Mr. Ernest Mast reports

PPX MINING ANNOUNCES DEBT SETTLEMENT

PPX Mining Corp. has entered into a debt settlement agreement with an arm's-length party to fully settle outstanding debt owed by the company to the creditor in the amount of $860,093.57 (U.S.) ($1,208,775.50 (Canadian)) for royalty payments, by the company issuing 6,533,921 common shares of the company to creditor at a deemed price of 18.5 Canadian cents per common share. The debt settlement is subject to the approval of the TSX Venture Exchange. The shares to be issued to the creditor will be subject to a hold period expiring on the date that is four months and one day after the date of issuance, in accordance with applicable securities laws.

About PPX Mining Corp.

PPX Mining is a Canadian-based mining company with assets in northern Peru. Igor, the company's 100-per-cent-owned flagship gold and silver project, is located in the prolific northern Peru gold belt in eastern La Libertad department.

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