January 8, 2026
Silver X Delivers Production Growth During the Fourth Quarter of 2025
Vancouver, British Columbia, January 08, 2026 – SILVER X MINING CORP. (TSX- V: AGX) (OTCQB: AGXPF) (F: AGX) (“Silver X” or the “Company“), is pleased to announce its operating results for the fourth quarter ending December 31, 2025 (“4Q25”) at the Company’s Nueva Recuperada property (the “Project”) in Peru.
4Q 2025 Production Highlights
- Processed tonnage increased to 41,635 tonnes in 4Q25, up from 33,505 tonnes in 3Q25, representing a 24% quarter-over-quarter increase.
- Silver equivalent ounces (“AgEq”) processed rose to 266,995 oz in 4Q25, compared to 227,315 oz in 3Q25–a 17% sequential improvement–driven primarily by higher throughput while maintaining consistent head grades.
- The increase in silver equivalent ounces was achieved despite higher average silver prices in 4Q25, which averaged approximately US$55/oz compared to US$40/oz in 3Q25, demonstrating operational stability and grade consistency.
- Gold production increased to 667 ounces in 4Q25, up from 398 ounces in 3Q25, representing a 67% quarter-over-quarter increase.
“This quarter marks an important step forward in Silver X’s operational ramp-up” said José M. Garcia, CEO of Silver X. “We delivered strong sequential growth in throughput and production while maintaining grade consistency, validating the investments we’ve made in development and operational coordination. The increase in gold production further strengthens our revenue mix and cash flow profile. As we continue to open new mining fronts and advance our 40,000-meter drilling program, we are positioning Nueva Recuperada for sustained production growth and meaningful district-scale value creation.”
The strong performance in 4Q25 reflects Silver X’s ongoing focus on increasing mining and processing capacity, improving mine access and development, and executing on its operational growth strategy at Nueva Recuperada. Continued investment in underground development, combined with improved operational coordination, has positioned the Company for further production growth in upcoming quarters.
The Company’s previously announced 40,000-meter drilling program, together with sustained development of new mining fronts, is expected to support both near-term production growth and longer-term resource expansion across the district.
Nueva Recuperada Project Production
Quarter ending December 31, 2025, compared to September 30, 2025
Notes:
(1) Measure of performance with no prescribed definition under IFRS. Refer to the “Non-IFRS Measures” section of this press release.
(2) AgEq ounces produced were calculated based on all metals produced using the average sales prices of each metal for each month during the period. Revenues from concentrate sales does not consider metallurgical recoveries in the calculations as the metal recoveries are built into the sales amounts. In Q4 2025, AgEq was calculated using metal prices of US$55.56 per oz Ag, US$4,168 per oz Au, US$0.89 per lb of Pb and US$1.44 per lb of Zn.
Please see “Cautionary Note regarding Production without Mineral Reserves” at the end of this news release.
Qualified Person
Mr. A. David Heyl, B.Sc., C.P.G who is a qualified person under NI 43-101, has reviewed and approved the technical content of this news release for Silver X. Mr. A. David Heyl is a consultant for Silver X.
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 preliminary economic assessment, 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, due to the absence of a detailed economic and technical analysis in accordance with NI 43-101.
About Silver X
Silver X is a silver producer building a district-scale precious metals platform in central Peru. Its flagship Nueva Recuperada Silver District includes current production, development opportunities, and significant exploration potential. With a clear path to increased throughput and a pipeline of high-grade targets, Silver X is positioned for continued growth and long-term value creation. For more information visit our website at www.silverxmining.com.
About OTC Markets Group Inc.
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On Behalf of the Board
José M. García
CEO and Director
For further information, please contact:
Investor Relations
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”, “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 exploration plans, operating results, expected project performance, the potential for resource expansion at Tangana, the economic viability of the Tangana Mining Unit, and the Company’s expected financial performance.
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, 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.sedarplus.ca 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.
