PPX Mining Delivers Another Record-Breaking Month IN 2025
NEWS RELEASE
PPX MINING DELIVERS ANOTHER RECORD-BREAKING MONTH IN 2025
Toronto – December 1, 2025 – PPX Mining Corp. (TSX.V: PPX; BVL: PPX) (“PPX” or the
“Company”, including its Peruvian subsidiaries) is pleased to report that October 2025 delivered
the Company’s strongest monthly operational results of the year and the past 12 months, surpassing
the previous record achieved in September 2025 at its Callanquitas Mine, operated by its mining
partner, Proyectos La Patagonia SAC.
In October 2025, the Callanquitas operation generated gross revenues of PEN 17.4 million (CAD$
7.2 million)(1) and delivered a gross profit of PEN 11.5 million (CAD$ 4.8 million)(1), representing
a gross margin of approximately 66%. The operation also achieved pre -tax income of PEN 7.6
million (CAD$ 3.1 million) (1), setting a new Company record. As a result, PPX, through its
Peruvian subsidiary, earned a NPI of PEN 5.7 million (CAD$ 2.4 million) (1), marking the highest
monthly NPI achieved to date.
Cumulative NPI earned by PPX for the 2025 calendar year through October now totals PEN 22.1
million (CAD$ 9.2 million)(1), already exceeding the total earned during the same period in the
prior year. This strong performance reflects the growing cash -generating capacity of the
Company’s flagship Igor Project.
On the development front, PPX continues advancing construction of its CIL and flotation plant,
with multiple key components now in final installation stages. Once operational, the plant is
expected to significantly reduce mining, transportation, and processing costs, while enabling
higher throughput, improved metallurgical recoveries, and enhanced operational efficiency. This
strategic infrastructure investment is central to unlocking the next phase of growth at the Igor
Project, strengthening cash flow gen eration, and supporting PPX’s long -term production
expansion plans.
John Thomas, Chief Executive Officer , commented: “October’s performance underscores the
accelerating strength of our Callanquitas operation and the discipline of our team and alliances on
the ground. Delivering back -to-back record months —culminating in the strongest results of the
past year—demonstrates the robust and resilient nature of the Igor Project. PPX is entering a new
stage of growth, supported by rising cash flow, expanding in frastructure, and the continued
commitment to responsible operations and long-term value creation for our shareholders.”
(1) Foreign Exchange: 1 CAD$ = 2.41 PEN
On behalf of the Board of Directors
John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
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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 information and forward -looking statements
(collectively, “forward-looking statements”) as such terms are defined by applicable securities
laws, including, but not limited to statements regarding test results, future plans or management
estimates. 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,” “plan,” “estimate,” “expect,” and “intend,”,
statements that an action or event “may,” “might,” “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 forward -looking statements due to many various factors. Such uncertainties and
risks include, among others, delays in obtaining or inability to obta in required regulatory
approvals in connection with this transaction. 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 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.