PPX Mining Provides Update ON Start-up of the Process Plant
NEWS RELEASE
PPX MINING PROVIDES UPDATE ON START-UP OF THE PROCESS
PLANT
Toronto – May 11, 2026 – PPX Mining Corp. (TSX.V PP X; BVL PPX) (the “Company” or
“PPX”) announces the establishment of a working group wit h the Municipality of Huaranchal,
representatives of the local communities, and the Regional Government of La Libertad, following
recent meetings during which certain concerns and misunderstandings were raised by community
members regarding aspects of the Project’s planned operations. The working group is intended to
provide a constructive forum to clarify technical and operational matters, address questions raised
by stakeholders, and support a transparent and coll aborative path forward for the Project. While
this decision will result in a delay in the start-up of the process plant currently under construction,
the Company believes that preserving a constructive partnership with local communities that have
hosted the project operations for more than a decad e is fundamental to the Project’s long-term
success.
The Company’s process plant and ancillary infrastructure have been duly approved by the Regional
Ministry of Mines and were designed in accordance w ith all applicable technical and
environmental standards. The Project incorporates a geotube-based tailings management system,
which eliminates the need for a conventional tailin gs dam and enables the recycling of process
water as part of the operation. These technical aspects are among the matters the Company intends
to further explain and clarify through the working group process in order to provide additional
comfort to the surrounding communities.
The permitting process for the Project was supporte d by an extensive community engagement
program, including public participation forums held in 2018 and 2023 that were attended by
community members and local stakeholders, during wh ich no objections to the Project were
presented. Nevertheless, the Company believes it is important to revisit and refresh these technical
discussions with the communities to ensure that all stakeholders continue to have a clear and
updated understanding of the Project’s design, envi ronmental safeguards, and operating
methodologies.
In the interim, ore from the Callanquitas Mine will continue to be processed at third-party facilities,
consistent with current operations. The Company expects operating performance to remain in line
with recent quarters (see press releases dated February 11, 2026 and May 5, 2026).
No changes to the Company’s 2026 exploration plans are anticipated.
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 rega rding 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 state ments 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.