Mr. Ernest Mast reports

PPX MINING PROVIDES EXPLORATION PLAN FOR 2026

PPX Mining Corp. has provide an exploration update on its Igor project located in La Libertad region, Peru. During 2026 the company plans to drill 9,500 metres at the Callanquitas mine and drill at the Portachuelos project targeting high-grade extensions of previously identified zones. This is one of the most important drilling campaigns in the company's history. The sulphide exploration will be financed by Glencore's investment, see press release dated Dec. 8, 2025, and the oxide exploration will be financed from ongoing free cash flow from the Callanquitas operations.

Callanquitas exploration update

PPX plans to initiate underground exploration drilling at its Callanquitas East mine in June, 2026, with two drills. One drill will target the oxide zone the other will target the sulphide zone. The oxide zone exploration will target stepouts from holes CA-25-23, 2.40 metres of 12.33 grams per tonne Au (gold) and 11.4 g/t Ag (silver), CA-25-19, 1.20 m of 4.83 g/t Au and 4.6 g/t Ag extending the areas close to zones that are currently being mined. To date, only four holes have been drilled in the Callanquitas sulphide zone, which lies south of and beneath the previously mined oxide zones in Callanquitas East. All four of the previous Callanquitas East sulphide drill holes were drilled in 2012 or earlier with grades above cut-off. The holes close to the interface with Callanquitas East were high in silver such as CA-12-55, 4.05 m of 1.70 g/t Au and 1,167 g/t Ag, and CA-12-47, 1.90 m of 1.15 g/t Ag and 625 g/t Ag.

Finally, at the end of the year the company plans on commencing drilling of the tension sulphide vein discovered in 2024 with drill hole CA-24-07, 9.20 m, 10.34 g/t Au, 1671 g/t Ag and 4.0 per cent Cu (copper). The holed from the tension vein will be drilled from a new drill chamber giving improved drill intercepts.

Later in the year the company plans on drilling Callanquitas West following up on hole CA-25-16: 3.2 m of 42.70 g/t Au and 179 g/t Ag. Callanquitas West is open to the north and down dip. No mining has been done at Callanquitas West and upon finishing this seven-hole, 1,400-metre drill program, the company anticipates identifying areas suitable for mining.

During the year the company plants to drill 30 holes for 4,800 metres into sulphide mineralization at Callanquitas East and the Tensional vein, and 20 holes for 4,700 metres into oxides zones at Callanquitas East and West.

Portachuelos exploration update

The company plans to submit its surface exploration permit for Portachuelos via the FTA (Ficha Tecnica Ambiental) process in June, 2026. The target at Portachuelos will be the BX2 structure that was last drilled in 2018. BX2 only has two drill intercepts to date. Both intercepts show high grade mineralization with CA-18-94 of 6.0 m, 5.77 g/t Au. 444, g/t Ag and 0.67 per cent Cu, and CA-18-99 with 11.5 m of 1.92 g/t Au, 114 g/t Ag and 0.50 per cent Cu. The intercepts are separated by approximately 300 metres. Upon the completion of the drill program the company will be in a position to determine an internal resource of the BX2 vein. The Portachuelos drilling will be supported with downhole EM surveys to characterize the response of the different Portachuelos structures to this geophysical method.

BX2 is perpendicular to the Callanquitas system and the intersection of BX2 and Callanquitas will also be tested.

In addition, the company will prestrip areas along the 2.5 km long Portachuelos structure in order to identify prospective drill targets.

Ernest Mast, president and chief executive officer of PPX Mining, commented:

"The record drill program planned for 2026 will target high-grade areas at Callanquitas and Portachuelos and aim to expand the company's high-grade resources at Callanquitas and establish internal resources at Portachuelos. Previously the Igor project had a maximum of two drills operating and with four drills turning this year (two on underground mine and two on Portachuelos), PPX will establish its most prolific drilling season to date. Upon finishing the program, the company plans to identify additional high-grade oxide and sulphide zones."

Warren Pratt, PGeo, independent adviser to the company, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release on behalf of the company.

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