Vancouver, British Columbia – August 10, 2020 – PPX Mining Corp. (the “Company” or “PPX”) is pleased to announce that as of July 23, 2020, the Company had filed all of its outstanding disclosure documents which include: (i) the audited annual financial statements for the year ended September 30, 2019; (ii) the interim financial report for the period ended December 31, 2019; (iii) the interim financial report for the period ended March 31, 2020; (iv) the management’s discussion and analysis for the periods ended September 30, 2019, December 31, 2019 and March 31, 2020; and (v) the certification of annual and interim filings for periods ended September 30, 2019, December 31, 2019, and March 31, 2020.
On July 27, 2020, the Company received a revocation order from the British Columbia Securities Commission, informing the Company that all required records had been filed and that the Cease Trade Order issued on May 20, 2020 had been revoked. Further to receiving the revocation order, the TSX Venture exchange has announced that the Company’s securities will resume trading on the TSX Venture Exchange as of opening on August 11, 2020.
Brian J. Maher, President and CEO of PPX Mining Corp. commented: “The Company is excited to resume trading, especially in light of the strong market dynamics we are experiencing. With the resumption of mining at the Igor Project, PPX is well positioned to take advantage of current precious metal prices, and continue developing and expanding operations at Mina Callanquitas.”
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: 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 developing the Callanquitas Mine and heap leach facility to exploit high grade, underground-minable oxidized gold and silver ore. Based on the Company’s Pre-Feasibility Study (“PFS”), PPX expects the Callanquitas Mine to produce up to 26,000 AuEq* ounces per year over a seven-year mine life at cash cost of less than US$610/AuEq* ounce (the Igor PFS is available on the Company’s website and SEDAR). 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. New discoveries at Portachuelos, coupled with the Domo and Tesoros exploration targets, emphasize that the Igor Project is evolving into a district-scale project with multiple deposits and mineralized zones.
*AuEq is calculated as follows: AuEq ounces = Au ounces + Ag ounces/75. Per PFS, inclusive of metallurgical recovery.
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, June 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 June 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 June 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.