PPX Subscribes US$ 2.5 Million Silver Royalty LOI
NEWS RELEASE; TSX.V PPX; BVL PPX
PPX SUBSCRIBES US$ 2.5 MILLION SILVER ROYALTY LOI
Toronto – March 12, 2024 – PPX Mining Corp. (the “ Company ” or “ PPX ”) is pleased to announce that
today, it has subscribed a letter of intent (“LOI”) with Silver Crown Royalties Inc. (“SCR”) for a sil ver
royalty to complete project financing for the 350 t pd CIL and flotation plant that the Company intends to
build. The plant will process oxide and sulfide ore , currently mined from its high-grade Callanquitas Mine
(Igor Project), located in La Libertad, Peru. One of the Company’s subsidiaries is in the final stage to receive
its permit to start construction.
The key terms of this financing are as follows:
• US$ 2.5 million funding payable in cash for a 15% silver royalty at the Igor 4 mining concession.
• The royalty expires upon the delivery of 250,000 ou nces of silver or five years from closing,
whichever occurs later.
• Starting June 1, 2025, an annual minimum of 50,000 ounces of silver applies.
• The Company has the option, at its sole discretion, to increase the minimum annual silver ounces
delivered to 100,000, increasing the termination cap from 250,000 to 500,000 silver ounces against
additional US$ 2.5 million, payable in shares of SCR at C$0.50 per common share or 5-day trailing
VWAP of the common share, whichever is greater.
• The transaction is subject to due diligence. At commercially reasonable efforts, both parties expect
to conclude due diligence by March 31, finalize definitive agreement by May 15 and close by June
30, 2024.
Brian Imrie, Executive Chairman commented “we are d elighted to subscribe this LOI with SCR for a silver
royalty transaction. This funding, together with th e US$6M facility that the Company had already secur ed,
completes the financing for its processing plant, allowing PPX to start unlocking material value from its Igor
Project and setting the basis for a solid growth path.”
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) 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 Nort hern
Peru gold belt in eastern La Libertad Department.
About Silver Crown Royalties Inc:
Founded by industry veterans, SCR is a pre-IPO stag e revenue-generating silver-only royalty company
focused on silver as by-product credits. SCR aims to minimize the economic impact on mining projects while
maximizing returns for shareholders. SCR presently has two sources of revenues and continues to build on
this foundation, targeting additional operational silver-producing projects.
On behalf of the Board of Directors
Brian Imrie
Executive Chairman
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 future financing and plans and / 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,” or “will” be tak en 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 resul ts
could differ materially from those stated or implie d in forward-looking statements due to many various
factors. Such uncertainties and risks include, amon g others, delays in obtaining or inability to obtai n any
required regulatory approvals, if applicable. Although the Company believes that the expectations reflected
in the forward-looking statements are reasonable, t he 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 m aterially from those projected in the forward-looki ng
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 forw ard-looking statements, whether as a result of new
information, future events or otherwise, unless required by law.