Mr. Ernest Mast reports

PPX ADVANCES PERMITTING PROCESS FOR ELECTRICAL TRANSMISSION LINE TO THE IGOR PROCESSING PLANT

PPX Mining Corp. has made continued progress in the permitting process required to connect the Igor project processing plant to the public medium-voltage electrical grid.

To date, the company has achieved two key milestones: the approval of the detailed electrical engineering for the transmission line and the issuance of the certificate of non-existence of archeological remains, confirming that the project area is free of archeological remains.

The principal supporting documents include:

• Official letter issued by the Ministry of Culture on March 3, 2026, confirming the non-existence of archeological remains -- surface No. 105-2026-DDC-LIB/MC for the electrical transmission line project, based on the detailed engineering presented in technical report No. GR/P -- SU-IT-006-2026 prepared by Hidrandina;
• Technical approval issued by Distriluz (Hidrandina) under official letter No. HDNA-GR-0100-2026, granting technical conformity for the 13.8-kilovolt medium-voltage utilization system (designed for 22.9 kilovolts) with a maximum demand of 1.5 megawatts for the Igor project; the approval was granted on Jan. 23, 2026, based on technical report No. GR/P -- SU-IT-006-2026.

The planned electrical transmission line will extend approximately 6.3 kilometres, connecting the Igor project to an authorized connection point in the district of Huaranchal, province of Otuzco, department of La Libertad.

Construction of the transmission line will commence following the reinforcement of the existing electrical distribution network to Huaranchal. This reinforcement project will be executed by the Peruvian government through the Distriluz Group, specifically Hidrandina SA, under the project titled: "Improvement of Medium Voltage Feeders (AMTS) 13.2 kV CHA001 and CHA002 in the Districts of Charat, Usquil and Huaranchal, Province of Otuzco -- Department of La Libertad."

The initial phase of this project, consisting of the servitude clearance process, is currently under way. The government project will upgrade approximately 50.93 kilometres of medium-voltage lines and represents an investment of approximately 12.25 million Peruvian soles.

Access to grid power is expected to significantly improve the economics of the Igor processing plant by reducing operating costs associated with diesel-generated electricity and improving the overall energy efficiency of the operation. Transitioning to grid power is also expected to reduce the project's environmental footprint through lower fuel consumption and associated emissions.

Ernest Mast, president and chief executive officer of PPX Mining, commented: "Connecting the Igor plant to the public electrical grid will optimize our operating costs and lower the project's reliance on diesel fuel. While the initial commissioning of the plant will utilize diesel power, our objective is to complete the remaining milestones required to construct our dedicated transmission line from the nearest grid connection point."

We seek Safe Harbor.