PPX Operational Results for Mina Callanquitas for January, February 2017; Impacts of Adverse Weather
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NEWS RELEASE TSX.V PPX; BVL PPX
PPX Operational Results for Mina Callanquitas for January, February 2017;
Impacts of Adverse Weather
Vancouver, British Columbia – March 27, 2017 – PPX Mining Corp. (the "Company" or “PPX”) is
pleased to announce that the Company’s mining partner Proyectos La Patagonia S.A.C. (“PLP”) has
provided the company with a report of operations at Mina Callanquitas for the months of January and
February 2017. PLP is developing Mina Callanquitas for the Company as part of a systematic test mining
and bulk sampling program to evaluate the potential commercial development of the Callanquitas gold
and silver resource. Highlights of the January and February operations update include:
• PLP reports that forty-two truckloads containing 771 tonnes of gold mineralized rock were
shipped to the Malin Plant of Silver Cascas S.A.C. (“Silver Cascas”) during the January-February
operating period. The average gold grade of the mineralized material continues to increase
compared to previous months, averaging 8.09 gpt gold during the Ja naury-February operating
period. Gold recoveries from processing the mineralized rock at the Silver Cascas processing
plant ranged from 79.0 to 90.0%, with the last ten truckloads shipped during January (172 tonnes
grading 11.04 gpt gold) averaging 88% gold recovery, the same gold recovery reported in
previously completed metallurgical testing (88%, please see press release dated May 19, 2015).
• Starting in mid-February, intense rainfall began in northern Peru, culminating in dangerous
flooding and landslides that have impacted much of the country. The Company and PLP have
suspended operations at Mina Callanquitas until conditions improve and operations can be
conducted safely. The weather has negatively impacted access to the property and the local
community. When conditions permit, roads we anticipate that the roads will be repaired and a
new road will be built to bypass the community. There has been no damage to Mina Callanquitas
or other mine infrastructure.
Brian J. Maher, President and CEO of PPX Mining commented: “ While the Company is pleased with
operational results of our test mining and bulk sampling program at Mina Callanquitas, everyone at PPX
is saddened by the impacts of the adverse weather on the local community of Callanquitas and northern
Peru. The loss of life, the damage to homes in La Libertad, and the destruction of rural infrastructure is
devastating to the communities effected and all Peruvians”.
The Company also announces that in connection with the Gold Streaming Agreement between the
Company and Rivi Capital LLC, previously announced on October 11, 2016 and October 31, 2016, the
Company issued 3,000,000 warrants to the arm’s length finder Mahalski Partners as part of a finder’s fee.
The warrants expire on October 10, 2018 and are exercisable at a price of C$0.12 per warrant share. The
warrants and underlying warrant shares are subject to a hold period that will expire 4 months and a day
after the issuance of the warrants.
The Company is also pleased to announce the appointment of Natasha Tsai as Interim Chief Financial
Officer of the Company. Ms. Tsai is a Chartered Professional Accountant with Malaspina Consultants
Inc. and has a Bachelor of Commerce degree.
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About PPX Mining Corp.: PPX Mining Corp. (PPX: TSX.V; BVL) is currently exploring and evaluating
mine development opportunities at its Igor Mine Project in Northern Peru. The Igor project explores
several high grade, gold and silver mineralized high-angle structures that host significant gold and silver
resources. The Callanquitas Structure at the Igor Project contains Inferred gold and silver resources of
7,189,000 tonnes grading 1.94 gpt gold and 71.8 gpt silver containing 448,500 ounces of gold and
16,600,000 ounces of silver at a cutoff grade of 1.5 gpt gold equivalent. Included within this resource
estimate is a higher grade zone consisting of 2,730,000 tonnes grading 2.73 gpt gold and 119.1 gpt silver
containing 239,400 ounces of gold and 10,500,000 ounces of silver using a 3.0 gpt gold equivalent cutoff
grade (Please see Technical Report as amended on September 27, 2013 entitled “Technical Report on the
Callanquitas Structure, Igor Mine Project, Northern Peru, South America”, available on the Company’s
web site or SEDAR). Mineral resources are not mineral reserves and do not have demonstrated economic
viability. There is no certainty that all or any part of the mineral resource will be converted into m ineral
reserves. The Company has begun work on its underground test mining and bulk sampling program
which is designed to validate and upgrade the resource estimate, and generate data to evaluate the
possibility of future mine development at Igor. The Company is accelerating its exploration program at
Igor in order to fully evaluate the resource potential of the entire Igor project area.
All scientific and technical information in this press release has been reviewed and approved by Quentin
J. Browne, P.Geo., Independent Consulting Geologist to PPX Mining Corp., who is a qualified person
under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
PPX Mining Corp.
Brian J. Maher, President and Chief Executive Officer
Phone: 1-530-913-4728
Email: [email protected]
Website: www.ppxmining.com
Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain disclosure in this release, may
constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995
and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain
factors and assumptions that the Company believes are reasonable. However, the forward-looking statements in this release are
subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expr essed
or implied in such forward-looking statements. Such uncertainties and risks are detailed from time to time in the Company's
filings with the appropriate securities commissions, and may include, among others, market conditions, and delays in obtaining or
failure to obtain required regulatory approvals or financing. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers a re
cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any
intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events
or otherwise, except as required by law.