Philex Mining : Clarification of News Reports

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER 1. Date of Report (Date of earliest event reported) Jan 3, 20222. SEC Identification Number 100443. BIR Tax Identification No. 0002837310004. Exact name of issuer as specified in its charter PHILEX MINING CORPORATION5. Province, country or other jurisdiction of incorporation Philippines6. Industry Classification Code(SEC Use Only) 7. Address of principal office 2nd Floor LaunchPad, Reliance Cor. Sheridan Sts.,Mandaluyong CityPostal Code15508. Issuer's telephone number, including area code [phone]. Former name or former address, if changed since last report n/a10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
common	4,940,399,068

11. Indicate the item numbers reported herein 17-c

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Philex Mining CorporationPX PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification on news article "Silangan mine to follow Philex's 'best practices'" posted in manilastandard.net on December 28, 2021.

Source	Manila Standard
Subject of News Report	Silangan mine to follow Philex's 'best practices
Date of Publication	Dec 28, 2021

Clarification of News Report

We write with respect to the news article "Silangan mine to follow Philex's 'best practices'" posted in manilastandard.net on December 28, 2021, it was reported in part that: ". . . .Silangan Mining expects to spend P5 billion over the life of the mine for community development, environmental protection and enhancement program and for final mine rehabilitation and decommissioning. Phase I of the Silangan project is estimated to cost P11.2 billion which will be financed from mixed funding sources. The annual sustaining capex aggregates to P75 billion throughout the life of mine. It is programmed to be financed from the internal cash from operations of Silangan beginning 2025 for a total investment of about P86.7 billion. . . . . " This is to confirm accuracy of all the information stated in the above news article which information form part of the execution plan for the development of the Phase 1 of Silangan Project based on the Company's latest fund raising program as mentioned in an interview by Mr. Eulalio B. Austin, the Company's Chief Executive Officer. For your information.

Other Relevant Information

n/a

Filed on behalf by:

Name	Romeo Bachoco
Designation	Chief Finance Officer