PPX Confirms Outstanding Metallurgical Test Results On Hole CA-24-07

TORONTO, April 9, 2024 - PPX Mining Corp. (TSX.V:PPX) (the "Company" or "PPX") is pleased to announce the results of test work carried out by BaseMet Laboratories, Kamloops, BC, Canada; carried out on the drill core obtained from drill hole CA-24-07, previously reported.

As indicated on March 07, 2024, two intercepts were reported, one of an oxidized breccia with grades of 12.05 g/t gold and 300.9 g/t silver, over the 5.25 meters of drill intercept; and a second, of a sulfated vein with grades of 10.3 g/t gold, 1670 g/t silver and 4% copper, over 9.2 meters of drill intercept. The oxidized breccia was tested using a carbon in leach process, while the sulfated sample was tested using flotation.

The oxidized breccia was leached for 48 hours, recovering 92.2 % of the gold and 87.5% of the silver, with a cyanide and lime consumption of 1.6 and 3.9 kg/t, respectively. These results are similar to, but somewhat higher, than the ones obtained previously with the breccia samples. The calculated grade of the material leached was 13.4 g/t, similar to the reported from assaying the drill core.

The sulfated vein material was treated using froth flotation, using potassium amyl xanthate as collector and MIBC as frother, the same reagents used in previous test work and those that will be used in the planned processing plant. Recovery of gold and silver to concentrate were excellent, achieving 97.1% and 94.8% respectively, with 96.1% of the copper reporting to the concentrate which had grades of 22.2 g/t gold, 3558 g/t silver and 7.8% copper. The calculated grades of the feed to flotation was again similar to the assayed grade of the drill core.

Dr. John Thomas, CEO of PPX Mining commented, "these excellent results confirm the high value of the material intercepted in hole CA-24-07 and validate the production units of the plant that the Company is planning to build. These results also reaffirm the high priority to continue drilling this zone with the objective of establishing a reserve of this material".

About PPX Mining Corp:

About PPX Mining Corp: PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, BVL: PPX) is a Canadian exploration and development company with assets in northern Peru. The Company's 100% owned Igor gold and silver project is located in the prolific northern Peruvian gold belt in the department of La Libertad. PPX is pursuing a two-pronged strategy to further develop and explore Project Igor. The Callanquitas structure is open along strike and at depth. Parallel structures have not yet been explored. The new discoveries in Portachuelos in 2018, as well as the exploration targets in Domo and Tesoros, show that the Igor Project is becoming a district-scale project with multiple deposits and mineralized zones. Evaluating mineral development alternatives in parallel with exploration drilling will provide dual catalysts for growth and increased shareholder value.

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.

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 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 required regulatory approvals in connection with this transaction. 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.