Silver X Mining Secures C$21.5 Million in Private Placements to Advance Peruvian Silver Operations

Silver X Mining Corp. has completed two private placements raising aggregate gross proceeds of C$21.5 million, marking a significant financial milestone for the company's operations in Peru. The company closed its brokered private placement for C$16 million, which included the full exercise of the underwriters' over-allotment option, selling 32 million units at C$0.50 per unit. Red Cloud Securities Inc. acted as lead underwriter with Laurentian Bank Securities serving as co-manager for this portion of the financing.

Additionally, the company completed a non-brokered private placement for C$5.5 million from the sale of 11 million units at the same offering price. The combined offerings resulted in the sale of 43 million units, providing substantial capital for the company's growth initiatives. The underwriters also served as finders for the non-brokered offering and received aggregate cash fees of C$1,258,020 along with 2,516,040 non-transferable common share purchase warrants.

José García, President and CEO of Silver X, characterized the financing as an extremely important milestone for the company. He noted the strength of investor demand that led to two upsizings of the financing, describing it as a critical moment in the company's trajectory. García emphasized that this represents more than just capital, calling it the catalyst for transformative growth that will allow the company to properly execute its vision for the first time in its history.

The capital injection will enable significant advancement of growth plans across exploration, resource conversion, and production scale. According to company leadership, Silver X now has the potential to become one of the fastest-growing silver producers in South America, with foundations in place to deliver sustainable value and operational excellence. The company intends to use the net proceeds for capital and exploration expenditures related to operations in the Nueva Recuperada Silver District in Peru, as well as for working capital and general corporate purposes.

Each unit in the offerings consisted of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at C$0.70 until September 29, 2028. The units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106. Unit shares and warrant shares sold to Canadian residents are immediately freely tradeable under applicable Canadian securities legislation.

The offerings were conducted in compliance with Canadian securities regulations, with units offered to offshore and United States purchasers on a private placement basis under exemptions from registration requirements of the U.S. Securities Act. Securities not issued under the listed issuer financing exemption are subject to a statutory hold period until January 30, 2026. An amended and restated offering document related to the offerings can be accessed under the company's profile at https://www.sedarplus.ca and on the company's website at https://www.silverxmining.com.

This substantial financing positions Silver X to accelerate development of its district-scale silver project in Peru, potentially impacting the broader silver mining industry in South America. The successful completion of both placements demonstrates strong market confidence in the company's growth strategy and operational plans. The funding comes at a crucial time for silver mining development, with increasing global demand for silver across industrial and investment applications.

The transaction remains subject to final approval from the TSX Venture Exchange, representing one of the final regulatory steps in the financing process. The successful capital raise provides Silver X with the financial resources needed to advance its ambitious production targets and exploration programs, potentially establishing the company as a significant player in the South American silver mining sector.