Mr. Paul Gorman reports

POWERMAX MINERALS COMMENCED 2026 EXPLORATION WORK AT THE CAMERON RARE EARTH ELEMENT PROJECT, BRITISH COLUMBIA

Powermax Minerals Inc. has commenced its 2026 exploration program at the company's 100-per-cent-owned Cameron rare earth element project, located near Revelstoke, B.C.

The three-week field program has been designed to follow up encouraging results from previous stream sediment, soil and rock geochemical surveys and will focus on refining and prioritizing rare earth element exploration targets for future trenching and drill evaluation.

The work program will integrate detailed geological mapping, prospecting, rock, soil and stream sediment sampling, together with targeted ground radiometric surveying. Geological, geochemical and radiometric data sets generated during the program will be integrated to identify and prioritize areas for follow-up exploration.

2026 exploration program highlights

The 2026 exploration program will include:

• Detailed geological mapping and prospecting over priority REE target areas, known pegmatite occurrences and historical thorium-uranium showings;
• Selective rock sampling of pegmatites altered zones and prospective outcrops;
• Infill soil sampling across previously identified REE anomaly corridors to improve anomaly definition;
• Additional stream sediment sampling within secondary tributaries and upstream drainages to better constrain potential bedrock source areas;
• Ground radiometric surveys using a hand-held gamma-ray spectrometer to investigate radiometric anomalies associated with prospective geological units;
• Integration of all geological, geochemical and radiometric data sets into a comprehensive target ranking model to support future trenching and first-pass drill planning.

The program is expected to take approximately three weeks to complete and will be conducted by an experienced exploration team using road-supported access supplemented by limited helicopter support where necessary.

Previous exploration

Previous exploration completed by the company identified multiple rare earth element anomalies from stream sediment, soil and selective rock sampling across several target areas on the Cameron property. Elevated light rare earth oxide, heavy rare earth oxide and total rare earth oxide values, together with mapped pegmatites and historical thorium-uranium occurrences, have identified several priority exploration corridors that warrant additional investigation. The current phase 1 program is intended to improve the understanding of these target areas and refine priorities for subsequent exploration.

Management commentary

Paul Gorman, chief executive officer of Powermax Minerals, commented:

"We are pleased to commence this important 2026 exploration program at the Cameron REE project. Building on encouraging results from previous exploration, this program has been designed to integrate geological mapping, geochemical sampling and targeted geophysical surveys to better define and prioritize exploration targets. We look forward to completing the program and using the results to guide the next phase of exploration."

Project objectives

The primary objectives of the 2026 exploration program are to:

• Refine the location and continuity of previously identified REE target corridors;
• Better define potential bedrock sources responsible for anomalous stream sediment and soil geochemistry;
• Improve the geological understanding of pegmatite-hosted REE mineralization;
• Integrate geological, geochemical and radiometric information to prioritize targets for future trenching and drill testing.

The company cautions that the Cameron REE project remains at an early stage of exploration. The presence of geochemical or radiometric anomalies does not necessarily indicate the presence of economically recoverable mineralization. Any future exploration, including trenching or drilling, will be subject to the results of the current program and the receipt of any necessary permits.

Qualified person

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

Quality assurance/quality control and sampling procedures

Fieldwork will be completed using industry standard exploration practices. Rock samples will be collected from representative outcrops, pegmatites, altered zones and mineralized float based on lithology, alteration, structural features and mineralization observed in the field. Soil samples will be collected from the B-horizon, where possible, using standard sampling procedures, while stream sediment samples will be collected from active drainage channels within the target catchments. Sample locations will be recorded using hand-held GPS units.

All samples will be placed in securely sealed sample bags and transported under chain of custody by company personnel to an independent accredited laboratory. Ground radiometric measurements collected using a hand-held gamma-ray spectrometer are intended solely as field screening tools to assist in geological mapping and target generation. These measurements are not direct determinations of uranium, thorium, rare earth element concentrations or economic mineralization, and should not be considered equivalent to laboratory analytical results.

About Powermax Minerals Inc.

Powermax is a Canadian mineral exploration company, holding options to acquire prospective REE opportunities at the Cameron REE property, located in British Columbia, as well as the Atikokan, Hopkins and Pinard REE properties, located in Ontario. Powermax also owns a 100-per-cent interest in the Ogden Bear Lodge REE project located in Crook county, Wyoming.

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