Slide 1: A Growing Silver Producer in Peru
A GROWING SILVER PRODUCER IN PERU A GROWING SILVER PRODUCER IN PERU Corporate Presentation May 2026 TSX.V:AGX | OTC:AGXPF | FRA:AGX
Slide 2: Cautionary Statements
CAUTIONARY STATEMENTS CAUTIONARY STATEMENTS The information in this presentation is in summary form and does not purport to be complete. It is not intended to be This presentation does not constitute a prospectus or public offering for financing, and no guarantees are made or relied upon as advice t
Slide 3: Producing in One of the Largest Underdeveloped Silver Districts in Peru
PRODUCING IN ONE OF THE LARGEST UNDERDEVELOPED SILVER DISTRICTS IN PERU PRODUCING IN ONE OF THE LARGEST UNDERDEVELOPED SILVER DISTRICTS IN PERU PURPOSE To become a leading silver company by unlocking asset value, driving profitable growth, and delivering responsible, lasting stakeholder value. 3
Slide 4: Building a Premier Silver Company
BUILDING A PREMIER SILVER COMPANY BUILDING A PREMIER SILVER COMPANY Unique value proposition: immediate revenue, scalable growth, and long-term discovery upside — all within a single project. Silver X is trading at 0.70x P/NAV Advancing the Nueva Recuperada Silver Project — a 20,795-hectare, distric
Slide 5: Investment Opportunity: Unlocking a Growing Silver District
INVESTMENT OPPORTUNITY: UNLOCKING A GROWING SILVER DISTRICT INVESTMENT OPPORTUNITY: UNLOCKING A GROWING SILVER DISTRICT ▪ Tangana producing at 500 tpd, Expanding to 720 tpd (~2M AgEq oz/yr) Increasing ▪ Plata Mine Unit expected to come online in 2027 Production ▪ OBJECTIVE 3,000 tpd by 2029 (6M AgEq
Slide 6: The Time for Silver: A Precious & Industrial Metal
THE TIME FOR SILVER A PRECIOUS INDUSTRIAL METAL THE TIME FOR SILVER A PRECIOUS & INDUSTRIAL METAL Structural Deficits: Supply Consistently Fails to Meet Demand ▪ Multi-year physical deficits of ~200 Moz/year, the deepest in decades. ▪ Forecast deficits persist through 2028+ as mine supply stagnates,
Slide 7: Peru: Tier 1 Silver Jurisdiction
PERU TIER 1 SILVER JURISDICTION PERU TIER 1 SILVER JURISDICTION The country is one of the biggest producers of base and precious metals and one of Latin America’s fastest-growing economies. 1.3M km2 3rd 33M Area Largest country in People, one of Latin America’s South America fastest-growing economie
Slide 8: The Nueva Recuperada Silver & Gold District
THE NUEVA RECUPERADA SILVER GOLD DISTRICT THE NUEVA RECUPERADA SILVER & GOLD DISTRICT Nueva Recuperada is a growing mining district comprising multiple mining units across production, development, and exploration, supported by centralized processing infrastructure. GROWING RESOURCE WITH OUTSTANDING
Slide 9: Nueva Recuperada Silver & Gold Project
NUEVA RECUPERADA SILVER GOLD PROJECT NUEVA RECUPERADA SILVER & GOLD PROJECT Technical Reports ▪ Sep 2025: PEA updated to 3.9 Mt Measured & Indicated, 15.1 Mt Inferred Significant Potential for Resource Growth & Conversion ▪ Oct 2024: MRE updated to 4.3 Mt Measured & Indicated, 17.2Mt Inferred ▪ Apr
Slide 10: 2025 PEA: Tangana + Plata Positioned for 3,000 tpd and +6 Moz AgEq Annual Production
2025 PEA: Tangana + Plata Positioned for 3,000 tpd and +6 Moz AgEq Annual Production 2025 PEA: Tangana + Plata Positioned for 3,000 tpd and +6 Moz AgEq Annual Production Positive PEA results outline two complementary mining units (TMU & PMU), each with ~1,500 tpd processing capacity. Mineral Resourc
Slide 11: Tangana
TANGANA 11
Slide 12: Tangana Project Snapshot
TANGANA PROJECT SNAPSHOT PRODUCTION TANGANA PROJECT SNAPSHOT PRODUCTION The Tangana Mining Unit (TMU) commenced commercial production in January 2023, with current production focusing on only 10% of the resource Stage: Producing underground mine Metals: Silver, Gold, Lead & Zinc Production: ~750 tpd
Slide 13: 2026 Focus: Tangana Mining Unit
2026 FOCUS: TANGANA MINING UNIT 2026 FOCUS: TANGANA MINING UNIT The Tangana Mining Unit commenced commercial production in January 2023, with current production focusing on only 10% of the resource 2.5 km Possible new mill Tangana Possible dry-stacked tailings 4,950 m asl West Tangana Main (Producti
Slide 14: 2026 Focus: Tangana Mining Unit
TANGANA MINING UNIT 2026 FOCUS: TANGANA MINING UNIT
Slide 15: Tangana Production Volume & Financial Highlights
SILVER X’S 3Q25 TANGANA PRODUCTION VOLUME FINANCIAL HIGHLIGHTS SILVER X’S 3Q25 TANGANA PRODUCTION VOLUME & FINANCIAL HIGHLIGHTS For the three months ended December 31, 2025 Quarterly Production, Ag Spot Price, & AISC 4Q23 through 4Q25 $9.6M Revenue +64.8% USD KMT 4Q25 YoY Revenue 4Q25 EBITDA of -$2.
Slide 16: Plata Mining Unit
PLATA MINING UNIT Path To Transformational Growth Path To Transformational Growth 16
Slide 17: Plata Project Snapshot
PLATA PROJECT SNAPSHOT DEVELOPMENT PLATA PROJECT SNAPSHOT DEVELOPMENT Stage: Development | Restarting underground mine Metals: Silver, Gold, Lead & Zinc Full Production Capacity: 1,500 tpd Historical Production: ~1.8 Mt mined @ ~16.03 oz AgEq/t Mine Life: ~14 years Resource: 6.5 Mt @ 7.24 oz AgEq/t
Slide 18: A High Grade Mine
A High Grade Mine A High Grade Mine Extensive Vein System ▪ 3,829 hectares with 17 surface-exposed mineralized veins ▪ Veins range from 0.6 to 1.0 meters wide, connected to the Chonta and Huachocolpa- Huancavelica major fault systems Resources ($60 Cutoff)2 ▪ 2025 NI 43-101: 0.99 Mt indicated @ 5.91
Slide 19: Exploration
EXPLORATION High-Grade Gold-Silver Assets in Huancavelica High-Grade Gold-Silver Assets in Huancavelica 19
Slide 20: Pampas Project Geological Potential
PAMPAS PROJECT GEOLOGICAL POTENTIAL PAMPAS PROJECT GEOLOGICAL POTENTIAL Potential Epithermal–mesothermal transition system with >200 m depth potential, supporting resource growth of more than 2× the current estimate and upside to ~6 Mt of high-grade ore. Estimated resources from just five (5) of 12
Slide 21: Outstanding Gold Targets: Victoria & Ccasahuasi
OUTSTANDING GOLD TARGETS: VICTORIA CCASAHUASI OUTSTANDING GOLD TARGETS: VICTORIA & CCASAHUASI Au (ppm) Terraspec Zoning 0.005 – 0.01 K Alunite Aln-Pyr-Dk 0.01 – 0.05 K Illite Kaolinite 0.05 – 0.10 Kaolinite 0.10 – 0.50 Montmorillonite 0.50 – 1.00 Silica Cross Section > 1.00 Mg Chlorite TSX.V: AGX |
Slide 22: Building a Legacy in Huancavelica
BUILDING A LEGACY IN HUANCAVELICA BUILDING A LEGACY IN HUANCAVELICA Building a legacy in Huancavelica $ 2,800,000 99% in purchase of goods and of water is recirculated in our underground operations services from local suppliers 1,379,629 100% compliance with environmental requirements silver equival
Slide 23: Near Term Catalysts
NEAR TERM CATALYSTS NEAR TERM CATALYSTS Current Production Permits ● Achieve 1,000 tpd by June-26 ● Tangana EIA at 1,500 tpd, submission 2026 ● “Plan 100” initiative aims for ● Recuperada EIA at 1,500 tpd US$100/tonne operating and submission expected 2026-27 sustaining costs PEA 2025 Exploration ●
Slide 24: Experienced Team with a Proven Track Record
EXPERIENCED TEAM WITH A PROVEN TRACK RECORD MANAGEMENT BOARD OF DIRECTORS José M. García | CEO & Director Francis Johnstone | Director Co-founder of predecessor company, Latitude Silver. +20 +12 years as Investment Advisor to Baker Steel Resources years as Mining Engineer with operation and producti
Slide 25: Capital Structure
CAPITAL STRUCTURE CAPITAL STRUCTURE 15% insider ownership with strong institutional support Major Shareholders SHARE STRUCTURE As of Mar 31, 2026 9% Institutional Market Capitalization $212M 6% Management Shares Outstanding 286M Warrants1 46.7M Options2 6.9M RSU’s 0.9M Fully Diluted 340.6M 85% Retai
Slide 26: Appendix
APPENDIX TSX.V: AGX | OTC: AGXPF | FRA: AGX 26
Slide 27: One of Peru's Most Prolific Silver Districts
ONE OF PERU’S MOST PROLIFIC SILVER DISTRICTS ONE OF PERU’S MOST PROLIFIC SILVER DISTRICTS The Nueva Recuperada Property surrounds Endeavour Silver’s Minera Kolpa Project valued up to US$175M Kolpa’s projects, including Kolpa’s primary operating area, sits between Silver X’s Tangana and Plata mining
Slide 28: Silver High Grade Opportunities 2026
SILVER HIGH GRADE OPPORTUNITIES 2026 SILVER HIGH GRADE OPPORTUNITIES 2026 Tangana West WEST TANGANA MAIN VEIN Systematic Channel Samples up to 302 Oz/T Ag, 5% Cu, 4%Pb, 3%Zn TANGANA SIGMOID VEIN Systematic Channel Samples TANGANA SIGMOID VEIN up to 2,748 g/T Au, 28 Oz/T Ag RED SILVER RESOURCE Bonanz
Slide 29: Silver High Grade Opportunities 2026: Red Silver
SILVER HIGH GRADE OPPORTUNITIES 2026 SILVER HIGH GRADE OPPORTUNITIES 2026 Red Silver: Bonanza-Grade Silver Multi Vein, Fast-Track to Production BONANZA GRADES CONFIRMED ● Recent sampling up to 920g/T Ag. PROVENCE SCALE ● 6 principal veins and 67 veins and splits with 410m vertical development A sign
Slide 30: Red Silver: Recent Sampling in Historical Galleries
SILVER HIGH GRADE OPPORTUNITIES 2026 SILVER HIGH GRADE OPPORTUNITIES 2026 Red Silver: Recent Sampling Systematic underground in Historical Galleries channel sampling Exceptionally high silver grades, with vein averages of ~10–12 oz/t Ag Peak values exceeds 40 oz/t Ag, confirming the high-grade natur
Slide 31: The Time for Silver – A Precious & Industrial Metal
THE TIME FOR SILVER – A PRECIOUS INDUSTRIAL METAL THE TIME FOR SILVER – A PRECIOUS & INDUSTRIAL METAL Demand Expected to Exceed Supply for Several Years Silver Market Total Supply and Demand (Moz Ag) Silver Market Balance (Moz Ag) Source: Metals Focus Report via Pan American Silver TSX.V: AGX | OTC:
Slide 32: Contact Us
CONTACT US CONTACT US Jose Garcia | CEO j.garcia@silverxmining.com Investor Relations & Media ir@silverxmining.com Lima Office Avenida Santo Toribio 115 Oficina 502B San Isidro, Lima, 15073 Peru Vancouver Office 620– 1111 Melville St, Vancouver, BC V6E 3V6 Canada www.silverxmining.com @Silver_X_Mini