January 27, 2026
Silver X Mining Launches Brokered Private Placement of Up To C$60M in Convertible Debentures
Vancouver, British Columbia, January 27, 2026 – Silver X Mining Corp. (TSX-V: AGX | F: AGX) (“Silver X” or the “Company”) is pleased to announce that it has entered into an agreement with Ventum Financial Corp. as sole agent and sole bookrunner (the “Agent“), in connection with a “best efforts” private placement offering by the Company (the “Offering”) of up to C$60 million aggregate principal amount of secured convertible debentures of the Company (the “Convertible Debentures“).
In addition, the Company has granted the Agent an option to increase the size of the Offering by up to 15% of the number of Convertible Debentures, exercisable by the Agent, in whole or in part, at any time up to three business days prior to the closing of the Offering.
The principal amount of the Convertible Debentures will bear interest at a fixed rate of 10.0% per annum, payable semi-annually and will mature on the date that is five years from the Closing Date (as defined herein) (the “Maturity Date“). For the first 24 months the Company may elect to pay interest in cash or shares at the Company’s sole discretion and thereafter interest will be paid in cash.
The principal amount of each Convertible Debenture will be convertible, at the election of the holder, into Common Shares at a conversion price of C$1.62 per common share (the “Conversion Price“) at any time until the earlier of (i) the business day preceding the Maturity Date, and (ii) the date of repayment in full of the principal amount of the Convertible Debentures and all accrued and unpaid interest thereon.
The principal amount of each Convertible Debenture will be convertible, at the election of the holder, into Common Shares at a conversion price of C$1.62 per common share (the “Conversion Price“) at any time until the earlier of (i) the business day preceding the Maturity Date, and (ii) the date of repayment in full of the principal amount of the Convertible Debentures and all accrued and unpaid interest thereon.
Silver X intends to use the net proceeds of the Offering for development, working capital and for general corporate purposes.
The Offering is expected to close on or about February 18, 2026 (the “Closing Date”) and remains subject to satisfaction of certain conditions, including the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued under the Offering will be subject to a hold period under applicable Canadian securities laws expiring four months and one day from the closing date of the Offering.
José García, President and CEO of Silver X, commented:
“This financing, when completed, will provide Silver X with the financial platform we need to advance the Nueva Recuperada Property and continue executing on our strategic vision to become a meaningful and competitive silver producer. We look forward to working with Ventum towards the successful completion of the Offering.”
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the Convertible Debentures in the United States. The Convertible Debentures 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, qualified under a prospectus in Canada, 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
The Convertible Debentures may not be offered or sold in Canada except pursuant to exemptions from the prospectus requirements of applicable Canadian provincial and territorial securities laws.
About Silver X
Silver X is a growing silver producer building a multi-asset, district-scale precious metals platform in Peru. The Company’s portfolio includes the Nueva Recuperada Project, a district-scale land package of 20,795 hectares with two mining units and over 200 exploration targets, as well as the recently acquired Pampas Project, which further enhances the Company’s scale and long-term growth potential.
Current production from the Tangana Mining Unit is increasing alongside the planned restart of the Plata, Red Silver and Blenda Rubia mines, supporting a path toward approximately 6 million AgEq ounces annually by 2029. The addition of the Pampas Project strengthens the Company’s asset base and reinforces its strategy of evolving into a scalable, district-wide multi-asset operator.
With existing production, scalable expansion opportunities, and significant exploration upside across multiple assets, Silver X is positioning itself as a next-generation silver company focused on growth, diversification, and long-term value creation.
On Behalf of the Board
José M. García
CEO and Director
For further information, please contact:
Simon Willcocks
Investor Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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.
The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable or improving price for the commodities we produce; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company’s operations at the Project and Nueva Recuperada Plant; the availability of financing for operations and development; the Company’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; that the estimates of the resources at the Project and the geological, operational and price assumptions on which these and the Company’s operations are based are within reasonable bounds of accuracy (including with respect to size, grade and recovery); the Company’s ability to attract and retain skilled personnel and directors; and the ability of management to execute strategic goals.
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, as the case may be, 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.sedar.com from time to time. Forward- looking statements are based on the opinions and estimates of management as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, 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.
