Mr. John Thomas reports

PPX OBTAINS AUTHORIZATION FOR WATER UTILIZATION WORK AT IGOR PROCESSING PLANT

PPX Mining Corp. has received the directorial resolution No. 0912-2025-ANA-AAA.HCH dated Nov. 5, 2025, from the Water Administrative Authority of Huarmey Chicama, a regional branch of Peru's National Water Authority, authorizing the execution of water utilization works for the Igor carbon-in-leach and flotation plant, currently under construction.

The plant, designed with a capacity of 350 tons per day, will produce dore and precious metal concentrates from ore mined at the Igor project. This authorization marks another key milestone as the company continues advancing the construction of its gold and silver processing facility and securing the necessary permits for commissioning.

The directorial resolution specifically authorizes the installation of a 1,770-metre-long metallic pipeline and the construction of two pumping stations that will transport water from 3,070 to 3,570 metres above sea level, covering a vertical elevation difference of 500 metres. Construction activities are scheduled to commence in November, 2025, with completion expected within 98 calendar days.

John Thomas, chief executive officer of PPX Mining, commented: "This is a critical permit toward achieving the commissioning of our processing plant. Water is essential to the metallurgical process, and our engineering design incorporates a recirculation system that minimizes consumption, reduces environmental impact and promotes social responsibility. This sustainable approach is fundamental to maintaining harmonious relationships with the communities surrounding the project. With this authorization and the completion of construction, PPX will be able to obtain the final water use licence for the plant."

About PPX Mining Corp.

PPX Mining is a Canadian-based mining 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.

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