Mr. Duncan Roy reports

POWER METALLIC DEMONSTRATES POSITIVE INITIAL MINERALOGY RESULTS - PGE ENRICHMENT ASSOCIATED WITH CHALCOPYRITE AND CUBANITE

Power Metallic Mines Inc. has provided an update on preliminary mineralogy scans performed by IOS Geosciences based in Chicoutimi, Que.

Detailed microscopic scans are being performed on selected mineralized samples from the Lion zone to understand the characteristics of the mineralogy. This will help inform future metallurgical recovery studies on the Lion zone. Approximately half of the suite of over 100 samples selected to represent the various mineralized zones at Lion have been completed, and results to date are encouraging for potential conventional sulphide concentrate recovery methods.

The Lion deposit has two zones of mineralization defined by drilling, consisting of a high-grade zone and a lower-grade hangingwall zone. Current understanding is that the vast majority of the metal value in the deposit is contained within the high-grade zone, consisting of semi-massive to massive copper sulphide mineralization.

The scans by IOS reveal the mineralogy of the economic metals and their host rocks. This characterization is critical for determining potential metallurgical recoveries, in particular for understanding the mineral species of the high-value copper and PGEs (platinum group elements). Of utmost importance is understanding the characteristics of the high-grade zone containing the bulk of the metal in the deposit.

Work to date has shown that the copper mineralization is contained within coarse-grained chalcopyrite and cubanite, both which should respond well to conventional sulphide concentration methods, similar to processes carried out on Sudbury-type ores.

Additionally, the scans have shown that the majority of PGE mineral species occur within or attached to the chalcopyrite and cubanite. This suggests the potential for very good recovery of these PGEs in a copper concentrate. In addition, the species of PGE minerals, including stannopalladinite, froodite and merenskyite, are minerals that are similar to those recovered in other polymetallic ores, such as the Sudbury basin deposits and Norilsk.

Over all, the character of the mineralization and the host sulphides suggest that good recoveries of both the copper minerals and the PGEs can be expected in conventional sulphide concentration recovery methods.

Mineralogy and metallurgical timeline

Mineralogy testing is expected to be complete by the end of summer. Upon completion, initial scoping-level metallurgical testing will be started. The company aims to evaluate the optimal recovery method for the deposit and targets the start of this work prior to the commencement of the winter drill program, with initial results expected early next year.

Qualified person

Joseph Campbell, PGeo, vice-president, exploration, at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

About Power Metallic Mines Inc.

Power Metallic is a Canadian exploration company focused on advancing the Nisk project area (Nisk/Lion/Tiger) -- a high-grade copper/PGE, nickel, gold and silver system -- toward Canada's next polymetallic mine.

On Feb. 1, 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80 per cent of the Nisk project from Critical Elements Lithium Corp. Following the June, 2025, purchase of 313 adjoining claims (approximately 167 square kilometres) from Li-FT Power, the company now controls approximately 212.86 square kilometres and roughly 50 kilometres of prospective basin margins.

Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs.

Beyond the Nisk project area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile (by its 50-per-cent share ownership position in Chilean Metals Inc.), which were spun out from Power Metallic through a plan of arrangement on Feb. 3, 2025.

It also owns 100 per cent of Power Metallic Arabia, which owns 100-per-cent interest in the Jabul Baudan exploration licence in the Kingdom of Saudi Arabia's Jabal Sayid belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper/gold and zinc mineralization. The region is known for its massive volcanic sulphide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposits.

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