Vancouver, British Columbia – May 8, 2017 – PPX Mining Corp. (the “Company” or “PPX”) is pleased to announce the appointment of Hector Paredes Tarazona as Operations Manager – Peru. Hector will oversee and mange all operational, engineering, and permitting aspects of the Company’s ongoing bulk sampling and test mining program as well as future processing facilities at it’s Igor Project in northern Peru.
Hector Paredes is a Peruvian born Professional Mining engineer, MSc, MBA, with over 28 years experience in the mining industry. Hector has worked in production (Gold Fields, AECI, ICI, Orvana) and as well as several global consulting companies (NOSA, IGH, IRCA, TWP, WorleyParsons) throughout his career in a variety of positions including: Mining Engineer, Product Manager, Marketing Manager, Senior consultant, Operations Manager, General Manager, Operations Director, Country Manager, Regional Managing Director and Chief Operations Officer (COO). Hector’s broad experience in mine operations, process engineering and project execution will benefit the Company as we continue the development of the Igor Mine Project . As part of his compensation, Hector has been granted 600,000 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.
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 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 the Igor Mine Project. 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
FOR FURTHER INFORMATION, PLEASE CONTACT:
PPX Mining Corp.
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.