VANCOUVER, BC / ACCESS Newswire / January 13, 2026 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") is pleased to announce strong silver channel sampling results from Red Silver-a key exploration asset within the Company's Flagship Nueva Recuperada Property-located in Huancavelica, Peru. Results include 735 grams per tonne (g/t) silver over 65 metres of strike length and 649 g/t Ag over 40 metres, confirming the presence of multiple continuous strong silver shoots. Based on these results, the Company is pleased to announce a 1,200-metre underground diamond drill program to test the vertical and lateral continuity of the newly defined mineralized zones.

"Sampling more than 65 metres along the vein shoot with approximately 735 grams of silver per tonne clearly demonstrates the strength and continuity of the Red Silver system", said José García, CEO of Silver X. "These results give us the confidence to move forward immediately with underground drilling. By advancing drilling and development in parallel with production expansion, we are aggressively testing the scale of this discovery while maintaining disciplined, efficient execution. We believe this work has the potential to meaningfully enhance our near-term production profile and strengthen the long-term growth trajectory of the operation."

High-Grade Silver Defined Through Underground Sampling

Silver X has completed a systematic underground channel sampling program on Level 810, targeting previously underexplored areas of the Silvia and Rossana veins. The program successfully delineated four high-grade mineralized shoots, demonstrating strong grade continuity and reinforcing the interpretation of a robust, silver-rich vein system.

Key sampling highlights include:

• Silvia Vein - Shoot 1: 735 g/t Ag, 0.45% Pb and 0.73% Zn over an average width of 0.56 metres across 65 metres of strike (Figure 01).

• Silvia Vein - Shoot 2: 649 g/t Ag, 0.40% Pb and 0.69% Zn over 0.50 metres across 40 metres of strike (Figure 01).

• Rossana Vein: Two additional mineralized shoots identified, including 497 g/t Ag (over 0.92m width in Shoot 1) and a zinc-rich shoot grading 1.98% Zn (Shoot 2) in Figure 02.

These results confirm the presence of continuous, mine-scale strong silver mineralization within accessible underground workings.

Figure 01: Location of shoots and mine development plan in Silvia Vein Longitudinal Section.

Figure 02: Location of shoots and mine development plan in Rossana Vein Longitudinal Section.

1,200-Metre Underground Drill Program Announced

In response to the strong channel sampling results, Silver X is advancing an underground diamond drilling program totaling approximately 1,200 metres across 15 drill holes.

The drill program is designed to:

• Test the vertical and lateral extensions of the Silvia, Rossana, Luz, Larissa and Mariela strong shoots.

• Evaluate the plunge continuity of mineralization above and below Levels 810 and 860.

• Support future resource growth, mine planning and development decisions.

Drilling is expected to commence in the near term.

Figure 03: 1,200m underground drill program and planned mine development. Plan view with vein projections at level 860.

Parallel Exploration Through Mine Development

In parallel with drilling, the Company plans to initiate underground development on Level 860, located approximately 50 metres above Level 810. This development will provide direct access to the up-dip extensions of the strong mineralized shoots, allowing for additional mapping and channel sampling.

This dual-track strategy-drilling and mine development above - is intended to rapidly advance geological understanding while maintaining capital efficiency.

Summary of Channel Sampling Results

Table 01: Summary of Channel Sampling Results

Quality Assurance and Quality Control (QA/QC)

Silver X follows rigorous QA/QC protocols. Channel samples were collected using hammer and chisel to ensure representative sampling of the vein material and immediate wall rock. Samples were dispatched to an ISO-certified laboratory in Lima, Peru. The program includes the regular insertion of certified reference materials (standards), blanks, and field duplicates to ensure the highest level of analytical accuracy.

Please see "Cautionary Note regarding Production without Mineral Reserves" at the end of this news release.

Qualified Person

Mr. A. David Heyl, B.Sc., C.P.G who is a qualified person under NI 43-101, has reviewed and approved the technical content of this news release for Silver X. Mr. A. David Heyl is a consultant for Silver X.

Cautionary Note regarding Production without Mineral Reserves

The decision to commence production at the Nueva Recuperada Project and the Company's ongoing mining operations as referenced herein (the "Production Decision and Operations") are based on economic models prepared by the Company in conjunction with management's knowledge of the property and the existing estimate of mineral resources on the property. The Production Decision and Operations are not based on a preliminary economic assessment, a pre-feasibility study or a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, there is increased uncertainty and economic and technical risks of failure associated with the Production Decision and Operations, in particular: the risk that mineral grades will be lower than expected; the risk that additional construction or ongoing mining operations are more difficult or more expensive than expected; and production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with NI 43-101.

About Silver X

Silver X is a rapidly expanding silver producer and developer advancing the Nueva Recuperada Project in Peru, a 20,795-hectare, district-scale land package with two mining units and over 200 targets. Current production at the Tangana Mining Unit is scaling alongside the planned restart of the Plata Mine, supporting a path to ~6 million AgEq ounces annually by 2029. With immediate revenue, scalable growth, and long-term discovery upside ­- all within one integrated project - Silver X is building the next-generation silver company defined by growth, resilience, and responsible mining.

For more information visit our website at www.silverxmining.com.

ON BEHALF OF THE BOARD

José M. Garcia
CEO and Director

For further information, please contact:

Kaitlin Taylor
Investor Relations
ir@silverxmining.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 ("forward-looking information"). 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".All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information contained in this press release may include, without limitation, exploration plans, results of operations, expected performance at the Project, the Company's belief that the Tangana system will provide considerable resource expansion potential, that the Company will be able to mine the Tangana Mining Unit in an economic manner, and the expected financial performance of the Company.

The following are some of the assumptions upon which forward-looking information is based: that general business and economic adverse manner; demand for, and stable or improving price for the commodities we produce; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company's operations at the Project and Nueva Recuperada Plant; the availability of financing for operations and development; the Company's ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; that the estimates of the resources at the Project and the geological, operational and price assumptions on which these and the Company's operations are based are within reasonable bounds of accuracy(including with respect to size, grade and recovery); the Company's ability to attract and retain skilled personnel and directors; and the ability of management to execute strategic goals.

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, including but not limited to those risks described in the Company's annual and interim MD&As and in its public documents filed on www.sedar.com from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. 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.

SOURCE: Silver X Mining Corp.