Silver X Mining Corp. reports developments tied to its precious-metals exploration, development and production platform in Peru. Recurring updates cover operating and financial results from the Nueva Recuperada Project, production activity at the Tangana Mining Unit, underground drilling and mine-development work at Blenda Rubia, and portfolio expansion through the Pampas gold-silver project.
Company news also includes capital-structure actions such as secured convertible debenture financings, board and governance changes, and operating plans for multiple mining fronts. The disclosures center on silver-polymetallic mineralization, processing performance, unit-cost trends, project development, and the funding used to support exploration, development capital and working capital.
Silver X Mining (AGXPF) reported a 42% year-over-year increase in silver-equivalent ounces processed at Nueva Recuperada in third-quarter 2026.
For the quarter ended September 30, processed ore rose 63% to 54,681 metric tonnes, while ore mined increased 113% to 60,694 metric tonnes. Gold processed rose 119% to 1,641 ounces, and silver processed increased 47% to 138,724 ounces. Silver-equivalent output, which combines metals into a silver-based measure, reached 225,237 ounces, up 35% year over year.
Against second-quarter 2026, processed tonnage fell 12% and silver-equivalent output fell 20%. Silver X attributed the declines to equipment work limiting throughput and lower silver, lead and zinc grades as mining prioritized development. The company expects the plant to reach 1,000 metric tonnes per day in fourth-quarter 2026. Underground development increased to 3,397 meters, with ore mined exceeding processing by approximately 6,000 metric tonnes.
Silver X Mining (AGXPF) reported a major updated Mineral Resource Estimate for the Nueva Recuperada Project effective August 31, 2026.
Measured and Indicated resources rose 173% to 10.4 Mt containing 70.8 Moz AgEq, including 41.8 Moz silver, while Inferred resources increased 43% to 21.6 Mt containing 180.9 Moz AgEq, including 120.1 Moz silver. Red Silver now hosts 517,171 t of Measured and Indicated grading 623 g/t Ag (10.4 Moz) plus 3.11 Mt of Inferred grading 532 g/t Ag (53.2 Moz), the highest grades in the district. A new bulk-tonnage resource at Blenda Rubia in the Plata unit adds 5.5 Mt of Indicated at 112 g/t AgEq (19.8 Moz AgEq), amenable to bulk underground mining.
Measured and Indicated tonnes now cover about 85% of the 12.25 Mt mining inventory in the 2025 PEA, versus 31% previously.
Silver X Mining (OTCQX:AGXPF) reported record 2Q26 net operating revenue of $17.3 million, up 29% versus 1Q26 and 221% year-over-year, driven mainly by higher throughput and grades at the Nueva Recuperada Project. Adjusted EBITDA reached a record $6.9 million, while operating income rose to $7.5 million.
The company generated 2Q26 net income of $3.1 million, contributing to first-half 2026 net income of $7.7 million versus a $0.4 million loss in first-half 2025. Record quarterly throughput of 62,252 tonnes lifted AgEq production 57% quarter-over-quarter, while AISC per AgEq ounce fell 13% to $46.10. Silver X ended the quarter with $49.7 million in cash and $35.1 million of working capital, supported by a March 2026 issue of C$69.0 million senior secured convertible debentures. Management expects to reach a 1,000 tpd run rate in 3Q26 and is expanding drilling and project integration across its Peruvian multi-asset platform.
Silver X (OTCQX:AGXPF) has expanded its underground diamond drill program at the Red Silver Project (María Luz sector) in Peru from 1,200 to approximately 6,650 meters in two phases. The work follows high-grade channel sampling on the Silvia and Rossana veins, including 735 g/t Ag over 65 meters of strike and 649 g/t Ag over 40 meters.
The program aims to grow the current NI 43-101 Mineral Resource and upgrade portions of the 1.91 million tonnes of Inferred and 41,600 tonnes of Measured & Indicated resources, where supported by drilling. According to Silver X, Red Silver’s diluted mining inventory in the 2025 PEA is 892,534 tonnes at 13.83 oz/t (~430 g/t) Ag, with silver contributing over 90% of in-situ metal value. Drilling from existing underground workings about 8 km from the Nueva Recuperada plant is intended to keep exploration costs low and support the company’s district growth strategy.
Silver X (OTCQX:AGXPF) reported record quarterly production at its Nueva Recuperada project for 2Q26. Processed tonnage rose to 62,252 MT, up 39% quarter-over-quarter and 78% year-over-year, sustaining nominal plant capacity of about 750 MT per day.
Silver processed increased 40% QoQ and 75% YoY to 175,560 oz, while gold processed climbed 55% QoQ and 233% YoY to 2,204 oz. Silver equivalent reached 380,436 oz processed and 283,029 oz produced, up 50% and 57% QoQ. Underground development advanced 3,159 m, supporting future expansion. First-half 2026 output totaled about 634,000 AgEq oz processed and 463,000 AgEq oz produced, which Silver X views as consistent with its path toward approximately 6 million AgEq ounces annually by 2029.
Silver X Mining (OTCQB:AGXPF) appointed Joseph Gallucci to its Board of Directors, effective immediately. Gallucci is Managing Director and Head of Mining Investment Banking at Ventum Financial and has over 20 years of mining-focused capital markets and equity research experience.
He has raised several billion dollars for mining companies and advised on major M&A transactions. According to Silver X, his appointment supports its strategy to scale Peruvian production toward about 6 million AgEq ounces annually by 2029 and strengthen governance, capital markets access, and long-term value creation.
Silver X (OTCQB:AGXPF) acquired 100% of the Lily 19 concession, consolidating ownership of the Ccasahuasi gold project in the Nueva Recuperada district, Peru, for US$30,000.
Ccasahuasi hosts an Inferred Mineral Resource of 1,405,587 tonnes at 0.936 g/t Au (42,303 oz Au; 3.23 Moz AgEq), based on only 903.5 m of drilling, and lies about 1 km from the producing Tangana mine.
Silver X (OTCQX:AGXPF) reported new underground drilling results from the Blenda Rubia target at Nueva Recuperada in Peru. Hole DDH-BR-016 cut 104.20 m apparent (40.71 m true) at 98.7 g/t AgEq (69.53 g/t Ag, 0.87% Pb, 0.28% Zn, 0.02% Cu).
Higher-grade intervals include 4.12 m true width at 274.5 g/t AgEq in Vein 1 and 2.64 m at 172.1 g/t AgEq in Vein 3. The intercept sits about 60 m below historic workings, indicating down-dip continuity within a broader polymetallic corridor that could support wider mining fronts.
Silver X Mining (OTCQX:AGXPF, TSXV:AGX) reported record 1Q26 results from its Nueva Recuperada project, with net operating revenue of $13.4M (up 155% YoY) and net income of $4.6M. Operating income reached $7.0M and EBITDA was $6.1M.
Cash rose to $53.8M and total assets to $129.6M, supported by a $50.3M senior secured convertible debenture and the Pampas Gold-Silver Project acquisition. Higher realized silver ($91.39/oz) and gold ($5,131/oz) prices, improved grades, and a $38.15/oz AISC margin underpinned performance.
Silver X Mining (OTCQX:AGXPF) began trading on the OTCQX Best Market, upgrading from OTCQB and expanding access to U.S. investors. The company continues to trade on TSX Venture as AGX. Silver X operates the Nueva Recuperada Silver District in Peru, processing about 750 tonnes per day with a path to 1,000 tonnes.