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or Name
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PPX Mining Corp
Symbol PPX
Shares Issued 466,465,617
Close 2018-08-14 C$ 0.10
Market Cap C$ 46,646,562
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PPX Mining mines, processes 2,741 t of sample in June

2018-08-16 07:47 ET - News Release

Mr. Brian Maher reports

PPX PROVIDES JUNE 2018 BULK SAMPLING RESULTS FOR MINA CALLANQUITAS

PPX Mining Corp. mined and processed over 2,741 tonnes of bulk sample grading 8.30 grams per tonne gold during the month of June, 2018, at Mina Callanquitas. In addition, 215 metres of lateral mine development and exploration were also completed during the month as the company continues to focus on the development of underground mine infrastructure. Highlights of the bulk sampling results for June are given below.

The company's mining partner Proyectos La Patagonia SAC (PLP) provided the company with a detailed report on operations at Mina Callanquitas for June, 2018. PLP reports that 2,741 tonnes of gold mineralized rock were shipped to the Malin plant of Silver Cascas SAC. The average gold grade of the mineralized material was 8.30 grams per tonne gold. Gold recoveries from processing the mineralized rock at the Silver Cascas processing plant ranged from 73.0 per cent to 88.1 per cent, consistent with gold recoveries observed in previous bulk samples. Since the inception of the test mining program, PPX has bulk sampled over 29,953 tonnes of mineralized material from the previously defined inferred resource at Mina Callanquitas. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.

PLP also completed over 215 metres of lateral development and exploration during the month of June. The development work will allow the use of real-life development costs in the company's prefeasibility study (PFS) that is expected to be completed in September, 2018. With the completion of the PFS, it is anticipated that the bulk sampling program will be concluded.

The information in this press release and the test mining/bulk sampling program do not represent a decision by the company to commence commercial production at the Igor project. The test mining/bulk sampling program is designed to gather the required data to produce an accurate economic evaluation in the company's PFS.

Brian J. Maher, president and chief executive officer of PPX Mining, commented: "PPX is working closely with our independent geological, engineering and metallurgical consultants in order to complete the Igor project PFS as soon as possible. Our consultants project a September timeline for completing the document. All data, including the most recent bulk sampling results, are in their hands and the information is being integrated into the data analysis and PFS preparation. We look forward to reaching the prefeasibility milestone and moving on to the next phase in advancing the Igor project."

About PPX Mining Corp.

PPX Mining is a Canadian-based exploration and development company with assets in northern Peru. Igor, the company's 100-per-cent-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad department. PPX is pursuing a two-prong strategy to further develop and explore the Igor project. The company has begun work on its underground test mining and bulk sampling program which is designed to upgrade the resource estimate and generate data to evaluate the possibility of future mine development at Igor through the PFS process.

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

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