November 16, 2023
SILVER X REPORTS A TWELVE-YEAR EXTENSION OF ITS SOCIAL AGREEMENT WITH THE COMMUNITY OF HUACHOCOLPA.
EFFECTIVE PERIOD 2023-2035
Vancouver, BC, November 16, 2023 — Silver X Mining Corp. (TSX-V: AGX) (OTCQB: AGXPF) (F:AGX) (“Silver X” or the “Company”), a rapidly expanding silver developer and producer in Central Peru, is pleased to announce a 12-year extension of its social agreement (the “Agreement”) with the local Huachocolpa (Huancavelica, Peru) community, solidifying relations and enabling continued operations at the Nueva Recuperada Project (the “Project”) until November 2035.
Agreement Highlights:
- Became effective on November 6, 2023, granting twelve additional years of operational activities.
- Encompasses all areas including the Nueva Recuperada Processing Plant, Tangana Mining Unit, and the Red Silver Mining Unit.
- Demonstrates Silver X’s commitment to engaging and supporting local businesses, with up to 23 companies actively involved in the current operations.
- Incorporates social development initiatives focusing on education, health, agriculture, livestock, and local employment.
José García, CEO of Silver X commented: “Our commitment to sustainable development and supporting the local community and businesses has been instrumental in our rapid growth since the inception of our operations. This extension of our agreement with the Huachocolpa community is a requirement to increase our production capacity from 720 tonnes per day to 2,220 tonnes with an additional 1,500 tpd mill as outlined in the Preliminary Economic Assessment (PEA) published on February 14, 2023.”
“This agreement will serve as the cornerstone for a period of close collaboration between the Company and our local stakeholders, as Silver X aspires to be the partner of choice for developing mining projects in the Andean region. Our guiding principle is ‘Sustainable Development Through Mining,’ as reflected in our inaugural Sustainability Report published earlier this year.” José García, CEO of Silver X added.
About Silver X
Silver X is a silver producer building a district-scale precious metals platform in central Peru. Its flagship Nueva Recuperada Silver District includes current production, development opportunities, and significant exploration potential. With a clear path to increased throughput and a pipeline of high-grade targets, Silver X is positioned for continued growth and long-term value creation. For more information visit our website at www.silverxmining.com.
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On Behalf of the Board
José M. García
CEO and Director
For further information, please contact:
Investor Relations
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”, “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 exploration plans, operating results, expected project performance, the potential for resource expansion at Tangana, the economic viability of the Tangana Mining Unit, and the Company’s expected financial performance.
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, as the case may be, 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. Forward- looking statements are based on the opinions and estimates of management as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, 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.
