Silver X Intersects up to 17.86 m True Width at Blenda Rubia, Advancing Scalable Mining Strategy

VANCOUVER, BC / ACCESS Newswire / April 16, 2026 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") is pleased to report additional underground diamond drilling results from the Blenda Rubia target, located near the Company's Nueva Recuperada operation in central Peru.

The latest results continue to define a broad and continuous high-grade silver-polymetallic system, with estimated true widths reaching up to 17.86 meters and averaging approximately 6.0 meters in areas where the geometry of the system is sufficiently constrained by drilling and ongoing modelling.

Importantly, drilling indicates that mineralization extends beyond discrete veins into a wider mineralized corridor, supporting the potential for bulk-style mining scenarios in selected areas while maintaining vein mining elsewhere, and positioning Blenda Rubia as a potential low-cost feed source near the Company's processing plant, with the ability to enhance production scale and operating margins, representing a potential step change in mining scale and cost efficiency at Nueva Recuperada.

Key Highlights

• Up to 17.86 m true width intersected at Blenda Rubia, confirming significant mining widths

• 54.85 m apparent width (17.86 m true width) in DDH-BR-003, defining a broad mineralized corridor

• 35.35 m apparent width in DDH-BR-005, confirming continuity of mineralization beyond the current drill pattern

• Consistent widths averaging ~6.0 m true width where constrained by drilling

• Mineralization extends beyond discrete veins into a continuous mineralized corridor, supporting scale

• Geometry supports bulk-style mining in selected areas, while maintaining Silver X's conventional underground vein mining methods elsewhere

• System remains open and expanding, with mineralization extending outside the current drill footprint

CEO Statement - Step Change Toward Scalable Mining

José M. Garcia, CEO of Silver X, commented: "These results fundamentally change our understanding of Blenda Rubia. What we are seeing is not a narrow vein system, but a broad and continuous mineralized corridor that has the potential to support bulk-style mining in selected areas.

When combining these widths with consistent silver grades, the system has the potential to deliver strong value per tonne, which is critical as we scale production.

This is particularly important given the proximity to our processing plant, positioning Blenda Rubia as a potential low-cost feed source that can materially enhance our operating flexibility and cost profile.

As we continue to advance the asset, we see Blenda Rubia playing a key role in supporting multiple mining fronts and contributing to our objective of building toward 6 million silver-equivalent ounces of annual production. This combination of scale, grade and location is uncommon and highly strategic within our district."

Strategic Importance - Scalable, Low-Cost Growth Driver

Blenda Rubia is emerging as a key component of Silver X's production strategy at Nueva Recuperada.

The system complements high-grade narrow vein mining at Tangana by introducing the potential for wider mining zones and, in selected areas, bulk-style extraction, while maintaining conventional vein mining in other parts of the district. This combination supports:

• Improved mining efficiency and lower unit costs

• Strong value per tonne from consistent silver grades

• Reduced transportation costs due to proximity to the processing plant

• Increased production flexibility through multiple mining fronts

As the Company advances multiple mining areas, Blenda Rubia is expected to play an important role in supporting scalable production growth toward approximately 6 million silver-equivalent ounces annually.

Geological Interpretation - Broad Mineralized Corridor

The current geological model indicates that Blenda Rubia is controlled by two principal veins, Vein 1 and Vein 3, which locally converge and diverge along strike and at depth.

Drilling demonstrates that the space between these structures is consistently mineralized by veinlets, hydrothermal breccias and disseminated sulphides, forming a continuous mineralized corridor rather than isolated narrow veins.

This evolving interpretation supports the potential for greater scale, improved continuity and enhanced mine planning flexibility.

Next Steps

The Company is actively advancing Blenda Rubia through a focused and expanding drill program designed to rapidly define the scale and mining potential of the system.

• Step-out drilling is ongoing to extend the mineralized corridor laterally and at depth

• Infill drilling is being accelerated between key intercepts to define continuity and support near-term mine planning

• Multiple drill platforms are being utilized, enabling simultaneous advancement from different areas of the system

• Ongoing geological modelling is focused on defining mining shapes and evaluating bulk mining scenarios in selected zones

• Results are expected to continue expanding the system and supporting the integration of Blenda Rubia into the Company's production pipeline

Figure 1. Longitudinal Section of Blenda Rubia Vein 3

Table 1. Drill Hole Collar Locations and Orientation Parameters for Blenda Rubia

Drill hole collar locations and orientation parameters for the holes referenced in this release are provided in Table 1.

Table 2. Selected Drill Intercepts from Blenda Rubia

Notes:

1. "Composite mineralized package" refers to the combined interval formed by Vein 1, Vein 3 and the intervening mineralized fill of veinlets, breccias and disseminated sulphides, where recognized.

2. Estimated true widths are being calculated from the Company's current geological interpretations and ongoing vein modelling and may change as the interpretation is refined.

3. DDH-BR-005 was drilled well away from the main drill pattern. Because the local orientation of the vein system at the intercept point is not yet sufficiently constrained, only apparent width is reported for that hole at this stage.

4. DDH-BR-004 intercepted an extension of a barren post-mineral dyke and is therefore not included in this report.

Table 3. Drill Intercept Summary from the Current Geological Interpretation at Blenda Rubia