June 9, 2026
Silver X Mining Corp. Announces Appointment of Joseph Gallucci to Board of Directors
Vancouver, British Columbia, 9 June 2026 – Silver X Mining Corp. (TSX-V: AGX) (OTCQB: 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 the appointment of Mr. Joseph Gallucci, MBA, ICD.D, to its Board of Directors, effective immediately.
Mr. Gallucci is a senior capital markets executive and corporate director with over 20 years of experience in investment banking and equity research, focused on the global mining sector across precious metals, base metals, critical metals and bulk commodities.
He currently serves as Managing Director and Head of Mining Investment Banking at Ventum Financial. Over his career he has held senior roles at BMO Capital Markets, GMP Securities and Dundee Securities, was a founding principal of Eight Capital, where he led the firm’s mining investment banking team, and most recently oversaw the entire investment banking practice at Laurentian Bank Securities. He has been directly involved in raising several billion dollars for mining companies and has acted as lead advisor on a number of significant M&A transactions.
Earlier in his career, Mr. Gallucci spent over a decade in equity research covering the global mining sector at GMP Securities and Dundee Securities, where he served as Managing Director and Head of the Metals and Mining Research Team. He also currently serves as a director of several publicly listed mining companies.
Mr. Gallucci holds a Bachelor of Commerce from Concordia University and an MBA in Investment Management from the Goodman Institute of Investment Management and holds the ICD.D designation from the Institute of Corporate Directors. In 2021, he was named one of Concordia University’s Top 50 Under 50.
José M. Garcia, CEO of Silver X, commented: “We are very pleased to welcome Joseph to our Board. His deep expertise in capital markets and M&A, combined with decades of experience advising and financing mining companies around the world, will be invaluable as Silver X continues to scale production and execute its district-scale growth strategy in Peru. His insight and relationships will strengthen our access to capital at a pivotal stage in the Company’s development.”
Joseph Gallucci commented: “I have followed Silver X’s progress closely and have high regard for what the management team has built. The Company has a well-defined growth strategy, a quality asset base, and the financial discipline to execute on it. Having spent my career advising and financing resource companies, I believe Silver X is at an exciting inflection point and am honored to join the Board. I look forward to working alongside management to drive the Company’s financing strategy, capital markets positioning and long-term value creation for shareholders.”
Mr. Gallucci’s appointment is expected to strengthen the Company’s capital markets capability, corporate governance and strategic reach at a time when Silver X is focused on scaling production, advancing multiple mining fronts and pursuing long-term value creation across its asset base.
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.
