Mr. Ernest Mast reports

PPX MINING REPORTS CALLANQUITAS OPERATING RESULTS FOR THE FIRST NINE MONTHS OF 2026

PPX Mining Corp. has released the operating results of the Callanquitas operation, located within the company's Igor project in La Libertad, Peru, for the nine-month period ended Sept. 30, 2026.

During the first nine months of calendar 2026, the Callanquitas operation generated revenue of $78.5-million (194.7 million Peruvian sols), gross profit of $48.7-million (120.6 million Peruvian sols), operating profit of $47.0-million (116.6 million Peruvian sols) and income before taxes of $47.3-million (117.3 million Peruvian sols). The operation generated $32.4-million (80.5 million Peruvian sols) in net profit interest attributable to PPX during the reporting period.

Under the terms of the assignment agreement with its mining partner, Proyectos La Patagonia SAC, governing the Callanquitas operation, PPX through a Peruvian subsidiary is contractually entitled to an NPI equivalent of 75 per cent of the income before taxes generated by the mining operation, calculated in accordance with the provisions of the agreement. This NPI represents PPX's contractual economic participation in the Callanquitas operation.

The Callanquitas operation forms part of the company's activities at the Igor project, which also include the development of a 350-tonne-per-day processing plant and exploration programs at the same Callanquitas and in Portachuelos.

For the nine-month period ended Sept. 30, 2026, the Callanquitas operation recorded a gross margin of 62.0 per cent and an operating margin of 59.9 per cent. The operating results reflect mining activities conducted at Callanquitas and the sale and toll treatment of mineralized material during the reporting period.

Ernest Mast, president and chief executive officer of PPX Mining, commented: "The Callanquitas operation generated a record $78.5-million in revenue and $32.4-million in net profit interest attributable to PPX during the first nine months of 2026. These results reflect the ongoing mining activities at Callanquitas and the economic participation of PPX under the existing assignment agreement with PLP. During the same period, the company continued the development of its processing plant at the Igor project and advanced exploration activities at Callanquitas and Portachuelos. Our current priorities include completing the regulatory procedures required for initiating commercial production at our processing plant, continuing mining activities at Callanquitas and evaluating additional mineralized zones within the Igor project."

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.

We seek Safe Harbor.