PPX Mining Corp V.PPX

PPX Receives Final Construction Permit

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PPX Receives Final Construction Permit

Toronto – September 20, 2024 – PPX Mining Corp. (the “Company” or “PPX”, including its Peruvian subsidiaries) is pleased to announce that yesterday it received its final construction permit for the CIL and Flotation plant that the Company is planning to build in its Igor Project, located in La Libertad, Peru (the “Plant”).  The permit was issued by the Gerencia Regional de Energia Minas e Hidrocarburos (GREMH), the competent Peruvian permitting authority, under resolution number 000620-2024 issued on September 19, 2024.

This final permit allows PPX to start construction activities immediately and constitutes the last condition precedent to access a US$6M facility that the Company arranged early this year with its major shareholder for construction purposes (See January 2, 2024 press release).

John Thomas, CEO commented “We are delighted to receive the final construction permit to start building at Igor. The Plant will initially process oxides and sulphides from the Callanquitas Mine. It will produce dor bars and a high grade gold and silver concentrate. Once the Plant becomes operational in about 10 months, it is expected  to reduce substantially the operating cost of the mine and expand its resource due to a much lower cut-off grade compared to the existing one, since mined material from Callanquitas won’t require anymore to travel about 600 km to third-party high-cost toll milling facility. Building the Plant will become a transformational milestone for the Company.”