Silver X Expands Nueva Recuperada District with Acquistion of Tangana West and Obtains Surface Channel Sampling Results up to 9,379 g/t Ag over 1.5 Metres

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• New Tangana West concessions acquired with surface channel samples of up to 9,379 g/t Ag, 3.81% Pb, and 2.69% Zn
• New claims cover an additional 1.3 kilometres of the Tangana silver-gold-polymetallic mineralized system for a total controlled strike length of over 3.0 kilometres

VANCOUVER, BC / ACCESSWIRE / September 22, 2021 / SILVER X MINING CORP. (TSXV:AGX)(OTC Pink:WRPSF) ("Silver X" or the "Company") has acquired the 250 hectare Tangana West silver project that hosts high-grade silver-polymetallic veins with surface channel samples returning grades up to 9,379 g/t Ag, 2.7% Pb and 1% Zn over 1.5 metres (See below Table 1). The Tangana West mineralized structure extends 1.3 kilometres along strike and based on field observations of the new claims, is interpreted to be vertically continuous for over 500 metres. On Silver X's adjacent Tangana Mining Unit (Tangana), the Tangana 1 and 2 silver-gold-polymetallic veins extend over 1.7 kilometers along strike with an average width of 1.0 metres, at an average grade of 286.71 g/t AgEq. Silver X now controls over 3.0 kilometres of the Tangana silver-polymetallic mineralized system (Tangana and Tangana West), which has an average vein thickness of 1.05 metres (See Figure 1).

"The acquisition of Tangana West is an important milestone for Silver X as we continue to consolidate the Nueva Recuperada district" said José Garcia, CEO of Silver X. "This extension of Tangana, with initial surface channel sampling results up to 9 kilograms per tonne silver over a 1.5 meter vein width, gives the Company great potential for expanding its high grade production. We are continually assessing opportunities throughout Peru and Latin America as we grow our resource base."

Under the agreement, Silver X has acquired unrestricted access and mining rights to the Las Animas & Los Tres Mosqueteros concessions from Sociedad Minera de Responsabilidad Limitada Las Animas. In return, the Company will pay a monthly fee of USD $5,000 or a 4% production royalty from the Las Animas and/or Los Tres Mosqueteros concessions whichever is greater. The agreement will automatically renew for a subsequent year upon commencing production.

Figure 1: Map of Silver X claims of the Tangana Mining Unit, identifying the newly acquired Tangana West claims and showing relationship to roads, surrounding veins.

Tangana West Geology

The Tangana West Ag-Pb-Zn-Cu epithermal intermediate sulphidation vein-field is emplaced in an area covered by a series of magmatic breccias. Regional samples taken by the Company indicate the vein system extends for over 1.3 kilometres on the new 100% owned claims. The results of recent representative channel sampling of limited surface exposures (27 samples) are presented in Table 1. The potential quantity and grades set out in Table 1 below are conceptual in nature, there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.

Figure 2: Satellite image showing the recently acquired Tangana West silver-polymetallic structures and results of surface channel sampling.

Figure 3: Lithological plan and longitudinal cross-section showing the localities and results of surface channel samples taken on the recently acquired Tangana West silver-polymetallic structure

Table 1: Tabulated summary of principal silver-gold-polymetallic grades intersected in surface channel numbers 80601 to 80667.

Note: Identification numbers of samples are not sequential as samples have been collected on site by several field teams. Also, analytical assay results of control samples are not included. Assays are uncut, undiluted; selected assay numbers are rounded; *AgEq based on USD $1,786/oz Au, $23.68/oz Ag, $1.0703/lb Pb, $1.3827/lb Zn and does not consider metallurgical recovery.

Figure 4: Surface outcrop of Tangana West Vein.

Figure 5: Regional view of Tangana West vein and mineralized conjugate structures.

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

Rock-chips from all surface channel sampling are taken as near as perpendicularly as possible across silver-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 locality coordinates are registered. The geological description of the sample is recorded. Where mineralized vein structures are fully exposed in surface outcrop, sampling is done from one side of the mineralized structure to the other. Minimum sample lengths are dependent on width of available outcrop. The lengths of the reported channel samples are indicated in the tabulated information as presented in Table 1. Taking care not to allow contamination of the sample, each channel sample is collected with the use of a hammer and chisel. Rock chips representing a minimum channel width of 10 cm and minimum channel depth of 5 cm are 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, depth, and bulk density of the channel sample, approximately 3-5 kg per sample are collected for analysis.

The 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 has introduced a fully 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. The QAQC control samples, including the random insertion of certified reference material, are designed to test the integrity of the samples by providing 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.

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.

Qualified Person

Mr. A. David Heyl who is a qualified person under NI 43-101, has reviewed and approved the technical content of this news release for Silver X. Mr. Heyl, B.Sc., C.P.G., QP is a Certified Professional Geologist and Qualified Person under NI 43-101. With over 25 years of field and upper management experience, Mr. Heyl has a solid geological background in generating and conducting exploration and mining programs for gold, rare earth metals, and base metals, resulting in several discoveries. Mr. Heyl has 20 years of experience in Peru. He worked for Barrick Gold, was the exploration manager for Southern Peru Copper, and spent over twelve years working in and supervising underground and open pit mining operations in the Americas. Mr. Mr. A. David Heyl is a consultant for Silver X Mining Corp.

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 | [email protected]

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

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements in respect of the Company's exploration plans and development potential for the Company's properties. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

SOURCE: Silver X Mining Corp.