Silver X Mining Announces C$10 Million Bought Deal Offering for Peruvian Operations Expansion

Silver X Mining Corp. has entered into an agreement with Red Cloud Securities Inc. to act as lead underwriter for a bought deal offering that could raise up to C$10 million. The offering involves the sale of 20,000,000 units at C$0.50 per unit, with each unit consisting of one common share and one-half common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at C$0.70 within 24 months of the offering's closing date.

The underwriters have been granted an over-allotment option that could raise an additional C$2,000,000 by purchasing up to 4,000,000 extra units. The company plans to use the net proceeds primarily for capital and exploration expenditures at its Nueva Recuperada Silver District operations in Peru, with remaining funds allocated to working capital and general corporate purposes. The offering is scheduled to close on September 29, pending necessary approvals including that of the TSX Venture Exchange.

This financing initiative represents a significant development for Silver X Mining's expansion plans in the Peruvian silver mining sector. The additional capital will enable the company to accelerate exploration activities and enhance operational capabilities at its 20,472-hectare Nueva Recuperada Silver Project, which currently produces silver, gold, lead, and zinc from the Tangana Mining Unit. The offering's structure, combining immediate equity with longer-term warrant exercise potential, provides investors with both current exposure and future participation opportunities in the company's growth trajectory.

Prospective investors can access the offering document through the company's profile at https://www.sedarplus.ca or on the company website at https://www.silverxmining.com. The securities have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless registered or an exemption applies. This financing round occurs amid growing demand for silver in various industrial applications and investment vehicles, potentially positioning Silver X Mining to capitalize on favorable market conditions while expanding its resource base and production capabilities in a key mining jurisdiction.