGER
Vancouver, BC, October 30, 2025 – Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F: AGX) (“Silver X” or the “Company”) is pleased to announce that it has engaged, an independent strategic advisory firm, co-led by Ernesto Balarezo and Patricia Kosa, and has appointed Ricardo Martínez as General Manager, effective immediately. These steps reinforce Silver X’s commitment to operational excellence, cost discipline and a clear path toward profitable, sustainable production.
“As we enter the next stage of Silver X’s transformation, our focus is on efficiency, reliability, and disciplined growth,” said José María García, Chief Executive Officer. “Engaging an independent strategic advisory team – co-led by partners Ernesto Balarezo and Patty Kosa – adds proven strategic and operational depth, while Ricardo’s appointment strengthens day-to-day execution. Together, these steps sharpen our ability to deliver sustainable, long-term profitability.”
Strategic Advisor
The independent firm has been engaged on a mandate-based, non-exclusive basis to support Silver X’s operational transformation, organizational effectiveness and performance management programs. The partners will work with the CEO and the General Manager to strengthen execution and embed accountability across the business.
Ernesto Balarezo, Partner, has 30+ years of executive experience in the mining sector worldwide. He has served as General Manager and Vice President of Operations at Hochschild Mining, Vice President for Gold Fields for the Americas, and most recently as Chief Executive Officer of Sierra Metals, where he led a major operational turnaround that significantly increased the company’s market value prior to its sale.
Patricia Kosa, Partner, is a Corporate lawyer and strategic advisor with 20+ years in the mining sector across the Americas. Former Vice President Legal at Sierra Metals; previously legal & compliance Director for Gold Fields in the Americas. Focus on governance, compliance, sustainability, turnarounds and complex cross-border transactions.
Appointment of General Manager
Mr. Martínez has been engaged with Silver X for the past two years in leadership and advisory roles. A specialist in talent development and organizational strategy, he is recognized for building high-performance teams and embedding accountability and strategic execution across operations. As General Manager, he will focus on organizational alignment and the disciplined execution of Silver X’s business plan.
Together, these strategic appointments will support the CEO and Silver X’s operational team to guide organizational improvement and performance management initiatives. Silver X will continue to update the market on key milestones as operational programs are implemented and results achieved.
Stock Options
To further align leadership with shareholder interests, the Company intends to issue up to 450,000 stock options to this team, vesting over the next 12 months in accordance with the Company’s equity incentive plan and subject to TSX Venture Exchange approval.
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 filing of a technical report, an updated PEA, the evaluation of processing capacity beyond 3,000 tpd, the production profile contemplated in the 2025 PEA including average and peak annual production, the suitability of bulk underground mining methods and their expected costs, mine life, the achievement of a 1,000 tpd run rate, the timing of permits including the ESIA update to 1,500 tpd, future drilling and the conversion of Inferred resources, financing discussions, 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.
