Announcement • Jul 22

Silver X Mining Corp Expands Red Silver Drill Program To 6,650 Meters Following High-Grade Channel Sampling Results

Silver X Mining Corp. had underground diamond drilling underway at the Red Silver Project (María Luz sector), part of the Company's flagship Nueva Recuperada Project in Huancavelica, Peru. Following the results of the underground channel sampling program announced earlier this year, the Company revised its planned drill program from the initial 1,200 meters to approximately 6,650 meters. The expanded program is designed to systematically test mineralized vein systems identified during the underground channel sampling campaign and support the expansion of the existing Mineral Resource while increasing geological confidence through additional drilling. The drill campaign is designed to build on this resource by testing priority targets identified through underground sampling, supporting Mineral Resource expansion and resource classification upgrades where supported by drilling. Earlier this year, Silver X completed a systematic underground channel sampling program on Level 810 across the Silvia and Rossana vein systems. The program was conducted within the area covered by the current NI 43-101 Mineral Resource and delineated four continuous high-grade silver shoots that provided additional geological information on the continuity and distribution of mineralization. The sampling program was designed to define exploration targeting and support the planning of subsequent drilling. The results did not modify or update the current Mineral Resource estimate. Key sampling results are summarized below (see news release dated January 13, 2026). Vein Shoot Strike Length (m) Avg. Width (m) Ag (g/t) Pb (%) Zn (%) Silvia Shoot 1 650 0.56 735 0.45 0.73 Silvia Shoot 2 400 0.50 649 0.40 0.69 Rossana Shoot 1 350 0.92 497 0.30 0.64 Rossana Shoot 2 450 0.82 396 0.48 1.98. Red Silver hosts an existing NI 43-101 Mineral Resource first reported in May 2025 comprising approximately 1,910,000 tonnes of Inferred Mineral Resources and 41,600 tonnes of Measured and Indicated Mineral Resources. Table 02: Current Mineral Resource Estimation for Red Silver Project Vein Resource Type Tons Ag (g/T) Pb (%) Zn (%) Au (g/t) Silvia Inferred 832,650 800.92 0.41 0.67 0.02 Manto San Jose Inferred 32,500 209.95 0.08 0.19 0.01 Rossana Inferred 475,800 195.95 0.05 0.14 0.00 Ramal Silvia Inferred 178,425 839.15 0.59 0.77 0.04 Manto Jonas Inferred 32,500 651.93 0.25 0.18 0.02 Kasandra Inferred 356,850 74.96 0.05 0.10 0.00 Total Inferred Inferred 1,908,725 496.10 0.21 0.34 0.01 Combined Measured 20,800 496.10 0.21 0.34 0.01 Combined Indicated 20,800 496.10 0.21 0.34 0.01 Total Measured + Indicated M&I 41,600 496.10 0.21 0.34 0.01. Red Silver is a genuine high-grade silver asset. The Company's 2025 PEA reports a diluted mining inventory for the María Luz sector of 892,534 tonnes at 13.83 oz/t (approximately 430 g/t) silver. This mining inventory is based predominantly on Inferred Mineral Resources; mineral resources that are not mineral reserves do not have demonstrated economic viability, and there is no certainty that any portion of the Inferred Mineral Resources will be converted to a higher-confidence category or to mineral reserves. Red Silver is also one of the purest silver assets in Peru: at the grades reported from underground channel sampling (735 g/t Ag, 0.45% Pb, 0.73% Zn), silver accounts for over 90% of in-situ metal value. The geology supports the grade. The María Luz sector displays colloform quartz and ginguro banding, textbook epithermal textures characteristic of bonanza-style silver systems, as documented in the Company's current PEA. Historical operators recognized the same endowment: Buenaventura reported historical reserves at María Luz of 82,445 tonnes at 419 g/t Ag and historical resources of 60,490 tonnes at 553 g/t Ag (2009). Phase I focuses on the mineralized structures closest to existing underground development, to confirm the continuity of the principal shoots identified by channel sampling, evaluate the structures with the highest potential to contribute to Mineral Resource expansion, and collect the geological information required to support resource growth. Phase II extends drilling beyond the current resource area, testing the continuation of the principal vein systems at depth and toward the upper portions of the deposit, where geological interpretation indicates that significant mineralization may remain in situ. Table 03. Planned Underground Diamond Drill Program - Red Silver Project Phase I - Resource Expansion Around Existing Development Drill Hole ID Drill Chamber Meters Primary Target Secondary Target DDH-ML-01 CM-01 65 Rossana (Lvl 860) DDH-ML-02 CM-01 75 Rossana (Lvl 860) DDH-ML-03 CM-01 120 Rossana (Lvl 860) DDH-ML-04 CM-01 120 Silvia (Lvl 860) DDH-ML-05 CM-01 95 Silvia (Lvl 860) DDH-ML-06 CM-02 90 Mariela (Lvl 860) DDH-ML-07 CM-02 90 Mariela (Lvl 860) DDH-ML-08 CM-02 90 Mariela (Lvl 860) DDH-ML-09 CM-03 90 Mariela (Lvl 860) DDH-ML-10 CM-03 75 Luz (Lvl 860) DDH-ML-11 CM-03 50 Luz (Lvl 860) DDH-ML-12 CM-04 50 Luz (Lvl 860) Joanna (Lvl 860) DDH-ML-13 CM-04 60 Luz (Lvl 860) DDH-ML-14 CM-04 45 Luz (Lvl 860) Larissa (Lvl 860) Subtotal Phase I: 1,115 meters Phase II - Resource Expansion and Infill Drilling Drill Hole ID Drill Chamber Meters Primary Target Secondary Target Silvia_01 CM-01 350 Silvia (Lvl 675) Larissa (Lvl 660) Silvia_02 CM-01 350 Silvia (Lvl 625) Larissa (Lvl 625) Silvia_03 CM-01 450 Silvia (Lvl 575) Larissa (Lvl 500) Larissa_01 CM-05 280 Larissa (Lvl 625) Larissa_02 CM-05 350 Larissa (Lvl 525) Silvia (Lvl 550) Larissa_03 CM-05 380 Larissa (Lvl 575) Silvia (Lvl 550) Larissa_04 CM-05 340 Larissa (Lvl 575) Milagrosa_01 CM-05 115 Milagrosa Milagrosa_02 CM-05 100 Milagrosa Milagrosa_03 CM-05 100 Milagrosa Milagrosa_04 CM-05 100 Milagrosa Mariela_01 CM-05 230 Mariela Mariela_02 CM-05 230 Mariela Luz_01 CM-05 400 Larissa (Lvl 760) Luz (Lvl 675) Luz_02 CM-05 260 Larissa (Lvl 770) Luz (Lvl 675) Luz_03 CM-05 280 Larissa (Lvl 730) Luz (Lvl 625) Luz_04 CM-05 330 Larissa (Lvl 730) Luz (Lvl 575) MJ_01 CM-06 120 Rossana MJ (Lvl 730) MJ_02 CM-06 100 Rossana MJ (Lvl 730) MJ_03 CM-06 200 Rossana MJ (Lvl 675) MJ_04 CM-06 320 Rossana MJ (Lvl 625) Rossana_01 CM-06 60 Rossana (Lvl 785) Rossana_02 CM-06 90 Rossana (Lvl 785) Subtotal Phase II: 5,535 meters Total Planned Diamond Drilling: 6,650 meters. Silver X follows rigorous QA/QC protocols. Drill core is geologically and geotechnically logged, cut and sampled under documented chain-of-custody procedures, and dispatched to an ISO-certified laboratory in Lima, Peru. The program includes the regular insertion of certified reference materials (standards), blanks and field duplicates. Channel samples reported herein were collected using hammer and chisel to ensure representative sampling of the vein material and immediate wall rock, under the same laboratory and QA/QC protocols.

Announcement • Jun 03

Silver X Mining Corp Reports New Underground Diamond Drill Results from Blenda Rubia Target

Silver X Mining Corp. has reported new underground diamond drill results from the Blenda Rubia target, located within the Company's Nueva Recuperada Unit in central Peru. The latest results from hole DDH-BR-016 continue to confirm that Blenda Rubia is evolving into a broader and more scalable polymetallic mineralized system than would be implied by a simple narrow-vein interpretation. The repetition of broad mineralized intercepts across multiple drill holes indicates that these wider zones are not isolated local features, but rather part of a mineralized system with the potential to support a larger mining footprint, increased operational flexibility and, over time, a more scalable development scenario. Hole DDH-BR-016 was drilled from Platform No. 003 to a final depth of 305.70 meters and intersected a mineralized structural zone of 104.20 meters apparent width, equivalent to 40.71 meters true width, between 179.30 meters and 283.50 meters. The interval returned average grades of 69.53 g/t Ag, 0.87% Pb, 0.28% Zn and 0.02% Cu, equivalent to 98.7 g/t AgEq. These results confirm continuity of the polymetallic system at depth, approximately 60 meters below the last level historically recognized by Buenaventura, and reinforce the Company's view that Blenda Rubia may support a more ambitious ramp-up scenario as drilling continues to expand the scale and continuity of the mineralized corridor. The Company interprets these results as further evidence that mineralization at Blenda Rubia is not restricted to discrete veins, but is instead developed within a broader mineralized corridor composed of principal veins, tensional structures, moderate veinlet stockworks, silicified horses and altered host rock. This broader geometry is increasingly important from a corporate perspective, as it may enhance the project's scalability, support wider mineable zones in selected sectors, and strengthen Blenda Rubia's potential role in Silver X's production ramp-up strategy at Nueva Recuperada. DDH-BR-016 intersected 104.20 meters apparent width, equivalent to 40.71 meters estimated true width, grading 69.53 g/t Ag, 0.87% Pb, 0.28% Zn, 0.02% Cu, equivalent to 98.7 g/t AgEq. Vein 1 returned 4.12 meters estimated true width grading 209.78 g/t Ag, 2.10% Pb, 0.61% Zn, 0.01% Cu (274.5 g/t AgEq), representing the highest-value internal interval within the broader mineralized zone. Vein 3 returned 2.64 meters estimated true width grading 140.37 g/t Ag, 1.25% Pb, 0.12% Zn, 0.01% Cu (172.1 g/t AgEq). An additional tensional structure returned 2.85 meters estimated true width grading 94.42 g/t Ag, 1.25% Pb, 0.33% Zn, 0.01% Cu (132.4 g/t AgEq). The intercept lies at an approximate elevation of 4,160 masl, approximately 60 meters below the last level recognized by Buenaventura at Level 210 (4,220 masl), confirming down-dip continuity of the Blenda Rubia polymetallic system. The results support the interpretation of Blenda Rubia as a broader polymetallic corridor comprising principal veins, tensional structures, moderate stockwork, silicified horses and altered wall rock, rather than mineralization restricted to discrete veins. Drill hole DDH-BR-016 recognized a mineralized structural zone from 179.30 meters to 283.50 meters, corresponding to 104.20 meters apparent width and 40.71 meters estimated true width. Across this broad interval, average grades were 69.53 g/t Ag, 0.87% Pb, 0.28% Zn and 0.02% Cu (98.7 g/t AgEq). These results confirm that mineralization at Blenda Rubia is not restricted to discrete veins, but instead develops within a broader mineralized corridor comprising principal veins, tensional structures, moderate stockwork, silicified horses and altered wall rock. When viewed together with previously reported wide intercepts such as DDH-BR-003, DDH-BR-005 and DDH-BR-009, DDH-BR-016 indicates that these broad mineralized packages are not isolated local occurrences. Rather, they appear to be a repetitive feature of the system that may support project scale-up and wider mining fronts in selected sectors as exploration advances. Table 2. Results from DDH-BR-016: Structure From (m) To (m) Apparent Width (m) Estimated True Width (m) Ag (g/t) Pb (%) Zn (%) Cu (%) AgEq (g/t) Mineralized zone 179.30 283.50 104.20 40.71 69.53 0.87 0.28 0.02 98.7 Includes Vein 3 215.15 221.40 6.25 2.64 140.37 1.25 0.12 0.01 172.1 Includes Vein 1 228.70 238.45 9.75 4.12 209.78 2.10 0.61 0.01 274.5 Includes Tensional structure 246.15 252.90 6.75 2.85 94.42 1.25 0.33 0.01 132.4. Silver-equivalent grade is calculated on a metal-price basis (recoveries not applied) as AgEq (g/t) = Ag + [(Pb% × 20.94) + (Zn% × 28.66) + (Cu% × 94.80)] ÷ 0.9645, using assumed prices of USD 0.96/g Ag, USD 0.95/lb Pb, USD 1.30/lb Zn and USD 4.30/lb Cu (to be confirmed against the official price deck). Geological Interpretation: The results from DDH-BR-016 reinforce the interpretation of Blenda Rubia as a larger-scale, mesothermal polymetallic lode vein system in which mineralization is distributed across a broad structural corridor and not solely within a single discrete vein. The broad interval intersected in DDH-BR-016 is consistent with the Company's previously reported wide intercepts in DDH-BR-003, DDH-BR-005 and DDH-BR-009, supporting the view that these wide veining packages are repetitive and laterally meaningful components of the system rather than isolated local zones. Within the interval from 215.15 meters to 221.40 meters, corresponding to Vein 3, the hole intersected a hydrothermal breccia vein with patches of galena and subrounded clasts of silicified tuff. In the interval from 228.70 meters to 238.45 meters, associated with Vein 1, the hole intersected a hydrothermal breccia vein with galena over sphalerite, pyrite as fine spots, later gray silica injection and clasts with alteration rims. This configuration indicates that the principal veins do not define the external limits of the system, but instead form part of the broader mineralized system. Accordingly, Blenda Rubia may be interpreted as a polymetallic mesothermal vein corridor with the potential to develop wider mineable widths in selected sectors. The recurrence of wide intercepts in multiple holes also strengthens the case that the project can be scaled beyond a strictly narrow-vein concept as drilling continues. The significance of DDH-BR-016 lies in its confirmation of mineralized continuity at depth while maintaining substantial thickness and demonstrating potential for further extension of the lode system. Positioned approximately 60 meters below the last level recognized by Buenaventura, the hole adds depth confirmation to a pattern of repetitive wide intercepts and demonstrates that the broader mineralized lode vein intercepts are in multiple locations.

Total Shareholder Yield	-10.6%
Future Dividend Yield	n/a
Dividend Growth	n/a
Next dividend pay date	n/a
Ex dividend date	n/a
Dividend per share	n/a
Payout ratio	n/a

Segment	Dividend Yield
Company (AGX)	n/a
Market Bottom 25% (CA)	1.5%
Market Top 25% (CA)	5.8%
Industry Average (Metals and Mining)	1.3%
Analyst forecast (AGX) (up to 3 years)	n/a

Data	Last Updated (UTC time)
Company Analysis	2026/09/11 00:02
End of Day Share Price	2026/09/11 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Siddharth Rajeev	Fundamental Research Corp.
Tate Sullivan	Maxim Group
Alina Islam	Red Cloud Securities

Silver X Mining Dividends and Buybacks

Dividend criteria checks 0/6

Key information

Recent dividend and buyback updates

Recent updates

President recently sold CA$111k worth of stock

President exercised options to buy CA$242k worth of stock.

President recently sold CA$255k worth of stock

Second quarter 2026 earnings released: EPS: US$0.011 (vs US$0 in 2Q 2025)

Silver X Mining Corp., Annual General Meeting, Sep 29, 2026

Consensus revenue estimates increase by 18%

News Flash: One Analyst Just Made A Substantial Upgrade To Their Silver X Mining Corp. (CVE:AGX) Forecasts

Silver X Mining Corp Expands Red Silver Drill Program To 6,650 Meters Following High-Grade Channel Sampling Results

Consensus revenue estimates fall by 11%

New minor risk - Share price stability

Less than half of directors are independent

Silver X Mining Corp. Appoints Joseph Gallucci to Its Board of Directors, Effective 09 June 2026

Silver X Mining Corp Reports New Underground Diamond Drill Results from Blenda Rubia Target

Silver X Has 152 Million Ounces, Already Producing and Its Biggest Growth Phase May Still Be Ahead

Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind

A Case for Silver X reaching CAD$18 by 2031 (a possible 30 bagger)

Silver X Mining Corp. announced that it has received CAD 60 million in funding

Silver X Mining Corp. announced that it expects to receive CAD 60 million in funding

What Silver X Mining Corp.'s (CVE:AGX) 41% Share Price Gain Is Not Telling You

Silver X Mining Corp. Announces Results from the First Three Underground Diamond Drill Holes Completed as Part of Its Deep Exploration Program At the Blenda Rubia Mine, Within the Nueva Recuperada Project in Central Peru

Silver X Mining Corp. Announces 1,200-Metre Drill Program to Test Continuity

Independent Director recently sold CA$186k worth of stock

New minor risk - Profitability

What Silver X Mining Corp.'s (CVE:AGX) 41% Share Price Gain Is Not Telling You

Third quarter 2025 earnings released: US$0.001 loss per share (vs US$0.011 loss in 3Q 2024)

New major risk - Revenue and earnings growth

Silver X Mining Corp. Files Preliminary Economic Assessment Demonstrating District -Scale Project

Silver X Mining Corp. (CVE:AGX) Stock Rockets 27% As Investors Are Less Pessimistic Than Expected

New major risk - Shareholder dilution

Silver X Mining Corp. announced that it has received CAD 13 million in funding

Silver X Mining Corp. announced that it has received CAD 5.5 million in funding

Forecast to breakeven in 2026

Silver X Mining Corp. announced that it has received CAD 5.5 million in funding

Silver X Mining Corp. announced that it expects to receive CAD 10 million in funding

Shareholders May Not Be So Generous With Silver X Mining Corp.'s (CVE:AGX) CEO Compensation And Here's Why

Silver X Mining Corp. (CVE:AGX) Stock Catapults 36% Though Its Price And Business Still Lag The Industry

New minor risk - Share price stability

Second quarter 2025 earnings released: EPS: US$0 (vs US$0.001 loss in 2Q 2024)

New major risk - Revenue and earnings growth

Silver X Mining Corp., Annual General Meeting, Sep 12, 2025

Insufficient new directors

New minor risk - Share price stability

First quarter 2025 earnings released: US$0.002 loss per share (vs US$0.004 loss in 1Q 2024)

New major risk - Revenue and earnings growth

Full year 2024 earnings: EPS in line with expectations, revenues disappoint

New major risk - Shareholder dilution

Silver X Mining Corp. announced that it has received CAD 3.5 million in funding

Lacklustre Performance Is Driving Silver X Mining Corp.'s (CVE:AGX) Low P/S

Silver X Mining Corp. announced that it expects to receive CAD 3 million in funding

Third quarter 2024 earnings released: US$0.011 loss per share (vs US$0.013 loss in 3Q 2023)

Revenues Working Against Silver X Mining Corp.'s (CVE:AGX) Share Price Following 25% Dive

Silver X Mining Corp. announced that it expects to receive CAD 5 million in funding

Silver X Mining Corp. Announces Resignation of Sebastian Wahl as Director

Silver X Mining Corp.'s (CVE:AGX) Shares Bounce 33% But Its Business Still Trails The Industry

New major risk - Financial position

Second quarter 2024 earnings released: US$0.001 loss per share (vs US$0.008 loss in 2Q 2023)

New major risk - Revenue and earnings growth

VP of Corporate Development & Director recently sold CA$51k worth of stock

Not Many Are Piling Into Silver X Mining Corp. (CVE:AGX) Stock Yet As It Plummets 26%

New minor risk - Insider selling

Silver X Mining Corp., Annual General Meeting, Sep 13, 2024

Silver X Mining Corp. Announces CFO Changes

Silver X Mining Corp.'s (CVE:AGX) Shares Leap 26% Yet They're Still Not Telling The Full Story

Full year 2023 earnings: EPS and revenues miss analyst expectations

Silver X Mining Corp.'s (CVE:AGX) Shares Leap 29% Yet They're Still Not Telling The Full Story

VP of Corporate Development & Director recently sold CA$913k worth of stock

President recently sold CA$620k worth of stock

New major risk - Financial position

Silver X Mining Corp. announced that it expects to receive CAD 2 million in funding

Market Cool On Silver X Mining Corp.'s (CVE:AGX) Revenues Pushing Shares 29% Lower

Silver X Mining Corp. Announces Chief Financial Officer Changes

Silver X Mining Corp. Announces the Resumption of Its Mining Operations At the Nueva Recuperada Project

Second quarter 2023 earnings released: US$0.008 loss per share (vs US$0.001 profit in 2Q 2022)

Silver X Mining Corp., Annual General Meeting, Sep 14, 2023

Silver X Mining Corp. Appoints Enrique Garay as Chief Operating Officer