May 12, 2026
Silver X Mining Begins Trading on OTCQX, Expanding Access to U.S. Investors
Silver X is advancing its growth strategy in Peru, supported by current production
and expansion opportunities at Nueva Recuperada.
The OTCQX® upgrade reflects Silver X’s ability to meet elevated financial,
governance and disclosure standards as it scales.
Vancouver, British Columbia, May 12, 2026 – Silver X Mining Corp. (TSX-V: AGX | OTCQX: AGXPF | F: AGX) (“Silver X” or the “Company”), a rapidly growing silver producer developing a district-scale platform in Peru, today announced that it’s common shares have commenced trading on the OTCQX® Best Market (“OTCQX”), effective today, under the symbol “AGXPF.” Silver X has graduated to OTCQX from the OTCQB® Venture Market (“OTCQB”), marking an important milestone in the Company’s capital markets strategy and enhancing its visibility and accessibility to U.S. institutional and retail investors.
Investors can find current financial disclosure and real-time Level 2 quotes for the Company at www.otcmarkets.com.
Strategic Step Toward a Broader Capital Markets Platform
“This is an important step in positioning Silver X as a recognized silver growth story in the U.S. market,” said Jose Garcia, President, Chief Executive Officer, and Director of Silver X Mining Corp. “We are building a scalable, district-scale platform in Peru with current production, near-term growth visibility, and significant exploration upside. Trading on OTCQX expands our reach to a broader U.S. investor audience, strengthens our access to capital markets, and supports the next phase of growth at our Nueva Recuperada Silver Project. With production at our Tangana Mining Unit, immediate development opportunities, and meaningful brownfield expansion potential across our district-scale land package, we believe Silver X is well positioned to build a premier silver company and deliver long-term value for shareholders.”
Positioned for Near-Term Growth and Long-Term Scale
Silver X is actively advancing its Nueva Recuperada Silver District in central Peru, a 20,000+ hectare land package with multiple mining units and over 200 exploration targets. The Company is currently processing approximately 750 tonnes per day, with a clear path to increase throughput to 1,000 tonnes per day, supported by operational improvements and high-grade feed from satellite deposits.
Key growth drivers include:
- Tangana Mining Unit, the current production hub, with ongoing optimization and development
- Near-plant satellite deposits, including high-grade opportunities such as Blenda Rubia and Red Silver
- District-wide exploration upside, with over 200 targets across a consolidated land package
- Recently acquired Pampas Project, a high-grade gold-silver asset with potential to become a second production center
This integrated, multi-asset approach positions Silver X to evolve from a single-operation producer into a district-scale silver company with multiple production sources and processing hubs.
Building a Scalable Multi-Asset Platform
Silver X’s strategy centers on consolidating and advancing the broader Huancavelica district into a scalable, long-life mining platform supported by existing infrastructure, near-plant development opportunities, and district-wide exploration potential. The Company is focused on increasing metal production through higher throughput and grade optimization, advancing satellite deposits to supplement plant feed, and unlocking additional value through district consolidation and exploration.
Enhanced Visibility in the U.S. Market
OTCQX is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best-practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to OTCQX enhances Silver X’s accessibility and visibility with U.S. investors as the Company continues to advance production, resource growth, and development opportunities at Nueva Recuperada.
Silver X will continue to trade on the TSX Venture Exchange under the symbol AGX, maintaining its Canadian market presence alongside its growing U.S. profile.
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 two 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
NON-IFRS MEASURES
The Company has included certain non-IFRS financial measures and ratios in this news release, as discussed below. The Company believes that these measures, in addition to measures prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. These financial measures and ratios do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to other issuers.
EBITDA and Adjusted EBITDA
“EBITDA” is comprised as income (loss) less interest, income tax and depreciation and amortization. Management believes that EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company. See “Reconciliation of Net (Loss) / Income to Adjusted EBITDA” for a quantitative reconciliation of EBITDA to the most directly comparable financial measure.
“Adjusted EBITDA” is comprised as income (loss) less interest, income tax, depreciation, amortization, share-based compensation, foreign exchange gain (loss), and certain non-recurring or non-cash items where applicable. Management believes that Adjusted EBITDA is a useful indicator for investors, and is used by management, in evaluating the operating performance of the Company.
Cash Costs and All-In Sustaining Cost (“AISC”)
The Company uses cash costs, cash costs per AgEq ounce produced, AISC, and AISC per AgEq ounce produced to manage and evaluate its operating performance in addition to IFRS measures because the Company believes that conventional measures of performance prepared in accordance with IFRS do not fully illustrate the ability of its operations to generate cash flows. Management and certain investors also use this information to evaluate the Company’s performance relative to peers who present this measure on a similar basis.
Cash costs are calculated by starting with cost of sales, and then adding treatment and refining charges, and changes in depreciation and amortization. Cash costs per AgEq ounce is calculated by dividing cash costs by the AgEq ounces produced. AISC and AISC per AgEq ounce produced are calculated based on guidance published by the World Gold Council and used as a standard of the Silver Institute. AISC is calculated by taking the cash costs and adding sustaining costs. Sustaining costs are defined as capital expenditures and other expenditures that are necessary to maintain current production. Management has exercised judgment in making this determination.
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. The 2025 Preliminary Economic Assessment referred to in this news release is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that its results will be realized. 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 timing and achievement of a 1,000 tpd run rate, expected unit cost reductions, exploration plans and results, the timing of permits, the sufficiency of the Company’s capital resources, and the production and economic outcomes contemplated by the 2025 Preliminary Economic Assessment.
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.
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.
