Silver X Mining Corp. Delivers Record 1Q26 Results with $4.6M Net Income and Significant Balance Sheet Expansion

About this update from Silver X Mining Corp

(All dollar amounts expressed in US dollars unless otherwise noted) VANCOUVER, BC / ACCESS Newswire / May 29, 2026 / SILVER X MINING CORP. (TSXV:AGX)(OTCQX:AGXPF)(F:AGX) ("Silver X" or the "Company"), a growing precious metals producer building a multi-asset platform in Peru, reports its financial results for the three months ended March 31, 2026, from its Nueva Recuperada Project. 1Q26 Highlights: Strong Revenue Growth and Significant Balance Sheet Expansion Silver X delivered a strong start to 2026, driven by higher realized metal prices, increased mill throughput, and continued operational execution. Key highlights include: These results reflect the combined impact of higher metal prices, improved operating performance, and the successful execution of a transformational capital raise, reinforcing the Company's ability to grow and generate margin expansion. Higher Metal Prices Driving Revenue and Profitability The first quarter benefited from significantly stronger realized prices across key metals: Stronger metal prices, combined with solid operating performance and improved ore quality, drove materially higher revenues and earnings during the quarter. Improved Throughput, Grades and Mine Performance Operational performance continued to strengthen during the quarter, supported by higher mill throughput, stable mining volumes, and improved ore quality: Higher mill throughput reflects continued operational improvements at the plant, enabling increased processing volumes while maintaining stable mining rates. At the same time, stronger head grades highlight the effectiveness of the Company's strategy to prioritize higher-value material. Silver X continues to focus on value over volume, optimizing mine sequencing and ore selection to enhance margins and overall economic performance. These initiatives also support the Company's ongoing ramp-up toward its targeted production capacity of 1,000 tpd in 3Q26. Cost Structure and Margin Performance Cost performance for the quarter reflects an ongoing investment phase aligned with the Company's growth trajectory. Cash costs were $151.71 per tonne processed ($37.84 per AgEq ounce) and AISC was $213.43 per tonne ($53.24 per AgEq ounce). The Company's average realized silver price of $91.39 per ounce against AISC of $53.24 per AgEq ounce translated into an ASIC margin of $38.15 ...

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