Appointment of Brian Imrie as Executive Chairman, Appointment of Fernando Pickmann as Director and the Grant of Stock Options

VANCOUVER, BC / ACCESSWIRE / September 29, 2022 / PPX Mining Corp. (the "Company" or "PPX") announces the appointment of Mr. Brian Imrie as Executive Chairman of PPX from his current position of Chairman, effective immediately. As part of the Company's growth plans, Mr. Imrie will assume a more active role in PPX's management decisions, assisting the Company with the execution of short and long-term goals. The Board of directors of PPX welcomes Mr. Imrie's decision to accept this responsibility.

PPX also announces the appointment of Mr. Fernando Pickmann Dianderas as director of PPX, effective immediately. Mr. Pickmann is a partner at Dentons Gallo Barrios Pickmann in Peru, director of several mining companies, professor at Universidad de Lima and holds a Master in Law from IE Madrid, Spain.

Brian Imrie, Executive Chairman commented: "We are delighted that Fernando Pickmann is joining the PPX Board. Fernando brings many years of extensive experience in Peruvian corporate law, key local relationships that will facilitate the execution of the Company's plans and a solid knowledge of the Peruvian mining industry. We welcome Fernando's addition to our Board of directors.

Option Grant

The Board of directors of PPX has granted to directors and officers 15 million options to purchase the same number of common shares in the capital of the Company. Each option is exercisable into one common share at C$0.04 per share for a period of seven years from the date of grant. The options vest immediately and are granted in accordance with the Company's Stock Option Plan.

About PPX Mining Corp:

PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, 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 Northern Peru gold belt in eastern La Libertad Department. PPX is operating the Callanquitas Mine ("Mina Callanquitas") exploiting high grade, underground-minable oxidized gold and silver ore. Based on the Company's Pre-Feasibility Study ("PFS"), PPX expects the Callanquitas Mine to produce up to 26,000 AuEq* ounces per year over a seven-year mine life at cash cost of less than US$610/AuEq* ounce (the Igor PFS is available on the Company's website and SEDAR). Increasing metal prices and mine productivity, coupled with superior toll milling contracts, have all contributed to the increasing revenue derived from operations at Mina Callanquitas. It should be noted that the decision to commence mining operations at Mina Callanquitas is based solely on the PFS referenced above, not a feasibility study. As such, there is an increased uncertainty as to the specific economic outcome of the project and a similar increase in the technical risk of failure associated with a production decision based solely on the PFS.