PPX Announces Excellent Test Work Results on Hole 7

TORONTO, July 15, 2024 - PPX Mining Corp. (the "Company" or "PPX) (TSX.V:PPX)(BVL:PPX) is pleased to announce that leach and flotation tests were carried out by BaseMet Labs, Kamloops, British Columbia, Canada on oxide and sulfide material obtained from Hole number CA 24-07 to determine expected recoveries and deleterious elements in the concentrate to be produced by PPX.

As mentioned in previous releases, Hole number CA 24-07 from our latest exploration campaign intersected significant high-grade material with oxide mineralization at 12 g/t gold and 3000 g/t silver over 5.2 meters intercept length; and sulfide mineralization at 10.3 g/t gold, 1671 g/t silver and 4% copper, over 9.2 meters intercept length. The test work results are as follows:

Leach Test

Carried out with activated carbon present to simulate carbon in leach (CIL), as the material is known to be "preg-robbing". The nominal grind was 80% passing 150 microns. An addition of sodium cyanide of 1.6 kg/t and Lime of 3.9 kg/t were used. Using pre-aeration and 48 hours leach time, the following results were obtained:

Flotation Tests

The grind was similar to the leach test (K₈₀150 microns). A 3-minute conditioning time and 5-minute flotation time were utilized. Potassium amyl xanthate was used as collector (165 g/t in total) and MIBC as frother (182 g/t was used). The following results were obtained:

Potential Penalty Elements:

The feed to flotation was not analysed for copper, but the assay of the drill core delivered 4%. This suggests a high recovery of copper to concentrate, as would be expected.

Recoveries to concentrate were excellent, as would be expected from such high-grade feed and concentrate obtained, with low level of potential deleterious elements.

John Thomas, CEO, commented "we are delighted with the lab results of Hole 7. As demonstrated in previous test work, oxidized material delivered excellent recoveries of gold and silver, using CIL technology. In addition, flotation of the high-grade sulfide material also returned with excellent results showing high recoveries and low levels of penalty elements".

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.