VANCOUVER - SILVER X MINING CORP. (TSXV: AGX) (OTC Pink: WRPSF) ('Silver X' or the 'Company') is pleased to provide an update for the Tangana Mining Unit ('Tangana') at the Company's Nueva Recuperada project in Huancavelica, Peru.

Tangana encompasses 6 principal polymetallic veins that together host an estimated 4,840,015 tonnes of inferred resource grading 116.33 g/t Ag, 3.35% Pb and 1.63% Zn1. Silver X geologists have identified a further 5 potentially economically mineralized veins. In total, the targeted veins identified within the Tangana vein field cover more than 11 kilometres in combined length. Historical production of polymetallic ore from 1959 to 1976 totalled 269,129 tonnes and was halted due to poor metal pricesz1.

Tangana covers some 4,500 ha of prospective silver-polymetallic ground and provides feed to the Recuperada plant which resumed processing material in 2019, has a capacity of 210,000 tpa and has sold USD $6.5M of polymetallic concentrate in H1-2021 YTD in this mine preparation phase; offsetting most of the exploration and corporate costs to date. The Company has initiated a 25,000-metre drill programme (announced July 19, 2021) of which 9,700 metres are aimed at expanding knowledge on and upgrading the quality of the Tangana inferred resource. Silver X also plans to boost underground mine infrastructure development in potentially economic silver-polymetallic mineralization at Tangana Mining Unit. Silver X initiated a permitting process in Q2 to upgrade the plant's capacity from 600 tpd to 720 tpd; with approval expected in Q3. At an appropriate time upon completion of the Company's programmed resource evaluation activities which include underground drilling and bulk sampling, an updated Silver X NI 43-101 technical report will be released. Silver X has budgeted more than 2,300 m of underground development in Tangana in combination with the drilling program.

Tangana Exploration

In addition to the 3 veins currently being developed for mining, 8 additional historically known polymetallic veins occur. This system of subparallel and conjugate veins covers a WNW-trending belt that is some 3,500 meters wide. The sum of strike for known Tangana veins covers more than 11 km in total, with the longest single vein, Cauca, being 2.2 kilometres long.

In the eastern portion of Tangana's 'San Antonio' vein, the polymetallic and silver veins are hosted in carbonates where mineralized structures average 4-metre in width, with an average grade of 218.97 g/t AgEq2. In the volcaniclastic-dominated western portion, this vein is on average 1.5 metres in width.

The Company is prioritizing underground mine development and resource expansion drilling in this extensive system of silver-polymetallic veins to provide feed for a future increase in production at Tangana, having completed more than 330m by July 2021. Additionally, in the coming months, the Company plans to open access crosscuts from near the principal Tangana portal to initiate underground infrastructure development and bulk-sampling of the nearby Morlupo vein, followed thereafter by development of the Cauca vein.

About Silver X Mining

Silver X Mining is a Canadian silver mining company with assets in Peru and Ecuador. The Company's flagship asset is the Nueva Recuperada silver lead zinc project located in Huancavelica, Peru. Founders and management have a successful track record of increasing shareholder value. Silver X Mining has introduced a fully NI 43-101 compliant quality assurance/quality control (QA/QC) protocol on all its advanced and exploration projects. Our trained QAQC staff insert both fine and coarse blank samples, field duplicates and twin samples into each batch of field samples prior to delivery to the independent certified analytical laboratory. These QAQC samples, including the random insertion of certified reference material, are designed to provide an independent check on precision, accuracy and possibilities of contamination during sample preparation and analytical procedure within the elected commercial laboratory. With the objective of assuring best practice compliance, resource and exploration related assay results will not be reported until the results of internal QAQC procedures have been internally reviewed and approved.

Contact:

Tel: 1 604 358 1382

Email: j.garcia@silverx-mining.com

Cautionary Statement Regarding 'Forward-Looking' Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as 'expects', 'intends', 'is expected', 'potential', 'suggests' or variations of such words or phrases, or statements that certain actions, events or results 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements in this news release include statements in respect of the Company's exploration plans and development potential for the Company's properties. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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