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POWER METALS PROVIDES PROJECT UPDATE FOR CASE LAKE CESIUM PROJECT

Power Metals Corp. has provided a company update for the Case Lake cesium project.

Major highlights

• Company advances development for mining phase at Case Lake;
• Confirms recent site visit with stakeholders and team from the Ontario Geological Survey (OGS);
• Enters final stages of strategic negotiations for Case Lake.

With the exploration and resource foundations in place, Power Metals is turning its attention to the next stage of development to position the Case Lake cesium project to become a producing mining operation.

The company's team has been hard at work advancing baseline studies, refining development plans, and engaging closely with governments and indigenous partners to ensure the path forward is both technically strong and socially responsible.

This engagement goes beyond consultation. It is about building genuine partnerships that create continuing employment and contract opportunities for first-nations-owned businesses. Most recently, the company commissioned local indigenous contractors to deliver drilling and environmental programs at the project.

These collaborations not only strengthen relationships but also ensure the communities closest to Case Lake share in the economic and social benefits of development.

On the technical side, the company achieved a major highlight with recent laboratory results that confirm the presence of additional critical minerals within its project area.

This not only strengthens the value of the company's primary resource but also opens up opportunities to supply materials that are central to the global energy transition.

Encouragingly, early conversations with potential offtake partners suggest there is strong appetite in the market for the diverse suite of minerals the company's portfolio possesses.

This combination of stakeholder progress and technical success is creating momentum as the company advances toward development.

The company's focus is on positioning the project as a next-generation mining operation that delivers sustainable economic value. The company is equally committed to upholding the highest standards of environmental responsibility and community engagement.

The company is in the final stages of extended conversations with strategic investors and industry participants, who recognize the importance of building new, reliable supply chains for critical minerals in North America.

With global demand growing and geopolitical factors reshaping trade flows, Case Lake is increasingly seen as a strategically important development with the potential to supply multiple markets.

The months ahead will see the company continue work on permitting, while advancing studies that will form the backbone of the company's development plans with a very low capex that delivers Case Lake into production.

In parallel, the company's exploration and technical teams are committed to further field work, drilling and analysis, with the goal of adding new data that enhances both scale and optionality for the project.

Each of these steps builds confidence, not just in the company's ability to deliver, but in the long-term sustainability and competitiveness of the operation.

The company recognizes that this is not just about building a mine, it is about creating a long-term supply of minerals that are critical to new technologies, cleaner energy and modern economies.

With governments, industry partners and indigenous communities behind the company, its project is on track to deliver value that is both enduring and far-reaching.

I look forward to providing further updates as the company progresses through what will rapidly become an exciting era for the company.

Power Metals chief executive officer Haydn Daxter

Case Lake property

The Case Lake property is located 80 kilometres east of Cochrane in Northeastern Ontario, near the Ontario-Quebec border. It comprises 586 cell claims across Steele, Case, Scapa, Pliny, Abbotsford and Challies townships within the Larder Lake mining division. The property is 10 kilometres by 9.5 km in size with 14 granitic domes.

The Case Lake pegmatite swarm consists of six spodumene dikes known as the North, Main, South, East and Northeast dikes on the Henry Dome, and the West Joe dike on a new dome, collectively forming mineralization trend that extends for approximately 10 km.

Power Metals has completed several exploration campaigns leading to the discovery and expansion of new and historic spodumene-bearing LCT pegmatites at Case Lake. The company has drilled a total of 23,976 metres of core between 2017 and 2024 at the property. The Case Lake property is owned 100 per cent by Power Metals Corp. A National Instrument 43-101 technical report has been prepared on Case Lake property and filed on July 18, 2017.

Decelles property

The Decelles property contains 247 claims, covering 14,229 hectares of LCT prospective ground near the mining centres of Val d'Or and Rouyn-Noranda, approximately 600 kilometres from Montreal.

Power Metals acquired the Decelles and Mazerac properties from Winsome Resources in 2023 in a deal that increased Winsome equity stake to 19.59 per cent (refer to press release announced on Aug. 24, 2023), the transaction remains subject to TSX Venture Exchange approval. The geology of Decelles property is part of the Archean Pontiac subprovince where S-type LCT prospective, pegmatite-bearing, granitic Decelles batholith intrudes into metasedimentary units of the Pontiac Group.

Spodumene- and beryl-bearing pegmatites have been reported historically within the Pontiac subprovince in association with S-type garnet-muscovite granite. The Decelles property is adjacent to Vision Lithium's Cadillac property where discovery of high-grade lithium pegmatites was reported in 2022.

Mazerac property

The Mazerac property is located approximately 30 km east of Power Metals' Decelles property near well-established mining camps in the Abitibi region of Canada and is accessible by network of mining-grade forestry roads. The Mazerac property contains 115 claims that cover 6,653 hectares of LCT prospective ground near the mining centre of Val d'Or and Rouyn-Noranda. The regional geology of Mazerac is similar to Decelles where S-type LCT prospective, pegmatite-bearing, granites of Decelles batholith intrude into metasedimentary units of the Pontiac Group. Spodumene- and beryl-bearing pegmatites have been reported historically within the Pontiac subprovince in association with S-type garnet-muscovite granite.

Pollucite and cesium

Pollucite is a rare mineral that hosts high-grade cesium and is associated with highly fractionated, rare element pegmatites. The main source of cesium known globally is pollucite. Currently there is no operational mining of high-grade cesium from pollucite occurring globally.

Scientific and technical disclosure

The scientific and technical disclosure included in this news release has been reviewed and approved by Amanuel Bein, MSc, PGeo, vice-president of exploration for Power Metals, a qualified person under National Instrument 43-101 -- Standards of Disclosure of Mineral Projects (NI 43-101) and a member in good standing with Association of Professional Geoscientists of Ontario (3524).

About Power Metals Corp.

Power Metals is a Canadian exploration company focused on developing high-quality critical mineral projects.

Its flagship Case Lake property in Ontario -- 100 per cent owned by Power Metals -- is a high-grade cesium, lithium and tantalum asset, poised to become one of only four cesium mines globally.

Beyond Case Lake, the company's portfolio includes the Decelles and Mazerac properties near Val d'Or, Que. Together, these assets cover 947 claims spanning more than 330 square km of lithium-cesium-tantalum (LCT) prospective ground.

As global demand for critical minerals continues to grow global, and particularly in North America, Power Metals is strategically advancing its projects to support the continent's growing supply needs.

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