PPX Mining Corp. announced that in May 2024 the underground sampling of level 2970 was carried out with 16 channels cut on the sulfide vein (Callanquitas East tensional vein). The mineralization in these channels is closely associated with the assays obtained with the drillhole CA-24-07 (high Au, Ag, and Cu grades).

These channels intercepted the same tensional veins at a higher elevation. The last two channels, to the North, obtained spectacular results in Au and Ag assays and vein thickness. Just as channel C7 assayed 3.76 g/t Au and 2853.1 g/t Ag over 1.9m; channel C6 assayed 22.13 g/t Au and 718.0 g/t Ag over 0.5m; a central channel C12 assayed 17.73 g/t Au and 447.3 g/t Ag over 1.35m; to the South channel C14 assayed 9.55 g/t Au and 1236.0 g/t Ag over 0.85m.

There is a Cu anomaly in one channel C5 assaying 2.22% Cu, 18.56 g/t Au and 4160.6 g/t Ag over 0.3m. The Table N°01 below shows the 16 channels with their grades, channel lengths and thickness of the sampled vein. The cut channels are located in the Callanquitas East tensional vein with sulfide mineralization, a vein that was located by exploration with underground galleries in the Callanquitas mine at the level of 2970.

The 16 channels have a total vein length of 50m and a separation between the channels of 3m. This tensional vein was intercepted by the drill hole CA-24-07 in February, 2024, and the results are reported in Table 02. The drill hole CA-24-07 is located 120 m below the gallery 2970, and was sampled with channels.

The geochemical results of Au, Ag and Cu in the channels and CA-24-07 present a similar geochemical signature. These results give them prospectivity to continue explorations with drilling and underground galleries, obtaining a high prospectivity of replicating the high grades in Ag, Au and Cu in the sulfide zones. The vein has an azimuth of N330 with a Dip of 75 NE, a thickness of 0.3 to 5m according to the geological interpretation of the channels and drill hole CA-24-07.

The mineralized section is compact and with brecciated sections. It is made up of lithic fragments of coal with mineralization of pyrite and chalcopyrite as a matrix, as well as chalcocite. The sulfides are accompanied by a few patches of quartz and the vein has a medium hardness and high density due to the sulfide content.

The results show a trend of increasing grades in Au, Ag and Cu to the North and increasing thickness. The vein is open to the North and South, and at depth. The projection of the vein is towards the drillhole CA-24-07.

PPX geologists collect diamond drill core samples immediately following geological and geotechnical logging. Samples are collected based on natural structures, mineralization and geological contacts and characteristics based on their sample lengths. Samples are separated by obvious geological boundaries such as rock types, mineralization styles, and hydrothermal alteration associations.

Samples are collected by cutting the core in half, using a diamond saw. The second half is retained for future review analysis, future studies, and reference. Samples are put in sample bags with sample tags, sealed, labeled and stored in a secure area before shipment to SGS laboratories in Trujillo-Lima, Peru.

Gold and silver analyzes are performed using a fire assay method with a CN solution. Blanks and standards are inserted approximately every 10th sample; Duplicate samples are included at similar intervals. Duplicate fire assay tests approximately every 30 samples are sent to a second laboratory for reanalysis.

The gold equivalent is calculated as: Au Eq = (Au gpt) + (Ag gpt/90).