Silver X Mining Corp. announced that it was not in a position to file its audited annual financial statements, management's discussion and analysis and related certifications, for the financial year ended December 31, 2021 on or before the filing deadline of May 2, 2022, as a result of delays resulting from COVID-19 among the Issuer's accounting staff and resulting delays with obtaining all the necessary documents for the Company`s auditors to complete their work in respect of the audit of the Issuer Statements. Upon application by the Company, the British Columbia Securities Commission has issued a management cease trade order under the provisions of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults so as to permit the continued trading in the Company's common shares by persons other than insiders and employees of the Company.

The Company's finance and accounting teams are working diligently with its auditors, and the Company expects to have the audit of the Issuer Statements completed, and the Issuer Statements filed, no later than May 30, 2022.