PPX Announces New Chief Financial Officer

VANCOUVER, BC / ACCESSWIRE / July 18, 2022 / PPX Mining Corp. (there “Company” Where “PPX“) is pleased to announce the appointment of Mr. Pompeyo Gallardo as Chief Financial Officer, effective immediately. Mr. Gallardo has over 27 years of experience in corporate finance, with particular strengths in budgeting and controlling, project structuring, financial modeling and analysis He is a former senior director of credit risk at Scotiabank, a former financial analyst at CIBC, a former chief financial officer at Chieftain Metals and Red Cloud Klondike Strike (now Red Cloud Securities) Mr. Gallardo holds a bachelor’s degree in economics from the Universidad del Pacífico with graduate studies in finance and control at Harvard University and a risk and compliance certification from the International Association of Risk and Compliance Professionals.

Brian J. Maher, President and CEO of PPX Mining Corp., commented, “The company is pleased to add Pompeyo to our leadership team. His vast experience will help guide PPX through our planned transition to a fully integrated mining company. I want to express our deepest thanks to Natasha Tsai for all of her work with PPX over the past few years and wish her all the best for the future.”

About PPX Mining Corp:

PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, BVL: PPX) is a Canada-based mining company with assets in northern Peru. Igor, the company’s 100%-owned flagship gold and silver project, is located in Peru’s prolific gold belt in eastern La Libertad department. PPX operates the Callanquitas mine (“Mina Callanquitas”) which mines underground mineable high-grade oxidized gold and silver ore. Based on the Company’s Pre-Feasibility Study (“PFS”), PPX expects the Callanquitas mine to produce up to 26,000 ounces AuEq* per year over a seven-year mine life at a cost disbursed less than 610 USD/ounce AuEq* (the Igor PFS is available on the Company’s website and on SEDAR). Higher metal prices and mine productivity, combined with superior toll milling contracts, all contributed to the increase in revenue from operations at Mina Callanquitas. It should be noted that the decision to commence mining operations at Mina Callanquitas is based solely on the PFS referenced above, and not on a feasibility study. As such, there is increased uncertainty about the specific economic outcome of the project and a similar increase in the technical risk of failure associated with a production decision based solely on PFS.

*AuEq is calculated as follows: ounces AuEq = ounces Au + ounces Ag/75. By PFS, including metallurgical recovery.

Through the second quarter of fiscal 2022, Mina Callanquitas produced over 174,099 tonnes of ore grading 9.65 gpt gold and 97.5 gpt silver, resulting in the production of 53,519 ounces of ore. gold and 500,525 ounces of silver from Mina Callanquitas’ mineral reserves and measured and indicated resources as defined. in Igor’s PSF. The mine is currently producing at a rate of approximately 134 tonnes/day, with the ore processed at nearby toll processing facilities.

All scientific and technical information contained in this press release has been reviewed and approved by Quentin Browne M.Sc., a Certified Professional Geologist and Fellow of the American Institute of Professional Geologists and is a Qualified Person as the term is defined. in NI 43-101. Mr. Browne is an independent consultant to PPX Mining Corp.

On behalf of the Board of Directors

Brian J. Maher
President and CEO


PPX Mining Corp.
Brian J. Maher, President and CEO
Telephone: 1-530-913-4728
E-mail: [email protected]
Website: www.ppxmining.com

Caution :

This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking statements“) as defined by applicable securities laws, including, but not limited to, statements regarding the resumption of trading on the Exchange. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often relate to 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”, “could”, “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 the forward-looking statements due to many diverse factors. These uncertainties and risks include, among others, delays in obtaining or the inability to obtain regulatory approvals in connection with the resumption of trading at the Stock Exchange; risks associated with the mining industry (including operational risks related to exploration, development and production); delays or changes in plans for exploration or development projects or capital expenditures. 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 occur or occur. The timing of events and circumstances and the actual results could differ materially from those projected in the forward-looking statements. Accordingly, undue reliance should not be placed 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 publicly update or revise any forward-looking statements, whether as a result of new information , future events or otherwise, except as required by law.

THE SOURCE: PPX Mining Corp.

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