WRPSF - WRPSF STOCK NEWS

Silver X Mining Corp. (OTCQB:WRPSF) has approved a debt settlement of up to CAD$1,668,518 through the issuance of up to 5,296,882 common shares at a deemed price of $0.315 per share to Baker Steel Resources Trust Limited. This settlement addresses the principal amount of a US$1 million note along with accrued interest and fees. The prior settlement focused on interest, issuing 593,536 shares. Approval from the TSX Venture Exchange is required, and all shares will have a four-month hold period post-issuance.

Silver X Mining Corp. announces successful channel sampling results from the Cauca vein at its Nueva Recuperada project, Huancavelica, Peru. The vein extends 1.77 km with an average width of 1.8 m, yielding grades up to 1,296 g/t AgEq and an average of 236 g/t AgEq. This project benefits from existing infrastructure, promising low-cost expansion. The company plans a drill campaign in Q1 2022 to further explore the vein and enhance resource estimates. Preliminary 2022 budgeting includes 10,000 m of underground drilling to assess over 500,000 tonnes of potentially economic mineralization.

Silver X Mining has received environmental approval to expand its Nueva Recuperada polymetallic concentrate plant's capacity by 20%, from 600 tpd to 720 tpd. This increase will leverage the Tangana 1 & 2 veins and the new Tangana West vein system for enhanced concentrate production, expected to generate additional cash flow for exploration and resource upgrades. Full commissioning is anticipated by December 31, 2021. The current drilling program has identified a new 200m x 200m silver-polymetallic zone, reinforcing the company's growth strategy.

Silver X Mining Corp. (OTC Pink: WRPSF) has initiated an update to the Environmental and Social Impact Assessment (ESIA) for its Nueva Recuperada Project to expand processing capacity from 600 tpd to 2,500 tpd. This update aims to support an increase in silver production to 5 Moz annually by 2024. The ESIA process, crucial for maintaining the company's social license, includes community consultations and comprehensive impact evaluations. The updated application is set for submission in May 2022, with anticipated approval the following year.

Silver X Mining Corp has acquired the Tangana West silver project, covering 250 hectares, which hosts high-grade silver-polymetallic veins. Surface channel samples yielded grades of up to 9,379 g/t Ag, 2.7% Pb, and 1% Zn. This acquisition extends the controlled strike length of the Tangana silver-polymetallic system to over 3.0 kilometers. Silver X will pay a monthly fee of USD $5,000 or a 4% production royalty for mining rights, whichever is greater. The acquisition is expected to enhance Silver X's production potential in the Nueva Recuperada district.

Silver X Mining Corp. (OTC Pink: WRPSF) announced significant findings from its Tangana 1 vein in Huancavelica, Peru, extending known mineralization by 200 metres vertically and 130 metres horizontally. Assay results revealed high-grade values, including gold at 70.88 g/t and silver up to 2,034 g/t, with a peak of 7,232.83 g/t AgEq. The company anticipates further potential with a 25,000 metre drill campaign alongside channel sampling efforts, emphasizing the area's substantial silver-polymetallic potential.

Silver X Mining Corp. (OTC PINK:WRPSF) announced a change in its fiscal year-end from February 28 to December 31, aligning with its peers for better financial comparison. The transition will result in a ten-month transitional fiscal period ending December 31, 2021, with quarterly reports commencing in 2022. The first transitional quarter report is expected in November 2021. This change aims to enhance clarity in financial reporting for investors.

Silver X Mining Corp. has completed four drill holes totaling 1,091 metres in its ongoing resource expansion campaign at the Tangana mining unit. Significant assay results include 928.13 g/t AgEq over 1.38 metres in hole DDH-TN-2021-003 and 631.71 g/t AgEq over 0.92 metres in DDH-TN-2021-004. The drilling confirms extensive high-grade silver-polymetallic mineralization at Tangana 1, which feeds the operating Recuperada plant, generating $6.5M in concentrate sales in 2021. The ongoing 25,000-metre drill program aims to expand resource knowledge and upgrade the inferred resource quality.

Silver X Mining Corp. (OTC Pink: WRPSF) announced significant updates for its Tangana Mining Unit in Peru, highlighting an inferred resource of 4,840,015 tonnes grading 116.33 g/t Ag. Historical production from the site between 1959 and 1976 totaled 269,129 tonnes. The company is undertaking a 25,000-meter drill program to enhance resource quality and has commenced underground infrastructure development. In H1 2021, Silver X sold USD $6.5M in polymetallic concentrate, offsetting exploration costs. The company aims to increase plant capacity from 600 tpd to 720 tpd.