Mr. Paul Gorman reports

POWERMAX ANNOUNCES AMENDMENT TO WARRANT TERM FOR NON FLOW-THROUGH PRIVATE PLACEMENT

Further to its news release dated Oct. 15, 2025, Powermax Minerals Inc. has amended the exercise period of the warrants that are part of the non-flow-through units it is offering at a price of 76 cents per unit. The warrants will be exercisable to acquire one common share for a period of 36 months (previously 24 months) from their issue date at an exercise price of 95 cents. All other terms of the private placement remain the same as announced on Oct. 15, 2025.

About Powermax Minerals Inc.

Powermax Minerals is a Canadian mineral exploration company focused on advancing rare earth element projects. The company holds an option to acquire the Cameron REE (rare earth element) property, comprising three mineral claims totalling approximately 2,984 hectares in British Columbia. Powermax also optioned to acquire the Atikokan REE property, consisting of 455 unpatented mining claims in Northwestern Ontario. Powermax also owns a 100-per-cent interest in the Ogden Bear Lodge project in Crook county, Wyoming.

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