Vancouver, British Columbia – October 17, 2017 – PPX Mining Corp. (the “Company” or “PPX”) is pleased to announce that the Company has appointed Meri Verli of Toronto, Canada Chief Financial Officer (“CFO”) of PPX effective as of October 1, 2017. Meri brings over twenty years of experience in all aspects of finance, cost control, accounting and financial reporting. Prior to joining PPX, Meri was Senior Vice President – Finance and Treasury at Kirkland Lake Gold, leading the consolidation of financial records, accounting procedures and fiscal reporting protocols of Kirkland Lake through multiple M & A transactions. Meri also worked with Lakeshore Gold for nine years prior to their consolidation with Tahoe Resources in 2016. Meri served as Vice President – Finance at Lakeshore, helping guide the company from explorer to underground miner. Meri worked for KPMG from 1997 until 2007 and is a CA and CPA in Canada. As part of her compensation, Meri has been granted 800,000 incentive stock options pursuant to the Company’s Stock Option Plan at a price of $0.075 per share. The options are exercisable for a period of five (5) years.
Brian J. Maher, President and CEO of PPX Mining commented: “We are excited to announce Meri Verli joining PPX as CFO. Meri’s experience at Kirkland Lake and Lakeshore, two large scale and successful underground gold miners, should greatly assist the Company as we advance the Igor Project and move forward with our Pre Feasibility Study (“PFS”) for Mina Callanquitas. Beyond engineering and geology, underground mining is a detailed exercise in cost control, economic evaluation, mine planning and scheduling. We look forward to applying Meri’s expertise in these areas to our project and the Mina Callanquitas PFS in the months ahead. ”
About PPX Mining Corp: PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, BVL: PPX) is a Canadian-based exploration and development 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 pursuing a two-prong strategy to further develop and explore the Igor Project. The Company has begun work on its underground test mining and bulk sampling program which is designed to upgrade the resource estimate and generate data to evaluate the possibility of future mine development at Igor through the PFS process. To date, PPX has processed over 3,516 tonnes of bulk sample averaging 8.17 gpt gold. Simultaneously, PPX is accelerating its exploration program at Igor in order to fully evaluate the resource potential of the entire Igor project area. The Callanquitas Structure is open along strike and at depth. Parallel structures are unexplored and, coupled with the Domo and Tesoros areas; these drill targets highlight the exploration potential at Igor. Evaluating mine development alternatives in parallel with exploration drilling provide dual catalysts for growth and increasing shareholder value.
Previous exploration on the Callanquitas Structure discovered a significant Inferred gold and silver resource: 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, amended September 27, 2013, available on the Company’s website 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.
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.