SILVER X MINING CORP. Silver X Mining Corp. ("Silver X" or the "Company") announces positive results of a Preliminary Economic Assessment ("PEA") for the expansion of the Tangana Mining Unit ("Tangana"), the flagship asset within the Company's 100% owned Nueva Recuperada Silver District, which declared commercial production in January 2023. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") prepared by LOM Consultants.
All dollar amounts are in US dollars unless otherwise noted. Upgraded Mineral Resources to 3.60Mt of Measured and Indicated ("M&I") Resources from 0.98Mt in the 2022 Mineral Resource Estimate and 11.89Mt of Inferred Resources from 14.94Mt with a new resource block model, representing 3X growth in M&I Resources when compared to the previous reported estimate. Life of Mine ("LOM") of 12 years at a capacity of 1,500 tonnes per day ("tpd") based on a resource inventory of 5.75Mt, of which 1.75Mt corresponds to Measured Resources, 0.49Mt corresponds to Indicated Resources and 3.51Mt corresponds to Inferred Resources.
Average annual production of 4.2 million ounces ("Moz") of silver equivalent ("AgEq")1 with circa 5Moz AgEq mined. Robust economics with an After-Tax NPV of $175 million at 10% discount rate and After-Tax IRR of 39%. LOM Cash Costs of $8.8/oz AgEq and LOM All-In Sustaining Costs ("AISC")2 of $16.2/oz AgEq.
InitialCapex of $61 million, including 20% contingency, for the new processing facility, dry-stacked tailings and mine development.
