Announcement • Jul 01
PPX Mining Corp Resumes Diamond Drilling Program At The Callanquitas Mine PPX Mining Corp. had its Peruvian mining partner, Proyectos La Patagonia S.A.C., sign a drilling services contract with RAMPERU S.A.C. Servicios Generales to resume diamond drilling exploration activities at the Callanquitas Mine in northern Peru. The drilling campaign marks the continuation of PPX's systematic exploration strategy aimed at expanding the known mineralization surrounding the Callanquitas deposit and advancing the Company's understanding of the broader Igor Project. The drilling campaign will focus on testing extensions of known mineralized structures within the Callanquitas veins through HQ3 diamond drilling. Information collected during the program, including geological logging, structural data, core recovery and analytical results, will be used to refine the Company's geological model and support future resource evaluation and mine planning activities. The Company expects mobilization activities to begin following the contractual advance payment and completion of site preparations, with drilling expected to continue over approximately nine months. Initial diamond drilling program of approximately 4,860 metres using a modern Tecdrill H400E drill rig. Option to expand the campaign to approximately 9,810 metres through the addition of a second drill rig. Expected execution period of approximately 265 calendar days following mobilization. Comprehensive health, safety, environmental and operational standards. Daily technical reporting, borehole documentation and final technical acceptance procedures. PLP to provide site infrastructure including access, water, power, fuel, accommodation and auxiliary equipment. All scientific and technical information contained in this press release has been reviewed and approved by Dr. Warren Pratt, PGeo., Technical Advisor of PPX Mining Corp., who is a qualified person as defined within the National Instrument NI-43-101. New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$26m free cash flow). Negative equity (-CA$4.1m). Earnings have declined by 65% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$20m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$20m free cash flow). Negative equity (-CA$9.5m). Earnings have declined by 58% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Shareholders have been diluted in the past year (24% increase in shares outstanding). 
