Dr. John Thomas reports

PPX CONFIRMS OUTSTANDING METALLURGICAL TEST RESULTS ON HOLE CA-24-07

PPX Mining Corp. has released the results of test work carried out by BaseMet Laboratories, Kamloops, B.C., Canada, carried out on the drill core obtained from drill hole CA-24-07, previously reported.

As indicated on March 7, 2024, two intercepts were reported, one of an oxidized breccia with grades of 12.05 grams per tonne gold and 300.9 g/t silver, over the 5.25 metres of drill intercept; and a second, of a sulphated vein with grades of 10.3 g/t gold, 1,670 g/t silver and 4 per cent copper over 9.2 metres of drill intercept. The oxidized breccia was tested using a carbon in leach process, while the sulfated sample was tested using flotation.

The oxidized breccia was leached for 48 hours, recovering 92.2 per cent of the gold and 87.5 per cent of the silver, with a cyanide and lime consumption of 1.6 and 3.9 kilograms/tonne, respectively. These results are similar to, but somewhat higher, than the ones obtained previously with the breccia samples. The calculated grade of the material leached was 13.4 g/t, similar to the reported from assaying the drill core.

The sulphated vein material was treated using froth flotation, using potassium amyl xanthate as collector and MIBC as frother, the same reagents used in previous test work and those that will be used in the planned processing plant. Recovery of gold and silver to concentrate were excellent, achieving 97.1 per cent and 94.8 per cent, respectively, with 96.1 per cent of the copper reporting to the concentrate which had grades of 22.2 g/t gold, 3,558 g/t silver and 7.8 per cent copper. The calculated grades of the feed to flotation was again similar to the assayed grade of the drill core.

Dr. John Thomas, chief executive officer of PPX Mining, commented: "These excellent results confirm the high value of the material intercepted in hole CA-24-07 and validate the production units of the plant that the company is planning to build. These results also reaffirm the high priority to continue drilling this zone with the objective of establishing a reserve of this material."

About PPX Mining Corp.

PPX Mining is a Canadian exploration and development company with assets in northern Peru. The company's 100-per-cent-owned Igor gold and silver project is located in the prolific northern Peruvian gold belt in the department of La Libertad. PPX is pursuing a two-pronged strategy to further develop and explore Project Igor. The Callanquitas structure is open along strike and at depth. Parallel structures have not yet been explored. The new discoveries in Portachuelos in 2018, as well as the exploration targets in Domo and Tesoros, show that the Igor project is becoming a district-scale project with multiple deposits and mineralized zones. Evaluating mineral development alternatives in parallel with exploration drilling will provide dual catalysts for growth and increased shareholder value.

All scientific and technical information in this press release has been reviewed and approved by Dr. John Thomas, PEng, who is a qualified person under the definitions established by National Instrument 43-101.

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