Silver X Intersects up to 3,814 g/t AgEq over 0.4 Meters During Channel Sampling at Tangana During Ongoing Resource Definition Program

Rhea-AI Summary

Silver X Mining Corp. (OTCQB: WRPSF) announced promising results from its Tangana Mining Unit. Surface channel sampling identified two high-grade mineralized zones with grades of 1,034 g/t AgEq over 2 m and 3,814 g/t AgEq over 0.4 m. The ongoing exploration program has extended mineralization over 1.7 km horizontally and 400 m vertically, with plans for 10,000 metres of diamond drilling starting December 2021. Current inferred resources stand at 4,840,015 tonnes grading 116.33 g/t Ag, 3.35% Pb, and 1.63% Zn. An updated resource estimate is targeted for Q2 2022.

Positive

• High-grade mineralization discovered with 1,034 g/t AgEq over 2 m and 3,814 g/t AgEq over 0.4 m.
• Significant expansion of mineralization, extending 1.7 km horizontally and 400 m vertically.
• Inferred resource of 4,840,015 tonnes at 116.33 g/t Ag, 3.35% Pb, and 1.63% Zn.
• Planned diamond drilling of 10,000 metres to start in December 2021.
• Updated resource estimate and Preliminary Economic Assessment targeted for completion in Q2 2022.

Negative

• None.

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• Surface channel sample results from the outcropping Tangana structure identify 2 high-grade mineralized zones.
• Assay results include 1,034 g/t AgEq over 2 m and 3,814 g/t AgEq over 0.4 m
• Results from diamond drilling, surface and underground channel sampling indicate that Tangana is a well-developed and potentially economically mineralized structure with considerable resource potential.
• High-priority resource extension drill targets are to be assessed with 10,000 metres of diamond drilling beginning in December 2021.

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / SILVER X MINING CORP. (TSXV:AGX)(OTCQB:WRPSF) ("Silver X" or the "Company") is pleased to provide an update on resource definition studies being conducted at the Company's Tangana Mining Unit. The comprehensive exploration program has expanded the extent of silver-(gold)-polymetallic mineralization at surface and underground by over 1.7 km horizontally and 400 m vertically along the Tangana structure. The three faceted programme that includes diamond core drilling, surface and underground channel sampling has identified two potential high-grade mineralized zones that will be the focus of immediate follow-up work. The results from the 475 underground channel samples, 388 surface channel samples, and 2,853 metres of diamond drilling completed to date will contribute to an updated mineral resource estimate and Preliminary Economic Assessment targeted for completion in Q2 2022.

Surface channel sample results along the outcropping portions of the Tangana and Morlupo veins confirm the presence of high-grade mineralization along a consistently mineralized strike length of 1.7 km (see Table 1). These results, along with those taken from underground channel samples in historical workings (reported September 3, 2021) and diamond drill core samples (reported August 23, 2021), support the Company's interpretation that Tangana is a potentially economically mineralized silver-(gold)-polymetallic structure with considerable resource potential. The Tangana vein-field currently has an inferred resource of 4,840,015 tonnes of inferred resource grading 116.33 g/t Ag, 3.35% Pb and 1.63% Zn¹. Figure 1 shows select sampling results, mine infrastructure, and high priority resource extension exploration targets. The central resource extension targets will be assessed with approximately 10,000 metres of diamond drilling beginning in December 2021.

Figure 1: Long-section and plan view of the Tangana 1 silver-polymetallic vein project showing current underground development, silver-(gold)-polymetallic mineralization extension potential, past-producing mined-out stopes, locations of recently reported drill hole intercepts and channel sample results. To see the figure in full size click here: https://www.silverx-mining.com/211129agxtanisovalue

Mineralization in the Tangana structure is interpreted to have been introduced along the lithological contact between adjoining andesitic domes and magmatic breccias. The semi-planar structure has been channel sampled at surface where it outcrops along its 1.7 km strike length. Underground channel sampling has been conducted in newly developed workings as well as accessible historic workings.

Figure 2: 3-Dimensional view of the Tangana Mining Unit, showing the location of key structures and surrounding infrastructure.

There are an additional 5 potentially economically mineralized silver-(gold)-polymetallic structures located in the immediate vicinity of the Tangana structure, see Figure 2. Towards the north, the Cauca vein structure is interpreted to have a strike-length of 2.2 kilometres and an average width of 1.8 metre. Recent results from surface channel sampling (See Table 1, below) infer that Cauca has an average grade of 264 g/t AgEq (100 g/t Ag, 1.2 g/t Au, 1.6% Pb and 0.5% Zn). This sub-parallel vein is connected to Tangana by a 450 m long underground crosscut which will dramatically reduce further exploration and development costs in the system. The recently acquired Tangana West property (see September 22, 2021 News Release) lies westwards and along strike from Tangana and may be an extension of the same underlying structure. The Tangana West mineralized structure extends 1.3 kilometres along strike and based on field observation is interpreted to be vertically continuous for over 500 metres. Surface channel sample results return grades up to 9,379 g/t Ag, 2.7% Pb and 1% Zn over 1.5 metres.

"The continued high-grade and consistently mineralized results are a good indication of the silver-(gold)-polymetallic potential at the Tangana Mining Unit", said José Garcia, Chief Executive Officer of Silver X. "The ongoing resource definition programme that includes diamond drilling, systematic channel sampling, and structural mapping, has encountered multiple prospective mineralized zones that will form the basis for an updated resource estimate and Preliminary Economic Assessment targeted for Q2 2022. Furthermore, these well-defined mineral zones will be utilized to increase concentrate production at the Recuperada processing plant in the near term as we concurrently expand capacity. A strong 2021 has set Silver X up for an impressive new year."

Sampling, Analytical Analysis, Quality Assurance and Quality Control (QAQC)

Drill core from all underground drill holes is extracted in lengths of 1.52 meters (5 feet) and stored on-site in appropriate core trays in a secure Company core-shed. Drill hole orientation, downhole survey data, and collar coordinates are registered. When the extracted core has been measured and marked up, it is then geologically and geotechnically logged. Sampling of all mineralized structures encountered in the drill core is done from start to finish of the mineralized structure. Minimum sample length is 30 centimeters. No sample collected through potentially economic mineralized intersections is longer than 50 centimeters. Sterile country rock hosting the mineralized structure is sampled for a minimum of 1.0 meter either side of the structure. The interval to be sampled is split by rock-saw and taking care not to allow contamination of the sample, carefully stored in a plastic bag. Samples have unique number identifiers for "chain of custody" tracking of samples and for subsequent incorporation into the database once QAQC sign-off on analytical results has been received. Depending on the diameter, length, and bulk density of the core sample, approximately 4-8 kg of sample are collected for analysis per one metre length of sample.

Rock-chips from all surface and underground channel sampling are taken perpendicularly across silver-gold-polymetallic structures and stored on-site in clearly labelled plastic sample-bags in a secure storage facility attached to the Company core-shed. Channel sample length and start-finish coordinates are registered. The geological description of the sample is recorded. Where mineralized veins and structures are fully exposed, sampling is done from one side of the mineralized structure to the other. Minimum sample length is 30 centimeters. No sample collected

through potentially economic mineralized intersections is longer than 1 meter. In case both sides of the mineralized structure are exposed, sterile country rock hosting the mineralized structure may

be sampled for up to 1.0 meter either side of the structure. Taking care not to allow contamination of the sample, the underground channel sample is collected with the use of a hammer and chisel and carefully stored in a plastic bag. Samples have unique number identifiers for "chain of custody" tracking of samples and for subsequent incorporation into the database once QAQC sign-off on analytical results has been received. Depending on the width, length, and bulk density of the channel sample, approximately 4-8 kg of sample are collected for analysis per one metre length of sample.

All samples are shipped by Company 4x4 vehicle from the field to the certified and independent Certimin analytical laboratory facility in Lima. Certimin complies with ISO 9001, OHSAS 18001 and is a fully recognized and certified facility. After the underground channel samples have been prepared for analysis (code G0640), the sample pulps are then analyzed for gold, silver, and multi-elements using relevant Certimin analytical methodologies. All samples are analyzed using 30 g nominal weight fire assay with an ICP finish (code G0108) and multi-element four acid digest ICP-AES/ICP-MS methodology (code G0176). Where Au analytical results from G0108 are >10 g/t, the analysis is repeated with 30 g nominal weight fire assay and a gravimetric finish (code G0014). Where multi-element results from G0176 are greater than 100 ppm for Ag, the analysis is repeated with ore-grade four acid digest method (Code G0002). Where multi-element results from G0176 are greater than 10,000 ppm for Cu, Pb or Zn, the analysis is repeated with ore-grade four acid digest methods, respectively codes G0039, G0077 and G0388. Periodically, duplicate sample pulps are sent to independent umpire laboratories for review and checking of Certimin analytical analyses results.

Silver X Mining has introduced a NI 43-101 compliant quality assurance/quality control (QAQC) protocol on all its advanced and exploration projects. Our trained QAQC staff insert both fine and coarse blank samples, field duplicates and twin samples into each batch of field samples prior to delivery to the independent certified analytical laboratory. These QAQC samples, including the random insertion of certified reference material, are designed to provide an independent check on precision, accuracy, and possibilities of contamination during sample preparation and analytical procedure within the elected commercial laboratory. With the objective of assuring best practice compliance, resource and exploration related assay results are not reported until the results of internal QAQC procedures have been reviewed and approved.

Table 1: Tabulated summary of principal silver-gold-polymetallic grades intersected during surface channel sampling.

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
TN2-CN1	80421	499609	8561086	4730	1	0.11	33.7	0.00	0.22	0.04	51
	80422	499609	8561087	4730	1	0.30	313.0	0.00	0.72	0.39	376
	Total Length (m)										1.0
	Channel Grade										213
TN2-CN2	80424	499615	8561081	4726	0.7	0.10	31.4	0.00	0.43	0.52	76
	80425	499615	8561081	4726	0.7	0.47	616.0	0.00	9.11	0.89	979
	Total Length (m)										1.4
	Channel Grade										527
TN2-CN3	80428	499631	8561077	4717	1	0.27	39.2	0.00	0.95	0.97	133
	80429	499631	8561077	4717	1	0.13	240.0	0.00	1.07	0.31	298
	Total Length (m)										2.0
	Channel Grade										215
TN2-CN4	80432	499649	8561076	4708	0.6	0.51	119.0	0.00	0.36	0.08	172
	80433	499649	8561074	4708	0.7	0.22	17.4	0.00	0.37	0.42	64
	Total Length (m)										1.3
	Channel Grade										114
TN2-CN5	80435	499263	8561305	4971	0.8	0.24	12.6	0.00	0.53	0.44	67
	Total Length (m)										0.8
	Channel Grade										67

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
TN2-CN6	80438	499268	8561298	4954	1	0.25	20.7	0.00	0.19	0.04	47
	80440	499269	8561299	4954	1	0.54	159.0	0.00	4.87	0.12	359
	Total Length (m)										2.0
	Channel Grade										203
TN2-CN7	80443	499276	8561293	4913	1	0.10	12.1	0.00	0.57	0.10	42
	80444	499277	8561294	4913	1	0.33	40.5	0.00	1.16	0.46	123
	80446	499275	8561293	4913	1	0.66	40.4	0.00	1.22	0.33	143
	Total Length (m)										3.0
	Channel Grade										102
TN2-CN8	80447	499290	8561282	4907	1	10.42	260.0	0.00	11.01	2.31	1,483
	80448	499290	8561283	4907	1	1.05	195.0	0.00	7.45	1.74	586
	Total Length (m)										2.0
	Channel Grade										1,034
TN2-CN9	80510	499588	8561092	4753	0.9	0.50	780.0	2.89	2.28	0.25	1,270
	80511	499588	8561092	4753	0.9	0.54	227.0	1.50	2.28	0.48	553
	80512	499589	8561093	4753	0.9	0.18	504.0	0.29	4.64	1.90	786
	80514	499588	8561091	4753	1	0.14	214.0	0.37	1.94	0.22	343
	Total Length (m)										3.7
	Channel Grade										727
TN2-CN10	80516	499593	8561091	4740	1	0.16	131.0	0.56	0.36	0.05	228
	80517	499594	8561091	4740	1	1.28	116.0	0.33	0.78	0.17	285
	80518	499594	8561092	4740	1	2.38	417.0	0.34	4.44	0.26	789
	80519	499595	8561093	4740	1	0.40	686.0	1.71	2.22	0.85	1,043
	80521	499593	8561090	4740	1	0.08	55.7	0.05	0.51	0.05	85
	Total Length (m)										5.0
	Channel Grade										486
TN2-CN11	80523	499592	8561084	4740	0.6	0.14	17.2	0.03	0.95	0.29	75
	Total Length (m)										0.6
	Channel Grade										75
TN2-CN12	80526	499582	8561096	4748	0.8	0.21	39.5	0.26	0.59	0.08	111
	Total Length (m)										0.8
	Channel Grade										111
TN2-CN13	80530	499576	8561101	4753	0.7	0.10	11.4	0.07	0.56	0.13	51
	80531	499576	8561101	4753	0.7	0.02	10.5	0.01	0.79	0.81	74
	Total Length (m)										1.4
	Channel Grade										62

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
TN2-CN14	80534	499565	8561103	4760	0.6	0.98	120.0	0.08	12.34	8.33	965
	Total Length (m)										0.6
	Channel Grade										965
TN2-CN15	80538	499325	8561268	4897	0.35	0.36	26.9	0.04	1.71	0.44	133
	80539	499326	8561269	4897	1	0.09	4.0	0.00	0.20	0.55	42
	Total Length (m)										1.4
	Channel Grade										66
TN2-CN17	80543	499341	8561253	4890	0.15	0.30	246.0	2.30	1.24	3.03	737
	Total Length (m)										0.2
	Channel Grade										737
TN2-CN18	80546	499351	8561247	4886	0.3	0.02	3.0	0.01	0.26	0.47	35
	Total Length (m)										0.3
	Channel Grade										35
TN2-CN19	80551	499298	8561286	4905	1	0.17	36.9	0.02	1.93	2.48	224
	80552	499298	8561287	4905	1	0.20	10.4	0.01	0.28	0.42	54
	80553	499297	8561285	4905	1	0.16	7.1	0.00	0.36	0.24	41
	Total Length (m)										3.0
	Channel Grade										107
TN2-CN20	80554	499308	8561278	4939	0.6	0.34	79.7	0.42	0.83	0.62	213
	80555	499308	8561278	4939	1	0.05	4.8	0.05	0.05	1.06	63
	Total Length (m)										1.6
	Channel Grade										119
TN2-CN21	80557	499317	8561271	4913	0.5	1.31	185.0	0.71	3.00	10.65	944
	Total Length (m)										0.5
	Channel Grade										944
TN2-CN22	80549	499369	8561242	4879	0.3	0.05	209.0	0.06	9.77	0.16	538
	80851	499369	8561241	4879	1	0.01	5.0	0.01	0.14	0.57	37
	Total Length (m)										1.3
	Channel Grade										153
TN2-CN24	80853	499386	8561232	4872	0.8	0.55	217.0	0.18	12.45	9.75	1,111
	Total Length (m)										0.8
	Channel Grade										1,111

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
TN2-CN25	80856	499392	8561224	4868	0.4	4.88	2028.0	0.62	21.95	14.54	3,814
	Total Length (m)										0.4
	Channel Grade										3,814
TN2-CN26	80588	499400	8561218	4889	0.8	3.94	254.0	0.39	10.61	5.81	1,164
	Total Length (m)										0.8
	Channel Grade										1,164
TN2-CN27	80590	499406	8561212	4882	0.7	1.44	152.0	0.40	3.78	1.25	477
	80591	499407	8561213	4882	0.6	0.80	196.0	0.51	7.67	12.50	1,079
	Total Length (m)										1.3
	Channel Grade										755
TN2-CN28	80594	499412	8561207	4876	0.7	0.05	3.3	0.01	0.15	0.18	20
	80595	499413	8561207	4876	0.6	0.11	9.2	0.01	0.79	0.09	46
	80596	499413	8561207	4876	1	0.53	1.8	0.02	0.01	0.03	46
	Total Length (m)										2.3
	Channel Grade										38
TN2-CN29	80598	499419	8561200	4834	0.7	0.35	356.0	1.12	18.96	2.13	1,183
	80599	499419	8561200	4834	0.7	0.32	460.0	0.48	34.39	4.17	1,756
	Total Length (m)										1.4
	Channel Grade										1,469
TN2-CN30	80960	499428	8561189	4881	0.9	0.11	1595.0	0.00	1.54	4.29	1,831
	80961	499429	8561190	4881	0.9	0.10	270.0	0.00	0.41	0.45	309
	Total Length (m)										1.8
	Channel Grade										1,070
TN2-CN31	80964	499435	8561186	4839	0.75	0.05	418.0	0.00	1.54	0.98	509
	80965	499436	8561187	4839	0.75	0.11	31.0	0.00	0.03	0.06	43
	80966	499437	8561188	4839	0.75	1.16	262.0	0.00	0.74	0.30	385
	Total Length (m)										2.3
	Channel Grade										312
TN2-CN32	80970	499448	8561181	4885	0.6	0.48	254.0	0.00	0.32	0.49	321
	80971	499448	8561181	4885	0.55	0.47	1477.0	0.00	2.88	2.82	1,718
	Total Length (m)										1.2
	Channel Grade										989
TN2-CN34	80973	499479	8561159	4811	1	0.00	77.0	0.01	0.06	0.16	86
	Total Length (m)										1.0
	Channel Grade										86

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
TN2-CN36	80975	499494	8561146	4803	1	0.00	242.0	0.00	0.07	0.26	256
	Total Length (m)										1.0
	Channel Grade										256
TN2-CN42	80982	499544	8561118	4774	0.9	0.03	70.0	0.01	0.02	0.19	82
	80984	499544	8561118	4774	0.9	0.12	41.0	0.00	0.59	0.02	69
	Total Length (m)										1.8
	Channel Grade										75
TN2-CN43	80987	499561	8561108	4770	0.6	0.05	43.0	0.00	0.32	0.20	65
	80988	499561	8561107	4770	0.6	0.18	159.0	0.00	0.57	0.83	226
	80989	499560	8561106	4771	1	0.04	49.0	0.00	0.22	0.20	67
	Total Length (m)										2.2
	Channel Grade										110
MOR-CN1	80559	499064	8561455	4981	0.9	15.81	219.0	0.34	15.64	15.75	2,586
	Total Length (m)										0.9
	Channel Grade										2,586
MOR-CN2	80561	498975	8561492	5053	1	0.59	18.0	0.02	0.24	1.08	118
	Total Length (m)										1.0
	Channel Grade										118
MOR-CN3	80563	498947	8561514	5061	0.5	1.76	107.0	0.14	2.16	15.32	970
	80564	498947	8561514	5061	1	0.36	13.4	0.02	0.30	0.10	56
	Total Length (m)										1.5
	Channel Grade										360
MOR-CN4	80566	498943	8561519	5063	0.4	0.11	15.6	0.11	1.05	1.66	140
	80567	498943	8561519	5063	1	1.31	53.5	0.03	0.91	0.30	196
	Total Length (m)										1.4
	Channel Grade										180
MOR-CN5	80570	498937	8561528	5043	0.4	0.40	343.0	0.10	5.88	8.12	906
	Total Length (m)										0.4
	Channel Grade										906
MOR-CN6	80573	498933	8561535	5040	0.3	0.98	121.0	0.26	5.90	16.56	1,104
	80574	498933	8561535	5040	1	0.02	1.0	0.00	0.01	1.37	61
	80575	498932	8561534	5040	1	0.21	5.9	0.03	0.16	0.59	55
	Total Length (m)										2.3
	Channel Grade										195

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
MOR-CN7	80577	498929	8561544	5036	0.6	0.61	30.5	0.05	0.92	3.43	255
	Total Length (m)										0.6
	Channel Grade										255
MOR-CN8	80580	498916	8561558	5024	0.6	0.54	388.0	0.31	11.55	2.73	930
	Total Length (m)										0.6
	Channel Grade										930
MOR-CN9	80872	498937	8561528	4970	1	1.19	156.0	0.02	1.93	0.40	323
	80873	498933	8561535	4970	1	2.18	202.0	0.09	7.65	9.96	1,028
	Total Length (m)										2.0
	Channel Grade										676
MOR-CN10	80877	498878	8561596	4985	1	0.79	275.0	0.04	13.59	0.35	763
	80878	498879	8561597	4985	1	0.19	35.0	0.01	1.05	0.04	84
	80879	498880	8561598	4985	1	0.22	10.1	0.01	0.39	0.03	40
	80880	498880	8561599	4985	1	1.29	275.0	0.01	7.23	0.07	594
	80882	498881	8561599	4985	1	2.06	275.0	0.07	4.04	0.41	578
	Total Length (m)										5.0
	Channel Grade										412
	80885	498869	8561610	4960	1	0.32	76.6	0.02	2.57	0.14	187
MOR-CN11	80886	498870	8561611	4960	1	0.86	59.3	0.04	2.02	0.55	213
	80887	498869	8561609	4960	1	2.89	144.0	0.01	1.81	0.11	422
	80888	498868	8561608	4960	1	0.24	4.8	0.01	0.14	0.03	29
	80889	498867	8561606	4960	1	0.45	237.0	0.04	3.22	0.13	379
	80891	498868	8561607	4960	1	0.55	112.0	0.03	2.31	0.21	235
	80892	498867	8561605	4960	1	0.67	129.0	0.03	5.37	0.14	350
	80893	498866	8561604	4960	1	0.24	7.6	0.00	0.57	0.02	44
	80894	498866	8561604	4960	1	0.48	17.3	0.01	0.40	0.02	67
	80895	498865	8561603	4960	1	3.64	454.0	0.28	3.11	3.61	1,009
	80897	498865	8561602	4960	1	1.07	210.0	0.07	10.91	5.00	839
	80898	498864	8561601	4960	1	0.79	36.6	0.02	0.41	0.14	116
	Total Length (m)										12.0
	Channel Grade										324

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
MOR-CN12	81003	498851	8561610	4890	1	0.74	26.2	0.02	1.24	0.08	125
	81004	498851	8561609	4890	1	1.01	150.0	0.06	3.28	0.63	360
	81005	498851	8561608	4890	1	0.13	6.0	0.01	0.36	0.07	30
	81007	498850	8561607	4890	1	0.72	139.0	0.24	6.83	1.99	513
	81008	498850	8561606	4890	1	0.79	91.0	0.10	3.44	0.20	275
	Total Length (m)										5.0
	Channel Grade										261
MOR-CN13	81010	498849	8561605	4890	1	1.72	148.0	0.06	1.62	0.58	359
	81011	498848	8561604	4890	0.9	0.21	25.1	0.02	1.12	0.12	81
	Total Length (m)										1.9
	Channel Grade										227
MOR-CN14	81013	498840	8561614	4990	1	0.51	48.9	0.11	2.22	0.50	188
	81014	498839	8561614	4990	1	0.90	171.0	0.08	1.57	1.20	346
	Total Length (m)										2.0
	Channel Grade										267
MOR-CN15	81017	498813	8561623	4944	0.7	1.40	18.0	0.01	0.11	0.20	136
	81019	498813	8561622	4944	0.7	0.27	6.7	0.00	0.25	0.10	39
	81020	498813	8561624	4944	1	0.15	1.9	0.01	0.12	1.38	76
	81021	498812	8561622	4944	1	0.02	0.7	0.06	0.04	1.07	56
	Total Length (m)										3.4
	Channel Grade										75
MOR-CN16	81022	498821	8561619	4944	1.05	0.47	227.0	0.13	9.94	4.37	763
	81025	498821	8561618	4927	1	0.40	2.1	0.02	0.10	1.06	82
	Total Length (m)										2.1
	Channel Grade										431
MOR-CN17	81026	498829	8561617	4927	0.7	3.10	149.0	0.09	2.51	1.69	540
	81027	498828	8561616	4927	0.7	0.76	48.4	0.03	2.04	0.18	179
	Total Length (m)										1.4
	Channel Grade										359
MOR-CN18	81031	498806	8561628	4910	0.5	1.15	28.8	0.03	1.15	0.77	186
	81032	498806	8561629	4910	1	0.03	1.7	0.01	0.06	1.23	58
	Total Length (m)										1.5
	Channel Grade										101

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
MOR-CN19	80992	498795	8561631	4983	0.7	0.95	58.8	0.06	0.53	2.13	244
	80993	498795	8561630	4983	0.8	2.52	221.0	0.05	5.65	0.21	596
	Total Length (m)										1.5
	Channel Grade										432
MOR-CN20	80996	498786	8561638	4926	0.95	1.54	34.0	0.02	0.32	0.38	179
	80997	498785	8561637	4926	1	0.57	34.0	0.02	0.32	0.40	106
	Total Length (m)										2.0
	Channel Grade										141
MOR-CN21	81000	498780	8561642	4939	1	2.20	157.0	0.05	1.29	0.12	372
	81201	498779	8561641	4926	1	1.07	144.0	0.09	3.71	0.12	353
	81202	498779	8561640	4930	1	0.66	101.0	0.13	0.74	0.16	196
	81203	498778	8561639	4930	1	1.01	309.0	0.02	1.31	0.03	429
	81204	498778	8561638	4987	1	0.50	90.6	0.02	0.28	0.08	143
	Total Length (m)										5.0
	Channel Grade										298
MOR-CN22	81207	498768	8561648	4938	0.9	0.53	38.4	0.04	0.57	0.07	103
	81208	498767	8561647	4938	1	0.99	29.0	0.02	1.10	0.27	151
	81209	498767	8561646	4930	1	0.25	10.2	0.01	0.36	0.25	52
	81210	498767	8561645	4930	1	0.31	7.4	0.00	0.22	0.05	40
	81211	498766	8561644	4925	1	0.15	8.7	0.00	0.18	0.11	30
	81212	498766	8561643	4925	1	0.53	44.9	0.02	0.61	0.07	109
	81213	498765	8561642	4929	1	0.17	13.8	0.00	0.63	0.02	46
	81214	498765	8561641	4923	1	0.15	20.3	0.00	0.21	0.03	40
	Total Length (m)										7.9
	Channel Grade										71
MOR-CN23	81035	498762	8561649	4897	1	0.85	29.5	0.01	0.64	0.19	122
	81036	498761	8561648	4897	1	2.31	34.1	0.01	0.52	0.18	232
	81037	498761	8561647	4897	1	1.90	133.0	0.02	0.62	0.68	326
	Total Length (m)										3.0
	Channel Grade										227
MOR-CN24	81039	498704	8561697	4862	0.65	3.15	196.0	0.04	1.10	0.33	485
	81041	498703	8561697	4862	0.65	0.83	34.5	0.01	1.06	0.41	148
	Total Length (m)										1.3
	Channel Grade										316

Channel Number	Sample ID	Coordinates		Elevation (m)	True width (m)	Gold - Silver - Polymetallic Grades					AgEq (g/t)
		Easting	Northing			Au	Au=g	Cu	Pb	Zn
						(ppm)	(ppm)	(%)	(%)	(%)
MOR-CN25	81044	498697	8561707	4857	0.8	1.28	51.2	0.01	0.39	0.52	182
	81045	498696	8561707	4857	1	0.31	34.9	0.01	0.45	0.05	74
	Total Length (m)										1.8
	Channel Grade										122
MOR-CN26	81048	498693	8561716	4854	1	1.29	18.4	0.02	0.33	0.03	129
	81251	498692	8561715	4854	1	2.14	156.0	0.01	0.63	0.09	341
	81252	498691	8561715	4854	0.8	2.66	118.0	0.01	0.43	0.12	338
	Total Length (m)										2.8
	Channel Grade										264
MOR-CN27	81253	498686	8561726	4852	1	0.44	68.5	0.01	0.14	0.03	108
	81255	498685	8561725	4852	0.9	1.53	402.0	0.05	0.69	0.07	546
	Total Length (m)										1.9
	Channel Grade										316

Qualified Person

Mr. Donald. A. McIver, B.Sc., M.Sc., who is a qualified person under NI 43-101, has reviewed and approved the technical content of this news release for Silver X. Mr. McIver is a Fellow of the Australian Institute of Mining and Metallurgy (FAusIMM), as well as of the Society of Economic Geologists (FSEG). Donald is a Qualified Person as defined by National Instrument 43-101 and is a past member of the SEG Board of Trustees. Mr. McIver has accumulated a solid geological and resource development background over 30 years within project generation, advanced exploration, and mining programs for precious and base metals. Donald has over 20 years of experience in the Americas and since 2005 has fulfilled the positions of Vice President of Exploration (Minera IRL S.A.; & Palamina Corp.), Director of Mining Consulting (Ausenco) and Mineral Resource Manager (Barrick Gold). Mr. McIver is Senior Geological Advisor for Silver X.

About Silver X Mining

Silver X Mining is a Canadian silver mining company with assets in Peru and Ecuador. The Company's flagship asset is the Nueva Recuperada silver lead zinc project located in Huancavelica, Peru. Founders and management have a successful track record of increasing shareholder value. For more information visit our website at www.silverx-mining.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

ON BEHALF OF THE BOARD

José M García
CEO and Director

For further information, please contact:

Silver X Mining Corp.
+ 1 604 358 1382 | j.garcia@silverx-mining.com

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 Statement Regarding "Forward-Looking" Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information in this press release may include, without limitation, exploration plans, results of operations, expected performance at the Tangana Mining Unit and the expected financial performance of the Company, completion of the updated resource estimate targeted for Q2 2022.

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. 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.

¹ 1 Oro X Mining Corp., "Amended & Restated NI 43-101 Technical Report for the Recuperada Project, Peru" (Effective Date: October 15, 2020; Issue Date: March 25, 2021)"

SOURCE: Silver X Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/675277/Silver-X-Intersects-up-to-3814-gt-AgEq-over-04-Meters-During-Channel-Sampling-at-Tangana-During-Ongoing-Resource-Definition-Program

FAQ

What are the latest results from Silver X Mining Corp (WRPSF) at the Tangana Mining Unit?

Recent results revealed high-grade mineralization with surface samples indicating 1,034 g/t AgEq over 2 m and 3,814 g/t AgEq over 0.4 m.

What is the current inferred resource at the Tangana Mining Unit?

The inferred resource stands at 4,840,015 tonnes grading 116.33 g/t Ag, 3.35% Pb, and 1.63% Zn.

When will the diamond drilling program begin at Tangana?

The diamond drilling program, consisting of 10,000 metres, is set to commence in December 2021.

When is the updated resource estimate for the Tangana Mining Unit expected?

An updated resource estimate is targeted for completion in Q2 2022.

What plans does Silver X Mining have for resource extension at Tangana?

Silver X plans to assess high-priority resource extension drill targets following the recent exploration results.