Mr. Brian Maher reports

PPX BEGINS UNDERGROUND TEST MINING AND BULK SAMPLING AT IGOR

PPX Mining Corp. has begun underground test mining and bulk sampling at Mina Callanquitas on its Igor project in northern Peru. The company's mining partner Proyectos La Patagonia SAC (PLP) has received the Autorizacion Inicio de Actividades (AIA, authorization to begin activities) from the regional authorities in the department of La Libertad. Underground development to facilitate the company's previously announced bulk sampling program has started, with initial work focused on the 3390 level of Mina Callanquitas.

PLP has begun excavating the 3390-level ramp and will immediately begin developing sublevel three for test mining and bulk sampling. The subvertical geometry of the Callanquitas structure combined with favourable topography will allow PLP to begin extracting gold and silver mineralized material rapidly in preparation for large-scale bulk sampling.

Gold and silver mineralized material mined during the initial stages of development of the 3390 level will be stockpiled. The company intends to process this preliminary bulk sample at a nearby toll-processing facility in order to calibrate the facility and verify its operating parameters. The stockpiled development rock is mineralogically and metallurgically similar to the bulk of the Callanquitas resource, and is therefore ideal for evaluating the suitability of the toll-processing facility for testing bulk samples of Callanquitas-style gold and silver mineralization. It is anticipated that several thousand tonnes of stockpiled gold and silver mineralized material will be processed during this evaluation phase.

The company and PLP intend to accelerate mine development by starting an additional ramp on the 3440 level. Using access from both levels, the company expects to be able to extract up to 150 tonnes per day of bulk sample by the first quarter of 2017. This will enable the extraction of large-volume bulk samples from the gold and silver resource blocks outlined by surface diamond drilling. The bulk samples will be used to verify the resource model, generate real-life mining cost profiles and validate previously completed bench-scale metallurgical testing.

The company plans to use the economic, engineering and technical data generated during the test mining and bulk sampling program as the basis for a prefeasibility study (PFS) to evaluate the economics of potential future mining operations at Mina Callanquitas. Bulk sampling at Mina Callanquitas is scheduled to continue throughout 2017.

All of the company's capital requirements for test mining and bulk sampling program have been met by previously completed private placements with PLP or its affiliates. PLP will be providing the balance of the upfront and working capital required for mine development, therefore the company will have no further capital commitments for test mining at Mina Callanquitas.

Kimberly Arntson, chief financial officer and vice-president of corporate development, commented: "Today is an important day for our shareholders and for the history of our company. With the commencement of underground bulk sampling at Mina Callanquitas, we begin a new phase in the growth of our company and begin a corporate transition. Our capital commitments for test mining have been met, and with the completion of our recent financing with RIVI Capital, the company is poised to move forward with a strong balance sheet."

Brian Maher, president and chief executive officer, commented: "We expect to begin shipping gold and silver mineralized bulk samples from Mina Callanquitas to a nearby processing facility very soon, and we look forward to reporting the initial results of processing this rock. We will accelerate test mining, targeting 150 tonnes per day by Q1 2017 in order to facilitate large-scale bulk sampling throughout 2017. Coupled with a revitalized exploration program at Igor, the company is positioned to make major steps forward in realizing the full value of our Igor project in 2017."

About PPX Mining Corp.

PPX Mining is currently exploring and evaluating mine development opportunities at its Igor mine project in northern Peru. The Igor project explores several high-grade gold and silver mineralized structures that host significant gold and silver resources. The Callanquitas structure at the Igor project contains inferred gold and silver resources of 7,189,000 tonnes grading 1.94 grams per tonne gold and 71.8 grams per tonne silver, containing 448,500 ounces of gold and 16.6 million ounces of silver at a cut-off grade of 1.5 grams per tonne gold equivalent. The company has begun work on its underground test mining and bulk sampling program, which is designed to validate and upgrade the resource estimate and generate data to evaluate the possibility of future mine development at Igor.

All scientific and technical information in this press release has been reviewed and approved by Quentin Browne, PGeo, independent consulting geologist to Peruvian Precious Metals, who is a qualified person under the definitions established by National Instrument 43-101.

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