PPX Mining Provides Operational and Corporate Update
NEWS RELEASE
PPX MINING PROVIDES OPERATIONAL AND CORPORATE UPDATE
Toronto – February 11, 2026 – PPX Mining Corp. (TSX.V PPX; BVL PPX) (the “Company”
or “PPX”) is pleased to provide an operational and corporate update highlighting successive record
monthly net profit interest (“NPI”) results in Nove mber and December 2025 at its Callanquitas
Mine, as well as a leadership transition at the Board level.
Operational Update
Following the previously reported record performance in October 2025, PPX continued to deliver
strong operational results at the Callanquitas Mine , operated by its mining partner, Proyectos La
Patagonia SAC. In November 2025, PPX earned NPI of PEN 7.2 million (CAD$ 2.9 (1) million),
exceeding the October monthly record. Performance i mproved further in December 2025, with
PPX earning NPI of PEN 8.7 million (CAD$ 3.5 (1) million), representing the highest monthly NPI
achieved by the Company to date.
As a result of this sustained operational strength, total NPI earned by PPX during the 2025 calendar
year amounted to PEN 38.1 million (CAD$ 15.3 (1) million), marking a record annual result and
underscoring the strong cash-generating capacity of the Company’s flagship Igor Project.
For the full 2025 calendar year, the Callanquitas operation generated total revenues of PEN 129.5
million (CAD$ 52.4 (1) million), with a gross profit of PEN 66.8 million (CAD$ 26.9 (1) million).
Pre-tax earnings for the year totaled PEN 62.2 million (CAD$ 25.1 (1) million), reflecting consistent
operational execution and favorable mining conditions throughout the year.
Ernest Mast, President and CEO of PPX Mining Corp., commented:
“The record NPI results achieved in November and De cember, following an already strong
October, demonstrate the strength and scalability o f the Igor Project and the consistency of our
operating partner at Callanquitas. Delivering CAD$ 15 million in NPI during 2025 is a significant
milestone for PPX and validates our strategy of building a high-margin, cash-generating operation.
With strong operating momentum, continued progress on our processing plant, and high-grade drill
targets, we are entering 2026 in a very solid financial and operational position.”
On the development front, PPX continues advancing c onstruction of its carbon-in-leach (“CIL”)
and flotation processing plant, with several key components now in final installation stages. Once
commissioned, the plant is expected to materially r educe mining, transportation, and processing
costs, while enabling higher throughput, improved m etallurgical recoveries, and enhanced
operational efficiency, supporting the next phase of growth at the Igor Project.
Corporate Update
The Company also announces that Brian Imrie will step down from his executive role as Executive
Chairman and will continue as Chairman of the Board of PPX Mining Corp., effective
immediately. This transition reflects the Company’s evolution into a cash-generating producer and
aligns with best practices in corporate governance.
Mr. Imrie has played a pivotal role in guiding PPX through a period of significant transformation,
including strengthening the Company’s balance sheet , advancing construction of key
infrastructure, and positioning PPX for sustained operational and financial growth. The Board of
Directors thanks Mr. Imrie for his leadership and ongoing commitment to PPX as Chairman.
(1) Exchage rate 1 CAD = 2.48 PEN
On behalf of the Board of Directors
Ernest Mast
President and Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
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) accept s 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 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 man y various factors. Such uncertainties and
risks include, among others, delays in obtaining or inability to obtain required regulatory
approvals in connection with this transaction. Alth ough the Company believes that the
expectations reflected in the forward-looking state ments are reasonable, the Company cannot
guarantee that the events and circumstances reflect ed in the forward-looking statements will be
achieved or occur. The timing of events and circums tances and actual results could differ
materially from those projected in the forward-look ing 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.