PPX Announces Test of Sulfide Ore Processing

TORONTO, December 4, 2024 - PPX Mining Corp. (TSXV:PPX)(BVL:PPX) (the "Company" or "PPX", including its Peruvian subsidiaries) is pleased to announce that a 2,222 DMT lot of sulfide ore from the Callanquitas Mine was sent to a local plant for processing by froth flotation. The lot also contained some oxidized mineral with an estimated grade of 3.38 gr/tn of gold and 243.85 gr/tn of silver. Laboratory test was carried out to establish the amount of collector (potassium amyl xanthate) and frother (MIBC) required for processing.

The first batch of concentrate, amounting 142.05 tones was loaded and sent for sale. The analysis of the concentrate was 13.40 gr/tn of gold and 1,274.31 gr/tn of silver, with an estimated yield of 8 tones of mined material per tone of concentrate. The value of this concentrate paid by the buyer was US$1,944.54 per tone.

The rest of this material is being processed and shipped. Due to oxidation (transitioning zone from oxides to sulfides), the average recovery to concentrate was 53.05% for gold and 75.50% for silver, in line with management expectations. Laboratory test on sulfides with no oxidation have given gold recoveries in excess of 90%. Ongoing testing is planned to optimize metallurgical parameters for transitional zone.

John Thomas, CEO commented "test showed that a significant cash flow can be generated, even from the transitional zone, and it is expected that a further increase in recoveries can be obtained once unoxidized zone is reached".

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.

On behalf of the Board of Directors

John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 plans 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," "would" 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.