Debt Settlement Transaction

PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com

NEWS RELEASE TSX.V PPX; BVL PPX

Debt Settlement Transaction

Toronto, Ontario – May 3, 2024 – PPX Mining Corp. (the “ Company ” or “ PPX ”) announces that it

has entered into debt settlement agreement with an arm’s length creditor of the Company (the

“ Creditor ”) to settle C$20,000 of outstanding debt (the “ Debt Settlement ”) through the issuance of

400,000 units of the Company (each a “ Unit ”). Each Unit has a deemed issue price of C$0.05 pe r Unit

pursuant to the Debt Settlement. Each Unit will be comprised of one common share of the Company and

one common share purchase warrant (a “ Warrant ”). Each Warrant will be exercisable to purchase a n

additional common share of the Company (a “ Warrant Share ”) at an exercise price of C$0.07 per

Warrant Share for a period of two years from the closing date of the Debt Settlement transaction.

The Debt Settlement is subject to the approval of t he TSX Venture Exchange (the “ Exchange ”) and

execution of definitive debt settlement agreements. All securities to be issued to the Creditor will b e

subject to a hold period expiring on the date that is four months and one day after the date of issuan ce,

in accordance with applicable securities laws and the policies of the Exchange.

About PPX Mining Corp:

PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) is a Cana dian-based mining company with assets in

northern Peru. Igor, the Company’s 100%-owned flags hip gold and silver project, is located in the

prolific Northern Peru gold belt in eastern La Libertad Department.

On behalf of the Board of Directors

Brian Imrie

Executive Chairman

82 Richmond Street East, Toronto,

M5C 1P1, Ontario, 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 informa tion and forward-looking statements (collectively,

“ forward-looking statements ”) as such terms are defined by applicable securiti es laws, including, but

not limited to statements regarding the completion of the Debt Settlement, the anticipated effect on t he

securities of the Company held by the creditors, shareholder approval and regulatory approval of the

Debt Settlement. 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,” “pla n,” “estimate,” “expect,” and “intend,”, statements

that an action or event “may,” “might,” “could,” “s hould,” or “will” be taken or occur, or other simil ar

expressions. Forward-looking statements are subject to a number of known and unknown risks and

uncertainties, many of which involve factors or cir cumstances 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 uncert ainties and risks include, among others, delays in

PPX MINING CORP | 82 Richmond Street East, M5C 1P1, Toronto, Ontario, Canada | +1416-361-0737 | www.ppxmining.com

obtaining or inability to obtain required regulator y and shareholder approvals in connection with the

Debt Settlement. 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 p rojected 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.