PPX Mining Corp. has received environmental approval to begin exploration drilling at the Portachuelos area of its Igor project in northern Peru.

The approval authorizes a 10,315-metre diamond drilling program comprising 58 drill holes over a maximum period of 20 months. The permit is granted under the Environmental Technical Sheet approved on August 11, 2026, by Peru’s Ministry of Energy and Mines. It marks the first surface drill permit obtained by PPX Mining Corp. since its previous permit expired in October 2019.

PPX is currently processing the Authorization to Commence Activities and running a tender to select a drilling contractor, with drilling intended to begin by the end of September 2026. The company plans to deploy at least two drill rigs to accelerate the campaign during the 2026 calendar year.

The Igor Project is PPX Mining Corp.’s 100%-owned flagship gold and silver asset in the La Libertad region. The Portachuelos target is distinct from the Callanquitas breccia system, where PPX is currently conducting mining operations. Sulfide exploration across the wider asset is supported by funding from Glencore’s strategic investment, which closed in December 2025.

Historical drilling at Portachuelos includes hole CA-18-94 on the Bx2 structure, which returned 6.0 metres grading 5.77 g/t gold, 443.8 g/t silver and 0.67% copper, including a 1.0-metre interval grading 9.87 g/t gold, 904.0 g/t silver and 1.08% copper.

President and CEO Ernest Mast commented: “Receiving environmental approval for the Portachuelos exploration program is an important milestone for PPX and represents a significant step forward in unlocking the broader exploration potential of the Igor Project. Historical drilling at Portachuelos has returned compelling gold, silver and copper mineralization, including significant high-grade intervals, and we are excited to systematically follow up on these results. With more than 10,000 metres of drilling planned, this program is designed to significantly improve our understanding of a mineralized system that is distinct from Callanquitas and could ultimately expand the scale and potential of the Igor Project.”

Read the full announcement: PPX Receives Environmental Approval for 10,315 metre Drill Program at Portachuelos, Igor Project