PPX Closes Third Tranche of Construction Facility and Provides Construction Update
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX CLOSES THIRD TRANCHE OF CONSTRUCTION FACILITY AND
PROVIDES CONSTRUCTION UPDATE
Toronto – June 04, 2025 – PPX Mining Corp. (the “ Company ” or “ PPX ”, including its Peruvian
subsidiaries) is pleased to announce that yesterday it closed the third tranche of the construction fa cility
provided by its major shareholder, receiving US$1,800,000.
The creditor of the Loan is a control person of the Company. Accordingly, the Loan constitutes a relat ed
party transaction pursuant to Multilateral Instrume nt 61-101 – Protection of Minority Security Holders in
Special Transactions (“ MI 61-101 ”). The Company is exempt from the requirement to o btain minority
shareholder approval in connection with the Loan in reliance on the exemption contained in section 5.7(1)(f)
of MI 61-101, as the Company has determined that the Loan contains reasonable commercial terms that are
not less advantageous to the Company than if the Lo an was obtained from an arm’s length party, and the
Loan is not convertible or repayable as to principa l or interest, directly or indirectly, in equity or voting
securities of the Company or its subsidiaries. The formal valuation requirements are not applicable to the
Loan pursuant to section 5.4(1) of MI 61-101. The board of directors of the Company approved the Loan and
no materially contrary view or abstention was expressed or made by any director of the Company in relation
thereto.
Construction Update
The Company is also pleased to inform that major eq uipment ordered to Xinhai Mineral Processing PLC
arrived this week to the Port of Callao. This inclu des all crushing units (jaw and cone crusher, vibra ting
screen and conveyors), two complete ball mills with liners and motors, six flotation cells, three thic keners
and a filter press for flotation concentrate, as well as various pumps and other small components.
Customs clearance is expected to be completed in the coming days. Following inspection, the majority of the
equipment will be transported to the construction s ite, with select components undergoing precision
measurement in Lima to facilitate local manufacturing of maintenance parts.
Following the end of the raining season, the EPC co ntractor is currently focused on civil works to soo n
received the equipment on site.
As previously disclosed, PPX is constructing a 350 tonnes-per-day (tpd) Carbon-in-Leach (CIL) and flotation
plant at the Igor Project. The plant is designed to process gold and silver-bearing ore from the Calla nquitas
Mine. Construction is being carried out by a third- party contractor and remains on schedule for comple tion
by December 2025.
Pictures of construction activities, equipment and a 3D video of the plant can be seen at the followin g link:
https://ppxmining.com/on-the-hill_/plant-construction/
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: 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 Nort hern
Peru gold belt in eastern La Libertad Department.
On behalf of the Board of Directors
John Thomas, CEO
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts respo nsibility 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 securities laws, including, but not
limited to statements regarding future plans on the Igor Project , statements regarding the terms and
completion of the remaining tranches of the Loan an d entering into an agreement regarding plant
construction . Forward-looking statements are statements that rela te to future events. In this context,
forward-looking statements often address expected f uture business plans and financial performance and
often contain words such as “anticipate,” “believe, ” “plan,” “estimate,” “expect,” and “intend,”, stat ements
that an action or event “may,” “might,” “could,” “s hould,” “would” or “will” be taken or occur, or oth er
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 materiall y from those stated or implied in forward-looking
statements due to many various factors. Such uncert ainties and risks include, among others, delays in
obtaining or inability to obtain required regulatory approvals; actual development plans and costs differing
materially from the Company’s estimates; and compliance with complex regulations associated with mining
activities. Although the Company believes that the expectations reflected in the forward-looking statements
are reasonable, the Company cannot guarantee that t he events and circumstances reflected in the forward-
looking statements will be achieved or occur. The t iming of events and circumstances and actual result s
could differ materially from those projected in the forward-looking statements. Accordingly, one shoul d
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.