PPX Mining Announces Closing of Oversubscribed Private Placement

NEWS RELEASE; TSX.V PPX; BVL PPX

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

PPX MINING ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE

PLACEMENT

Toronto – May 5, 2025 – PPX Mining Corp. (“ PPX ” or the “ Company ”) is pleased to announce that it has

closed its non-brokered private placement previousl y announced on March 20, 2025 on an oversubscribed

basis for aggregate gross proceeds of $802,303 (the “ Offering ”).

The Offering involved the issue of 17,828,945 units (the “ Units ”) at a price of $0.045 per Unit for gross

proceeds to the Company of $802,303. Each Unit cons isted of one common share of the Company and one

common share purchase warrant, with each warrant entitling the holder to acquire one common share of the

Company at an exercise price of $0.07 until May 5, 2027. The Company intends to use the proceeds from

the Offering to finance further exploration at Mina Callanquitas and for working capital.

In connection with the Offering, the Company issued an aggregate of 572,096 units (the “ Finder’s Units ”)

to arm’s length finders of the Company in considera tion for the finders locating purchasers to participate in

the Offering. Each Finder’s Unit consisted of one c ommon share of the Company and one non-transferable

common share purchase warrant, with each warrant entitling the holder to acquire one common share of the

Company at an exercise price of $0.07 until May 5, 2027. No cash payments were paid to the finders.

The securities issued under the Offering are subjec t to a four-month hold period expiring on September 6,

2025 under applicable Canadian securities laws and the policies of the TSX Venture Exchange (the “ TSXV ”).

The Offering is subject to the final approval of the TSXV.

Brian Imrie, Executive Chairman and director of the Company, JAT Metconsult Ltd., a company controlled

by John Thomas the Interim Chief Executive Officer and director of the Company, and Real Green Corp., a

company controlled by Pompeyo Gallardo the Chief Fi nancial Officer and Corporate Secretary of the

Company, participated in the Offering by subscribin g for 555,556 Units, 2,222,222 Units and 2,222,222

Units, respectively, which constituted a related party transaction pursuant to Multilateral Instrument 61-101

– Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”). There has not been a

material change in the percentage of the outstanding securities of the Company that are owned by Mr. Imrie,

Dr. Thomas or Mr. Gallardo as a result of their par ticipation in the Offering. The Company is exempt f rom

the requirements to obtain a formal valuation and m inority shareholder approval in connection with the

participation of the insiders in the Offering in re liance on the exemptions contained in sections 5.5( a) and

5.7(1)(a) of MI 61-101, respectively, as the fair m arket value of the insider participation does not e xceed

25% of the Company’s market capitalization as deter mined in accordance with MI 61-101. The Company

obtained approval by the board of directors of the Company to the Offering, with Mr. Imrie and Dr. Thomas

declaring and abstaining from voting on the resolut ions approving the Offering with respect to their

participation in the Offering. No materially contra ry view or abstention was expressed or made by any

director of the Company in relation thereto. The Company did not file a material change report less than 21

days before the expected closing date of the Offering as the insider participation was not settled until shortly

prior to closing and the Company wished to close on an expedited basis for sound business reasons.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities

in the United States. The securities have not been and will not be registered under the United States Securities

Act of 1933, as amended (the “ U.S. Securities Act ”) or any state securities laws and may not be offe red or

sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable

state securities laws or an exemption from such registration is available.

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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 of the Company:

Brian Imrie

Executive Chaiman

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 the use of proceeds for the Offering and the final approval of the TSX V.

Forward-looking statements are statements that rela te to future events. In this context, forward-looki ng

statements often address expected future business and financial performance and often contain words such

as “anticipate,” “believe,” “plan,” “estimate,” “ex pect,” and “intend,”, statements that an action or event

“may,” “might,” “could,” “should,” or “will” be tak en 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 resul ts

could differ materially from those stated or implie d in forward-looking statements due to many various

factors. Such uncertainties and risks include, amon g others, delays in obtaining or inability to obtai n

required regulatory approvals and or funding, as ap plicable; the state of the equity financing markets in

Canada and other jurisdictions; volatility and sensitivity to market prices; volatility and sensitivity to capital

market fluctuations; and fluctuations in metal prices. Although the Company believes that the expectations

reflected in the forward-looking statements are rea sonable, the Company cannot guarantee that the even ts

and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of

events and circumstances and actual results could d iffer materially from those projected in the forwar d-

looking statements. Accordingly, one should not pla ce undue reliance on forward-looking statements. Al l

forward-looking statements contained in this press release are made as of today’s date, and the Compan y

undertakes no obligation to update or publicly revi se any forward-looking statements, whether as a res ult

of new information, future events or otherwise, unless required by law.