PPX Mining amends royalty deal with Silver Crown

Mr. John Thomas reports PPX MINING CORP. AMENDS SECOND TRANCHE PAYMENT TERMS OF SILVER ROYALTY AGREEMENT WITH SILVER CROWN ROYALTIES INC. PPX Mining Corp. has, together with Silver Crown Royalties Inc., amended certain terms of the silver royalty agreement between the company and Silver Crown Royalties originally dated Dec. 13, 2024. The second-tranche price of the silver royalty agreement in the amount of $1.47-million (U.S.), originally payable by Silver Crown Royalties to PPX on or before Aug. 6, 2025, has been amended in order to split the payment obligation in two and extend the time by which the total amount of $1.47-million (U.S.) must be paid. In connection with these amendments, a total of $833,000 (U.S.) of the second-tranche payment has been paid by Silver Crown Royalties to PPX, and the remaining $637,000 (U.S.) will be payable on or before Dec. 31, 2025. Proceeds will be used by PPX to support its continuing construction of the CIL (carbon-in-leach) and flotation plant at the company's Igor project, located in La Libertad, Peru. In connection with the split of the second-tranche payment obligations and the partial payment made by Silver Crown Royalties, the royalty percentage and total payable ounces to which Silver Crown Royalties is entitled under the silver royalty agreement have been increased pro rata by the amount paid (relative to the total amount payable) by 5.1 per cent (to a total of 11.1 per cent) and 76,500 ounces of silver (to an aggregate total of 166,500 ounces of silver), respectively. Upon payment by Silver Crown Royalties to PPX of the remainder of the second tranche price (being $637,000 (U.S.)), the royalty percentage and total payable ounces will increase by an additional 3.9 per cent (to a total of 15 per cent) and 58,500 ounces of silver (to an aggregate total of 225,000 ounces of silver), respectively, as originally contemplated in the silver royalty agreement. In consideration of the splitting and extension of the second-tranche payment, the parties also amended the silver royalty agreement to extend the date by which the minimum silver royalty that Silver Crown Royalties is entitled to receive under the silver royalty agreement will commence, from the original date of Oct. 1, 2025, to March 31, 2026 (subject to earlier commencement upon start-up of metallurgical operations at the beneficiation plant). Further details regarding the silver royalty agreement can be found in the company's press releases dated Dec. 16, 2024, and Feb. 6, 2025, announcing closing of the first tranche. A copy of the royalty agreement is available and a copy of the royalty amendment will shortly be available on the company's SEDAR+ profile. 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.