PPX Mining Completes Debt Settlement Transaction

TORONTO, July 26, 2023 - PPX Mining Corp. (the "Company") is pleased to announce that further to its press release dated July 11, 2023, the Company has completed its debt settlement with a former officer of the Company (the "Creditor") by issuing 6,297,800 common shares of the Company (each, a "Share") at a deemed issue price of US$0.02 (C$0.0273) per Share to the Creditor as settlement of a severance payment in the amount of US$125,956 (the "Severance Settlement"), and repaying the principal amount of a loan in the amount of US$26,928 that was previously owed by the Company to the Creditor. The Company received the approval of the TSX Venture Exchange (the "Exchange") to the Severance Settlement. The Shares are subject to a hold period expiring on November 27, 2023, in accordance with applicable securities laws and the policies of the Exchange. See the press release of the Company dated July 11, 2023 for further information with respect to this debt settlement.

PPX Mining Corp. (TSXV: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.

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.

SOURCE: PPX Mining Corp.