PPX Mining Corp. (TSX-V: PPX) (BVL: PPX) is pleased to announce that it has closed the first tranche of its previously announced silver royalty with Silver Crown Royalties Inc. (CBOE:SCRI) (OTCQX:SLCRF) (FRA:QS0) pursuant to the silver royalty agreement dated December 13, 2024 between the Company and SCR, resulting in gross proceeds to the Company of US$1,000,000. Proceeds will support the Company’s ongoing construction of the CIL and Flotation plant at the Company’s Igor project, located in La Libertad, Peru.

John Thomas, CEO commented, “we are pleased to close this transaction with Silver Crown Royalties. The funding received and the second tranche coming within six months will support our ongoing construction activities at site.”

Upon the closing of the first tranche, SCR was granted a Silver Royalty for 6% of the cash equivalent of silver produced from PPX’ Igor 4 mining concession. The Royalty Agreement contemplates the closing of a second tranche of US$1,470,000, to be paid within six months, which will automatically increase the Silver Royalty to 15%. If the second tranche is not completed within six months of Closing, PPX has the right to repurchase the Silver Royalty for US$1,000,000 (less any royalty payments made to date).

Further details regarding the Silver Royalty and the Royalty Agreement capbe found in the Company’s press release issued December 16, 2024 announcing the Royalty Agreement. A copy of the Royalty Agreement is available on the Company’s SEDAR+ profile at www.sedarplus.ca.

About PPX Mining Corp:

PPX Mining Corp. 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.