SILVER X MNG CORP - AGXPF STOCK NEWS

Silver X Mining Corp. announces a non-brokered private placement of up to 10,000,000 units at a price of $0.30 per unit for gross proceeds of up to $3,000,000. The company intends to use the net proceeds for capital expenditures and exploration related to the Nueva Recuperada Silver District in Peru and potential acquisitions of assets. The closing of the offering is subject to regulatory approvals.

Silver X Mining Corp. has entered into an asset purchase agreement to acquire the Revenue-Virginius Mine and related assets in Ouray, Colorado, from Alliance Management LLC. The acquisition, valued at US$4.5 million, is subject to District Court approval and other conditions. The RV Mine, a past-producing silver project, is in a pre-production stage and equipped with existing infrastructure, allowing for a low-cost advancement. Silver X plans to leverage its team's expertise from operations in Peru to conduct a 12- to 18-month exploration program at the mine. The acquisition aligns with Silver X's strategy of broadening its portfolio while maintaining a focus on core operations in Peru.

Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF) reported revenues of $13.9 million for the fiscal year 2022, a 237% increase from FY 2021. Q4 2022 revenues also rose to $3.9 million, up 216% year-over-year.

The company achieved commercial production at the Nueva Recuperada project's Tangana Mining Unit in January 2023, with robust production metrics, including 302,386 AgEq ounces produced in Q4 2022. Despite disruptions from road closures in Peru, production has stabilized.

Cash costs for Q4 2022 were $14.6 per AgEq ounce, while All-In-Sustaining Costs were $21.5 per AgEq ounce. The operational momentum is expected to build through 2023, focusing on maximizing production and exploration potential at the Nueva Recuperada Silver District.

Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF) has filed an independent technical report titled "Nueva Recuperada, Huancavelica, Peru. Preliminary Economic Assessment" following its January news release. The report, dated April 4, 2023, provides a preliminary economic assessment for the Tangana Mining Unit extension. It includes updated mineral resource grades but maintains the same tonnage as previously reported. The effective date for mineral resources is corrected to October 31, 2022, from February 13, 2023. The report highlights several categories of mineral resources, including a total of 3.61 million tonnes measured and indicated, and 11.89 million tonnes inferred. The results emphasize the speculative nature of inferred resources and the associated risks as production decisions are not based on proven reserves.

Silver X Mining Corp. (AGXPF) announced positive results from a Preliminary Economic Assessment (PEA) for its Tangana Mining Unit, part of the Nueva Recuperada Silver District. The PEA, compliant with NI 43-101 standards, indicates plans to triple production capacity from 720 to 2,220 tonnes per day by 2026. Key highlights include upgraded mineral resources of 3.60 Mt Measured and Indicated from 0.98 Mt, demonstrating a 300% increase. The project has a life of mine of 12 years with an after-tax NPV of $175 million and an IRR of 39%. Initial capital costs are estimated at $61 million, supporting the company's growth ambitions.

Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) has appointed Fiona Grant Leydier as Vice President of Investor Relations and Corporate Marketing. With 17 years of experience, including a previous role at Great Panther Mining, she aims to enhance stakeholder communications. The Company will grant her 150,000 stock options, with vesting based on her tenure. Approval from the TSX Venture Exchange is pending. Silver X operates the Tangana silver project in Peru, focusing on creating shareholder value.

Silver X Mining Corp. (TSX-V:AGX)(OTC QB:AGXPF) announces participation in two key investment conferences: the Metals Investor Forum on January 27-28 and the Vancouver Resource Investment Conference on January 29-30, 2023. Investors can engage with management for insights on the company's milestones and catalysts. Silver X is advancing its Tangana project in Central Peru, aimed at producing over 5 Moz AgEq by 2025. The company declared commercial production in January 2023, following successful operations in 2022.

Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF) announced significant production results for Q4 and H2 2022 from its Tangana mining unit in Peru, declaring commercial production effective January 2023. In H2 2022, the company processed 874,662 oz AgEq, a 181% increase from the previous year, and produced 673,458 oz AgEq, up 159%. For Q4 2022, production reached 302,386 oz AgEq, a 101% increase compared to Q4 2021. The company is optimistic about future production stability but acknowledges potential short-term grade variations. Minor logistical disruptions were reported, but the plant is expected to return to full capacity soon.