PPX Signs Definitive Agreement with Silver Crown Royalties
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX SIGNS DEFINITIVE AGREEMENT WITH SILVER CROWN
ROYALTIES
Toronto – December 16, 2024 – PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) (the “ Company ” or
“ PPX ”) is pleased to announce the signing of a definiti ve silver royalty agreement (the “Agreement”) with
Silver Crown Royalties Inc. (CBOE:SCRI; OTCQX:SLCRF; FRA:QS0) (“SCRi”) last Friday December 13,
2024.
The Agreement contemplates the sale of a royalty (t he “Royalty”) for up to 15% of the cash equivalent of
silver produced from PPX’s Mina Callanquitas at its Igor 4 mining concession, located in La Libertad, Peru
(the “Project”), less customary deductions, for agg regate proceeds of US$ 2,470,000.
The first tranche of US$ 1,000,000 is to be paid on closing (“Closing”), which is expected to occur in early
2025, with the second tranche of US$1,470,000 (the “Second Tranche”) to be paid within six months of
Closing. Upon Closing, SCRi will be granted a Royalty for 6% of the cash equivalent of silver produced from
the Project, which will automatically be increased to 15% upon completion of the Second Tranche. If th e
Second Tranche is not completed within 6 months of Closing, PPX will have the right to repurchase the royalty
for US$ 1,000,000, less any Royalty payments made to date. The Royalty will be payable immediately, based
on current operations at the Project and will provide for minimum deliveries of the cash equivalent of 14,062.5
ounces of silver per quarter up to a total of 225,000 ounces. Minimum deliveries will be applicable the earlier
of: a) October 1, 2025; and b) the startup of metallurgical operations at the beneficiation plant, currently under
construction. Upon the delivery of the cash equivalent of 225,000 ounces of silver to SCRi, the silver royalty
will automatically terminate.
John Thomas, CEO commented, “We welcome SCRi’s fund ing. It will support construction activities at site,
as well as other working capital requirements durin g this critical and transformational period for the
Company.”
About Silver Crown Royalties Inc.
Founded by industry veterans, SCRi is a publicly tr aded, silver royalty company. SCRi currently has fo ur
silver royalties of which three are revenue-generat ing. Its business model presents investors with pre cious
metals exposure allowing for a natural hedge agains t currency devaluation while minimizing the negativ e
impact of cost inflation associated with production . SCRi endeavors to minimize the economic impact on
mining projects while maximizing returns for shareholders.
About PPX Mining Corp:
PPX Mining Corp. is a Canadian-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
John Thomas
Chief Executive Officer
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 test results, futur e plans or management estimates. Forward-looking
statements are statements that relate to future eve nts. In this context, forward-looking statements of ten
address expected future business plans and financia l performance and often contain words such as
“anticipate,” “believe,” “plan,” “estimate,” “expec t,” and “intend,”, statements that an action or eve nt
“may,” “might,” “could,” “should,” “would” 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 o r implied in forward-looking statements due to many
various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain
any required regulatory approvals, if applicable. A lthough the Company believes that the expectations
reflected in the forward-looking statements are rea sonable, the Company cannot guarantee that the even ts
and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of
events and circumstances and actual results could d iffer materially from those projected in the forwar d-
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 Compan y
undertakes no obligation to update or publicly revi se any forward-looking statements, whether as a res ult
of new information, future events or otherwise, unless required by law.