PPX Mining Engages Dr. Warren Pratt to Further Advance Structural Interpretation at Igor Project

The most recent news release, dated November 3, 2025, announces that PPX Mining Corp. has engaged Specialized Geological Mapping Ltd., led by Dr. Warren Pratt, to provide structural geology interpretation for its Igor Project in Peru. Dr. Pratt's team will review drilling results from both past and recent exploration campaigns to refine the structural model and assist in planning future exploration phases. The CEO, John Thomas, emphasized Dr. Pratt's expertise as invaluable for targeting and expanding high-grade mineralization zones at Igor.

This news is a routine, positive development that supports the long-term exploration strategy of PPX Mining. Engaging a specialist in structural geology for the Igor Project is a standard practice in mineral exploration, aimed at optimizing future drilling and increasing the understanding of the deposit's geometry.

While positive, this news is not immediately material in the context of the company's recent significant developments. Over the past few months, PPX Mining has reported: - Record Operational Results: September 2025 saw the strongest monthly operational results for the Callanquitas operation, setting new records for gross revenues, pre-tax income, and Net Proceeds Interest (NPI). This directly impacts the company's cash flow and profitability. - High-Grade Drill Results: Just prior to the operational update, PPX announced high-grade gold, silver, and copper intersections at the Callanquitas Sulfide Zone within the Igor Project, confirming continuity and high-grade nature of the deposit. - Strategic Investment and Offtake with Glencore: A binding Letter of Intent (LOI) with Glencore was a significant milestone. This includes a 9.99% equity investment, a life-of-mine offtake agreement for precious-metal concentrates, and technical collaboration, substantially de-risking the project's financing and sales. - Plant Construction Progress: The 350-tonne-per-day (tpd) carbon-in-leach (CIL) and flotation plant is under construction, targeting commissioning by year-end 2025. This plant is expected to significantly reduce operating costs and increase production capacity. - Financing Activities: Several private placements and tranches of a construction facility have been closed, providing capital for plant construction and exploration. The final payment of the Silver Crown Royalties agreement was also received, strengthening the balance sheet.

In comparison to these developments, the engagement of a geological consultant, while important for future resource definition, is a tactical step rather than a fundamental change to the company's current valuation or operational timeline. It is in line with expectations for a company actively exploring and developing its resource base and complements the high-grade drill results by aiming to optimize follow-up work. The news does not introduce new risks or resolve existing major challenges but rather reinforces confidence in the methodical advancement of the exploration aspect of the project.

PPX Mining Corp. is a Canadian exploration and development company primarily focused on its Igor Project in northern Peru. The Igor Project hosts the Callanquitas underground gold-silver deposit, which is currently in production through a mining assignment agreement with Proyectos La Patagonia SAC (PLP). The company is actively developing a 350-tonne-per-day (tpd) carbon-in-leach (CIL) and flotation processing plant at Igor, intended to process gold and silver-bearing ore from the Callanquitas mine. The plant construction is advancing, with commissioning targeted for year-end 2025. PPX is also engaged in ongoing diamond drilling programs at Callanquitas West and the sulfide zones, consistently reporting high-grade gold, silver, and copper intercepts that are expanding the understanding of the deposit's potential.