PPX Mining Closes Acquisition of Surface Rights at Its Igor Project
NEWS RELEASE TSX.V PPX; BVL PPX
PPX MINING CLOSES ACQUISITION OF SURFACE RIGHTS AT ITS IGOR
PROJECT
Toronto – March 15, 2023 – PPX Mining Corp. (the “ Company ” or “ PPX ”) is pleased to announce the
closing of a key block of surface rights totalizing approximately 399 hectares that covers the principal area
of its Igor Project, including the Callanquitas Mine and its south extension, as well as the area in which the
Company plans to build a gold and silver processing plant to feed the high grade ore currently mined by its
operator, Proyectos La Patagonia S.A.C . and processed by third parties. The acquired land contains the
principal mineralized areas of the Igor Project, in particular, the Domo target.
The total surface rights area was acquired by a Per uvian subsidiary of PPX through four different
acquisitions that began on February 13, 2012. The initial acquisition involved the purchase of
approximately 319 hectares, followed by three additional acquisitions of approximately 20 hectares in 2014,
50 hectares in 2016 and 10 hectares in 2018.
Due to multiple challenges over the years, the clos ing of the first transaction remained outstanding. On
April 13, 2015, the Company announced certain progress on the transaction, but not until February 16, 2023,
the transaction was concluded. The end of this lon g process involved a final payment of PEN 420,000
(approximately CAD$ 151,625). Further to this payment, the Company is in the process of discharging an
existing mortgage and finalizing the title inscript ion in the Public Registration Office of Otuzco, La
Libertad, Peru.
The total amount paid over the years by the Company for the totality of surface right was PEN 4,315,49 9
or approximately CAD$ 1,557,942 at today’s exchange rate.
John Thomas, Chief Executive Officer comments, “the completion of this acquisition adds material value
to PPX by de-risking the Igor Project. It also prov ides flexibility to arrange the funding of our corp orate
objectives by allowing the possibility to source further secure debt financing, in addition to equity” .
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 flagship 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, 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 risks, future plans and future financing. Forward-looking statements are
statements that relate to future events. In this co ntext, forward-looking statements often address exp ected
future business and financial performance and often contain words such as “anticipate,” “believe,” “pl an,”
“estimate,” “expect,” and “intend,”, statements tha t an action or event “may,” “might,” “could,” “shou ld,”
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 or inability to execute/obtain the necessary financing for its plans. Although th e
Company believes that the expectations reflected in the forward-looking statements are reasonable, the
Company cannot guarantee that the events and circum stances 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.