PPX receives approval for 10,315 m drill program at Igor Portachuelos

PPX Receives Environmental Approval for 10,315 metre Drill Program at Portachuelos, Igor Project

TORONTO, ON / ACCESS Newswire / August 18, 2026 / PPX Mining Corp. (TSXV:PPX)(BVL:PPX) (the "Company" or "PPX") is pleased to announce that it has successfully obtained the environmental approval required to conduct exploration in the Portachuelos area of the Igor concession. This marks an important milestone toward advancing the Company's objectives. The planned program is designed to improve the Company's understanding of mineralization previously identified through historical drilling. Notably, drill hole CA-18-94, completed in 2018 on the Bx2 structure, returned 6.0 metres of sulfide mineralization grading 5.77 g/t Au, 443.8 g/t Ag and 0.67% Cu, including a higher-grade interval of 1.0 metre grading 9.87 g/t Au, 904.0 g/t Ag and 1.08% Cu.

The environmental instrument obtained is the Environmental Technical Sheet for the Igor Exploration Project (Ficha Técnica Ambiental - FTA), approved on August 11, 2026, pursuant to Directorial Resolution No. 0648-2026-MINEM/DGAAM, issued by Peru's Ministry of Energy and Mines. The FTA authorizes a total of 10,315 metres of diamond drilling across 58 drill holes, to be completed over a maximum period of 20 months. This is the first surface drill program permit obtained by the company since the permit from 2014 expired in October 2019.

The Company is currently processing the Authorization to Commence Activities, and intends drilling by the end of September. In parallel, the Company has initiated a tender to select a drilling company.

The Portachuelos campaign is an important step towards advancing the Igor Project. The Company will deploy at least two drill rigs to accelerate the program and complete as much drilling as possible during the 2026 calendar year.

Results from this program are expected to significantly improve the Company's understanding of the geology, geometry and continuity of mineralization in this part of the Igor Project. Portachuelos is distinct from the Callanquitas breccia system, where the Company is currently mining. The accompanying figure shows the location of the Portachuelos target and the planned program.

Ernest Mast, President and CEO commented: "Receiving environmental approval for the Portachuelos exploration program is an important milestone for PPX and represents a significant step forward in unlocking the broader exploration potential of the Igor Project. Historical drilling at Portachuelos has returned compelling gold, silver and copper mineralization, including significant high-grade intervals, and we are excited to systematically follow up on these results. With more than 10,000 metres of drilling planned, this program is designed to significantly improve our understanding of a mineralized system that is distinct from Callanquitas and could ultimately expand the scale and potential of the Igor Project."

All scientific and technical information contained in this press release has been reviewed and approved by Dr. Warren Pratt, CGeo., Technical Advisor of PPX Mining Corp., who is a qualified person as defined within the National Instrument NI-43-101.

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.

On behalf of the Board Members
Ernest Mast
President and CEO
PPX Mining Corp.
82 Richmond Street East Toronto, Ontario M5C 1P1, Canada
Telephone: 416-361-0737
Website: www.ppxmining.com

About PPX Mining Corp:

PPX Mining Corp. (TSXV: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 Northern Peru gold belt in eastern La Libertad Department. PPX is focused on disciplined growth, responsible development, and long-term value creation for shareholders and local stakeholders.

Warning Statement

Neither the 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. Certain disclosures in this release may constitute "forward-looking statements" within the meaning of the United States Securities Litigation Reform Act of 1995 and the Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that it believes are reasonable. However, forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties are detailed from time to time in the Company's filings with relevant securities commissions, and may include, but are not limited to, market conditions, and delays in obtaining or failing to obtain regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking statements. The Company has no intention, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: PPX Mining Corp.

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