Silver X expands Red Silver drill program to 6,650 meters

Two-phase underground program designed to grow the current Mineral Resource and upgrade Inferred ounces, following channel sampling of 735 g/t Ag over 65 meters of strike VANCOUVER, BC / ACCESS Newswire / July 22, 2026 / Silver X Mining Corp. (TSXV:AGX)(OTCQX:AGXPF)(F:AGX) ("Silver X" or the "Company") is pleased to announce that underground diamond drilling is underway at the Red Silver Project (María Luz sector), part of the Company's flagship Nueva Recuperada Project in Huancavelica, Peru. Following the results of the underground channel sampling program announced earlier this year, the Company revised its planned drill program from the initial 1,200 meters to approximately 6,650 meters. The expanded program is designed to systematically test mineralized vein systems identified during the underground channel sampling campaign and support the expansion of the existing Mineral Resource while increasing geological confidence through additional drilling.

Highlights 6,650-meter underground diamond drill program in two phases, expanded from the 1,200 meters originally announced in January 2026. Dual objective: grow the current NI 43-101 Mineral Resource and upgrade portions of the Inferred Resource to Measured and Indicated categories, where supported by drilling. Follows high-grade channel sampling including 735 g/t Ag over 65 meters of strike and 649 g/t Ag over 40 meters of strike on the Silvia Vein.

Low-cost, fast execution: drilling is conducted from existing underground workings, located approximately 8 kilometers from the Company's Nueva Recuperada processing plant. High-grade and silver-pure: diluted mining inventory of 13.83 oz/t (430 g/t) Ag reported in the Company's 2025 PEA, with silver accounting for over 90% of in-situ metal value. District-scale upside: the María Luz sector hosts 67 identified veins and splits with a demon