Vancouver, British Columbia – June 28, 2017 – PPX Mining Corp. (the “Company” or “PPX”) is pleased to announce management’s proposed Board of Director nominees for the upcoming Annual General Meeting (“AGM”) scheduled for July 14, 2017 in Vancouver, British Columbia. In addition to incumbent directors Brian J. Maher, John Menzies, Felix Navarro-Grau Hurtado and Brian Imrie, the Company is pleased to announce the nomination of John Thomas and Florian Siegfried to serve as directors of the Company. Current directors Diego de la Torre de la Piedra, Fernando Arias, and Jorge Benavides will be stepping down from the Board of Directors; the Company wishes to thank each of these gentlemen for their years of service to the Company and their guidance during the transition of the Company from a pure exploration company to an integrated mine development company focused on our Igor Project in northern Peru.
Dr. Thomas and Mr. Siegfried bring distinct skill sets to the Company as evidenced in their biographies below:
- Dr. Thomas is a professional engineer, and holds a BSc, an MSc and a PhD in chemical engineering from the University of Manchester in the United Kingdom. He also received a diploma in accounting and finance from the U.K. Association of Certified Accountants. He has 44 years of experience in the mining industry, including both base metal and precious metal projects in several countries including Brazil, Venezuela, Costa Rica, Russia, Kazakhstan, Canada and Zambia. His experience covers a wide range of activities in the mining industry from process development, management of feasibility studies, engineering and management of process plant construction, and the operation of multiple underground and surface mines.
- Florian Siegfried heads the precious metals and mining investments at AgaNola Ltd., an asset management boutique based in Switzerland. Previously Florian Siegfried was the Chief Executive Officer (“CEO”) of Precious Capital AG, a Zurich-based fund specializing in Global mining investments. Prior to this Mr. Siegfried was CEO of shaPE Capital Ltd., a SIX Swiss Exchange-listed private equity company that was founded by Bank Julius Baer & Co. Ltd. and where he was instrumental in raising more than CHF 50 million in equity capital. Florian is currently a director of GoldQuest Mining Corp (GQC: TSX.V). Mr. Siegfried holds a Masters degree in finance and economics from the University of Zurich.
Brian J. Maher, President and CEO of PPX Mining commented: “PPX is pleased that Florian and John have agreed to be nominated to join our Board of Directors. Florian’s years of experience, as a Board member, financial advisor and an investor in the junior mining space will provide international financial acumen to the Board as the Company heads toward Pre-feasibility at Mina Callanquitas and we plan for the future growth of the Company. John’s impressive track record of building mineral processing plants and mines at various locations around the world, but in particular Latin America, will be a source of technical expertise and experience that we can apply to our own projects as we continue to grow our Company. On behalf of all shareholders, I would like to thank Diego, Fernando and, in particular, Jorge Benavides, for their leadership at PPX over the years and look forward to their continued support as shareholders and colleagues.”
About PPX Mining Corp.: PPX Mining Corp. (PPX: TSX.V; BVL) is currently exploring and evaluating mine development opportunities at its Igor Mine Project in Northern Peru. The Igor project explores several high grade, gold and silver mineralized high-angle structures that host significant gold and silver resources. The Callanquitas Structure at the Igor Mine Project contains Inferred gold and silver resources of 7,189,000 tonnes grading 1.94 gpt gold and 71.8 gpt silver containing 448,500 ounces of gold and 16,600,000 ounces of silver at a cutoff grade of 1.5 gpt gold equivalent. Included within this resource estimate is a higher grade zone consisting of 2,730,000 tonnes grading 2.73 gpt gold and 119.1 gpt silver containing 239,400 ounces of gold and 10,500,000 ounces of silver using a 3.0 gpt gold equivalent cutoff grade (Please see Technical Report as amended on September 27, 2013 entitled “Technical Report on the Callanquitas Structure, Igor Mine Project, Northern Peru, South America”, available on the Company’s web site or SEDAR). Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves. The Company has begun work on its underground test mining and bulk sampling program which is designed to validate and upgrade the resource estimate, and generate data to evaluate the possibility of future mine development at Igor. The Company is accelerating its exploration program at the Igor Mine Project in order to fully evaluate the resource potential of the entire Igor project area.
All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Independent Consulting Geologist to PPX Mining Corp., who is a qualified person under the definitions established by National Instrument 43-101.
On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer
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 disclosure in this release, may constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable. However, the 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 in such forward-looking statements. Such uncertainties and risks are detailed from time to time in the Company’s filings with the appropriate securities commissions, and may include, among others, market conditions, and delays in obtaining or failure to obtain required 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 are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, 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.