PPX Mining hits second consecutive monthly profit record at Callanquitas
TORONTO, ON / ACCESS Newswire / July 6, 2026 / PPX Mining Corp. (TSX Venture:PPX)(BVL:PPX) ("PPX" or the "Company") is pleased to announce another positive month of operating and financial performance from its Callanquitas Mine at the Igor Project in northern Peru, establishing a new all-time monthly record in Net Profit Interest ("NPI") for the second consecutive month.
During May 2026, the Company generated Net Profit Interest of PEN 14.67 million, surpassing the previous historical record of PEN 12.59 million established in April 2026. The May result represents an increase of approximately 16.5% over the previous monthly record.
These results increased cumulative NPI for the 2026 calendar year to PEN 50.56 million, while trailing twelve-month NPI reached a record PEN 91.41 million, the highest level in PPX Mining's history. Significantly, the NPI generated during the first five months of 2026 has already surpassed the PEN 47.69 million earned during the entire 2025 calendar year, highlighting the Company's exceptional operational performance. This achievement reflects the benefits of consistently higher gold grades, strong production results and the successful execution of the Company's mining plan. NPI figures were less for February and March due to lower ore processed as a result of the restricted ore shipments due to the rainy season.
Operating Highlights
Record monthly Net Profit Interest: PEN 14.67 million (May 2026)
Previous monthly record: PEN 12.59 million (April 2026)
Calendar Year 2026 NPI: PEN 50.56 million
Trailing Twelve-Month NPI: PEN 91.41 million (highest in Company history)
The operating performance was primarily driven by continued mining of high-grade mineralization from the underground Callanquitas East vein, where average gold grades remained near 8.72 grams per tonne. Strong metal prices, stable third-party plant performance, and disciplined cost management also contributed to the record financial results.
Ernest Mast, President and Chief Executive Officer commented: "Delivering record Net Profit Interest in April was an outstanding achievement. Surpassing that record again in May demonstrates the consistency and strength of our operation and the exceptional quality of the Callanquitas deposit. As we will shortly be commencing the company's largest exploration campaign ever, we anticipate continuing to identify high grade areas.
Although construction of the new plant has experienced certain delays as we continue working constructively with local stakeholders and government authorities, our current mining and processing operations continue at full speed and are performing better than at any time in the Company's history.
The record cash generation we are reporting today provides further validation of our operating strategy and strengthens our confidence in the future of the Igor Project. Once the new processing plant is commissioned, we believe PPX will be well positioned to increase production, improve operating flexibility, and create additional value for our shareholders".
Building on Operational Momentum
The Company believes the current results demonstrate the significant earning power of the Igor Project under its existing operating configuration. The combination of consistently high-grade ore, disciplined mining practices and third-party processing has resulted in consecutive monthly records in profitability and the strongest trailing twelve-month financial performance in PPX's history.
Management remains focused on maintaining safe, efficient operations while advancing completion of the new processing plant, which is expected to provide increased processing capacity, greater operational flexibility, and an enhanced platform for future production growth.
Net Profit Interest Trend
Period | NPI (PEN million) | Change vs Previous Month |
March 2026 | 7.44 | + 8.3% |
April 2026 | 12.59 | + 69.2% |
May 2026 | 14.67 | + 16.5% |
All technical information in this press release has been reviewed and approved by John Thomas, P. Eng., who is the Chief Operating Officer of the Company and a qualified person under the definitions established by National Instrument 43-101.
About PPX Mining Corp.
PPX Mining Corp. is a Canadian mineral exploration and mining company focused on the exploration, development, and production of precious metal assets in northern Peru. The Company's flagship Igor Project includes the producing Callanquitas underground mine and a new processing plant currently under construction.
On behalf of the Board of Directors
Ernest Mast
President and Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement:
This press release contains forward-looking information 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, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," 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 or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory approvals in connection with this transaction. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the 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 materially from those projected in the forward-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 Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
SOURCE: PPX Mining Corp.
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