July 3, 2024
Silver X Mining Appoints David Gleit as Chief Financial Officer
Vancouver, British Columbia, July 3, 2024 – Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F: AGX) (“Silver X” or the “Company“) today announced the appointment of David Gleit as Chief Financial Officer (CFO), effective immediately. David succeeds Jason Tong, who served as the Company’s interim CFO and who will remain with the Company as the corporate controller.
David brings more than 25 years of experience as a financial executive with a strong background in international mining, construction, and asset-management. He has advised and led financial strategy and operations for companies at various stages of growth and currently resides in Lima, Peru.
“We are delighted to welcome David as our new CFO,” said Silver X CEO José M. García. “His expertise in international mining and his impressive track record in strategic financial management will be essential as we expand our operations in Peru and refine our growth strategies. We are confident that David’s leadership will be integral in our ongoing efforts to become a leading silver producer.”
About David Gleit
Prior to joining Silver X, David served as an independent consultant, advising companies on strategic planning, finance, and administration. He previously held the position of CFO at Sierra Sun Group, a privately held group of Peruvian mining companies.
David also served as CFO and corporate strategy & risk officer at STRACON, a Peruvian-based provider of integrated mining and construction services throughout the Americas. At Volcan Compañía Minera, one of the world’s leading producers of silver & zinc, David served as Corporate Development Officer, responsible for Volcan’s growth strategy, including M&A. David became the investor relations officer for Volcan, developing the Company’s first investor relations department, receiving top IR honours by Institutional Investor magazine readers in 2015 and 2017.
David holds an MBA in Finance from Drexel University and a BA from the University of Vermont. He is certified in NI 43-101 Technical Reports for Mining Projects and IFRS Accounting for Mining. David was both a director and founding member of CFA Society Peru and is a member of the Institute of Mining Engineers of Peru.
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.
