June 24, 2025
Silver X Mining Secures A US$2M Loan Facility With Trafigura For The Production Of Additional Copper Concentrates
Vancouver, British Columbia, June 24, 2025 – Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F: AGX) (“Silver X” or the “Company“) is pleased to announce it has secured a US$2,000,000 prepayment facility (the “Facility”) and copper offtake agreement (the “Offtake”) for its Nueva Recuperada project with Trafigura PTE Ltd. (“Trafigura”).
“The execution of this expanded offtake agreement with Trafigura marks a key milestone for Silver X, positioning us to unlock meaningful value from our growing production profile. This transaction reflects Trafigura’s confidence in our ability to deliver as a reliable and scalable producer in Peru,” stated Jose Garcia, CEO of Silver X.
“For our investors, this agreement not only strengthens our balance sheet through access to flexible capital but also supports the acceleration of development at our project, particularly on mine development and the construction of a third flotation circuit. We continue to work on financing our imminent growth, focusing on non-dilutive funding to avoid or minimize shareholders dilution going forward. We anticipate additional positive news soon.”
Transaction Details
The US$2,000,000 Facility will be drawn in tranches. The Facility carries an interest rate of SOFR plus 6%, with an expected repayment term of 20 months from the date of initial drawdown. As part of the financing terms, Silver X will issue 2.5M warrants, exercisable for a period of up to 25-months at an exercise price representing a 25% premium to the 20-day volume-weighted average price (VWAP) on the TSX.V as of the signing date.
Under the terms of the expanded Offtake agreement, Silver X will sell 100% of the copper concentrate produced at the Nueva Recuperada project to Trafigura from the start of copper production through April 2029. This new agreement builds on the existing offtake arrangement for Nueva Recuperada and reflects the continued partnership between the two companies. Proceeds will be used for the implementation of a third flotation circuit at the Recuperada plant to produce copper concentrates with silver and gold contents, as well as for mine development and working capital.
Completion of the transaction is subject to, among other things, execution of definitive documentation and TSX Venture Exchange acceptance.
About Trafigura
Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. It deploys infrastructure, market expertise and a worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. Trafigura invests in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through H2Energy Europe and joint venture Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and the Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries. Visit: www.trafigura.com
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.
