PPX Mining Obtains Significant Metallurgical Lab Results from Sulfide Ore

TORONTO, March 23, 2023 - PPX Mining Corp. (the "Company" or "PPX") PPX is pleased to announce excellent results of a first metallurgical test of sulfide ore. The samples used come from 3 diamond drill holes carried out between 2010-2012 in the southern section of the Callanquitas East mineralized breccia below the 3200 elevation. Current oxide mining activities are to the north. Historically, the Callanquitas deposit has been focused on this oxidized ore, and these first metallurgical results on sulfide ore are encouraging due to the high recoveries of both gold and silver, as well as the elevated silver content compared to the oxide ore. As of today, there are only 5 drill holes with sulfide information in the Callanquitas Este breccia and only 2 drill holes in the Callanquitas Oeste breccia. These drill holes were validated in the 2018-2019 pre-feasibility study. Further exploration will be carried out in the near future.

A composite was made from 3 samples associated to elevation 3150-3200, assaying 5.39 gr/t gold and 970 gr/t silver. Base Met Laboratories from Kamloops, British Columbia, Canada grounded this composite to a nominal 80% passing 75 microns. Gravity concentration was used, followed by flotation with a strong xanthate collector. The results showed a recovery to concentrate of 94.1% of the gold and 96.9% of the silver. The concentrate assayed 20 gr/t gold and 3720 gr/t silver.

John Thomas, Chief Executive Officer commented "very significant outcome from our sulfide ore. Even though more drilling will be required, these impressive initial results show interesting potential for a salable concentrate containing gold and elevated silver values".

About PPX Mining Corp:

PPX Mining Corp. (TSX.V:PPX.V)(BVL:PPX) is a Canadian-based mining company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.

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

On behalf of the Board of Directors
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737

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Cautionary Statement:

This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding test results, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain any required regulatory approvals, if applicable. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

SOURCE: PPX Mining Corp.