Silver X Mining Corp · TSXV:AGX
Silver X Mining — Investor Presentation (January 2026)
30 slides from Silver X Mining's investor presentation, January 2026
Slide 1: A Growing Silver Producer in Peru
A GROWING SILVER PRODUCER IN PERU Corporate Presentation | January 2026 TSX.V: AGX | OTC: AGXPF | FRA: AGX TSX.V: AGX | OTC: AGXPF | FRA: AGX
Slide 2: 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 to investors or potenti
Slide 3: Producing in One of the Largest Underdeveloped Silver Districts in Peru
PRODUCING IN ONE OF THE LARGEST UNDERDEVELOPED SILVER DISTRICTS IN PERU PURPOSE ▪ To consolidate and develop undervalued assets, creating value by adding resources and increasing production profitability; aspiring to social and environmental excellence. ▪ To be a premier silver company delivering ou
Slide 4: Building a Premier Silver Company
BUILDING A PREMIER SILVER COMPANY Unique value proposition: immediate revenue, scalable growth, Silver X is trading at only and long-term discovery upside — all within a single project. 0.71x P/NAV Advancing the Nueva Recuperada Silver Project — a 20,795-hectare, district-scale land package integrat
Slide 5: Investment Opportunity: Unlocking a Silver District
INVESTMENT OPPORTUNITY: UNLOCKING A 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 oz/yr) ▪ Outstanding Resource, nearly 20 Mt of high-grade Growing ▪
Slide 6: 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, and recycling remains low. Demand Locked in by
Slide 7: The Time for Silver – Demand Expected to Exceed Supply
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: AGXPF | FRA: AGX 7
Slide 8: 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. 33M 1.3M km2 3rd Largest country in People, one of Latin Area South America America’s fastest- growing economies(1) 18% 110,000 MT Peru has
Slide 9: The Nueva Recuperada Project Silver & Gold District
THE NUEVA RECUPERADA PROJECT SILVER & GOLD DISTRICT A 20,795-Hectare Fully Permitted District-Scale Land Package in Central Peru NUEVA RECUPERADA SILVER & GOLD PROJECT Production ▪ Tangana Mining Unit Development ▪ Plata Mining Unit Exploration ▪ Brownfield expansion ▪ Victoria HS Gold ▪ Red Silver
Slide 10: Large Growing Resource
LARGE GROWING RESOURCE 1 Path to +6M AgEq oz by 2029 TANGANA PLATA +10.4Mt @ 7.24 Oz +6.5Mt2 @ 7.24 oz AgEq/t. AgEq/t. 75.8M AgEq Oz 47.3M AgEq oz REDSILVER CCASAHUASI +2.5 MT @ 13.25 oz +40k Au oz on surface AgEq/t. 33.63M AgEq oz New Tangana mill (1,500 tpd) PEA 2023 4.2M AgEq oz over 12 years LOM
Slide 11: Nueva Recuperada Silver Gold Project
NUEVA RECUPERADA Technical Reports ▪ Sep 2025: PEA updated to 3.9 Mt Measured & Indicated, 15.1 Mt Inferred SILVER GOLD PROJECT ▪ Oct 2024: MRE updated to 4.3 Mt Measured & Indicated, 17.2Mt Inferred ▪ Apr 2023: PEA 3.6 Mt Measured & Indicated, 11.9 Mt Inferred Significant Potential for ▪ Jun 2022:
Slide 12: One of Peru's Most Prolific Silver Districts
ONE OF PERU’S MOST PROLIFIC SILVER DISTRICTS ▪ EDR acquired Kolpa for $2.92 per M&I AgEq Oz The Nueva Recuperada Property surrounds Endeavour ▪ AGX currently valued at $0.81 per M&I AgEq Oz Silver’s Minera Kolpa Project valued up to US$175M Kolpa’s projects, including Kolpa’s primary operating area,
Slide 13: 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 Possible new mill Tangana Possible dry-stacked tailings West Tangana Main Mining (Production) area Tangana East Tangana West Tangana M
Slide 14: 2026 Focus: Tangana Mining Unit
2026 FOCUS: TANGANA MINING UNIT TSX.V: AGX | OTC: AGXPF | FRA: AGX 14
Slide 15: Tangana: A Multi-Vein Deposit
TANGANA: A MULTI-VEIN DEPOSIT ▪ Over 40 veins and splits recognized, Silver, Gold, Lead & Zinc characteristics of the upper parts of epithermal 2.5 km and mesothermal systems ▪ System will deepen significantly. Exploration is only 4,950 masl scratching their apical parts. ▪ Resources estimate only i
Slide 16: Silver X's 3Q25 Production Volume & Financial Highlights
SILVER X’S 3Q25 PRODUCTION VOLUME & FINANCIAL HIGHLIGHTS Quarterly Production, Ag Spot Price, & AISC 3Q23 through 3Q25 USD kMT For the three months ended September 30, 2025. $5.0M Revenue -0.6% 3Q25 YoY Revenue 3Q25 EBITDA of $185k vs. -28.1% Ore EBITDA of -$497k in 3Q24 Processed vs. 3Q24 $28.90/oz
Slide 17: 2025 PEA — Plata Mining Unit
2025 PEA — PLATA MINING UNIT A High Grade Mine Path To Transformational Growth Strategic Location ▪ 150 km east of Peru’s Pan American highway, easily accessible by paved road Extensive Vein System ▪ 3,829 hectares with 17 surface-exposed mineralized veins ▪ Veins range from 0.6 to 1.0 meters wide,
Slide 18: Plata: A Solid Resource, Open in All Directions
PLATA: A SOLID RESOURCE, OPEN IN ALL DIRECTIONS ESPERANZA 2001 VEIN LONG SECTIONS ▪ Historical mining was selective, cut- off grades exceeding 16 AgEq oz/Ton. ▪ The mineralization plunge exhibits a subvertical trend to the west. Mineralization open at depth ▪ Mineralization remains open at depth, wi
Slide 19: 2025 PEA — 3,000 tpd, Annual Production +6M AgEq oz
2025 PEA — 3,000 tpd, Annual Production +6M AgEq oz Positive revised PEA results support two mining units, each with processing capacity of 1,500 tpd Mineral Resource Upgrade Extended Life of Mine (LOM) ▪ M&I Resources: 3.91 Mt ▪ LOM: 14 years ▪ Inferred Resources: 15.11 Mt ▪ Combined Capacity: 3,00
Slide 20: 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 up to 2,748 g/T Au, 28 Oz/T Ag Red Silver Resource Bonanza Grades exposed in a Global Resource of 1.9 Mt @ 16 Oz/T
Slide 21: Silver High Grade Opportunities 2026: Red Silver
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. ▪ Proven Scale: 6 principal veins and 67 veins and splits with 410m vertical development A significant resource has been generated a
Slide 22: Red Silver: Recent Sampling in Historical Galleries
SILVER HIGH GRADE OPPORTUNITIES 2026 Red Silver: Recent Sampling in Historical Galleries ▪ Systematic underground channel sampling ▪ Exceptionally high silver grades, with vein averages of ~10–12 oz/t Ag ▪ Peak values exceeding 40 oz/t Ag, confirming the high- grade nature of the system ▪ Validate h
Slide 23: 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 | OTC: AGXPF | FRA: AGX 23
Slide 24: 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 services from local suppliers underground operations 1,379,629 100% silver equivalent ounces compliance with processed in 2024 environmental requirements 300,0
Slide 25: Near Term Catalysts
NEAR TERM CATALYSTS ▪ Achieve 1,000 tpd by June-26 ▪ Tangana EIA at 1,500 tpd, Current ▪ “Plan 100” initiative aims expected 1H26 Production Permits for US$100/tonne operating and ▪ Recuperada MEIA at 1,500 tpd sustaining costs expected in 2026-27 ▪ Published Sep. 04, 2025 ▪ Commenced 40,000m drill
Slide 26: Management and Board of Directors
MANAGEMENT AND BOARD OF DIRECTORS Experienced Management and Board – Proven Track Record MANAGEMENT BOARD OF DIRECTORS José M. García | CEO & Director Francis Johnstone | Director Co-founder of predecessor company, Latitude Silver. +12 years as Investment Advisor to Baker Steel +20 years as Mining E
Slide 27: Capital Structure
CAPITAL STRUCTURE 15% insider ownership with strong institutional support Major SHARE STRUCTURE As of Jan 16, 2026 Shareholders 9% 6% Market Capitalization $299M Institutional Shares Outstanding 274.5M Management Warrants1 53.3M Retail Options2 8.6M RSU’s 0.5M 85% Fully Diluted 336.8M Note: 1) C$0.3
Slide 28: Contact Us
CONTACT US Jose Garcia | CEO j.garcia@silverxmining.com Investor Relations & Media ir@silverxmining.com Lima Office Vancouver Office Avenida Santo Toribio 115 Suite 1012 – Oficina 502B 1030 West Georgia St. San Isidro, Lima, 15073 Peru Vancouver, BC V6E 2Y3 Canada www.silverxmining.com @Silver_X_Min
Slide 29: Share Performance 3 Months
SHARE PERFORMANCE 3 MONTHS TSX.V: TSX.V: TSX.V: AGX AGX || OTC: AGX OTC: AGXPF AGXPF | OTC: | FRA: AGX | FRA: AGXPF | AGX FRA: AGX 29
Slide 30: Organic Growth Strategy
ORGANIC GROWTH STRATEGY Production Re-rate ▪ 6–18 month mine plan developed by the Strategic Technical Committee Development ▪ Clear communication of the company’s ability to deliver consistent throughput from multiple mining fronts ▪ Tangana expanded to 720tpd for a 2Moz AgEq production profile ▪ C
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