Mr. Jose Garcia reports

SILVER X MINING LAUNCHES BROKERED PRIVATE PLACEMENT OF UP TO C$60M IN CONVERTIBLE DEBENTURES

Silver X Mining Corp. has entered into an agreement with Ventum Financial Corp. as sole agent and sole bookrunner in connection with a best effort private placement offering by the company of up to $60-million aggregate principal amount of secured convertible debentures of the company.

In addition, the company has granted the agent an option to increase the size of the offering by up to 15 per cent of the number of convertible debentures, exercisable by the agent, in whole or in part, at any time up to three business days prior to the closing of the offering.

The principal amount of the convertible debentures will bear interest at a fixed rate of 10.0 per cent per annum, payable semi-annually, and will mature on the date that is five years from the closing date (as defined herein). For the first 24 months, the company may elect to pay interest in cash or shares at the company's sole discretion, and, thereafter, interest will be paid in cash.

The principal amount of each convertible debenture will be convertible, at the election of the holder, into common shares at a conversion price of $1.62 per common share at any time until the earlier of: (i) the business day preceding the maturity date; and (ii) the date of repayment in full of the principal amount of the convertible debentures and all accrued and unpaid interest thereon.

Silver X intends to use the net proceeds of the offering for development, working capital and general corporate purposes.

The offering is expected to close on or about Feb. 18, 2026, and remains subject to satisfaction of certain conditions, including the receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued under the offering will be subject to a hold period under applicable Canadian securities laws expiring four months and one day from the closing date of the offering.

Jose Garcia, president and chief executive officer of Silver X, commented: "This financing, when completed, will provide Silver X with the financial platform we need to advance the Nueva Recuperada property and continue executing on our strategic vision to become a meaningful and competitive silver producer. We look forward to working with Ventum towards the successful completion of the offering."

The convertible debentures may not be offered or sold in Canada except pursuant to exemptions from the prospectus requirements of applicable Canadian provincial and territorial securities laws.

About Silver X Mining Corp.

Silver X is a rapidly expanding silver producer and developer advancing the Nueva Recuperada project in Peru, a 20,795-hectare, district-scale land package with two mining units and over 200 targets. Current production at the Tangana mining unit is scaling alongside the planned restart of the Plata mine, supporting a path to approximately six million silver equivalent ounces annually by 2029. With immediate revenue, scalable growth and long-term discovery upside -- all within one integrated project -- Silver X is building the next-generation silver company defined by growth, resilience and responsible mining.

We seek Safe Harbor.