Vancouver, British Columbia – December 17, 2020 – PPX Mining Corp. (the "Company" or “PPX”) is pleased to announce that over 10,974 tonnes of ore grading 10.36 gpt gold were mined during calendar Q2 and Q3 (April - September) 2020 at Mina Callanquitas. The mine production rate in April through June was severely curtailed in response to the COVID-19 pandemic, averaging 40 tonnes per day. Mining operations began ramping up in July and by September, mine production averaged 104 tonnes/day. Preliminary mine production reports for October show mine production of almost 120 tonnes/day, the approximate rate prior to the onset of the COVID-19 pandemic. In addition, 732 metres of lateral mine development, exploitation, and exploration were also completed during Q2 and Q3 2020. Highlights of ore processing results for calendar Q2 and Q3 2020 are given below:

• The Company’s mining partner Proyectos La Patagonia S.A.C. (“PLP”) provided the Company with a detailed report on operations at Mina Callanquitas and ore processing for calendar Q2 and Q3 2020. PLP reports that 6,595 tonnes of gold mineralized ore were shipped to Planta Las Lomas (“Las Lomas”), located in the Department of Piura, Peru. The tonnage processed was less than the tonnage mined during the period due transportation restrictions related to the COVID-19 pandemic that curtailed deliveries to Las Lomas. The average gold grade of the ore processed was 9.82 gpt gold, recoveries ranged from 81% to 84%, resulting in production of 1,713 ounces of gold. To date, PPX has mined over 114,000 tonnes from the Measured and Indicated Resource at Mina Callanquitas which includes a portion of the project’s Mineral Reserves as defined in the Igor PreFeasibility Study (“PFS”, available on the Company’s website or SEDAR).

• The Company has not announced commercial production, however, Mina Callanquitas did generate revenue for PPX in Q1 and Q3 2020, a significant achievement for the Company. Lower costs achieved by PLP coupled with higher gold prices, combined to produce the positive revenue stream.

Brian J. Maher, President and CEO of PPX Mining Corp commented: “PPX is pleased with the resumption of both mining and processing ore from Mina Callanquitas by our partner PLP. Based on preliminary results from October, we expect calendar Q4 2020 to produce solid production numbers. The Company continues to advance negotiations with multiple parties to complete a comprehensive and wholistic recapitalization of the Company that will allow PPX to complete its processing plant at the Igor Project, allowing for an increase in mine and processing capacity to its fully permitted 350 tonnes/day.”

Coronavirus/COVID-19 Information:

Currently, all PPX and Sienna Minerals S.A.C. employees are working from home in accordance with their individual government recommendations and mandates. This status will continue for the foreseeable future, again under the guidance of respective local authorities.

About PPX Mining Corp:

PPX Mining Corp. (TSX.V: PPX.V, SSE: PPX, 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 operating the Callanquitas Mine (“Mina Callanquitas”) exploiting 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). While PPX has not declared commercial production at Mina Callanquitas, increasing metal prices and mine productivity, coupled with superior toll milling contracts, have all contributed to the increasing revenue derived from operations at Mina Callanquitas. It should be noted that the decision to commence mining operations at Mina Callanquitas is based solely on the PFS referenced above, not a feasibility study. As such, there is an increased uncertainty as to the specific economic outcome of the project and a similar increase in the technical risk of failure associated with a production decision based solely on the PFS.

Through Fiscal Q3 2021, Mina Callanquitas has produced over 133,000 tonnes of ore grading 9.40 gpt gold and 79.1 gpt silver resulting in the production of 30,857 ounces of gold from the Measured and Indicated Resource at Mina Callanquitas which is a portion of the project’s Mineral Reserves as defined in the Igor PFS. The mine currently produces at a rate of approximately 140 tonnes/day with ore being processed at nearby toll milling facilities.

*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 Browne M.Sc., a Certified Professional Geologist and a member of the American Institute of Professional Geologists, and is a Qualified Person as the term is defined in NI 43-101. Mr. Browne is an independent consultant of PPX Mining Corp.

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
Phone: 1-530-913-4728
Email: brian.maher@ppxmining.com
Website: www.ppxmining.com

Cautionary Statement Regarding Forward-Looking Information

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 the resumption of trading on the Exchange. 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 the resumption of trading on the Exchange.

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.