Silver X Mining Acquires 100% of Ccasahuasi: A Gold System Next Door to a Producing Mine, Defined with Only 903 Meters of Drilling and Open Along Strike and at Depth

About this update from Silver X Mining Corp

VANCOUVER, BC / ACCESS Newswire / June 4, 2026 / Silver X Mining Corp. (TSXV:AGX) (OTCQB:AGXPF) (FRA:AGX) ("Silver X" or the "Company") is pleased to announce that it has secured 100% ownership of the Ccasahuasi gold project ("Ccasahuasi" or the "Project") through the acquisition of the Lily 19 mining concession, located within its Nueva Recuperada district in Huancavelica, central Peru. Silver X's NI 43-101 Preliminary Economic Assessment for the Nueva Recuperada Project, effective May 31, 2025 (the "PEA"), includes an Inferred Mineral Resource of 1,405,587 tonnes grading 0.936 g/t Au and containing 42,303 oz Au, defined with fewer than 1,000 meters of drilling, sitting one kilometer from a mine that is already in production and acquired through a capital-efficient transaction structure. What the numbers do not yet tell is how far this system extends - and that is precisely the opportunity. Investment Highlights Capital-efficient acquisition: Silver X acquired 100% of the Lily 19 concession for total cash consideration of US$30,000, consolidating full ownership of the Ccasahuasi Project, which hosts an Inferred Mineral Resource of 1,405,587 tonnes grading 0.936 g/t Au and containing 42,303 oz Au. Next door to production: Ccasahuasi sits ~1 km from the Tangana mine, Silver X's producing asset. If the system extends toward Tangana as current interpretation suggests, incremental ounces could feed existing mill infrastructure with minimal additional CAPEX. Limited drilling completed to date: the current Inferred Mineral Resource of 1,405,587 tonnes grading 0.936 g/t Au and containing 42,303 oz Au was outlined using only 903.5 meters of diamond drilling in four holes. Three of those four holes returned intercepts exceeding 26 meters at grades above 0.7 g/t Au. The system has not been drilled to depth or along strike. Broad mineralized intervals: results include 45.9 m grading 0.97 g/t Au and 42.0 m grading 0.88 g/t Au. Intercepts are reported as drilled lengths; true widths have not been determined. Mineralization open for further evaluation: geologists interpret the tabular Au-Ag body as extending toward the south and southwest - toward the Tangana mine footprint. If confirmed by drilling, this interpretation could support future resource expansion within the Ccasahuasi target area. District gold potential: Ccasahuasi supports the geological rationale for fu...

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