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Powermax Minerals Inc
Symbol PMAX
Shares Issued 28,961,476
Close 2025-11-24 C$ 1.37
Market Cap C$ 39,677,222
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Powermax completes phase 2 fieldwork at Cameron

2025-11-25 12:02 ET - News Release

Mr. Paul Gorman reports

POWERMAX MINERALS COMPLETES PHASE 2 FIELDWORK AT THE CAMERON RARE EARTH ELEMENT (REE) PROJECT, BRITISH COLUMBIA

Powermax Minerals Inc. has completed its phase 2 exploration field program at the Cameron rare-earth element (REE) project, located in the Kamloops mining division, British Columbia. The program followed up on encouraging phase 1 results that confirmed the presence of light and heavy rare-earth mineralization within the Monashee Group lithologies, including pegmatitic and gneissic units enriched in REE-bearing minerals such as monazite, allanite and xenotime.

Phase 2 fieldwork summary

The phase 2 program included geological mapping, systematic rock sampling and extensive geochemical surveys across priority areas delineated from prior reconnaissance and geophysical interpretation. A total of 100 soil samples, 100 stream sediment samples, and 29 rock samples were collected and submitted to Agat Laboratories in Calgary, Alta., for sample preparation and analysis. The analytical work includes the 201 to 380 metals package for rare-earth elements (REE), two rock samples were selected for additional testing of gold by fire assay and one sample for graphite.

Rock chip sampling focused on exposures of gneissic and pegmatitic rocks, with several samples taken from quartz-biotite gneiss, granitic outcrops and carbonatite lenses containing abundant garnet. These lithologies are known to host both light and heavy REE minerals, and represent key exploration targets for follow-up work.

Stream sediment samples were collected from active drainage systems, consisting of classified river gravels and fine sediments sieved through No. 18 mesh (0.0394 inch), ensuring the capture of fine-grained material capable of reflecting upstream REE mineralization sources.

Soil samples were taken from B horizon mainly composed of silty to sandy soils (two to 30 centimetres deep) with variable gravel content, covering both potential mineralized and background zones. The materials were generally light brown to greyish brown, typical of glacially derived surficial deposits overlying metamorphic bedrock.

All analytical work will be conducted by Agat Laboratories Ltd., Calgary, Alta., an ISO/IEC 17025:2017 accredited facility. The laboratory maintains QA/QC (quality assurance/quality control) protocols including the insertion of blanks, duplicates and certified reference materials during sample preparation and analysis.

The data generated from this program will be integrated with previous geological and geophysical results to refine the geochemical model and delineate new priority drill targets for the next exploration phase.

CEO's comment

Paul Gorman, chief executive officer of Powermax Minerals, commented: "The completion of our phase 2 fieldwork represents another important milestone for the Cameron project. The range of lithologies sampled and the systematic coverage of soils and sediments will provide a comprehensive data set to evaluate rare-earth element distribution patterns across the property. We look forward to the upcoming analytical results, which will guide our follow-up exploration and potential drill targeting."

About the Cameron REE project

The Cameron rare-earth element project covers approximately 2,984 hectares in the Kamloops mining division, British Columbia. The property lies within the Monashee Group, a metamorphic and granitic terrane known to host REE-bearing pegmatites, carbonatite zones and altered gneisses. Rare-earth mineralization is associated with shear zones and structurally controlled pegmatitic intrusions enriched in both light (LREE) and heavy (HREE) elements.

Qualified person

The technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, PGeo, who is a director of the company and a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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 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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