Silver X Delivers Record Quarterly Production During the Second Quarter of 2026

Processed tonnage increased 39% quarter-over-quarter and 78% year-over-year, as the Nueva Recuperada plant sustained nominal capacity through the quarter.

Gold production rose 55% quarter-over-quarter and 233% year-over-year, with silver up 40% and 75% respectively.

Vancouver, British Columbia, July 9, 2026 – SILVER X MINING CORP. (TSX-V: AGX) (OTCQX: AGXPF) (F: AGX) (“Silver X” or the “Company”), a precious-metals exploration, development, and production company operating a multi-asset platform in Peru, is pleased to announce its production results for the second quarter ending June 30, 2026 (“2Q26”) at the Company’s Nueva Recuperada property (the “Project”) in Peru.

Second Quarter 2026 Production Highlights

• Processed tonnage increased to 62,252 MT in 2Q26, up 39% from 44,883 MT in 1Q26 and up 78% from 34,899 MT in 2Q25, as processing capacity continued to ramp at the Nueva Recuperada plant. The plant averaged approximately 684 MT per day during the quarter, with April reaching approximately 751 MT per day, meeting the plant’s nominal capacity of 750 MT per day.
• Silver ounces processed increased to 175,560 oz in 2Q26, up 40% from 125,195 oz in 1Q26 and up 75% from 100,193 oz in 2Q25, driven by higher throughput.
• Gold ounces processed rose to 2,204 oz in 2Q26, up 55% from 1,419 oz in 1Q26 and up 233% from 663 oz in 2Q25, driven by higher throughput and gold head grades averaging 1.10 g/t as the Company targeted higher-value zones.
• Silver equivalent ounces (AgEq) processed reached 380,436 oz and AgEq produced reached 283,029 oz in 2Q26, up 50% and 57% respectively over 1Q26.
• Underground development totaled 3,159 metres in 2Q26 (compared to 2,440 metres in 1Q26), enhancing access to additional mining areas and supporting sustained production growth.
• First half 2026 production reached approximately 634,000 AgEq oz processed and 463,000 AgEq oz produced, consistent with the Company’s path toward approximately 6 million AgEq ounces annually by 2029.

“The second quarter confirms the operational step forward we signaled at the end of the first quarter,” said José M. Garcia, CEO of Silver X. “Lifting throughput 39% quarter-over-quarter while sustaining nominal plant capacity, together with a 55% increase in gold production, demonstrates the operating leverage of Nueva Recuperada as we continue to invest in our mining and processing capacity and advance toward our next growth targets.”

The production performance in 2Q26 reflects the continued ramp of mining and processing capacity at Nueva Recuperada. Following the milestone reached in March, when the plant first achieved nominal capacity, throughput was sustained through the second quarter at nominal capacity, translating into materially higher metal production quarter-over-quarter.

Growth in the quarter was driven primarily by higher plant throughput as Nueva Recuperada reached and sustained nominal capacity, with head grades broadly stable quarter-over-quarter. These results position the Company for continued production growth throughout 2026, as it further optimizes mining flexibility and continues to invest in its operations and plant capacity expansion.

Nueva Recuperada Project Production

Notes:
¹Silver equivalent ounces processed is a measure of performance with no prescribed definition under IFRS. Refer to the “Non-IFRS Measures” section of this press release.
²AgEq 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 Q2 2026, AgEq was calculated using metal prices of US$73.85 per oz Ag, US$4,528 per oz Au, US$0.88 per lb. of Pb and US$1.56 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.