Star Metro - PPX Mining Delivers Another Record-Breaking Month in 2025

In October 2025, the Callanquitas operation generated gross revenues of PEN 17.4 million (CAD$ 7.2 million)⁽¹⁾ and delivered a gross profit of PEN 11.5 million (CAD$ 4.8 million)⁽¹⁾, representing a gross margin of approximately 66%. The operation also achieved pre-tax income of PEN 7.6 million (CAD$ 3.1 million)⁽¹⁾, setting a new Company record. As a result, PPX, through its Peruvian subsidiary, earned a NPI of PEN 5.7 million (CAD$ 2.4 million)⁽¹⁾, marking the highest monthly NPI achieved to date.

Cumulative NPI earned by PPX for the 2025 calendar year through October now totals PEN 22.1 million (CAD$ 9.2 million)⁽¹⁾, already exceeding the total earned during the same period in the prior year. This strong performance reflects the growing cash-generating capacity of the Company's flagship Igor Project.

On the development front, PPX continues advancing construction of its CIL and flotation plant, with multiple key components now in final installation stages. Once operational, the plant is expected to significantly reduce mining, transportation, and processing costs, while enabling higher throughput, improved metallurgical recoveries, and enhanced operational efficiency. This strategic infrastructure investment is central to unlocking the next phase of growth at the Igor Project, strengthening cash flow generation, and supporting PPX's long-term production expansion plans.

John Thomas, Chief Executive Officer, commented: "October's performance underscores the accelerating strength of our Callanquitas operation and the discipline of our team and alliances on the ground. Delivering back-to-back record months-culminating in the strongest results of the past year-demonstrates the robust and resilient nature of the Igor Project. PPX is entering a new stage of growth, supported by rising cash flow, expanding infrastructure, and the continued commitment to responsible operations and long-term value creation for our shareholders."

^{(1) Foreign Exchange: 1 CAD$ = 2.41 PEN}

On behalf of the Board of Directors

John Thomas
Chief Executive Officer
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737

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.

Cautionary Statement:

This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding test results, future plans or management estimates. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory approvals in connection with this transaction. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.

SOURCE: PPX Mining Corp.

View the original press release on ACCESS Newswire

A.Lavoie--SMC